{ "schema": "empire.quant_skills.v1", "generated_at": "2026-09-23T13:58:03.545446+00:00", "demo": false, "quick": true, "modules": { "minvar_hedge": { "skill": "hull-basis-minvar-hedge", "source": "etf_futures_proxy", "proxy_map": { "IF": "510300 沪深300ETF", "IC": "510500 中证500ETF", "IM": "159915 创业板ETF", "TS": "511260 十年国债ETF", "note": "真期货未接时用 ETF 日线代理；乘数为常见合约名义近似" }, "series_meta": { "HS300": { "sina": "sh510300", "name": "沪深300ETF", "role": "spot_index", "symbol": "sh510300", "source": "sina_live", "n_obs": 180, "path": "E:\\Empire\\trading\\data\\historical\\sh510300_1d.csv" }, "ZZ500": { "sina": "sh510500", "name": "中证500ETF", "role": "spot_index", "symbol": "sh510500", "source": "sina_live", "n_obs": 180, "path": "E:\\Empire\\trading\\data\\historical\\sh510500_1d.csv" }, "IM": { "sina": "sz159915", "name": "创业板ETF", "role": "growth_index_proxy_IM", "symbol": "sz159915", "source": "sina_live", "n_obs": 180, "path": "E:\\Empire\\trading\\data\\historical\\sz159915_1d.csv" }, "TS": { "sina": "sh511260", "name": "十年国债ETF", "role": "treasury_futures_proxy_TS", "symbol": "sh511260", "source": "sina_live", "n_obs": 180, "path": "E:\\Empire\\trading\\data\\historical\\sh511260_1d.csv" }, "IF": { "sina": "sh510300", "name": "沪深300ETF", "role": "IF_proxy_same_as_HS300", "symbol": "sh510300", "source": "sina_live", "n_obs": 180, "path": "E:\\Empire\\trading\\data\\historical\\sh510300_1d.csv" }, "IC": { "sina": "sh510500", "name": "中证500ETF", "role": "IC_proxy_same_as_ZZ500", "symbol": "sh510500", "source": "sina_live", "n_obs": 180, "path": "E:\\Empire\\trading\\data\\historical\\sh510500_1d.csv" } }, "pair": { "spot": "HS300", "futures_proxy": "IC", "note": "沪深300用中证500代理交叉对冲" }, "h_star": { "h_star": 0.5576972968032899, "rho": 0.898743702361244, "sigma_s": 0.012430532638808398, "sigma_f": 0.020032126729252312, "n_obs": 60, "window": 60, "method": "rolling_return_regression_equiv", "note": "h*=ρ·σS/σF" }, "contracts_for_1m": { "n_contracts": 356.6752, "n_contracts_round": 357, "side": "short", "factor": 0.5576972968032899, "factor_type": "h_star", "portfolio_value": 1000000.0, "value_per_contract": 1563.6, "formula": "N = factor * V_A / (F * multiplier)" }, "contracts_for_1m_usd": { "n_contracts": 356.6752, "n_contracts_round": 357, "side": "short", "factor": 0.5576972968032899, "factor_type": "h_star", "portfolio_value": 1000000.0, "value_per_contract": 1563.6, "formula": "N = factor * V_A / (F * multiplier)" }, "variance_reduction": 0.8077, "pair_scan": [ { "spot": "HS300", "hedge": "IF", "h_star": 1.0, "rho": 1.0, "variance_reduction": 1.0, "n_obs": 60, "multiplier_assumed": 300.0, "contracts_for_1m_cny": 726, "note": "沪深300现货ETF vs IF代理(同标的自相关对照) [same underlying proxy — diagnostic]", "kind": "index_proxy" }, { "spot": "ZZ500", "hedge": "IC", "h_star": 1.0, "rho": 1.0, "variance_reduction": 1.0, "n_obs": 60, "multiplier_assumed": 200.0, "contracts_for_1m_cny": 640, "note": "中证500 vs IC代理", "kind": "index_proxy" }, { "spot": "IM", "hedge": "IF", "h_star": 1.9988, "rho": 0.9204, "variance_reduction": 0.8471, "n_obs": 60, "multiplier_assumed": 300.0, "contracts_for_1m_cny": 1452, "note": "成长(创业板) vs 大盘IF代理", "kind": "index_proxy" }, { "spot": "HS300", "hedge": "IC", "h_star": 0.5577, "rho": 0.8987, "variance_reduction": 0.8077, "n_obs": 60, "multiplier_assumed": 200.0, "contracts_for_1m_cny": 