旭阳集团：以期货工具筑牢实体发展根基

Core Insights - The article highlights the strategic partnership between Xuyang Group and a well-known foreign company, focusing on a long-term coke sales agreement for 2025-2026, marking a decade of collaboration and a total trade volume of 3 million tons [1][4] - Xuyang Group has evolved from a single company to a global leader in energy and chemical sectors, integrating various business segments including coke, chemicals, and new materials, and has been consistently listed among China's top 500 enterprises [1] - The company has successfully utilized futures hedging tools to navigate market volatility, demonstrating operational wisdom and risk management capabilities [1][2] Company Development - Established in 1995 and listed in Hong Kong in 1999, Xuyang Group has transformed into a comprehensive energy and chemical company over 30 years, expanding its operations nationwide [1] - The company began its foray into futures trading in 2013, aiming to mitigate risks associated with price volatility in the coal and coke industry [2][5] Risk Management and Futures Strategy - Xuyang Group's commitment to futures trading was validated during a 2016 international contract where the company faced potential losses due to soaring market prices but successfully hedged its risks through prior futures positions [3][4] - The company has developed a dynamic hedging model that integrates both buying and selling strategies to manage risks across different market cycles [6][8] Operational Innovations - Xuyang Group has established a unique management mechanism for its futures operations, ensuring flexibility and effective risk control through a structured approval process and unified reporting [9][10] - The company has adopted a profit-sharing mechanism that aligns the interests of different operational units, enhancing accountability and awareness of futures trading [9][10] Industry Leadership and Collaboration - As a leading enterprise, Xuyang Group actively supports smaller companies in the industry by sharing knowledge on hedging and risk management, fostering a collaborative environment for mutual growth [10][11] - The company emphasizes the importance of utilizing financial tools to navigate industry challenges and advocates for policy improvements in the futures market to better serve the real economy [11]