According to the latest data from the Hong Kong Stock Exchange, on October 27, JINXUN RESOURCE (ASX: 03636) experienced a position change, with a total warehouse position market value of HK$361 million, accounting for 149.90%. The company's shareholder deposited 14.2513 million shares with HSBC HOLDINGS (HSBC), reducing their shareholding ratio by 21.44%.
On October 20, JINXUN RESOURCE announced that in order to reduce risks brought by exchange rate fluctuations without affecting the company's normal production and operations, the company and its subsidiaries plan to engage in foreign exchange derivative businesses such as forward foreign exchange settlement and sales, and swaps to hedge against exchange rate fluctuation risks. The operational process involves the company and its subsidiaries signing forward foreign exchange settlement contracts with banks, agreeing on the currency, amount, exchange rate, and period for future foreign exchange settlement, and then handling the settlement business on the maturity date according to the contracted currency, amount, and exchange rate, thereby locking in the current foreign exchange settlement cost. The company and its subsidiaries are only permitted to conduct foreign exchange derivative businesses such as forward foreign exchange settlement and sales, and swaps with financial institutions approved by the People's Bank of China and the State Administration of Foreign Exchange that possess legitimate operating qualifications. The settlement currency for the business is US dollars or other currencies. The source of funds for this foreign exchange derivative business is the company's and its subsidiaries' own funds, without using any raised funds, and does not involve debt financing such as bank loans. The scale of forward foreign exchange settlement and sales and other businesses is expected not to exceed US$50 million. Based on the business conditions of the company and its subsidiaries, the maximum delivery period shall not exceed 12 months, and it shall be valid for 36 months from the date of approval.
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Jinxun Resource (03636) Sees 361 Million HKD Warehouse Position Value as Shareholder Deposits 14.25 Million Shares with HSBC
Stock News10-28 08:29
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