357, "note": "沪深300用中证500代理交叉对冲", "kind": "index_proxy" }, { "spot": "ZZ500", "hedge": "TS", "h_star": -2.6414, "rho": -0.1669, "variance_reduction": 0.0279, "n_obs": 60, "multiplier_assumed": 10000.0, "contracts_for_1m_cny": -2, "note": "股债：中证500 vs 十年国债ETF", "kind": "index_proxy" }, { "spot": "HS300", "hedge": "TS", "h_star": -1.4143, "rho": -0.144, "variance_reduction": 0.0207, "n_obs": 60, "multiplier_assumed": 10000.0, "contracts_for_1m_cny": -1, "note": "股债：沪深300 vs 十年国债ETF(TS代理)", "kind": "index_proxy" }, { "spot": "IM", "hedge": "TS", "h_star": -3.0272, "rho": -0.1419, "variance_reduction": 0.0201, "n_obs": 60, "multiplier_assumed": 10000.0, "contracts_for_1m_cny": -2, "note": "成长 vs 国债", "kind": "index_proxy" } ], "crypto_pair_scan": [], "best_pair_by_vr": { "spot": "HS300", "hedge": "IF", "h_star": 1.0, "rho": 1.0, "variance_reduction": 1.0, "n_obs": 60, "multiplier_assumed": 300.0, "contracts_for_1m_cny": 726, "note": "沪深300现货ETF vs IF代理(同标的自相关对照) [same underlying proxy — diagnostic]", "kind": "index_proxy" }, "interpretation": "[ETF代理] h*=0.558, ρ=0.899; HS300/IC 对 100 万名义约 357 张(乘数=200.0)；非交易所 IF/IC/TS 真合约，研究用" }, "residual_income": { "skill": "penman-residual-income + buffett-owner-earnings-intrinsic", "source": "riv_screen_best", "inputs": { "symbol": "002612.SZ", "name": "朗姿股份", "roe": 0.2938, "book_value": 7.688, "price": 11.92 }, "riv": { "value": 27.179986782156192, "book_value": 7.688, "residual_pv": 6.225313400905667, "terminal_pv": 13.266673381250527, "required_return": 0.1, "horizon": 5, "implied_upside": 1.2802002334023652, "margin_of_safety": 0.5614420236647965, "path": [ { "t": 1.0, "roe": 0.2938, "bv_begin": 7.688, "ri": 1.4899343999999999, "ri_pv": 1.354485818181818, "bv_end": 9.04324064 }, { "t": 2.0, "roe": 0.2768425, "bv_begin": 9.04324064, "ri": 1.5992292828791999, "ri_pv": 1.3216770932885946, "bv_end": 10.54537264812752 }, { "t": 3.0, "roe": 0.259885, "bv_begin": 10.54537264812752, "ri": 1.6860469058458682, "ri_pv": 1.2667519953763093, "bv_end": 12.189723150522692 }, { "t": 4.0, "roe": 0.24292750000000002, "bv_begin": 12.189723150522692, "ri": 1.7422466555963323, "ri_pv": 1.189977908337089, "bv_end": 13.966454532911854 }, { "t": 5.0, "roe": 0.22597, "bv_begin": 13.966454532911854, "ri": 1.7593542775109061, "ri_pv": 1.0924205857218554, "bv_end": 15.86005437139311 } ] }, "owner_earnings_proxy": { "owner_earnings": 2.2587344, "net_income": 2.2587344, "da": 0.33881015999999997, "maint_capex": 0.33881015999999997, "delta_nwc": 0.0, "note": "maint_capex defaults to D&A when omitted" }, "sizing": { "implied_return_rough": 1.2802002334023652, "required_return": 0.1, "active_weight_clip5pct": 0.05 }, "interpretation": "002612.SZ 朗姿股份: RIV=27.18 vs price=11.92; MOS=0.5614420236647965" }, "riv_screen": { "scanned_financials": 5526, "priced_candidates": 1343, "skipped": { "no_fin": 0, "no_price": 0, "bps": 344, "roe": 15, "roe_band": 3585, "debt": 87, "st": 6, "pb": 146, "price": 0, "mos_nan": 0 }, "summary": { "best": { "symbol": "002612.SZ", "code": "002612", "name": "朗姿股份", "board": "SZ", "price": 11.92, "bps": 7.688, "roe": 0.2938, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 2.2586, "debt_asset_ratio": 53.7861582076, "riv": 27.177, "margin_of_safety": 0.5614, "upside": 1.2799, "pe": 5.278, "pb": 1.578, "required_return": 0.1, "score": 65.577, "report_date": "2026-03-31" }, "median_mos": -1.0654, "count_mos_gt_0": 76, "count_mos_gt_30pct": 14, "count_mos_gt_50pct": 