Core Viewpoint - The company intends to increase its foreign exchange derivatives trading limit to effectively hedge against foreign exchange market risks while supporting its operational needs, without engaging in speculative trading [1][2][5]. Group 1: Trading Overview - The purpose of the trading is to mitigate foreign exchange market risks and is based on normal production and operational needs [1]. - The types of foreign exchange derivatives to be traded include forward foreign exchange contracts, foreign exchange swaps, currency swaps, foreign exchange options, interest rate swaps, interest rate swaps, interest rate options, and their combinations, primarily involving USD and EUR [1]. - The total value limit for the foreign exchange derivatives contracts is proposed to be increased to $40 million or equivalent currencies, with a maximum contract value at any point not exceeding $40 million [2][3]. Group 2: Funding and Counterparties - The funding for the foreign exchange derivatives business will come from the company's own funds and will not involve raised capital [3]. - The trading counterparties will be commercial banks and financial institutions approved by regulatory authorities, with transactions conducted overseas to manage foreign exchange risks [3]. Group 3: Risk Analysis and Control Measures - The company acknowledges potential market risks associated with derivatives trading, including internal control weaknesses and operational risks [4]. - Risk control measures include strict adherence to internal regulations, professional training for staff, and regular audits by professional institutions [4]. Group 4: Impact on the Company - Engaging in foreign exchange derivatives trading is aimed at enhancing the company's ability to respond to foreign exchange fluctuations, thereby reducing financial costs and improving the efficiency of foreign currency usage [5]. Group 5: Approval Process - The company’s board approved the increase in the foreign exchange derivatives trading limit on August 27, 2025, and the matter will be submitted for shareholder approval [5]. Group 6: Sponsor's Review Opinion - The sponsor believes that the increase in the foreign exchange derivatives trading limit aligns with the company's operational needs and that appropriate risk management measures are in place [5][6].

Core Viewpoint - Great Wall Motor Co., Ltd. plans to engage in foreign exchange derivative trading to mitigate foreign exchange volatility risks and enhance financial stability [1] Group 1: Trading Details - The maximum contract value for foreign exchange derivative trading will not exceed RMB 20 billion or its equivalent in other currencies [1] - The expected margin and premium used will not exceed RMB 3.5 billion or its equivalent in other currencies at any point during the trading period [1] - The trading will include various instruments such as forward foreign exchange contracts, foreign exchange swaps, currency swaps, foreign exchange options, interest rate swaps, interest rate swaps, interest rate options, and their combinations [1] - The trading venues will be institutions with legal foreign exchange trading qualifications, and the company plans to conduct related business overseas [1] - The trading period will generally not exceed three years, matching the underlying transaction period [1] Group 2: Approval Process - The matter has been approved by the 41st meeting of the 8th Board of Directors and does not require submission to the shareholders' meeting [2] - The Board of Directors has authorized the Chief Financial Officer to exercise decision-making authority and sign relevant documents within the specified limits and duration [2] Group 3: Risk Analysis and Measures - Market risk exists due to potential differences between contract exchange rates and actual rates at maturity, which may lead to losses [3] - Liquidity risk may arise from unreasonable purchasing arrangements [3] - Counterparty risk is minimized as the company will only engage with financially sound institutions with which it has long-term business relationships [3] - The company will implement strict management systems for foreign exchange derivative trading, adhering to prudent and safe principles, and will not engage in speculative trading [3] - Regular audits and evaluations of derivative trading will be conducted by the internal audit department [3] Group 4: Accounting Treatment and Audit Opinion - The company will account for the foreign exchange derivative trading business according to relevant accounting standards [4] - The Audit Committee of the Board believes that this business is closely related to daily operational needs and can mitigate the impact of foreign exchange and interest rate fluctuations, thus it is reasonable and necessary [4]

Core Viewpoint - The company aims to enhance its ability to manage foreign exchange risk and improve financial stability by engaging in foreign exchange derivative transactions closely related to its main business [1][2][5] Summary by Relevant Sections Transaction Purpose - The company intends to mitigate foreign exchange rate fluctuations and enhance financial stability through foreign exchange derivative transactions, focusing on hedging rather than speculation [1][2] Transaction Types and Tools - The derivatives include but are not limited to forward foreign exchange contracts (including differential delivery), foreign exchange swaps, currency swaps, foreign exchange options, interest rate swaps, interest rate swaps, interest rate options, and their combinations [1][4] Transaction Amount, Margin, and Premium - The maximum contract value held at any point during the transaction period will not exceed RMB 20 billion or its equivalent in other currencies [1][2] - The expected margin and premiums utilized will not exceed RMB 3.5 billion or its equivalent in other currencies at any point during the transaction period [1][2] Funding Sources - The funding for the foreign exchange derivative transactions will primarily come from the company's own funds [3] Risk Analysis and Control Measures - The company will engage in transactions with reputable financial institutions to minimize credit risk and will implement strict risk management principles to avoid speculative trading [5][6] - The company has established a management system for foreign exchange derivative transactions and has taken effective risk control measures [5][6] Accounting Policies and Principles - The company will follow relevant accounting standards for the recognition and measurement of financial instruments in its foreign exchange derivative transactions [5] Board Committee Review Opinion - The board's audit committee supports the foreign exchange derivative transactions as they are closely related to daily operational needs and can mitigate the impact of exchange rate fluctuations on the company [5]

