| Company | N | Fish ADF | Mean | SD | Min | p50 | Max |
| SSE180 | 392 | −18.8527 | −0.0183 | 1.1312 | −4.9707 | −0.0016 | 4.2631 |
| Shenzhen Energy Group Co., Ltd. | 392 | −19.7254 | 0.0008 | 0.032 | −0.0997 | 0 | 0.1005 |
| Tangshan Jidong CEMENT Co., Ltd. | 392 | −17.7405 | −0.0008 | 0.0166 | −0.0821 | −0.0016 | 0.0602 |
| Guangdong Electric Power Development Co., Ltd. | 392 | −18.6212 | 0.0007 | 0.0272 | −0.1004 | 0 | 0.1011 |
| AN HUI Wenergy Company Limited | 392 | −17.3622 | 0.0001 | 0.0225 | −0.0865 | 0 | 0.0994 |
| Jointo Energy Investment Co.,Ltd. Hebei. | 392 | −18.2960 | −0.0004 | 0.0227 | −0.0815 | −0.0018 | 0.0997 |
| Citic Pacific Special Steel Group Co., Ltd. | 392 | −17.6871 | 0.0008 | 0.0299 | −0.1 | −0.0005 | 0.1 |
| HBIS Company Limited | 392 | −20.2280 | 0.0007 | 0.0196 | −0.0747 | 0 | 0.0784 |
| Guangdong Zhongnan Iron & Steel Co., Ltd. | 392 | −19.8889 | 0.0006 | 0.0256 | −0.0878 | 0.0009 | 0.1009 |
| Bengang Steel Plates Co., Ltd. | 392 | −18.9932 | 0.0014 | 0.03 | −0.0979 | 0 | 0.1012 |
| Jinneng Holding Shanxi Electric Power Co., Ltd. | 392 | −17.2476 | 0.0011 | 0.0345 | −0.1002 | 0 | 0.1015 |
| Beijing New Building Materials Public Limited Company | 392 | −16.5715 | 0.0004 | 0.0294 | −0.0985 | −0.0017 | 0.1001 |
| Jiangxi Wannianqing Cement Co., Ltd. | 392 | −16.7841 | −0.0004 | 0.022 | −0.1002 | −0.0014 | 0.0859 |
| Shanxi Taigang Stainless Steel Co., Ltd. | 392 | −15.9777 | 0.0024 | 0.0337 | −0.0997 | 0 | 0.1009 |
| Xinjiang Tianshan Cement Co., Ltd. | 392 | −15.7446 | −0.0008 | 0.0282 | −0.0835 | −0.0036 | 0.1003 |
| Hubei Energy Group Co., Ltd. | 392 | −16.9901 | 0.0006 | 0.0266 | −0.1005 | 0 | 0.1009 |
| Angang Steel Company Limited | 392 | −18.8733 | 0.0013 | 0.0293 | −0.0974 | 0 | 0.1006 |
| Hunan Valin Steel Co., Ltd. | 392 | −17.1367 | 0.0013 | 0.0317 | −0.0953 | 0 | 0.1005 |
| Henan ShenhuoCoal & Power Co., Ltd. | 392 | −15.9207 | 0.0034 | 0.0421 | −0.1005 | 0.0037 | 0.1005 |
| Shanxi Coking Coal Energy Group Co., Ltd. | 392 | −16.3568 | 0.0036 | 0.038 | −0.1003 | 0 | 0.1006 |
| Henan Yuneng Holdings Co., Ltd. | 392 | −14.7763 | 0.0017 | 0.0438 | −0.1003 | 0 | 0.1011 |
| Jiangsu Shagang Co., Ltd. | 392 | −18.8242 | −0.0015 | 0.0312 | −0.1003 | −0.0021 | 0.1005 |
| Sansteel Minguang Co., Ltd., Fujian | 392 | −18.0149 | 0.0007 | 0.0238 | −0.1001 | 0 | 0.1003 |
| INNER MONGOLIA DIAN TOU ENERGY Corporation Limited | 392 | −17.6530 | 0.0019 | 0.0316 | −0.0999 | 0.0018 | 0.1 |
