福建圣农发展股份有限公司 第七届董事会第十三次会议决议公告

Core Viewpoint - Fujian Shennong Development Co., Ltd. has approved a plan to engage in commodity futures hedging to mitigate the impact of raw material price fluctuations on its business performance, with a maximum investment of 100 million yuan [2][6]. Group 1: Meeting Details - The 13th meeting of the 7th Board of Directors was held on September 26, 2025, with all nine directors present, and the meeting complied with relevant laws and regulations [1]. - The meeting was convened by Chairman Fu Guangming and included both in-person and remote participation [1]. Group 2: Approval of Hedging Business - The board unanimously approved the proposal to conduct commodity futures hedging, with a voting result of 9 in favor, 0 against, and 0 abstentions [2]. - The hedging aims to reduce the impact of price volatility of major raw materials like corn and soybean meal on the company's operations [8]. Group 3: Financial Details - The company plans to use its own funds, with a maximum of 100 million yuan (excluding physical delivery amounts), for the hedging activities, which will be valid for 12 months from the approval date [6][9]. - The previously approved hedging limits will automatically become invalid upon the approval of this new limit [6]. Group 4: Internal Control and Risk Management - The company has revised its internal control system for commodity futures hedging in accordance with relevant laws and regulations [3][12]. - A Futures Decision Committee will be established to oversee the hedging activities, with specific responsibilities assigned to the feed raw material procurement department [9][12]. Group 5: Accounting Treatment - The company will follow relevant accounting standards for the proposed hedging activities, ensuring that the hedging is managed centrally to reduce internal control risks [13]. - The unified management model will prevent individual subsidiaries from conducting their own futures trading, thereby minimizing operational risks [13]. Group 6: Documentation - The board's resolution and the feasibility analysis for the commodity futures hedging business will be made available for public reference [14].