301345SZSE

Announcement on Conducting Foreign Exchange Hedging Business

Zhejiang Taotao Vehicles Co., Ltd.·

✨ AI Summary

Zhejiang Taotao Vehicle Co., Ltd. plans to conduct foreign exchange hedging business with a limit of up to $150 million or equivalent in other currencies. This decision aims to mitigate risks from exchange rate fluctuations and enhance financial stability. The hedging activities will include various financial derivatives and are authorized for a period of 12 months. The company emphasizes that these activities are not speculative and are based on actual business needs.

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Full Translation

AI Translation· azure_openai

Announcement on Conducting Foreign Exchange Hedging Business

Zhejiang Taotao Vehicle Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without false records, misleading statements, or significant omissions.

Important Content Reminder:

  1. To effectively prevent and mitigate risks arising from exchange rate fluctuations, enhance the Company's risk response capabilities, and strengthen financial stability, the Company and its subsidiaries plan to conduct foreign exchange hedging business with a limit not exceeding $150 million (including the principal) or equivalent in RMB and other foreign currencies.
  2. The types of foreign exchange hedging transactions to be conducted by the Company and its subsidiaries include but are not limited to forward foreign exchange contracts, currency swaps, foreign exchange swaps, foreign exchange futures, foreign exchange options, interest rate swaps, interest rate swaps, interest rate options, and other financial derivatives or combinations thereof.
  3. The foreign exchange hedging business will adhere to prudent principles and will not engage in speculative foreign exchange trading; however, certain risks remain, and investors are advised to be aware of investment risks.

Zhejiang Taotao Vehicle Co., Ltd. held the 13th meeting of the 4th Board of Directors on March 30, 2026, where it reviewed and approved the proposal on conducting foreign exchange hedging business and the feasibility analysis report. The Board agreed that the Company and its subsidiaries could conduct foreign exchange hedging business with a limit not exceeding $150 million (including the principal) or equivalent in RMB and other foreign currencies based on asset scale and business needs. This limit is valid for 12 months from the date of the Board's approval. Within the above limit and time frame, funds can be recycled, and the Chairman or their authorized person is authorized to implement the relevant matters of the foreign exchange hedging business within the limit. The limit approved at the 6th meeting of the 4th Board of Directors will automatically terminate upon the effectiveness of this approval.

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