证券代码：002011 证券简称：盾安环境 公告编号：2025-042 浙江盾安人工环境股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确、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 （二）召开董事会会议的时间、地点和方式 会议于 2025 年 8 月 21 日以现场结合通讯方式召开。 （三）董事会会议出席情况 本次会议应表决董事 9 名，实际参加表决董事 9 名，其中章周虎先生、张秀平 女士、刘金平先生、胡杰武先生、严红女士以通讯方式出席会议，发出表决单 9 份，收到有效表决单 9 份。 （四）董事会会议主持人 会议由董事长方祥建先生主持。 （五）本次董事会会议的合法、合规性 会议召集、召开符合《中华人民共和国公司法》（以下简称《公司法》）等有 关法律、法规和《浙江盾安人工环境股份有限公司章程》（以下简称《公司章程》） 的有关规定。 （一）董事会会议通知的时间和方式 浙江盾安人工环境股份有限公司（以下简称"公司"）第九届董事会第三次会议 通知于 2025 年 8 月 11 日以电子邮件方式送达各位董事。 公司编制的《关于开展商品期货套期保值业务的可行性分析报告》作为议 ...

Core Viewpoint - The company, Zhejiang Fuchunjiang Environmental Thermal Power Co., Ltd., has approved a plan for commodity futures hedging to manage price volatility risks associated with its metal production operations [10][19]. Group 1: Company Overview - The company has not changed its controlling shareholder or actual controller during the reporting period [5][6]. - The company plans to conduct commodity futures hedging to stabilize its operational performance and mitigate risks from price fluctuations in metals such as copper, tin, gold, silver, platinum, and palladium [10][14]. Group 2: Financial Data and Compensation - As of the report date, the company has received a total of 2.112 billion yuan in demolition compensation, with 151 million yuan still pending [8]. - The company does not plan to distribute cash dividends or issue bonus shares during the reporting period [3]. Group 3: Futures Hedging Plan - The company plans to invest up to 50 million yuan in margin for futures trading, specifically in copper futures contracts on the Shanghai Futures Exchange [11][15]. - The hedging activities will be conducted over a period of 12 months, with the ability to roll over the approved amount within the authorization period [17][27]. Group 4: Risk Management - The company has established a comprehensive risk management framework for its hedging activities, including a dedicated leadership team and risk control measures to monitor market, funding, operational, and policy risks [22]. - The company will utilize its own and self-raised funds for the hedging activities, ensuring no involvement of raised funds [18].

（编辑 任世碧） 证券日报网讯 8月21日晚间，富春环保发布公告称，公司于2025年8月21日召开第六届董事会第十三次 会议，审议通过了《关于2025年度开展商品期货套期保值业务的议案》。公司控股子公司浙江遂昌汇金 有色金属有限公司（简称"遂昌汇金"）自产铜、锡、金、银、铂、钯，以及镍、铅等金属，为防范金属 市场价格发生不利变动而引发的经营风险，遂昌汇金计划开展商品套期保值业务，以有效管理价格大幅 波动的风险，增强公司经营业绩的稳定性和可持续性。公司拟投入的保证金余额为不超过5，000万元。 期限为自董事会审议通过之日起12个月，额度在审批期限内可循环滚动使用。本事项无需提交股东大会 审议。 ...

Core Viewpoint - Microglow Co., Ltd. is actively engaging in risk management strategies through various financial instruments, including commodity futures hedging and foreign exchange derivatives trading, to stabilize its operational performance and enhance the efficiency of idle funds [1][2][4][11]. Trading Information Summary - On July 4, 2025, Microglow's stock closed at 33.72 yuan, down 1.92%, with a turnover rate of 5.7%, trading volume of 66,000 lots, and a transaction amount of 224 million yuan [1]. - The fund flow on the same day showed a net outflow of 35.99 million yuan from main funds, a net outflow of 14.87 million yuan from speculative funds, and a net inflow of 50.86 million yuan from retail investors [1][4]. Company Announcements Summary - The sixth board of directors held a meeting on July 4, 2025, and approved several proposals, including: - Continuing commodity futures hedging with a maximum margin of 30 million yuan and a maximum contract amount of 230 million yuan, valid for 12 months [1][6][8]. - Initiating foreign exchange derivatives trading with a maximum credit limit of 40 million yuan and a maximum contract amount of 800 million yuan, also valid for 12 months [1][9][10]. - Utilizing up to 60 million yuan of idle funds for entrusted wealth management and securities investment, with individual investments not exceeding 5 million yuan [1][11]. - Providing a credit guarantee of up to 6 million yuan for its subsidiary, Microglow (Thailand) Co., Ltd., valid for 12 months [1][7]. Upcoming Shareholder Meeting - Microglow will hold its first extraordinary general meeting of 2025 on July 23, 2025, to discuss the aforementioned proposals, with a registration deadline of July 16, 2025 [3]. Foreign Exchange Derivatives Trading Feasibility - The company aims to mitigate operational risks associated with foreign exchange rate and interest rate fluctuations, as over 50% of its products are exported and settled in foreign currencies [4][5]. Commodity Futures Hedging Feasibility - The company plans to conduct hedging activities for copper and aluminum, which are its main raw materials, to reduce the impact of price volatility on its operations [6][8]. Credit Guarantee for Subsidiary - The company intends to provide a credit guarantee for its subsidiary, Microglow (Thailand) Co., Ltd., to support its operational and business development needs [7]. Investment of Idle Funds - The company plans to invest idle funds to improve capital efficiency, with a focus on various financial instruments, including stocks, bonds, and wealth management products [11].

