（三）交易方式 公司及子公司拟通过境内商品期货交易所期货合约开展包括但不限于铜、铝、 聚丙烯等与公司生产经营相关的原材料的期货套期保值业务。 绿田机械股份有限公司 关于开展期货套期保值业务的可行性分析报告 一、期货套期保值业务情况概述 （一）开展期货套期保值业务的目的 为充分利用期货市场的套期保值功能，规避生产经营中原材料价格波动风险， 减少因原材料价格波动造成的产品成本波动，保证产品成本的相对稳定，降低对 生产经营影响。根据绿田机械股份有限公司（以下简称"公司"）及子公司业务 实际情况，综合考虑采购规模及套期保值业务预期成效等因素，公司及子公司拟 开展与生产经营相关的原材料的套期保值业务。公司本次投资符合《会计准则》 关于套期保值相关规定，资金使用安排合理，不会影响公司及子公司主营业务的 发展。 （二）交易金额及资金来源 公司及子公司拟开展的期货套期保值业务投入的期货最高保证金金额不超 过人民币 1,000 万元，在前述投资额度内，资金可以循环滚动使用，且任一时点 的期货最高保证金金额均不超过人民币 1,000 万元。资金来源为自有资金，不涉 及募集资金。 交易的损失。 在合适价位成交，可能会造成实际交易结 ...

威领新能源股份有限公司 董事会决议的公告 证券代码：002667 证券简称：威领股份 公告编号：2025—060 威领新能源股份有限公司 第七届董事会第十二次会议决议的公告 本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。 表决情况如下： 表决结果：4 票同意、0 票反对、0 票弃权，关联董事谌俊宇回避表决； 表决结果：4 票同意、0 票反对、0 票弃权，关联董事张瀑回避表决； 威领新能源股份有限公司 董事会决议的公告 表决结果：4 票同意、0 票反对、0 票弃权，关联董事李佳黎回避表决； 表决结果：5 票同意、0 票反对、0 票弃权。 此议案已经第七届董事会薪酬与考核委员会第四次会议审议通过。贵州储 瑛律师事务所对此事项发表了法律意见。 期货套期保值业务的议案》 鉴于公司控股子公司江西领辉科技有限公司的主要产品锂云母、江西领能锂 业有限公司的主要产品碳酸锂、临武嘉宇矿业有限公司的主要产品金属矿石及精 矿粉（锡矿石及锡精矿、铅锌矿石及铅锌精矿等）的价格受市场价格波动影响明 显，为降低产品价格波动给公司带来的经营风险，保持公司经营业绩持续、稳定， 公司拟利用期货工 ...

Group 1 - The article highlights the importance of futures markets in managing risks and facilitating cross-border trade, particularly in the context of changing global trade dynamics [1][4] - Xiamen Guomao Petrochemical successfully negotiated a PTA order by utilizing futures contracts to secure pricing and protect profit margins amid market uncertainties [1][2] - Xiamen Jianfa leveraged futures tools for risk management in their procurement of Australian rapeseed meal, demonstrating the effectiveness of basis trading in volatile markets [1][2] Group 2 - The article discusses how the use of options by Wucai Zhongda Chemical Group provided a "double insurance" against shipping disruptions and price fluctuations in their Ukrainian rapeseed meal imports [3] - The active trading of futures contracts on the Zhengzhou Commodity Exchange enhances risk management capabilities for companies engaged in bulk commodity trading [3][4] - The acceptance of "Chinese prices" by foreign enterprises is driven by China's significant role in global commodity consumption and trade, as well as the ability for these enterprises to hedge risks directly in the Chinese futures market [3][4]

Core Viewpoint - The 2025 China (Zhengzhou) International Futures Forum highlighted the increasing importance of PTA and bottle chip futures amid global uncertainties, emphasizing the need for risk management tools in the trading community [1] Group 1: Market Dynamics - Global market faces multiple uncertainties in 2025, yet trade growth is anticipated despite trade wars and geopolitical tensions [1] - The demand for bottle chips remains resilient, with China accounting for 29% of global bottle chip demand, serving as a key driver in the market [1] Group 2: Risk Management - Participants in bottle chip trade are increasingly seeking stable and transparent risk management tools due to heightened market volatility [1] - Gareth Lamb from Jabil has utilized bottle chip futures for hedging against cross-border price fluctuations over the past 12 months [1] Group 3: Future Engagement - Jabil is actively promoting the cross-border use of Zhengzhou Commodity Exchange futures products, encouraging PTA buyers to shift from fixed pricing to futures pricing [1] - Customized risk management solutions are being developed for international entities, particularly small and medium-sized traders and processors, to facilitate access to the Chinese futures market [1]

