Yueyang Xingchang Petrochemical to hedge, revise bylaws, forecast transactions

Yueyang Xingchang Petrochemical plans to engage in commodity futures hedging for platinum and palladium, aiming to mitigate price volatility risks affecting its catalyst production costs and profitability. A maximum of CNY 10 million will be allocated for trading margins, with a peak contract value of CNY 100 million on any given trading day, using proprietary funds. The board has approved this initiative and its management framework, which includes risk control measures and a 12-month trading period for single transactions.

Simultaneously, the board also approved amendments to the company's articles of association, including changes to the roles of general manager and deputy general manager, the removal of the supervisory board’s functions, and new provisions for independent directors and board committees. These revisions streamline governance and align with current regulatory requirements.

In addition to these updates, the company forecasts its 2026 related-party transactions. These transactions, primarily involving raw material procurement and product sales with its largest shareholder and related entities, are estimated at CNY 495,052 million, with other transactions with Xingchang Group and its subsidiaries and Dongyue Chemical amounting to CNY 7,789 million and CNY 50,443 million, respectively.