A-Share Margin Financing Hits RMB 2.64 Trillion; 73 Stocks Exceed 10% of Float
As of September 1, 2026, margin financing on China's A-share market stood at RMB 2.636915 trillion, equivalent to 2.62% of total float market value. Among stocks eligible for margin trading, 73 had margin balances exceeding 10% of their float value. Fujian Cement led with 18.13%, followed by Xinkai Technology at 17.14% and Kaiweite at 15.67%. The average float value of these high-ratio stocks was RMB 5.758 billion.
As of September 1, 2026, the market's margin financing balance reached RMB 2.636915 trillion, representing 2.62% of the total float market value of A-shares. Among stocks eligible for margin trading, 73 had margin balances exceeding 10% of their float market value; 1,162 stocks had ratios between 5% and 10%; 2,326 stocks had ratios between 1% and 5%; and 299 stocks had ratios of 1% or less.
Fujian Cement had the highest ratio, with a margin balance of RMB 405 million, accounting for 18.13% of its float market value of RMB 2.236 billion. It was followed by Xinkai Technology at 17.14% and Kaiweite at 15.67%.
In terms of float market value, the average for stocks with margin ratios above 10% was RMB 5.758 billion, while the top ten by ratio averaged RMB 5.123 billion. Stocks such as Hewang Electric, Tianma Technology, Jialichuang, and Suzhou Tianmai also had ratios exceeding 14%. On valuation, 31 of these stocks had dynamic price-to-earnings ratios above 50 times, 7 between 30 and 50 times, and 14 below 30 times. The lowest was Dongfang Jinggong at 2.39 times, with Taishan Petroleum and Zhenjiang Shares also below 20 times.
By board, among the 73 stocks, 28 were on the ChiNext, 17 on the STAR Market, and 28 on the main board. By industry, they were concentrated in machinery and equipment (15), electronics (11), and power equipment (10), with others in basic chemicals, pharmaceuticals and biotechnology, automobiles, computers, and telecommunications. Under trading rules, when a stock's margin monitoring indicator reaches 25%, the exchange may suspend margin buying on the next trading day and announce this to the market.