Announcements
11.Oct.2024
Announcement on behalf of subsidiary Solar Chemical(KunShan) Unrealized loss of individual derivative transaction exceeds the regulated ceiling.
1.Type of contract:Forward Contrace
2.Date of occurrence of the event:2024/10/11
3.Contract price:RMB 14,589,287.74
4.Monetary value of margin or royalties paid:RMB 2,574,000.96
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:Gold (raw material)、Silver (raw material).
8.Monetary value of the hedged item(s):RMB 14,589,287.74
9.Profit (loss) of the hedged item(s):RMB 4,438,518.26 of loss。
10.The losses (including realized and unrealized losses)
assessed using fair value:Sum of unrealized loss RMB 4,438,518.26
11.Reason for occurrence of the losses and the impact to the Company:
The price of gold has since escalated after the transaction,
resulting in realized loss exceeding 30% of the individual contract
value.
12.Contract period:
2023/10/11~(AUTD Non-settlement time-limited regulation)
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:None
2.Date of occurrence of the event:2024/10/11
3.Contract price:RMB 14,589,287.74
4.Monetary value of margin or royalties paid:RMB 2,574,000.96
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:Gold (raw material)、Silver (raw material).
8.Monetary value of the hedged item(s):RMB 14,589,287.74
9.Profit (loss) of the hedged item(s):RMB 4,438,518.26 of loss。
10.The losses (including realized and unrealized losses)
assessed using fair value:Sum of unrealized loss RMB 4,438,518.26
11.Reason for occurrence of the losses and the impact to the Company:
The price of gold has since escalated after the transaction,
resulting in realized loss exceeding 30% of the individual contract
value.
12.Contract period:
2023/10/11~(AUTD Non-settlement time-limited regulation)
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:None
