Summary by Moomoo AI
Zhuzhou Zhongshan Electric Co., Ltd. (Times Electric) held a meeting of the Board of Directors and Supervisory Board on March 28, 2024 to consider the adoption of a resolution on the expected quota for foreign exchange derivatives trading for 2024. THE COMPANY AND ITS SUBSIDIARIES PLAN TO ENTER INTO FOREIGN EXCHANGE DERIVATIVES TRANSACTIONS IN 2024 TO NOT EXCEED RMB 25 BILLION OR FOREIGN CURRENCY EQUIVALENT AND WILL BE EFFECTIVE WITHIN 12 MONTHS WITH A MAXIMUM CONTRACT VALUE OF NOT EXCEEDING RMB 25 BILLION OR EQUIVALENT FOREIGN CURRENCY DURING THE PERIOD. The company stated that this move was designed to avoid and prevent exchange rate risks and not to engage in speculative trading. The funds are from own funds and do not use raising funds or bank credit...Show More