为有效防范国际贸易业务中的汇率波动风险，盾安环境（证券代码：002011）于2025年8月21日召开第 九届董事会第三次会议，审议通过了《关于开展外汇套期保值业务的议案》。公司及子公司拟开展累计 金额不超过18,000万美元或其他等值外币的外汇套期保值业务，投资期限为自董事会审议通过之日起12 个月。 开展目的与业务情况 随着公司国际贸易业务不断发展，出口销售收入增加，为规避外汇市场风险，控制汇率风险，降低汇兑 损益对经营业绩的影响，公司决定开展外汇保值业务。所有外汇交易均以正常生产经营为基础，不进行 投机和套利交易。 公司拟开展的外汇套期保值业务包括远期结售汇业务、外汇掉期、货币掉期、外汇互换及外汇期权等， 涉及的币种主要为美元、欧元、泰铢等公司业务经营所使用的结算货币。 业务规模方面，预计动用的交易保证金和权利金上限不超过人民币6,000万元（含等值外币），外汇套 期保值业务累计金额不超过18,000万美元（含等值外币），期限内任一时点的交易金额不应超过该投资 额度，资金可循环使用。 董事会授权公司经营层在上述额度范围内审批日常外汇套期保值业务方案及签署相关合同，授权期限为 12个月。交易平台为具备外汇衍 ...

Core Insights - The demand for efficient and convenient foreign exchange risk management tools among domestic enterprises is unprecedented due to the increasingly complex global economic environment and growing cross-border trade and investment activities [1][2]. Group 1: Market Trends - As of January to July 2025, 1,114 listed companies in China have engaged in futures and derivatives business, with over 80% (902 companies) involved in foreign exchange hedging, indicating a rapid increase in demand for foreign exchange risk management as China's economy becomes more globalized [1][2]. - Approximately 33% (364 companies) of companies have engaged in commodity futures hedging, and about 15% (162 companies) are involved in both commodity futures and foreign exchange derivatives, with manufacturing companies being the main force in hedging activities [2]. Group 2: Risk Management Evolution - Risk management capabilities have shifted from being a "bonus" to a "survival" necessity for enterprises, highlighting the importance of managing various risks during development [3]. - The use of futures and derivatives has become essential for modern enterprises to manage risks and achieve stable operations, reflecting a qualitative leap in risk management awareness among Chinese companies [3]. Group 3: Need for Comprehensive Risk Management - Companies are encouraged to integrate foreign exchange risk management into a comprehensive risk management system, moving away from conservative attitudes and avoiding reckless speculation [5]. - The cultivation of specialized talent in derivative risk management is crucial, as it requires a combination of knowledge in spot trading, financial theory, and risk control experience [5]. Group 4: Product Development and Market Growth - The introduction of foreign exchange futures products is expected to provide more options, improve the efficiency and transparency of foreign exchange risk management, and reduce hedging costs for enterprises [4]. - As of July 2025, the total capital in the futures market is approximately 1.82 trillion yuan, reflecting an 11.6% increase from the end of 2024, indicating a growing market and increasing demand from enterprises [6].

Core Viewpoint - The increasing uncertainty in the global economy has led to heightened foreign exchange market volatility, emphasizing the importance of foreign exchange risk management for companies engaged in cross-border transactions [1] Group 1: Foreign Exchange Risk - A $50,000 advance payment can lose approximately 3,000 RMB in value within a day due to exchange rate fluctuations, highlighting the significant impact of currency risk on businesses [1] - The number of domestic listed companies participating in foreign exchange hedging has surged from 143 in 2015 to 1,241, representing an increase of about eight times [1] Group 2: Hedging Tools - Foreign exchange futures are recognized as a crucial hedging tool, offering standardized and highly liquid trading options that enable companies to manage their currency exposure more effectively [1] - There is a growing demand for standardized and liquid domestic RMB foreign exchange futures, which are expected to fill the gap in China's currency risk management system, providing market participants with more convenient hedging options [1]

