Summary by Moomoo AI
GOLDWIND TECHNOLOGY ANNOUNCED ON 28 MARCH 2024 THAT THE 21ST MEETING OF ITS 8TH BOARD OF DIRECTORS AND THE 9TH MEETING OF THE 8TH BOARD OF SUPERVISORS HAD APPROVED THE ADOPTION OF A PROPOSAL TO START A COLLATERALIZED VALUE BUSINESS. This is intended to avoid adverse effects on the company's production operations and cost control due to exchange rate and interest rate fluctuations. The Company and its wholly-owned, controlling subsidiaries plan to conduct exchange rate hedges of up to US$20 billion and interest rate covenants of up to US$5 billion during the 2023 General Meeting to the 2024 General Meeting. The business will use the company's own funds and does not involve raising funds or bank credit. Gold Wind Technologies said that the hedged value trading will be conducted based on actual business needs, without speculation and margin trading, in order to strengthen the company's ability to respond to exchange rate and interest rate volatility risks and reasonably reduce financial costs.