@v587d/capital-generation 2.7.2 → 2.7.4

package/selected-skills/claude-for-financial-services-cn/vertical-plugins/china-finance/skills/china-market-data/SKILL.md

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+---
+name: china-market-data
+description: Query A-share and Chinese financial market data via multiple data sources. Tier-1 paid source is iFind (同花顺, covers stocks/funds/macro/bonds/HK-US/ESG/index-sectors). Tier-2 free source is AkShare (行情/财报/行业/指数). Use whenever the agent needs Chinese financial data — compatible with 沪深 A 股, 科创板, 创业板, 北交所, and 港股通 stocks.
+---
+
+# china-market-data
+
+## Data sources (multi-tier)
+
+### Tier 0 — 万得 Wind（最全面付费数据）
+- 覆盖：A股/港美股/基金/指数/债券/宏观/研报/分析（44个工具）
+- MCP 服务：`wind-mcp`（需 `WIND_API_KEY` 密钥，以 `ak_` 开头）
+- 优势：全市场覆盖面最广、数据最全面、包含研报和量化分析
+- 密钥申请：https://aifinmarket.wind.com.cn/#/home
+
+### Tier 1 — 同花顺 iFind（付费精确数据）
+- 覆盖：股票、基金、宏观经济、新闻公告、债券、港美股、指数板块
+- MCP 服务：`ifind-mcp`（需 `IFIND_AUTH_TOKEN` 密钥）
+- 优势：精确财务数据、一致预期、ESG评级、债券详情、港美股、宏观行业指标
+- 并发限制：免费版 2/s，个人版 5/s，企业版 10/s
+
+### Tier 2 — AkShare（免费开源数据）
+- 覆盖：A 股行情、财报、行业分类、指数
+- MCP 服务：`akshare-mcp`（无需密钥，直接启动）
+- 优势：无并发限制，适合高频批量查询
+
+### Tier 3 — 新闻公告（免费）
+- MCP 服务：`china-news-mcp`
+- 覆盖：个股新闻、市场头条
+
+### 数据源优先级策略
+
+| 场景 | Wind (Tier-0) | iFind (Tier-1 首选) | AkShare (Tier-2 备选) |
+|------|---------------|---------------------|----------------------|
+| 股票财务报表（利润表/资产负债表） | `wind_get_stock_fundamentals` | `ifind_get_stock_financials` | `get_financials` |
+| 股票基本面/行情 | `wind_get_stock_basicinfo` | `ifind_get_stock_info` | `get_stock_info` / `get_quote` |
+| 股票行情快照（实时行情） | `wind_get_stock_price_indicators` | `ifind_get_stock_info` | `get_quote` |
+| 股票K线（OHLCV历史） | `wind_get_stock_kline` | — | `get_historical_data` |
+| 股票技术指标 | `wind_get_stock_technicals` | — | — |
+| 智能选股 | `wind_search_stocks` | `ifind_search_stocks` | `search_stock`（仅关键词） |
+| 股东/股本结构 | `wind_get_stock_equity_holders` | `ifind_get_stock_shareholders` | — |
+| 一致预期/估值 | `wind_get_stock_consensus` | — | — |
+| 风险指标（夏普/Beta/波动率） | `wind_get_risk_metrics` | `ifind_get_risk_indicators` | — |
+| ESG 评级 | — | `ifind_get_esg_data` | — |
+| 基金资料/行情/持仓 | `wind_get_fund_*` | `ifind_search_funds` / `ifind_get_fund_*` | `get_fund_data` |
+| 宏观经济指标 | `wind_get_economic_data` | `ifind_search_edb` → `ifind_get_edb_data` | — |
+| 债券基本信息 | `wind_get_bond_basicinfo` | `ifind_bond_basic_info` | — |
+| 债券行情数据 | `wind_get_bond_market_data` | `ifind_bond_market_data` | — |
+| 港美股基本面 | `wind_get_global_stock_fundamentals` | `ifind_global_stock_financial` | — |
+| 港美股基本信息 | `wind_get_global_stock_basicinfo` | `ifind_global_stock_profile` | — |
+| 指数/板块 | `wind_get_index_constituents` | `ifind_index_data` / `ifind_sector_data` | `get_index_data` |
