Core Viewpoint - Zhejiang Dibai Electric Co., Ltd. plans to conduct commodity futures and foreign exchange hedging business for the year 2026 to mitigate risks associated with price fluctuations of raw materials and exchange rate changes [2][4][19]. Group 1: Commodity Futures Hedging - The company aims to reduce the impact of price volatility of copper and aluminum, which are key raw materials, by utilizing futures contracts for hedging [4][19]. - The maximum amount of margin and premiums for copper and aluminum futures hedging is set at 10 million RMB, with a maximum contract value of 100 million RMB on any trading day [5]. - The funding for this hedging will come from the company's own funds, and the trading will be conducted on the Shanghai Futures Exchange [6][10]. Group 2: Foreign Exchange Hedging - The purpose of the foreign exchange hedging is to minimize the risks arising from exchange rate fluctuations between the RMB and foreign currencies like USD and EUR, which can affect the company's export business [9][19]. - The maximum amount of margin and premiums for foreign exchange hedging is capped at 1 million USD, with a maximum contract value of 10 million USD on any trading day [9]. - Similar to commodity hedging, the funding will also be sourced from the company's own funds, and the transactions will involve reputable financial institutions [11][10]. Group 3: Approval Process - The board of directors approved the hedging proposal during the third meeting of the sixth board on December 30, 2025, and it does not require shareholder approval [2][13]. - The decision was made with unanimous support from all attending directors, indicating strong internal consensus on the hedging strategy [24]. Group 4: Risk Management - The company has established a risk management framework to address potential risks associated with both commodity and foreign exchange hedging, including price volatility, internal control risks, and legal risks [14][17]. - A dedicated hedging management team has been set up to oversee the hedging activities, ensuring compliance with internal policies and effective risk monitoring [16][18]. Group 5: Impact on Operations - The hedging activities are aligned with the company's operational needs and are expected to enhance its risk management capabilities without adversely affecting its core business [19][20].

天眼查显示，近日，臻顶电机新动力科技（江西）有限公司成立，法定代表人为曹振婷，注册资本400 万人民币，由四川鸿发升腾智能科技有限责任公司全资持股。 企业名称臻顶电机新动力科技（江西）有限公司法定代表人曹振婷注册资本400万人民币国标行业科学 研究和技术服务业>研究和试验发展>工程和技术研究和试验发展地址江西省吉安市峡江县工业园区创 新创业孵化园3#厂房企业类型有限责任公司(自然人投资或控股的法人独资)营业期限2025-12-30至无固 定期限登记机关峡江县市场监督管理局 来源：市场资讯 序号股东名称持股比例1四川鸿发升腾智能科技有限责任公司100% 经营范围含技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广，工程和技术研究和试验 发展，能量回收系统研发，集成电路芯片设计及服务，软件开发，机械电气设备制造，新兴能源技术研 发，电力电子元器件销售，电机制造，电池销售，电力测功电机销售，风动和电动工具销售，金属工具 销售，电子元器件与机电组件设备销售，货物进出口，市场营销策划，企业管理，电机及其控制系统研 发，微特电机及组件制造，微特电机及组件销售，机械电气设备销售，电动机制造，电工器材制造，电 工器材 ...

| 交易日期 | 证券代码 | 证券简称 | 成交价格 (元) | 成交量 | 成交金额 (万元) | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | (万股/万份) | | | | | 2025-12-30 | 002196 | 方正电机 | 15.43 | 200.00 | | 3,086.圆联民生证券股份 | 平安证券股份有限 | | | | | | | | 有限公司上海分公 | 公司江苏分公司 | | | | | | | 리 | | | 12月30日，方正电机大宗交易成交200万股，成交额3086万元，占当日总成交额的1.54%，成交价15.43 元，较市场收盘价15.43元持平。 | 权益类证券大宗交易(协议交易) | | --- | ...

