Metallurgical Corporation of China to hedge $4.1bn in FX
Metallurgical Corporation of China (SSE:601618) announced plans to engage in foreign exchange hedging activities for 2025 with a total value not exceeding USD 4.1 billion, effective for 12 months from board approval. The move is intended to stabilize financial performance amidst global economic uncertainties and the company's increasing international operations, particularly along the "Belt and Road" countries. The company emphasizes a commitment to hedging rather than speculation, utilizing instruments like forward contracts and currency options with reputable financial institutions. This initiative aligns with Metallurgical Corporation of China's strategic goal to become a world-class enterprise, bolstering its competitiveness. The Board of Directors approved the plan, deeming it prudent for managing exchange rate fluctuations without needing shareholder approval. A review of the Q1 results for 2025 reveals a drop of 40% in net profit attributable to shareholders and a related decrease in revenue by 18.46%.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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