{"id":963,"date":"2026-09-15T15:56:23","date_gmt":"2026-09-15T07:56:23","guid":{"rendered":"https:\/\/llawsw.com\/insights\/margin-loan-exceeds-collateral-stop-waiving-calls-further-buys-2\/"},"modified":"2026-09-16T15:06:20","modified_gmt":"2026-09-16T07:06:20","slug":"margin-loan-exceeds-collateral-stop-waiving-calls-further-buys","status":"publish","type":"insight","link":"https:\/\/llawsw.com\/zh-hans\/insights\/margin-loan-exceeds-collateral-stop-waiving-calls-further-buys\/","title":{"rendered":"\u5982\u4fdd\u8bc1\u91d1\u5ba2\u6237\u6b20\u6b3e\u6216\u4fdd\u8bc1\u91d1\u8d37\u6b3e\u8d85\u8fc7\u62b5\u62bc\u54c1\u5e02\u503c\uff0c\u6301\u724c\u6cd5\u56e2\u80fd\u5426\u7ee7\u7eed\u8c41\u514d\u8ffd\u6536\u4fdd\u8bc1\u91d1\u5e76\u5bb9\u8bb8\u8fdb\u4e00\u6b65\u4e70\u5165\uff1f"},"content":{"rendered":"<aside class=\"llaw-callout\">\n<p>\u672a\u507f\u8fd8\u8d37\u6b3e\u8d85\u8fc7\u62b5\u62bc\u54c1\u5e02\u503c\u65f6\uff0c\u5fc5\u987b\u505c\u6b62\u8c41\u514d\u8ffd\u6536\u4fdd\u8bc1\u91d1\uff08\u300a\u8bc1\u5238\u4fdd\u8bc1\u91d1\u878d\u8d44\u6d3b\u52a8\u6307\u5f15\u300b\u7b2c6.5\u6bb5\uff09\u3002<\/p>\n<p>\u8d37\u6b3e &gt; \u5e02\u503c\u65f6\uff0c\u5fc5\u987b\u505c\u6b62\u4ee5\u4fdd\u8bc1\u91d1\u878d\u8d44\u8fdb\u4e00\u6b65\u653e\u6b3e\u53ca\u8fdb\u4e00\u6b65\u4e70\u5165\u8bc1\u5238\uff08\u7b2c6.6\u6bb5\uff09\u3002<\/p>\n<\/aside>\n<h2>\u8d37\u6b3e\u8d85\u8fc7\u62b5\u62bc\u54c1\u5e02\u503c\u65f6\u7684\u4e24\u9879\u5f3a\u5236\u505c\u624b<\/h2>\n<p>\u8bc1\u76d1\u4f1a\u300a\u8bc1\u5238\u4fdd\u8bc1\u91d1\u878d\u8d44\u6d3b\u52a8\u6307\u5f15\u300b\u8ba2\u660e\uff1a\u5f53\u4fdd\u8bc1\u91d1\u5ba2\u6237\u98ce\u9669\u5df2\u4e0d\u518d\u83b7\u62b5\u62bc\u54c1\u652f\u6301\u65f6\u7684\u5f3a\u5236\u56de\u5e94\u3002\u5982\u672a\u507f\u8fd8\u4fdd\u8bc1\u91d1\u8d37\u6b3e\u7ed3\u4f59\u8d85\u8fc7\u76f8\u5173\u62b5\u62bc\u54c1\u5e02\u503c\uff0c\u6301\u724c\u6cd5\u56e2\u5fc5\u987b\u505c\u6b62\u8c41\u514d\u8ffd\u6536\u4fdd\u8bc1\u91d1\uff08\u7b2c6.5(b)\u6bb5\uff09\uff0c\u5e76\u505c\u6b62\u4ee5\u4fdd\u8bc1\u91d1\u878d\u8d44\u4f5c\u4efb\u4f55\u8fdb\u4e00\u6b65\u653e\u6b3e\u53ca\u8fdb\u4e00\u6b65\u4e70\u5165\u8bc1\u5238\uff08\u7b2c6.6\u6bb5\uff09\u3002<\/p>\n<p>\u7b2c6.5\u6bb5\u4ea6\u8981\u6c42\uff1a\u5ba2\u6237\u8fc7\u5f80\u7ecf\u5e38\u672a\u80fd\u6309\u65f6\u8865\u4ed3\u65f6\uff0c\u987b\u505c\u6b62\u8c41\u514d\uff08\u7b2c6.5(a)\u6bb5\uff09\u3002\u6b64\u7b49\u5c5e\u5f3a\u5236\u8981\u6c42&mdash;\u5e76\u975e\u53ef\u81ea\u884c\u53d6\u820d\u7684\u98ce\u9669\u504f\u597d\u3002<\/p>\n<h2>\u653f\u7b56\u3001\u89e6\u53d1\u6761\u4ef6\u4e0e\u6709\u8bb0\u5f55\u7684\u504f\u79bb<\/h2>\n<p>\u7b2c6.1&ndash;6.2\u6bb5\u671f\u671b\u6301\u724c\u6cd5\u56e2\u8ba2\u7acb\u5e76\u8bb0\u5f55\u4e0b\u5217\u89e6\u53d1\u6761\u4ef6\uff1a<\/p>\n<ul>\n<li>\u53d1\u51fa\u8ffd\u6536\u4fdd\u8bc1\u91d1\uff1b<\/li>\n<li>\u505c\u6b62\u8fdb\u4e00\u6b65\u653e\u6b3e\u53ca\u4e70\u5165\uff1b\u53ca<\/li>\n<li>\u5f3a\u5236\u5e73\u4ed3\u62b5\u62bc\u54c1\u3002<\/li>\n<\/ul>\n<p>\u7b2c6.7\u6bb5\u53ea\u5bb9\u8bb8\u5728\u6709\u6b63\u5f53\u7406\u7531\u3001\u5e76\u7ecf\u5ba1\u614e\u8bc4\u4f30\u3001\u8bb0\u5f55\u53ca\u9ad8\u7ea7\u7ba1\u7406\u4eba\u5458\u6279\u51c6\u4e0b\u504f\u79bb\u4e25\u683c\u9002\u7528\u3002\u6ca1\u6709\u8be5\u9014\u5f84\u7684\u9ed8\u8bb8\u3001\u65e0\u9650\u671f\u8c41\u514d\u5e76\u4e0d\u5408\u89c4\u3002<\/p>\n<h2>\u6267\u6cd5\u8bf4\u660e\uff1a25PR39<\/h2>\n<p>\u6267\u6cd5\u6d88\u606f 