In late April 2022, the exchange rate of the US dollar against the RMB rose rapidly from 6.38 to 6.61, resulting in rapid RMB depreciation. Some investors asked Shandong Weifang Rainbow Chemical Co., Ltd (Weifang Rainbow) whether changes in exchange rate will affect the company’s sales performance.
Weifang Rainbow replied that more than 95% of the company’s main business is international business. With its international business practice over the past few years, the company has established a normal non-profit forward foreign exchange settlement and sales business mechanism for exchange rate fluctuations. According to the implementation effect in the past few years, changes in exchange rate have little impact on the company’s sales performance.
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