Core Viewpoint - The company has established a risk investment management system to regulate its risk investment activities, enhance risk control, and protect the interests of investors and the company itself [1][2]. Group 1: General Principles - The risk investment includes various forms such as stock investments, fund investments, futures, and real estate investments, excluding fixed-income or guaranteed principal investments [2]. - The company must adhere to principles of standardized operations, risk prevention, cautious investment, and value preservation while ensuring that investments do not affect its normal operations [2][3]. Group 2: Approval Process - Risk investments exceeding 10% of the company's latest audited net assets must be approved by the board of directors, while those over 50% require shareholder meeting approval [3]. - The company must establish a dedicated securities trading account for risk investments, ensuring compliance with regulations regarding account management [3][4]. Group 3: Implementation of Risk Investments - Personnel involved in risk investments must be knowledgeable about relevant laws and regulations, and external experts may be consulted to enhance risk management [4]. - The finance center is responsible for the specific implementation of risk investments, including fund allocation and transaction documentation [5]. Group 4: Risk Control - Strict risk control measures must be in place, with a separation of duties between investment operations and fund management to ensure oversight [5][6]. - The finance center must monitor the usage and safety of investment funds, reporting any anomalies promptly [6]. Group 5: Information Disclosure - The company is required to fulfill information disclosure obligations in accordance with relevant laws and internal regulations [6][7]. - Risk investment activities must be accurately accounted for in financial statements as per accounting standards [7]. Group 6: Miscellaneous Provisions - Any matters not covered by this system will be governed by applicable laws and regulations, and the board of directors is responsible for revisions and interpretations of the system [7].

Report Core View - The transportation of lychees in ancient Chang'an and modern futures markets share similarities in aspects such as supply - demand game, time value, risk management, human nature, and information warfare, and true investment wisdom lies in building a sustainable trading system [2][3][5] Similarities between Lychee Transportation and Futures Market Supply - Demand Game - Just as the supply and demand of lychees in Chang'an led to price fluctuations, the supply and demand of commodities in the futures market also determine price changes. Smart investors and ancient merchants both use methods to avoid risks [3] Time Value - The time - related decay of lychee value during transportation is similar to the "time decay" principle of futures contracts. Both ancient and modern people take measures to combat the loss of value [3] Risk Management - In both the lychee business and the futures market, extreme situations can cause price fluctuations. Investors need to use methods like diversifying positions and setting stop - loss points to manage risks [3] Human Nature - Greed and fear in the futures market are similar to the power games in Chang'an. Overcoming human weaknesses is crucial for successful investment [4] Information Warfare - Information about lychees and court dynamics in ancient times is similar to market information in modern futures trading. Investors need to build their own analysis frameworks to avoid being misled by information [4]

Core Viewpoint - The company, Huali Co., Ltd. (603038), announced that it and its controlling subsidiaries will utilize a total amount not exceeding RMB 100 million of its own funds for venture investments, with the funds being available for rolling use [1] Investment Scope - The investment scope includes entrusted wealth management, securities investment, fund investment, futures investment, private equity investment funds, and securities investment products based on the aforementioned investments [1] - The company will also engage in other investment activities recognized by the China Securities Regulatory Commission and the Shanghai Stock Exchange [1]