CLS(SZ:002945) Zhong Guo Ji Jin Bao·2025-10-14 04:14Core Viewpoint - Huayin Securities announced an increase in the financing margin ratio to 100% for securities listed on the Shanghai and Shenzhen stock exchanges, effective from October 13, 2025, to manage business risks and adapt to business development [2][4]. Group 1: Margin Ratio Adjustments - Huayin Securities is not the first brokerage to implement such an adjustment; Guojin Securities previously raised its margin ratio from 80% to 100% starting August 27, 2023, citing operational considerations [4]. - The increase in margin ratio means that investors will need to provide 100% of the securities' value as margin, effectively reducing the leverage from 1.25 times to 1 time, thereby lowering risk exposure [5][6]. - The adjustment is seen as a response to the high activity in the margin financing market, with some smaller brokerages facing liquidity pressures [5][9]. Group 2: Market Activity and Trends - As of October 13, the total margin financing balance reached 2.444 trillion yuan, reflecting a daily increase of 25.94 billion yuan, indicating a high level of leverage activity in the market [8]. - Several brokerages, including Huayin Securities, have raised the upper limits of their financing business in response to strong demand, with Huayin increasing its credit business limit from 62 billion yuan to 80 billion yuan within six months [8][9]. - The overall risk in the margin financing market is considered manageable, with expectations for continued activity as the A-share market remains positive [9].