Chinese Stock Screen Using Price Range, Auction Volume, Turnover, and Dividends

Summary

This Chinese-language post describes a stock selection rule combining price movement, trading activity, and a historical dividend condition. It selects shares with amplitude above 1, where yesterday’s turnover rate multiplied by today’s auction volume divided by yesterday’s volume falls between 0.5 and 2, and the 2019 dividend ratio exceeds 25%. The accompanying example code scans listed stocks and checks dividend, adjustment-factor, and daily market data before adding qualifying symbols.

The post frames the screen as a mix of technical and company payout information, then warns that a dividend ratio alone cannot capture financial strength and that other fundamentals may be overlooked. It suggests adding valuation, profitability, yield, and growth measures, although the final description of the rule does not specify precise thresholds for those additions. No backtest, returns, or risk statistics are provided, and the sample code’s data dates and field choices may not match the stated auction-volume formula exactly. Treat it as a screening concept rather than validated evidence of an investable edge.

Key ideas

• The screen combines an amplitude threshold with a bounded product of turnover and relative auction volume.
• It also requires a dividend ratio above a stated threshold for 2019.
• The example code queries stock, dividend, adjustment, and daily market data to find candidates.
• The author notes that dividend information alone omits important measures of financial condition and growth.
• The post provides no performance test, and the code may not implement the written auction-volume rule exactly.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.