China scan is all negative 6m expected returns, -5.2% to -3.0%, conf 70-72. Five of ten are tech/solar/semis, univ ranks 0-2%. Dominant drag is earnings yield vs bonds—half the list fights the same he

LONGi Green Energy Technology Co., Ltd. ($601012.SS) and Tongwei Co.,Ltd ($600438.SS) both get the bond-yield hit. LONGi adds downside risk and 60d vol; Tongwei’s difference is EPS revisions accelerating. Xinyi Solar Holdings Limited ($0968.HK) is a liquidity name—illiquidity up, turnover down. Rongsheng Petrochemical Co., Ltd. ($002493.SZ) is contrarian: max drawdown, P/B vs 5yr, 12mo momentum all pushing up. Wuliangye Yibin Co.,Ltd ($000858.SZ) reads defensive—low illiquidity, low 20d vol, weak EPS revision trend. Shanghai United Imaging Healthcare Co., Ltd. ($688271.SS) is a vol fade: 20d/60d vol and bond yield all down. SG Micro Corp ($300661.SZ) and Zhejiang Jingsheng Mechanical & Electrical Co., Ltd. ($300316.SZ) both lean on momentum/PB, but Jingsheng has the cleaner EPS revision stack. Good signal in a negative tape. Xinjiang Daqo New Energy Co.,Ltd ($688303.SS) gets the bond-yield drag but vol instability positive—messy. Li Auto Inc. ($2015.HK) has the same macro drag yet EPS

LONGi Green Energy Technology Co., Ltd. ($601012.SS) and Tongwei Co.,Ltd ($600438.SS) both get the bond-yield hit. LONGi adds downside risk and 60d vol; Tongwei’s difference is EPS revisions accelerat