Group 1 - The core viewpoint of the news is the launch of a training program by the Shanghai Futures Exchange (SHFE) aimed at enhancing the ability of futures companies to serve the real economy, with a focus on familiarizing participants with exchange business rules and practices [1] - The training series consists of three sessions, with the first session held in Shenzhen, a key city in the Guangdong-Hong Kong-Macao Greater Bay Area, emphasizing financial openness and high-quality development of listed companies [1] - Participants showed significant interest in the internationalization process of SHFE and the application of hedge accounting for listed companies during the training [1] Group 2 - The internationalization of SHFE's business rules has garnered considerable market attention, with new management measures and revised rules implemented in August 2023 [2] - The overall strategy for the internationalization of rules includes enhancing the SHFE platform for international participants, promoting the internationalization of the Renminbi, and exploring a unique regulatory framework for futures [2] - Key changes in the business rules include the addition of one management measure, the revision of 15 management measures, and 19 product specifications, focusing on market access, trading, risk control, settlement, and delivery systems [2] Group 3 - SHFE is committed to implementing regulatory measures to prevent risks and promote high-quality development in the futures market, ensuring a stable market operation while gradually opening up eligible commodity futures and options [3] - The importance of hedge accounting has increased as more listed companies engage in hedging activities, which allows for the recognition of changes in fair value or cash flows in the same accounting period to reduce performance volatility [4] - Companies must meet specific criteria before applying hedge accounting, including clear documentation and ongoing assessment of the hedging relationship [4][5] Group 4 - The choice of hedging instruments typically includes derivatives such as forward contracts, futures contracts, swaps, and options, with careful consideration of their potential to offset risks [4] - Companies are advised to integrate hedge accounting requirements into their management systems and processes to facilitate the use of hedge accounting, indicating a high level of management in hedging activities [5][6]

Core Viewpoint - The training session aims to enhance the risk management capabilities of state-owned enterprises and listed companies in Guangdong by utilizing the futures market effectively, thereby promoting high-quality development of the real economy [1][5]. Group 1: Training Objectives and Content - The training session was organized by Zhengzhou Commodity Exchange (ZCE) in collaboration with various local financial and regulatory bodies to address the increasing risk management needs of enterprises amid rising market volatility and trade uncertainties [1]. - Experts discussed various topics including macroeconomic conditions, commodity market dynamics, hedging accounting, internal control mechanisms for state-owned enterprises, and risk management strategies for listed companies [1][2]. Group 2: Industry Insights and Case Studies - The CEO of Hedging Network emphasized that hedging is evolving from a risk management tool to a strategic component for enterprises, integrating supply chain security management [2]. - A case study from Zhongmian Group highlighted its successful transition to a service-oriented business model, utilizing futures to manage costs and profits effectively, achieving nearly 2 million tons of cotton transactions through innovative pricing strategies [3]. - The research director from Hengyi International Trade shared successful risk management cases using futures and options, demonstrating the benefits of a pricing model that reconciles upstream and downstream interests in the polyester industry [3]. Group 3: Collaboration and Future Plans - ZCE has established numerous delivery warehouses in Guangdong and has been actively involved in projects like "insurance + futures" to support local enterprises [4]. - The collaboration between ZCE and Dalian Commodity Exchange (DCE) is seen as a new starting point for enhancing service offerings to meet local industry needs, with various training programs and projects aimed at supporting state-owned and leading enterprises [4][5]. - Future plans include continued cooperation between ZCE and DCE to innovate service models and provide comprehensive support to enterprises navigating complex market environments [5].