+| 新闻/公告 | `wind_get_announcements` | `ifind_search_news` / `ifind_search_notice` | `get_stock_news` |
+| 财经新闻 | `wind_get_financial_news` | `ifind_search_trending_news` | `get_market_headlines` |
+| 公司公告 | `wind_get_company_announcements` | `ifind_search_notice` | — |
+| 行业分类/成分股 | `wind_get_index_constituents` | `ifind_sector_data` | `get_industry_stocks` |
+| 市场概览（涨跌幅榜） | — | — | `get_market_overview` |
+| 研报搜索 | `wind_search_research` | — | — |
+| 因子/策略分析 | `wind_factor_analysis` / `wind_backtest` | — | — |
+| 兜底取数（通用数据查询） | `wind_get_financial_data` | — | — |
+
+> **Data Source Mode Switch (env var `IFIND_DATA_SOURCE_MODE`)**:
+> - `wind-only` (strict): Wind only, error if unavailable
+> - `wind-fallback` (recommended): Wind preferred, fallback to iFind → AkShare
+> - `ifind-only` (strict): iFind only, error if unavailable
+> - `ifind-fallback` (default): iFind preferred, fallback to AkShare
+> - `akshare-only`: AkShare only, skip Wind/iFind
+>
+> Usage: `export IFIND_DATA_SOURCE_MODE=ifind-only`
+
+---
+
+## iFind MCP tools（`mcp__ifind__*`）
+
+### 股票服务
+
+| Tool | Purpose |
+|------|---------|
+| `ifind_search_stocks` | 自然语言智能选股 |
+| `ifind_get_stock_summary` | 股票信息摘要 |
+| `ifind_get_stock_info` | 基本资料 / 日频行情 / 技术指标 |
+| `ifind_get_stock_shareholders` | 股本结构与股东 |
+| `ifind_get_stock_financials` | 财务数据与指标 |
+| `ifind_get_risk_indicators` | 风险定量指标 |
+| `ifind_get_stock_events` | 上市公司重大事件 |
+| `ifind_get_esg_data` | ESG 评级数据 |
+
+### 基金服务
+
+| Tool | Purpose |
+|------|---------|
+| `ifind_search_funds` | 基金搜索 |
+| `ifind_get_fund_profile` | 基金基本资料 |
+| `ifind_get_fund_market_performance` | 基金行情与业绩 |
+| `ifind_get_fund_ownership` | 基金份额与持有人 |
+| `ifind_get_fund_portfolio` | 基金持仓明细 |
+| `ifind_get_fund_financials` | 基金财务指标 |
+| `ifind_get_fund_company_info` | 基金公司信息 |
+
+### 宏观经济 / 行业经济指标
+
+| Tool | Purpose |
+|------|---------|
+| `ifind_search_edb` | 指标模糊搜索（先搜再查） |
+| `ifind_get_edb_data` | 指标数据查询 |
+
+### 新闻公告
+
+| Tool | Purpose |
+|------|---------|
+| `ifind_search_news` | 新闻资讯语义检索 |
+| `ifind_search_notice` | 上市公司公告语义检索 |
+| `ifind_search_trending_news` | 热点事件资讯 |
+
+### 债券
+
+| Tool | Purpose |
+|------|---------|
+| `ifind_bond_basic_info` | 债券基本信息 |
+| `ifind_bond_market_data` | 债券行情与估值 |
+| `ifind_bond_financial_data` | 发债主体财务 |
+| `ifind_bond_special_data` | 可转债/信用债特殊条款 |
+
+### 港美股
+
+| Tool | Purpose |
+|------|---------|
+| `ifind_search_global_stocks` | 港美股智能选股 |
+| `ifind_global_stock_profile` | 港美股基本资料 |
+| `ifind_global_stock_quotes` | 港美股行情 |
+| `ifind_global_stock_financial` | 港美股财务 |
+| `ifind_global_stock_events` | 港美股公告事件 |
+
+### 指数板块
+
+| Tool | Purpose |
+|------|---------|
+| `ifind_index_data` | 指数行情 / 技术指标 / 估值 |
+| `ifind_sector_data` | 板块行情 / 成分股分析 |
+
+---
+
+## AkShare MCP tools（`mcp__akshare__*`）
+
+| Tool | Purpose |
+|------|---------|
