Weekly structural research · SHH · Consumer Defensive

603630 Stage Analysis

Lafang China Co.,Ltd

Week ending 2 Oct 2026Close CNY 15.35Tenure DevelopingBenchmark 000001.SS

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Balance · Balance after decline

Directional pressure has compressed into balance.

Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base.

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

Direction 0−100 bearish to +100 bullish

Energy 5/100directional strength

Maturity 22/100lifecycle context

Confidence 47/100evidence agreement

Trend gate Downstructural direction

Activity structure Compressedcontracting separation

Price acceptance +0.0%position within the Activity structure

Fair Value context -2.8%CNY 15.79 · 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
2026-10-02	15.35	14.75	-9.21	35808793	Balance	0	5
2026-09-25	14.16	14.84	-18.07	23416156	Balance	-34	23
2026-09-18	13.59	15.02	-22.82	17075422	Balance	-41	27
2026-09-11	13.49	15.22	-24.13	28841386	Balance	-43	24
2026-09-04	14.61	15.46	-20.17	37490612	Balance	-13	10
2026-08-28	14.26	15.61	-23.35	6464904	Balance	-15	14
2026-08-21	14.41	15.92	-22.50	6588205	Downward Expansion	-14	19
2026-08-14	14.94	16.22	-20.93	6770310	Downward Expansion	-26	20
2026-08-07	14.92	16.41	-22.23	6299900	Downward Expansion	-33	23
2026-07-31	14.84	16.56	-21.23	17749903	Downward Expansion	-41	29
2026-07-24	13.12	16.73	-30.78	9271076	Downward Expansion	-55	42
2026-07-17	14.37	16.98	-23.82	13425910	Downward Expansion	-51	47
2026-07-10	13.39	17.17	-33.66	4417800	Downward Expansion	-65	64
2026-07-03	14.06	17.40	-31.85	8183315	Downward Expansion	-67	67
2026-06-26	12.44	17.63	-40.16	6740499	Downward Expansion	-83	93
2026-06-19	12.90	17.92	-39.71	13042130	Downward Expansion	-82	93
2026-06-12	13.23	18.25	-38.14	4211906	Downward Expansion	-82	93
2026-06-05	13.59	18.55	-37.19	3990990	Downward Expansion	-84	93
2026-05-29	14.17	18.85	-36.09	19557746	Downward Expansion	-80	88
2026-05-22	14.57	19.14	-36.06	12724290	Downward Expansion	-80	77
2026-05-15	15.46	19.44	-33.25	19469560	Downward Expansion	-62	54
2026-05-08	16.65	19.72	-29.28	10436650	Downward Expansion	-47	43
2026-05-01	16.62	19.95	-28.71	23827660	Downward Expansion	-49	44
2026-04-24	16.50	20.20	-29.05	14424125	Downward Expansion	-62	54
2026-04-17	16.33	20.49	-29.58	12209620	Downward Expansion	-64	58
2026-04-10	16.02	20.88	-30.09	10606109	Downward Expansion	-66	77
2026-04-03	15.57	21.33	-30.49	14340284	Downward Expansion	-75	84
2026-03-27	15.87	21.63	-29.80	20239195	Downward Expansion	-78	85
2026-03-20	16.01	21.92	-29.99	13593340	Downward Expansion	-83	85
2026-03-13	17.04	22.16	-28.06	14176259	Downward Expansion	-80	79
2026-03-06	17.93	22.42	-24.81	20103707	Downward Expansion	-73	69
2026-02-27	19.58	22.56	-18.52	13536660	Downward Expansion	-60	55
2026-02-13	19.69	22.70	-16.14	16183770	Downward Expansion	-56	30
2026-02-06	20.62	22.71	-11.52	27624170	Downward Expansion	-35	20
2026-01-30	19.21	22.71	-18.24	33018290	Downward Expansion	-49	27
2026-01-23	23.64	22.77	0.50	29342860	Downward Expansion	-11	15
2026-01-16	23.35	22.73	0.77	60728599	Downward Expansion	-26	21
2026-01-09	20.52	22.70	-11.23	19913219	Downward Expansion	-60	48
2026-01-02	19.36	22.81	-12.66	9631870	Downward Expansion	-72	70
2025-12-26	20.06	22.92	-9.04	11706520	Downward Expansion	-67	72
2025-12-19	20.61	23.08	-4.36	18100040	Downward Expansion	-62	70
