688020: verification opinions of Huatai United Securities Co., Ltd. on Guangzhou Fangbang Electronics Co.Ltd(688020) carrying out foreign exchange hedging business Huatai United Securities Co., Ltd. (hereinafter referred to as * Huatai United Securities, "sponsor ·) as the sponsor of Guangzhou Fangbang Electronics Co.Ltd(688020) (hereinafter referred to as * Guangzhou Fangbang Electronics Co.Ltd(688020) , · company) in the continuous supervision stage of initial public offering of shares and listing on the science and innovation board, according to The relevant provisions of relevant laws, regulations and normative documents such as the Listing Rules of Shanghai Stock Exchange on the science and innovation board and the measures for the continuous supervision of listed companies on the science and Innovation Board (for Trial Implementation) have carefully and prudently verified the foreign exchange hedging business of Guangzhou Fangbang Electronics Co.Ltd(688020) . The specific verification is as follows: 1 The necessity of carrying out hedging business the company's import and export business is mainly settled in foreign currencies such as US dollar and Japanese yen. Therefore, when the exchange rate fluctuates greatly, the exchange profit and loss will have a certain impact on the company's operating performance. In order to effectively avoid the risks in the foreign exchange market, prevent the adverse impact of large exchange rate fluctuations on the company's operating performance, improve the use efficiency of foreign exchange funds and reasonably reduce financial expenses, the company plans to carry out hedging business with banks and other financial institutions. The hedging business of the company is based on normal production and operation, with the purpose of avoiding and preventing exchange rate risk, and does not carry out speculation and arbitrage transactions solely for profit
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