[Shenzhen business daily / read Chuang Xun] (reporter Chen Yanqing) since this year, the scale of the two financial institutions has continued to increase. As of the 25th, the balance of margin trading and securities lending in the two cities totaled 1.577 trillion yuan, up more than 50% from the end of last year, according to wind data. Among them, the balance of financing was 1.46 trillion yuan, while the balance of securities lending was 116.29 billion yuan. The proportion of securities lending balance in the two financing balances was 7.4%, which was significantly higher than that of 1% in previous years.
According to statistics, the current financing balance has increased by 454.9 billion yuan compared with the end of last year, a big increase of about 45%; while the balance of securities lending was only 13.78 billion yuan at the end of last year, but now it has reached 116.29 billion yuan, that is to say, in less than 11 months, the margin loan balance has soared by 7.43 times!
No securities for financing is one of the difficult problems in the A-share financing market in recent years. Since the beginning of this year, the abundant supply of securities lending is the main reason for the rapid growth of securities lending scale.
According to the reporters analysis, the current increase in securities sources mainly comes from three aspects: first, the enthusiasm of public offering and private placement participating in refinancing securities lending has increased significantly; second, shareholders of listed companies have significantly increased their participation in refinancing securities lending; third, QFII and social security have begun to participate in refinancing lending business.
QFII and social security have also participated in the refinancing business. November 2 is the first trading day for QFII to participate in refinancing securities lending business. On the same day, CITIC Securities, CICC, Guoxin Securities, Guotai Junan, UBS Securities and other securities companies said that they had completed the first transaction of QFII refinancing securities.
In addition to institutions, shareholders of listed companies also provide a large number of securities sources. This year, more than 10 listed companies, including Hengshun vinegar, Hongda blasting, jinhuijiu, Guilin Sanjin and Hualu Hengsheng, have announced that shareholders participate in the refinancing securities lending business.
On September 9, the shareholders of RONGTONG Securities Co., Ltd. announced its participation in securities lending. According to the announcement, as of the end of September, Guangye group, the controlling shareholder, had lent 3.5 million shares to SGC through the exchange platform, accounting for 0.5% of the companys total share capital.
On October 28, the company again disclosed the progress announcement of controlling shareholders participation in refinancing securities lending business. According to the announcement, Guangye Group intends to continue to use its shares to carry out refinancing in the next three months.
At present, the maximum amount of securities lent by shareholders of listed companies has not exceeded 3% of the total share capital of the company.
As for the participation of shareholders of Listed Companies in securities refinancing, economist song Qinghui analyzes that shareholders of listed companies can take advantage of this to revitalize their shares and obtain certain interest income without affecting their controlling position. Of course, this also in disguised form increases the opportunities for investors to sell short through short selling, which does not rule out a certain impact on the stock price trend.
Securities lending business refers to the institutions holding stocks and shareholders of listed companies who can lend their stocks to investors through securities companies to sell them. After the introduction of securities lending business, the scale of securities lending business has been expanded, which enables securities companies to borrow securities from funds, social security funds and other institutional investors through the platform of China Securities Fund, and then provide securities to short selling customers.
Source: Ren Hui, editor in charge of Shenzhen Commercial Daily_ NBJ9607