@v587d/capital-generation 2.7.2 → 2.7.4

package/selected-skills/claude-for-financial-services-cn/vertical-plugins/private-equity/skills/china-unit-economics/SKILL.md

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+---
+name: china-unit-economics
+description: Unit economics analysis for China-focused portfolio companies. Adapted from the original unit-economics skill for Chinese business models, pricing, and market dynamics. Triggers on "A股单位经济模型", "单元经济模型", "unit economics China", "unit economics [company]", "LTV/CAC China", or "Cohort analysis [company]".
+---
+
+# china-unit-economics
+
+## Purpose
+
+Analyze **A股及中国市场单元经济模型** — per-unit economics, customer economics, and cohort analysis for portfolio companies.
+
+## Key Metrics
+
+### Core Framework (Same as Global)
+
+| Metric | Formula | Target |
+|--------|---------|--------|
+| LTV (Customer Lifetime Value) | ARPU × Lifetime × Gross Margin | >3x CAC |
+| CAC (Customer Acquisition Cost) | Sales & Marketing / New Customers | <12-month payback |
+| LTV/CAC | LTV / CAC | >3.0x |
+| CAC Payback (months) | CAC / (ARPU × Gross Margin %) | <12 months |
+| NRR (Net Revenue Retention) | (Start + Expansion - Churn) / Start | >100% |
+| GRR (Gross Revenue Retention) | (Start - Churn) / Start | >85% |
+| ARR | Annual Recurring Revenue | Growing |
+| Churn Rate | Lost customers / Total | <5% monthly |
+
+### China-Specific Metrics
+
+| Metric | Description | China Context |
+|--------|-------------|---------------|
+| 获客成本 | CAC in Chinese context | 线上投放 + 线下渠道 |
+| 用户生命周期价值 | LTV for Chinese consumers | Higher for tier-1 |
+| 复购率 | Repeat purchase rate | Critical for DTC brands |
+| 客单价 | Average order value | 价格敏感 market |
+| 渠道成本 | Channel economics | 经销商 vs DTC |
+| 补贴依赖 | Subsidy / discount dependence | Common in China |
+
+## Data Sources
+
+### Primary: iFind MCP (Tier-1 付费) / AkShare MCP (Tier-2 免费备选)
+
+```python
+# For public companies, extract proxies
+get_financials(ticker, "income")    → Revenue, opex
+get_financials(ticker, "balance")   → Customer-related assets
+get_financials(ticker, "cashflow")  → Cash flow
+```
+
+### Secondary Sources
+- 巨潮 — company filings with segment data
+- 管理层指引 — management guidance
+- 券商研报 — unit economics estimates
+- 行业数据 — industry benchmarks
+
+## Workflow
+
+### Step 1: Define Unit Economics Model
+
+**Business model identification:**
+
+| Business Model | Unit Definition | Revenue Model |
+|----------------|-----------------|---------------|
+| 消费品 | 每单 / 每用户 | Transaction |
+| SaaS | 每客户 (年) | Subscription |
+| 电商 | 每订单 / 每用户 | Transaction |
+| 制造业 | 每件 / 每吨 | Unit sales |
+| 平台 | 每GMV / 每交易 | Take rate |
+| 广告 | 每曝光 / 每点击 | CPM / CPC |
+
+### Step 2: Build Unit Economics Model
+
+**Standard model:**
+
+```python
+# Unit economics calculation
+Unit_Price = XX元
+Unit_Cost = XX元 (COGS)
+Unit_Contribution = Unit_Price - Unit_Cost
+
+# Customer economics (for subscription/DTC)
+CAC = XX元 (acquisition cost per customer)
+ARPU = XX元/年 (average revenue per user)
+Gross_Margin = XX%
+Customer_Lifetime = X年 (or 1/churn rate)
+LTV = ARPU × Lifetime × Gross_Margin
+LTV_CAC = LTV / CAC
+Payback_Months = CAC / (ARPU × Gross_Margin / 12)
+```
+
+### Step 3: Cohort Analysis
+
+**Cohort table (retention):**
+
+| Cohort | Month 0 | Month 1 | Month 2 | Month 3 | Month 6 | Month 12 |
+|--------|---------|---------|---------|---------|---------|----------|
+| Jan | 100% | XX% | XX% | XX% | XX% | XX% |
+| Feb | 100% | XX% | XX% | XX% | XX% | XX% |
+| Mar | 100% | XX% | XX% | XX% | XX% | XX% |
+
+**Cohort revenue:**
