Zhitong Finance App News, SMIC (00981) announced that in order to prevent foreign exchange rate and interest rate risks of the company and its wholly-owned or holding subsidiaries, further improve their ability to cope with the risk of foreign exchange rate and interest rate fluctuations, and enhance financial soundness, the company and its subsidiaries carry out hedging work related to foreign exchange and interest rates through financial derivatives.
The size of the hedging business plan of the company and its wholly-owned or holding subsidiaries shall not exceed 50% of the company's audited net assets in 2023. The credit limit or security deposit amount associated with the hedging business is determined according to the company's actual business needs. The sources of funds for the development of hedging business are own funds, debt financing, and funds raised by the company through other means permitted by laws and regulations.