Weekly structural research · SHH · Communication Services

603825 Stage Analysis

Hylink Digital Solutions Co.,Ltd

Week ending 2 Oct 2026Close CNY 7.61Tenure DevelopingBenchmark 000001.SS

Screen this regime Supporting research Report data ↗

Executive diagnosis

What the Activity Line geometry says now

Structure, not prediction

Rotation Up · Emerging rotation

The Activity Line structure is rotating upward.

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.

The Trend gate is mixed within the current regime.
Fast Activity versus Slow Activity: weakening.
Activity structure: moderate and contracting.

Direction -10−100 bearish to +100 bullish

Energy 16/100directional strength

Maturity 45/100lifecycle context

Confidence 50/100evidence agreement

Trend gate Mixedstructural direction

Activity structure Moderatecontracting separation

Price acceptance +16.7%position within the Activity structure

Fair Value context -26.4%CNY 10.34 · 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	7.61	7.93	-7.52	4423900	Rotation Up	-10	16
2026-09-25	7.81	7.98	-6.69	5030500	Rotation Up	6	13
2026-09-18	7.82	8.04	-7.64	10768300	Rotation Up	22	36
2026-09-11	8.22	8.10	-2.89	11694700	Rotation Up	27	52
2026-09-04	8.43	8.14	-1.88	13455153	Rotation Up	31	41
2026-08-28	8.48	8.17	-2.21	4589300	Downward Expansion	16	36
2026-08-21	8.16	8.21	-5.61	2218886	Downward Expansion	-6	25
2026-08-14	8.10	8.25	-7.72	2222740	Downward Expansion	-16	22
2026-08-07	7.99	8.29	-10.21	2872072	Downward Expansion	-33	27
2026-07-31	7.19	8.33	-17.88	2217880	Downward Expansion	-51	48
2026-07-24	6.83	8.39	-22.61	1382800	Downward Expansion	-64	57
2026-07-17	6.67	8.46	-24.44	2254100	Downward Expansion	-72	66
2026-07-10	6.99	8.53	-26.57	2214600	Downward Expansion	-66	84
2026-07-03	7.24	8.61	-25.89	2680900	Downward Expansion	-68	88
2026-06-26	6.34	8.69	-35.81	3817060	Downward Expansion	-89	95
2026-06-19	6.64	8.78	-34.85	16912200	Downward Expansion	-89	92
2026-06-12	6.96	8.89	-31.95	6582640	Downward Expansion	-88	81
2026-06-05	8.14	8.97	-21.60	1340900	Downward Expansion	-64	43
2026-05-29	8.16	9.02	-23.29	10390100	Downward Expansion	-53	29
2026-05-22	8.56	9.06	-21.33	10470500	Downward Expansion	-33	21
2026-05-15	8.71	9.07	-21.22	10727342	Downward Expansion	-35	22
2026-05-08	8.74	9.10	-22.58	8501000	Downward Expansion	-42	27
2026-05-01	8.77	9.13	-21.81	8781900	Downward Expansion	-58	43
2026-04-24	8.47	9.16	-24.58	11608000	Downward Expansion	-64	75
2026-04-17	8.25	9.21	-26.72	7522100	Downward Expansion	-65	77
2026-04-10	8.11	9.28	-27.50	5755920	Downward Expansion	-77	81
2026-04-03	7.94	9.34	-27.90	12449951	Downward Expansion	-85	81
2026-03-27	8.66	9.40	-22.97	13617300	Balance	-66	61
2026-03-20	8.87	9.52	-22.90	8105706	Balance	-59	43
2026-03-13	9.00	9.62	-25.29	7214740	Balance	-44	24
2026-03-06	9.10	9.72	-25.92	18119600	Balance	-37	16
2026-02-27	9.51	9.81	-24.22	9511500	Balance	-12	10
2026-02-13	9.62	9.90	-22.88	14804020	Balance	-7	12
2026-02-06	9.42	9.98	-25.39	9640040	Balance	-14	14
2026-01-30	9.48	10.10	-26.61	18131003	Downward Expansion	-25	17
2026-01-23	9.74	10.19	-25.60	19408256	Downward Expansion	-25	14
2026-01-16	9.42	10.29	-28.08	62533660	Downward Expansion	-41	28
2026-01-09	9.18	10.38	-30.81	13347952	Downward Expansion	-58	46
2026-01-02	9.06	10.52	-29.91	9443664	Downward Expansion	-60	52
2025-12-26	9.13	10.65	-30.07	13836620	Downward Expansion	-62	57
2025-12-19	8.86	10.79	-31.51	15984600	Downward Expansion	-74	72
