Margin call storm coming? Latest data reveals three major truths.

On July 17th, the market experienced a significant adjustment, and news about margin calls being concentrated began to spread. A frontline investigation by reporters revealed three key truths revealed by margin trading data: First, the "sound of thunder but little rain" in terms of margin calls, with most securities firms' branches not conducting margin calls. The investigation showed that only one person triggered a margin call at a large branch of A securities firm, accounting for less than 0.1%, and the overall risk is manageable. Second, retail investors did not panic and flee, but instead net inflows into the market. The market's capacity to absorb pressure remains, and the "leverage stampede" is actually a misinterpretation caused by excessive panic. Third, margin trading balances have dropped for 11 consecutive periods by over 170 billion yuan, with most of the reduction coming from financing clients actively reducing leverage. Actual leverage levels have generally not reached their limits, and very few investors are fully leveraged and fully margined.