+
+| Cohort | Month 0 | Month 1 | Month 2 | Month 3 | Month 6 | Month 12 |
+|--------|---------|---------|---------|---------|---------|----------|
+| Jan | ¥X | ¥X | ¥X | ¥X | ¥X | ¥X |
+| Feb | ¥X | ¥X | ¥X | ¥X | ¥X | ¥X |
+
+### Step 4: Benchmarking
+
+**China-specific benchmarks by industry:**
+
+| Industry | CAC Payback | LTV/CAC | Typical ARPU |
+|----------|-------------|---------|--------------|
+| 消费品牌 | 6-12 months | 3-5x | ¥200-500 |
+| SaaS (ToB) | 12-18 months | 3-5x | ¥5,000-50,000 |
+| 电商 | 1-3 months | 2-4x | ¥100-300 |
+| 游戏 | 1-2 months | 4-10x | ¥50-200 |
+| 在线教育 | 3-6 months | 2-4x | ¥1,000-5,000 |
+| 金融科技 | 6-12 months | 3-5x | ¥500-2,000 |
+
+### Step 5: Sensitivity Analysis
+
+**Key sensitivities:**
+
+| Variable | -20% | -10% | Base | +10% | +20% |
+|----------|------|------|------|------|------|
+| ARPU | | | | | |
+| Gross margin | | | | | |
+| Customer lifetime | | | | | |
+| CAC | | | | | |
+
+### Step 6: Recommendations
+
+**Based on unit economics:**
+
+| LTV/CAC | Assessment | Recommendation |
+|---------|------------|---------------|
+| >5x | Excellent | Scale aggressively |
+| 3-5x | Good | Scale with monitoring |
+| 2-3x | Acceptable | Optimize CAC/margin |
+| 1-2x | Poor | Fix model before scaling |
+| <1x | Broken | Fundamental rethink |
+
+## China-Specific Considerations
+
+### Customer Acquisition in China
+
+| Channel | CAC | Quality | Notes |
+|---------|-----|---------|-------|
+| 线上投放 (Online ads) | Medium | Variable | 抖音, 小红书, 百度 |
+| 社交裂变 (Social referral) | Low | Medium | 拼多多 model |
+| 经销商 (Distribution) | Low | Depends | 渠道下沉 |
+| 线下门店 (Offline stores) | High | High | Premium experience |
+| 直播带货 (Livestream) | Medium | Variable | 抖音, 淘宝直播 |
+| 私域运营 (Private traffic) | Low | High | WeChat ecosystem |
+
+### China Consumer Behavior
+
+| Behavior | Impact on Unit Economics |
+|----------|-------------------------|
+| 价格敏感 | Lower ARPU, higher churn on price increases |
+| 社交驱动 | Viral referral reduces CAC |
+| 品牌忠诚度 | Higher LTV for established brands |
+| 渠道偏好 | Multi-channel complexity |
+| 促销依赖 | Revenue quality concerns |
+
+### E-commerce Unit Economics
+
+**Key metrics for China e-commerce:**
+
+| Metric | Formula | Benchmark |
+|--------|---------|-----------|
+| GMV | Gross merchandise value | Top-line |
+| Take rate | Revenue / GMV | 3-10% |
+| Customer acquisition | CAC / order | ¥20-200 |
+| Return rate | Returns / orders | 5-20% (sector varies) |
+| AOV | Revenue / orders | ¥50-500 |
+| Fulfillment cost | Logistics / order | ¥5-30 |
+
+## Quality Checks
+
+Before delivering:
+- [ ] Unit defined clearly
+- [ ] Revenue model correct
+- [ ] CAC/LTV calculated correctly
+- [ ] Cohort data (if available) incorporated
+- [ ] Benchmarking relevant
+- [ ] Sensitivities run
+- [ ] Recommendations actionable
+> **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, wind-only (Wind only), wind-fallback (Wind first, fallback to iFind → AkShare)`: Skip iFind, use AkShare only

package/selected-skills/claude-for-financial-services-cn/vertical-plugins/private-equity/skills/china-value-creation-plan/SKILL.md

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+---
+name: china-value-creation-plan
+description: Post-close value creation plans for China-focused portfolio companies. Adapted from the original value-creation-plan skill for Chinese business context, management practices, and market dynamics. Triggers on "A股投后增值", "价值提升计划", "value creation plan China", "100-day plan China", "portfolio value creation", or "value creation [company]".
