Feasibility Analysis Report on Forward Foreign Exchange Settlement and Foreign Exchange Options Business

✨ AI Summary

The report outlines the feasibility of conducting forward foreign exchange settlement and foreign exchange options to mitigate foreign exchange risks associated with the company's expanding overseas sales. The proposed business will involve a maximum amount of RMB 100 million and will be executed within one year. The company aims to enhance financial stability and has established risk control measures to manage potential market, operational, and legal risks.

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I. Situation of Conducting Forward Foreign Exchange Settlement and Foreign Exchange Options Business

Purpose of the Business In recent years, Miracll New Materials Co., Ltd. (hereinafter referred to as "the Company") has gradually expanded its overseas sales, primarily settling in foreign currencies such as USD and EUR. To effectively mitigate foreign exchange market risks and prevent adverse impacts from significant exchange rate fluctuations, the Company (including subsidiaries) intends to conduct forward foreign exchange settlement and foreign exchange options business.
Business Amount and Duration The Company plans to conduct forward foreign exchange settlement and foreign exchange options business not exceeding the equivalent of RMB 100 million (including principal). This amount will be valid for one year from the date of approval by the Board of Directors and can be used in a rolling manner within the specified limits and duration, with any transaction amount at any point in time not exceeding the investment limit.
Business Method The business proposed by the Company involves forward foreign exchange settlement and foreign exchange options, where the Company will sign contracts with financial institutions qualified to conduct these businesses, specifying the foreign currency, amount, exchange rate, and duration for future foreign exchange transactions. The currencies involved will be limited to USD, EUR, and other relevant settlement currencies related to the Company's operations. The Board of Directors authorizes the management to sign relevant contract documents within the specified limits, with the finance department responsible for organizing implementation.
Source of Funds The Company will use its own funds for the forward foreign exchange settlement and foreign exchange options business, without involving raised funds.

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