A-Share Margin Balance Falls to RMB 2.5845 Trillion; Electronics, Telecom Net Repayments Top RMB 55 Billion
During the week of July 24-30, the A-share margin financing balance fell to RMB 2.5845 trillion, with total net repayments of RMB 107.693 billion. Electronics and telecommunications led the repayments at RMB 29.775 billion and RMB 25.631 billion. ChangXin Technology attracted the largest net margin buying of RMB 13.612 billion, and, based on first-quarter revenue, its global DRAM market share reached 8%, making it the world's fourth-largest DRAM maker.
During the week of July 24-30, the A-share margin financing balance continued to fall, reaching RMB 2.5845 trillion, with total net repayments of RMB 107.693 billion over the period.
By sector, electronics saw net margin repayments of RMB 29.775 billion and telecommunications RMB 25.631 billion. Power equipment, computer, pharmaceutical and biological, and machinery equipment industries each recorded net margin repayments above RMB 5 billion. By contrast, the building materials industry received net margin buying of RMB 493 million.
ChangXin Technology ranked first in net margin buying with RMB 13.612 billion, followed by China Jushi (RMB 533 million), Yongding Co. (RMB 336 million) and Guoji Fucai (RMB 325 million). Based on first-quarter revenue, the company's global market share rose to 8%, making it the world's fourth-largest DRAM manufacturer.
China Jushi and Guoji Fucai are both electronic-cloth concept stocks. Electronic cloth, a key reinforcing material for copper-clad laminates and PCBs, has seen prices continue to rise in recent years. The mainstream market price for G75 electronic yarn is currently RMB 16,800-17,500 per tonne, and 7628 electronic cloth trades at RMB 8.5-8.7 per metre, with industry-wide inventories at extremely low historical levels.
In addition, bank stocks including ICBC, Agricultural Bank of China, Bank of China and SPD Bank, as well as chemical pharmaceutical stocks such as Kelun Pharmaceutical and Harbin Pharmaceutical, all recorded net margin buying.
On the repayment side, 43 stocks saw net margin repayments exceeding RMB 500 million. Among them, Zhongji Innolight's net repayment reached RMB 8.666 billion and Eoptolink's RMB 8.404 billion. Victory Giant Technology and Dongshan Precision recorded RMB 2.861 billion and RMB 2.287 billion, respectively. Optical module concept stocks, including Zhongji Innolight, Eoptolink, Tianfu Communication, HGTech, Victory Giant Technology and Dongshan Precision, all saw net margin repayments.
Memory concept stocks also continued to see net margin repayments, including Cambricon, GigaDevice, Demingli, Biwin Storage and Montage Technology. On July 27, ChangXin Technology officially listed on the STAR Market.