Short position常译为：“淡仓”或 “短仓”。

淡仓解释：

大股东根据证券借贷协议借入股份，或如它因持有、沽出或发行金融文书(包括衍生工具) 而具有例如以下的权利与责任，它便属于持有 “淡仓”：

(i)它有权要求另一人购入相关股份；

(ii)它有责任交付相关股份；

(iii)如相关股份价格下降，它有权收取款项；

(iv)如相关股份价格下降，它有权避免或减低损失。

【双语例句】

Save as disclosed above, as at the Latest Practical Date, the Directors are not aware of any other person who had an interest or short position in the Shares or underlying Shares of the Company which would fall to be disclosed to the Company under the provisions of Divisions 2 and 3 of Part XV of the SFO, or who was, directly or indirectly, interested in 10% or more of the nominal value of any class of share capital, or options in respect of such capital, carrying rights to vote in all circumstances at general meetings of any other member of the Group.

除上文披露者外，于最后可行日期，董事并不知悉任何其他人士于本公司的股份或 相关股份中拥有权益或淡仓，而该 等权 益 或淡仓根 据证 券及期货条例第XV部第2及第 3分部的条文须向本公司作出披露，或直接或间接拥有面值10%或以上任何类别股本 权益（或与该等股本有关的购股权），而该等股本附有权利可于任何情况下在本集团任何其他成员公司的股东大会上投票。

Options and any interest under the Securities Lending Agreement), other than a Director or chief executive of the Company whose interests are disclosed under the sub-paragraph headed “Interests and short positions of the Directors in the shares, underlying shares or debentures of the Company and its associated corporations following the Share Offer” above, the following persons will have an interest or short position in the Shares or underlying Shares [...] of the Company which would fall to be disclosed to the Company under the provisions of Divisions 2 and 3 of Part XV of the SFO and who will be expected, directly or indirectly, to be interested in 10% or more of the Shares.

发行的任何股份及借股协议下之任何权益），除 上 文「股份发售后董事于本公司及 其相联法团的股份、相关股份或债券的权益 及淡仓 」分 段披露其权益的本公司董事 或行政总裁外 ，以下人士将于本公司股 份 或 相 关股 份拥 有根据证券及期货条例第 XV部第2及3分部条文须向本公司披露的权益或淡仓，并且预期将于10%或以上股 份直接或间接拥有权益 。