+| `search_stock` | Search A-share stocks by code or name |
+| `get_quote` | Real-time quote (price, PE, PB, market cap) |
+| `get_historical_data` | OHLCV history (daily/weekly/monthly), forward-adjusted |
+| `get_financials` | 利润表/资产负债表/现金流量表 |
+| `get_industry_stocks` | 行业分类 & 成分股 (东方财富行业) |
+| `get_index_data` | 指数行情 (上证/深证/创业板/科创50) |
+| `get_stock_info` | 公司基本信息 & 业务范围 |
+| `get_market_overview` | 涨幅榜/跌幅榜/成交额榜 |
+| `get_fund_data` | 公募基金/ETF 行情 |
+
+The **china-news** MCP server provides:
+
+| Tool | Purpose |
+|------|---------|
+| `get_stock_news` | 个股新闻 |
+| `get_market_headlines` | 市场头条 |
+
+---
+
+## Workflow
+
+### 1. Identify the stock/security
+
+```python
+# iFind — 自然语言选股
+ifind_search_stocks(query="电子行业市值大于100亿")
+
+# AkShare — 关键词搜索
+search_stock(keyword="茅台")
+```
+
+### 2. Pull market data
+
+```python
+# iFind — 精确财务
+ifind_get_stock_financials(query="贵州茅台2024年年报的ROE、ROA、净利润增速")
+
+# AkShare — 历史行情
+get_historical_data(ticker="600519", start_date="20240101", end_date="20241231", frequency="daily")
+
+# AkShare — 财务报表
+get_financials(ticker="600519", statement_type="income", period="annual")
+```
+
+### 3. Industry / peer context
+
+```python
+# iFind — 板块分析
+ifind_sector_data(query="白酒板块的成分股个数及过去5日平均涨跌幅")
+
+# AkShare — 行业成分
+get_industry_stocks(industry="白酒")
+
+# iFind — 指数
+ifind_index_data(query="沪深300过去10个交易日的涨跌幅和收盘点数")
+```
+
+### 4. Macro / EDB indicators
+
+```python
+# 先搜索再取数
+ifind_search_edb(query="新能源汽车产量相关指标")
+ifind_get_edb_data(query="新能源汽车产量当月值（202301-202506）")
+```
+
+### 5. News and sentiment
+
+```python
+# iFind — 公告语义检索
+ifind_search_notice(query="贵州茅台2024年年度报告 分红", time_start="2025-01-01", time_end="2025-12-31", size=5)
+
+# AkShare — 个股新闻
+get_stock_news(ticker="600519")
+```
+
+## Note on data coverage
+
+- **A-shares**: Full coverage via both iFind and AkShare (SH, SZ, BJ, STAR, ChiNext)
+- **Hong Kong stocks (港股通)**: iFind 完整覆盖；AkShare 部分覆盖
+- **US-listed Chinese ADRs**: iFind 通过 `ifind_global_stock_*` 覆盖
+- **Funds**: iFind 完整覆盖（资料/行情/持仓/持有人）；AkShare 仅 ETF 行情
+- **Bonds**: iFind 覆盖信用债/可转债/回购；AkShare 需扩展
+- **ESG**: 仅 iFind 提供
+- **宏观经济**: iFind EDB 覆盖最广；AkShare 有基础宏观数据

package/selected-skills/claude-for-financial-services-cn/vertical-plugins/china-finance/skills/china-model-update/SKILL.md

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+---
+name: china-model-update
+description: Update A-share financial models with new quarterly data, management guidance, or macro changes. Reflects actuals, rolls estimates forward, flags material changes, and updates valuation. Adapted from the original model-update skill for Chinese market conventions and AkShare data. Triggers on "A股模型更新", "模型更新", "plug earnings into model", "update model for [company]", "刷新预测", or "更新财务模型".
