阿里巴巴股票做空头寸创新高

 Traders have never been more bearish¹ on Alibaba Group Holding Ltd, the fast-growing Chinese e-commerce company facing a probe by the US Securities and Exchange Commission, and SoftBank share sale.

美国证券交易委员会的调查以及软银抛售阿里巴巴集团股票，使交易员们前所未有地对这家快速发展的中国电子商务巨头看跌。

The total number of outstanding shares borrowed for short selling peaked at more than 124 million last week. That's the most since its 2014 initial public offering and is up from about 60 million in December, according to data compiled by Bloomberg and Markit Ltd.

上周，空头借入进行卖空的阿里巴巴流通股总量达到了超过1.24亿股的历史峰值。彭博社和Markit Ltd汇总的数据显示，这一做空数量达到2014年阿里巴巴首次公开募股以来的最高水平，远高于去年12月时的约6000万股。

Prominent short sellers including Jim Chanos and John Hempton have been red-flagging Alibaba for months, suggesting that its growth figures might be too good to be true.

著名空头人士吉姆·查诺斯和约翰·汉普顿等人已经连续几个月对阿里巴巴“举红旗”，认为该公司的增长数据好到令人怀疑其真实性。

遭SEC调查和大股东减持 阿里巴巴股票做空头寸创新高

Bearish bets spiked² in the past two weeks after the company disclosed a regulatory probe of its Chinese delivery unit and SoftBank Group Corp disclosed plans to sell a $10 billion stake.

随着该公司披露其中国物流业务受到监管调查、软银披露其计划减持100亿美元股份，投资者对阿里巴巴的做空在过去两周迅速增加。

"There's been an accumulation of factors making it more and more attractive for short sellers to target Alibaba, while the SEC investigation³ and SoftBank share sale added a lot of pressure," said Gil Luria, an analyst⁴ at Wedbush Securities Inc in Los Angeles, who has a neutral rating on the stock.

韦德布什证券公司的分析师吉尔·鲁里亚表示，“各种因素的累计让做空阿里巴巴变得更具吸引力，而SEC的调查和软银的减持更是雪上加霜。”

"If the SEC was to find Alibaba's accounting⁵ isn't proper and Alibaba has to restate its results, that'll be very detrimental⁶. Because Alibaba's so high profile, it will cast an even greater shadow of Chinese companies listed in the US."

“如果SEC发现阿里巴巴会计账目不准确、阿里巴巴被迫重估业绩，那会非常糟糕。阿里巴巴如此知名，这事可能给在美上市中资企业投下更大的阴影。”

Alibaba, which claimed more than 75 percent of the e-commerce market share in the Chinese mainland last year, made history with a record $25 billion initial public offering in September 2014. Traders in New York clamored for the stock, which was priced at $68 a share, as a way to tap into the potential profits available from the country's growing middle class.

阿里巴巴2014年9月IPO融资250亿美元，创下全球IPO新纪录。该公司宣称，2015年在中国电商市场占有率超过75%。纽约的交易员们争抢该公司股票，希望以此抓住中国不断壮大的中产阶级带来的赚钱机会。

The shares have dropped 6.4 percent to $75.92 since May 25 when the company said that the SEC is looking at data reported from the company's Singles Day (Nov 11) promotion⁷, Alibaba's biggest shopping day, and how the company consolidates⁸ results from affiliates⁹, including logistics partner Cainiao Network.

自5月25日阿里巴巴宣布SEC进行调查以来，其股价累计下跌了6.4%，至每股75.92美元。调查集中在该公司如何完成附属企业，包括物流合作伙伴菜鸟网的并表操作，以及光棍节（“双11”）促销活动数据上。

While SoftBank's divestment comes as part of a broader strategy to find new investments in startups and strengthen its debt-heavy balance sheet, the move can be unsettling to investors¹⁰ as the Japanese technology giant first bought into the company 16 years ago, said Henry Guo, a New York-based analyst at M Science.

M Science驻纽约的分析师郭琪表示，“虽然软银的减持是其大战略的一部分，为的是增加在初创企业的投资、改善其负债沉重的资产负债表，但这一举措让投资者不安，因为软银16年前就入股阿里巴巴了。”

But most analysts¹¹ covering Alibaba remain bullish. 37 of them advise buying the stock, while six rate it hold, according to data compiled by Bloomberg. It has no sell ratings.

不过多数研究阿里巴巴集团的分析师依然看涨。根据彭博社汇编的数据，37位分析师建议“买入”该股，6位分析师给予该股“持有”评级，没有分析师给出“卖出”评级。

1 bearish   

adj.(行情)看跌的，卖空的

参考例句：

• It is foolish not to invest in stocks,so I will show her how to be bearish without them too,if she chooses.不投资股票是愚蠢的，因此如果她选择股票，我会向她展示怎样在没有长期潜力的情况下进行卖空。
• I think a bearish market must be a good time for bargain-hunters to invest.我觉得熊市对于想买低的人可是个投资的大好机会。

2 spiked   

adj.有穗的；成锥形的；有尖顶的

参考例句：

• The editor spiked the story. 编辑删去了这篇报道。 来自《简明英汉词典》
• They wondered whether their drinks had been spiked. 他们有些疑惑自己的饮料里是否被偷偷搀了烈性酒。 来自辞典例句

3 investigation   

n.调查，调查研究

参考例句：

• In an investigation,a new fact became known, which told against him.在调查中新发现了一件对他不利的事实。
• He drew the conclusion by building on his own investigation.他根据自己的调查研究作出结论。

4 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

5 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

6 detrimental   

adj.损害的，造成伤害的

参考例句：

• We know that heat treatment is detrimental to milk.我们知道加热对牛奶是不利的。
• He wouldn't accept that smoking was detrimental to health.他不相信吸烟有害健康。

7 promotion   

n.提升，晋级；促销，宣传

参考例句：

• The teacher conferred with the principal about Dick's promotion.教师与校长商谈了迪克的升级问题。
• The clerk was given a promotion and an increase in salary.那个职员升了级，加了薪。

8 consolidates   

巩固

参考例句：

• We've made a good start, now it's time to consolidate. 我们有了一个良好的开端，现在应该加以巩固。 来自《简明英汉词典》
• Yuan Shih-k'ai, a would-be Oriental Bonaparte, now attempted to consolidate his power. 当时，一度可能成为东方波拿巴的袁世凯试图巩固他的权力。 来自英汉非文学 - 新闻报道

9 affiliates   

附属企业( affiliate的名词复数 )

参考例句：

• She affiliates with an academic society. 她是某学术团体的成员。
• For example, these security affiliates participated in the floating of 19,000,000,000 of issues in 1927. 例如，这些证券发行机构在1927年的流通证券中，就提供了一百九十亿美元的证券。

10 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

11 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。