2, "roe_method_counts": { "fy_annual": 1343, "ttm_blend_q1_fy": 0, "period_annualized": 0, "current_as_annual": 0 } }, "top10": [ { "symbol": "002612.SZ", "code": "002612", "name": "朗姿股份", "board": "SZ", "price": 11.92, "bps": 7.688, "roe": 0.2938, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 2.2586, "debt_asset_ratio": 53.7861582076, "riv": 27.177, "margin_of_safety": 0.5614, "upside": 1.2799, "pe": 5.278, "pb": 1.578, "required_return": 0.1, "score": 65.577, "report_date": "2026-03-31" }, { "symbol": "002582.SZ", "code": "002582", "name": "好想你", "board": "SZ", "price": 9.31, "bps": 8.92, "roe": 0.2242, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 2.0, "debt_asset_ratio": 31.9776502852, "riv": 20.404, "margin_of_safety": 0.5437, "upside": 1.1917, "pe": 4.655, "pb": 0.815, "required_return": 0.1, "score": 63.475, "report_date": "2026-03-31" }, { "symbol": "688648.SH", "code": "688648", "name": "中邮科技", "board": "SH", "price": 29.03, "bps": 16.062, "roe": 0.287, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 4.61, "debt_asset_ratio": 36.4652745116, "riv": 54.627, "margin_of_safety": 0.4686, "upside": 0.8817, "pe": 6.297, "pb": 1.832, "required_return": 0.1, "score": 56.499, "report_date": "2026-03-31" }, { "symbol": "000151.SZ", "code": "000151", "name": "中成股份", "board": "SZ", "price": 9.1, "bps": 2.514, "roe": 0.4256, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 1.07, "debt_asset_ratio": 73.7536309509, "riv": 17.048, "margin_of_safety": 0.4662, "upside": 0.8734, "pe": 8.505, "pb": 3.647, "required_return": 0.1, "score": 55.877, "report_date": "2026-03-31" }, { "symbol": "300533.SZ", "code": "300533", "name": "冰川网络", "board": "SZ", "price": 13.91, "bps": 6.526, "roe": 0.3156, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 2.06, "debt_asset_ratio": 44.920491931, "riv": 26.027, "margin_of_safety": 0.4656, "upside": 0.8711, "pe": 6.752, "pb": 3.001, "required_return": 0.1, "score": 54.814, "report_date": "2026-03-31" }, { "symbol": "000913.SZ", "code": "000913", "name": "钱江摩托", "board": "SZ", "price": 10.83, "bps": 10.194, "roe": 0.1832, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 1.8674, "debt_asset_ratio": 45.4966940247, "riv": 17.092, "margin_of_safety": 0.3664, "upside": 0.5782, "pe": 5.8, "pb": 1.07, "required_return": 0.1, "score": 45.06, "report_date": "2026-03-31" }, { "symbol": "920029.BJ", "code": "920029", "name": "开发科技", "board": "BJ", "price": 31.81, "bps": 26.86, "roe": 0.204, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 5.48, "debt_asset_ratio": 25.218653552, "riv": 53.078, "margin_of_safety": 0.4007, "upside": 0.6686, "pe": 5.805, "pb": 1.74, "required_return": 0.1, "score": 44.105, "report_date": "2026-03-31" }, { "symbol": "600704.SH", "code": "600704", "name": "物产中大", "board": "SH", "price": 4.85, "bps": 8.093, "roe": 0.0853, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 0.69, "debt_asset_ratio": 73.3171922947, "riv": 7.679, "margin_of_safety": 0.3684, "upside": 0.5834, "pe": 7.029, "pb": 0.595, "required_return": 0.1, "score": 42.843, "report_date": "2026-03-31" }, { "symbol": "601717.SH", "code": "601717", "name": "中创智领", "board": "SH", "price": 14.73, "bps": 13.547, "roe": 0.1806, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 2.447, "debt_asset_ratio": 48.7970405233, "riv": 22.237, "margin_of_safety": 0.3376, "upside": 0.5097, "pe": 6.02, "pb": 