公司及控股子公司本次拟开展的外汇套期保值业务额度为不超过人民币19亿元(含本数)或等值其他货 币，上述额度在投资期限内可循环滚动使用，但期限内任一时点的累计金额不超过人民币19亿元或等值 其他货币。 智通财经APP讯，钧达股份(02865)发布公告，为有效规避和防范外汇风险，降低汇率大幅波动对公司及 控股子公司经营造成的不利影响，增强财务稳健性，公司及控股子公司拟开展外汇套期保值业务。拟开 展的外汇套期保值业务是为了满足正常经营需要，以规避和防范汇率风险为目的，不进行单纯以盈利为 目的的投机和套利交易。 ...

Group 1: Company Strategy and Focus - The company adheres to a "one body, two wings" long-term development strategy, focusing on strengthening its position in the automotive industry while exploring opportunities in related sectors [2][3][5] - Future plans include closely monitoring industry trends and actively seeking opportunities along the supply chain [3][5] Group 2: Financial Performance and Challenges - In the first half of 2025, the global automotive industry faced challenges due to a complex macro environment, leading to increased competition and pressure on prices and inventory [4] - The company is experiencing a phase of performance pressure, with a noted decline in business over the past three years [4] Group 3: Investor Relations and Communication - The company emphasizes the importance of investor communication and will disclose shareholder structure and related information in regular reports [4] - Management is committed to addressing investor concerns and maintaining transparency regarding business strategies and performance [4][5] Group 4: Risk Management and Financial Health - The company has implemented comprehensive measures for managing bad debts, including customer credit reviews and timely collection actions [6] - A robust foreign exchange risk management system is in place to mitigate the impact of currency fluctuations on operations [8] Group 5: Market Position and Future Outlook - The company is focused on enhancing its core competitiveness and profitability through market expansion and product innovation [8] - Management believes that solid operational performance and sustained growth are the foundation for long-term value creation for investors [8]

Background of Forex Futures - Forex futures originated in the 1970s, driven by the significant changes in the international monetary system, particularly the collapse of the Bretton Woods system [4][5] - The Bretton Woods system established fixed exchange rates between currencies and the US dollar, which was pegged to gold, minimizing foreign exchange risk [4] - The collapse of this system in 1973 and the subsequent Jamaica Agreement in 1976 allowed countries to choose their exchange rate systems freely, increasing foreign exchange risk and the demand for risk management [4][5] Development of Forex Futures in the US - The Chicago Mercantile Exchange (CME) launched the first forex futures contracts in May 1972, marking the establishment of the forex futures market [6] - The market expanded rapidly after the Jamaica Agreement, with other exchanges like NYMEX and NYFE entering the forex futures business [6] - By 1982, standardized forex options were introduced, further diversifying the forex derivatives market [6][7] Current State of Forex Futures in the US - The CME is the primary market for forex futures and options in the US, continuously introducing new forex derivatives to meet diverse investor needs [2][10] - In 2024, the CME's average daily trading volume reached 26.5 million contracts, a 9% increase from 2023, with forex products averaging 1.03 million contracts daily, an 8% year-on-year growth [14] - The most traded forex futures in 2024 included the Euro (258,000 contracts), Japanese Yen (192,000 contracts), and British Pound (120,000 contracts) [14] Trends in Forex Futures Development - There is an increasing demand for forex derivatives due to heightened market volatility and the need for effective risk management [16] - Emerging market currency derivatives are expected to see significant growth as economies develop and trade volumes increase, particularly in regions like Latin America [16]

Core Viewpoint - The document outlines the foreign exchange derivative hedging management system of Hanhigh Group Co., Ltd, aimed at regulating and guiding the company's foreign exchange derivative hedging activities to effectively prevent and control foreign exchange rate risks [2][3]. Group 1: General Principles - The purpose of the system is to standardize the foreign exchange derivative hedging business and strengthen management in accordance with relevant laws and regulations [2]. - The foreign exchange derivative hedging business includes various products such as forward foreign exchange contracts, foreign exchange swaps, currency swaps, foreign exchange options, interest rate swaps, and interest rate options [2][3]. - The system applies to both the company and its subsidiaries, treating their hedging activities as those of the company itself [2]. Group 2: Operational Regulations - The company must adhere to prudent and stable risk management principles, ensuring that all hedging activities are based on daily operational needs and do not involve speculative trading [3]. - Transactions are only permitted with financial institutions approved by the State Administration of Foreign Exchange and the People's Bank of China, and the hedging amount must not exceed the limits approved by the board of directors or shareholders [3][4]. - Hedging contracts must align with the company's foreign exchange income and expenditure forecasts, ensuring that the foreign currency amounts do not exceed the predicted amounts [3][4]. Group 3: Approval Authority - A feasibility analysis report must be prepared and submitted to the board of directors for approval before engaging in foreign exchange derivative hedging activities [5]. - Certain transactions, such as those involving significant amounts or not intended for hedging purposes, require additional approval from the shareholders' meeting [5]. - The company can estimate the scope, amount, and duration of hedging transactions for up to twelve months in advance, subject to board approval [5]. Group 4: Management and Internal Procedures - The management team is authorized by the board or shareholders to oversee the foreign exchange derivative hedging business, including research and approval of specific operational plans [6]. - Relevant departments are responsible for providing necessary information, planning, and tracking the execution of hedging activities [6]. - The internal audit department supervises compliance with the risk management procedures and reports any violations to the board [6][7]. Group 5: Information Disclosure - The company must disclose information regarding foreign exchange derivative hedging activities promptly after board approval [8]. - If losses from hedging activities reach 10% of the company's most recent audited net profit, timely disclosure is required, along with an evaluation of the effectiveness of the hedging relationship [9]. Group 6: Miscellaneous - Any matters not covered by this system will be governed by relevant national laws and regulations [10]. - The board holds the rights to interpret and amend this system, which takes effect upon board approval [10].

