Core Points - Longyang Technology (688299) reported a closing price of 20.69 yuan on August 27, 2025, with an increase of 8.67% and a turnover rate of 18.9% [1] - The company experienced a significant decline in revenue and net profit in the first half of 2025 compared to the same period in 2024 [3][6] Trading Information - On August 27, 2025, the net inflow of main funds was 29.05 million yuan, accounting for 2.6% of the total transaction amount [2][5] - The number of shareholders increased to 15,000 as of June 30, 2025, representing an increase of 2,305 shareholders or 18.14% [2][5] Financial Performance - In the first half of 2025, Longyang Technology achieved an operating income of 525 million yuan, a year-on-year decrease of 18.81% [3][6] - The net profit attributable to shareholders was -8.55 million yuan, a decline of 150.11% year-on-year [3][6] - The company reported a gross profit margin of 29.51% and a debt ratio of 38.24% [3] Company Announcements - The company announced a change in its production capacity for lithium-ion battery separators from an annual output of 400 million square meters to 200 million square meters [5][6] - The company plans to conduct foreign exchange hedging business with a maximum amount of 50 million USD, effective for 12 months from the board's approval [6]

Core Viewpoint - Shenzhen Energy Group Co., Ltd. announced that its wholly-owned subsidiary, Sheneng (Hong Kong) International Co., Ltd., plans to use foreign exchange forward settlement and sales tools to conduct foreign exchange hedging business to effectively mitigate exchange rate fluctuation risks [1] Business Overview - Purpose: The Hong Kong company engages in the import and export trade of bulk commodities such as coal and natural gas, primarily settling in USD and HKD. The hedging aims to lock in revenue, costs, or risk exposure related to its operations, aligning with actual business needs and financial strength, and is not for speculative purposes [1] - Amount: The total scale of the hedging business is planned to not exceed $500 million (or equivalent foreign currency) within 12 months after board approval, with any single transaction not exceeding $200 million (or equivalent foreign currency) [1] - Method: The company plans to conduct hedging transactions by signing foreign exchange forward contracts with financial institutions qualified for foreign exchange hedging [1] - Duration: The hedging business will be conducted for a period of 12 months from the date of board approval [1] - Funding Source: The Hong Kong company will use its own funds, without involving raised funds or bank credit [1] Approval Process - The foreign exchange hedging business has been approved by the Audit and Risk Management Committee and the Board of Directors in meetings held on August 26, 2025. According to the company's articles of association, this matter does not require submission to the shareholders' meeting for approval [2] Risk and Control - The company acknowledges certain risks associated with the hedging business, including credit risk, exchange rate fluctuation risk, internal control risk, and liquidity risk. To mitigate these risks, the company has implemented several control measures: - Established internal control management standards for foreign exchange hedging, clarifying approval authority, organizational structure, and responsibilities [3] - Ensured that forward exchange rates match actual business needs, aiming to lock in procurement costs based on confirmed orders, prohibiting speculative and arbitrage trading [3] - Partnered with financial institutions that have relevant qualifications and high credit ratings to reduce performance risk [3] - Limited single transaction credit usage to no more than 50% of the total credit limit; established a dynamic monitoring system to track available credit balances and reserve a 20% liquidity buffer; regularly conducted extreme exchange rate stress tests to anticipate funding gaps; and actively expanded credit limits with partner banks to ensure smooth emergency financing channels [3] Accounting Treatment and Board Review - The company will account for and disclose the foreign exchange hedging business in accordance with relevant accounting standards. The board has approved the feasibility analysis report for the hedging business and confirmed the business scale, duration, and transaction currencies [4]

| 证券代码：000027 | 公告编号：2025-027 | 证券简称：深圳能源 | 公司债券代码：149676 | 公司债券简称：21 | 01 | 深能 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 公司债券代码：149677 | 公司债券简称：21 | 02 | 深能 | 公司债券代码：149927 | 公司债券简称：22 | 02 | 深能 | | 公司债券代码：149984 | 公司债券简称：22 | Y2 | 深能 | 公司债券代码：148628 | 公司债券简称：24 | Y1 | 深能 | | 公司债券代码：148687 | 公司债券简称：24 | 01 | 深能 | 公司债券代码：524032 | 公司债券简称：24 | Y2 | 深能 | | 公司债券代码：524352 | 公司债券简称：25 | YK01 | 深能 | 深圳能源集团股份有限公司 | | | | 董事会八届三十八次会议决议公告 公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 深圳能源集 ...

