Here's an interesting thing. This money is not afraid of liquidation because it is targeted "re-pledge" funds. In simple terms, listed companies and major shareholders can pledge their stocks multiple times to obtain funds from financial institutions. The current pledge rate is around 80% to 85%, so listed companies will not sell stocks. There is no point in selling them. Instead, they will keep pledging their stocks so that they can get more money.

Although this money is specifically used to pull the market (buy back), do you think the listed company has the ability to gain more profits through pulling the market? In addition, if this money is liquidated, that is, the stock market falls next, then the listed company's pledged position will be closed. Even if it loses money, the financial institution will not be held accountable because this is a special fund for a special purpose.

I wonder if my friends can understand the implied meaning here.

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