Screening Stocks by Turnover, Recent 龙虎榜 Activity, and Dividends

Summary

The document presents a Chinese equity screen combining a turnover ratio from 3% to 12%, appearance on the prior day’s 龙虎榜 (a public ranking of notable trading activity), and a dividend ratio above 25% for 2019. It interprets turnover as a liquidity measure, the ranking appearance as a signal of market or institutional attention, and the historical dividend ratio as a value-oriented characteristic. The selection conditions are shown in formula and data-filter examples, but the article reports no backtest or return evidence.

The author cautions that the screen omits important fundamentals such as profitability and industry prospects, and that a high past dividend ratio does not guarantee company quality or stable price performance. Suggested improvements include adding valuation measures, broader fundamental review, trend analysis, and risk controls, with screening standards adjusted to market conditions. Because the dividend input is tied to a past year and the selection rule lacks explicit entry, exit, and portfolio construction details, it should be treated as a screening idea rather than a complete strategy.

Key ideas

• The screen selects stocks with turnover between 3% and 12%, prior-day 龙虎榜 activity, and a 2019 dividend ratio above 25%.
• Turnover, ranking appearance, and historical dividends are used as proxies for liquidity, attention, and shareholder returns.
• The document provides filter examples but no backtest results or return evidence.
• A high historical dividend ratio does not establish business quality or stable price behavior.
• The article recommends broader fundamental, valuation, trend, and risk analysis.

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