Sou Hu Cai Jing·2026-01-05 19:46Core Viewpoint - The company, Nanhua Biological, is planning to engage in lithium carbonate futures hedging to mitigate raw material price volatility risks, with a maximum margin balance of 3 million yuan and a maximum contract value of 30 million yuan, using its own funds until September 30, 2026 [1][2][4]. Trading Information Summary - As of January 5, 2026, Nanhua Biological's stock closed at 8.82 yuan, down 1.45%, with a turnover rate of 0.76% and a trading volume of 25,000 hands, amounting to a transaction value of 22.0662 million yuan [1]. - On the same day, the net outflow of main funds was 6.0909 million yuan, while retail investors showed a net inflow of 3.8144 million yuan [1][3]. Company Announcement Summary - The 12th Board of Directors of Nanhua Biological held its 7th meeting on December 30, 2025, approving several resolutions, including the selection of an accounting firm, management of director and senior management departures, and the establishment of a commodity futures trading management system [1][2][3]. - The company has established a system for selecting accounting firms, detailing the conditions, procedures, and supervision requirements for hiring, renewing, or changing accounting firms, emphasizing quality management in the selection process [2]. - A departure management system for directors and senior management has been implemented, outlining procedures for resignation, work handover, and post-departure obligations [3][4]. - The commodity futures trading management system has been set up to regulate trading activities, ensuring that transactions are solely for hedging purposes and not speculative [4]. Feasibility Analysis of Hedging Business - Nanhua Biological aims to conduct lithium carbonate futures hedging to stabilize its main business operations against price fluctuations, with a maximum margin of 3 million yuan and a maximum contract value of 30 million yuan, funded by its own resources [1][4]. - The business is set to be implemented by the company and its subsidiaries, with the approval of the board of directors, and does not require shareholder meeting approval [4]. Regulatory Compliance and Risk Management - The company has established risk control measures and management systems to ensure that the hedging activities are conducted within the authorized limits set by the board of directors [1][4]. - West Securities, as the sponsor, has reviewed the hedging business and found no objections, confirming that it does not involve raised funds [4].