Sieyuan Electric: Company's Overseas Business Settlements Primarily Involve USD, EUR, GBP, and Other Currencies

Deep News01-21

During an investor inquiry session, Sieyuan Electric Co., Ltd. disclosed that the foreign currencies used for settling its overseas business primarily include the US dollar, the euro, the British pound, and several others. To mitigate the risks associated with exchange rate fluctuations, the company engages in foreign exchange hedging transactions. This business is fundamentally based on normal production and operational activities, with the objective of locking in project costs and minimizing exchange rate risks, and it strictly avoids any foreign exchange trading purely for speculative purposes. As the company's overseas operations continue to expand in the future, fluctuations in exchange rates are expected to exert a certain degree of influence on its operational performance.

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