Jiangte Motor: Carbonate lithium, soda ash, copper futures and derivatives business floating loss exceeds tens of millions.

The latest announcement from Jiangte Motors regarding the development of commodity futures and derivatives business shows that, according to the company's preliminary calculations, the confirmed profits and losses and floating losses from commodity futures and derivatives transactions have reached 10% of the company's consolidated net profit audited in the past year, and the absolute amount exceeds 10 million yuan. The trading varieties include lithium carbonate, soda ash, and copper. The company stated that the main reason for the formation of losses was to avoid the operational risks caused by product price fluctuations and to reduce the impact of cost fluctuations caused by raw material price fluctuations on production and operation. The company and its subsidiaries have conducted commodity futures and derivatives business in accordance with their production and operation plans in order to reduce the impact of market price fluctuations of raw materials, products, and other commodities on the production and operation costs of the company and the prices of its main products. However, the recent continuous rise in the price of lithium carbonate futures has led to losses in the company's futures account.