Weekly structural research · SHH · Utilities

600167 Stage Analysis

Luenmei Quantum Co.,Ltd

Week ending 9 Oct 2026Close CNY 6.05Tenure ExtendedBenchmark 000001.SS

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Downward Expansion · Established contraction

The weekly architecture is expanding downward.

Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation.

The Trend gate is down within the current regime.
Fast Activity versus Slow Activity: improving.
Activity structure: compressed and contracting.

Direction -9−100 bearish to +100 bullish

Energy 14/100directional strength

Maturity 88/100lifecycle context

Confidence 48/100evidence agreement

Trend gate Downstructural direction

Activity structure Compressedcontracting separation

Price acceptance -33.3%position within the Activity structure

Fair Value context +1.1%CNY 5.98 · improving

Trend Architecture map · Historical context

Weekly close, Activity, Trend and Fair Value

Follow price and Trend first, then add Activity Lines to inspect the structure. Subtle bands show the regime recognized at each completed observation; the dashed line marks current Fair Value, not a historical forecast.

CloseTrendCurrent Fair Value

Background stage key

BalanceDirection is contained.
Rotation UpStructure is turning higher.
Upward ExpansionUptrend is established.
DecelerationUptrend is losing energy.
Rotation DownStructure is turning lower.
Downward ExpansionDowntrend is established.

