Core Viewpoint - The company, Maiwei Biotech, announced plans to engage in foreign exchange derivative trading to mitigate risks associated with foreign exchange market fluctuations, with a total trading limit of up to $50 million or equivalent in other currencies [2] Group 1: Trading Strategy - The company and its subsidiaries intend to use self-owned funds for foreign exchange derivative trading, which includes but is not limited to foreign exchange forwards, swaps, options, and structured forwards [2] - The trading counterparties will be large domestic banks and financial institutions that are approved by regulatory authorities and have a solid credit rating [2] Group 2: Trading Limit and Duration - The total trading limit for foreign exchange derivatives is set at a maximum of $50 million [2] - The validity period for the authorized trading limit is 12 months from the date of approval by the company's board of directors, and the limit can be used in a rolling manner within this timeframe [2]

Core Viewpoint - Shanghai Canray Technology Co., Ltd. plans to engage in foreign exchange derivative trading to mitigate foreign exchange market risks and enhance financial stability [1][5]. Trading Details - The company and its subsidiaries intend to use their own funds for foreign exchange derivative transactions with a maximum trading limit of 100 million RMB (or equivalent in other currencies) [2]. - The trading limit is valid for 12 months from the board's approval date on September 12, 2025, with a maximum contract value of 100 million RMB at any point during this period [2]. - The types of derivatives include foreign exchange forwards, options, swaps, and currency swaps, which are characterized by transparency, liquidity, and known risks [2]. Review Procedure - The board of directors approved the proposal for foreign exchange derivative trading, with the supervisory board agreeing that it effectively mitigates foreign exchange risks and does not harm the interests of the company or its shareholders [3]. - The matter falls within the board's approval authority and does not require a shareholders' meeting [3]. Risk Analysis and Control Measures - The company adheres to principles of legality, prudence, safety, and effectiveness in its derivative trading, avoiding speculative and purely arbitrage transactions [4]. - A management system for foreign exchange derivative trading has been established to outline operational principles and approval authorities [4]. Impact on the Company - Engaging in foreign exchange derivative trading is expected to enhance the company's ability to manage foreign exchange volatility risks and protect shareholder interests [5]. - The company will account for this business in accordance with relevant accounting standards [5].

Core Viewpoint - Mingzhi Technology (688355) has experienced a decline in stock price and revenue, while showing a slight increase in net profit for the first half of 2025 [1][3]. Group 1: Stock Performance - As of August 29, 2025, Mingzhi Technology's stock closed at 18.9 yuan, down 6.34% from the previous week [1]. - The stock reached a peak of 20.73 yuan on August 26, 2025, and a low of 18.4 yuan on August 28, 2025 [1]. - The current market capitalization is 2.343 billion yuan, ranking 200th out of 216 in the general equipment sector and 4891st out of 5152 in the A-share market [1]. Group 2: Shareholder Changes - As of June 30, 2025, the number of shareholders is 5084, a decrease of 8 from March 31, 2025, representing a reduction of 0.16% [2]. - The average number of shares held per shareholder has increased to 24,400 shares, with an average holding value of 428,400 yuan [2]. Group 3: Financial Performance - For the first half of 2025, Mingzhi Technology reported a main revenue of 252 million yuan, a year-on-year decrease of 14.76% [3]. - The net profit attributable to shareholders was 43.607 million yuan, an increase of 2.2% year-on-year [3][5]. - The net profit after deducting non-recurring items was 26.005 million yuan, up 25.63% year-on-year [3]. - The gross margin stands at 31.16%, with a debt ratio of 16.04% [3]. Group 4: Company Announcements - The board has approved the semi-annual report and plans to engage in foreign exchange derivative trading not exceeding 20 million USD to mitigate exchange rate risks [4][5]. - The company has initiated legal proceedings against Kunming Yunnei Power for a debt of 30.9655 million yuan, with a counterclaim of 40.1629 million yuan from the other party, scheduled for court on November 12, 2025 [4]. - As of June 30, 2025, the net amount raised from fundraising is 489.3652 million yuan, with 375.5961 million yuan utilized and 146.3246 million yuan remaining to supplement working capital [4].

Core Viewpoint - Suzhou Mingzhi Technology Co., Ltd. has announced the initiation of foreign exchange derivative trading to mitigate foreign exchange market risks and enhance financial stability [1][2]. Group 1: Reasons and Objectives - The company aims to effectively hedge against foreign exchange market risks due to its export business, preventing adverse impacts from significant exchange rate fluctuations on its performance [2]. - The initiative is expected to improve the efficiency of foreign exchange fund utilization and reduce financial costs [2]. Group 2: Types of Transactions - The foreign exchange derivative trading will include products closely related to the company's core business, such as foreign exchange forwards, swaps, options, structured forwards, interest rate swaps, interest rate options, and currency swaps [3]. Group 3: Transaction Limits, Duration, and Authorization - The total amount for foreign exchange derivative trading is capped at $20 million, which can be rolled over within 12 months from the date of board approval [4]. - The board has authorized the chairman or designated personnel to make decisions and sign relevant documents within the approved limit [4]. Group 4: Risk Analysis and Control Measures - The company has identified risks such as exchange rate fluctuations, liquidity risks, and counterparty risks, with measures in place to mitigate these risks [4]. - A management system for foreign exchange derivative trading has been established to ensure compliance and risk control [4]. Group 5: Accounting Policies and Principles - The company will follow relevant accounting standards for the recognition and measurement of financial instruments, ensuring accurate reflection in financial statements [5]. Group 6: Supervisory Board Opinion - The supervisory board supports the foreign exchange derivative trading initiative, stating it effectively mitigates foreign exchange market risks and enhances fund utilization efficiency [6]. - The approval process complies with legal regulations and the company's articles of association, ensuring no harm to the company or shareholders [6].

