法兰泰克重工股份有限公司 二零二五年八月 法兰泰克重工股份有限公司 期货和衍生品交易管理制度 第一章 总则 第二章 交易品种与类型 第五条 公司从事套期保值业务的期货和衍生品品种应当仅限于与公司生产 经营相关的产品、原材料和外汇等，且原则上应当控制期货和衍生品在种类、规 模及期限上与需管理的风险敞口相匹配。用于套期保值的期货和衍生品与需管理 的相关风险敞口应当存在相互风险对冲的经济关系，使得期货和衍生品与相关风 险敞口的价值因面临相同的风险因素而发生方向相反的变动。 法兰泰克重工股份有限公司 期货和衍生品交易管理制度 第六条 本制度所述套期保值业务主要包括以下类型的交易活动： 第一条 为规范法兰泰克重工股份有限公司（以下简称"公司"）期货和衍 生品交易行为，加强对期货和衍生品交易的管理，有效防范和控制风险，确保公 司资产安全，维护公司及股东利益，根据《中华人民共和国公司法》《中华人民 共和国证券法》 《上海证券交易所股票上市规则》 《上海证券交易所上市公司自律 监管指引第 5 号——交易与关联交易》等有关法律法规、规范性文件和《公司章 程》的有关规定，结合公司实际情况，制定本制度。 第二条 本制度所称期货交易 ...

Group 1 - The 2025 China (Zhengzhou) International Futures Forum focused on risk management for industrial enterprises and the high-quality development of China's futures and derivatives market [1] - As of July 2025, 1,114 listed companies in the market have engaged in futures and derivatives business, with over 80% (902 companies) involved in foreign exchange hedging and about one-third (364 companies) in commodity futures hedging [1] - The manufacturing sector is the main force in hedging activities, covering industries such as chemicals and agricultural products, facilitating industrial upgrades and overseas expansion [1] Group 2 - Derivatives have become an essential tool in enterprise risk management, and companies are encouraged to establish professional risk management teams to enhance their application capabilities [2] - As of July 2025, the total capital in the futures market reached approximately 1.82 trillion yuan, an increase of 11.6% from the end of 2024 [2] - The number of listed companies announcing hedging activities increased significantly, with 1,383 companies reporting hedging announcements in the first seven months of 2025, a year-on-year growth of 15.7% [2]

Core Viewpoint - The development quality of listed companies is crucial for the stability of the capital market, and effective risk management is a key dimension of this quality [1][2]. Group 1: Risk Management Trends - In 2025, from January to July, 1,114 listed companies engaged in futures and derivatives business, with approximately 80% (902 companies) involved in foreign exchange hedging, 33% (364 companies) in commodity futures hedging, and 15% (162 companies) in both [1]. - Manufacturing companies are the main participants in the futures market for hedging, particularly in the chemical and agricultural processing sectors, facilitating industry upgrades and overseas expansion [2]. - There is a growing trend towards systematic, refined, and global risk management among listed companies, with an increasing awareness of proactive hedging [2]. Group 2: Role of Associations and Guidelines - The China Listed Companies Association plays a pivotal role in guiding companies in rational participation in hedging, enhancing their quality of development [3]. - The Shanghai and Shenzhen Stock Exchanges have issued guidelines for the disclosure of hedging business information, leading to improved transparency and understanding of hedging effectiveness among investors [2][3]. Group 3: Recommendations for Companies - Companies are encouraged to establish a strong risk management awareness, avoid both conservative and speculative behaviors, and engage in regulated operations [4]. - It is essential for companies to develop a rigorous and efficient risk control system, including scientific decision-making and risk warning mechanisms [4]. - The cultivation of professional talent in derivatives risk management is critical, requiring a blend of knowledge in spot operations, financial theory, and risk control experience [4].

Core Viewpoint - The development of China's futures and derivatives market is accelerating, providing essential risk management tools for companies amid complex economic conditions and significant commodity price fluctuations [1] Group 1: Market Development - The 2025 China (Zhengzhou) International Futures Forum was held, highlighting the importance of risk management in the current economic climate [1] - The supply speed of risk management tools is increasing, and the product and service system is continuously improving [1] Group 2: Company Engagement - As of January to July 2025, 1,114 listed companies have announced their engagement in futures and derivatives business [1] - Over 80% (902 companies) are involved in foreign exchange hedging, while approximately one-third (364 companies) are engaged in commodity futures hedging [1] - About 15% (162 companies) are simultaneously involved in both commodity futures and foreign exchange derivatives [1]

Core Viewpoint - The training session aims to enhance the risk management capabilities of state-owned enterprises and listed companies in Henan, promoting the use of futures and derivatives to manage risks effectively in a complex global economic environment [1][2]. Group 1: Importance of Futures and Derivatives - Futures and derivatives serve as a "buffer" and "safe haven" for enterprises, emphasizing the need for robust management systems and professional teams to handle these financial instruments [2]. - The development of the futures market in China has provided more tools for enterprises to manage risks, with a well-established policy and market environment favoring listed companies that effectively utilize these tools [2][3]. Group 2: Training Content and Objectives - The training included sessions on macroeconomic analysis, internal control systems, and financial and tax processing, tailored to meet the actual needs of enterprises [4]. - The training aims to instill a correct understanding of hedging and to prevent enterprises from shifting focus from "risk management" to "speculative arbitrage," thereby enhancing their risk management capabilities [4]. Group 3: Support and Development of the Futures Market - The Henan government has been actively supporting the development of the futures market, with initiatives aimed at encouraging enterprises to participate and enhancing the market's competitive edge [1][3]. - Zhengzhou Commodity Exchange (ZCE) has established delivery service institutions across 11 cities in Henan, facilitating the integration of local agricultural and industrial products into the national delivery network [3].

Core Viewpoint - The document outlines the futures and derivatives trading management system of Trina Solar Limited, emphasizing risk management, compliance with regulations, and the structured approach to hedging activities. Group 1: General Principles - The system applies to the futures and derivatives trading activities of the company and its wholly-owned or controlled subsidiaries, which must be managed and operated uniformly by the company [3] - The trading activities must comply with relevant national laws and regulations, ensuring the safety of company assets [3][4] Group 2: Hedging Activities - Hedging activities include selling existing spot inventory, hedging fixed-price purchase and sales contracts, and hedging expected procurement or production volumes [2][3] - The company is prohibited from engaging in speculative trading and must only use hedging instruments related to its production and operational needs [4][5] Group 3: Approval and Management Process - A feasibility analysis report must be prepared for futures and derivatives trading and submitted for board approval, especially if certain financial thresholds are met [6] - The company must establish a trading working group responsible for the implementation of trading projects, with oversight from the audit department [15][16] Group 4: Risk Management and Reporting - The company must continuously track market price changes and assess the risk exposure of traded futures and derivatives, reporting to management and the board [10][23] - Any significant losses or risks must be reported immediately to senior management and the board, with necessary remedial measures discussed [23] Group 5: Information Disclosure - The company is required to disclose information regarding its hedging activities, including trading purposes, instruments, and any significant losses that meet specified thresholds [25][26] - The disclosure must be timely and accurate, ensuring transparency in the company's trading activities [12][28]