Summary by Moomoo AI
Huaneng Power held a board of directors meeting on October 29, 2024, and approved a proposal regarding the operation of financial derivatives business in 2025. The proposal allows its wholly-owned subsidiary, Singapore Dash Energy Limited, and its subsidiaries to carry out fuel swaps, forex forwards, and interest rate swaps in 2025 to hedge against fluctuations in fuel prices, exchange rates, and interest rates. The transaction limits are not to exceed 2.7 billion USD for fuel swaps, 3.2 billion USD for forex forwards, and 0.9 billion USD for interest rate swaps, with a validity period of one year from January 1, 2025, to December 31, 2025. Dash Energy will select reputable large banks as counterparties for the transactions and strictly adhere to internal control systems for risk management. The company stated that these trades will help stabilize operational performance without affecting normal cash flow and core business operations.