Core Viewpoint - The company intends to increase its foreign exchange derivatives trading limit to effectively hedge against foreign exchange market risks while supporting its operational needs, without engaging in speculative trading [1][2][5]. Group 1: Trading Overview - The purpose of the trading is to mitigate foreign exchange market risks and is based on normal production and operational needs [1]. - The types of foreign exchange derivatives to be traded include forward foreign exchange contracts, foreign exchange swaps, currency swaps, foreign exchange options, interest rate swaps, interest rate swaps, interest rate options, and their combinations, primarily involving USD and EUR [1]. - The total value limit for the foreign exchange derivatives contracts is proposed to be increased to $40 million or equivalent currencies, with a maximum contract value at any point not exceeding $40 million [2][3]. Group 2: Funding and Counterparties - The funding for the foreign exchange derivatives business will come from the company's own funds and will not involve raised capital [3]. - The trading counterparties will be commercial banks and financial institutions approved by regulatory authorities, with transactions conducted overseas to manage foreign exchange risks [3]. Group 3: Risk Analysis and Control Measures - The company acknowledges potential market risks associated with derivatives trading, including internal control weaknesses and operational risks [4]. - Risk control measures include strict adherence to internal regulations, professional training for staff, and regular audits by professional institutions [4]. Group 4: Impact on the Company - Engaging in foreign exchange derivatives trading is aimed at enhancing the company's ability to respond to foreign exchange fluctuations, thereby reducing financial costs and improving the efficiency of foreign currency usage [5]. Group 5: Approval Process - The company’s board approved the increase in the foreign exchange derivatives trading limit on August 27, 2025, and the matter will be submitted for shareholder approval [5]. Group 6: Sponsor's Review Opinion - The sponsor believes that the increase in the foreign exchange derivatives trading limit aligns with the company's operational needs and that appropriate risk management measures are in place [5][6].

Core Viewpoint - Great Wall Motor Co., Ltd. plans to engage in foreign exchange derivative trading to mitigate foreign exchange volatility risks and enhance financial stability [1] Group 1: Trading Details - The maximum contract value for foreign exchange derivative trading will not exceed RMB 20 billion or its equivalent in other currencies [1] - The expected margin and premium used will not exceed RMB 3.5 billion or its equivalent in other currencies at any point during the trading period [1] - The trading will include various instruments such as forward foreign exchange contracts, foreign exchange swaps, currency swaps, foreign exchange options, interest rate swaps, interest rate swaps, interest rate options, and their combinations [1] - The trading venues will be institutions with legal foreign exchange trading qualifications, and the company plans to conduct related business overseas [1] - The trading period will generally not exceed three years, matching the underlying transaction period [1] Group 2: Approval Process - The matter has been approved by the 41st meeting of the 8th Board of Directors and does not require submission to the shareholders' meeting [2] - The Board of Directors has authorized the Chief Financial Officer to exercise decision-making authority and sign relevant documents within the specified limits and duration [2] Group 3: Risk Analysis and Measures - Market risk exists due to potential differences between contract exchange rates and actual rates at maturity, which may lead to losses [3] - Liquidity risk may arise from unreasonable purchasing arrangements [3] - Counterparty risk is minimized as the company will only engage with financially sound institutions with which it has long-term business relationships [3] - The company will implement strict management systems for foreign exchange derivative trading, adhering to prudent and safe principles, and will not engage in speculative trading [3] - Regular audits and evaluations of derivative trading will be conducted by the internal audit department [3] Group 4: Accounting Treatment and Audit Opinion - The company will account for the foreign exchange derivative trading business according to relevant accounting standards [4] - The Audit Committee of the Board believes that this business is closely related to daily operational needs and can mitigate the impact of foreign exchange and interest rate fluctuations, thus it is reasonable and necessary [4]

