Book is -4.4% to -3.5%—thin signal, median conf 72. Scan says no clean theme: valuation/rates and downside risk split the list. China Three Gorges Renewables ($600905.SS) and Inner Mongolia Yili Inds.

Inner Mongolia Baotou Steel Uni ($600010.SS), Empyrean Technology Co., Ltd. ($301269.SZ), and China CSSC Holdings Limited ($600150.SS) are all univ 1%, sec 1%. Baotou hangs on downside risk, P/E, earnings yield. Empyrean is EPS revision up, but still P/E/earnings-yield down. CSSC is max drawdown and 12mo momentum up, illiquidity down. Changan Automobile ($000625.SZ), China Energy Engineering Corp L ($601868.SS), and Shanghai United Imaging Healthc ($688271.SS) show the split: Changan is downside risk, 60d vol, P/E down. China Energy is 12mo momentum up, downside risk and 60d vol down. United Imaging is EPS revisions up, illiquidity down. Daqin Railway Co., Ltd. ($601006.SS) and China Petroleum & Chemical Corporation ($600028.SS) finish the list. Daqin is downside risk down, max drawdown up, 60d vol down. Sinopec is the outlier: EPS revision accelerating up, vol instability and downside risk down. Watch the valuation/rates drag in Utilities and Materials, and whether EPS-revision names

Inner Mongolia Baotou Steel Uni ($600010.SS), Empyrean Technology Co., Ltd. ($301269.SZ), and China CSSC Holdings Limited ($600150.SS) are all univ 1%, sec 1%. Baotou hangs on downside risk, P/E, earn