2025-12-12	8.95	10.90	-31.59	15864400	Downward Expansion	-75	62
2025-12-05	9.37	11.00	-29.57	13702060	Downward Expansion	-50	43
2025-11-28	9.56	11.08	-28.70	25138800	Downward Expansion	-47	42
2025-11-21	9.10	11.14	-31.74	24275933	Downward Expansion	-61	46
2025-11-14	9.81	11.21	-29.86	16928224	Downward Expansion	-50	45
2025-11-07	9.54	11.26	-32.50	22574462	Downward Expansion	-63	58
2025-10-31	9.48	11.32	-32.57	21147180	Downward Expansion	-66	75
2025-10-24	9.33	11.41	-33.88	21147396	Downward Expansion	-69	82
2025-10-17	9.05	11.53	-34.35	21786777	Downward Expansion	-81	89
2025-10-10	9.43	11.68	-32.94	7653140	Downward Expansion	-76	83
2025-10-03	9.66	11.82	-31.29	7135180	Downward Expansion	-73	80
2025-09-26	9.73	11.96	-30.05	26819640	Downward Expansion	-72	83
2025-09-19	10.02	12.09	-28.04	33295735	Downward Expansion	-71	83
2025-09-12	10.31	12.26	-27.17	40679821	Downward Expansion	-69	78
2025-09-05	9.85	12.46	-29.60	56858256	Downward Expansion	-82	79
2025-08-29	9.87	12.57	-30.42	34657839	Balance	-84	71
2025-08-22	12.12	12.65	-13.96	33092153	Balance	-51	37
2025-08-15	11.83	12.66	-12.91	30946709	Balance	-53	41
2025-08-08	11.92	12.66	-10.57	18079618	Balance	-53	36
2025-08-01	12.06	12.71	-7.38	26557120	Balance	-39	23
2025-07-25	12.17	12.75	-7.19	27473680	Balance	-38	20
2025-07-18	12.09	12.79	-6.09	46036498	Balance	-37	18
2025-07-11	12.98	12.87	1.81	34757043	Balance	-17	12
2025-07-04	12.20	12.96	-2.77	21010847	Balance	-30	12
2025-06-27	12.60	13.06	2.18	28497468	Balance	-11	12
2025-06-20	12.18	13.08	0.96	54532752	Balance	-16	19
2025-06-13	13.42	13.09	11.16	66979151	Balance	-6	19
2025-06-06	13.02	13.09	8.39	33791489	Downward Expansion	-17	20
2025-05-30	13.15	13.05	11.53	83503122	Downward Expansion	-23	18
2025-05-23	12.14	12.97	3.62	36889400	Downward Expansion	-43	29
2025-05-16	11.88	12.93	1.31	21430500	Downward Expansion	-55	42
2025-05-09	11.78	12.89	1.59	21024540	Rotation Down	-58	54
2025-05-02	11.45	12.83	0.96	15158306	Rotation Down	-34	56
2025-04-25	11.31	12.80	-0.50	20259500	Rotation Down	-38	58
2025-04-18	11.30	12.74	0.26	24694700	Rotation Down	-38	52
2025-04-11	11.20	12.66	0.94	35304437	Balance	-30	33
2025-04-04	12.31	12.59	7.65	15811097	Balance	1	10
2025-03-28	12.85	12.45	12.34	30316793	Balance	22	12
2025-03-21	13.58	12.29	18.57	73389290	Upward Expansion	33	15
2025-03-14	13.71	12.10	17.66	43922283	Upward Expansion	47	26
2025-03-07	13.92	11.91	21.43	62348484	Upward Expansion	52	44
2025-02-28	13.55	11.72	20.11	93888676	Upward Expansion	52	43
2025-02-21	14.92	11.55	29.93	179085875	Upward Expansion	56	42
2025-02-14	16.58	11.35	46.26	61412020	Deceleration	69	36
2025-02-07	13.01	11.08	17.91	49215246	Deceleration	28	17
2025-01-31	12.28	10.92	13.41	12887091	Deceleration	27	19
2025-01-24	12.36	10.79	14.19	93237155	Deceleration	29	19
2025-01-17	12.00	10.69	11.27	169034909	Deceleration	34	20
2025-01-10	13.16	10.57	24.79	150358149	Upward Expansion	42	28
2025-01-03	13.46	10.39	26.16	162106235	Upward Expansion	57	43
2024-12-27	13.41	10.20	18.81	88005821	Upward Expansion	63	53
2024-12-20	14.42	10.03	28.22	131793545	Upward Expansion	65	64
2024-12-13	15.72	9.83	38.63	220689806	Upward Expansion	82	77
2024-12-06	15.19	9.61	33.30	80614311	Upward Expansion	85	81
2024-11-29	13.03	9.42	17.22	155402168	Upward Expansion	72	71
2024-11-22	12.62	9.29	15.52	177779518	Upward Expansion	71	68
2024-11-15	13.43	9.17	20.48	137609697	Upward Expansion	88	80
2024-11-08	11.75	9.01	1.78	101223332	Upward Expansion	78	71
