$XTALPI(02228.HK) Short position profit/loss and closing price levels

(The "break-even line" for short positions)

• Short selling price: HKD 11.5 (midpoint of the range)

• Securities lending cost (annualized): 8%–10%

• Holding cost for 1 year: ≈HKD 0.9–1.15

• Break-even buyback price ≈ HKD 12.4–12.65

✅ Trading Recommendations

• Current price 11.2: Watch/light position, do not bottom-fish

• If falls below 11.0: Do not cut losses, wait for a rebound

• If stabilizes above 11.5: Can try a small long position