以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 投资者提问：瓶片期货价格上涨对公司业绩有影响吗 华润材料回复：尊敬的投资者您好，瓶片作为我司主要产品，其价格上涨有助于提升产品销售定价，对 盈利带来积极影响。但经营业绩还受原料成本、内部产销协同、费用控制等多重因素影响。公司长期坚 持精细化管理，通过套期保值等工具科学管控采购成本，以缓解大宗商品价格波动，力求增强盈利的稳 定性和可持续性。目前生产经营正常，我们将持续关注市场动态，优化经营策略，实施灵活动态管理。 感谢您的关注与支持。 证券之星消息，华润材料(301090)12月03日在投资者关系平台上答复投资者关心的问题。 ...

苯乙烯期货合约月份连续。 2、根据合约到期日选择：期货合约有特定的到期日，投资者需要根据自己的投资周期选择合适的到期 日。短期投资者可能选择近月合约，而长期投资者则可能选择远月合约。 3、根据市场预期选择：投资者可以根据对市场走势的预期选择合约。例如，如果预期价格上涨，可以 选择多头合约；如果预期价格下跌，可以选择空头合约。 这种设计使得苯乙烯期货在交易和套期保值时具有较好的流动性和连续性，方便市场参与者进行跨月套 利和长期布局。 交易苯乙烯期货如何选择合约？ 1、根据合约流动性选择：流动性是选择合约时的重要考虑因素。高流动性的合约通常具有较低的买卖 价差和较小的滑点，交易成本较低。投资者可以通过查看成交量和未平仓合约数来评估合约的流动性。 大连商品交易所规定，苯乙烯期货的合约月份覆盖全年12个月，即1月、2月、3月、4月、5月、6月、7 月、8月、9月、10月、11月、12月，投资者可以在任何时间找到对应的连续月份合约进行交易。 ...

Core Insights - The article discusses the challenges faced by a leading air pollution control company in China due to the global inflation wave from 2020 to 2021, which led to significant cost control issues and a loss of 40 million yuan in 2021 due to soaring steel prices [1] - The company, which has national-level environmental technology qualifications, relies heavily on competitive bidding for project orders, making it vulnerable to raw material price fluctuations [1] - In the second half of 2022, the company faced a decision-making dilemma regarding how to secure raw material costs amidst falling steel prices while holding a procurement order for 20,000 tons of steel [2] Group 1: Company Challenges - The company experienced a loss of 40 million yuan in 2021 due to a surge in steel prices, highlighting the impact of raw material price volatility on its operations [1] - The bidding process requires precise cost calculations based on fluctuating steel prices, creating a risk of losses if prices rise after winning a bid [1] - The company’s operational model is heavily reliant on market conditions, necessitating improved risk management strategies [1] Group 2: Strategic Response - The company partnered with Guojin Futures to develop a comprehensive risk management strategy, which included customized hedging solutions and training for staff [2][3] - A "staggered purchasing" strategy was implemented, allowing the company to buy 20,000 tons of futures contracts in batches, aligning with market trends while securing costs [3] - The successful execution of this strategy resulted in a reduction of procurement costs by 16 million yuan and an additional profit of 4 million yuan from futures trading [3][4] Group 3: Financial Outcomes - The company achieved a dual benefit by avoiding raw material price increases and gaining an additional 20 million yuan in comprehensive profits through effective market trend analysis [4] - The integrated service model provided by Guojin Futures demonstrated the potential for financial services to support real economy enterprises in navigating price volatility [4]

12月2日，创新新材料科技股份有限公司（下称创新新材）发布"关于2026年度开展期货和衍生品套期保 值业务的公告"，拟在2026年度开展期货和衍生品套期保值业务。作为国内大型现代化综合企业公司， 创新新材拟使用期货、期权、金融衍生品等方式进行套期保值的动作，引起产业和资本市场特别是期货 市场的广泛关注。 据期货日报记者了解，目前，全球产业链供应链加速重构，大宗商品价格波动频繁，产业企业面临的经 营环境愈发复杂，风险管理需求日益旺盛，套期保值也成为众多上市公司进行风险管理的标配。据相关 数据统计，截至2025年10月9日，期货市场资金总量突破2万亿元，达到2.02万亿元，较2024年年底增长 24%，增幅显著。截至2025年7月底，包括产业客户在内的一般法人客户权益较2024年年底增长18.5%。 从上市公司来看，2025年1月至10月，共有1737家上市公司发布公告拟参与期货市场，同比增长 10.8%。整体来看，产业企业等参与期货套期保值及灵活运用期货、期权工具，能提升经营稳定性，增 强产业链韧性。 创新新材发布的公告显示，其拟2026年度开展期货和衍生品套期保值业务，主要是为了防范铝、铜、铸 造铝合金等价格 ...