上市委审议前夕，晨光电机的"自愿限售"真能掩盖内控缺陷吗？ 瞭望塔财经近日获悉，舟山晨光电机股份有限公司的上市进程来到了关键时刻。北京证券交易所上市委员会定于2026年1月5日审议其发行上市申请。 在更新上会稿招股书的同时，公司及其高管于2025年6月收到浙江证监局的行政监管措施决定书，而2024年第三季度报告的延期披露，更为其公司治理的规 范性蒙上了一层阴影。 1、核心风险与监管警示 尽管最新招股书（上会稿）以显著篇幅罗列了多达21项"风险因素"，涵盖市场竞争、客户集中、毛利率波动、应收账款、存货、税收优惠依赖等多个方面。 瞭望塔财经认为，相比于这些常见于招股书的标准化风险提示，来自监管机构的直接警示和公司自身的信披行为，更能揭示其深层次的公司治理与内部控制 问题。 2025年6月24日，中国证券监督管理委员会浙江监管局对公司及相关责任人员采取出具警示函的行政监管措施，并记入证券期货市场诚信档案。 | 姓名/名称 | 类别 | 具体任职 | | --- | --- | --- | | 舟山晨光电机股份有限公司 | 挂牌公司 | 挂牌公司 | | 吴永宽 | 控股股东/实际控制人 | 时任董事长兼总经理 | ...

Group 1 - The State Council's tariff adjustment plan for 2026 aims to enhance the linkage between domestic and international markets by implementing provisional tariff rates lower than the most-favored-nation (MFN) rates on 935 items, promoting high-level technological self-reliance and modern industrial system construction [1] - The plan includes reducing import tariffs on key components and advanced materials, such as CNC hydraulic air cushions and composite joints, to support technological development and economic transformation [1] - The adjustment will also lower tariffs on medical products like artificial blood vessels and diagnostic kits to improve public health and welfare [1] Group 2 - The plan continues to implement preferential tariff rates for certain imported goods from 34 trade partners under 24 free trade agreements, promoting regional economic integration [2] - It maintains zero-tariff treatment for 100% of products from 43 least developed countries, reflecting China's commitment to supporting their development [2] - The tariff quota management for eight categories of imported goods, including wheat, remains unchanged, with a 1% provisional tariff rate on urea and other fertilizers, which is expected to stabilize agricultural production costs [2][3] Group 3 - The reduction in import tariffs is expected to lower costs for imported products, enhancing consumer purchasing power and stimulating domestic consumption [3] - The adjustment will impact corporate costs positively, allowing companies to reduce production costs and improve efficiency and product quality [3] - Increased competition from foreign imports may drive domestic companies to accelerate technological upgrades, facilitating industry transformation and upgrading [3]

人民财讯12月29日电，通力科技（301255）12月29日公告，公司与江苏祝尔慷电机节能技术有限公司、 吕生国、祝尔慷科技签署《增资协议书》，公司拟使用自有资金8670万元增资认缴祝尔慷科技新增注册 资本6120万元，剩余2550万元计入祝尔慷科技资本公积。增资完成后，公司将持有祝尔慷科技51%的股 权。祝尔慷科技主要从事电机领域技术开发、技术转让与技术服务，永磁电机及机电设备的研发、生产 与销售。本次增资祝尔慷科技有助于公司在传动领域的深度布局，公司将获得其先进永磁电机技术，共 同开发新产品，推动公司产品实现机电一体化发展。 ...

江特电机近日公告称，因做空碳酸锂期货及衍生品等原因，浮亏超1000万元。上市公司从事期货及衍生 品业务的风险可见一斑，即使是套期保值业务，也有规模超标演化为投机的可能，上市公司应谨慎从事 期货及衍生品的交易。而出于套期保值的需求，尤其要把握好尺度，别让风险对冲演变成投机风险。 江特电机的交易品种为碳酸锂、铜和纯碱，其中碳酸锂近期涨幅巨大，也是公司出现浮动亏损的主要品 种。江特电机套期保值的目的是防止碳酸锂价格下跌，提前通过期货及衍生品市场锁定产品销售价格， 即如果未来碳酸锂价格下跌，公司可以通过期货及衍生品市场获得收益弥补产品价格下跌的风险。 根据这个交易方向预判，江特电机持有的碳酸锂相关合约或许为期货空单、买入看跌期权以及卖出看涨 期权等看跌策略组合。这样的组合在碳酸锂价格上涨的时候会引发投资亏损，亏损金额也会"变相"转嫁 到公司的产品成本中，即公司提前锁定了销售价格，那么产品价格上涨所带来的额外收益，也需要去补 偿期货及衍生品的投资亏损。 另一方面，部分公司对期货及衍生品市场的认识不够深入，缺乏专业的风险管理能力和经验，无法准确 判断市场走势和合理控制交易规模。他们往往在市场行情有利时，被短期的盈利冲昏头 ...