| Guangdong Tapai Group Co., Ltd. | 392 | −17.1456 | −0.0008 | 0.0197 | −0.1001 | −0.001 | 0.1002 |
| Inner Mongolia Bao Tou Steel Union Co., Ltd | 392 | −16.7777 | 0.0022 | 0.0337 | −0.0986 | 0 | 0.1023 |
| Huaneng Power International, Inc | 392 | −16.4364 | 0.001 | 0.0323 | −0.1004 | −0.0025 | 0.1011 |
| BaoshanIron & Steel Co., Ltd. | 392 | −17.5691 | 0.0016 | 0.0275 | −0.079 | 0 | 0.0989 |
| Shanghai Electric Power Co., Ltd. | 392 | −17.8065 | 0.0008 | 0.033 | −0.1002 | 0 | 0.1004 |
| Shandong Iron and Steel Company Ltd. | 392 | −21.6069 | 0.0009 | 0.0239 | −0.0833 | 0 | 0.0979 |
| Zhejiang Zheneng Electric Power Co., Ltd. | 392 | −20.3731 | 0.0001 | 0.0158 | −0.052 | 0 | 0.1008 |
| Huadian Power International Corporation Limited | 392 | −18.6094 | 0 | 0.0268 | −0.0918 | −0.0027 | 0.1013 |
| China Petroleum & Chemical Corporation | 392 | −22.5868 | 0.0005 | 0.0144 | −0.0591 | 0 | 0.0743 |
| China Southern Airlines Company Limited | 392 | −20.2289 | 0.0007 | 0.0213 | −0.0979 | −0.0016 | 0.0998 |
| China United Network Communications Limited | 392 | −17.8544 | −0.0008 | 0.0116 | −0.0552 | −0.0021 | 0.0426 |
| Guangzhou Development Group Incorporated | 392 | −19.2187 | 0.0004 | 0.025 | −0.1001 | 0 | 0.1006 |
| China Eastern Airlines Corporation Limited | 392 | −17.5145 | 0.0001 | 0.0203 | −0.0862 | 0 | 0.0994 |
| Wintime Energy Co., Ltd. | 392 | −19.5255 | 0.0005 | 0.0256 | −0.1023 | 0 | 0.1007 |
| Yanzhou Coal Mining Company Limited | 392 | −16.3299 | 0.0046 | 0.04 | −0.1 | 0.003 | 0.1002 |
| Hainan Airlines Holding Co., ltd. | 392 | −19.7326 | 0.0005 | 0.0252 | −0.1014 | 0 | 0.1 |
| Lingyuan Iron & Steel Co., Ltd. | 392 | −18.3054 | 0.0009 | 0.0267 | −0.0849 | 0 | 0.1018 |
| Nanjing Iron and Steel Co., Ltd. | 392 | −18.9102 | 0.0009 | 0.0229 | −0.0974 | 0 | 0.0982 |
| Gansu Jiu Steel Group Hongxing Iron & Steel Co., ltd. | 392 | −17.6021 | 0.0013 | 0.0294 | −0.0985 | 0 | 0.1024 |
| Shenyang Jinshan Energy Co.,Ltd. | 392 | −16.2662 | 0.0007 | 0.0373 | −0.1008 | 0 | 0.1018 |
| Fujian Nanfang Textile Co., Ltd. | 392 | −20.1233 | 0.0013 | 0.0345 | −0.1 | 0 | 0.1004 |
| Fangda Special Steel Technology Co., Ltd. | 392 | −17.5195 | 0.0018 | 0.0274 | −0.0994 | 0.0013 | 0.1003 |
| Beijing Jingneng Power Co., ltd. | 392 | −19.7127 | 0 | 0.0232 | −0.0736 | 0 | 0.1016 |
| Anhui Conch Cement Company Limited | 392 | −17.9448 | −0.0008 | 0.0206 | −0.0867 | −0.0021 | 0.0977 |
| Shenergy Company Limited | 392 | −19.0320 | 0.0003 | 0.021 | −0.0797 | 0 | 0.1006 |
