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currently, only one stock is still subject to refinancing.

data released by csi financial showed that as of friday, macalline was the only company in the market that still had securities refinancing. the remaining stock refinancing balance is 64,900 shares, with a balance of 200,500 yuan. the balance of securities refinancing across the market is close to zero. as of this thursday, there were still 226 stocks with refinancing balances.

in july this year, the china securities regulatory commission approved csi financial’s application to suspend the securities refinancing business in accordance with the law. the existing securities refinancing contract can be extended, but it must be settled no later than september 30. on july 10, the balance of securities refinancing was 30 billion yuan. there is currently only one trading day left until september 30th.

there is only about 200,000 yuan left in the market

the latest data from csi financial shows that on september 27, only one stock in the market still had securities refinancing. the stock is macalline, and the balance of refinancing securities is 200,500 yuan.

compared with september 26, the scale of refinancing has dropped rapidly. on september 26, there were still 226 stocks that were subject to refinancing, with a balance of 19.5576 million shares and a balance of 237 million yuan. the balance of securities refinancing on september 25 was 475 million yuan.

in recent times, the balance of securities refinancing has continued to decrease: on august 13, the balance of securities refinancing was still 10.163 billion yuan. by september 10, the balance of securities refinancing had dropped to 1.57 billion yuan.

must be cleared on september 30th

the clearing of the balance of refinancing securities is related to the adjustment of policies.

on july 10 this year, the china securities regulatory commission stated that in order to effectively respond to investor concerns and maintain the stable operation of the market, after fully evaluating the current market situation, the china securities regulatory commission approved the application of china securities financial company to suspend its securities refinancing business in accordance with the law. effective from the 11th. existing securities refinancing contracts can be extended, but must be closed no later than september 30.

the china securities regulatory commission stated that margin trading is one of the important basic systems of the capital market and plays a positive role in calming irrational fluctuations, promoting long-short balance and price discovery, and attracting medium and long-term funds to enter the market. based on the actual needs of the development of the domestic securities market and centralized supervision, my country established a refinancing system around 2013. on the one hand, it provides necessary sources of funds and securities for the margin trading and securities lending business; on the other hand, it also allows the regulatory authorities to understand the status of the business. it provides the means to strengthen daily supervision and take timely counter-cyclical adjustment measures.

since august 2023, based on market conditions and investor concerns, the china securities regulatory commission has taken a series of measures to strengthen the supervision of securities lending and refinancing businesses, including restricting strategic investors from placing shares and lending, increasing the margin ratio for securities lending, and reducing refinancing. securities marketization stipulates the efficiency of reporting securities transfers, suspends the scale of new securities lending, etc.; simultaneously requires securities companies to strengthen the management of customer trading behaviors, and continue to increase the supervision and enforcement of illegal activities such as improper arbitrage using securities lending transactions. . as of the end of june 2024, the scale of securities lending and refinancing has dropped by 64% and 75% cumulatively. the scale of securities lending accounts for about 0.05% of the circulating market value of a-shares, and the proportion of daily securities lending sales in a-share trading volume has dropped from 0.7% to 0.2%. the impact on the market has been significantly weakened, creating conditions for the suspension of securities refinancing business. . this adjustment clarifies the legal extension and separation arrangements for existing businesses, which will help prevent business risks and maintain the stable and orderly operation of the market.