LPXD(SZ:002114) Xin Lang Cai Jing·2025-12-12 14:44Core Viewpoint - Yunnan Luoping Zinc Electric Co., Ltd. plans to conduct futures hedging business in 2026 to mitigate price volatility risks and secure sales revenue through the futures market [1] Group 1: Futures Hedging Business - The hedging business will focus on the Shanghai zinc futures, with a maximum daily margin usage of 30 million RMB, which is reusable [2] - The monthly hedging position will not exceed 50% of the monthly zinc ingot production, and the cumulative position will not exceed 60% of total inventory [2] - The business period is set from January 1, 2026, to December 31, 2026, with operations managed by the company's futures decision-making team [2] Group 2: Risk Management Measures - The company has established a multi-dimensional risk control system, adhering to the principle of "hedging positions" and implementing a price fluctuation warning mechanism [3] - A tiered approval system for margin management is in place, with a minimum of 20% risk reserve fund [3] - Trading instructions require dual signatures from the futures decision-making team, and records are uploaded to the ERP system for regular internal audits [3] Group 3: Financial Treatment and Disclosure - The company will follow accounting standards for hedging and recognize the fair value changes in the current profit and loss or other comprehensive income based on effectiveness assessments [4] - If the recognized gains or losses from the futures business exceed 10% of the most recent audited net profit (1.26 million RMB threshold), the company will issue a timely announcement [4] - The implementation of this hedging business is expected to enhance the company's resilience to zinc price fluctuations, supporting operational stability in 2026 [4]