证券日报网讯 2月27日，亿纬锂能发布公告称，2026年2月27日，公司召开第七届董事会第五次会议， 审议通过了《关于调整商品套期保值业务额度的议案》，同意公司将开展商品套期保值业务最高保证金 额度和权利金上限不超过人民币10亿元或等值其他外币金额调整为不超过人民币20亿元或等值其他外币 金额；预计任一交易日持有的最高合约价值不超人民币85亿元或等值其他外币金额调整为不超人民币 125亿元或等值其他外币金额。授权期限自董事会审议通过之日（2026年2月27日）起至2026年6月15日 有效，额度在审批有效期内可循环滚动使用。 （文章来源：证券日报） ...

亿纬锂能公告，2026年2月27日，公司召开第七届董事会第五次会议，审议通过了《关于调整商品套期 保值业务额度的议案》，同意公司将开展商品套期保值业务最高保证金额度和权利金上限不超过人民币 10亿元或等值其他外币金额调整为不超过人民币20亿元或等值其他外币金额；预计任一交易日持有的最 高合约价值不超人民币85亿元或等值其他外币金额调整为不超人民币125亿元或等值其他外币金额。授 权期限自董事会审议通过之日起至2026年6月15日有效，额度在审批有效期内可循环滚动使用。 ...

Group 1 - The core point of the announcement is that CITIC Metal Co., Ltd. has convened its 14th meeting of the third board of directors to approve several proposals, including the initiation of currency and commodity hedging activities for the year 2026 [2][3][7][41]. - The board meeting was held on February 11, 2026, with all nine directors present, and the meeting procedures complied with relevant laws and the company's articles of association [2][3]. - The proposals approved include the initiation of currency derivatives hedging business, commodity hedging business, and the convening of the first extraordinary shareholders' meeting of 2026 [3][7][11]. Group 2 - The currency hedging business aims to mitigate foreign exchange risks arising from the company's import and export activities, with a maximum contract value not exceeding $2 billion or its equivalent in foreign currency [16][17]. - The company plans to use its own funds or credit lines from financial institutions for the hedging activities, without involving raised funds [17][43]. - The hedging transactions will include both on-exchange and over-the-counter trades, utilizing various derivative products such as foreign exchange forwards, swaps, options, and futures [18][19]. Group 3 - The commodity hedging business is intended to reduce price volatility risks associated with the trading of metals and minerals, with a maximum margin amount not exceeding 30% of the audited net assets for 2024 [41][42]. - The company will engage in commodity derivatives trading across various exchanges, including the Singapore Exchange, London Metal Exchange, and others, to manage price risks effectively [44]. - The duration for the authorized trading activities will be 12 months from the date of approval by the shareholders' meeting [45]. Group 4 - The company has established risk management measures to address potential market, funding, counterparty, operational, and legal risks associated with the hedging activities [23][48]. - Specific measures include monitoring the correlation between hedged items and derivatives, ensuring liquidity, and selecting reputable counterparties for transactions [29][55]. - The company will adhere to relevant accounting standards for the recognition and measurement of financial instruments related to the hedging activities [35][57].

Core Viewpoint - The company plans to conduct currency and commodity derivatives hedging business in 2026 to mitigate foreign exchange and price volatility risks associated with its trading operations [4][44]. Group 1: Transaction Overview - The primary purpose of the currency derivatives hedging business is to hedge against foreign exchange risks arising from the company's import and export activities [4]. - The maximum contract value held on any trading day during the transaction period is expected to not exceed $2 billion or its equivalent in foreign currency [4]. - The funding for the hedging activities will come from the company's own funds or credit lines from financial institutions, without involving raised funds [4][45]. Group 2: Approval Process - The proposal for the currency derivatives hedging business has been approved by the company's third board meeting and the audit committee, pending approval from the shareholders' meeting [2][8]. Group 3: Risk Analysis and Control Measures - The company acknowledges various risks associated with the hedging activities, including market risk, funding risk, credit risk, internal control risk, and policy risk [3][9]. - To manage market risk, the company will monitor the valuation changes of hedged objects and derivatives, ensuring that hedging is based on actual business needs [15]. - The company will prioritize reputable financial institutions as trading partners to mitigate credit risk [17]. Group 4: Impact on the Company - The hedging activities are closely related to the company's daily operations and aim to improve its ability to manage foreign exchange and commodity price volatility risks [20][58]. - The accounting treatment for the hedging transactions will comply with relevant financial reporting standards, reflecting the appropriate items in the balance sheet and income statement [20][58].