Group 1: Global Strategy and Market Expansion - The company has established subsidiaries and production bases in multiple countries, including the USA, Mexico, UK, Vietnam, India, and Thailand, with ongoing construction in Morocco [2][3] - The global strategy is driven by the need to be close to customers and markets, enhancing value creation through customized product solutions [3] - The global layout allows the company to expand market space and seek new growth opportunities, breaking the limitations of a single market [3] Group 2: Management Challenges and Solutions - The company faces challenges in cross-regional control and strategic coordination, implementing a penetrating management approach with core personnel involved in overseas operations [4] - Local compliance and operational efficiency are ensured by hiring local administrative managers to navigate regulatory environments [4] - The company is advancing automation and digital transformation in overseas production bases to reduce reliance on labor and improve efficiency [4] Group 3: Business Unit Performance Drivers - The BHM division aims to strengthen its market position in building ventilation and home appliance motors while expanding into new product applications in the renewable energy sector [5][6] - The EVBG division focuses on traditional business growth and enhancing core competitiveness in electric drive systems, with a completed factory in Thailand and ongoing development in Morocco [6][7] - The company is actively managing foreign exchange risks through forward foreign exchange hedging to mitigate potential adverse impacts on operating performance [6][7] Group 4: Domestic Production Bases - The company operates 9 production bases in China, with the BHM division primarily located in Zhongshan and Xiaochang, and the EVBG division in cities such as Shanghai, Weifang, Wuhu, Liuzhou, Shiyan, Yulin, and Chongqing [7]

Group 1 - The core point of the announcement is the election of the second board of directors for Sikan Technology (Hangzhou) Co., Ltd., with the addition of an employee representative director, Ms. Zhu Xiaojuan, elected on July 31, 2025 [1][2][6] - The second board of directors will consist of three non-independent directors and three independent directors, along with the employee representative director, serving a term of three years from the date of approval by the shareholders' meeting [1][36] - The company has decided not to establish a supervisory board, with its functions being assumed by the audit committee of the board of directors [35][42] Group 2 - The company plans to conduct foreign exchange derivative trading to mitigate risks associated with foreign exchange rate fluctuations, with an authorized trading limit of up to $15 million (or equivalent in RMB) [8][10] - The foreign exchange derivative trading will be conducted using the company's own funds and will not involve speculative trading [11][12] - The board of directors has approved the foreign exchange derivative trading proposal, which does not require shareholder meeting approval [14][22] Group 3 - The company has implemented risk control measures for foreign exchange derivative trading, including prudent trading principles and careful selection of trading partners [17][18] - The company aims to enhance its financial stability and reduce the adverse impact of exchange rate fluctuations on its operating performance and shareholder equity [20][22] - The company has established a management system for foreign exchange derivative trading, ensuring compliance with relevant laws and regulations [18][22]

Core Viewpoint - The company plans to engage in foreign exchange derivative trading to mitigate foreign exchange market risks and enhance financial stability, with a maximum daily trading amount of up to 50 million USD or equivalent currencies [1][2][7]. Group 1: Trading Purpose and Types - The primary purpose of the trading is to effectively hedge against foreign exchange market risks and prevent significant fluctuations in exchange rates from impacting the company's operations [1][2]. - The company intends to conduct various types of foreign exchange derivative transactions, including but not limited to forward contracts, swaps, and options [1][2]. Group 2: Trading Amount and Currency - The maximum daily trading amount for the company and its subsidiaries is set at 50 million USD or equivalent foreign currencies, with the settlement currencies limited to USD, JPY, or other equivalent currencies [1][2][7]. - The trading limit is valid for 12 months from the date of board approval, and the amount can be used in a rolling manner within this period [2][4]. Group 3: Approval Process and Feasibility - The board of directors and the supervisory board approved the proposal for foreign exchange derivative trading on July 1, 2025, and authorized the general manager to execute the transactions [2][4][7]. - The company has established a comprehensive internal control and risk management system to ensure the feasibility of the trading activities, which are based on actual business needs [4][6]. Group 4: Financial Impact and Accounting Treatment - The foreign exchange derivative trading aims to enhance the company's ability to manage foreign exchange volatility risks, thereby protecting the company's operational performance and shareholder interests [6][7]. - The company will account for the foreign exchange derivative transactions in accordance with relevant accounting standards [6].

Group 1: Company Overview and Market Focus - The company introduced its history, development strategy, and main business operations during the investor relations activity [1] - The company focuses on the TPMS aftermarket due to regulatory requirements in China, which mandates the installation of TPMS on M1 class vehicles starting from January 1, 2019 [2] - The company's TPMS sensors have a gross margin significantly higher in the aftermarket compared to the original equipment market, attributed to covering over 95% of vehicle models and establishing brand advantages in foreign markets [2] Group 2: Product Competitive Advantages - The decoupling pipe system is crucial for vehicle exhaust systems, designed to absorb various movements and vibrations while ensuring no leakage of exhaust gases [2] - The company holds a global market share exceeding 30% in the decoupling pipe system sector, recognized as an industry leader with long-term partnerships with major commercial vehicle manufacturers [2] Group 3: Risk Management Strategies - The company has established a foreign exchange risk management mechanism to safeguard assets and manage external trading risks [2] - A detailed foreign exchange risk management policy is in place, allowing the company to engage in foreign exchange derivative transactions for cost locking and risk mitigation [2]