期货日报网讯(记者韩乐)8月19日，由郑州商品交易所、芝加哥商业交易所集团主办的2025中国(郑州)国 际期货论坛在郑州开启。在当天下午的对外开放论坛上，嘉利高全球包装部经理加雷斯兰姆表示，全球 不确定性持续增强更加凸显了PTA、瓶片期货的重要性，相关交易者参与郑商所期货产品交易，可对12 个月内的价格波动进行风险对冲，由此建立行业信心。 加雷斯兰姆表示，2025年全球市场受多重不确定性冲击。尽管受到贸易战和地缘局势冲击，但全球贸易 增长可期。全球瓶片的需求仍具韧性，中国以29%的全球瓶片需求占比成为核心驱动力。而需求增长与 市场波动加剧，让瓶片贸易参与者对稳定、透明的风险管理工具的需求更加迫切。 据加雷斯兰姆介绍，在过去的12个月中，嘉利高已多次运用瓶片期货进行套期保值，锁定跨境价格波动 风险。目前，嘉利高正在积极推动郑商所期货产品跨境使用，引导PTA买家从固定价转向期货定价，为 无法直接接入郑商所系统的国际实体企业(尤其是中小贸易商、加工商)定制风险管理方案，搭建对接桥 梁，让更多参与者共享中国期货市场价值。 ...

期货日报网讯（记者 韩乐）8月19日，由郑州商品交易所、芝加哥商业交易所集团主办的2025中国（郑 州）国际期货论坛在郑州开启。在当天下午的对外开放论坛上，嘉利高全球包装部经理加雷斯・兰姆表 示，全球不确定性持续增强更加凸显了PTA、瓶片期货的重要性，相关交易者参与郑商所期货产品交 易，可对12个月内的价格波动进行风险对冲，由此建立行业信心。 加雷斯・兰姆表示，2025年全球市场受多重不确定性冲击。尽管受到贸易战和地缘局势冲击，但全球贸 易增长可期。全球瓶片的需求仍具韧性，中国以29%的全球瓶片需求占比成为核心驱动力。而需求增长 与市场波动加剧，让瓶片贸易参与者对稳定、透明的风险管理工具的需求更加迫切。 据加雷斯・兰姆介绍，在过去的12个月中，嘉利高已多次运用瓶片期货进行套期保值，锁定跨境价格波 动风险。目前，嘉利高正在积极推动郑商所期货产品跨境使用，引导PTA买家从固定价转向期货定价， 为无法直接接入郑商所系统的国际实体企业（尤其是中小贸易商、加工商）定制风险管理方案，搭建对 接桥梁，让更多参与者共享中国期货市场价值。 ...

Group 1: Report Information - Report Name: Carbonate Lithium Futures Daily Report [1] - Date: August 19, 2025 [2] - Researchers: Zhang Ping, Yu Feifei, Peng Jinglin [3][4] Group 2: Market Review and Operation Suggestions - **Market Performance**: Carbonate lithium futures rose significantly, with the main contract breaking through 90,000 yuan during the session. The spot price of electric carbon increased by 1,900 yuan to 84,600 yuan, Australian ore rose by 45 to 1,035, lithium mica ore rose by 85 to 2,185, 5-series power-type ternary materials rose by 500, and lithium iron phosphate rose by 515. The production profit of salt plants purchasing lithium spodumene narrowed to 1,069, and the production loss of salt plants purchasing lithium mica expanded to 4,968. The current futures price has a premium of over 4,000 yuan over the spot price [12]. - **Main Drivers**: The rise was mainly due to the news that the mining license of Qinghai Xitai Jinaier Salt Lake of CITIC Guoan expired, and short - term disturbances in the resource side were the main cause of lithium price fluctuations [12]. - **Outlook**: The high supply is expected to remain unchanged in the short term, but the market's short - term trading sentiment is still concentrated on the production cuts and suspensions in the lithium resource sector. It is expected that the price of carbonate lithium is likely to rise and difficult to fall [12]. Group 3: Industry News - **Ganfeng Lithium**: On August 18, Ganfeng Lithium stated on the interactive platform that the future reversal of lithium prices depends on the intensity of supply - side clearance and the pace of demand growth. The company is optimistic about long - term lithium demand, will adjust production capacity flexibly and optimize hedging strategies, and the current volume of carbonate lithium futures hedging is low [13]. - **India's Policy Proposal**: India proposed to reduce the goods and services tax for entry - level two - wheelers, small cars, and hybrid passenger cars, and the proposal is expected to be implemented before October [13]

