CLS(SZ:002945) Xin Lang Cai Jing·2025-10-13 13:20Core Viewpoint - The rapid shift from expanding credit business limits to increasing margin requirements by Huayin Securities reflects the intense demand for financing in the current market [1][6][8]. Company Summary - Huayin Securities announced an adjustment to the margin requirement for financing securities on the Shanghai and Shenzhen stock exchanges to 100%, effective from October 13, 2025, to manage business development and risk [2][5]. - This adjustment comes just a month after the company raised its credit business total limit from 6.2 billion to 8 billion yuan, marking an 18 billion yuan increase within six months [5][6]. - The adjustment indicates a tightening of credit availability in response to high demand, as evidenced by the rapid increase in financing needs from clients [8][10]. Industry Summary - The overall two-margin business in the market has seen significant growth, with financing balances rising from 1.84 trillion yuan at the end of Q2 to 2.38 trillion yuan at the end of Q3, a quarterly increase of 29.34% [10][14]. - Other securities firms, such as Guojin Securities, have also adjusted their margin requirements, but most still maintain an 80% margin ratio, indicating that Huayin's move is not yet a widespread trend [5][7]. - The increase in new margin accounts reached 180,000 in August, a year-on-year surge of 381%, highlighting the growing investor participation in the market [10][14].