+---
+
+# china-model-update
+
+## Purpose
+
+Update existing **A股财务模型** with new data, ensuring all cells are traceable to sources and all changes are documented.
+
+## Data Sources
+
+### Primary: iFind MCP (Tier-1 付费) / AkShare MCP (Tier-2 免费备选)
+
+```python
+get_financials(ticker, "income", "quarterly")   → Q[X] actual results
+get_financials(ticker, "balance", "quarterly")  → BS update
+get_financials(ticker, "cashflow", "quarterly") → CF update
+get_financials(ticker, "income", "annual")      → Full year update
+get_quote(ticker)                               → Current market data
+get_stock_info(ticker)                          → Any company changes
+```
+
+### Secondary Sources
+
+- **巨潮资讯** — official filings for exact figures
+- **业绩说明会 transcript** — management commentary
+- **管理层指引** — guidance from earnings calls
+- **Wind / Choice / 同花顺** — consensus updates
+
+## Workflow
+
+### Step 1: Identify What Changed
+
+**Change triggers:**
+- Quarterly earnings release (季报/年报)
+- Management guidance update (管理层指引调整)
+- Macro assumption change (rate, tax, policy)
+- Model error or refinement
+- M&A or restructuring event
+
+**Change log template:**
+
+| Date | Change Type | Item | Old Value | New Value | Reason |
+|------|-------------|------|-----------|-----------|--------|
+| | Earnings update | Revenue FY25E | XX亿 | XX亿 | Q1 actuals beat |
+| | Guidance | Tax rate | 25% | 25% | No change |
+| | Macro | CapEx % | 5% | 6% | New plant announced |
+
+### Step 2: Update Historical Actuals
+
+**Quarterly actuals:**
+
+```
+[Company] Q[X] 20XX Actuals (from AkShare / 巨潮):
+- 营业收入: XXX亿 (YoY: +XX%)
+- 毛利率: XX% (vs prior: XX%)
+- 归母净利润: XXX亿 (YoY: +XX%)
+- EPS: X.XX元
+- 经营现金流: XXX亿
+```
+
+**Update sequence:**
+1. Drop Q[X] actuals into historical columns
+2. Verify sum checks (quarterly sum = annual)
+3. Update LTM (Last Twelve Months) calculations
+4. Check annual-to-quarter relationships
+
+### Step 3: Roll Forward Estimates
+
+**Revenue projections:**
+- Update growth rates based on Q[X] performance
+- Consider:
+  - Order backlog changes
+  - New product ramp
+  - Market share gains/losses
+  - Capacity expansion
+
+**Margin projections:**
+- Update gross margin based on actual trend
+- Update opex ratios based on actual leverage
+- Flag structural changes (input costs, pricing power)
+
+**Balance sheet projections:**
+- Update working capital assumptions
+- Update debt schedule if refinancing occurred
+- Update CapEx plans
+
+### Step 4: Update Valuation
+
+**Market data refresh:**
+
+```python
+get_quote(ticker)  # Current price, PE, PB
+```
+
+**Valuation metrics to update:**
+- Current stock price and change
+- Trading multiple (PE, PB, EV/Sales, EV/EBITDA)
+- 52-week range position
+- Relative to sector median
+- Implied growth vs historical
+
+**DCF updates (if applicable):**
+- Roll forward projections by one year
+- Update market data inputs (beta, risk-free rate, shares)
+- Update terminal growth if outlook changed
+
+### Step 5: Flag Material Changes
+
+**Change significance assessment:**
+
+| Change | Threshold | Action |
+|--------|-----------|--------|
+| Revenue estimate | ±5% | Update model, note driver |
+| Net income estimate | ±10% | Update model, revise target price |
+| Margin estimate | ±100 bps | Update model, assess sustainability |
+| CapEx estimate | ±20% | Update model, check FCF impact |
+| Multiple assumption | ±1x | Sensitivity check, document rationale |
+
