遠大控股(000626.SZ):子公司2021年度繼續開展衍生品投資業務
格隆匯 12 月 10日丨遠大控股(000626.SZ)公佈,公司子公司2021年度衍生品投資業務的保證金投資金額在任何時點不超過15億元,合約金額在任何時點不超過150億元,上述額度可循環使用。
公司是以大宗商品貿易為主營的企業,經營主體為遠大物產集團有限公司等子公司及其下屬公司(以下簡稱:公司子公司)。中國經濟實施供給側改革以來,大宗商品的供應與需求格局發生較大的變化,市場波動劇烈,貿易商依靠上下游供應鏈信息不對稱、時間及空間差異、供應商資源和客户渠道來賺取購銷價差的粗放經營時代已經終結。目前,各種大宗商品衍生品紛紛在期貨交易平台、遠期現貨電子交易平台出現,期貨作為現貨價格發現工具的功能得到了充分的發揮,公司子公司得以通過使用金融衍生品工具進行大宗商品供應鏈管理。
公司子公司主要經營黑色、有色金屬、能源化工類、天然橡膠、農產品等大宗商品,該類商品受市場供求、地緣政治、氣候季節、利匯率變動等多種因素作用,價格波動頻繁。貿易商作為上下游出貨和進貨的渠道,在供應鏈上的角色經常發生變化,在價格波動過程中會面臨船期變化、上下游供需平衡等影響,不可避免的存在現貨購銷敞口風險。因此,公司子公司有必要通過研判相關大宗商品的市場行情,利用期貨、期權等衍生金融工具,管理現貨購銷裸露頭寸,同時抓住期、現貨兩個市場價格波動獲取利潤。
公司子公司經營的部分商品涉及進出口業務,外匯市場受國際政治、經濟等不確定因素影響波動頻繁,為防範匯率大幅波動對經營業績帶來的不良影響,公司子公司有必要基於外匯資產、負債及外匯收支業務情況,運用金融衍生工具做好利匯率管理。
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