证券日报网讯1月29日，特变电工（600089）在互动平台回答投资者提问时表示，公司2025年第六次临 时股东大会审议通过了《公司开展套期保值及远期外汇交易业务的议案》，套期保值业务品种包含多晶 硅。公司会根据市场行情、自身经营实际情况做好风险评估，科学开展多晶硅套期保值业务。 ...

证券日报网讯 1月29日，起帆电缆在互动平台回答投资者提问时表示，为有效防范铜、铝等主要原材料 价格波动给公司经营带来的潜在风险，保障生产经营的稳定性与连续性，公司会根据实际经营需求，适 度开展套期保值业务。目前，公司未对电线电缆产品相关原材料实施全额套保，存在合理的业务敞口， 相关套期保值操作严格遵循公司内部控制制度的规定执行，决策审慎、流程规范。公司将持续关注原材 料价格走势，动态优化相关风险管理策略。 （编辑 王雪儿） ...

格隆汇1月29日丨金田股份(601609.SH)在投资者互动平台表示，公司原料库存以满足公司正常生产经营 需求为原则，通过套期保值等工具，有效降低原材料波动对公司经营的影响。目前公司不涉及铜矿业 务。 ...

Core Viewpoint - The company expects a net loss attributable to the parent company of between 92 million and 135 million yuan for 2025, primarily due to market environment impacts and losses from hedging projects in lithium processing [1] Financial Performance - The expected net loss for 2025 is projected to be between -92 million yuan and -135 million yuan [1] - The losses are attributed to asset and credit impairment provisions leading to operational losses [1] Business Operations - The company faced losses from its lithium processing hedging projects, with price fluctuations affecting current profits [1] - Additionally, the company incurred penalties for construction delays [1] Credit Ratings - The company’s convertible bond has a balance of 167 million yuan, with a maturity date set for March 31, 2026 [1] - Joint Credit Rating Agency maintains the company's individual credit rating at A, long-term issuer credit rating at A, and the convertible bond rating at A, with a stable outlook [1]

2026.01.29 按照现有规定，只有银行能向非金融机构借出黄金。在这个过程中，银行将金库中的黄金"借"给企业， 企业或将其投入生产，或通过金融工具组合，将其变为一种高效的融资手段。 据第一财经初步统计，2025年以来，包括潮宏基、迪阿股份、宝鼎科技、周大生、湖南黄金、山东黄金 等多家企业均在银行办理了黄金租赁业务。 在黄金租赁产业链中，谁在称霸江湖？用金企业如何通过租赁降低成本？又有哪些不为人知的风险与故 事？且看第一财经揭开黄金租赁产业的全貌。 租金需求大涨，产业链玩家多 根据厦门信达最新披露，该公司准备在2026年开展黄金租赁业务，计划通过银行办理黄金租赁，并配套 远期定向黄金购买合约，预计保证金占用不超过5000万元，任一交易日持有的最高合约价值不超过等值 5亿元。 金价接连猛涨，用金企业租赁需求大涨，手握大量黄金用于出租的"金主"，这回可能赚翻了。 近期，黄金价格再创新高。Wind数据显示，1月29日，国际金价再度刷新历史高位，突破5500美元/盎司 关口，年内累计涨幅已接近30%。随着金价持续上涨，下游用金企业的租赁需求，也在水涨船高。相较 前些年，一些黄金首饰企业去年的黄金租赁规模，已经以"吨 ...

Core Viewpoint - The rising gold prices have significantly increased the demand for gold leasing among gold-using enterprises, leading to substantial growth in their leasing activities, which are now measured in tons [1][6]. Group 1: Gold Leasing Demand and Participants - The international gold price has recently surpassed $5,500 per ounce, with a year-to-date increase of nearly 30% [1]. - Gold leasing involves institutions and enterprises applying to banks or leasing companies to rent gold, which is a mature industry with participants including mining companies, banks, and gold-using enterprises [1][2]. - Companies like Xiamen Xinda and others have been involved in gold leasing since 2017, with financing amounts typically between 500 million to 1 billion yuan [2][12]. Group 2: Scale of Gold Leasing - The total gold leasing plans disclosed by several listed companies for 2025 amount to approximately 9,060 kilograms, close to 10 tons [6]. - Companies such as Zhou Dazheng and Hunan Gold have announced significant increases in their gold leasing limits, with Zhou Dazheng planning to lease up to 5,000 kilograms in 2025, up from 2,200 kilograms in 2021 [4][5]. Group 3: Role of Banks - Banks are the primary players in the gold leasing market, renting out gold to enterprises and earning stable leasing fees [6][8]. - The People's Bank of China regulates gold leasing, allowing only banks to lend gold to non-financial institutions, making banks the key players in this market [7]. Group 4: Cost Management and Financing - Gold leasing allows enterprises to avoid large upfront investments in gold, significantly alleviating cash flow pressures [9]. - Companies can use a combination of leasing and forward contracts to lock in gold costs and mitigate price volatility risks [9][10]. - Some companies, like Xiamen Xinda, utilize gold leasing as a financing method by selling the leased gold immediately and using the proceeds to meet liquidity needs [12][13]. Group 5: Risks and Challenges - The rapid increase in gold prices poses risks for companies engaged in gold leasing, as they may face high repayment costs and accounting discrepancies [15][16]. - Companies like China Gold have reported significant losses due to the mismatch between historical costs and market values during periods of rising gold prices [16]. - Regulatory scrutiny has increased, limiting the potential for arbitrage and exposing companies to compliance risks [17].