| Sinopec Shanghai Petrochemical Company Limited | 392 | −16.6846 | 0.0003 | 0.0226 | −0.0725 | 0 | 0.1013 |
| Gansu Qilianshan Cement Group Co., Ltd. | 392 | −18.6358 | −0.0012 | 0.0224 | −0.1 | −0.001 | 0.1004 |
| Huadian Energy Company Limited | 392 | −23.2416 | 0.0005 | 0.0343 | −0.1009 | 0 | 0.1013 |
| Datang Huayin Electric Power Co., Ltd. | 392 | −15.7849 | 0.0022 | 0.0405 | −0.1008 | 0 | 0.1017 |
| Xinyu Iron and Steel Co., Ltd. | 392 | −17.1678 | 0.0016 | 0.0307 | −0.1005 | 0 | 0.1008 |
| GD Power Development Co., Ltd. | 392 | −19.1004 | 0.0009 | 0.0219 | −0.1009 | 0 | 0.1014 |
| Huaxin Cement Co., Ltd. | 392 | −16.5949 | −0.0003 | 0.0262 | −0.1001 | −0.0006 | 0.1 |
| Maanshan Iron & Steel Company Limited | 392 | −16.3481 | 0.0017 | 0.0288 | −0.0995 | 0 | 0.101 |
| Inner Mongolia Meng Dian Hua Neng Thermal Power Corporation Limited | 392 | −17.6859 | 0.0009 | 0.0301 | −0.1006 | 0 | 0.1014 |
| Jilin Yatai (Group) Co., Ltd. | 392 | −17.7370 | −0.0002 | 0.017 | −0.0649 | 0 | 0.1008 |
| Sdic Power Holdings Co., Ltd. | 392 | −16.6323 | 0.0004 | 0.0219 | −0.0866 | −0.001 | 0.0998 |
| Liuzhou Iron and Steel Co., Ltd. | 392 | −20.8764 | 0.0008 | 0.0233 | −0.087 | 0 | 0.0762 |
| Chongqing Iron & Steel Company Limited | 392 | −18.5957 | 0.0012 | 0.03 | −0.0947 | 0 | 0.1018 |
| China Shenhua Energy Company Limited | 392 | −19.5050 | 0.0024 | 0.0243 | −0.079 | 0.0022 | 0.1 |
| International Aviation Co., Ltd. | 392 | −18.7049 | 0.0012 | 0.0239 | −0.099 | −0.0006 | 0.0998 |
| China Railway Construction Corporation Limited | 392 | −17.5287 | 0.0001 | 0.0156 | −0.0488 | −0.0012 | 0.0856 |
| China Railway Group Limited | 392 | −16.8397 | 0.0008 | 0.0171 | −0.0595 | 0 | 0.0977 |
| Aluminum Corporation Of China Limited | 392 | −17.7629 | 0.0021 | 0.0345 | −0.0997 | 0 | 0.101 |
| Metallurgical Corporation of China Ltd. | 392 | −16.7135 | 0.0012 | 0.0278 | −0.0998 | 0 | 0.1011 |
| China State Construction Engineering Corporation Limited | 392 | −17.9841 | 0.0006 | 0.0151 | −0.0777 | −0.0019 | 0.0835 |
| Petro China Company Limited | 392 | −18.2111 | 0.0009 | 0.0183 | −0.0842 | 0 | 0.0916 |
| China Coal Energy Company Limited | 392 | −17.0774 | 0.0028 | 0.0323 | −0.1004 | 0 | 0.1006 |
| Cosco Shipping Holdings Co., ltd. | 392 | −17.3657 | 0.0043 | 0.042 | −0.1002 | 0 | 0.1004 |
| Datang International Power Generation Co., Ltd. | 392 | −19.6817 | 0.0001 | 0.0253 | −0.0923 | 0 | 0.1012 |
| BBMG Corporation | 392 | −18.2126 | −0.0001 | 0.0131 | −0.0625 | 0 | 0.0445 |