---
title: "YUEXIU PROPERTY signs a foreign exchange forward contract to purchase USD 60 million with RMB"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/290491237.md"
description: "YUEXIU PROPERTY announced that it has entered into a foreign exchange forward contract with its controlling shareholder, Yuexiu Enterprises, to purchase USD 60 million with Renminbi. The contract exchange rate is 1 USD to 6.0287 Renminbi, with a settlement date of January 20, 2031. This move aims to hedge against foreign exchange risks arising from its main business and income and expenses denominated in Renminbi, and to reduce hedging costs"
datetime: "2026-06-23T00:31:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/290491237.md)
  - [en](https://longbridge.com/en/news/290491237.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/290491237.md)
---

# YUEXIU PROPERTY signs a foreign exchange forward contract to purchase USD 60 million with RMB

According to a report from the Economic Information Agency on the 23rd, YUEXIU PROPERTY (00123) announced that yesterday, it entered into a foreign exchange forward contract with its controlling shareholder, Yuexiu Enterprises, to purchase USD 60 million at an amount in Renminbi.

The group stated that the forward exchange rate is 6.0287 Renminbi per 1 US dollar, with the settlement currency being US dollars and the settlement date set for January 20, 2031. The group's main business is located in China, and its income and expenses are primarily denominated in Renminbi, which is considered its functional currency. Therefore, any transactions denominated in currencies other than Renminbi or requiring settlement in currencies other than Renminbi may expose the group to foreign exchange risks. Entering into the foreign exchange forward contract will reduce the group's hedging costs. (wh)

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