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The first-quarter report for this year reveals that the profits of numerous listed companies have been significantly impacted by exchange rate fluctuations. Take Sany Heavy Industry as an example; it suffered exchange losses amounting to roughly 800 million yuan. Meanwhile, the net profit attributable to shareholders of Lexy Electrical plummeted by over 90% year-on-year. Exchange gains and losses have emerged as a pivotal factor influencing the profits of certain listed companies. The phenomenon of 'revenue growth without a corresponding increase in profits' underscores the deficiencies of operating entities in managing exchange rate risks. Experts emphasize that with the two-way fluctuation of the RMB exchange rate becoming the new normal, exchange rate risk management has become an indispensable capability for Chinese enterprises operating overseas.
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