HX BLDG MAT (06655.HK): FX hedging capped at RMB 7.875 billion
- The purpose is hedging rather than investment return, running for 12 months from board approval and funded by own funds and borrowings.
- Margin and premium are capped at RMB 1,181.25 million while the maximum daily contract value is RMB 7,875 million, two separate measures.
NewTimeSpace News: On 8 November 2026, Huaxin Building Materials Group Co., Ltd. (Stock Code: 06655) published an overseas regulatory announcement under Rule 13.10B setting out its A-share announcement on FX derivatives trading. It will hedge FX exposure with forwards, swaps, options and combinations, with margin and premium capped at RMB 1,181.25 million and maximum daily contract value at RMB 7,875 million, funded by own funds and borrowings within 12 months of board approval.
The announcement shows the hedging supports its proposed acquisition of CSN Cimentos Brasil S.A. from Brazil's CSN at an agreed enterprise value of BRL 12.7 billion. As consideration is payable in reais, the company will lock in rates for up to BRL 6.3 billion, about 50% of enterprise value, for no more than one year. The board approved the plan, which needs no shareholder approval and is not a connected transaction. It flagged market, liquidity, counterparty and operational risks and said it does not speculate.
- HX BLDG MAT (06655.HK) enters exclusivity pact to acquire CSN cement assets in Brazil, valued at BRL12.7bn
- HX BLDG MAT (06655.HK): First Lock-up Expiry Unlocks 868,733 Shares
- HX BLDG MAT (06655.HK): Substantial Shareholder Huaxin Group Plans to Increase A-Share Holdings by RMB 340 Million to RMB 680 Million