转自：中国黄金报 11月1日起，海关停止执行进口铂金免征进口环节增值税政策，对申报进口的有关产品照章征收进口环节增值税。11月27日，铂、钯期货正式在广州期货 交易所上市，铂、钯期权次日上市交易。 在这一背景下，北京黄金经济发展研究中心和世界铂金投资协会于11月28日联合举办了月度主题线上直播，世界铂金投资协会中国市场研究负责人张文斌 与申银万国期货金融分析师陈梦赟、中博世金科贸有限责任公司交易分析部总经理范宇豪、广东南方黄金市场研究院市场研究中心主任宋蒋圳，围绕着铂 族金属市场的这两个重大事件，共同探索了对铂金产业链、报价体系、定价权的影响以及市场趋势、投资机遇。 铂金税制回归常态 驱动行业转向市场创新 实施了22年的铂金进口环节增值税免征政策于2025年11月1日走进历史。铂金税收新政意味着，该行业由此前政策红利驱动转向市场创新驱动，迎来更具 韧性的发展格局。 性、个性化的沟通机制，更便于实体企业的实物交割；在交割品物理形态上，在海外交易所只有金属锭的基础上，增加了实际需求中广泛应用的粉状、海 绵状，此举能服务更多产业，促进实体经济蓬勃发展。 在直播中，中博世金科贸有限责任公司交易分析部总经理范宇豪表示税 ...

Core Viewpoint - The announcement details the approval process for New Zealand's New Lite Dairy Co., a subsidiary of Bright Dairy, to engage in hedging activities to mitigate foreign exchange and interest rate risks associated with its operations [3][4][5]. Group 1: Transaction Overview - New Lite's main business includes the production and sale of dairy products, with significant revenue from foreign currency sales and some raw material imports, exposing it to foreign exchange risks [3][4]. - The company plans to use forward foreign exchange contracts and interest rate swaps to hedge against these risks [3][4]. - The estimated peak value for forward foreign exchange contracts in 2026 is NZD 1.5 billion, and for interest rate swaps, it is NZD 100 million [4]. Group 2: Approval Process - The proposal has been approved by the Audit Committee and the Board of Directors, pending approval from the shareholders' meeting [2][7]. - The Audit Committee unanimously approved the proposal with three votes in favor and no opposition [7]. Group 3: Risk Analysis and Control Measures - The hedging activities are aimed at risk mitigation and will not involve speculative trading [9]. - Risks identified include market risk, operational risk, and the risk of default by financial institutions [9]. - The company has established a management system for hedging activities, ensuring compliance with legal and regulatory requirements [10][11]. Group 4: Financial Impact and Accounting Treatment - The hedging activities will be conducted in accordance with relevant accounting standards, ensuring proper financial reporting [15].

Group 1 - The company announced amendments to the Board Meeting Rules, which require approval from the shareholders' meeting [3][4][5] - The Board of Directors unanimously approved the proposal to amend the Board Meeting Rules with 7 votes in favor [3][4] Group 2 - The company plans to purchase liability insurance for its directors and senior management to enhance risk management and protect investors' interests [7][8] - The insurance coverage limit is set at a maximum of RMB 100 million per year, with an annual premium not exceeding RMB 500,000 [8] - The proposal for purchasing liability insurance will be submitted to the shareholders' meeting for approval [9] Group 3 - The company intends for its overseas subsidiary, New Zealand New Light Dairy Co., Ltd., to engage in hedging activities to mitigate foreign exchange and interest rate risks [10][13] - The expected peak value for foreign exchange forward contracts is NZD 1.5 billion, and for interest rate swap contracts, it is NZD 100 million [14] - The hedging activities will be funded entirely from the subsidiary's own or self-raised funds, without using the company's raised funds [16] Group 4 - The company has outlined a series of risk control measures for the hedging activities, including strict adherence to legal and prudent principles [21][22] - The company will only engage in hedging transactions with qualified banks and financial institutions [22] - Regular reviews and communications will be conducted to ensure compliance and effective risk management [23][24] Group 5 - The company has proposed expected daily related transactions for 2026, which require approval from the shareholders' meeting [27][28] - The company reported actual related transactions for the first ten months of 2025, indicating no significant reliance on related parties [29]

