Core Points - The article outlines the foreign exchange hedging management system of Jiangsu Zhenjiang New Energy Equipment Co., Ltd, aimed at regulating hedging activities and mitigating risks associated with foreign exchange rate fluctuations [2][3][4] Summary by Sections General Principles - The system is applicable to the company and its subsidiaries, ensuring compliance with relevant laws and regulations while safeguarding company assets [2] - Foreign exchange hedging activities must be based on actual business needs and should not be conducted for speculative purposes [2][3] Operational Principles - The company is required to establish its own trading accounts for hedging and can only transact with qualified financial institutions approved by the State Administration of Foreign Exchange and the People's Bank of China [3] - Hedging transactions must align with the company's foreign currency receivables and payables forecasts, ensuring that the amounts do not exceed these forecasts [3][4] Approval Authority - The board of directors or shareholders' meeting determines the hedging limits, with specific approval processes based on the transaction amounts relative to the company's audited net assets [4][5] Internal Procedures - The finance department is responsible for feasibility analysis, planning, and execution of hedging transactions, while the audit department oversees compliance and performance [6][7] - Regular reporting and monitoring of hedging activities are mandated to ensure transparency and risk management [7][8] Confidentiality - All personnel involved in hedging activities must adhere to confidentiality obligations regarding the company's hedging strategies and financial information [13] Risk Reporting and Management - Significant market fluctuations or risks that could impact the company's financial performance must be reported immediately to management and the board [15][16] - The finance department is tasked with monitoring market conditions and making timely decisions to minimize potential losses [16] Information Disclosure - The company is required to disclose information regarding its hedging activities in accordance with regulations set by the China Securities Regulatory Commission and the Shanghai Stock Exchange [18][19]

Core Viewpoint - Ningbo Changyang Technology Co., Ltd. has announced the initiation of foreign exchange hedging activities to mitigate risks associated with currency fluctuations and improve the efficiency of foreign exchange fund utilization [1][2]. Group 1: Necessity of the Business - The company primarily conducts export transactions in foreign currencies such as USD, making it susceptible to exchange rate fluctuations that can impact operational performance [2]. - The foreign exchange hedging activities aim to prevent adverse effects from currency volatility, enhance the efficiency of foreign exchange funds, and reduce financial costs [2]. - The hedging activities will include various products such as forward foreign exchange contracts, foreign exchange swaps, and other foreign exchange derivatives, with a maximum amount of $50 million or equivalent [2]. Group 2: Risk Analysis and Control Measures - The company acknowledges potential risks including market risk, operational risk, and default risk, and has implemented several control measures [3]. - The hedging activities are based on normal business operations and are not intended for speculative trading [3]. - The finance department will continuously monitor market information and assess risk exposure, while a specific management regulation for foreign exchange hedging has been established [3]. Group 3: Impact on the Company and Opinions - The foreign exchange hedging activities are expected to enhance the company's ability to manage foreign exchange risks, thereby protecting operational performance and profits [4]. - The supervisory board supports the initiative, confirming that it aligns with the company's development needs and complies with legal procedures [4]. - The sponsoring institution agrees with the decision, emphasizing the importance of training for staff and adherence to risk control measures to prevent speculative behavior [4].

Core Viewpoint - The document outlines the foreign exchange hedging management system of Qingdao Richen Food Co., Ltd., emphasizing the importance of risk management and compliance with relevant laws and regulations [1][2]. Summary by Sections General Principles - The system aims to strengthen the management of foreign exchange hedging, standardize related operations, and prevent risks associated with exchange rate fluctuations [1]. - The policy applies to the company and its subsidiaries, requiring approval for any hedging operations [1]. Operational Principles - The company is prohibited from engaging in speculative foreign exchange trading; all hedging activities must be based on actual business needs [2]. - Transactions must be conducted through qualified financial institutions approved by the State Administration of Foreign Exchange and the People's Bank of China [2]. - The company must have sufficient own funds for hedging activities and adhere to approved trading limits [2]. Approval Authority - Any foreign exchange hedging activities require a feasibility analysis report to be submitted for board approval, and certain conditions necessitate shareholder approval [4]. - Specific thresholds for transaction guarantees and contract values are set, including a cap of 50% of the latest audited net profit for certain transactions [4]. Internal Operating Procedures - The finance department is responsible for the execution and management of hedging activities, including risk management and documentation [6][7]. - A detailed internal process is established for forecasting foreign currency receipts and payments, analyzing market conditions, and executing approved hedging plans [7]. Confidentiality - All personnel involved in hedging activities must maintain confidentiality regarding the company's hedging strategies and financial information [8]. Internal Risk Reporting and Management - The finance department must ensure timely settlement with financial institutions based on actual foreign exchange inflows and outflows [8]. - In case of significant exchange rate fluctuations, the finance department must analyze the situation and report to the general manager for further instructions [8]. Information Disclosure - The company is required to disclose information regarding its foreign exchange hedging activities in accordance with regulations from the China Securities Regulatory Commission and the Shanghai Stock Exchange [9]. - Any significant risks associated with hedging activities must be disclosed promptly if they meet regulatory standards [9]. Definitions and Additional Provisions - The document includes definitions for various hedging instruments such as forward foreign exchange contracts, foreign exchange swaps, and currency swaps [9]. - The policy is subject to revisions based on future legal and regulatory changes [9].

