Summary of Key Points Core Viewpoint - Zhejiang Hengtong Holdings Co., Ltd. has approved the implementation of futures hedging business to mitigate risks associated with commodity price fluctuations, specifically focusing on copper and other raw materials [2][4]. Trading Information - On July 11, 2025, Hengtong shares closed at 3.0 yuan, up 5.26%, with a turnover rate of 4.42%, trading volume of 1.3138 million shares, and a total transaction value of 388 million yuan [1]. - The capital flow on the same day indicated a net outflow of 48.6161 million yuan from main funds, accounting for 12.52% of the total transaction value, while retail investors saw a net inflow of 25.7266 million yuan, representing 6.62% of the total [1][4]. Company Announcements - The 21st meeting of the 9th Board of Directors of Hengtong was held on July 11, 2025, where three proposals were unanimously approved: 1) Initiating futures hedging business; 2) Approving the feasibility report for the hedging business; 3) Revising the management system for futures hedging business [1][4]. - The company plans to engage in futures and options hedging for commodities like copper, with a maximum margin and premium not exceeding 75 million yuan and a maximum contract value of 375 million yuan on any trading day [2]. - The hedging business aims to enhance the company's risk resilience and financial stability, with strict internal controls and risk management measures in place [2].