Same tape across all 10: earnings yield vs bonds is the top driver in 10 of 10. Book +9.3%..+11.1%, median conf 89. 3 consumer cyclicals, 2 healthcare, 2 tech. This is a cheap-vs-bonds spread, not a s

Vipshop Holdings Limited ($VIPS) +11.1% conf 89, univ/sec 100/100. Yield + EPS revisions do the work; downside risk shaves it. HUAYU Automotive Systems Company Limited ($600741.SS) +11.1% conf 88, univ 100/sec 97. Similar yield, better P/B, no drag. Watch consumer cyclical concentration at the top. PetroChina Company Limited ($0857.HK) +10.5% conf 89, sec 100. Yield and P/B help, P/E vs 5yr is the offset. Trip.com Group Limited ($9961.HK) +10.2% conf 86. Yield, EPS revisions, turnover all pushing. Cleaner signal than PetroChina. Shanghai Pharmaceuticals Holding Co., Ltd ($601607.SS) +9.9% conf 89. 6mo alpha vs SPY helps, but downside risk cuts. Zhejiang NHU Company Ltd. ($002001.SZ) +9.7% conf 87. Yield, P/E vs 5yr, and downside risk all add—unusual combo, less clean. Sunny Optical Technology (Group) Company Limited ($2382.HK) +9.6% conf 89, tech sec 100. Yield and turnover push; EPS revisions are the drag. Foxconn Industrial Internet Co., Ltd. ($601138.SS) +9.3% conf 88. All driver

Vipshop Holdings Limited ($VIPS) +11.1% conf 89, univ/sec 100/100. Yield + EPS revisions do the work; downside risk shaves it. HUAYU Automotive Systems Company Limited ($600741.SS) +11.1% conf 88, univ 100/sec 97. Similar yield, better P/B, no drag. Watch consumer cyclical concentration at the top.