+---
+
+# china-value-creation-plan
+
+## Purpose
+
+Develop **A股投后价值提升计划** — structured value creation roadmaps for China-focused portfolio companies.
+
+## Data Sources
+
+### Primary: iFind MCP (Tier-1 付费) / AkShare MCP (Tier-2 免费备选)
+
+```python
+get_quote(ticker)                        → Current valuation
+get_financials(ticker, "income")         → Financial baseline
+get_industry_stocks(industry="...")       → Peer benchmarks
+```
+
+### Secondary Sources
+- 巨潮 — company filings
+- 券商研报 — sector analysis
+- Wind / Choice — operational data
+
+## Workflow
+
+### Step 1: Baseline Assessment
+
+**Current state analysis:**
+
+| Dimension | Current State | Gap to Best-in-Class |
+|-----------|--------------|---------------------|
+| Revenue growth | [X%] | [X%] |
+| Gross margin | [X%] | [X%] |
+| EBITDA margin | [X%] | [X%] |
+| ROE | [X%] | [X%] |
+| Working capital | [X days] | [X days] |
+| Capex efficiency | [X% of rev] | [X% of rev] |
+
+### Step 2: Identify Value Creation Levers
+
+**Standard levers (adapted for China):**
+
+| Lever | Description | Typical Impact | Timeline |
+|-------|-------------|---------------|----------|
+| 营收增长 | Organic growth acceleration | 20-50% revenue uplift | 12-36 months |
+| 毛利率优化 | Pricing, mix, cost reduction | 300-800 bps | 6-18 months |
+| 运营效率 | Working capital, OpEx | 100-300 bps margin | 6-18 months |
+| 渠道拓展 | New channels, geographies | 15-30% revenue | 12-24 months |
+| 并购整合 | Add-on acquisitions | 20-50% value | 12-36 months |
+| 成本优化 | Headcount, procurement | 10-20% OpEx | 6-12 months |
+| 数字化 | Digital transformation | 20-40% efficiency | 12-36 months |
+| 品牌升级 | Premium positioning | 10-20% pricing | 12-24 months |
+| 国际化 | Overseas expansion | New growth vector | 24-48 months |
+| 资本运作 | Refinancing, restructuring | Cost savings | 6-12 months |
+
+### Step 3: 100-Day Plan
+
+**First 100 days post-close:**
+
+| Week | Priority | Action | Expected Outcome |
+|------|----------|--------|-----------------|
+| 1-2 | Management alignment | Management calls, strategy session | Aligned priorities |
+| 3-4 | Financial deep dive | Detailed financial analysis | Identified quick wins |
+| 5-8 | Operational assessment | Site visits, process review | Improvement roadmap |
+| 9-12 | Quick wins execution | Low-hanging fruit | Early wins, momentum |
+
+**Quick wins (high impact, low effort):**
+- Working capital optimization
+- Non-core asset disposal
+- Supplier renegotiation
+- Pricing optimization
+- Headcount rationalization
+
+### Step 4: 3-Year Value Creation Roadmap
+
+**Year 1: Foundation**
+
+| Quarter | Focus | Key Initiatives |
+|---------|-------|-----------------|
+| Q1 | Stabilize | Management retention, quick wins |
+| Q2 | Optimize | Cost reduction, working capital |
+| Q3 | Grow | Revenue acceleration, new products |
+| Q4 | Review | Progress check, plan adjustment |
+
+**Year 2: Acceleration**
+
+| Quarter | Focus | Key Initiatives |
+|---------|-------|-----------------|
+| Q1 | Scale | Channel expansion, capacity |
+| Q2 | Innovate | R&D investment, new products |
+| Q3 | Expand | Geographic / segment expansion |
+| Q4 | Consolidate | M&A, integration |
+
+**Year 3: Exit Preparation**
+
+| Quarter | Focus | Key Initiatives |
+|---------|-------|-----------------|
+| Q1 | Optimize | Final push on margins |
