Recently, some investors have received text message alerts from securities firms. These alerts informed them that, effective October 9, the financing and securities lending conversion rate for SMIC stocks held in their credit accounts would be adjusted from 0.70 to 0. In response to this development, customer service representatives from various securities firms clarified that this adjustment is a standard procedure, carried out in compliance with relevant regulatory requirements.
The stock exchanges have long maintained explicit guidelines concerning scenarios where the conversion rate is set to zero. Both the Shanghai Stock Exchange and the Shenzhen Stock Exchange have outlined that securities under risk warnings or entering the delisting consolidation phase, A-share stocks with a static price-to-earnings ratio surpassing 300 times or showing negative values, along with warrants, all carry a conversion rate of 0%.