（编辑 楚丽君） 证券日报网讯 11月28日晚间，南方泵业发布公告称，公司于2025年11月28日召开了第六届董事会第九 次会议、第六届监事会第七次会议，均审议通过了《关于开展套期保值业务的议案》，同意公司子公司 在2026年整个会计年度以自有资金开展最高保证金金额不超过人民币5000万元的套期保值业务。在上述 范围内资金可循环使用，并授权期货套期保值领导小组在上述额度内决策并实施。 ...

Core Viewpoint - Zinc Industry Co., Ltd. has approved an increase in the hedging business margin limit for 2025 from 600 million to 700 million yuan, reflecting the company's proactive approach to managing market price volatility and indicating a trend towards more sophisticated risk management in the domestic non-ferrous metal industry [1][3][8] Summary by Sections Hedging Limit Increase: A Proactive Measure Against Market Volatility - The increase in the hedging limit aims to mitigate price volatility risks associated with raw materials and product inventories in the non-ferrous metal smelting and processing business, ensuring stable operational performance [3] - In the first half of 2025, Zinc Industry reported significant fluctuations in zinc and copper prices, which pressured the smelting segment's profitability. However, the company achieved revenue and net profit growth, with net profit rising by 99.07% year-on-year, highlighting the effectiveness of risk management tools [3][8] Industry Overview: Hedging Becoming a "Must-Have" for Listed Companies - The increase in hedging limits by Zinc Industry is part of a broader trend among listed companies, particularly in the non-ferrous metal sector, to strengthen risk management practices. Since 2025, many companies have announced hedging measures in response to increased market volatility [5] - Statistics show that at least 1,583 A-share listed companies in the real economy have issued hedging announcements this year, surpassing the total of 1,503 for all of 2024, marking a historical high [5] Upgrade Trend: Diversification of Tools and Scope - Zinc Industry's announcement indicates a clear upgrade in risk management strategies, expanding from traditional commodity price risks to include foreign exchange risks and exploring a variety of tools beyond just futures [7] - The trend of tool diversification is evident, with some non-ferrous metal companies beginning to use combination strategies like "futures + options." Zinc Industry has implemented a dual mechanism of "spot lock + futures hedging" to address exchange rate volatility [7][8]

Core Insights - The listing of platinum and palladium futures and options on the Guangzhou Futures Exchange signifies the emergence of new financial derivatives in China and serves as a beneficial supplement to the global platinum and palladium investment market [2][6] - The introduction of these contracts is expected to enhance China's influence in platinum group metal pricing and enrich the pricing system for these metals [2][8] Industry Implications - The listing addresses the lack of authoritative hedging channels in the domestic market, allowing companies to better manage price volatility risks associated with platinum and palladium [3][4] - The innovative inclusion of sponge form in the delivery range of contracts aligns with the actual usage habits of end-users, thereby enhancing the service of futures to the real economy [4][5] Market Dynamics - China is the largest consumer of platinum and palladium, accounting for over 30% of global demand, while domestic production is limited, leading to a heavy reliance on imports [5][8] - The global supply of platinum and palladium is primarily concentrated in South Africa and Russia, which together account for over 80% of platinum and 70% of palladium supply [5][6] Price Trends - Platinum prices have surged significantly in 2023, with New York Mercantile Exchange futures up approximately 80% and Shanghai Gold Exchange spot prices up over 92% year-to-date [7] - Future price forecasts suggest an upward trend, with expected annual increases of 10% to 15% due to persistent supply shortages and robust industrial demand [7][8] Future Outlook - The global platinum market is projected to see a narrowing supply gap by 2025, with expectations of a slight surplus by 2026, influenced by improved recovery supply and a decrease in demand primarily from the investment sector [8] - The listing of futures and options is anticipated to bolster the development of the precious metals industry in the Pearl River Delta region and nationwide [8]