2025-12-12	20.14	23.31	-6.07	13685160	Downward Expansion	-69	71
2025-12-05	20.29	23.39	-5.31	10803370	Rotation Down	-69	63
2025-11-28	20.95	23.31	-1.46	19400890	Rotation Down	-36	43
2025-11-21	21.07	23.26	0.86	48365970	Balance	-28	35
2025-11-14	22.91	23.18	6.06	25255280	Balance	-15	24
2025-11-07	22.15	22.99	3.14	23206010	Balance	-20	20
2025-10-31	22.74	22.82	7.71	18150566	Balance	4	13
2025-10-24	22.74	22.65	8.65	21402690	Balance	14	17
2025-10-17	23.53	22.36	16.50	36236340	Balance	24	19
2025-10-10	23.80	22.05	17.35	12639730	Upward Expansion	31	21
2025-10-03	23.74	21.75	18.72	5900032	Upward Expansion	40	23
2025-09-26	24.10	21.41	23.52	22460968	Upward Expansion	58	43
2025-09-19	25.07	21.04	30.21	33708030	Upward Expansion	60	59
2025-09-12	27.99	20.61	45.23	43545949	Upward Expansion	71	73
2025-09-05	29.73	20.10	58.97	90751542	Upward Expansion	84	75
2025-08-29	24.52	19.51	31.86	58712823	Upward Expansion	61	57
2025-08-22	24.55	19.10	34.71	43157220	Upward Expansion	61	52
2025-08-15	23.29	18.69	33.96	45158255	Upward Expansion	52	36
2025-08-08	24.72	18.31	46.25	40846385	Deceleration	61	35
2025-08-01	22.22	17.87	36.10	37255988	Deceleration	37	20
2025-07-25	23.77	17.53	45.95	59766437	Deceleration	45	21
2025-07-18	19.94	17.17	26.23	23425997	Deceleration	31	21
2025-07-11	20.54	16.95	32.24	22563715	Deceleration	35	21
2025-07-04	21.00	16.72	38.12	37609380	Deceleration	41	28
2025-06-27	22.47	16.47	51.61	36056570	Upward Expansion	45	35
2025-06-20	22.39	16.20	56.07	59825750	Upward Expansion	59	48
2025-06-13	23.78	15.86	67.27	72035838	Upward Expansion	63	59
2025-06-06	22.84	15.47	62.77	69794811	Upward Expansion	65	71
2025-05-30	24.84	15.14	81.72	74182762	Upward Expansion	75	71
2025-05-23	27.47	14.72	104.30	108861492	Upward Expansion	93	74
2025-05-16	22.53	14.21	70.13	91558479	Upward Expansion	88	69
2025-05-09	17.91	13.81	38.12	45966781	Upward Expansion	66	59
2025-05-02	19.41	13.57	53.65	28960270	Upward Expansion	80	83
2025-04-25	18.57	13.29	47.83	66632820	Upward Expansion	82	90
2025-04-18	17.27	13.02	39.54	86594774	Upward Expansion	75	85
2025-04-11	17.20	12.75	41.86	94795712	Upward Expansion	83	87
2025-04-04	17.68	12.49	42.25	64866604	Upward Expansion	93	89
2025-03-28	14.07	12.21	13.67	15250980	Upward Expansion	61	70
2025-03-21	14.17	12.06	14.11	25928192	Upward Expansion	67	69
2025-03-14	14.64	11.90	16.09	31811897	Deceleration	75	66
2025-03-07	13.76	11.75	10.89	58004822	Deceleration	55	41
2025-02-28	12.72	11.63	4.26	21909530	Deceleration	38	21
2025-02-21	12.31	11.53	-0.77	24844140	Deceleration	29	15
2025-02-14	12.66	11.45	2.92	33533071	Deceleration	31	15
2025-02-07	12.21	11.36	0.68	7671060	Deceleration	15	11
2025-01-31	12.06	11.29	0.88	2483600	Deceleration	13	15
2025-01-24	12.14	11.23	1.00	17264260	Deceleration	23	20
2025-01-17	11.90	11.17	-1.29	17595100	Deceleration	27	21
2025-01-10	11.61	11.13	-2.23	39156291	Deceleration	30	20
2025-01-03	12.18	11.11	0.43	73686088	Upward Expansion	43	28
2024-12-27	12.81	11.06	-0.86	35998326	Upward Expansion	58	44
2024-12-20	13.25	11.04	2.79	22553173	Upward Expansion	61	53
2024-12-13	13.61	11.00	4.20	29652592	Upward Expansion	66	60
2024-12-06	13.63	10.96	3.42	44227311	Upward Expansion	70	64
2024-11-29	14.43	10.92	11.30	43486195	Rotation Up	87	79
2024-11-22	12.12	10.84	-5.19	11876604	Rotation Up	36	58
2024-11-15	12.07	10.82	-8.01	15531740	Rotation Up	39	68
2024-11-08	13.08	10.78	-4.50	23492481	Rotation Up	59	75