1.05, "required_return": 0.1, "score": 42.09, "report_date": "2026-03-31" }, { "symbol": "600064.SH", "code": "600064", "name": "XD南京高", "board": "SH", "price": 7.3, "bps": 11.038, "roe": 0.0959, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 1.058, "debt_asset_ratio": 46.8769381391, "riv": 10.878, "margin_of_safety": 0.3289, "upside": 0.4901, "pe": 6.9, "pb": 0.64, "required_return": 0.1, "score": 40.452, "report_date": "2026-03-31" } ], "quality_top10": [ { "symbol": "002612.SZ", "code": "002612", "name": "朗姿股份", "board": "SZ", "price": 11.92, "bps": 7.688, "roe": 0.2938, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 2.2586, "debt_asset_ratio": 53.7861582076, "riv": 27.177, "margin_of_safety": 0.5614, "upside": 1.2799, "pe": 5.278, "pb": 1.578, "required_return": 0.1, "score": 65.577, "report_date": "2026-03-31" }, { "symbol": "002582.SZ", "code": "002582", "name": "好想你", "board": "SZ", "price": 9.31, "bps": 8.92, "roe": 0.2242, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 2.0, "debt_asset_ratio": 31.9776502852, "riv": 20.404, "margin_of_safety": 0.5437, "upside": 1.1917, "pe": 4.655, "pb": 0.815, "required_return": 0.1, "score": 63.475, "report_date": "2026-03-31" }, { "symbol": "688648.SH", "code": "688648", "name": "中邮科技", "board": "SH", "price": 29.03, "bps": 16.062, "roe": 0.287, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 4.61, "debt_asset_ratio": 36.4652745116, "riv": 54.627, "margin_of_safety": 0.4686, "upside": 0.8817, "pe": 6.297, "pb": 1.832, "required_return": 0.1, "score": 56.499, "report_date": "2026-03-31" }, { "symbol": "300533.SZ", "code": "300533", "name": "冰川网络", "board": "SZ", "price": 13.91, "bps": 6.526, "roe": 0.3156, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 2.06, "debt_asset_ratio": 44.920491931, "riv": 26.027, "margin_of_safety": 0.4656, "upside": 0.8711, "pe": 6.752, "pb": 3.001, "required_return": 0.1, "score": 54.814, "report_date": "2026-03-31" }, { "symbol": "000913.SZ", "code": "000913", "name": "钱江摩托", "board": "SZ", "price": 10.83, "bps": 10.194, "roe": 0.1832, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 1.8674, "debt_asset_ratio": 45.4966940247, "riv": 17.092, "margin_of_safety": 0.3664, "upside": 0.5782, "pe": 5.8, "pb": 1.07, "required_return": 0.1, "score": 45.06, "report_date": "2026-03-31" }, { "symbol": "920029.BJ", "code": "920029", "name": "开发科技", "board": "BJ", "price": 31.81, "bps": 26.86, "roe": 0.204, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 5.48, "debt_asset_ratio": 25.218653552, "riv": 53.078, "margin_of_safety": 0.4007, "upside": 0.6686, "pe": 5.805, "pb": 1.74, "required_return": 0.1, "score": 44.105, "report_date": "2026-03-31" }, { "symbol": "601717.SH", "code": "601717", "name": "中创智领", "board": "SH", "price": 14.73, "bps": 13.547, "roe": 0.1806, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 2.447, "debt_asset_ratio": 48.7970405233, "riv": 22.237, "margin_of_safety": 0.3376, "upside": 0.5097, "pe": 6.02, "pb": 1.05, "required_return": 0.1, "score": 42.09, "report_date": "2026-03-31" }, { "symbol": "600064.SH", "code": "600064", "name": "XD南京高", "board": "SH", "price": 7.3, "bps": 11.038, "roe": 0.0959, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 1.058, "debt_asset_ratio": 46.8769381391, "riv": 10.878, "margin_of_safety": 0.3289, "upside": 0.4901, "pe": 6.9, "pb": 0.64, "required_return": 0.1, "score": 