Core Viewpoint - The document outlines the management measures for forward foreign exchange settlement and sales by Jiangsu Lianrui New Materials Co., Ltd, aiming to regulate operations, mitigate foreign exchange risks, and ensure compliance with relevant laws and regulations [1][2]. Summary by Sections General Principles - The forward foreign exchange settlement and sales business is defined as contracts with banks to agree on future currency exchanges, including currency type, amount, exchange rate, and deadline [1]. - The measures apply to the company and its wholly-owned and controlling subsidiaries [1]. Operational Principles - The company is prohibited from engaging in foreign exchange trading solely for profit; all activities must be based on normal business operations and aimed at risk mitigation [2]. - Transactions can only be conducted with approved financial institutions [2]. Approval Authority and Responsibilities - The finance department is responsible for estimating the scope, amount, and duration of forward foreign exchange transactions and must submit plans for board approval [3]. - Certain transactions require board approval and must be submitted to the shareholders' meeting if they exceed specified thresholds related to net assets or net profits [3]. Business Management and Internal Procedures - The company must establish internal control systems and appoint professionals for investment decisions, operations, and risk management [4]. - The finance department is tasked with executing transactions, while the audit department reviews the operations and reports to the board [4]. Information Disclosure and Record Management - The company must fulfill information disclosure obligations according to relevant regulations, detailing transaction purposes, types, and expected financial impacts [6][7]. - Documentation related to forward foreign exchange transactions must be retained for ten years [8].

Core Viewpoint - The release of the "Action Plan" aims to enhance the convenience of cross-border financial services in Shanghai, addressing the challenges posed by global trade protectionism and supporting China's high-level opening-up strategy [1][2]. Group 1: Cross-Border Financial Services Growth - The international settlement volume of listed banks has seen significant growth, indicating a promising opportunity for banks to expand their cross-border financial services [2]. - In the first four months of this year, China's total goods trade import and export value reached 14.14 trillion yuan, reflecting a 2.4% year-on-year increase, which is expected to boost domestic banks' cross-border business revenue [3]. - China Bank reported a 14.75% year-on-year increase in pre-tax profit from overseas commercial banks, highlighting the growing contribution of international business to revenue [3]. Group 2: Demand for Comprehensive Financial Services - As Chinese enterprises expand overseas, there is a substantial demand for comprehensive financial services, including cross-border settlement, financing, and foreign exchange management [4]. - The "Action Plan" outlines 18 key measures to improve cross-border settlement efficiency and optimize financial services, creating a full-service chain from settlement to risk management [5]. Group 3: Challenges in Cross-Border Financial Services - Banks face challenges in meeting regulatory requirements, which increases compliance costs and complicates the cross-border service experience for enterprises [6]. - Differences in economic development, business culture, and legal environments across countries complicate the assessment of creditworthiness for Chinese enterprises operating abroad [6]. Group 4: Initiatives by Leading Banks - Leading banks like China Bank are actively aligning their strategies with the "Action Plan" to enhance cross-border financial services and support enterprises in global investment and financing [7][8]. - The Industrial and Commercial Bank of China has effectively utilized the cross-border financial service platform to improve business efficiency and customer experience [8]. Group 5: Future Directions for Banks - Banks are encouraged to enhance their policy interpretation and promotional capabilities, support integrated currency pools, and optimize business processes [9]. - There is a focus on diversifying support for global investment and financing, expanding foreign exchange risk management services, and improving digital service levels through new technologies [9].

证券代码：688166 证券简称：博瑞医药 公告编号：2025-012 博瑞生物医药（苏州）股份有限公司 关于开展 2025 年度远期外汇交易业务的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： ? 博瑞生物医药（苏州）股份有限公司（以下简称"公司"或"博瑞 医药"）国际业务的外汇收付金额较大，为规避外汇汇率/利率波动带来的 风险，公司及合并报表范围内子公司拟开展远期结售汇、外汇期权产品等远 期外汇交易业务。结合公司收付外币情况及实际业务需要，公司及合并报表 范围内子公司开展远期外汇交易业务交易金额不超过等值 1.5 亿美元 ? 已履行的审议程序：本事项已经第四届董事会第四次会议、第四届 监事会第四次会议审议通过，无需提交公司股东大会审议 ? 特别风险提示：公司开展远期外汇交易业务遵循合法、谨慎、安全 和有效的原则，不以投机为目的，但远期外汇交易业务操作仍存在市场风险、 操作风险、流动性风险、履约风险等，敬请广大投资者注意投资风险 一、交易情况概述 （一）交易目的 公司国际业务的外汇收付金额较大，为规 ...