41. Bulk commodities: Bulk commodities refer to material commodities that can enter the circulation field but are not retail links. They have commodity attributes and are purchased and sold in large quantities for agricultural production and consumption. In the financial investment market, bulk commodities refer to commodities that are homogeneous, tradable, and widely used as basic industrial raw materials, such as crude oil, nonferrous metals, agricultural products, iron ore, coal, etc. It includes 3 categories, namely energy commodities, basic raw materials and agricultural and sideline products.

42. MBO: MBO (Management Buy-Outs) is the abbreviation of “Manager Buy-Outs”. That is, the managers or managers of the target company use external financing capital to purchase the company’s equity, thereby changing the company’s owner structure, control structure and asset structure, thereby reorganizing the company and obtaining expected returns. After the MBO is completed, the former managers become today’s shareholders.

43. Refinancing business: In layman’s terms, refinancing means that institutions such as banks, funds, and insurance companies provide funds and securities, and securities companies act as intermediaries to provide these funds and securities to shareholders for financing or securities lending.

44. Bridge capital: Bridge capital is a kind of short-term financing. The purpose of providing bridge funds is to meet the conditions for docking with long-term funds through the financing of bridge funds, and then replace the bridge funds with long-term funds. Bridge funding is only a temporary state. It is characterized by short term, high gold content, high capital return, and easier risk control.

45. Loan-to-deposit ratio: The ratio of total commercial bank loans divided by total deposits, that is, total bank loans/total deposits. From the perspective of bank profitability, the higher the loan-to-deposit ratio, the better, because deposits have to pay interest. If a bank has a lot of deposits and few loans, it means that it has high costs and low income, and its profitability is poor. . However, from the perspective of banks resisting risks, the loan-to-deposit ratio should not be too high.