The audit log · signal #36

BZUN insider buy · signal #36

CEO Wenbin Qiu bought $40k of Baozun Inc. (BZUN), filed Sep 16, 2026, 06:14 New York time.

Logged after the fact Added when the track record started, after the fact: it wasn't published in advance.

Results

Costs: 10 basis points for buying and selling (0.10%), taken off every result. The benchmark is S&P 500 (SPY), measured from the same entry close to the same later closes. Bad calls stay in the record like every other, and a result that can't be measured counts against the Truth Scores as a miss.

The record

Each entry was written to InsiderBeacon's audit log when it happened; the prices in it are sealed, a commitment standing in for them wherever the log is passed on, and shown here with the salt that opens the seal. Every check below passes.

1. #168 · PublishedOct 17, 2026, 19:28 UTC

   Insider buy of BZUN, $40k, score 34. Costs counted: 10.0 bps a round trip. Added when the track record started, after the fact: it wasn't published in advance.

   9372403aba49b2fc29eb3536dacc5a238956d966d77c8f5823f503829670a11a ✓ matches its hash · ✓ follows the entry before it · ✓ in the checkpoint for 2026-10-17
2. #169 · EntryOct 17, 2026, 19:28 UTC

   Entry price $2.76.

   230b3cc87ed43c1fd99602dad0ac6b051ef48281b06fed77df3cfecba6ad3845 ✓ matches its hash · ✓ follows the entry before it · ✓ in the checkpoint for 2026-10-17 · ✓ sealed prices match their commitment Sealed: 1a1c628f3b4874f70206fe02929e101e8c4f53b4d4583378cdadf77b56a87979 · salt ad171b450fea7d3d1e7dda63d0673308 · values {"px":2.76}
3. #170 · ResultOct 17, 2026, 19:28 UTC

   1 day: price +0.7%, after costs +0.6%; no benchmark

   cc60e54e623f55c60d0b5e45007d4c6afc6eca023c6fbe983f6b0d39e5366d0c ✓ matches its hash · ✓ follows the entry before it · ✓ in the checkpoint for 2026-10-17 · ✓ sealed prices match their commitment Sealed: 7560e5871279653a733f874c7f8597f33507b84a6ceb6972fe8d1461d61fc9fb · salt 8d10a90574c2811c854f8899c91ded59 · values {"bench":null,"excess":null,"gross":0.00724638,"net":0.00624638}
4. #171 · ResultOct 17, 2026, 19:28 UTC

   1 week: price +8.7%, after costs +8.6%; no benchmark

   67b082766ad8aedcccc030e9bcc4489d9bb781d44f8947be35518f56d33afa55 ✓ matches its hash · ✓ follows the entry before it · ✓ in the checkpoint for 2026-10-17 · ✓ sealed prices match their commitment Sealed: a268707b1a53a89f9828abefd6859cdfb9650a9d2078a9a54b3c0005d9f89bed · salt c0bb9ef7c80a469200b6b52747edd09b · values {"bench":null,"excess":null,"gross":0.08695652,"net":0.08595652}
5. #172 · ResultOct 17, 2026, 19:28 UTC

   1 month: price +34.8%, after costs +34.7%; no benchmark

   f689e94fc9adeb08bdfb61b658fefa4a568d772ce06bfcf183bd060dea7bf6b0 ✓ matches its hash · ✓ follows the entry before it · ✓ in the checkpoint for 2026-10-17 · ✓ sealed prices match their commitment Sealed: 49e0f723c06245cd62a9d84f0c0dd77e89ef015f7bd973666d646cba8685652a · salt 39be8015e012318a6cd0fd486a7556e8 · values {"bench":null,"excess":null,"gross":0.34782609,"net":0.34682609}
6. #2113 · EntryOct 17, 2026, 19:28 UTC

   Benchmark the S&P 500 (SPY) at $754.05, the close of Sep 16, 2026.

   755aa91025b859a2739b6a92cab523256941bfae5d3c5782f0ad43f00dc312b4 ✓ matches its hash · ✓ follows the entry before it · ✓ in the checkpoint for 2026-10-17 · ✓ sealed prices match their commitment Sealed: b0c545068cb819667864b5fa14393c42e249515e43a465789c843710b5182cbf · salt 7efa24e7977b34326787aeb26c84fb27 · values {"bpx":754.05}
7. #2114 · ResultOct 17, 2026, 19:28 UTC

   1 day: price +0.7%, after costs +0.6%; benchmark +1.1%, so −0.5% against it

   a1fd87c0b2e997b0dd20b9f7b00956f9be14c28ce3b16d456a7ff7ec6e6fd412 ✓ matches its hash · ✓ follows the entry before it · ✓ in the checkpoint for 2026-10-17 · ✓ sealed prices match their commitment Sealed: 8390c89bfc6b73757590ba106ffa3339cb7fc3a9a8323107cec2a891c64d4464 · salt 7d35bd04a7980b9af209d98473b64173 · values {"bench":0.01133877,"excess":-0.00509239,"gross":0.00724638,"net":0.00624638}
8. #2115 · ResultOct 17, 2026, 19:28 UTC

   1 week: price +8.7%, after costs +8.6%; benchmark +1.8%, so +6.8% against it

   b9b44e2f25f543daad2604e67cbb871ad0db4e5a4a92f79ac45e18e246b2e157 ✓ matches its hash · ✓ follows the entry before it · ✓ in the checkpoint for 2026-10-17 · ✓ sealed prices match their commitment Sealed: d29b07a38b0b1638029f1305e450261b14e8a339d402d7050cf7aeb09487cdad · salt 5897de95d1e77a41996055b77d39a6b9 · values {"bench":0.01824813,"excess":0.06770839,"gross":0.08695652,"net":0.08595652}
9. #2116 · ResultOct 17, 2026, 19:28 UTC

   1 month: price +34.8%, after costs +34.7%; benchmark +1.2%, so +33.5% against it

   3f3d776f78335af7954b77b6f3cbfc33c7b7d2542d0afdef13a68b0e9f5e0d96 ✓ matches its hash · ✓ follows the entry before it · ✓ in the checkpoint for 2026-10-17 · ✓ sealed prices match their commitment Sealed: 3179fe94104a1889ab0e876863714955a2fb9a0be1e8b5817f3d9aa9af595071 · salt acafb61c1af2d107149bf6013fd5ad7f · values {"bench":0.01220078,"excess":0.3346253,"gross":0.34782609,"net":0.34682609}

Checkpoints: Oct 17, 2026, digest 329d585d25f590391040f989e1301c83b47a69bc992610579610d4d9ff0f8bf4.

What this proves

That each entry matches its hash and follows the entry logged right before it, and, once its day is over, that it's part of that day's checkpoint, whose digest fixes everything logged up to then. It doesn't prove on its own that the whole log was never rewritten: only a copy of a checkpoint kept outside this site can. No copy is kept outside this site yet, so these checks show the log is consistent, not that it was never rewritten.

Check it yourself

Download these entries with their proofs: /s/36.json. The audit log page has a short script that checks every hash, every link and every checkpoint, and explains each step.

Source: the SEC filing. Past results don't predict future ones, and nothing here is investment advice.