Core Insights - The article discusses the five major challenges faced by enterprises in the current international landscape, including price volatility, exchange rate fluctuations, external demand uncertainty, compliance risks, and interest rate management [1][2] - The futures market is highlighted as a crucial tool for enterprises to stabilize expectations and manage risks effectively [2][3] - The need for customized, full-cycle professional services in the futures market is emphasized, as many enterprises face difficulties due to a lack of professional talent, weak risk control systems, and financial pressures [3][4] Group 1: Challenges Faced by Enterprises - Enterprises are experiencing increased pressure from commodity price fluctuations, leading to inventory value volatility [2] - External demand uncertainty is causing enterprises to adopt conservative investment behaviors [2] - Exchange rate volatility is increasing the pressure on enterprises regarding cross-border settlement and foreign exchange losses [2] - Enterprises are required to allocate more resources to manage legal risks [2] - The difficulty in managing interest rate risks is rising for financial enterprises [2] Group 2: Role of the Futures Market - The futures market serves as a "shield" for enterprises, providing price discovery and risk management solutions [2][3] - The maturity of the futures market and the diversification of its participants enhance its ability to capture supply-demand changes and macroeconomic sentiments [2][3] - Futures tools like hedging are essential for enterprises to manage risks and optimize resource allocation [2][3] Group 3: Expectations from Futures Companies - Enterprises expect customized services that consider their specific circumstances, such as their scale and supply chain dynamics [4][5] - There is a demand for full-cycle support in building risk management systems, including institutional development and process optimization [4][5] - Enterprises seek comprehensive support from futures companies, including policy interpretation and professional training to lower the barriers to using futures tools [5][6] Group 4: Innovations and Solutions - Futures companies are leveraging financial technology and innovative models, such as AI-driven research and "insurance + futures" to address the challenges faced by small and medium-sized enterprises [3][5] - The need for more tailored futures products that align with the realities of various industries is highlighted, along with the importance of refining contract designs [5][6] - The article suggests enhancing investor education to change the perception of futures as high-risk instruments and to improve market participation [6][7]

Core Viewpoint - The futures market is increasingly recognized as a vital tool for risk management and resource optimization across various entities, including state-owned enterprises, which are leveraging these tools to enhance the resilience of the industrial chain and support high-quality economic development [2][3][15]. Group A: Role of Futures in Risk Management - Futures tools are not merely financial instruments but essential risk management tools rooted in the industry, with state-owned enterprises playing a significant role in optimizing the industrial ecosystem [3][4]. - The application of futures tools by companies like Wuchan Zhongda Chemical has demonstrated their effectiveness in stabilizing operations amidst significant commodity price fluctuations [4][5]. - Wuchan Zhongda Chemical has established a comprehensive risk control system that includes variety access, risk warning, and position monitoring to ensure all transactions align with physical operations, thereby preventing speculative behavior [4][5]. Group B: Innovations in Futures Application - Wuchan Zhongda Chemical has evolved from single hedging to a diversified futures ecosystem, creating a research institute that integrates research, trading, and operations to enhance its competitive edge [7][8]. - The company employs various models, including basis trading and option trading, to manage price risks effectively, with 95% of its liquefied gas transactions in 2024 utilizing basis trading [7][8]. - The innovative approach of combining futures pricing with basis trading has allowed Wuchan Zhongda Chemical to optimize costs and support traditional distributors in transitioning from losses to profits [9][10]. Group C: Challenges and Opportunities in Futures Participation - State-owned enterprises face challenges in participating in the futures market, including a lack of understanding among external auditors and regulatory bodies regarding derivative products, which increases communication costs [11][12]. - The balance between market responsiveness and compliance management is a significant challenge for state-owned enterprises, necessitating a careful approach to risk control while adapting to market changes [11][12]. - Companies like Fuhai Chuang have developed risk assessment mechanisms to evaluate futures products, ensuring that participation in hedging activities remains within manageable risk limits [12][13]. Group D: Future Directions for State-Owned Enterprises - The participation of state-owned enterprises in the futures market is expected to expand, with a growing recognition of the market's functions in risk management and resource allocation [15][16]. - To enhance the integration of state-owned enterprises with the futures market, it is recommended to build collaborative ecosystems, reform regulatory frameworks, and cultivate talent that understands both futures and physical markets [16][17]. - The ongoing efforts of state-owned enterprises in utilizing futures tools are anticipated to significantly improve the resilience of the entire industrial chain, contributing to the high-quality development of the real economy [17].

Group 1 - The core viewpoint of the articles emphasizes the active response of Guoyuan Futures to the national rural revitalization strategy through party building and industry support initiatives [1][3] - Guoyuan Futures Third Party Branch signed a cooperation agreement with Wanglou Village Party Branch, outlining goals, content, and mechanisms for joint efforts in party building and rural revitalization [1][2] - The training conducted by Guoyuan Futures aimed to enhance local residents' understanding of the futures market and their ability to use futures tools for risk management in agricultural production [2] Group 2 - The visit to Wanglou Village included an in-depth investigation of the local white goose breeding base, which is a key industry project facing challenges in technology, market sales, and brand development [2] - Guoyuan Futures plans to leverage its professional advantages and resources to support the breeding base in areas such as futures hedging, market information services, and brand promotion, aiming to increase production efficiency and farmers' income [2] - The company will continue to strengthen communication and collaboration with Wanglou Village in party building, industry support, and knowledge training to contribute more to rural revitalization [3]