+**Red flags to highlight:**
+- Revenue growth deceleration >500 bps
+- Margin compression >300 bps
+- Working capital deterioration
+- Debt increase >20% vs prior forecast
+- Management guidance lower than consensus
+
+### Step 6: Document Changes
+
+**Model update memo:**
+
+```
+[公司名称]（[代码]）模型更新 [Date]
+
+一、更新内容
+   [Bullet list of changes made]
+
+二、关键变动
+   Revenue FY25E: [Old] → [New] ([Change]%)
+   Net Income FY25E: [Old] → [New] ([Change]%)
+   Driver: [Explanation]
+
+三、估值影响
+   新目标价: ¥XX.XX (之前 ¥XX.XX)
+   调整幅度: +X% / -X%
+   调整逻辑: [Brief rationale]
+
+四、后续关注
+   - [Next catalyst]
+   - [Key metric to monitor]
+   - [Risk factor]
+```
+
+### Step 7: QC Checklist
+
+**Before finalizing:**
+
+- [ ] All Q[X] actuals sourced from 巨潮 PDF or AkShare
+- [ ] Historical data matches reported figures exactly
+- [ ] All formulas intact (no broken references)
+- [ ] LTM calculations updated
+- [ ] Forward estimates reflect new information
+- [ ] Valuation inputs refreshed (price, shares, multiples)
+- [ ] Target price recalculated
+- [ ] Change log complete
+- [ ] Cell comments added for new inputs
+- [ ] Model balances correctly
+
+## China-Specific Update Considerations
+
+### Earnings Season Timing
+
+| Report | Deadline | Typical Release Window |
+|--------|----------|------------------------|
+| Q1季报 | Apr 30 | Apr 1-30 |
+| 中报 | Aug 31 | Aug 1-31 |
+| Q3季报 | Oct 31 | Oct 1-31 |
+| 年报 | Apr 30 | Jan-Apr |
+
+**Model update priority:**
+- Annual report: Complete overhaul of historicals
+- Semi-annual: Major update, adjust full-year estimates
+- Quarterly: Incremental update, verify full-year trajectory
+
+### 业绩预告 Integration
+
+If company issued 业绩预告:
+- Use as directional signal before formal report
+- Adjust estimates if variance >20% from prior
+- Flag for detailed update when formal report arrives
+
+### Consensus Management
+
+- Update consensus assumptions based on new information
+- If company guidance differs from consensus, flag divergence
+- Note if management commentary suggests estimate revision
+
+### Regulatory Changes
+
+Monitor for:
+- Tax rate changes (高新技术企业 reclassification)
+- Accounting standard updates
+- Industry-specific regulation impacts on assumptions
+- Dividend policy changes (影响 DCF terminal value)
+
+## Quality Checks
+
+Before delivering:
+- [ ] All new actuals traceable to source
+- [ ] Formulas verified (no hardcodes in calculations)
+- [ ] Estimates logically consistent with new data
+- [ ] Valuation update reflects current market conditions
+- [ ] Changes documented in update memo
+- [ ] Model passes basic QC (balance checks, sum checks)
+> **Data Source Mode Switch**: Set env var `IFIND_DATA_SOURCE_MODE` to control data source preference.
+> - `ifind-only` (strict): Use iFind only, error if unavailable
+> - `ifind-fallback` (default): iFind preferred, fallback to AkShare
+> - `akshare-only`: Skip iFind, use AkShare only

package/selected-skills/claude-for-financial-services-cn/vertical-plugins/china-finance/skills/china-morning-note/SKILL.md

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+---
+name: china-morning-note
+description: Daily morning research note for A-share markets. Summarizes overnight developments, pre-market sentiment, trade ideas, and key events for the trading day. Adapted from the original morning-note skill for Chinese market conventions. Triggers on "早报", "晨会纪要", "今日策略", "morning note", "morning meeting", or "daily A-share preview".