40.452, "report_date": "2026-03-31" }, { "symbol": "688332.SH", "code": "688332", "name": "中科蓝讯", "board": "SH", "price": 91.88, "bps": 43.826, "roe": 0.2681, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 11.75, "debt_asset_ratio": 7.0993786238, "riv": 133.293, "margin_of_safety": 0.3107, "upside": 0.4507, "pe": 7.82, "pb": 3.106, "required_return": 0.1, "score": 39.608, "report_date": "2026-03-31" }, { "symbol": "920187.BJ", "code": "920187", "name": "通领科技", "board": "BJ", "price": 18.61, "bps": 17.93, "roe": 0.1762, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 3.16, "debt_asset_ratio": 19.4919681722, "riv": 28.36, "margin_of_safety": 0.3438, "upside": 0.5239, "pe": 5.908, "pb": 1.321, "required_return": 0.1, "score": 38.252, "report_date": "2026-03-31" } ], "params": { "required_return": 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"api": "/api/quant-skills/paper-attr", "hard_eq": { "ret_5d": 0.0029, "excess_5d": -0.0059, "hit_rate_5d": 0.667, "n_5d": 3, "ret_20d": -0.0441, "excess_20d": -0.0308, "hit_rate_20d": 0.333, "n_20d": 3, "ret_60d": 0.0084, "excess_60d": 0.09, "hit_rate_60d": 0.667, "n_60d": 3 }, "ensemble_eq": { "ret_5d": 0.0015, "excess_5d": -0.0073, "hit_rate_5d": 0.333, "n_5d": 3, "ret_20d": -0.0126, "excess_20d": 0.0007, "hit_rate_20d": 0.333, "n_20d": 3, "ret_60d": 0.0204, "excess_60d": 0.102, "hit_rate_60d": 0.667, "n_60d": 3 }, "error": null }, "source_strategy_bridge": { "file": "E:\\Empire\\trading\\data\\source_strategy_bridge.json", "api": "/api/quant-skills/source-bridge", "ui": "/#book-strategies", "summary": { "sources_total": 10, "sources_ready": 6, "sources_stale": 4, "sources_missing": 0, "strategies_total": 14, "strategies_ready": 2, "strategies_partial": 7, "skills_library_count": 156, "factor_names": 5313, "hard_intersection_count": 5, "hard_top": { "code": "600064", "symbol": "600064.SH", "name": "XD南京高", "price": 7.3, "pe": 6.9, "pb": 0.64, "riv": 10.878, "margin_of_safety": 0.3289, "roe": 0.0959, "roe_method": "fy_annual", "debt_asset_ratio": 46.8769381391, "belief_score": 3.0664, "composite_z": 1.7117, "n_strategies": 2, "strategies_hit": [ "graham_defensive_value", "quality_value_composite", "dalio_belief_ensemble" ], "structured_sources": [ "graham_defensive_value", "quality_value_composite", "dalio_belief_ensemble" ], "blend_score": 2.1457, "suggested_active_weight": 0.0358, "regime_vol_mult": 0.55, "tier": "hard_intersection", "status": "research_candidate" }, "paper_hard_5d": 0.0029, "paper_hard_excess_5d": -0.0059, "regime": "regime=delever mult=0.55 policy=MP1_rate_active", "advice": "invest_goal_pre_sim" }, "error": null }, "skill_strategy_reports": { "file": "E:\\Empire\\trading\\data\\skill_strategy_reports.json", "api": "/api/quant-skills/skill-reports", "ui": "/#skill-reports", "summary": { "skills_total": 137, "strategy_skills": 125, "ops_tools": 12, "with_q": 77, "status_counts": { "ready": 19, "partial": 62, "spec_only": 38, "blocked": 6 }, "sources_inventory": { "industry_rss": 202, "free_public": 11, "free_public_ready": 10, "empire_local": 20, "empire_local_ready": 14, "source_rows_total": 48, "logical_interfaces": 235 }, "domain_ready": 28, "domain_total": 35, "top_missing_domains": [ "bank_alm", "bond_data", "insurance_float", "fund_flows", "options_greeks", "ownership_mgmt" ], "hard_intersection": [ { "code": "600064", "symbol": "600064.SH", "name": "XD南京高", "price": 