Zhi Tong Cai Jing·2026-02-15 10:41Core Viewpoint - China COSCO Shipping Development Co., Ltd. plans to engage in currency financial derivatives to manage interest rate and exchange rate risks, with a trading limit of USD 2.3 billion and RMB 1.8 billion for the year 2026 [1] Group 1: Financial Derivative Business - The company’s subsidiaries will conduct financial derivative transactions including interest rate swaps and foreign exchange forwards to mitigate risks associated with currency fluctuations and interest rate volatility [1] - The trading period for the specified limits is from February 13, 2026, to December 31, 2026, with the scale of financial derivative activities not exceeding the stated limits [1] - The company has a net asset exposure in USD, and foreign exchange forward transactions will effectively control risks arising from exchange rate fluctuations [1] Group 2: Risk Management Strategy - The company aims to convert floating rate loans into fixed rate loans through interest rate swap transactions to manage market risks related to interest rate fluctuations [1] - The transactions are backed by genuine business needs and reasonable funding arrangements, ensuring that the hedging instruments meet effectiveness criteria in terms of economic relationship, hedging ratio, and timing [1] - The fair value or cash flow changes of the hedging instruments are expected to offset the changes in fair value or cash flows of the hedged items, achieving the goal of hedging [1]