Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2026-01-05 08:45Core Insights - The A-share market's financing balance reached 25,241.56 billion yuan by December 31, 2025, with an increase of 6,700.11 billion yuan during the year [1][3] Financing Balance Overview - By the end of 2025, the total margin balance in the A-share market was 25,406.82 billion yuan, marking a historical high for both margin balance and financing balance [3] - In 2025, the financing balance increased in 9 out of 12 months, with significant net buying amounts exceeding 1,200 billion yuan in February, July, August, and September [4] Industry-Specific Financing Trends - In 2025, the electronics sector saw a financing balance increase of over 1,600 billion yuan, with the highest net buying stocks being Xinyi Technology and the largest net selling stock being Muyuan Foods [2][4] - Among 31 industries, 27 experienced an increase in financing balance, with the electronics, power equipment, and communication sectors leading in net buying amounts of 1,631.69 billion yuan, 984.90 billion yuan, and 626.05 billion yuan respectively [4] Stock-Specific Financing Activities - In 2025, financing clients increased their positions in 130 stocks by over 1 billion yuan, with the top ten stocks including Xinyi Technology, Zhongji Xuchuang, and Shenghong Technology, showing net buying amounts of 177.36 billion yuan, 154.62 billion yuan, and 154.04 billion yuan respectively [6] - The top ten stocks with the largest net selling amounts included Muyuan Foods, Dongfang Wealth, and Vanke A, with net selling amounts of 16.35 billion yuan, 14.44 billion yuan, and 11.23 billion yuan respectively [7] Margin Trading Overview - The margin trading balance in the A-share market reached 165.26 billion yuan by December 31, 2025, with a total of 30.34 billion shares available for margin trading [9] - The stocks with the highest margin balances included Ningde Times, Kweichow Moutai, and China Ping An, with balances of 1.33 billion yuan, 1.22 billion yuan, and 0.99 billion yuan respectively [9][10] Margin Selling Trends - The top three stocks with the highest net selling amounts in margin trading were Ningde Times, Mindray Medical, and Focus Media, with net selling amounts of 76.61 million yuan, 52.98 million yuan, and 46.28 million yuan respectively [11]