7.3, "pe": 6.9, "pb": 0.64, "riv": 10.878, "margin_of_safety": 0.3289, "roe": 0.0959, "roe_method": "fy_annual", "debt_asset_ratio": 46.8769381391, "belief_score": 3.0664, "composite_z": 1.7117, "n_strategies": 2, "strategies_hit": [ "graham_defensive_value", "quality_value_composite", "dalio_belief_ensemble" ], "structured_sources": [ "graham_defensive_value", "quality_value_composite", "dalio_belief_ensemble" ], "blend_score": 2.1457, "suggested_active_weight": 0.0358, "regime_vol_mult": 0.55, "tier": "hard_intersection", "status": "research_candidate" }, { "code": "002582", "symbol": "002582.SZ", "name": "好想你", "price": 9.31, "pe": 4.655, "pb": 0.815, "riv": 20.404, "margin_of_safety": 0.5437, "roe": 0.2242, "roe_method": "fy_annual", "debt_asset_ratio": 31.9776502852, "belief_score": null, "composite_z": 1.6406, "n_strategies": 0, "strategies_hit": [ "graham_defensive_value" ], "structured_sources": [ "graham_defensive_value" ], "blend_score": 1.6975, "suggested_active_weight": 0.0275, "regime_vol_mult": 0.55, "tier": "hard_intersection", "status": "research_candidate" }, { "code": "688648", "symbol": "688648.SH", "name": "中邮科技", "price": 29.03, "pe": 6.297, "pb": 1.832, "riv": 54.627, "margin_of_safety": 0.4686, "roe": 0.287, "roe_method": "fy_annual", "debt_asset_ratio": 36.4652745116, "belief_score": null, "composite_z": 0.8108, "n_strategies": 0, "strategies_hit": [ "xiaoxing_good_company_finance" ], "structured_sources": [ "xiaoxing_good_company_finance" ], "blend_score": 1.3399, "suggested_active_weight": 0.0275, "regime_vol_mult": 0.55, "tier": "hard_intersection", "status": "research_candidate" }, { "code": "920187", "symbol": "920187.BJ", "name": "通领科技", "price": 18.61, "pe": 5.908, "pb": 1.321, "riv": 28.358, "margin_of_safety": 0.3437, "roe": 0.1762, "roe_method": "fy_annual", "debt_asset_ratio": 19.4919681722, "belief_score": null, "composite_z": 1.0731, "n_strategies": 0, "strategies_hit": [ "quality_value_composite" ], "structured_sources": [ "quality_value_composite" ], "blend_score": 1.1557, "suggested_active_weight": 0.0275, "regime_vol_mult": 0.55, "tier": "hard_intersection", "status": "research_candidate" }, { "code": "688332", "symbol": "688332.SH", "name": "中科蓝讯", "price": 91.88, "pe": 7.82, "pb": 3.106, "riv": 133.293, "margin_of_safety": 0.3107, "roe": 0.2681, "roe_method": "fy_annual", "debt_asset_ratio": 7.0993786238, "belief_score": null, "composite_z": 0.845, "n_strategies": 0, "strategies_hit": [ "xiaoxing_good_company_finance" ], "structured_sources": [ "xiaoxing_good_company_finance" ], "blend_score": 1.0326, "suggested_active_weight": 0.0275, "regime_vol_mult": 0.55, "tier": "hard_intersection", "status": "research_candidate" } ], "advice": "invest_goal_pre_sim" }, "error": null }, "fred_macro_panel": { "file": "E:\\Empire\\trading\\data\\fred_macro_panel.json", "api": "/api/quant-skills/fred-panel", "ui": "/#quant-lab", "summary": { "series_ready": 12, "series_total": 12, "curve_regime": "normal", "credit_regime": "tight", "t10y2y": 0.36, "baa_aaa": 0.4800000000000004, "hy_oas": 2.77, "credit_spread_z": -1.2369563839708841, "usdcny": 6.776, "vix": 18.7 }, "domains_ready": { "rates_yield_curve": true, "credit_spreads": true, "fx": true, "vol_surface": true, "macro_fred": true }, "error": null } }, "portfolio_bridge": { "advice": "research_only", "apply_vol_mult_to_strategies": 0.55, "hedge_h_star": 