MECOM POWER Subsidiary Enters into HKD 100 Million Forex Hedging Agreement

Stock News02-26 21:06

MECOM POWER (01183) has announced that on February 26, 2026, its non-wholly-owned subsidiary, MECOM New Materials, entered into a foreign exchange hedging contract with Bank of Communications Co., Ltd. Zhuhai Branch. The contract is intended to hedge currency risk between the Renminbi and the Hong Kong dollar, with a total principal amount of HKD 100 million.

The Group, operating through MECOM New Materials and MECOM Construction, is engaged in the development and sale of new construction materials, as well as the production and sale of smart machinery, in the ordinary course of business. As the Group procures steel in Renminbi but sells new construction materials in Hong Kong dollars, it periodically converts Hong Kong dollars into Renminbi to settle trade payables and cover operating expenses. This exposes the Group to foreign exchange risk. To address this, the Group has arranged for MECOM New Materials to enter into the foreign exchange hedging contract as a means of mitigating the related currency risk.

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