Qiangbang New Materials announced that the 8th audit committee meeting of the 2nd board of directors of the company and the 9th meeting of the second board of directors deliberated and passed the bill, agreeing that the company and its holding subsidiaries will carry out forward foreign exchange settlement business for the purpose of hedging. The total amount of the transaction is estimated at US$30 million. The period is valid for 12 months from the date of review and approval by the board of directors, and the funding source is own funds. Although the business can avoid exchange rate risks, there are risks such as internal control, operation, and exchange rate fluctuations, and the company has formulated relevant risk control measures. The sponsoring agency believes that the matter has carried out the necessary approval procedures, and that related risks can be effectively controlled.

Qiangbang New Materials announced that the 8th audit committee meeting of the 2nd board of directors of the company and the 9th meeting of the second board of directors deliberated and passed the bill, agreeing that the company and its holding subsidiaries will carry out forward foreign exchange settlement business for the purpose of hedging. The total amount of the transaction is estimated at US$30 million. The period is valid for 12 months from the date of review and approval by the board of directors, and the funding source is own funds. Although the business can avoid exchange rate risks, there are risks such as internal control, operation, and exchange rate fluctuations, and the company has formulated relevant risk control measures. The sponsoring agency believes that the matter has carried out the necessary approval procedures, and that related risks can be effectively controlled.