25PR39\uff08Enlighten Securities Limited\uff09\u663e\u793a\u5931\u8d25\u6a21\u5f0f\uff1a\u5ba2\u6237\u5728\u4fdd\u8bc1\u91d1\u8d37\u6b3e\u77ed\u6b20\u4e0b\u4ecd\u7ee7\u7eed\u8fdb\u4e00\u6b65\u4e70\u5165\uff1b\u8ffd\u6536\u4fdd\u8bc1\u91d1\u5b9e\u8d28\u88ab\u8c41\u514d\u5374\u672a\u6309\u7b2c6.7\u6bb5\u8bb0\u5f55\u504f\u79bb\uff1b\u4ee5\u53ca\u5728\u5c1a\u6709\u672a\u6e05\u7f34\u8ffd\u6536\u4e0b\u4ecd\u63d0\u9ad8\u4fe1\u8d37\u9650\u989d\u3002\u9648\u8ff0\u540c\u65f6\u5f15\u7528\u300a\u64cd\u5b88\u51c6\u5219\u300b\u9644\u88685\u4fdd\u8bc1\u91d1\u878d\u8d44\u6807\u51c6\u53ca\u300a\u8bc1\u5238\u4fdd\u8bc1\u91d1\u878d\u8d44\u6d3b\u52a8\u6307\u5f15\u300b\u3002<\/p>\n<h2>\u5b9e\u52a1\u754c\u7ebf<\/h2>\n<p>\u672c\u7bc7\u6db5\u76d6\u8d37\u6b3e &gt; \u5e02\u503c\u65f6\u7684\u8ffd\u6536\u8c41\u514d\u4e0e\u8fdb\u4e00\u6b65\u4e70\u5165\uff0c\u6709\u522b\u4e8e\uff1a<\/p>\n<ul>\n<li>\u518d\u8d28\u62bc140%\u4e0a\u9650\uff08\u300a\u5ba2\u6237\u8bc1\u5238\u89c4\u5219\u300b\u7b2c8A\u6761\uff09&mdash;\u518d\u8d28\u62bc\u62b5\u62bc\u54c1\u6570\u91cf\uff0c\u800c\u975e\u8c41\u514d\u653f\u7b56\u3002<\/li>\n<li>IPO\u8ba4\u8d2d\u8d44\u91d1\uff08\u901a\u51fd 25EC18\uff09&mdash;\u53e6\u4e00\u878d\u8d44\u8303\u7574\u3002<\/li>\n<li>\u4f2a\u88c5\u7b2c8\u7c7b\u8bc1\u5238\u4fdd\u8bc1\u91d1\u878d\u8d44\uff08\u901a\u51fd 18EC58\uff09&mdash;\u724c\u7167\u8303\u56f4\uff0c\u800c\u975e\u8ffd\u6536\u8c41\u514d\u673a\u5236\u3002<\/li>\n<\/ul>\n<h2>\u672c\u56de\u7b54\u7684\u8303\u56f4<\/h2>\n<p>\u672c\u7bc7\u64ae\u8981\u300a\u8bc1\u5238\u4fdd\u8bc1\u91d1\u878d\u8d44\u6d3b\u52a8\u6307\u5f15\u300b\u7b2c6.1&ndash;6.7\u6bb5\u53ca 25PR39 \u6267\u6cd5\u80cc\u666f\u3002\u5e76\u975e\u5b8c\u6574\u4fdd\u8bc1\u91d1\u98ce\u9669\u653f\u7b56\u624b\u518c\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u672a\u507f\u8fd8\u8d37\u6b3e\u8d85\u8fc7\u62b5\u62bc\u54c1\u5e02\u503c\u65f6\uff0c\u5fc5\u987b\u505c\u6b62\u8c41\u514d\u8ffd\u6536\u4fdd\u8bc1\u91d1\uff08\u300a\u8bc1\u5238\u4fdd\u8bc1\u91d1\u878d\u8d44\u6d3b\u52a8\u6307\u5f15\u300b\u7b2c6.5\u6bb5\uff09\u3002 \u8d37\u6b3e > &#8230; \u9605\u8bfb\u66f4\u591a<\/p>\n","protected":false},"author":0,"featured_media":0,"template":"","class_list":["post-963","insight","type-insight","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/llawsw.com\/zh-hans\/wp-json\/wp\/v2\/insight\/963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/llawsw.com\/zh-hans\/wp-json\/wp\/v2\/insight"}],"about":[{"href":"https:\/\/llawsw.com\/zh-hans\/wp-json\/wp\/v2\/types\/insight"}],"version-history":[{"count":0,"href":"https:\/\/llawsw.com\/zh-hans\/wp-json\/wp\/v2\/insight\/963\/revisions"}],"wp:attachment":[{"href":"https:\/\/llawsw.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}