Group 1 - The article highlights the importance of futures markets in facilitating cross-border trade and managing risks associated with price fluctuations [1][5] - Companies like Xiamen Guotai Petrochemical and Xiamen Jianfa are utilizing futures contracts to lock in prices and mitigate risks in their trading operations [1][2] - The integration of hedging strategies, such as basis trading and options, allows companies to navigate uncertainties in international markets effectively [2][3][4] Group 2 - The use of basis trading separates price determination from contract signing, enabling buyers to lower costs while sellers can lock in profits, thus avoiding the risks of betting on market trends [2][5] - The article provides examples of companies successfully employing futures tools, such as Xiamen Jianfa's use of futures contracts for rapeseed meal and Mucai Zhongda's use of options to hedge against shipping risks [3][4] - The acceptance of "Chinese prices" by foreign enterprises is driven by China's significant role in global commodity consumption and trade, as well as the ability for these enterprises to participate directly in Chinese futures markets [5]

Group 1 - The article highlights the importance of futures trading in managing risks and enhancing competitiveness in cross-border trade, particularly in the context of changing global trade dynamics [1][5] - Xiamen Guotai Petrochemical successfully negotiated a PTA order with European buyers by utilizing a basis pricing strategy, which allowed them to secure a reasonable profit margin despite price negotiations [1][5] - Xiamen Jianfa combined hedging with basis trading in their procurement of Australian rapeseed meal, effectively managing price fluctuations and avoiding significant losses through strategic use of futures contracts [2][5] Group 2 - The article discusses the use of options by Wucai Zhongda Chemical Group to mitigate risks associated with importing Ukrainian sunflower meal during a crisis, demonstrating the effectiveness of dual insurance strategies in cross-border trade [3][4] - Wucai Zhongda also employed futures contracts to hedge against price declines in peanut procurement from Senegal, showcasing innovative risk management techniques in volatile markets [4] - The active trading of agricultural futures on the Zhengzhou Commodity Exchange has significantly improved companies' risk management capabilities and enhanced their market competitiveness in international agricultural trade [5]

今年国内清明节假期前夕，美国宣布对全球主要贸易伙伴加征"对等关税"，这一举措令全球贸易陷入紧 张，与之紧密关联的海运业也面临巨大压力。在贸易节奏被打乱的背景下，运价波动风险急剧上升。南 华期货航运研究业务负责人傅小燕捕捉到这一市场变化，第一时间响应了客户的避险需求。 "对等关税"冲击海运贸易节奏 国内某知名国际货代企业为迎接二季度海运旺季，今年3月与船公司签订了欧线舱位采购合同，锁定100 个舱位（TEU），单价1800美元。然而，美国宣布征收"对等关税"，令旺季预期转淡，欧线运价承压下 行。考虑到取消合同可能损害商业信誉与合作关系，该企业计划利用集运指数（欧线）期货进行套保， 以对冲现货订舱风险。 编者按：为深入展现期货市场服务实体经济的创新实践，上期所发起2025年"期货市场服务实体经济创 新案例"征集活动，聚焦案例的主题性、创新性、实践价值及可推广性。即日起，本报将陆续刊登具有 代表性的优秀案例，分享期货工具在助力产业升级、风险管理及乡村振兴中的成功经验。 "五一"假期结束后，美国"对等关税"暂缓实施的消息出炉，下游客户订舱积极性显著提升，期现基差也 呈现先回落后回升态势。5月 12日，中美发布联合声明 ...