Liquidity

Figures converted from CNY at historical FX rates — see data/company.json.fx_rates. Ratios, margins, and multiples are unitless and unchanged. Note that the YSG ADR trades on NYSE in US dollars; CNY values shown are synthetic conversions for cross-comparison with the company's CNY-reporting financials.

Liquidity & Price Picture

YSG is an NYSE-listed ADR (the trading vehicle is in US dollars; this page presents the equivalents in CNY). The stock sits at ¥19.81 — within 4 percent of its 52-week low and 89 percent below its all-time high — having round-tripped a roughly 22-fold rally that ran from March 2024 to June 2025. The longer-term setup is decisively broken; the more important problem for any institutional reader is that even at full market exposure the name barely trades.

1. Where the stock is

Price (CNY)

19.81

YTD Return (%)

-32.8

1y Return (%)

-37.9

52w Position (%)

1.1

Beta (5y)

-1.77

The 52-week position percentile sits in the bottom 1 percent of the trailing year, and the negative beta (-1.77) reflects that YSG's largest moves over the trailing year have run counter to the broad US market — a function of stock-specific Chinese consumer-discretionary flows rather than meaningful market hedging.

2. The trend chart — full history with 50/200-day SMAs

**Most recent death cross: 8 December 2025.** This is the third 50/200 death cross in three years; the prior one (28 February 2025) reversed within seven weeks via a March golden cross, but the current cross is sitting on a price that has since fallen another 30 percent.

Price is decisively below the 200-day — currently ¥43.62, with spot at ¥19.81 (a 55 percent gap). The full lifetime of the ADR has been a downtrend interrupted by two violent counter-rallies (mid-2022 and the March-2024-to-June-2025 squeeze). Both rallies failed to make new lifetime highs; the structure is a sequence of lower highs that has held for five and a half years.

3. Relative strength

Benchmark and sector overlays are unavailable in this run (the staged `relative_performance.json` returned an empty benchmarks block). The five-year rebased company series is preserved below for reference but the central question — has YSG out- or under-performed SPY and the consumer-discretionary sector — cannot be answered from staged data alone.

The company line — rebased to 100 at April 2023 — captures the entire ¥3.41-to-¥75.95 round trip and is informative on its own: a ~4x move and full give-back in 24 months is a hallmark of speculative, low-float trading rather than a fundamentally driven re-rating. Whether SPY or XLY did anything similar over the same window is the shape of the missing comparison.

4. Momentum — RSI and MACD

RSI sits at 33 — at the 30 oversold line on intraday but not closing oversold. The MACD histogram has just flipped from a deep negative trough back to slightly positive, and the MACD line is converging toward zero from below. The honest reading: a fragile, very early short-term bounce inside a clearly bearish longer-term setup. None of the four counter-rallies on the chart since November 2024 (each marked by a histogram run-up followed by a sharp negative cross) has lasted more than two months — the base rate for these bounces in this name is short and unrewarding.

5. Volume and conviction

No Results

The pattern is asymmetric: the two largest volume spikes by share count (November 2023 and March 2024) coincided with sharp price-down days at sub-¥10 levels — capitulation, not accumulation. The June 2025 cluster (covered in the unusual-volume file across 2025-06-09 through 2025-06-25) marked the violent late-stage of the squeeze that took the stock from ¥36 to ¥78 in three weeks; that volume has since reverted to baseline and the price has unwound. The current downtrend is being confirmed by ordinary, sub-50-day-average volume — sellers have stopped pressing, but buyers haven't shown up.

6. Volatility regime

Reference bands from the trailing 10-year distribution: under 58% is calm (p20), 58–99% is normal (p20–p80), above 99% is stressed (p80). Spot is 67%.

Realized volatility at 67 percent annualised is in the calm-to-normal band — surprisingly low for a stock that had a multi-fold move in the past 18 months. The market is not pricing acute stress here; it is pricing a name that has finished moving violently and has settled into a slow downward grind. That is the most worrying setup for a holder: not a panic to fade, but a quiet bleed.

7. Institutional liquidity panel

This is where the page lands. The fundamentals can be brilliant or terrible — the question for any fund reading this is whether YSG can absorb meaningful capital.

ADV 20d (shares)

118,370

ADV 20d (CNY)

2,536,660

ADV 60d (shares)

126,548

Annual turnover (%)

122.1

Average daily dollar-equivalent volume of about ¥2.5M is the dominant fact about this stock. A roughly ¥1.86B market-cap ADR turning ¥2.5M of value per day means the entire float would notionally take roughly 200 trading days to change hands at recent rates — and most of that turnover is concentrated in the 2024-2025 squeeze. The annual-turnover figure of 122 percent flatters the picture; it is back-loaded into a six-week window around June 2025.

No Results

The median 60-day daily range (high minus low, divided by close) is 5.5 percent — meaningfully above the 2-percent threshold that flags elevated impact cost for large orders. Day-to-day price discovery in YSG happens on tiny size; placing an institutional order would itself move the print.

**No size tier clears the 5-day exit threshold.** Even half a percent of market cap (about ¥9.3M) requires roughly 19 trading days to exit at a 20-percent ADV participation cap — and 37 days at the more realistic 10-percent cap. This is, for buy-side purposes, an untradable institutional position. The largest size that clears 5 trading days at 20 percent ADV is roughly ¥2.5M — about 0.14 percent of market cap.

8. Technical scorecard and stance

No Results

Stance: bearish on a 3-to-6 month horizon. Five of six dimensions print neutral or negative; the only thing keeping momentum from a -1 is the very recent MACD histogram flip, and the base rate of bounces in this name is short and unrewarding. The longer-term setup — price 55 percent below the 200-day, third death cross in three years, sitting on the 52-week low — describes a stock that has not yet given the market a reason to want it back. Compounding the picture, the institutional liquidity panel says no real fund can take meaningful exposure here even if the technicals turned: this is a tape for retail flow and small-volume holders.

The two levels that change the view: a weekly close back above ¥27.80 (≈ $4.00) would reclaim the 100-day SMA and break the sequence of lower highs that has defined the post-squeeze unwind — that is the level above which a constructive re-look is warranted. A close below ¥19.11 (≈ $2.75) breaks the 52-week low and opens up a re-test of the 2024 sub-¥10 zone — that is the level below which the bearish thesis converts from drift-lower to structural breakdown.