CMOC(SH:603993) Shang Hai Zheng Quan Bao·2026-01-15 18:08Core Viewpoint - The company has approved several key resolutions during its board meeting, including production guidance for 2026, investment strategies for idle funds, and financial performance forecasts for 2025, indicating a strong operational outlook and strategic financial management. Group 1: Production and Financial Guidance - The company expects to achieve a net profit attributable to shareholders of between RMB 20 billion and 20.8 billion for 2025, representing an increase of RMB 6.468 billion to 7.268 billion, or a year-on-year growth of 47.80% to 53.71% [27][29] - The expected net profit after deducting non-recurring gains and losses is projected to be between RMB 20.4 billion and 21.2 billion, reflecting an increase of RMB 7.281 billion to 8.081 billion, or a year-on-year growth of 55.50% to 61.60% [27][29] - The significant increase in 2025 performance is attributed to a rise in both volume and price of major products, along with effective cost control [33] Group 2: Investment Strategies - The company plans to use idle funds to purchase structured deposits, with a maximum balance of RMB 20 billion, aiming for higher returns than standard bank deposit rates [5][6] - The company will also invest in high-credit, liquid financial instruments, with a similar maximum investment limit of RMB 20 billion for wealth management or entrusted financial products [10][11] - The board has authorized the management to make decisions regarding these investments within the approved limits, ensuring that daily operational needs and fund safety are prioritized [5][10] Group 3: Risk Management and Financial Stability - The company has approved a plan to engage in futures and derivatives trading to hedge against risks related to commodity prices, exchange rates, and interest rates, with a cap on margin and premium usage not exceeding 30% of the latest audited net profit [39][41] - The trading will be conducted with qualified domestic and international financial institutions, ensuring that the company maintains a robust risk management framework [43][44] - The company has established internal controls and risk assessment measures to monitor and manage potential risks associated with these financial activities [50][51] Group 4: Corporate Governance and Shareholder Engagement - The board has proposed to authorize the distribution of interim and quarterly dividends for 2026, subject to shareholder approval, to enhance operational efficiency [22] - The company has also adjusted the remuneration for independent directors to HKD 500,000 per year, reflecting a commitment to align compensation with industry standards [23] - All resolutions passed during the board meeting require shareholder approval, ensuring transparency and accountability in corporate governance [14][20]