---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42038818.md"
description: "$XTALPI(02228.HK) I'm just curious about how much borrowable stock is left? The short interest ratio has basically reached 10%! Founder team holdings plus locked positions from Stock Connect plus some long-term ETFs that don't move, has the actual effective proportion already reached around 30%? The float is already exhausted, basically maintained by short selling!"
datetime: "2026-06-22T02:42:22.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42038818.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42038818.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42038818.md)
author: "[wolf-001](https://longbridge.com/en/profiles/15460724.md)"
---

# $XTALPI(02228.HK) I'm just curious about how much …


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## Comments (10)

- **股主管理局 · 2026-06-23T06:49:49.000Z**: Hello teacher! I've read your recent series of analyses on "Jingtai Holdings," which are very insightful. After comprehensive evaluation, we sincerely invite you to become a$XTALPI(02228.HK) StockPro, enjoying multiple exclusive heavyweight benefits offered by the Longbridge community! If yo
- **不到20不放手 · 2026-06-22T03:02:12.000Z**: For example, A borrows 1000 and sells it to B at 11.0, B then lends this 1000 to C and sells it to D at 10.0, and so on. The source of securities doesn't increase, does it?
  - **wolf-001** (2026-06-22T03:06:42.000Z): Cannot short sell out of thin air
  - **不是吧不是吧** (2026-06-22T03:11:24.000Z): This feels like circular pledging
  - **不到20不放手** (2026-06-22T03:13:54.000Z): I asked Doubao and calculated the securities lending supply. There really isn't much left, but it feels like it's constantly replenishing.
- **不是吧不是吧 · 2026-06-22T02:44:43.000Z**: The Norwegian guy's investment should also be quite a lot underwater. Have they sold it yet?
  - **wolf-001** (2026-06-22T02:52:28.000Z): ​ (43.07 - 5.55 - 20.4) = 1.712 billion shares theoretically available for lending, on average 1.712*30%=5.136 billion can be lent (normally this ratio is not reached). As of today, 400 million shares
  - **不到20不放手** (2026-06-22T02:59:59.000Z): Can't it be sold repeatedly?
  - **wolf-001** (2026-06-22T03:48:29.000Z): Normally wouldn't sell