Huibo: Plans to use no more than $120 million to conduct foreign exchange hedging business.

Huibo Technology announced that in order to avoid risks in the foreign exchange market and reduce exchange losses, the company intends to use no more than $120 million of its own funds to conduct foreign exchange hedging operations, with single transactions not exceeding $30 million. It is expected that the margin and premiums used will not exceed $5 million. The trading products include forward exchange contracts, and the trading counterparties will be qualified financial institutions. The authorization is valid for 12 months from the date of approval by the board of directors on August 13. This business carries risks such as exchange rate fluctuations, and the company has developed risk control measures.