做空碳酸锂期货，（002176）浮亏上千万元。 图片来源：公司公告 近日，江特电机关于开展商品期货和衍生品业务的最新进展公告显示，经公司初步测算，公司商品期货 和衍生品交易已确认损益及浮亏金额达到公司最近一年经审计的归母净利润的10%，且绝对金额超过 1000万元。 做空碳酸锂期货致使浮亏 公告显示，江特电机的商品期货和衍生品业务，交易品种为碳酸锂、纯碱和铜。对于形成亏损的主要原 因，公司称，因近期碳酸锂期货价格持续上涨，导致公司期货账户出现亏损。 江特电机表示，上述事项不会影响公司的日常经营活动，公司将根据《企业会计准则第24号-套期会 计》对公司商品期货和衍生品业务进行账务处理，是否对全年的利润产生影响以实际盈亏为准。 回溯公告，江特电机于2025年11月14日和2025年12月1日分别召开了第十一届董事会第二次会议和2025 年第三次临时股东会，审议通过了《关于开展2026年度商品期货和衍生品业务及可行性分析的议案》， 同意公司及子公司开展商品期货和衍生品业务。 图片来源：公司公告 对于开展该项业务的初衷，江特电机称，为规避产品价格波动给公司带来的经营风险，和减少因原材料 价格波动造成的成本波动对生产经 ...

来源：上海证券报 做空碳酸锂期货，江特电机（002176）浮亏上千万元。 图片来源：公司公告 近日，江特电机关于开展商品期货和衍生品业务的最新进展公告显示，经公司初步测算，公司商品期货 和衍生品交易已确认损益及浮亏金额达到公司最近一年经审计的归母净利润的10%，且绝对金额超过 1000万元。 做空碳酸锂期货致使浮亏 公告显示，江特电机的商品期货和衍生品业务，交易品种为碳酸锂、纯碱和铜。对于形成亏损的主要原 因，公司称，因近期碳酸锂期货价格持续上涨，导致公司期货账户出现亏损。 江特电机表示，上述事项不会影响公司的日常经营活动，公司将根据《企业会计准则第24号-套期会 计》对公司商品期货和衍生品业务进行账务处理，是否对全年的利润产生影响以实际盈亏为准。 回溯公告，江特电机于2025年11月14日和2025年12月1日分别召开了第十一届董事会第二次会议和2025 年第三次临时股东会，审议通过了《关于开展2026年度商品期货和衍生品业务及可行性分析的议案》， 同意公司及子公司开展商品期货和衍生品业务。 电机板块方面，公司电机产品包括伺服电机、新能源电机、起重冶金电机、风电配套电机、建机电机、 特种装备电机等，已广泛应 ...

Core Viewpoint - Jiangte Electric (002176) has reported a significant floating loss exceeding 10% of its audited net profit from the previous year, amounting to over 10 million yuan, due to short-selling lithium carbonate futures amid rising prices in the commodity market [4][6]. Group 1: Financial Impact - The company's trading in commodity futures and derivatives has resulted in confirmed losses and floating losses that exceed 10% of its net profit, which is over 10 million yuan [4]. - Jiangte Electric's net profit has been in decline for two consecutive years, with reported losses of 396.91 million yuan in 2023 and 319.18 million yuan in 2024 [14]. - The company's revenue has also decreased significantly, from 2.8 billion yuan in 2023 to 2.1 billion yuan in 2024, representing a decline of 24.86% [14]. Group 2: Business Operations - Jiangte Electric engages in commodity futures and derivatives trading to mitigate operational risks associated with price fluctuations of raw materials and products [10]. - The company has been involved in trading lithium carbonate, soda ash, and copper, with the primary cause of losses attributed to the recent surge in lithium carbonate futures prices [6][10]. - The average price of battery-grade lithium carbonate rose from 92,400 yuan per ton a month ago to 116,300 yuan per ton recently, marking an increase of over 8% [10]. Group 3: Resource Management - Jiangte Electric holds multiple mining rights in the Yichun area, with proven lithium resource reserves exceeding 100 million tons [16]. - The company is currently contesting the potential cancellation of its mining rights for the Shiziling lithium ceramic stone mine and is preparing for the production of the Qian坑 lithium mine [17].