0.5576972968032899, "best_hedge_pair": { "spot": "HS300", "hedge": "IF", "h_star": 1.0, "rho": 1.0, "variance_reduction": 1.0, "n_obs": 60, "multiplier_assumed": 300.0, "contracts_for_1m_cny": 726, "note": "沪深300现货ETF vs IF代理(同标的自相关对照) [same underlying proxy — diagnostic]", "kind": "index_proxy" }, "hedge_source": "etf_futures_proxy", "riv_margin_of_safety": 0.5614420236647965, "riv_screen_top1": { "symbol": "002612.SZ", "code": "002612", "name": "朗姿股份", "board": "SZ", "price": 11.92, "bps": 7.688, "roe": 0.2938, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 2.2586, "debt_asset_ratio": 53.7861582076, "riv": 27.177, "margin_of_safety": 0.5614, "upside": 1.2799, "pe": 5.278, "pb": 1.578, "required_return": 0.1, "score": 65.577, "report_date": "2026-03-31" }, "riv_screen_raw_top1": { "symbol": "002612.SZ", "code": "002612", "name": "朗姿股份", "board": "SZ", "price": 11.92, "bps": 7.688, "roe": 0.2938, "roe_method": "fy_annual", "roe_source_date": "2025-12-31", "roe_annualized": false, "period_annualize_factor": 1.0, "eps": 2.2586, "debt_asset_ratio": 53.7861582076, "riv": 27.177, "margin_of_safety": 0.5614, "upside": 1.2799, "pe": 5.278, "pb": 1.578, "required_return": 0.1, "score": 65.577, "report_date": "2026-03-31" }, "riv_screen_file": "E:\\Empire\\trading\\data\\riv_screen_top.json", "candidate_pool_file": "E:\\Empire\\trading\\data\\riv_candidate_pool.json", "candidate_pool_count": 20, "strategy_screens_file": "E:\\Empire\\trading\\data\\strategy_screens_snapshot.json", "research_pool_file": "E:\\Empire\\trading\\data\\research_candidate_pool.json", "research_hard_count": 5, "paper_attribution_file": "E:\\Empire\\trading\\data\\paper_attribution_snapshot.json", "source_strategy_bridge_file": "E:\\Empire\\trading\\data\\source_strategy_bridge.json", "source_strategy_bridge_md": "E:\\market\\_Codex\\source_strategy_bridge_report_20260717.md", "skill_strategy_reports_file": "E:\\Empire\\trading\\data\\skill_strategy_reports.json", "skill_strategy_status": { "ready": 19, "partial": 62, "spec_only": 38, "blocked": 6 }, "next": [ "ETF 已代理 IF/IC/TS；有交易所真期货权限时可替换 etf_kline 数据源", "RIV 优先 FY/TTM blend；候选池见 riv_candidate_pool.json", "书中策略筛：strategy_screens_snapshot.json（Net-Net/EPV/防御清单/覆盖代理/应计/RNOA/风险平价/可信度交叉）", "因子层：strategy_factors_snapshot.json（15 因子 z 矩阵 tops）", "结构化策略：structured_strategies_snapshot.json（加权因子书 + 达利欧集成）", "研究池：research_candidate_pool.json（RIV ∩ structured）", "paper 归因：paper_attribution_snapshot.json（trailing 5/20/60d vs HS300）", "源×策略桥接：source_strategy_bridge.json + 8765 #book-strategies", "全量 skill 报告：skill_strategy_reports.json + 8765 #skill-reports + Obsidian Skill策略报告/", "原则机器：process_agreement / dalio_belief_ensemble → suggested_active_weight * regime_mult", "宏观输入见 macro_inputs（本地 snapshot + 可选新浪汇率）" ], "strategy_factors_file": "E:\\Empire\\trading\\data\\strategy_factors_snapshot.json", "structured_strategies_file": "E:\\Empire\\trading\\data\\structured_strategies_snapshot.json" }, "skills_source": [ "hull-basis-minvar-hedge", "penman-residual-income", "buffett-owner-earnings-intrinsic", "dalio-debt-cycle-stage", "graham-net-net-ncaV", "graham-earnings-power-value", "graham-quantitative-screening", "graham-bond-selection-coverage", "stickney-cash-vs-accrual-screen", "penman-rnoa-leverage-split", "bodie-risk-parity-budget", "dalio-belief-weighted-decisions", "dalio-five-step-process-market", "graham-stability-quality-gate" ] }