2024-11-01	11.98	10.75	-8.15	24099926	Rotation Up	39	61
2024-10-25	12.40	10.76	-6.24	44690403	Rotation Up	49	49
2024-10-18	10.59	10.75	-19.41	11905990	Downward Expansion	-2	24
2024-10-11	10.52	10.81	-19.39	19451726	Downward Expansion	-7	19
2024-10-04	11.16	10.86	-18.07	7413859	Downward Expansion	-8	13
2024-09-27	10.38	10.86	-18.20	8857413	Downward Expansion	-47	38
2024-09-20	9.30	10.89	-17.78	3799360	Downward Expansion	-66	70
2024-09-13	9.14	10.97	-18.62	5580454	Downward Expansion	-75	79
2024-09-06	9.34	11.01	-19.26	5936746	Downward Expansion	-71	59
2024-08-30	9.70	11.06	-19.02	6642584	Downward Expansion	-61	48
2024-08-23	9.32	11.19	-23.09	10800641	Downward Expansion	-76	55
2024-08-16	10.19	11.35	-17.17	9831226	Downward Expansion	-60	49
2024-08-09	9.98	11.51	-18.79	7158552	Downward Expansion	-64	66
2024-08-02	9.93	11.67	-20.91	7200160	Downward Expansion	-65	68
2024-07-26	9.70	11.84	-22.87	6386850	Downward Expansion	-77	81
2024-07-19	9.93	12.01	-23.94	7064010	Downward Expansion	-75	79
2024-07-12	10.28	12.20	-21.50	8023580	Downward Expansion	-68	74
2024-07-05	10.09	12.36	-22.84	6622071	Downward Expansion	-76	80
2024-06-28	10.42	12.56	-21.27	9239216	Downward Expansion	-73	78
2024-06-21	10.72	12.73	-20.27	7968380	Downward Expansion	-69	71
2024-06-14	10.95	12.89	-19.81	7297070	Downward Expansion	-65	55
2024-06-07	10.90	13.04	-20.98	12726919	Balance	-65	35
2024-05-31	11.99	13.16	-14.45	6439110	Balance	-20	14
2024-05-24	11.99	13.24	-14.73	12169395	Balance	-22	15
2024-05-17	12.45	13.32	-13.54	8660883	Downward Expansion	-24	14
2024-05-10	12.53	13.38	-13.18	15478869	Downward Expansion	-48	30
2024-05-03	11.99	13.46	-15.57	4276900	Downward Expansion	-51	35
2024-04-26	11.57	13.55	-18.12	10782041	Downward Expansion	-53	35
2024-04-19	10.94	13.64	-22.09	15659910	Downward Expansion	-63	36
2024-04-12	12.01	13.74	-13.39	12675079	Downward Expansion	-36	22
2024-04-05	12.36	13.84	-12.43	7553490	Downward Expansion	-37	23
2024-03-29	12.25	13.96	-12.50	15032100	Downward Expansion	-41	30
2024-03-22	12.33	14.06	-12.24	32514717	Downward Expansion	-46	38
2024-03-15	11.91	14.15	-15.50	18485596	Downward Expansion	-60	53
2024-03-08	11.31	14.27	-19.70	15626552	Downward Expansion	-64	79
2024-03-01	11.26	14.43	-19.82	19403096	Downward Expansion	-66	84
2024-02-23	11.55	14.58	-17.49	17162629	Downward Expansion	-67	85
2024-02-09	10.24	14.71	-23.45	24163265	Downward Expansion	-93	93
2024-02-02	11.05	14.88	-13.61	15484313	Downward Expansion	-92	83
2024-01-26	13.46	15.03	-1.41	15824269	Balance	-74	59
2024-01-19	14.06	15.09	5.88	16308462	Balance	-65	37
2024-01-12	14.96	15.15	10.94	23662170	Balance	-18	15
2024-01-05	15.01	15.14	9.64	7403386	Balance	-13	11
2023-12-29	14.86	15.13	7.09	10173720	Balance	-14	11
2023-12-22	15.01	15.12	10.68	8873810	Rotation Up	9	12
2023-12-15	15.55	15.12	14.02	10465916	Rotation Up	18	34
2023-12-08	15.14	15.09	10.42	18769756	Rotation Up	18	36
2023-12-01	16.08	15.07	15.24	15422043	Balance	39	44
2023-11-24	15.57	14.98	11.59	12996138	Balance	25	23
2023-11-17	15.55	14.90	11.27	21165990	Balance	13	13
2023-11-10	15.23	14.83	9.82	33606875	Balance	1	3
2023-11-03	14.69	14.78	6.52	11318540	Balance	-22	17
2023-10-27	14.38	14.76	4.93	15020050	Rotation Down	-26	20
2023-10-20	14.33	14.75	5.96	13080948	Rotation Down	-19	17
2023-10-13	14.34	14.74	2.63	10353670	Rotation Down	-19	34
2023-09-29	14.69	14.73	4.67	14364681	Deceleration	-14	30
2023-09-22	14.81	14.73	5.05	42393510	Deceleration	-12	23

