feat(equity-research): Add AI-powered company research agent plugin - feat(equity-research): 新增 AI 驱动的公司研究报告 Agent 插件

equity-research/docs/company-research-compliance-checklist.md

@@ -0,0 +1,35 @@
+# Company Research Compliance Checklist
+
+Use this checklist before a report draft is considered complete.
+
+## Must Pass
+
+- report does not contain a formal rating by default
+- report does not contain a target price by default
+- source or scope disclosure is present
+- `数据来源与口径说明` section exists
+- if degraded mode applies, the missing-data disclosure is explicit
+- no core conclusion is supported only by news/media
+
+### Citation density (inline references)
+
+- [ ] Class A (首次覆盖): 正文行内引用数量 ≥ 10
+- [ ] Class B (更新报告): 正文行内引用数量 ≥ 5
+- [ ] Class C/D (一般分析/简报): 正文行内引用数量 ≥ 3
+- [ ] 每个财务表格中的来源列无空白（或标注 N/A 并在口径说明中解释）
+- [ ] 估值可比公司数据有来源标注
+
+## Fail Conditions
+
+Fail the report if any of the following is true:
+
+- prohibited default rating language appears
+- target price appears without explicit user request
+- major claims lack attributable support
+- degraded mode was required but not disclosed
+- **Class A inline citations < 5** (hard floor, even below the ≥10 target)
+- **财务表格来源列有空白且无 N/A 标注**
+
+## Completion Gate
+
+Compliance passes only if all must-pass items are satisfied.

equity-research/docs/company-research-degraded-mode.md

@@ -0,0 +1,139 @@
+# Company Research Degraded Mode Policy
+
+This document defines how the company research report agent must behave when evidence is incomplete, stale, or conflicting.
+
+The purpose is to prevent fabricated confidence and keep the output honest and useful.
+
+## Principle
+
+If the agent lacks the evidence needed for a full report, it must downgrade the output rather than improvise.
+
+## When To Trigger Degraded Mode
+
+Trigger degraded mode when any of the following is true:
+
+- the company cannot be uniquely identified
+- there is no current official disclosure source
+- current financial data is missing
+- source conflicts affect core facts
+- peer group cannot be established with reasonable support
+- valuation inputs are missing or unreliable
+
+## Section-Level Degradation (Class A initiating coverage)
+
+Not all evidence gaps require full-report degradation. The following triggers cause **section-level degradation** while the overall report can remain Level A:
+
+| Trigger | Affected section | Degradation behavior |
+|---------|-----------------|---------------------|
+| Comparable company data unavailable | §7.5.1 可比公司法 | Section appears with note: "数据不足，无法建立可比框架。缺失：[具体数据项]" |
+| Only 1 fiscal year of financial data | §5 财务分析 | Section appears with reduced table (1 year only), note: "仅获取1个完整财年数据，趋势分析受限" |
+| Revenue breakdown unavailable | §4 业务与竞争力分析 | Section notes: "收入结构未披露，以下分析基于合并口径" |
+| Scenario assumptions lack quantitative basis | §7.5.3 情景分析 | Section appears with qualitative-only scenarios, note: "定量数据不足，仅提供定性情景描述" |
+| Operating KPI historical data unavailable | §5.3 运营 KPI | Section notes: "核心运营指标历史数据不可得，无法展示趋势" |
+
+**Rule: Sections must never be silently omitted.** A degraded section with an explicit data-gap note is always preferred over a missing section.
+
+## Output Levels
+
+### Level A: Full report allowed
+
+Conditions:
+
+- sufficient primary disclosure exists
+- current financial data exists
+- source conflicts are minor or resolved
+
+Output:
+
+- full draft report
+- source appendix
+- standard summary
+
+### Level B: Analysis note only
+
+Conditions:
+
+- company is identifiable
+- some official information exists
+- but evidence is insufficient for a full report
+
+Output:
+
+- short-form company analysis note
+- missing-data disclosure
+- no strong valuation conclusion
+
+### Level C: Clarification required
+
+Conditions:
+
+- company identity unclear
+- disclosure unavailable
+- request too ambiguous
+
+Output:
+
+- request clarification
+- list missing inputs
+- do not generate report content
+
+## Mandatory Degraded Disclosures
+
+Whenever degraded mode is triggered, the output must state:
+
+- what information is missing
+- why that matters
+- what was still possible to analyze
+- what the user can provide or what source needs to be added
+
+## Forbidden In Degraded Mode
+
+Do not output:
+
+- formal rating
+- target price
+- precise unsupported financial projections
+- unsupported peer conclusions
+- fake certainty language
+
+Avoid:
+
+- `明确将`
+- `必然`
+- `确定会`
+- `强烈看好`
+
+Prefer:
+
+- `当前证据不足以支持`
+- `需继续补充`
+- `现阶段判断偏审慎`
+- `以下结论仅基于有限公开信息`
+
+## Minimum Templates By Mode
+
+### Level B template
+
+Must include:
+
+1. `当前可得结论`
+2. `已确认事实`
+3. `暂无法确认的关键问题`
+4. `需补充的数据或资料`
+5. `初步风险提示`
+
+### Level C template
+
+Must include:
+
+1. `当前无法开始完整分析`
+2. `原因`
+3. `需要补充的信息`
+
+## Completion Gate
+
+If degraded mode is triggered, the task is complete only if:
+
+- the correct downgraded format was used
+- the missing-data disclosure is explicit
+- no prohibited output appears