+| Q2 | Clean up | Balance sheet optimization |
+| Q3 | Prepare | IPO / sale readiness |
+| Q4 | Execute | Exit execution |
+
+### Step 5: Financial Impact Model
+
+**Value creation waterfall:**
+
+| Value Driver | Impact (亿) | Probability |
+|-------------|-------------|-------------|
+| Revenue growth | +X | High/Med/Low |
+| Margin expansion | +X | High/Med/Low |
+| Multiple expansion | +X | High/Med/Low |
+| De-leveraging | +X | High/Med/Low |
+| **Total Value Creation** | **+X** | |
+
+**EBITDA bridge:**
+
+| Item | Year 0 | Year 1 | Year 2 | Year 3 |
+|------|--------|--------|--------|--------|
+| Baseline EBITDA | | | | |
+| Revenue growth | | +X | +X | +X |
+| Margin improvement | | +X | +X | +X |
+| Cost savings | | +X | +X | +X |
+| M&A | | +X | | |
+| **Target EBITDA** | | | | |
+
+### Step 6: Monitoring & Governance
+
+**KPIs to track:**
+
+| KPI | Frequency | Target |
+|-----|-----------|--------|
+| Revenue growth | Monthly | >XX% |
+| EBITDA margin | Quarterly | >XX% |
+| Customer acquisition | Monthly | <¥XX |
+| Cash conversion | Quarterly | >XX% |
+| Market share | Semi-annual | Top X |
+
+**Governance structure:**
+- Board seats (董事会席位)
+- Monthly/quarterly reporting
+- Management incentive alignment (管理层激励)
+- Annual strategy review
+
+## China-Specific Value Creation
+
+### Management Alignment
+
+| Tool | Application in China |
+|------|---------------------|
+| 管理层股权激励 (ESOP) | 期权, 限制性股票, 虚拟股 |
+| 跟投机制 | Management co-investment |
+| 对赌协议 (VAM) | Performance-based earnout |
+| 董事会席位 | Board representation |
+| 重大事项一票否决 | Veto rights on key decisions |
+
+### Common Improvement Areas
+
+| Area | Typical Challenge | Solution |
+|------|------------------|----------|
+| 财务管理 | Weak FP&A, cash management | Implement financial controls |
+| 销售体系 | Chaotic channel management | Systematic channel strategy |
+| 生产管理 | Low efficiency, high waste | Lean manufacturing |
+| 数字化 | Legacy IT systems | ERP, CRM implementation |
+| 人才管理 | Limited management depth | External hires, training |
+| 公司治理 | Related party issues | Governance overhaul |
+
+### China Market Considerations
+
+| Factor | Value Creation Impact |
+|--------|----------------------|
+| 政策周期 | Align value creation with policy cycles |
+| 市场规模 | TAM still large in many sectors |
+| 竞争格局 | Consolidation opportunities |
+| 数字化 | Leapfrog opportunities |
+| 国际化 | Export potential for many sectors |
+
+## Quality Checks
+
+Before delivering:
+- [ ] Baseline data current and accurate
+- [ ] Value creation levers realistic
+- [ ] Financial impact quantified
+- [ ] Timeline achievable
+- [ ] KPIs measurable
+- [ ] Governance structure defined
+- [ ] Risk factors addressed
+> **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/wealth-management/skills/china-client-report/SKILL.md

@@ -0,0 +1,205 @@
+---
+name: china-client-report
+description: Generate client-facing performance reports for Chinese wealth management clients. Adapted from the original client-report skill for A-share portfolios, Chinese regulatory requirements, and local reporting conventions. Triggers on "A股客户报告", "客户持仓报告", "client report China", "wealth report A-share", "客户业绩报告", or "portfolio report for [client]".
+---
+
+# china-client-report
+
+## Purpose
+
+Create professional **A股财富管理客户报告** — performance reports for Chinese wealth management clients.