Price vs TrendAbove+4.1%

Trend directionFalling-11.8%

Price vs current Fair ValueBelow anchor-2.8%

Fair Value directionClosing upward+8.6%

Relative Strength vs benchmarkLagging-9.2%

Relative strength directionImproving+22.6%

Price momentumNegative-1.4%

Volume balanceDemand-led2.84×

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

0 / ±100

+12.9 points since 2026-09-04

Energy

5 /100

-4.5 points since 2026-09-04

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

603630 Directional State ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance67

Rotation Up21

Upward Expansion18

Deceleration61

Rotation Down33

Downward Expansion58

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

2023-09-22 to 2026-10-02 · 156 classified observations out of 156 shown.

Balance 16%Rotation Up 6%Upward Expansion 19%Deceleration 12%Rotation Down 3%Downward Expansion 45%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Balance	2026-08-28	2026-10-02	Developing	+7.6%
Downward Expansion	2025-12-12	2026-08-21	Extended	-28.5%
Rotation Down	2025-11-28	2025-12-05	New	-3.2%
Balance	2025-10-17	2025-11-21	Developing	-10.5%
Upward Expansion	2025-08-15	2025-10-10	Developing	+2.2%
Deceleration	2025-07-04	2025-08-08	Developing	+17.7%
Upward Expansion	2025-03-21	2025-06-27	Established	+58.6%
Deceleration	2025-01-10	2025-03-14	Developing	+26.1%
Upward Expansion	2024-12-06	2025-01-03	Developing	-10.7%
Rotation Up	2024-10-25	2024-11-29	Developing	+16.4%
Downward Expansion	2024-06-14	2024-10-18	Established	-3.3%
Balance	2024-05-24	2024-06-07	New	-9.1%
Downward Expansion	2024-02-02	2024-05-17	Established	+12.7%
Balance	2023-12-29	2024-01-26	Developing	-9.4%

Classic Stage Analysis comparison

Stage 1 · Basing61

Stage 2 · Advancing29

Stage 3 · Distribution19

Stage 4 · Declining71

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: 16/100
Current Relative Strength: -9.21
Relative Strength direction: Improving
Price momentum: -1.4%
Excess performance vs benchmark: -0.4%
Consumer Defensive regime cohort: 4th percentile25 in cohort

Test 603630 trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume2.54×

Latest completed volume relative to typical participation.

Up/down volume2.84×

Participation balance between advancing and declining observations.

Accumulation / distribution5 / 1

Recent participation evidence classified by demand and supply.

Activity alignment+50.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationStable

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 603630 Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity CNY 14.38falling

Slow Activity CNY 14.35falling

Trend Reference CNY 14.75+4.1% close margin

Current Fair Value CNY 15.79-2.8% close margin

Structural low CNY 12.37shock / repair context

What changes the read?

Persistent fast/slow separation and fan expansion would end Balance; direction determines whether it becomes Rotation Up or Rotation Down.

Range context +7.6%

Annualized volatility +39.5%

From structural high -41.6%

From structural low +24.1%

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	16	-3.5%-16.3% to +9.5%	+25.0%	+25.0%	-3.9%	+43.8%	Usable descriptive sample
Intermediate	8	-4.4%-22.3% to +11.0%	+37.5%	+37.5%	-5.2%	+12.5%	Usable descriptive sample
Extended	6	-9.1%-29.9% to +7.3%	+50.0%	+50.0%	-7.4%	+50.0%	Usable descriptive sample
Full cycle	3	-22.0%-36.1% to +13.6%	+33.3%	+33.3%	-19.8%	+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.

603630 Stage Analysis

What the Activity Line geometry says now

Directional pressure has compressed into balance.

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

Directional pressure has compressed into balance.

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