Core Viewpoint - The company held its 14th meeting of the 5th Supervisory Board on August 26, 2025, where several key resolutions were passed regarding the 2025 semi-annual report, fundraising usage, profit distribution, governance structure changes, and financial management strategies [1][2][3][4][5]. Group 1: Meeting and Resolutions - The meeting was attended by all three supervisors, confirming its legality and effectiveness under relevant laws and regulations [1]. - The 2025 semi-annual report was approved, reflecting the company's financial status and operational results accurately without any misleading information [2]. - A special report on the storage and actual use of raised funds was approved, confirming compliance with regulatory requirements and proper fund management [2]. - The profit distribution plan for the first half of 2025 was approved, ensuring it aligns with the company's financial health and does not harm minority shareholders [3]. - The decision to abolish the Supervisory Board and amend the company's articles of association was approved, indicating a shift in governance structure [3]. Group 2: Financial and Operational Strategies - The company approved a capital increase of up to 40 million yuan for its wholly-owned subsidiary to support the "Research and Development Center Construction Project," ensuring compliance with fundraising usage plans [4]. - A change in the accounting firm for the 2025 fiscal year was approved, with the appointment of Rongcheng Accounting Firm for auditing and internal control [5]. - The company authorized the initiation of foreign exchange hedging activities with a limit of up to 70 million USD, allowing for flexible financial management within a 12-month period [5].

外汇套期保值业务管理制度 第一章 总则 第一条 为规范宿迁联盛科技股份有限公司（以下简称"公司"）的外汇套期 保值业务及相关信息披露工作，防范与控制外币汇率风险，确保公司资产安全， 根据《中华人民共和国公司法》 《中华人民共和国证券法》 《上市公司信息披露管 理办法》 《上海证券交易所股票上市规则》 宿迁联盛科技股份有限公司 《上海证券交易所上市公司自律监管指 引第 1 号——规范运作》《上海证券交易所上市公司自律监管指引第 5 号——交 易与关联交易》等法律法规和规范性文件及《宿迁联盛科技股份有限公司章程》 （以下简称"《公司章程》"）的相关规定，结合公司实际情况，特制定本制度。 第二条 本制度适用于公司及子公司的外汇套期保值业务，子公司进行外汇 套期保值业务视同公司外汇套期保值业务，适用本制度。公司应当按照本制度相 关规定，履行相关审议程序和信息披露义务。未经公司有权决策机构审议通过， 公司及子公司不得开展外汇套期保值业务。 第三条 本制度所称外汇套期保值业务，主要是指为满足正常生产经营需要， 在金融机构办理的规避和防范汇率风险的外汇套期保值业务，主要包括但不限于 远期结售汇、外汇掉期、外汇期权、利率掉期 ...

Core Viewpoint - The document outlines the foreign exchange hedging management system of Guangdong Vanward New Electric Co., Ltd, aiming to standardize operations, enhance risk management, and ensure asset safety [2][12]. Group 1: General Principles - The foreign exchange hedging business includes forward foreign exchange sales and purchases, foreign exchange swaps, foreign exchange options, and other foreign exchange derivatives [2]. - The system applies to the company and its wholly-owned and controlling subsidiaries, prohibiting subsidiaries from engaging in hedging without company consent [2]. Group 2: Operational Principles - The company must conduct hedging activities based on legitimate, prudent, safe, and effective principles, avoiding speculative transactions [4]. - Transactions are only permitted with qualified financial institutions approved by the State Administration of Foreign Exchange and the People's Bank of China [4]. - The company must establish its own hedging accounts and cannot use third-party accounts for these transactions [4]. Group 3: Approval Authority - Approval for hedging activities is tiered based on the company's audited net assets, requiring board approval for amounts exceeding 50% and board approval for amounts exceeding 10% [6]. - All hedging activities from subsidiaries must be reported to the company's chairman for approval [6]. Group 4: Business Management Process - The company's shareholder and board meetings serve as decision-making bodies for hedging activities, with the finance center responsible for feasibility analysis and operational management [7]. - The audit and supervision department monitors the actual operations and financial outcomes of hedging activities [8]. Group 5: Information Isolation Measures - All personnel involved in hedging must maintain confidentiality regarding the company's hedging strategies and financial conditions [10]. - The audit committee oversees the independence of the hedging operations and personnel [10]. Group 6: Internal Risk Management - The company must adhere to strict procedures for margin and settlement fund management, establishing warning reports and stop-loss mechanisms to prevent financial inaccuracies [20]. - In the event of significant exchange rate fluctuations, the finance center must analyze the situation and report to the board [21]. Group 7: Information Disclosure - The company is required to disclose relevant information regarding its hedging activities in accordance with regulations from the China Securities Regulatory Commission and the Shenzhen Stock Exchange [22].