Core Viewpoint - Shanghai Jialinjie Textile Co., Ltd. announced plans to engage in foreign exchange derivative trading to mitigate risks from foreign exchange rate fluctuations and enhance financial stability [1][3]. Group 1: Business Rationale - The company primarily operates in export, involving significant foreign currency transactions, which are subject to frequent fluctuations due to international political and economic uncertainties [1]. - The foreign exchange derivative trading is expected to effectively hedge against market risks and improve the efficiency of foreign currency fund utilization, thereby reducing financial costs [1][3]. Group 2: Trading Details - The total trading amount will not exceed 60 million USD (or equivalent foreign currency), with a maximum limit for transaction margin and premiums set at 1 million USD (or equivalent foreign currency) [1][2]. - The trading will include various instruments such as forward contracts, options, currency swaps, and dual currency deposits, with transactions conducted using the company's own funds [2]. Group 3: Governance and Risk Management - The board of directors approved the foreign exchange derivative trading proposal without requiring shareholder approval, granting management the authority to make decisions within the set limits [2]. - The company has established an internal management system for foreign exchange-related activities to mitigate risks, including market, liquidity, performance, and legal risks [2].

海南航空控股股份有限公司 二〇二五年九月 目 录 海南航空控股股份有限公司 关于为关联方提供担保的议案 各位股东、股东代表： 海南航空控股股份有限公司（以下简称"海航控股"或"公 司"）控股子公司云南祥鹏航空有限责任公司（以下简称"祥 鹏航空"）拟为重庆扬子江六号飞机租赁有限公司（以下简称 "扬子江六号"）就 2 架 A321 飞机的融资租赁业务提供担保。 具体情况如下： 根据生产经营需要，公司控股子公司祥鹏航空拟向扬子江 六号租赁 2 架 A321-271NX 飞机（MSN8587/MSN8655）。该 2 架飞机为扬子江六号从蓝诗租赁（天津）有限公司（以下简称 "蓝诗租赁"）融资租赁而来。应蓝诗租赁要求，祥鹏航空拟 为扬子江六号与蓝诗租赁签订的该 2 架飞机《飞机融资租赁协 议》项下对蓝诗租赁的支付义务提供担保，本次担保预计金额 约 104,210.11 万元。 由于扬子江六号为公司间接控股股东海航航空集团有限公 司（以下简称"海航航空集团"）控制的主体，因此扬子江六 号为公司关联方，故本次担保构成向关联方提供担保。为保障 祥鹏航空利益，扬子江六号母公司扬子江融资租赁有限公司（以 下简称"扬子江租赁"）将 ...

Core Viewpoint - The company aims to enhance its ability to manage foreign exchange risk and improve financial stability by engaging in foreign exchange derivative transactions closely related to its main business [1][2][5] Summary by Relevant Sections Transaction Purpose - The company intends to mitigate foreign exchange rate fluctuations and enhance financial stability through foreign exchange derivative transactions, focusing on hedging rather than speculation [1][2] Transaction Types and Tools - The derivatives include but are not limited to forward foreign exchange contracts (including differential delivery), foreign exchange swaps, currency swaps, foreign exchange options, interest rate swaps, interest rate swaps, interest rate options, and their combinations [1][4] Transaction Amount, Margin, and Premium - The maximum contract value held at any point during the transaction period will not exceed RMB 20 billion or its equivalent in other currencies [1][2] - The expected margin and premiums utilized will not exceed RMB 3.5 billion or its equivalent in other currencies at any point during the transaction period [1][2] Funding Sources - The funding for the foreign exchange derivative transactions will primarily come from the company's own funds [3] Risk Analysis and Control Measures - The company will engage in transactions with reputable financial institutions to minimize credit risk and will implement strict risk management principles to avoid speculative trading [5][6] - The company has established a management system for foreign exchange derivative transactions and has taken effective risk control measures [5][6] Accounting Policies and Principles - The company will follow relevant accounting standards for the recognition and measurement of financial instruments in its foreign exchange derivative transactions [5] Board Committee Review Opinion - The board's audit committee supports the foreign exchange derivative transactions as they are closely related to daily operational needs and can mitigate the impact of exchange rate fluctuations on the company [5]