View chart values · 156 observations

Week	Close	Trend	Relative Strength	Volume	Regime	Direction	Energy
2026-10-09	6.05	6.10	-7.22	32325930	Downward Expansion	-9	14
2026-10-02	5.65	6.12	-14.71	16066902	Downward Expansion	-54	37
2026-09-25	5.51	6.17	-18.72	20022375	Downward Expansion	-67	38
2026-09-18	5.71	6.22	-16.71	33261265	Downward Expansion	-42	24
2026-09-11	5.85	6.25	-14.38	42040238	Downward Expansion	-40	26
2026-09-04	5.80	6.29	-16.25	8664527	Downward Expansion	-43	32
2026-08-28	5.74	6.33	-17.84	6673227	Downward Expansion	-44	34
2026-08-21	5.60	6.39	-19.09	4731100	Downward Expansion	-49	36
2026-08-14	5.63	6.45	-19.39	7582840	Downward Expansion	-47	35
2026-08-07	5.78	6.50	-17.75	8565423	Downward Expansion	-44	35
2026-07-31	5.85	6.55	-14.62	8479640	Downward Expansion	-48	42
2026-07-24	5.66	6.59	-17.15	8077388	Downward Expansion	-62	55
2026-07-17	5.67	6.64	-16.07	11632977	Downward Expansion	-65	78
2026-07-10	5.47	6.70	-23.97	8970160	Downward Expansion	-70	86
2026-07-03	5.66	6.79	-22.48	10927700	Downward Expansion	-66	84
2026-06-26	5.21	6.88	-28.51	7432130	Downward Expansion	-87	90
2026-06-19	5.68	7.00	-23.62	41465506	Downward Expansion	-78	72
2026-06-12	5.95	7.12	-19.09	11623502	Downward Expansion	-73	51
2026-06-05	6.40	7.19	-13.09	19830390	Downward Expansion	-60	33
2026-05-29	6.80	7.27	-8.71	60735368	Downward Expansion	-33	17
2026-05-22	6.73	7.34	-10.68	60370149	Downward Expansion	-37	22
2026-05-15	6.66	7.40	-12.18	73858949	Downward Expansion	-44	27
2026-05-08	6.92	7.49	-9.84	34323921	Downward Expansion	-52	34
2026-05-01	6.67	7.56	-11.74	41139355	Downward Expansion	-57	43
2026-04-24	6.67	7.66	-11.11	65893296	Downward Expansion	-60	47
2026-04-17	6.59	7.68	-11.56	42475923	Downward Expansion	-64	48
2026-04-10	6.50	7.68	-11.36	40143120	Downward Expansion	-72	50
2026-04-03	6.50	7.68	-9.00	101681636	Downward Expansion	-75	50
2026-03-27	7.31	7.69	1.51	188390135	Downward Expansion	-49	39
2026-03-20	6.80	7.66	-6.40	85228626	Downward Expansion	-67	76
2026-03-13	6.76	7.65	-10.00	75298530	Downward Expansion	-71	77
2026-03-06	6.87	7.64	-9.13	67560435	Downward Expansion	-65	70
2026-02-27	7.10	7.61	-7.02	36897323	Downward Expansion	-33	54
2026-02-13	6.80	7.57	-9.03	33819486	Deceleration	-40	48
2026-02-06	6.90	7.55	-7.25	45069803	Deceleration	-38	31
2026-01-30	7.03	7.52	-6.64	91585147	Deceleration	-26	23
2026-01-23	7.52	7.49	-0.52	90104502	Rotation Down	-18	23
2026-01-16	7.30	7.42	-2.42	94238048	Rotation Down	-22	47
2026-01-09	7.36	7.36	-1.89	78056531	Rotation Down	-23	51
2026-01-02	7.03	7.31	-2.53	35765677	Deceleration	-29	49
2025-12-26	7.15	7.27	-0.61	56760047	Deceleration	-5	24
2025-12-19	7.13	7.22	1.12	70867234	Deceleration	-0	14
2025-12-12	7.43	7.18	5.55	172869630	Deceleration	23	15
2025-12-05	8.26	7.12	17.18	217266647	Deceleration	40	26
2025-11-28	8.30	7.04	18.67	156681685	Upward Expansion	44	30
2025-11-21	8.98	6.95	30.60	304012605	Upward Expansion	50	37
2025-11-14	9.14	6.84	28.53	131167137	Upward Expansion	58	43
2025-11-07	8.04	6.71	13.61	121797132	Upward Expansion	58	43
2025-10-31	8.80	6.63	26.16	186315857	Upward Expansion	64	57
2025-10-24	9.09	6.52	31.23	187226233	Upward Expansion	69	69
2025-10-17	8.48	6.40	26.78	232062183	Upward Expansion	66	86
2025-10-10	9.35	6.30	38.57	156453608	Upward Expansion	83	93
2025-10-03	9.05	6.18	35.71	187951779	Upward Expansion	88	92
2025-09-26	9.50	6.05	45.55	252008460	Upward Expansion	96	86
2025-09-19	7.22	5.93	11.84	125630374	Upward Expansion	83	67
2025-09-12	6.61	5.86	1.17	48292697	Upward Expansion	65	64
2025-09-05	6.70	5.82	4.03	75519124	Upward Expansion	72	78
2025-08-29	6.79	5.78	4.22	91083847	Upward Expansion	84	82
2025-08-22	6.46	5.73	-0.03	62717706	Upward Expansion	74	68
2025-08-15	6.49	5.69	3.79	80438305	Upward Expansion	82	73
2025-08-08	6.20	5.65	0.69	61506730	Upward Expansion	72	67
2025-08-01	6.02	5.61	-0.34	35368188	Upward Expansion	61	70
2025-07-25	6.08	5.59	-0.39	28110111	Upward Expansion	66	72
2025-07-18	6.04	5.57	0.55	36273620	Upward Expansion	65	63
2025-07-11	6.06	5.56	1.71	61011741	Upward Expansion	67	47
2025-07-04	5.98	5.56	1.57	49043797	Upward Expansion	61	29
2025-06-27	5.63	5.55	-2.93	22665985	Upward Expansion	31	16
2025-06-20	5.56	5.57	-2.25	28978289	Upward Expansion	32	17
2025-06-13	5.74	5.58	0.42	31443463	Upward Expansion	52	37
2025-06-06	5.76	5.57	0.56	16471907	Rotation Up	56	54
2025-05-30	5.75	5.57	1.51	17132169	Rotation Up	32	50
2025-05-23	5.78	5.57	2.09	17866335	Rotation Up	29	45
2025-05-16	5.84	5.56	2.42	31896089	Balance	32	43
2025-05-09	5.81	5.55	2.60	31404649	Balance	23	27
2025-05-02	5.67	5.53	1.83	22295372	Balance	13	7