2024-11-01	10.75	8.94	-2.00	140254738	Upward Expansion	66	64
2024-10-25	10.88	8.91	-1.84	128503955	Upward Expansion	73	77
2024-10-18	10.83	8.89	-1.32	133008446	Rotation Up	78	78
2024-10-11	9.83	8.96	-9.41	89351748	Rotation Up	35	58
2024-10-04	10.53	8.99	-6.79	40976240	Balance	42	56
2024-09-27	9.74	9.05	-7.16	134348600	Balance	10	19
2024-09-20	8.91	9.14	-4.53	80690510	Balance	-11	8
2024-09-13	8.98	9.23	-2.98	83906699	Downward Expansion	-27	14
2024-09-06	8.11	9.17	-14.70	49943100	Downward Expansion	-52	32
2024-08-30	8.02	9.22	-18.39	34170442	Downward Expansion	-54	38
2024-08-23	7.92	9.30	-20.23	61605400	Downward Expansion	-56	34
2024-08-16	8.07	9.39	-19.96	25041900	Downward Expansion	-55	30
2024-08-09	8.05	9.48	-20.18	35924600	Downward Expansion	-57	29
2024-08-02	8.50	9.59	-17.45	65324480	Downward Expansion	-39	23
2024-07-26	8.84	9.71	-14.25	85879040	Downward Expansion	-38	23
2024-07-19	8.57	9.89	-19.88	48362180	Downward Expansion	-40	23
2024-07-12	8.15	10.05	-24.02	74105500	Downward Expansion	-48	27
2024-07-05	8.48	10.26	-20.96	88686800	Downward Expansion	-45	29
2024-06-28	9.27	10.40	-14.74	123796600	Downward Expansion	-57	41
2024-06-21	8.45	10.50	-23.64	80271134	Downward Expansion	-63	65
2024-06-14	7.83	10.62	-30.67	16077900	Downward Expansion	-68	74
2024-06-07	7.61	10.76	-33.64	28346040	Downward Expansion	-74	72
2024-05-31	8.36	10.89	-28.54	18194300	Downward Expansion	-66	61
2024-05-24	8.56	10.98	-27.43	33560900	Downward Expansion	-62	45
2024-05-17	9.01	11.05	-25.90	33270764	Downward Expansion	-56	41
2024-05-10	9.37	11.13	-23.60	54677360	Downward Expansion	-55	50
2024-05-03	9.35	11.21	-23.03	21256474	Downward Expansion	-57	56
2024-04-26	9.01	11.29	-25.88	36021416	Downward Expansion	-58	59
2024-04-19	8.47	11.38	-30.46	59920896	Balance	-66	55
2024-04-12	9.67	11.51	-20.20	50783096	Balance	-54	35
2024-04-05	9.96	11.62	-19.82	48870856	Balance	-50	22
2024-03-29	10.20	11.69	-17.83	172058887	Balance	-32	16
2024-03-22	12.89	11.75	2.92	150926141	Balance	8	16
2024-03-15	10.86	11.75	-13.64	136185733	Downward Expansion	-25	20
2024-03-08	12.28	11.82	-2.56	183621971	Downward Expansion	-23	11
2024-03-01	12.56	11.83	0.04	201079743	Downward Expansion	-29	21
2024-02-23	11.53	11.84	-7.76	55846155	Downward Expansion	-57	52
2024-02-09	7.15	11.91	-40.30	53336050	Downward Expansion	-86	81
2024-02-02	9.49	12.10	-17.69	104904800	Downward Expansion	-73	70
2024-01-26	10.51	12.23	-14.91	40927037	Downward Expansion	-62	54
2024-01-19	10.59	12.34	-12.27	28394733	Balance	-64	44
2024-01-12	10.92	12.48	-11.53	43903143	Balance	-48	28
2024-01-05	11.22	12.60	-10.88	54334950	Rotation Up	-21	10
2023-12-29	12.08	12.70	-5.88	181015085	Rotation Up	10	26
2023-12-22	14.42	12.74	14.46	275285264	Rotation Up	38	56
2023-12-15	13.23	12.72	4.32	135679139	Rotation Up	21	40
2023-12-08	14.44	12.78	12.73	54542374	Rotation Up	45	43
2023-12-01	12.60	12.81	-3.52	34632459	Downward Expansion	-12	20
2023-11-24	12.24	12.86	-7.04	31598330	Downward Expansion	-32	23
2023-11-17	12.28	12.92	-7.71	19232678	Downward Expansion	-41	26
2023-11-10	11.83	13.05	-10.95	23609940	Downward Expansion	-60	46
2023-11-03	11.64	13.19	-12.43	33652331	Downward Expansion	-64	55
2023-10-27	10.94	13.35	-17.72	15673232	Downward Expansion	-74	79
2023-10-20	10.76	13.53	-18.62	14019166	Downward Expansion	-85	83
2023-10-13	11.43	13.69	-17.00	14399420	Downward Expansion	-73	72
2023-09-29	11.72	13.81	-15.87	10520710	Downward Expansion	-71	70
2023-09-22	11.84	13.93	-16.04	14977312	Downward Expansion	-69	57

