On the afternoon of October 9th, certain investors reported that they had received text message alerts from East Money Securities. The messages indicated that, starting from October 9th, the conversion rate for SMIC stocks held in margin accounts would be revised from 0.7 down to 0. Similarly, the conversion rate for BIWIN stocks would be adjusted from 0.5 to 0. It's worth noting that this adjustment isn't a one - off move by a single brokerage firm targeting only specific stocks. On that very day, a number of well - known brokerage firms, including East Money Securities, Orient Securities, Guotai Junan Securities, China Galaxy Securities, Industrial Securities, Ping An Securities, and Everbright Securities, all set the conversion rates for both BIWIN and SMIC stocks to zero. Moreover, the conversion rates for several other stocks were also set to zero. These stocks include Yongding Co., Ltd., Mammut Energy Technology (Shenzhen) Co., Ltd., Harbin Air Conditioning Co., Ltd., Grandbright Fruit and Vegetable Co., Ltd., Tianma Technology Group Co., Ltd., and Rui Sheng Intelligent Technology Co., Ltd.