Core Viewpoint - Zhejiang Zhongxin Environmental Protection Technology Group Co., Ltd. plans to increase its foreign exchange derivatives trading limit from $20 million to $40 million due to foreign exchange market fluctuations and an increase in foreign currency deposits [1][2]. Business Situation - The company initially set a total value limit of $20 million for foreign exchange derivatives contracts, which can be rolled over within 12 months from the date of shareholder meeting approval. As of June 30, 2025, the balance of foreign exchange derivatives trading was $19.35 million [2]. - After the increase, the maximum cumulative contract value at any point during the period from the first extraordinary general meeting in 2025 to December 1, 2025, will not exceed $40 million [2]. Business-Related Information - The purpose of the trading is to effectively hedge against foreign exchange market risks, aligning with funding management requirements and daily operational needs, without engaging in speculative trading for profit [3]. - The trading instruments 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, involving major currencies such as USD and EUR [3]. - The funding source will be the company's own funds, and the trading will be conducted with qualified domestic and international financial institutions [3]. - The board of directors will seek authorization from the shareholders' meeting for the chairman or authorized personnel to make decisions and sign relevant legal documents within the set limits [3]. Review Procedure - The company held its second board meeting on August 27, 2025, where the proposal to increase the foreign exchange derivatives trading limit was approved, pending shareholder meeting approval [4]. - The company has established a foreign exchange trading management system and implemented various risk control measures, including market adjustment strategies and regular internal audits [4].

Core Viewpoint - The company aims to mitigate foreign exchange risks associated with its international business operations by engaging in financial derivative transactions with reputable domestic financial institutions [1][2]. Summary by Sections Financial Derivative Products Overview - The primary purpose of the transactions is to hedge against foreign exchange risks due to increasing foreign currency settlement volumes as the company expands its international business [1]. - The company plans to conduct transactions including but not limited to forward foreign exchange contracts, foreign exchange swaps, foreign exchange options, interest rate swaps, and currency swaps [2][3]. Transaction Amount - The authorized transaction amount for financial derivative transactions is capped at RMB 300 million (including equivalent foreign currency amounts) [2]. - The maximum expected margin and premium for these transactions will not exceed RMB 35 million (including equivalent foreign currency amounts) [2]. Funding Source - The funds for the financial derivative transactions will come from the company's own resources and will not involve raised funds [2]. Transaction Duration - The validity of the transactions will last for a maximum of 12 months from the date of approval by the company's board of directors [3]. Review Procedures - The proposal for engaging in financial derivative transactions was approved by the company's board of directors and does not require shareholder meeting approval [3]. Impact on the Company - Engaging in financial derivative transactions is intended to enhance the company's ability to manage foreign exchange risk without affecting normal business operations or cash flow [4]. - The company will adhere to relevant accounting standards for the recognition and measurement of financial instruments related to these transactions [4].

General Principles - The company establishes a management system for forward foreign exchange settlement and sales to enhance management and prevent risks from foreign exchange fluctuations [2] - The forward foreign exchange business is defined as transactions conducted with financial institutions to mitigate exchange rate risks for normal operational needs [2] Operational Principles - The company must adhere to principles of legality, prudence, safety, and effectiveness in conducting forward foreign exchange business, ensuring it does not affect normal operations [4] - Transactions must be conducted in the company's name, and only with approved financial institutions [4][6] - The total foreign currency amount for forward foreign exchange business must not exceed the approved business limit [4] Approval Authority - The decision-making and approval bodies for forward foreign exchange business include the general manager's office, board of directors, and shareholders' meeting [6] - Specific approval thresholds are set based on the company's audited net assets, with different levels of authority required for varying amounts [6] Internal Operating Procedures - The finance center is responsible for the feasibility analysis, planning, and daily management of forward foreign exchange business [9] - A detailed internal process is established for forecasting, executing, and tracking transactions, ensuring compliance with approved plans [10] Information Disclosure and Record Management - The company must disclose information regarding forward foreign exchange business in accordance with regulatory requirements [21] - Relevant documents must be archived for at least 10 years, ensuring compliance with record-keeping standards [22][23] Miscellaneous - The management system will be revised and interpreted by the board of directors, taking effect upon approval [24][25]