Price vs TrendBelow-4.0%

Trend directionFalling-5.5%

Price vs current Fair ValueBelow anchor-26.4%

Fair Value directionClosing upward+6.3%

Relative Strength vs benchmarkLagging-7.5%

Relative strength directionImproving+18.4%

Price momentumNegative-4.2%

Volume balanceSupply-led0.31×

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

-10 / ±100

-41.4 points since 2026-09-04

Energy

16 /100

-25.3 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.

603825 Directional State ↗

Comparative structural evidence

Why this architecture regime won

Every regime is evaluated

Balance53

Rotation Up24

Upward Expansion23

Deceleration60

Rotation Down42

Downward Expansion33

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 21%Rotation Up 8%Upward Expansion 11%Deceleration 3%Rotation Down 3%Downward Expansion 55%

Recent Trend Architecture ledger

Regime	Recognized	Last observation	Tenure	Move inside regime
Rotation Up	2026-09-04	2026-10-02	Developing	-9.7%
Downward Expansion	2026-04-03	2026-08-28	Established	+6.8%
Balance	2026-02-06	2026-03-27	Developing	-8.1%
Downward Expansion	2025-09-05	2026-01-30	Established	-3.8%
Balance	2025-06-13	2025-08-29	Developing	-26.5%
Downward Expansion	2025-05-16	2025-06-06	New	+9.6%
Rotation Down	2025-04-18	2025-05-09	New	+4.2%
Balance	2025-03-28	2025-04-11	New	-12.8%
Upward Expansion	2025-02-21	2025-03-21	Developing	-9.0%
Deceleration	2025-01-17	2025-02-14	Developing	+38.2%
Upward Expansion	2024-10-25	2025-01-10	Developing	+21.0%
Rotation Up	2024-10-11	2024-10-18	New	+10.2%
Balance	2024-09-20	2024-10-04	New	+18.2%
Downward Expansion	2024-04-26	2024-09-13	Established	-0.3%

Classic Stage Analysis comparison

Stage 1 · Basing69

Stage 2 · Advancing5

Stage 3 · Distribution14

Stage 4 · Declining95

Legacy result: Stage 4 · Stage 4B · Declining. 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: 21/100
Current Relative Strength: -7.52
Relative Strength direction: Improving
Price momentum: -4.2%
Excess performance vs benchmark: -3.2%
Communication Services regime cohort: 7th percentile15 in cohort

Test 603825 trend persistence

Participation and structure

Is demand confirming the architecture?

Volume cannot overrule geometry

Relative volume0.75×

Latest completed volume relative to typical participation.

Up/down volume0.31×

Participation balance between advancing and declining observations.

Accumulation / distribution0 / 3

Recent participation evidence classified by demand and supply.

Activity alignment+25.0%

Current positive alignment across Activity and Trend.

Fast/slow rotationWeakening

Current relationship between Fast Activity and Slow Activity.

Structure stability+25.0%

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 603825 Volume & Price ↗

Decision architecture

References that would change the structural read

Evidence levels, not orders

Fast Activity CNY 7.84falling

Slow Activity CNY 7.77falling

Trend Reference CNY 7.93-4.0% close margin

Current Fair Value CNY 10.34-26.4% close margin

Structural low CNY 6.07shock / repair context

What changes the read?

Full positive ordering with expanding width confirms Upward Expansion. Loss of the fast/slow repair and renewed downside acceptance cancels it.

Range context +5.8%

Annualized volatility +38.7%

From structural high -27.0%

From structural low +25.4%

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	4	-12.6%-22.3% to +19.5%	+25.0%	+25.0%	-8.1%	+50.0%	Too little matched history
Intermediate	2	+4.5%-24.8% to +33.9%	+50.0%	+50.0%	+3.9%	+0.0%	Too little matched history
Extended	2	-15.9%-45.8% to +13.9%	+50.0%	+50.0%	-17.3%	+0.0%	Too little matched history
Full cycle	1	+8.9%+8.9% to +8.9%	+100.0%	+100.0%	-5.4%	+0.0%	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.

603825 Stage Analysis

What the Activity Line geometry says now

The Activity Line structure is rotating upward.

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 Activity Line structure is rotating upward.

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