Jianghuai Power (000816) announced today, the company's board of directors agreed to wholly owned subsidiary of Jiangsu Jiang Moving Group import and Export Co., Ltd. 2010 to carry out the total amount of not more than 35 million U.S. dollars, Wholly-owned subsidiaries on Heibe International Trading Co., Ltd. 2010 to carry out the total amount of not more than 20 million U.S. dollars in the forward-sale business for hedging. Jianghuai Power said, import and export company, the company's main export trade, the main use of U.S. dollar settlement. In view of the recent fluctuations in the US dollar against the renminbi, exchange gains and losses will affect the company's operating performance, in order to reduce the impact of exchange rate fluctuations on the company's profits, the two companies need to carry out forward foreign exchange transactions.
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