Core Viewpoint - The company intends to conduct foreign exchange hedging activities to mitigate risks associated with currency fluctuations, thereby enhancing financial stability and efficiency in the use of foreign exchange funds [1][2][5]. Group 1: Overview of Foreign Exchange Hedging Activities - The purpose of the foreign exchange hedging activities is closely related to the company's daily operations, aiming to prevent adverse effects from significant currency fluctuations [1][2]. - The company plans to engage in hedging activities using currencies that are relevant to its business operations, including but not limited to USD and EUR [1][2]. - The hedging activities will include various financial instruments such as forward foreign exchange contracts, foreign exchange swaps, foreign exchange options, and other derivatives [1][2]. Group 2: Financial Limits and Approval Process - The company estimates that it will use no more than $15 million or equivalent foreign currency for hedging activities, with the ability to roll over funds within this limit [2][5]. - The funding for these hedging activities will come from the company's own funds, and the board of directors has authorized the chairman or their designee to approve daily hedging plans and sign related contracts [2][5]. - The validity of the hedging activities is set for 12 months from the date of board approval [2][5]. Group 3: Risk Analysis and Control Measures - The company acknowledges that while hedging is intended to mitigate risks, it may still face market judgment risks due to unforeseen economic changes [3][4]. - To manage these risks, the company will monitor market conditions and adjust strategies accordingly, ensuring compliance with legal regulations and internal controls [4][5]. - The company will also focus on managing foreign currency receivables to avoid overdue accounts, thereby reducing default risks [4][5]. Group 4: Opinions from Governance Bodies - The board of directors unanimously agrees to the proposed hedging activities, stating that they align with the company's operational needs and do not harm the interests of shareholders [5]. - The supervisory board also supports the decision, confirming that the process complies with relevant laws and regulations [5]. - The sponsoring institution has verified that the approval process for the hedging activities meets legal requirements and does not pose risks to the company or its shareholders [5][6].

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 document outlines the regulations and management framework for the foreign exchange hedging business of KJ Intelligent Technology Co., Ltd, emphasizing the importance of risk management and compliance with relevant laws and regulations [1][2][3]. Summary by Sections General Principles - The foreign exchange hedging business aims to mitigate currency and interest rate risks through various financial instruments, including forward contracts, swaps, and options [1]. - The policy applies to the company and its subsidiaries, prohibiting subsidiaries from engaging in hedging activities without company approval [1]. Operational Principles - The company must conduct hedging activities legally, prudently, and effectively, ensuring that all transactions are based on actual business operations and not for speculative purposes [2]. - Transactions are only permitted with qualified financial institutions approved by the State Administration of Foreign Exchange and the People's Bank of China [2]. - Hedging contracts must align with the company's foreign currency cash flow forecasts, and the amounts involved should not exceed these forecasts [2]. Responsibilities and Approval Authority - The finance center is responsible for executing hedging activities, while the internal audit center oversees compliance and risk management [3][4]. - The board of directors and shareholders' meeting are the decision-making bodies for hedging activities, requiring feasibility reports for transactions exceeding certain thresholds [4][5]. Management and Internal Procedures - The finance center must monitor currency trends and develop hedging plans, while the internal audit department reviews the execution and financial implications of these activities [6][7]. - All personnel involved in hedging must adhere to confidentiality protocols to protect sensitive information [7]. Risk Reporting and Disclosure - The finance center is tasked with tracking market prices and assessing risk exposure, reporting findings to management and the board [8]. - The company must disclose hedging activities and any significant losses that exceed specified thresholds, ensuring transparency in financial reporting [8][9].

Core Viewpoint - The document outlines the foreign exchange hedging policy of Jiangxi Fuxiang Pharmaceutical Co., Ltd., emphasizing risk management and compliance with relevant laws and regulations [3][4][5]. Summary by Sections General Provisions - The policy aims to standardize the foreign exchange hedging activities of the company and its subsidiaries to effectively prevent and control risks [3]. - Foreign exchange hedging activities are defined as transactions conducted with qualified financial institutions to mitigate exchange rate or interest rate risks [3]. Operational Regulations for Foreign Exchange Hedging - The company will not engage in hedging solely for profit; all activities must be based on normal business operations and aimed at risk avoidance [4]. - Transactions are restricted to approved financial institutions, and the company must establish its own hedging accounts [4][5]. - The company must have sufficient self-owned funds to match the margin for hedging activities and cannot use raised funds for these transactions [4]. Approval Authority for Foreign Exchange Hedging - All hedging activities require approval from the board of directors or shareholders, with specific thresholds for reporting to shareholders based on investment amounts [5][6]. - The chairman of the board or authorized personnel are responsible for the implementation and management of hedging activities [6]. Management and Internal Procedures - The finance department is responsible for the execution of hedging activities, including planning, funding, and daily management [7]. - The audit department oversees the actual operations of hedging activities, ensuring compliance and monitoring financial performance [7]. Confidentiality and Risk Reporting - All personnel involved in hedging must adhere to confidentiality protocols regarding the company's hedging strategies and financial information [8]. - In the event of significant risks or losses, the finance department must report to the board and propose countermeasures [8]. Information Disclosure - The company is required to disclose relevant information regarding its foreign exchange hedging activities in accordance with regulations from the China Securities Regulatory Commission and the Shenzhen Stock Exchange [8]. Miscellaneous - The policy will take effect upon approval by the board and will be interpreted by the board of directors [9].