Zhong Guo Zheng Quan Bao·2025-08-12 04:59Core Points - As of August 11, the financing balance of A-shares increased by 16.841 billion, reaching 20.122 trillion, marking a ten-year high [1][3] - The financing balance has increased by 158.055 billion since the beginning of the year, with the pharmaceutical and biological industry seeing an increase of over 24 billion [1][15] - The current financing balance is still relatively low compared to the total market capitalization, indicating potential for improvement in market sentiment if policy measures are strengthened [1][3] Financing Balance Overview - The A-share financing balance has shown a significant increase since 2015, with a peak of 22.66635 trillion on June 18, 2015, followed by a decline and a recent recovery to over 20 trillion [3][4] - The two-margin trading activity has been active, with the trading volume exceeding 10% of the total A-share trading volume for several consecutive days in early August [6][7] Industry Analysis - As of August 11, the top three industries by financing balance are electronics (232.787 billion), non-bank financials (163.378 billion), and computers (154.081 billion) [9][11] - The pharmaceutical and biological sector has seen a net increase in financing of 24.699 billion, indicating strong investor interest [14][15] Stock Performance - The top three stocks by financing balance are Oriental Fortune (23.574 billion), China Ping An (22.171 billion), and Kweichow Moutai (16.613 billion) [12][13] - The stocks with the highest net buying amounts this year include BYD (5.893 billion), Shenghong Technology (4.769 billion), and New Yisheng (4.421 billion) [18][19]