Chinese Stock Screening by Turnover, Order Flow, and Historical Dividend Payout

Summary

This post describes a Chinese equity screen requiring turnover between 3% and 12%, a ratio of external to internal trading volume above 1.3, and a 2019 dividend payout ratio above 25%. The author frames these conditions as a way to combine trading activity and an order-flow proxy with a historical measure of company distributions. SQL-like and Python examples show how the listed filters could be applied to stock data.

The post offers no backtest, returns, or evidence that the combination predicts future performance. It notes that the selected criteria omit other relevant fundamentals and that a high historical payout may not persist. Suggested additions include profitability, valuation, asset turnover, earnings growth, and future prospects, but these are not specified as tested rules. The historical dividend year also limits how current the screen is unless the data condition is updated. As presented, the method is a screening template rather than a complete portfolio or trading strategy.

Key ideas

• The screen combines a turnover band, external-to-internal volume ratio, and a historical dividend payout threshold.
• The post provides example query and Python logic for applying the filters.
• No backtest or performance evidence is reported.
• A high payout in the reference year may not indicate that future payouts will remain high.
• The author recommends considering additional fundamentals and growth prospects.

Tags

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