+---
+
+# china-morning-note
+
+## Purpose
+
+Draft concise **A股晨会纪要/每日策略**, summarizing overnight developments and pre-market sentiment for the Chinese equity market. Designed for the typical Chinese sell-side 晨会 format (typically 7:00-8:30 AM before market open).
+
+## Data Sources (Multi-Tier)
+
+### Tier 0 — 万得 Wind（最全面付费数据）
+- 覆盖：A股/港美股/基金/指数/债券/宏观/研报/分析（44个工具）
+- MCP 服务：`wind-mcp`（需 `WIND_API_KEY` 密钥，以 `ak_` 开头）
+- 优势：全市场覆盖面最广、数据最全面、包含研报和量化分析
+- 密钥申请：https://aifinmarket.wind.com.cn/#/home
+
+### Tier 1 - Tonghuashun iFind (paid)
+```python
+ifind_search_news(query)       -> Real-time financial news
+ifind_search_trending_news()   -> Trending events
+ifind_index_data(query)        -> Index data
+ifind_sector_data(query)       -> Sector data
+```
+
+### Tier 2 - AkShare / Other (free, fallback)
+
+> Data source mode: `IFIND_DATA_SOURCE_MODE=ifind-only` for iFind-only mode.
+
+## Data Sources (Legacy)
+
+### Market Data
+
+```python
+get_market_overview()          → Top gainers, losers, most active
+get_index_data("000001")       → 上证指数
+get_index_data("399001")       → 深证成指
+get_index_data("399006")       → 创业板指
+get_index_data("000688")       → 科创50
+get_stock_news(ticker="")      → Market headlines
+```
+
+### News & Sentiment
+
+| Source | Coverage |
+|--------|----------|
+| china-news MCP | Stock-specific and market headlines from 东方财富 |
+| 财联社 | Real-time financial news |
+| 华尔街见闻 | Macro and market news |
+| 证券时报 | Regulatory and market news |
+| 中国新闻网 / 新华社 | Policy announcements |
+
+### Macro Data (if relevant)
+
+| Data | Source | Frequency |
+|------|--------|-----------|
+| PMI (制造业/非制造业) | 国家统计局 | Monthly |
+| CPI / PPI | 国家统计局 | Monthly |
+| Social financing / M2 | 央行 | Monthly |
+| FX rate (USD/CNY) | 中国外汇交易中心 | Daily |
+| Bond yields (10Y CGB) | 中国债券信息网 | Daily |
+| 北向资金 | 沪深港通 | Daily |
+| Southbound 南向资金 | 沪深港通 | Daily |
+
+## Workflow
+
+### Step 1: Overnight Developments
+
+**Macro / Policy:**
+- 央行 (PBoC) announcements — MLF/LPR rates, RRR cuts, open market operations
+- 国务院 / 部委政策 — industry regulations, 产业政策
+- 美联储 (Fed) developments — impact on A-share opening
+- 外围市场 (overnight markets) — US equities, commodities, FX
+
+**Company news:**
+- Earnings releases from prior evening / overnight
+- 业绩预告 (earnings preview notices)
+- 增减持 (shareholder buy/sell announcements)
+- 重大合同 (major contract wins)
+- 回购 (share buybacks)
+
+**Format:**
+```
+【宏观/政策】
+- [News item with brief implication]
+- [News item with brief implication]
+
+【公司要闻】
+- [Company]: [Event] — [Implication]
+- [Company]: [Event] — [Implication]
+```
+
+### Step 2: Market Preview
+
+**Previous session recap:**
+- 上证指数: close, change, volume
+- 深证成指: close, change
+- 创业板指: close, change, 涨跌家数
+- Sector performance: top 3 up/down sectors
+- 北向资金: net buy/sell amount, direction
+
+**Overnight markets:**
+- 美股三大指数 (Dow, Nasdaq, 中证500) — impact on A-share opening
+- Hang Seng Index (港股)
+- Commodities: 原油, 铜, 黄金
+- USD/CNY: exchange rate movement
+
+### Step 3: Trade Ideas
+
+**2-4 actionable ideas for the day:**
+
+For each idea:
+- **方向**: Long / Short / Watch
+- **标的**: Company name + ticker
+- **逻辑**: Brief thesis (1-2 sentences)
+- **催化剂**: Key event to watch
+- **风险**: Main risk factor
+
+**Example format:**
+```
+【今日策略】
+1. [方向] [标的]（[代码]）
+   逻辑：[简要投资逻辑]
+   催化剂：[近期催化剂]
+   风险：[主要风险]
+
+2. ...