Group 1: Company Strategies for Sustainable Development - The company is accelerating global sourcing efforts to enhance the procurement of raw materials, aiming to improve cost-effectiveness through AI-driven market analysis systems [2][3] - Focus on R&D in specialized oils and new chemical materials to enhance product quality and increase added value, with transformer oil being a key product for future cooling applications [2][3] - The company has established a wholly-owned subsidiary in Wuxi to explore liquid cooling business, optimizing its business structure and expanding market reach [3][4] Group 2: Risk Management and Financial Strategies - The company engages in commodity futures hedging to mitigate risks from price fluctuations in raw materials and products, utilizing approved futures exchanges for transactions [3] - Plans to issue up to 73,644,312 shares to state-owned assets, which, combined with transferred shares, will result in state ownership of approximately 33.13% of the company [3] - The company is awaiting approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission for the issuance of A-shares to specific investors [3] Group 3: Market Expansion and Product Development - The company is the only private refinery in China operating bonded high-sulfur fuel oil, breaking the reliance on imports for this product [3] - Continuous process optimization is being implemented to enhance product quality stability and increase capacity utilization [3] - The establishment of the Wuxi subsidiary will provide comprehensive liquid cooling management solutions, contributing to the company's growth potential [4]

Core Points - The company is holding its second extraordinary general meeting of shareholders in 2025 on July 8, 2025, at 14:30 [5] - The meeting will combine on-site and online voting methods, with shareholders required to register and provide necessary documentation to participate [1][3] - A key agenda item is the proposal to engage in commodity futures hedging and trading to mitigate risks associated with raw material price fluctuations, particularly for industrial silicon [5][10] Meeting Procedures - Shareholders and authorized representatives have the right to speak, inquire, and vote during the meeting, with specific registration requirements for speaking [2] - Voting will be conducted through a combination of on-site and online methods, with each share granting one vote [3][5] - The meeting will be presided over by the chairman, Mr. Ji Jinshu, and will include a verification process for attendance and voting eligibility [5] Proposal Details - The company aims to conduct futures hedging and trading to reduce the impact of raw material price volatility on production costs [6] - The maximum margin required for these activities will not exceed a specified limit and will be funded from the company's own resources [6] - The proposal includes risk analysis and control measures to ensure that trading activities are conducted prudently and in compliance with regulations [7][9] Risk Management - The company has identified several risks associated with futures trading, including market, funding, internal control, technical, and policy risks [7][8] - A comprehensive risk management framework has been established, including adherence to internal policies and regular monitoring of trading activities [9]

Core Viewpoint - The company, Jiangxi Hongbai New Materials Co., Ltd., aims to mitigate the risks associated with raw material price fluctuations by engaging in commodity futures hedging and trading activities, specifically focusing on industrial silicon, which is a key raw material for its operations [1][5]. Summary by Sections Overview of Commodity Futures Hedging and Trading - The company plans to conduct futures hedging and trading to reduce the impact of raw material price volatility on its production costs, thereby ensuring stable and sustainable business operations for itself and its subsidiaries [1]. Financial Limits and Funding Sources - The maximum margin required for the commodity futures hedging and trading activities will not exceed 40 million RMB, and the highest contract value held at any single point in time will not exceed 200 million RMB, with these limits being subject to rolling use during the approval period [2]. - The funding for these activities will come from the company's own funds and will not involve raised capital [2]. Risk Analysis and Control Measures - The company will adhere to a prudent approach, avoiding speculative trading, and will base its hedging and trading activities on normal operational needs to mitigate price fluctuation risks [3]. - Identified risks include market risk, funding risk, internal control risk, technical risk, and policy risk, which the company aims to manage through established protocols [3]. Risk Management Policies - The company has established a comprehensive trading management system that outlines principles, approval authority, management processes, risk control, and information disclosure [4]. - It will align its futures trading with its production operations, strictly control positions, and continuously optimize the scale and duration of hedging activities [4]. Accounting Policies - The accounting policies and principles for the commodity futures hedging and trading will comply with relevant Chinese accounting standards, ensuring proper financial reporting and measurement [4]. Sponsor's Review Opinion - The sponsor, CITIC Securities, believes that the company's engagement in commodity futures hedging and trading will help mitigate operational risks from raw material price fluctuations and enhance financial stability, with all procedures adhering to legal and regulatory requirements [5].