Core Viewpoint - Zhejiang Zhongxin Environmental Protection Technology Group Co., Ltd. plans to increase its foreign exchange derivatives trading limit from $20 million to $40 million due to foreign exchange market fluctuations and an increase in foreign currency deposits [1][2]. Business Situation - The company initially set a total value limit of $20 million for foreign exchange derivatives contracts, which can be rolled over within 12 months from the date of shareholder meeting approval. As of June 30, 2025, the balance of foreign exchange derivatives trading was $19.35 million [2]. - After the increase, the maximum cumulative contract value at any point during the period from the first extraordinary general meeting in 2025 to December 1, 2025, will not exceed $40 million [2]. Business-Related Information - The purpose of the trading is to effectively hedge against foreign exchange market risks, aligning with funding management requirements and daily operational needs, without engaging in speculative trading for profit [3]. - The trading instruments include forward foreign exchange contracts, foreign exchange swaps, currency swaps, foreign exchange options, interest rate swaps, interest rate swaps, interest rate options, and their combinations, involving major currencies such as USD and EUR [3]. - The funding source will be the company's own funds, and the trading will be conducted with qualified domestic and international financial institutions [3]. - The board of directors will seek authorization from the shareholders' meeting for the chairman or authorized personnel to make decisions and sign relevant legal documents within the set limits [3]. Review Procedure - The company held its second board meeting on August 27, 2025, where the proposal to increase the foreign exchange derivatives trading limit was approved, pending shareholder meeting approval [4]. - The company has established a foreign exchange trading management system and implemented various risk control measures, including market adjustment strategies and regular internal audits [4].

Overview - The company plans to engage in foreign exchange derivative trading to hedge against currency fluctuations affecting its export business, aiming to enhance the efficiency of foreign exchange fund usage [1][2] Transaction Details - The maximum transaction amount approved for the company and its subsidiaries is set at an equivalent of 30,000 million USD at any given time [1][2] - The funding for these transactions will come from the company's own funds, without involving raised capital [1] - The trading methods include forward foreign exchange sales, swaps, options, and interest rate derivatives, among others, to mitigate currency and interest rate risks [1][2] Approval Process - The proposal for foreign exchange derivative trading was approved during the eighth board meeting and the seventh supervisory meeting held on August 25, 2025, and will be submitted for further approval at the third extraordinary general meeting of shareholders in 2025 [2] Risk Management - The company has established internal management systems and processes for derivative trading, focusing on hedging rather than speculative trading [2][3] - Various risks such as market risk, liquidity risk, performance risk, and legal risk are acknowledged, with measures in place to mitigate these risks [3] Impact on the Company - Engaging in foreign exchange derivative trading is expected to effectively lock in exchange rates and mitigate potential risks from currency fluctuations, thereby enhancing the company's financial stability and protecting shareholder interests [4]

Core Viewpoint - The company has established a comprehensive management system for foreign exchange derivative trading to mitigate investment risks and ensure asset safety, adhering to relevant laws and regulations [1][2][3]. Group 1: Foreign Exchange Derivative Trading Business - The foreign exchange derivative trading business is defined as operations conducted to hedge against exchange rate or interest rate risks, including various financial instruments such as forward contracts, swaps, and options [1][2]. - The company will not engage in foreign exchange derivative trading for profit-making purposes; all transactions must be based on normal business operations [2][3]. - Transactions are only permitted with qualified financial institutions approved by the State Administration of Foreign Exchange and the People's Bank of China [2]. Group 2: Approval and Management Structure - All foreign exchange derivative trading activities require prior approval from the company's general manager, deputy general manager, or financial director, regardless of the transaction amount [3]. - The board of directors serves as the decision-making body for foreign exchange derivative trading, while the general manager's office manages daily operations within the authorized scope [2][3]. Group 3: Risk Management and Compliance - The company must establish a strict risk management mechanism to prevent and mitigate credit, market, operational, and legal risks associated with foreign exchange derivative trading [6][7]. - Any significant losses or risks must be reported immediately to the board of directors, and the company is required to disclose relevant information in accordance with regulatory requirements [8]. - All personnel involved in foreign exchange derivative trading must adhere to confidentiality agreements to protect sensitive information [6][7]. Group 4: Documentation and Record Keeping - The financial department is responsible for maintaining records of trading plans, transaction documents, and delivery materials for a minimum of 10 years, while original agreements and authorization documents must be kept for at least 15 years [8].