2025-04-25	5.59	5.53	-0.04	19117734	Balance	-18	8
2025-04-18	5.35	5.52	-3.91	16363928	Balance	-35	16
2025-04-11	5.36	5.50	-2.75	36758788	Balance	-21	11
2025-04-04	5.66	5.48	-0.67	20780320	Balance	29	20
2025-03-28	5.48	5.45	-4.17	21424622	Balance	33	18
2025-03-21	5.57	5.44	-2.95	42467861	Balance	29	22
2025-03-14	5.51	5.43	-5.53	33563630	Balance	4	8
2025-03-07	5.44	5.42	-5.72	76799625	Balance	-3	6
2025-02-28	5.72	5.42	0.55	108648823	Deceleration	22	14
2025-02-21	5.23	5.40	-9.58	14178101	Deceleration	-23	19
2025-02-14	5.33	5.40	-7.24	12238260	Deceleration	-16	17
2025-02-07	5.40	5.38	-5.22	8626361	Rotation Down	-18	28
2025-01-31	5.36	5.36	-4.47	3919624	Rotation Down	-21	43
2025-01-24	5.28	5.34	-6.08	13458408	Deceleration	-22	39
2025-01-17	5.22	5.32	-6.96	11618057	Deceleration	-25	35
2025-01-10	5.12	5.31	-6.99	12276143	Deceleration	-4	21
2025-01-03	5.29	5.30	-5.36	13039450	Deceleration	18	16
2024-12-27	5.69	5.30	-4.02	14105104	Upward Expansion	43	29
2024-12-20	5.74	5.29	-2.27	20706222	Upward Expansion	56	43
2024-12-13	5.81	5.29	-1.96	27312782	Upward Expansion	60	58
2024-12-06	5.88	5.29	-1.28	59048816	Upward Expansion	62	62
2024-11-29	6.12	5.29	5.18	52373179	Upward Expansion	82	76
2024-11-22	5.79	5.26	1.37	26855322	Upward Expansion	70	61
2024-11-15	5.59	5.25	-3.98	22453929	Rotation Up	62	60
2024-11-08	5.76	5.25	-4.62	30983191	Rotation Up	48	60
2024-11-01	5.55	5.24	-3.11	24757970	Rotation Up	37	54
2024-10-25	5.62	5.22	-2.87	25660564	Rotation Up	44	58
2024-10-18	5.41	5.21	-5.42	26182133	Rotation Up	22	32
2024-10-11	5.38	5.20	-4.71	44293648	Balance	19	25
2024-10-04	5.60	5.20	-4.50	14673798	Balance	30	23
2024-09-27	5.25	5.19	-3.36	19470140	Downward Expansion	-27	34
2024-09-20	4.89	5.19	1.43	9329701	Downward Expansion	-55	59
2024-09-13	4.81	5.21	0.92	32005038	Balance	-62	47
2024-09-06	4.79	5.23	-1.73	32542556	Balance	-60	26
2024-08-30	5.03	5.23	0.29	17142236	Balance	-28	22
2024-08-23	5.18	5.24	2.51	17691042	Downward Expansion	0	19
2024-08-16	5.43	5.23	6.58	16066479	Downward Expansion	13	24
2024-08-09	5.32	5.23	4.97	22990061	Downward Expansion	-21	18
2024-08-02	5.16	5.23	0.25	20252270	Downward Expansion	-43	27
2024-07-26	5.04	5.23	-1.63	27696837	Downward Expansion	-58	42
2024-07-19	4.77	5.24	-9.90	21787213	Downward Expansion	-66	69
2024-07-12	4.83	5.26	-8.60	32685917	Downward Expansion	-65	75
2024-07-05	4.82	5.28	-8.57	30541803	Downward Expansion	-66	76
2024-06-28	4.74	5.30	-10.70	47759183	Balance	-75	73
2024-06-21	4.75	5.32	-11.65	56636509	Balance	-39	40
2024-06-14	5.00	5.34	-8.42	39637227	Balance	-17	19
2024-06-07	5.25	5.35	-4.61	51066461	Upward Expansion	24	14
2024-05-31	5.49	5.35	-1.71	53381904	Upward Expansion	55	56
2024-05-24	5.62	5.35	0.36	43032474	Upward Expansion	57	59
2024-05-17	5.71	5.34	-0.21	64587790	Upward Expansion	64	62
2024-05-10	5.85	5.33	2.41	66885107	Balance	66	54
2024-05-03	5.36	5.31	-4.46	26326412	Balance	16	19
2024-04-26	5.48	5.32	-1.69	31104763	Balance	18	19
2024-04-19	5.46	5.33	-1.08	52008956	Balance	8	9
2024-04-12	5.44	5.33	0.11	53550119	Balance	-21	10
2024-04-05	5.22	5.33	-5.35	16563918	Balance	-31	14
2024-03-29	5.18	5.36	-5.12	24023284	Balance	-41	17
2024-03-22	5.16	5.39	-5.70	30405958	Balance	-30	12
2024-03-15	5.38	5.41	-1.97	40872582	Balance	-12	8
2024-03-08	5.27	5.44	-3.69	51888250	Balance	-24	15
2024-03-01	5.37	5.47	-1.28	65768337	Downward Expansion	-27	12
2024-02-23	5.29	5.50	-2.09	47740482	Downward Expansion	-32	16
2024-02-09	5.57	5.52	8.08	64421235	Downward Expansion	-33	22
2024-02-02	4.73	5.53	-3.42	34075783	Downward Expansion	-78	50
2024-01-26	5.31	5.58	1.56	37327241	Downward Expansion	-50	29
2024-01-19	5.02	5.60	-1.31	22370685	Downward Expansion	-74	46
2024-01-12	5.35	5.63	3.46	20602437	Downward Expansion	-54	36
2024-01-05	5.40	5.65	2.72	27189978	Downward Expansion	-56	41
2023-12-29	5.16	5.68	-3.31	18718293	Downward Expansion	-70	64
2023-12-22	5.18	5.72	-1.08	27217895	Downward Expansion	-70	53
2023-12-15	5.34	5.75	1.05	39559464	Downward Expansion	-55	37
2023-12-08	5.33	5.78	-0.30	20211148	Downward Expansion	-49	35
2023-12-01	5.42	5.80	-0.78	18985516	Downward Expansion	-41	30
2023-11-24	5.39	5.80	-1.72	18601978	Downward Expansion	-53	37
2023-11-17	5.41	5.79	-1.91	18867240	Downward Expansion	-56	42
2023-11-10	5.35	5.79	-2.50	21975351	Downward Expansion	-60	52
2023-11-03	5.37	5.79	-2.00	20892262	Downward Expansion	-62	65
2023-10-27	5.37	5.79	-1.68	22061761	Downward Expansion	-63	69
2023-10-20	5.21	5.80	-3.75	21513015	Rotation Down	-80	77
2023-10-13	5.36	5.81	-4.58	20286923	Rotation Down	-47	58
2023-09-29	5.54	5.82	-2.37	12036276	Rotation Down	-37	58

