CYD

CYD remains in a pronounced Stage 4 decline with a clear loss of support around the $37 region, trading below all key EMAs with accelerating volume on down days. The primary Support Failure pattern suggests downside can accelerate and trapped longs may exit. Medium-term bias is decisively bearish, reinforced by the broken intermediate structure, while short-term conditions are unfavorable for buy-side engagement given extension below the 9/20 EMA band. The optimal posture is Sell Now on any failed rallies into the EMA resistance zone.

• ↑Revenue +13.9% YoY to RMB14.7B; operating profit +58.9% to RMB988M.
• ↑Gross margin rose to 17.1% from 14.3% on mix and efficiency.
• ↓Negative earnings yield and low profitability raise return concerns.