Core Viewpoint - 科恒股份 has experienced significant stock price fluctuations, with a notable increase of 20.92% this week, reaching a closing price of 15.84 yuan as of June 13, 2025, and hitting a nearly one-year high of 20.85 yuan during intraday trading on June 11, 2025 [1][3]. Trading Information Summary - The stock price of 科恒股份 showed an abnormal fluctuation, with a cumulative price increase deviation of 43.55% over two consecutive trading days (June 9 and June 10, 2025), which is classified as an abnormal trading situation according to Shenzhen Stock Exchange regulations [3][11]. - The stock has also appeared multiple times on the "龙虎榜" due to a daily turnover rate of 30% and a daily increase of 15% [3]. Company Announcements Summary - The sixth board meeting of 科恒股份 approved several key proposals, including: - Initiating commodity futures hedging business with a maximum margin of 50 million yuan, effective for twelve months [4][8]. - Providing external guarantees for financing up to 11.4 million yuan from the controlling shareholder, Zhuhai Gree Financial Investment Management Co., Ltd. [4][8]. - Canceling 1.7834 million stock options that have been granted but not exercised [4][9]. - Repurchasing and canceling 378,650 restricted stocks with a total repurchase amount of approximately 2.91 million yuan [4][10]. - Reducing registered capital and amending the company’s articles of association [4]. - Calling for a temporary shareholders' meeting on June 26, 2025, to review these proposals [6]. Monitoring Committee Review - The monitoring committee confirmed the accuracy of the stock option cancellations and the repurchase of restricted stocks, stating that these actions comply with relevant regulations and will not significantly impact the company's operating performance [5].

Group 1 - The company held its 12th meeting of the 6th Supervisory Board on June 10, 2025, to discuss various matters, including risk management strategies related to commodity futures hedging [1][2] - The Supervisory Board unanimously agreed that the company's commodity futures hedging business is aimed at effectively controlling risks associated with raw material price fluctuations, and the relevant internal control measures are feasible [1][2] - The company plans to optimize its financing structure by securing financing from banks, with the controlling shareholder providing a guarantee of up to 114 million yuan [2][5] Group 2 - The Supervisory Board approved the cancellation of certain stock options, confirming compliance with relevant laws and regulations, and ensuring no harm to the company's or shareholders' interests [3][5] - The company also received approval for the repurchase and cancellation of certain restricted stocks, which was deemed legal and compliant with the company's incentive plan [3][5]

Group 1: Core Purpose and Business Overview - The company aims to conduct commodity futures hedging to reduce the impact of raw material price fluctuations on its production and operational costs, ensuring stable and sustainable development for itself and its wholly-owned subsidiaries [1][6] - The hedging business primarily involves futures contracts related to lithium carbonate, nickel, and cobalt, which are directly linked to the company's operations [1][6] - The maximum margin utilized for the hedging business will not exceed 50 million RMB, and this amount can be used in a rolling manner within a twelve-month approval period [1][6] Group 2: Risk Analysis - The company acknowledges several risks associated with its hedging activities, including market risk, funding risk, internal control risk, technical risk, and policy risk [2][3] - Market risk arises from significant fluctuations in commodity futures prices, potentially leading to trading losses [2] - Funding risk may occur if the investment amount is too large, causing liquidity issues or forced liquidation due to insufficient margin [2] Group 3: Risk Control Measures - The company implements strict controls on futures positions and continuously optimizes the scale and duration of hedging to protect its interests [3][5] - A dedicated management system for commodity futures hedging has been established, which includes training for personnel to enhance their professional skills [3][5] - Regular supervision and checks are conducted to ensure compliance with legal regulations and the effectiveness of internal controls [3][5] Group 4: Accounting Policies and Feasibility Analysis - The accounting policies for the hedging business will adhere to the relevant Chinese accounting standards, ensuring proper financial treatment of the hedging activities [4][6] - The company has developed a comprehensive internal control and risk management system for its hedging activities, which includes clear guidelines on the use of margin and approval processes [5][6] - Utilizing self-owned funds for hedging activities is expected to mitigate raw material price risks and enhance the company's financial stability and competitive ability [5][6]