中信证券股份有限公司 关于江西宏柏新材料股份有限公司 开展外汇套期保值业务的核查意见 中信证券股份有限公司（以下简称"中信证券"、"保荐人"）作为江西宏柏新材 料股份有限公司（以下简称"宏柏新材"、"上市公司"或"公司"）2023年度向不特 定对象发行可转换公司债券的保荐人，上述可转换公司债券已于2024年完成发行，目前 处于持续督导阶段。根据《证券发行上市保荐业务管理办法》《上海证券交易所股票上 市规则》《上海证券交易所上市公司自律监管指引第 1 号——规范运作》《上海证券交 易所上市公司自律监管指引第 11 号——持续督导》等有关法律法规和规范性文件的要求， 保荐人对宏柏新材开展外汇套期保值业务进行了审慎核查，并出具核查意见如下： 包括但不限于美元、欧元等。公司进行的外汇套期保值业务品种具体包括但不限于远期 结售汇、外汇互换、外汇期货、外汇期权业务及其他外汇衍生产品等业务。交易对手为 有外汇衍生品交易业务经营资质的银行等金融机构。 本次授权外汇套期保值业务的有效期自公司2025年第三次临时股东大会审议通过之 日起十二个月，交易额度在有效期内可以滚动使用。上述额度和授权期限内董事会提请 股东大会授权董事长根 ...

华安证券股份有限公司 关于宁波长阳科技股份有限公司 开展外汇套期保值业务的核查意见 华安证券股份有限公司（以下简称"保荐机构"、"华安证券"）作为宁波 长阳科技股份有限公司（以下简称"长阳科技"、"公司"）2022年度向特定对 象发行股票并上市持续督导工作的保荐机构，根据《证券发行上市保荐业务管理 办法》、 二、拟开展的套期保值业务概述 （一）业务品种 结合资金管理要求和日常经营需要，公司拟开展的金融衍生品套期保值业 务主要包括远期结售汇、外汇掉期、外汇互换及其他外汇衍生产品等业务。 《上海证券交易所科创板上市公司自律监管指引第1号——规范运作（2025 年5月修订）》等有关规定，对长阳科技开展外汇套期保值业务进行了核查，并 发表核查意见如下： 一、开展外汇套期保值业务的必要性 公司出口业务主要采用美元等外币进行结算，因此当汇率出现较大波动 时，汇兑损益将对公司的经营业绩造成一定影响，为有效规避外汇市场的风 险，防范汇率波动对公司经营业绩造成不利影响，提高外汇资金使用效率，合 理降低财务费用，公司拟与银行开展外汇套期保值业务。公司的外汇套期保值 业务以正常生产经营为基础，以规避和防范汇率风险为目的，不进行单纯 ...

Group 1 - The company held its ninth meeting of the fourth supervisory board on August 26, 2025, where the half-year report for 2025 was approved unanimously by the supervisory board members [1] - The half-year report reflects the company's operating conditions and results accurately, with no false records or misleading statements [1] - The company plans to conduct foreign exchange hedging activities with a maximum balance of $40 million (approximately 288 million RMB), using its own funds and not involving raised funds [2][3] Group 2 - The board authorized the chairman to make decisions and sign contracts related to the foreign exchange hedging business within the approved limit, with the possibility of delegating this authority to the general manager or other financial personnel [2] - The authorization for the foreign exchange hedging activities is valid for 12 months from the date of the board resolution [2]

Core Viewpoint - Ningbo Changyang Technology Co., Ltd. has announced the initiation of foreign exchange hedging activities to mitigate risks associated with currency fluctuations and improve the efficiency of foreign exchange fund utilization [1][2]. Group 1: Necessity of the Business - The company primarily conducts export transactions in foreign currencies such as USD, making it susceptible to exchange rate fluctuations that can impact operational performance [2]. - The foreign exchange hedging activities aim to prevent adverse effects from currency volatility, enhance the efficiency of foreign exchange funds, and reduce financial costs [2]. - The hedging activities will include various products such as forward foreign exchange contracts, foreign exchange swaps, and other foreign exchange derivatives, with a maximum amount of $50 million or equivalent [2]. Group 2: Risk Analysis and Control Measures - The company acknowledges potential risks including market risk, operational risk, and default risk, and has implemented several control measures [3]. - The hedging activities are based on normal business operations and are not intended for speculative trading [3]. - The finance department will continuously monitor market information and assess risk exposure, while a specific management regulation for foreign exchange hedging has been established [3]. Group 3: Impact on the Company and Opinions - The foreign exchange hedging activities are expected to enhance the company's ability to manage foreign exchange risks, thereby protecting operational performance and profits [4]. - The supervisory board supports the initiative, confirming that it aligns with the company's development needs and complies with legal procedures [4]. - The sponsoring institution agrees with the decision, emphasizing the importance of training for staff and adherence to risk control measures to prevent speculative behavior [4].