DRINDA (02865) and Its Subsidiaries Plan to Conduct Foreign Exchange Hedging Business

Stock News
Sep 29

DRINDA (02865) announced that to effectively mitigate and prevent foreign exchange risks, reduce adverse impacts from significant exchange rate fluctuations on the company and its subsidiaries' operations, and enhance financial stability, the company and its subsidiaries plan to conduct foreign exchange hedging business. The proposed foreign exchange hedging business is designed to meet normal operational needs and aims to avoid and prevent exchange rate risks, without engaging in purely profit-driven speculative and arbitrage transactions. The foreign exchange hedging business that the company and its subsidiaries plan to conduct will have a limit of no more than RMB 1.9 billion (inclusive) or equivalent in other currencies. This limit can be used on a revolving basis within the investment period, but the cumulative amount at any point during the period shall not exceed RMB 1.9 billion or equivalent in other currencies.

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