Core Viewpoint - The management system for commodity hedging at Guangdong Dongjian Automotive Technology Co., Ltd. aims to standardize hedging operations to mitigate price risks and secure profits, adhering to relevant trading rules and regulations [1][2]. Group 1: General Principles - The hedging activities are limited to raw materials necessary for the company's production and operations, and speculative trading is prohibited [1][2]. - Hedging operations must align with the company's actual procurement, inventory, and sales volumes, ensuring that the hedging volume does not exceed actual procurement [2][3]. - The company must establish hedging accounts in its name and cannot use third-party accounts for hedging activities [2][3]. Group 2: Organizational Structure - The Board of Directors' Audit Committee is responsible for reviewing the necessity, feasibility, and risk control of commodity futures and derivatives trading, and may hire professionals for feasibility analysis [2][3]. - A leadership group for commodity hedging is established, consisting of key management personnel, including the General Manager and heads of various departments [4][5]. Group 3: Risk Management - Risk management is integrated throughout the hedging process, focusing on market, price, funding, operational, credit, and basis risks [9][10]. - The company must maintain a risk measurement system to assess potential funding risks and price fluctuation impacts on hedging positions [11][12]. Group 4: Financial Accounting - The company is required to conduct daily accounting for its hedging activities in accordance with relevant accounting standards [13][14]. Group 5: Information Disclosure - The company must disclose details regarding its hedging activities, including purposes, types of transactions, expected margins, and risk management measures [15][16]. - Any significant losses from hedging activities must be reported promptly, especially if they exceed 10% of the company's most recent audited net profit [17].

Core Viewpoint - The company plans to conduct hedging activities to mitigate risks associated with price fluctuations of raw materials and foreign exchange rates, thereby enhancing operational stability and sustainability [1][5]. Summary by Sections Purpose and Necessity of Hedging Activities - The company aims to reduce the adverse impact of significant price fluctuations in raw materials on its operations through commodity hedging [1]. - With the growth of the business and increasing foreign currency settlement needs, the company intends to engage in foreign exchange hedging to better manage related currency and interest rate risks [1]. Basic Situation of Hedging Activities - For commodity hedging, the maximum transaction margin and premium will not exceed RMB 200 million or its equivalent in other currencies, with a maximum contract value of RMB 500 million on any trading day [2]. - For foreign exchange hedging, the maximum transaction margin will not exceed RMB 100 million or its equivalent in other currencies, with a maximum contract value of RMB 200 million on any trading day [2]. - The total limit for margin and premium for both hedging activities will not exceed RMB 300 million or its equivalent in other currencies, with a maximum contract value of RMB 700 million on any trading day [2]. Principles for Hedging Operations - Commodity hedging will be based on actual demand for spot business, ensuring that the volume of futures and other derivatives does not exceed the quantity of actual purchases, inventory, or expected production or sales [3]. - Foreign exchange hedging will follow a prudent principle, aligning with normal business operations to mitigate currency or interest rate risks [3]. Risk Analysis and Control Measures - The company acknowledges potential risks in hedging operations, including market liquidity risks and operational risks due to system failures [4]. - To mitigate these risks, the company has established clear organizational structures, responsibilities, and risk management procedures, ensuring compliance with internal controls [4]. Feasibility Analysis - The company has developed a comprehensive management system for hedging activities and has sufficient self-owned funds or bank credit lines to support the required transaction margins [5]. - The feasibility of conducting hedging activities is affirmed, as it aims to control operational risks and ensure stable and sustainable performance [5]. Approval Procedures - The company's board of directors and supervisory board have both approved the proposal for hedging activities, confirming that it aligns with the company's operational needs and does not harm the interests of the company or its shareholders [6].

Group 1 - The company held its 21st meeting of the 3rd Supervisory Board on May 16, 2025, with all three supervisors present, ensuring compliance with legal and regulatory requirements [1] - The Supervisory Board approved the proposal to continue using idle self-owned funds for cash management, which is expected to enhance the efficiency of fund utilization without affecting the company's normal operations or harming the interests of minority shareholders [1][2] - The Supervisory Board also approved the continuation of commodity hedging business, which aims to mitigate the impact of raw material price fluctuations on the company's operations, again ensuring no harm to the interests of minority shareholders [2]