Core Viewpoint - The company has approved a plan to engage in foreign exchange derivative trading to mitigate foreign exchange risks associated with its export business, aiming to enhance financial stability and efficiency in foreign currency usage [1][2]. Group 1: Reasons and Objectives - The company and its subsidiaries aim to conduct foreign exchange derivative trading to effectively hedge against foreign exchange market risks and prevent adverse impacts from significant exchange rate fluctuations on company performance [1][2]. Group 2: Types of Derivative Transactions - The foreign exchange derivative transactions will include products closely related to the company's core business, such as foreign exchange forwards, swaps, options, structured forwards, interest rate swaps, interest rate options, and currency swaps [2]. Group 3: Transaction Limits and Authorization - The total amount for foreign exchange derivative trading is capped at USD 20 million, with the authorization to be valid for 12 months from the board's approval date, allowing for rolling usage within this limit [1][2]. Group 4: Risk Analysis and Control Measures - The company will adhere to principles of legality, prudence, safety, and effectiveness in its derivative trading, avoiding speculative and purely arbitrage transactions. Risk control measures include establishing clear internal procedures, approval authority, and regular risk exposure assessments [3][4]. Group 5: Accounting Policies - The company will follow relevant accounting standards for financial instruments and hedge accounting to ensure proper accounting treatment for the foreign exchange derivative transactions [3][4]. Group 6: Supervisory Board Opinion - The supervisory board supports the foreign exchange derivative trading initiative, confirming that it aligns with legal regulations and does not harm the interests of the company or its shareholders, particularly minority shareholders [4].

Group 1 - The company held its second board meeting on August 18, 2025, with all 7 directors present, and the meeting complied with legal and regulatory requirements [1] - The board approved the 2025 semi-annual report and the special report on the use of raised funds, with unanimous support [2] - The board agreed to increase the foreign exchange derivative trading limit by up to 200 million RMB, which can be reused within the authorized period [2] Group 2 - The company plans to change its registered address and increase the board size from 7 to 8 members by adding a staff representative director, while abolishing the supervisory board [3] - Various governance documents and rules were revised and approved unanimously, including the rules for shareholder meetings and board meetings [4][5] - The board proposed to hold the second extraordinary general meeting of shareholders in September 2025 [6]

Core Points - The board of directors of Great Wall Motors convened its 41st meeting to discuss various proposals related to the company's mid-year performance and other operational matters [1][2][3] Group 1: Mid-Year Performance and Reports - The board approved the proposal regarding the company's mid-year performance for 2025, with 8 votes in favor and no opposition [1] - The board also approved the 2024 semi-annual report and summary, receiving unanimous support with 8 votes in favor [2] Group 2: Dividend and Employee Stock Plan - The board decided not to propose any interim dividend distribution for the first half of 2025, with the decision receiving 8 votes in favor [2] - The second lock-up period of the 2023 employee stock ownership plan has been fulfilled, allowing 2,767 eligible employees to unlock their stock rights, with the proposal passing with 6 votes in favor [3] Group 3: Foreign Exchange Derivatives - The board approved the proposal for the company and its subsidiaries to engage in foreign exchange derivatives trading to meet operational needs, with unanimous support of 8 votes [3]

Business Background - The company, Great Wall Motor Co., Ltd., is expanding its overseas operations, leading to increased foreign exchange income and expenditure, which has resulted in a growing foreign exchange risk exposure due to mismatches in currency and timing [1] - To mitigate the adverse effects of significant exchange rate fluctuations and reduce financial costs, the company plans to engage in foreign exchange hedging through derivatives based on specific business needs [1] Types of Transactions - The foreign exchange derivative transactions include but are not limited to forward foreign exchange contracts, foreign exchange swaps, currency swaps, foreign exchange options, interest rate swaps, interest rate options, and their combinations [1] Transaction Amounts and Limits - The maximum contract value held at any point during the period from board approval until the 2025 annual board meeting will not exceed RMB 20 billion or its equivalent in other currencies [2] - The estimated transaction margin and premiums will not exceed RMB 3.5 billion or its equivalent in other currencies during the same period [2] Duration and Funding Sources - The duration of the transactions will generally not exceed three years and will match the underlying transaction period [2] - The funding for these foreign exchange derivative transactions will primarily come from the company's own funds [2] Counterparties and Liquidity Arrangements - Transactions will be conducted with domestic and international financial institutions that have the qualifications and good credit for foreign exchange derivative trading [2] - The business amounts and durations will generally align with the expected income and expenditure plans to ensure liquidity [2] Risk Analysis - Market risk arises from differences between contract rates and actual rates at maturity, which can lead to trading gains or losses [3] - Liquidity risk may occur if foreign exchange derivatives are not appropriately arranged, potentially impacting the company's cash flow [3] - Performance risk is minimized by selecting counterparties with good credit and established long-term business relationships [3] Risk Control Measures - The company will only engage in simple foreign exchange derivatives closely related to its core business, adhering to prudent and safe risk management principles [4] - A strict management system for foreign exchange derivative trading has been established, detailing operational principles, approval authority, and risk management procedures [4] - Regular audits of derivative trading activities will be conducted by the internal audit department to ensure compliance and risk management [4] Feasibility Conclusion - The company aims to enhance financial stability by addressing exchange rate and interest rate risks through foreign exchange derivative transactions based on actual business needs [5]