Core Viewpoint - CITIC Futures has implemented a three-step service strategy to revitalize the underlying commodity assets of ferroalloy plants, effectively addressing issues such as limited sales channels, passive pricing, and significant price volatility in traditional ferroalloy enterprises, ensuring that goods are accessible, manageable, and sellable [1][4] Group 1: Customized Three-Step Solution - Zhongwei City is a major silicon iron production base, accounting for over 85% of Ningxia's total output. A key ferroalloy enterprise in the area, despite having sufficient orders, has been operating at a marginal profit due to overall industry downward pressure. CITIC Futures designed a tiered service plan tailored to the enterprise's characteristics [2] - The first phase involved expanding sales channels through futures delivery, allowing the enterprise to recover funds and alleviate account period pressure. CITIC Futures provided comprehensive guidance on the delivery process to ensure the quality of the goods met exchange standards [2] - The second phase introduced basis trading to enhance pricing capabilities, enabling the enterprise to lock in profits when futures prices were high, maintaining stable earnings even during market volatility [2] - The third phase involved innovative rights trading to increase operating profits, where CITIC Futures designed a "cumulative sales" rights trading plan to help the enterprise achieve high-price inventory clearance amid a persistently low silicon iron price forecast for Q4 2024 [2] Group 2: Significant Results of Industry-Finance Integration - CITIC Futures and its subsidiaries effectively addressed enterprise challenges through a combination strategy of "futures delivery + basis pricing + rights trading," enhancing profits and stabilizing operations. This integration of futures and options tools not only improved the operational quality of the enterprise but also validated the value of these financial instruments in strengthening industry risk management capabilities [3] - The success of this project is attributed to the service philosophy of "finance understands the entity," transforming complex financial tools into understandable and operable solutions for enterprises, thereby bridging the last mile of industry-finance integration [3] Group 3: Establishing a New Benchmark for Futures Services - The project serves as a model by deeply integrating innovative service models with the actual needs of enterprises, addressing challenges such as limited sales channels, weak pricing power, and high price volatility. It validates the application value of derivative tools in traditional manufacturing and demonstrates effective pathways for futures services to support small and micro enterprises [4] - CITIC Futures is committed to providing high-quality services to support the development of the real economy, adhering to principles of compliance, integrity, professionalism, stability, and responsibility. The company aims to enhance the vitality of industries and contribute to their recovery and growth [4] - Moving forward, CITIC Futures plans to deepen the "futures + industry" service model, develop more customized risk management solutions, and strengthen industry training to improve enterprises' understanding and application of financial tools, facilitating their transformation and upgrading [4]