Orient Yuhong to cap FX hedging at CNY2.5bn for stability

Beijing Orient Yuhong Waterproof Technology Co., Ltd. (SZSE: 002271) is setting a limit of ¥2.5 billion (approximately $348 million USD) for foreign exchange (FX) hedging activities, as per a recent announcement. This strategic move, approved by the board and pending shareholder approval, aims to mitigate the impact of foreign exchange rate fluctuations on the company’s growing international operations. This initiative is coupled with a report clearing the company of related party non-business-related funds misappropriation for 2024.