China A-Share Margin Traders Load Up on Zhongji Innolight; Margin Balance Falls to 2.60 Trillion Yuan

The headline number is less telling than its composition: leverage is concentrating into a handful of names rather than broadening, with Zhongji Innolight — an optical-module play tied to AI datacenter demand — drawing the single largest net add. That signals margin traders are still willing to pay up for AI-adjacent hardware exposure even as the aggregate balance drifts lower. Whether that concentration persists, or rotates toward the other heavily-bought names, is the open question worth tracking.