{
  "ticker": {
    "uuid": "425a8fd3-6cdc-49f2-8cbc-533134c8f965",
    "symbol": "600285",
    "name": "Henan Lingrui Pharmaceutical Co., Ltd.",
    "exchange": "SHH",
    "country": "CN",
    "assetType": "equity"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "000001.SS",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 58.578,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Value reclamation",
    "architecture_gate": "mixed",
    "architecture_direction": 24.801,
    "architecture_energy": 54.207,
    "architecture_maturity": 9.574,
    "architecture_confidence": 74.54,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 31.94,
        "rotation_up": 67.45,
        "upward_expansion": 53.45,
        "deceleration": 18.39,
        "rotation_down": 14.44,
        "downward_expansion": 26.12
      },
      "activity_lines": [
        22.363333,
        21.738582,
        21.254974,
        21.258795
      ],
      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 22.24,
    "trend_reference": 21.28885,
    "distance_from_trend": 0.044678,
    "trend_direction": "Weakening",
    "fair_value": 20.591464,
    "distance_from_fair_value": 0.080059,
    "fair_value_direction": "Improving",
    "relative_strength": 2.649213,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.012751,
    "excess_performance": 0.055954,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.044678,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.008735,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.080059,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.037204,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.026492,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.170478,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.012751,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.704334,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 42697980,
      "relative_activity": 1.256726,
      "balance": 1.704334,
      "dry_up": 1.713663,
      "accumulation_observations": 4,
      "distribution_observations": 2
    },
    "risk": {
      "range_context": 0.050517,
      "annualized_volatility": 0.226127,
      "from_high_reference": -0.101414,
      "from_low_reference": 0.168681
    },
    "levels": {
      "trend_reference": 21.28885,
      "fair_value_reference": 20.591464,
      "structural_low": 19.030001,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 3,
        "median_return": -0.003373,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.006204,
        "regime_survival": 0.333333,
        "best_return": 0.039895,
        "worst_return": -0.140083,
        "sufficient": false
      },
      {
        "horizon": "Intermediate",
        "sample_count": 2,
        "median_return": -0.035464,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.067661,
        "regime_survival": 0.0,
        "best_return": 0.04023,
        "worst_return": -0.111157,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 2,
        "median_return": 5.2e-05,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.098674,
        "regime_survival": 0.5,
        "best_return": 0.094319,
        "worst_return": -0.094215,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 1,
        "median_return": -0.008782,
        "positive_rate": 0.0,
        "directional_follow_through": 0.0,
        "median_excess_return": -0.205955,
        "regime_survival": 0.0,
        "best_return": -0.008782,
        "worst_return": -0.008782,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-09-13",
        "end": "2024-10-04",
        "tenure": "New",
        "return": 0.320192,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "tenure": "New",
        "return": 0.006822,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
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        "tenure": "New",
        "return": -0.108678,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
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        "end": "2025-01-17",
        "tenure": "Developing",
        "return": -0.072584,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-01-24",
        "end": "2025-04-11",
        "tenure": "Developing",
        "return": 0.052069,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "tenure": "Developing",
        "return": 0.039895,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-23",
        "end": "2025-09-12",
        "tenure": "Established",
        "return": 0.006261,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "tenure": "New",
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        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
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        "return": 0.009692,
        "active": false
      },
      {
        "regime": "balance",
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        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
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        "end": "2026-03-06",
        "tenure": "Established",
        "return": -0.02449,
        "active": false
      },
      {
        "regime": "balance",
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      },
      {
        "regime": "downward_expansion",
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      {
        "regime": "rotation_up",
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        "active": true
      }
    ],
    "chart_path": [
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      },
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        "date": "2026-07-17",
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        "gate": "mixed",
        "direction": 29.169161,
        "energy": 23.384022,
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 33322363.8,
        "trend": 21.17085,
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        "relative_strength": 3.961743,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "mixed",
        "direction": 21.807981,
        "energy": 31.201169,
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      },
      {
        "date": "2026-07-31",
        "close": 23.0,
        "volume": 51640922,
        "typical_volume": 34090524.15,
        "trend": 21.23785,
        "fair_value": 20.539161,
        "relative_strength": 8.78283,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 40.312901,
        "energy": 58.042071,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 22.24,
        "volume": 42697980,
        "typical_volume": 33975566.1,
        "trend": 21.28885,
        "fair_value": 20.591464,
        "relative_strength": 2.649213,
        "stage": 2,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 24.800603,
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      }
    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}