Stock Code: 002396 Stock Abbreviation: Star-Net Communication Announcement No.: Lin 2026-10 Fujian Star-Net Communication Co., Ltd. Announcement on Subsidiary's Engagement in Foreign Exchange Derivative Hedging Transactions The Company and all members of the Board of Directors guarantee the content of this announcement is true, accurate, and complete, and that there are no false representations, misleading statements, or material omissions.
Key Information Highlights:
- Transaction Purpose: Fujian Star-Net Communication Co., Ltd. (hereinafter referred to as "the Company" or "Star-Net Communication")'s holding subsidiary, Star-Net Network Co., Ltd. (hereinafter referred to as "Star-Net Network" or "the Subsidiary"), plans to engage in foreign exchange derivative transactions to enhance its ability to cope with foreign exchange market risks, hedge against adverse impacts of foreign exchange rate fluctuations on the Company's operating performance, and strengthen financial stability.
- Transaction Types, Instruments, and Amounts: The foreign exchange derivative transactions that Star-Net Network plans to engage in include, but are not limited to, spot transactions, forward transactions, swap transactions, option transactions, and other foreign exchange derivative products. The main foreign currencies involved are USD, JPY, etc. The maximum value of foreign exchange derivative contracts held by Star-Net Network on any single trading day shall not exceed RMB 400 million (or equivalent in foreign currency), and the maximum transaction margin and premium shall not exceed 10% of the highest contract value held on any single trading day.
- Transaction Venue: Banks and other financial institutions with legal qualifications for foreign exchange derivative trading.
- Deliberation Procedures Completed: This matter has been reviewed and approved by the nineteenth meeting of the seventh Board of Directors of the Company.
- Risk Warning: Star-Net Network's foreign exchange derivative transactions will be conducted in accordance with legal, prudent, safe, and effective principles, and will not involve speculative or arbitrage trading operations. However, the returns from foreign exchange derivative transactions are subject to exchange rate and interest rate fluctuations, and there are risks such as market risk, liquidity risk, internal control risk, and performance risk. Investors are kindly advised to pay attention to investment risks.
I. Overview of Transaction Situation