证券代码：600115 证券简称：中国东航 公告编号：临2026-004 中国东方航空股份有限公司 董事会2026年第1次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 中国东方航空股份有限公司（以下简称"公司"）董事会2026年第1次会议，根据《公司章程》和《董事 会议事规则》的规定，经董事长王志清召集，于2026年1月27日召开。 参加会议的董事确认会前均已收到本次董事会会议通知。本次会议的召开符合《公司法》和《公司章 程》的有关规定，参加本次会议的董事已达法定人数，会议合法有效。 公司董事长王志清，副董事长高飞，董事成国伟，独立董事孙铮、陆雄文、罗群、冯咏仪、郑洪峰，职 工董事揭小清审议了有关议案，一致同意并做出以下决议： 一、审议通过《关于公司2025年套期保值工作总结及2026年工作计划的议案》。 同意公司2025年套期保值工作总结和公司2026年套期保值工作计划。汇率方面，针对美元负债公允价值 汇兑，可开展简单远期交易，期限不超过三年，2026年额度上限为10亿美元；针对美元购汇现金流汇 兑，可开展一 ...

声明：市场有风险，投资需谨慎。本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 责任编辑：小浪快报 2026年1月29日，北方铜业（sz000737）触及涨停，涨停价20.57元，涨幅10%，总市值391.80亿元，流 通市值391.76亿元，截止发稿，总成交额51.10亿元。 根据喜娜AI异动分析，北方铜业涨停原因可能如下，资金管理+套期保值+铜价上涨： 1、北方铜业近期 公告显示公司整体经营状况中性偏利好，主要利好因素为资金使用效率提升和套期保值业务开展。通过 闲置资金理财和临时补充流动资金，预计年化可增加财务收益1000万元以上；7亿元额度套期保值业务 可有效对冲铜价波动风险，稳定经营业绩。 2、公司产品包括阴极铜、硫酸、金锭、银锭、压延铜带箔 等，有色金属价格上涨对公司业 ...

上海海证风险管理有限公司创新业务模式 2024年以来，工业硅价格持续走低，产业链利润收缩，企业资金压力也持续增加。上海海证风险管理有限公司（下称海证 风险子公司）充分了解企业需求，创新应用"代理采购+套期保值"业务模式，有效帮助实体降低采购成本、缓解资金压力， 且大大降低了双方违约的风险。未来，随着期货期权等衍生工具更加广泛地运用在产业上下游贸易环节，将使传统产业链 贸易更加高效、更加稳定，最终实现实体产业和金融的共赢。 2024年以来，工业硅价格持续走低，产业链上下游面临利润收缩的风险，且因回款周期延长，企业资金周转压力也持续增 加。 其间，海证风险子公司积极拜访相关实体企业，充分了解企业需求。拜访中发现，陕西省榆林市的X公司存在原料成本偏 高，利润倒挂的问题。为了帮助企业克服经营中的实际困难，2024年5月，海证风险子公司金属业务部为X公司代理采购了 305吨工业硅，并于当年8月通过点价销售给X公司。 海证风险子公司通过创新应用"代理采购+套期保值"业务模式，有效缓解了X公司的资金压力、维稳其上下游关系，同时降 低了其工业硅原料库存贬值的风险。 案例背景 为了践行期货服务实体经济的使命，海证风险子公司凭借 ...

Core Insights - The training program for government officials in Liuzhou focused on enhancing the understanding and application of futures and derivatives to support the local economy's high-quality development [1][3] Group 1: Training Program Overview - The training was organized by Zhengzhou Commodity Exchange in collaboration with various local government and financial institutions, aiming to optimize the environment for enterprises participating in the futures market [1] - Over a hundred participants from government departments, state-owned enterprises, and local leading companies attended the training, which included both theoretical and practical components [1][2] Group 2: Key Presentations - Professor Li Qiang from Northeast Finance University discussed the new characteristics of the futures market in supporting high-quality economic development, emphasizing the importance of using derivatives for risk hedging [2] - Liu Dewei, General Manager of Xiamen International Trade, highlighted the necessity of hedging in the context of increasing geopolitical uncertainties and commodity price volatility, stating that futures can help reduce costs and enhance operational stability [2] - CEO Hua Jinhui from Weixian Network focused on the financial processing and compliance audit aspects of futures derivatives, providing insights into the accounting standards and contract regulations [2] Group 3: Local Economic Context - Yuan Dongsheng, a member of the Liuzhou Municipal Government, pointed out the close relationship between industrial production and raw materials like copper and iron, as well as agricultural products, stressing the impact of commodity price fluctuations on business performance [3] - Zhao Weidong from the Guangxi Financial Work Committee noted the current policy opportunities for the futures market, emphasizing Guangxi's advantages in the commodity sector and its potential as a significant trading hub for ASEAN [3] Group 4: Market Development and Support - The Zhengzhou Commodity Exchange has been enhancing its service capabilities, with plans to support local enterprises in Liuzhou through futures derivatives, having already assisted 25 companies in hedging [4] - The training was well-received, with participants expressing that the content was relevant to their needs and helped improve their professional capabilities in utilizing futures tools for enterprise support [4]