According to Jiemian News, it is rumored on the Internet that the well-known actress Jiang Shuying ran to the headquarters of Shenwan Hongyuan because of Snowball’s liquidation. According to screenshots posted online, some people claimed that the loss was tens of millions.
According to the latest news from Sina Securities, a relevant person in charge of Shenwan Hongyuan said, "Don't ask, Jiang Shuying is not here." The photos posted online show a camera in the corner, which should be photos of work on the set.
According to China-Singapore Jingwei report, it is understood that "snowball" is a code name for a type of option structure, with a duration of usually 1-2 years. China Securities Quotation stated that all investments in Xueqiu products are made by professional investors, including bank financial management, private equity funds and other products as well as institutional investors. The risks it faces are mainly market risks. Buying in a product during its existence does not mean a loss. The final profit or loss depends on the market conditions when the product expires.
Guotai Junan Securities Research Report pointed out that snowball options are a type of barrier option. The contract stipulates a knock-in price. When the underlying price falls below the knock-in price, investors may bear actual losses on the underlying. The contracts are mainly linked to stock indexes.
In response to whether any customers have purchased Snowball products recently, the above-mentioned staff of Shenwan Hongyuan said that they cannot disclose it because it involves customer privacy.
source | Observer Network comprehensive