+```
+
+### Step 4: Key Events Calendar
+
+**Today's events:**
+- Earnings releases (A-share companies reporting)
+- Economic data releases (CPI, PMI, etc.)
+- Policy events (PBoC MLF operations, 国新办发布会)
+- Earnings calls (业绩说明会)
+- Sector conferences / 策略会
+
+### Step 5: Sector / Thematic Focus
+
+**Sector of the day:**
+- What's moving?
+- Key drivers (policy, data, sentiment)
+- Names to watch within sector
+
+### Step 6: Draft the Note
+
+**Standard A-share morning note format:**
+
+```
+【XX证券】A股晨会纪要 [YYYY-MM-DD]
+
+一、市场回顾
+   [Yesterday's close, sector performance, 北向资金]
+
+二、隔夜外盘与大宗
+   [Overnight US/Asia markets, commodities, FX]
+
+三、重要资讯
+   【宏观政策】...
+   【公司要闻】...
+   【行业动态】...
+
+四、今日策略
+   [Trade ideas with rationale]
+
+五、重点事件日历
+   [Today's scheduled events]
+
+六、风险提示
+   [Market-wide risks]
+```
+
+### Step 7: Delivery
+
+**Tone guidelines:**
+- Concise and actionable
+- Opinionated but evidence-based
+- Flag high-conviction ideas vs. lower-conviction
+- Include risk management notes (止损位, 仓位建议)
+
+**Typical length:**
+- 300-600 words for daily note
+- 800-1,500 words for weekly strategy piece
+
+## China-Specific Morning Context
+
+### Market Mechanics
+
+| Item | A-share Convention |
+|------|-------------------|
+| Pre-market | No formal pre-market; some dark pools |
+| Opening | 9:30 AM (集合竞价 9:15-9:25) |
+| Closing | 3:00 PM (集合竞价 14:57-15:00) |
+| Lunch break | 11:30 AM - 1:00 PM |
+| Trading limits | ±10% (main), ±20% (创业板/科创板), ±30% (ST) |
+
+### Common A-share Themes
+
+- **政策市** (policy-driven market) — government announcements move markets
+- **存量博弈** (capital rotation) — limited new money, sector rotation
+- **北向资金** (Northbound flows) — tracked as sentiment indicator
+- **两融余额** (margin balances) — leverage indicator
+- **龙虎榜** (Dragon-Tiger list) — unusual activity names
+- **涨跌停** — limit-up/limit-down stocks (market momentum)
+
+### Common Catalysts in A-share
+
+- 央行公开市场操作 (PBoC open market operations)
+- LPR报价 (Loan Prime Rate announcements)
+- PMI数据 (monthly PMI releases)
+- 季报/年报窗口 (earnings season: Apr, Aug, Oct)
+- 重要会议 (重要会议: 政治局会议, 中央经济工作会议)
+- 行业监管政策 (sector regulation: 集采, 反垄断, etc.)
+- 外资流入 (foreign inflow via 沪深港通)
+
+## Quality Checks
+
+Before delivering:
+- [ ] Market data current and accurate
+- [ ] Overnight developments captured
+- [ ] Trade ideas actionable and time-relevant
+- [ ] Event calendar complete
+- [ ] Risk factors included
+- [ ] Tone appropriate for morning meeting format