Price vs TrendBelow-0.8%

Trend directionFalling-6.8%

Price vs current Fair ValuePremium+1.1%

Fair Value directionClosing upward+10.0%

Relative Strength vs benchmarkLagging-7.2%

Relative strength directionImproving+16.8%

Price momentumNegative-6.9%

Volume balanceDemand-led1.53×

Beyond the current label

Is the structure strengthening or losing force?

Direction and energy measure different things

Direction shows the upward or downward lean. Energy shows the force behind the structural move: high energy can accompany a strong decline as well as an advance.

Direction

-9 / ±100

+30.4 points since 2026-09-11

Energy

14 /100

-12.2 points since 2026-09-11

Recent change compares the latest reading with four observations earlier. Missing readings remain unavailable. Use the chart values above to inspect individual observations.

600167 Directional State ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance56

Rotation Up26

Upward Expansion27

Deceleration46

Rotation Down31

Downward Expansion53

The winning regime is the state most consistent with the complete SM evidence set. Direction, energy, maturity and confidence describe different aspects of the current structure, while contradictory evidence remains visible rather than being averaged into false certainty.

Time spent in each state

The context behind today’s regime

2023-09-29 to 2026-10-09 · 156 classified observations out of 156 shown.

Balance 19%Rotation Up 5%Upward Expansion 22%Deceleration 10%Rotation Down 5%Downward Expansion 39%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Downward Expansion	2026-02-27	2026-10-09	Extended	-14.8%
Deceleration	2026-01-30	2026-02-13	New	-3.3%
Rotation Down	2026-01-09	2026-01-23	New	+2.2%
Deceleration	2025-12-05	2026-01-02	Developing	-14.9%
Upward Expansion	2025-06-13	2025-11-28	Established	+44.7%
Rotation Up	2025-05-23	2025-06-06	New	-0.5%
Balance	2025-03-07	2025-05-16	Developing	+7.5%
Deceleration	2025-02-14	2025-02-28	New	+7.2%
Rotation Down	2025-01-31	2025-02-07	New	+0.7%
Deceleration	2025-01-03	2025-01-24	New	-0.2%
Upward Expansion	2024-11-22	2024-12-27	Developing	-1.8%
Rotation Up	2024-10-18	2024-11-15	Developing	+3.3%
Balance	2024-10-04	2024-10-11	New	-3.9%
Downward Expansion	2024-09-20	2024-09-27	New	+7.4%

Classic Stage Analysis comparison

Stage 1 · Basing70

Stage 2 · Advancing15

Stage 3 · Distribution23

Stage 4 · Declining85

Legacy result: Stage 4 · Stage 4C · Repair watch. It remains visible while the experimental architecture is validated rather than being silently discarded.

Leadership versus 000001.SS

Is relative performance confirming the geometry?

Confirmation, not classification

Relative Strength

The security is compared with its market benchmark on the SM scale. Above zero indicates relative leadership; direction shows whether that leadership is improving or weakening.

