Announcements
19.Jul.2024
Announcement on behalf of subsidiary Solar Chemical(KunShan) Realized loss of individual derivative transaction exceeds the regulated ceiling.
1.Type of contract:Forward Contract
2.Date of occurrence of the event:2024/07/19
3.Contract price:RMB 13,416,103.94
4.Monetary value of margin or royalties paid:RMB 2,572,035.2
5.Ceiling on losses for aggregate or individual contracts set forth in the Procedures:
30% of the monetary value of the individual contract。
6.Reason for derivative transaction:Hedging.
7.Item(s) being hedged:Silver (raw material).
8.Monetary value of the hedged item(s):RMB 13,416,103.94
9.Profit (loss) of the hedged item(s):RMB 4,955,576.06 of loss。
10.The losses (including realized and unrealized losses) assessed using fair value:
Sum of realized loss RMB 4,955,576.06
11.Reason for occurrence of the losses and the impact to the Company:
The price of silver has since escalated after the transaction,
resulting in realized loss exceeding 30% of the individual contract value.
12.Contract period:2023/11/1~(AGTD Non-settlement time-limited regulation)
13.Restrictive covenants:None
14.Other important terms and conditions:None
15.Any other matters that need to be specified:
The 17 AGTD contracts with unrealized losses exceeding the limit are the
same as those has on July 12, 2024
2.Date of occurrence of the event:2024/07/19
3.Contract price:RMB 13,416,103.94
4.Monetary value of margin or royalties paid:RMB 2,572,035.2
5.Ceiling on losses for aggregate or individual contracts set forth in the Procedures:
30% of the monetary value of the individual contract。
6.Reason for derivative transaction:Hedging.
7.Item(s) being hedged:Silver (raw material).
8.Monetary value of the hedged item(s):RMB 13,416,103.94
9.Profit (loss) of the hedged item(s):RMB 4,955,576.06 of loss。
10.The losses (including realized and unrealized losses) assessed using fair value:
Sum of realized loss RMB 4,955,576.06
11.Reason for occurrence of the losses and the impact to the Company:
The price of silver has since escalated after the transaction,
resulting in realized loss exceeding 30% of the individual contract value.
12.Contract period:2023/11/1~(AGTD Non-settlement time-limited regulation)
13.Restrictive covenants:None
14.Other important terms and conditions:None
15.Any other matters that need to be specified:
The 17 AGTD contracts with unrealized losses exceeding the limit are the
same as those has on July 12, 2024
