RMB Devaluation Effect Shows That Listed Companies Are Happy And Worried.

Since the beginning of this year, the depreciation of the RMB exchange rate has affected the enterprises with more import and export business, which is evident from the publicly disclosed information about the operation of listed companies. P

According to the first quarter earnings forecast, the Great Wall development, rabbit babies, and other companies have been significantly affected by the first quarter losses, but Star Technology and other companies benefited from the depreciation of the renminbi.

In order to deal with the exchange rate changes, listed companies have taken measures to lock in exchange rate risk with the help of long-term derivatives such as banks.

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< p > < strong > < a > href= > //www.sjfzxm.com/news/index_c.asp > > listed company < /a > have sorrow and happiness < /strong > /p >

< p > the Great Wall development announced 15 days of performance forecast, it is expected to lose 110 million to 120 million yuan in the first quarter, compared with 32 million 530 thousand yuan in the first quarter of last year.

The company said that during the reporting period, due to the depreciation of the renminbi, the fair value of the financial derivatives that the company did not expire at the end of the year was significantly lower than the end of last year, resulting in a larger amount of loss of fair value change.

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< p > rabbit baby recently announced that it is expected to lose 1 million 300 thousand yuan to 1 million 700 thousand yuan in the first quarter.

The company said that since the first quarter, the "a href=" //www.sjfzxm.com/news/index_c.asp "/a" and the US dollar exchange rate have changed unilaterally, and the floating exchange rate has also expanded from 1% to 2%, which has a great impact on the long-term foreign exchange settlement business signed by the company.

According to the latest forward exchange rate settlement in March 27th, the company has signed a forward exchange contract which has not yet been delivered, and has lost 2 million 550 thousand yuan in exchange.

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< p > > recently, it announced a loss of 2 million 22 thousand and 400 yuan to 3 million 33 thousand and 600 yuan in the first quarter.

The company said that in order to avoid exchange rate risk, the company signed a long-term foreign exchange settlement agreement with the bank. However, the RMB was abnormal in the near future, < a href= "//www.sjfzxm.com/news/index_c.asp" > depreciation > /a > faster. The fair value change of the trading financial assets formed by the forward contracts at the spot exchange rate and the signing exchange rate will produce a fair value change loss.

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< p > on the other hand, some listed companies benefit from the depreciation of the renminbi.

Superstar technology released performance forecast that the first quarter benefited from the continued decline of the RMB exchange rate, resulting in a decrease in the company's profit and loss, and expected net profit of 88 million 417 thousand and 300 yuan to 107 million 31 thousand and 400 yuan in the first quarter.

Jiuding new material in the 2013 performance bulletin said that last year net profit of 11 million 418 thousand and 200 yuan, a year-on-year decrease of 42.56%, continued appreciation of the renminbi is one of the reasons for the decline in performance.

In response to the impact of this year's devaluation on the company, the company said in response to investor questions, the impact of the RMB exchange rate change on the company's performance is multidirectional, and the company is actively evaluating it.

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< p > < strong > with derivatives, the risk should be less than /strong > /p >

< p > UBS Securities Research Report points out that the depreciation of the RMB will affect the listed companies in the two aspects of the balance sheet and the profit and loss account.

From the balance sheet, the negative impact of the aviation industry and the land industry is the most significant; from the profit and loss statement, the companies that are expected to benefit from the export products or services are household appliances, buses, auto parts, electronics, textile and clothing, oil clothing enterprises and construction companies, which may be damaged by companies including imported products (copper, iron ore, aircraft oil, pulp, soya, etc.).

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< p > in order to deal with the impact of exchange rate changes, many listed companies are acting.

The Great Wall development intends to continue to carry forward DF, non deliverable forward foreign exchange (NDF) and interest rate swap and other derivatives business, all for hedging purposes.

The main business revenue of Jiuding new material is about 60%, which is exported.

The company intends to carry out the US dollar forward settlement business with the Construction Bank and the Agricultural Bank of China.

Export business accounted for about 60%-70%, mainly using foreign currency settlement, such as US dollar and euro.

The company will carry out forward selling and foreign exchange business and overseas NDF (non deliverable forward foreign exchange) business in the bank.

Sinoma International overseas business accounts for a large proportion of sales revenue. The company intends to continue to use bank hedging tools to lock in exchange rate risk. This year, the total amount of foreign exchange hedging paction is not more than 4 billion 227 million yuan RMB.

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