登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000975证券简称：山金国际 公告编号：2025-056 山金国际黄金股份有限公司 第九届董事会第十八次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 山金国际黄金股份有限公司（以下简称"公司"）第九届董事会第十八次会议通知于2025年12月5日以电 子邮件及专人递交的方式向全体董事送达，公司全体董事以通讯方式进行了表决，公司于2025年12月8 日（含当日）前收到全体董事的表决结果。会议由公司董事长刘钦先生主持，应出席董事9人，实际出 席董事9人。 本次会议的召开和表决程序符合《中华人民共和国公司法》和《山金国际黄金股份有限公司章程》（以 下简称"《公司章程》"）等法律、法规的有关规定。经与会董事认真审议，以记名投票表决的方式通过 了如下决议： 一、以9票同意，0票反对，0票弃权，审议通过了关于续聘2025年度审计机构的议案； 本议案已经审计委员会审议通过。 详见同日披露于《中国证券报》《证券时报》《上海证券报》《证券日报》及巨潮资讯网的《关于拟续 聘会计师事务所的公告》。 二、以7 ...

Core Viewpoint - The company aims to mitigate the impact of price and exchange rate fluctuations by engaging in commodity futures, options, and foreign exchange hedging activities through its wholly-owned subsidiary and other related companies [1] Group 1: Business Activities - The company plans to conduct hedging activities with a maximum contract value of 1,600,000,000 yuan per trading day [1] - The upper limit for trading margin and premiums is set at 120,000,000 yuan [1] - The hedging business is approved by the board and will be submitted for shareholder meeting approval [1] Group 2: Timeline - The effective period for the proposed hedging activities is from January 1, 2026, to December 31, 2026 [1]

Core Viewpoint - The article highlights the increasing participation of A-share listed companies in China's futures and options markets, indicating a growing trend in risk management through hedging strategies. Group 1: Market Participation - As of the end of 2024, 529 out of 5383 A-share listed companies participated in futures and options trading, representing 9.8% of all listed companies and 35.8% of market capitalization [2] - The number of companies involved in commodity futures and options reached 509, accounting for 9.5% of all listed companies, with a market cap exceeding 30% [2] - The average market capitalization of companies participating in commodity futures and options was 666.9 million, a 22.1% increase from 2023, significantly higher than the overall market average of 183.6 million [3] Group 2: Risk Management Strategies - Over 50% of the total cumulative positions held by non-financial listed companies in 2024 were for hedging purposes, marking a 15 percentage point increase from 2023 [3] - The number of listed companies using derivatives for hedging has surged, with 440 companies publishing 713 hedging-related announcements by August 2025, a 167% increase from the same period in 2024 [4] Group 3: Sector-Specific Insights - State-owned listed companies showed strong influence in the commodity futures and options market, with nearly 40% of such companies participating and accounting for nearly 80% of total positions [3] - The participation in commodity futures included 116 different products, with high engagement in copper, aluminum, silver, gold, lithium carbonate, rebar, and hot-rolled coil [3] Group 4: Market Trends - The options market has seen record high positions, with a peak of 13.48 million contracts in August 2025, reflecting a 207% increase in average daily positions compared to 2022 [6] - The number of listed options has expanded, with 62 products currently available, covering major categories such as energy and agricultural products [6]