+
+## Data Sources
+
+### Primary: iFind MCP (Tier-1 付费) / AkShare MCP (Tier-2 免费备选)
+
+```python
+get_index_data("000001")              → 上证指数 benchmark
+get_index_data("399006")              → 创业板指 benchmark
+get_index_data("000300")              → 沪深300 benchmark
+get_quote(ticker)                     → Individual security performance
+get_fund_data(fund_code)              → Fund performance
+```
+
+### Secondary Sources
+- 基金公司 — fund data
+- Wind / Choice — comprehensive market data
+- 晨星中国 — fund ratings
+
+## Workflow
+
+### Step 1: Portfolio Snapshot
+
+**Client portfolio summary:**
+
+| Metric | Value | Change |
+|--------|-------|--------|
+| Total AUM (总资产) | ¥XX.X万 | ±X% |
+| Market value | ¥XX.X万 | ±X% |
+| Cash position | ¥XX.X万 | |
+| YTD return | X.XX% | |
+| Since inception | X.XX% (annualized) | |
+| Benchmark (沪深300) | X.XX% | |
+
+### Step 2: Performance Attribution
+
+**Performance by asset class:**
+
+| Asset Class | Allocation | Market Value | Period Return | Contribution |
+|-------------|-----------|--------------|---------------|-------------|
+| A股股票 | XX% | ¥XX | X.XX% | X.XX% |
+| 基金 | XX% | ¥XX | X.XX% | X.XX% |
+| 债券 | XX% | ¥XX | X.XX% | X.XX% |
+| 现金/理财 | XX% | ¥XX | X.XX% | X.XX% |
+| **Total** | **100%** | | **X.XX%** | |
+
+**Performance by sector:**
+
+| Sector | Allocation | Return | Contribution |
+|--------|-----------|--------|-------------|
+| 消费 | XX% | X.XX% | X.XX% |
+| 科技 | XX% | X.XX% | X.XX% |
+| 医药 | XX% | X.XX% | X.XX% |
+| 金融 | XX% | X.XX% | X.XX% |
+| 新能源 | XX% | X.XX% | X.XX% |
+| 其他 | XX% | X.XX% | X.XX% |
+
+### Step 3: Holdings Review
+
+**Top positions:**
+
+| Security | Ticker | Allocation | Market Value | Period Return | vs Benchmark |
+|----------|--------|-----------|--------------|---------------|-------------|
+| | | | | | |
+
+**Positions with significant changes:**
+- New positions added
+- Positions sold
+- Significant gainers (>20%)
+- Significant losers (>15%)
+
+### Step 4: Market Context
+
+**Market environment:**
+
+```
+一、市场回顾
+   上证指数: [Close] ([Change]%)
+   深证成指: [Close] ([Change]%)
+   创业板指: [Close] ([Change]%)
+   
+   市场特征:
+   - 成交量: [XX亿]
+   - 北向资金: [净买入/净卖出 XX亿]
+   - 领涨板块: [List]
+   - 领跌板块: [List]
+
+二、宏观要闻
+   - [Key macro developments]
+   - [Policy changes]
+   - [Market-moving events]
+```
+
+### Step 5: Commentary
+
+**Performance commentary:**
+
+```
+一、整体表现
+   [Period return, benchmark comparison, attribution summary]
+
+二、主要贡献
+   [Top contributors to performance]
+
+三、主要拖累
+   [Biggest detractors from performance]
+
+四、操作回顾
+   [Trading activity summary]
+
+五、市场展望
+   [Brief market outlook]
+```
+
+### Step 6: Recommendations
+
+**Forward-looking recommendations:**
+
+| Action | Rationale | Priority |
+|--------|-----------|----------|
+| | | High / Medium / Low |
+
+### Step 7: Format & Delivery
+
+**Standard Chinese client report format:**
+
+```
+【XX财富】客户投资报告 [Period]
+客户名称：[Client Name]
+报告期：[Period]
+
+一、账户概览
+   [Portfolio snapshot table]
+
+二、业绩表现
+   [Performance attribution]
+
+三、持仓分析
+   [Holdings review]
+
+四、市场回顾
+   [Market context]
+
+五、投研观点
+   [Commentary]
+
+六、展望与建议
+   [Outlook and recommendations]
+```
+
+## China-Specific Considerations
+
+### Benchmark Selection
+
+| Client Profile | Appropriate Benchmark |
+|---------------|----------------------|
+| A股均衡 | 沪深300 |
+| A股成长 | 创业板指 |
+| A股价值 | 中证红利 |
+| 偏债混合 | 沪深300 × 60% + 中债 × 40% |
+| 基金组合 | 基金业绩基准加权 |
+
+### Regulatory Disclosures
+
+**Required disclosures (China):**
+- 过往业绩不预示未来表现
+- 投资有风险, 入市需谨慎
+- 管理人责任声明
+- 风险等级匹配 (适当性)
+- 费率披露
+
+### Common A-share Client Concerns
+
+| Concern | Typical Response |
+|---------|-----------------|
+| 账户亏损 | Explain market cycle, quality of holdings |
+| 净值波动 | Normal for equity investing |
+| 为什么买/卖 | Investment rationale |
+| 市场方向 | Tactical positioning |
+| 个股风险 | Risk management process |
+| 赎回 | Liquidity, timing considerations |
+
+## Quality Checks
+
+Before delivering:
+- [ ] All holdings accurately reflected
+- [ ] Performance calculations correct
+- [ ] Attribution complete
+- [ ] Market context accurate
+- [ ] Commentary balanced
+- [ ] Recommendations appropriate
+- [ ] Regulatory disclosures included
+> **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