Confirmation evidence

Lagging benchmark

Architecture confirmation: 34/100
Current Relative Strength: -7.22
Relative Strength direction: Improving
Price momentum: -6.9%
Excess performance vs benchmark: -2.6%
Utilities regime cohort: 9th percentile43 in cohort

Test 600167 trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume1.75×

Latest completed volume relative to typical participation.

Up/down volume1.53×

Participation balance between advancing and declining observations.

Accumulation / distribution2 / 2

Recent participation evidence classified by demand and supply.

Activity alignment+50.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationImproving

Current relationship between Fast Activity and Slow Activity.

Structure stability+37.5%

Whether recent Activity evidence is stable or remains in balance.

Weekly volume with architecture context

Bars show completed weekly volume; the dashed line provides typical-volume context. Both measures use the same scale.

Explore 600167 Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity CNY 5.78rising

Slow Activity CNY 5.87falling

Trend Reference CNY 6.10-0.8% close margin

Current Fair Value CNY 5.98+1.1% close margin

Structural low CNY 5.20shock / repair context

What changes the read?

Fan contraction and a persistent upward fast/slow rotation are required before the declining structure is considered repaired.

Range context +4.0%

Annualized volatility +28.6%

From structural high -37.6%

From structural low +16.2%

Point-in-time evidence

What followed this architecture in this market?

Descriptive history, never a forecast

Historical comparisons use only the structural read that would have been available at each completed observation. Independent observations are used where possible, with benchmark comparison beginning after each recognized state.

Outcome horizon	Samples	Median move	Positive periods	Directional follow-through	Median excess vs 000001.SS	Regime survived	Read
Near term	31	+0.9%-15.6% to +16.6%	+54.8%	+45.2%	-0.3%	+74.2%	Usable descriptive sample
Intermediate	11	-1.2%-15.6% to +16.3%	+45.5%	+54.5%	-2.0%	+45.5%	Usable descriptive sample
Extended	6	-2.0%-19.2% to +9.9%	+33.3%	+66.7%	-3.2%	+16.7%	Usable descriptive sample
Full cycle	3	-6.3%-16.8% to +13.6%	+33.3%	+66.7%	-4.8%	+33.3%	Too little matched history

Evidence framework

What the analysis measures and where its limits lie

Trend Architecture

Trend Architecture brings Price, Fast Activity, Slow Activity and Trend into one structural read. It identifies balance, rotation, expansion, deceleration and contraction while requiring persistent evidence for confirmed regime changes.

Evidence roles

Trend, Activity, relative strength, volume and Fair Value each have a defined role in the SM evidence framework. No single reading is treated as sufficient on its own, and conflicting evidence remains visible.

Fair Value and RS

Current Fair Value provides a long-term price anchor and shows whether price is trading above, below or repairing toward that reference. Relative Strength compares the security with its benchmark and shows whether leadership is improving or weakening.

Known limitations

Weekly structure recognizes conditions after they develop. Event gaps can bypass smooth transitions, sideways markets can rotate repeatedly, and historical samples for a particular regime can be thin.

Independent market research for education. Not investment advice, a recommendation, a forecast, a target, or an execution instruction. Historical regime behaviour does not establish what happens next.

600167 Stage Analysis

What the Activity Line geometry says now

The weekly architecture is expanding downward.

Weekly close, Activity, Trend and Fair Value

Is the structure strengthening or losing force?

Direction

Energy

Why this architecture regime won

The context behind today’s regime

Is relative performance confirming the geometry?

Relative Strength

Lagging benchmark

Is demand confirming the architecture?

Weekly volume with architecture context

References that would change the structural read

What followed this architecture in this market?

What the analysis measures and where its limits lie

Trend Architecture

Evidence roles

Fair Value and RS

Known limitations

Send a message

Evidence context

What the Activity Line geometry says now

The weekly architecture is expanding downward.

Weekly close, Activity, Trend and Fair Value

Is the structure strengthening or losing force?

Direction

Energy

Why this architecture regime won

The context behind today’s regime

Is relative performance confirming the geometry?

Relative Strength ?

Lagging benchmark

Is demand confirming the architecture?

Weekly volume with architecture context

References that would change the structural read

What followed this architecture in this market?

Test the structure from another angle

Trend Persistence ↗

Directional State ↗

Similar Charts ↗

RMI Reversal Map ↗

What the analysis measures and where its limits lie

Trend Architecture

Evidence roles

Fair Value and RS

Known limitations

Relative Strength

Trend Persistence

Directional State

Similar Charts

RMI Reversal Map