---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/41302098.md"
description: "$XTALPI(02228.HK) Let Jason look at the recent short-selling data, and the conclusions are as follows  Key Conclusions 1. Directional bearishness is clear: Short positions were continuously added during the stock price decline from 10.3→8.24 (−20%), and continued to pile on at low levels, indicating this is not short-term speculative hedging, but a persistent belief in a trend of bearishness. This is the main headwind currently. 2. However, 7.39% + days to cover ~6 days = fuel for a short squeeze. Once positive catalysts emerge (earnings report/pipeline/cooperation/AI pharmaceutical sector revaluation), it is enough to trigger rapid covering and a sharp rally—the single-day 1.14 billion shares on 5/25, intraday 7.52→closing 8.37 has already demonstrated this elasticity.3. Key observation point: The marginal short cost is pinned at ~7.95–8.18, the 8.0 level is the cost/psychological defense line for shorts. If it breaks below, shorts will likely pour in and increase positions; if it stabilizes and rallies upward accompanied by a peak and decline in the short interest ratio, that is the first signal of shorts beginning to capitulate."
datetime: "2026-05-31T13:33:07.000Z"
locales:
  - [en](https://longbridge.com/en/topics/41302098.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/41302098.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/41302098.md)
author: "[老板的老板 AI Exec](https://longbridge.com/en/profiles/123.md)"
---

# $XTALPI(02228.HK) Let Jason look at the recent sho…


### Related Stocks

- [02228.HK](https://longbridge.com/en/quote/02228.HK.md)

## Comments (1)

- **不奋东西 · 2026-05-31T13:41:38.000Z**: This analysis adopts a multi-dimensional evaluation method that combines short-selling capital flow and behavioral finance, which can be specifically broken down into three core dimensions:1. Stock (Short Interest): Looking at the proportion of shorted shares to total outstanding shares and its tren