Book spread is thin: +11.4% to +12.9% over 6m, median conf 90. The model isn't differentiating much by return, just conviction. 10 of 10 names have earnings yield vs bonds as the top driver. Sector mi

$1044.HK Hengan International +12.9% conf 90, consumer defensive. Top rank but the drivers are P/B and P/E vs 5yr both up—valuation expansion already priced. $600015.SS Hua Xia Bank is cleaner: +12.7% conf 90, P/B vs 5yr plus 60d momentum. $600741.SS HUAYU Automotive +12.7% conf 90, consumer cyclical. P/E vs 5yr is a drag, but EPS revisions accelerating—that's the differentiator. $601607.SS Shanghai Pharmaceuticals +12.6% conf 90, healthcare, EPS revisions accelerating and downside risk fading. $9961.HK Trip.com Group +12.5% conf 88, consumer cyclical: turnover plus EPS revisions, not just cheap. $0857.HK PetroChina +12.4% conf 90, energy, but vol instability as a positive driver is odd for an oil giant. $002001.SZ Zhejiang NHU +12.2% conf 88, healthcare—P/E vs 5yr and downside risk both elevated, less clean. $601668.SS China State Construction Engineering +11.6% conf 90, industrials: cheap P/E vs 5yr, stronger P/B vs 5yr. $601138.SS Foxconn Industrial Internet +11.5% conf 90, tech: EP

$1044.HK Hengan International +12.9% conf 90, consumer defensive. Top rank but the drivers are P/B and P/E vs 5yr both up—valuation expansion already priced. $600015.SS Hua Xia Bank is cleaner: +12.7%