Core Viewpoint - Jingrui Electronic Materials Co., Ltd. has approved a proposal to engage in foreign exchange derivative trading to mitigate risks associated with currency fluctuations [1][4]. Group 1: Trading Basic Information - The company and its subsidiaries are involved in foreign currency settlements for raw material imports and product exports, primarily in USD, JPY, and HKD [2]. - The maximum contract value held on any trading day is expected to not exceed $6.5 million, with a maximum margin and premium limit of $650,000 [2]. - The trading period is set for 12 months following the board's approval, with the ability to roll over the usage of the limit [2]. - The trading will involve various instruments, including forward foreign exchange contracts, swaps, options, and interest rate derivatives [2]. Group 2: Risk Analysis and Control - The company acknowledges several risks associated with foreign exchange derivative trading, including market risk, liquidity risk, credit risk, policy risk, operational risk, and forecasting risk [3]. - To mitigate these risks, the company has implemented strict management protocols, including prohibiting speculative trading, collaborating with qualified financial institutions, and continuous monitoring of price changes [4]. - The board and supervisory committee have approved the trading activities, emphasizing that they align with the company's operational needs and do not harm shareholder interests [4].

Core Viewpoint - The company and its subsidiaries plan to engage in foreign exchange derivative trading to hedge against currency fluctuations, thereby enhancing financial stability and risk management capabilities [2][3][7] Group 1: Basic Information on Foreign Exchange Derivative Trading - The primary investment objective is to mitigate risks associated with currency fluctuations due to the company's import and export activities, predominantly involving USD, JPY, and HKD [2][3] - The maximum contract value held on any trading day is expected to not exceed 6.5 million USD (or equivalent foreign currency), with a maximum margin and premium limit of 650,000 USD (or equivalent) [2][3][6] - The trading will be conducted with reputable domestic and foreign banks that have the qualifications for foreign exchange derivative trading [3][4] Group 2: Risk Analysis and Control Measures - The company aims to avoid speculative trading and focuses on hedging, although risks such as market liquidity and operational errors still exist [4][5] - Risk control measures include strict adherence to internal procedures, approval authority, and regular reporting of risk exposure changes to management [5][6] - The company has established a management system for foreign exchange derivative trading and has taken necessary risk control measures [7] Group 3: Approval Procedures - The board of directors has approved the foreign exchange derivative trading proposal, allowing the use of self-owned funds for the transactions without requiring shareholder approval [6][7] - The supervisory board supports the initiative, recognizing its potential to enhance financial stability and risk management without harming shareholder interests [6][7]

Core Viewpoint - The document outlines the management system for foreign exchange derivative trading at Hanbo High-tech Materials (Hefei) Co., Ltd, emphasizing the need for risk prevention, compliance with regulations, and safeguarding company assets [1][2]. Group 1: Definition and Scope - Foreign exchange derivative business includes various transactions aimed at hedging against exchange rate risks, such as forward contracts, options, futures, and swaps [2]. - The system applies to all subsidiaries of the company, prohibiting subsidiaries from engaging in derivative trading without company approval [2]. Group 2: Operational Principles - The company must conduct foreign exchange derivative trading legally, prudently, and effectively, focusing on risk mitigation related to exchange and interest rates [3]. - Transactions are only permitted with qualified financial institutions approved by the State Administration of Foreign Exchange and the People's Bank of China [3][4]. Group 3: Approval Authority - The company's shareholders' meeting and board of directors serve as the decision-making bodies for foreign exchange derivative trading, requiring approval for any trading activities [4][5]. - Subsidiary management does not have final approval authority for derivative trading; all transactions must be reported for unified approval [5]. Group 4: Internal Procedures - The finance department is responsible for managing foreign exchange derivative trading, including planning, funding, and daily management [6]. - The internal process includes risk assessment, contract review by the legal department, and compliance with approval procedures before executing trades [6][7]. Group 5: Information Disclosure and Record Keeping - The company must disclose foreign exchange derivative trading information in accordance with regulations from the China Securities Regulatory Commission and the Shenzhen Stock Exchange [8][9]. - The finance department is tasked with maintaining all relevant documentation related to foreign exchange derivative trading [9].

Core Viewpoint - The company, Morning Light New Materials, has approved a proposal to engage in foreign exchange derivative trading, allowing for a total trading amount of up to 90 million USD or equivalent currencies [1] Group 1: Business Operations - The board of directors approved the proposal during the 13th meeting of the third session on August 14, 2025 [1] - The foreign exchange derivative trading will include forward foreign exchange settlements, foreign exchange swaps, foreign exchange options, interest rate swaps, interest rate options, and currency swaps, among other combinations [1] - The trading activities are authorized to be executed by the company's management within the specified limits and duration [1] Group 2: Financial Limits - The cumulative trading amount for the foreign exchange derivatives is capped at 90 million USD [1] - The trading activities can be rolled over within the approved limits and duration [1]