Yidian Tianxia planea realizar una operación de cobertura de divisas por 2.5 mil millones de yuanes para hacer frente al riesgo de volatilidad del tipo de cambio

【Shenzhen News】Yidian Tianxia Network Technology Co., Ltd. (code: 301171, stock abbreviation: Yidian Tianxia) issued an announcement on March 24 stating that, in order to effectively hedge against foreign exchange market risks, the company and its subsidiaries plan to use their own funds with a total amount not exceeding RMB 2.5 billion or other equivalent foreign currencies to carry out foreign exchange hedging and preservation businesses. The upper limit of the transaction margin and option premium to be utilized is expected not to exceed RMB 110 million or other equivalent foreign currencies.

The announcement shows that the main currencies involved in this foreign exchange hedging and preservation business are the settlement currencies used in the company’s overseas business, mainly the U.S. dollar. The specific business methods include forward settlement and sale of foreign exchange, foreign exchange swaps, foreign exchange buying and selling, foreign exchange options, interest rate swaps, interest rate forwards, interest rate options, and combinations of the above products.

The authorization period for this foreign exchange hedging and preservation business is within 12 months from the date on which the company’s 2025 annual general meeting of shareholders approves it. The额度 can be used in a rolling cycle within the authorization period, but the total highest contract value held at any point in time shall not exceed RMB 2.5 billion or other equivalent currencies. The company emphasized that the funds for carrying out this business come from its own funds and do not involve the use of raised funds or bank credit funds.

Key Business Information Overview

The company stated that, with the continuous development of its overseas business, the impact of exchange rate fluctuations on the company’s operating performance has become increasingly significant. Carrying out foreign exchange hedging and preservation business aims to effectively hedge against foreign exchange market risks, prevent unfavorable effects on the company caused by significant exchange rate fluctuations, improve the efficiency of foreign exchange capital utilization, and enhance financial soundness.

In terms of risk control, the company has formulated the《Foreign Exchange Hedging and Preservation Business Management System》, which makes clear provisions regarding standardized business operations, approval authority, internal procedures, and so on. The financial shared service center will uniformly manage the foreign exchange hedging and preservation business to ensure that all transactions are carried out on the basis of normal production and business operations, and that speculative and arbitrage transactions are not allowed. The internal audit department will regularly review the actual operations of the business and report to the board of directors’ audit committee.

The announcement also reminds that foreign exchange hedging and preservation business involves market risk, exchange rate fluctuation risk, internal control risk, and credit risk. In the event that the trend of exchange rates deviates significantly from the company’s judgment, it may lead to costs after locking the exchange rate exceeding costs without locking, thereby resulting in losses.

This proposal has been approved at the company’s fifth session of the board of directors’ ninth meeting and the audit committee. It still needs to be submitted for approval at the company’s 2025 annual general meeting of shareholders. The company’s audit committee believes that carrying out foreign exchange hedging and preservation business is beneficial for hedging and preventing exchange rate fluctuation risks. The decision-making procedure complies with relevant laws and regulations and the provisions of the《Company Articles of Association》. There is no situation that harms the company and all shareholders, especially the interests of small and medium shareholders.

Pursuant to the relevant provisions of the《Enterprise Accounting Standards》, the company will conduct corresponding accounting treatment for the foreign exchange hedging and preservation business it carries out. The related results will be reflected in relevant items in the balance sheet and the profit and loss statement.

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