Group 1: Daily Related Transactions - The company announced a daily related transaction involving its wholly-owned subsidiary, Laibin Jinpan Energy Comprehensive Utilization Co., Ltd., and the related party, Hainan Jirui Haohan Power System Technology Co., Ltd., for the procurement of equipment and engineering services for a low-temperature waste heat power generation project, with a contract amount not exceeding 10.63 million yuan [5][10] - The independent directors unanimously agreed that the transaction is based on normal business interactions, follows fair pricing principles, and does not harm the interests of the company or its shareholders, particularly minority shareholders [2][3] - The board of directors approved the related transaction without the need for shareholder meeting approval, as the transaction amount did not exceed 30 million yuan in the past 12 months [4][12] Group 2: Foreign Exchange Hedging Business - The company plans to conduct foreign exchange hedging business with a maximum amount of up to 225 million USD or equivalent foreign currency to mitigate risks from exchange rate fluctuations, with the authorization valid for 12 months [15][17] - The hedging activities will include forward foreign exchange contracts, currency swaps, foreign exchange sales, and options, focusing on normal production and operational needs rather than speculative trading [19][21] - The company will utilize its own funds for the hedging activities, ensuring that the operations are based on legitimate business needs and do not involve fundraising [18][20]

Core Viewpoint - The company aims to mitigate foreign exchange risks through a hedging strategy involving a maximum amount of $225 million or equivalent foreign currency, approved by the board for a period of 12 months [1][2][3]. Summary by Sections Transaction Overview - The primary purpose of the foreign exchange hedging business is to protect the company's operating performance from significant exchange rate fluctuations, particularly due to its substantial export foreign exchange settlement in currencies like USD and EUR [2][3]. - The total amount for the hedging activities will not exceed $225 million or its equivalent in other currencies, funded by the company's own resources [2][3]. - The hedging products include forward foreign exchange contracts, RMB and foreign exchange swaps, foreign exchange trading, and foreign exchange options [3]. Approval Process - The board of directors approved the hedging proposal during the 25th meeting of the third board on August 4, 2025, and this decision does not require shareholder approval [1][4]. Risk Analysis - The hedging activities will follow principles to lock in exchange rates and interest rate risks, avoiding speculative or arbitrage trading [2][4]. - Risks associated with the hedging operations include potential deviations in future exchange rates from the company's predictions, operational risks, and legal risks [4][5]. Risk Control Measures - The company will implement strict controls on the scale of hedging transactions, ensuring all activities are within authorized limits and based on genuine operational needs [5]. - A structured operational process and authorization management system will be established, along with training for personnel involved in the hedging activities [5]. Impact on the Company - The foreign exchange hedging business is aligned with the company's operational needs and aims to prevent adverse effects on performance due to exchange rate volatility, ensuring no harm to the interests of the company and its shareholders [5][6].