Announcements
08.Nov.2024
Announcement on behalf of subsidiary Solar Chemical(KunShan) Unrealized loss of individual derivative transaction exceeds the regulated ceiling.
1.Type of contract:Forward Contract
2.Date of occurrence of the event:2024/11/08
3.Contract price:RMB 5,367,652.42
4.Monetary value of margin or royalties paid:RMB 1,143,230.40
5.Ceiling on losses for aggregate or individual contracts
set forth in the Procedures:30% of the monetary value of the individual c
ontract。
6.Reason for derivative transaction:Hedging.
7.Item(s) being hedged:Silver (raw material).
8.Monetary value of the hedged item(s):RMB 5,367,652.42
9.Profit (loss) of the hedged item(s):RMB 1,777,537.58 of loss。
10.The losses (including realized and unrealized losses)
assessed using fair value:Sum of unrealized loss RMB 1,777,537.58
11.Reason for occurrence of the losses and the impact to the Company:
The price of gold/silver has since escalated after the transaction,
resulting in unrealized loss exceeding 30% of the individual contract
value.
12.Contract period:
2024/1/22~(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:
There is 1 AGTD contracts in total with unrealized losses
exceeding the limit and all of losses over the limit is repeated.
The first announcement date for reaching the ceiling on losses for individual
contract is listed below:
2024/7/12: 1 AGTD contracts
2.Date of occurrence of the event:2024/11/08
3.Contract price:RMB 5,367,652.42
4.Monetary value of margin or royalties paid:RMB 1,143,230.40
5.Ceiling on losses for aggregate or individual contracts
set forth in the Procedures:30% of the monetary value of the individual c
ontract。
6.Reason for derivative transaction:Hedging.
7.Item(s) being hedged:Silver (raw material).
8.Monetary value of the hedged item(s):RMB 5,367,652.42
9.Profit (loss) of the hedged item(s):RMB 1,777,537.58 of loss。
10.The losses (including realized and unrealized losses)
assessed using fair value:Sum of unrealized loss RMB 1,777,537.58
11.Reason for occurrence of the losses and the impact to the Company:
The price of gold/silver has since escalated after the transaction,
resulting in unrealized loss exceeding 30% of the individual contract
value.
12.Contract period:
2024/1/22~(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:
There is 1 AGTD contracts in total with unrealized losses
exceeding the limit and all of losses over the limit is repeated.
The first announcement date for reaching the ceiling on losses for individual
contract is listed below:
2024/7/12: 1 AGTD contracts