equity-research/docs/company-research-evidence-contract.md

@@ -0,0 +1,213 @@
+# Company Research Evidence Collection Contract
+
+This document defines the minimum evidence package required before the agent may draft a report.
+
+It separates:
+
+- mandatory evidence
+- optional evidence
+- drafting block conditions
+- degraded-mode trigger conditions
+
+## Core Principle
+
+Drafting starts only after the minimum evidence threshold is met.
+
+If the threshold is not met, the agent must switch to degraded mode or request clarification.
+
+## Mandatory Evidence
+
+### Company identity
+
+Required:
+
+- company legal or commonly accepted name
+- ticker if public and available
+- market or listing venue when relevant
+
+Drafting block:
+
+- company identity is ambiguous
+
+### Primary company disclosure
+
+Required:
+
+- at least one official disclosure source
+
+Examples:
+
+- 10-K
+- 10-Q
+- annual report
+- quarterly report
+- exchange announcement
+- official IR presentation
+
+Drafting block:
+
+- no current primary disclosure is available
+
+### Current financial evidence
+
+Required:
+
+- at least one current financial evidence source
+
+Examples:
+
+- latest filing financials
+- official results release
+- structured current company facts
+
+Drafting block:
+
+- no current financial evidence exists
+
+### Financial depth (Class A initiating coverage)
+
+Required:
+
+- at least 2 complete fiscal years of revenue, profit, and cash flow data
+- latest period (quarterly or semi-annual) key metrics
+- if unlisted, at least prospectus or funding round financial summary
+
+Examples:
+
+- FY2023 + FY2024 annual reports with income statement, balance sheet, cash flow
+- latest quarterly filing (10-Q / semi-annual report)
+- pre-IPO prospectus financials
+
+Drafting block:
+
+- zero fiscal years of structured financial data available
+
+Degraded trigger:
+
+- only 1 fiscal year available → report degrades to Level B (analysis note), explicitly labeled
+
+### Revenue breakdown
+
+Required (Class A):
+
+- revenue split by business line, geography, or customer type
+
+Degraded trigger:
+
+- revenue breakdown unavailable → §4 must note "收入结构未披露，以下分析基于合并口径"
+
+### Operating KPIs
+
+Required (Class A):
+
+- at least 2 core operating KPIs with historical data (2+ periods)
+- KPIs should reference `sector-kpis-{sector}.md` when available
+
+### Comparable company data (Class A)
+
+Required:
+
+- at least 3 comparable companies identified
+- core valuation multiples for each (EV/Revenue, EV/EBITDA, P/E as applicable)
+
+Degraded trigger:
+
+- comparable data unavailable → valuation section must note "无法建立可比框架" with specific missing data items, not be omitted
+
+### Company or market context
+
+Required:
+
+- at least one context source
+
+Examples:
+
+- company profile
+- market profile data
+- official company presentation
+- official management communication
+
+### Risk-oriented evidence
+
+Required:
+
+- at least one risk-oriented source or evidence set
+
+Examples:
+
+- filing risk factors
+- recent risk disclosure
+- material event disclosure
+
+## Optional Evidence
+
+Useful but not strictly required for every report:
+
+- earnings transcript
+- external industry dataset
+- peer market data
+- external event/news support
+
+## Additional Requirements By Report Type
+
+### Initiating coverage
+
+Required minimum:
+
+- primary disclosure (at least one official source)
+- financial depth: 2+ fiscal years revenue/profit/cash flow + latest period
+- revenue breakdown by segment/geography/customer
+- 2+ core operating KPIs with historical trend
+- 3+ comparable companies with valuation multiples
+- market/profile context
+- management communication or equivalent
+- risk-oriented evidence
+
+Recommended:
+
+- earnings transcript
+- industry dataset for sector context
+
+### Earnings review / company update
+
+Recommended minimum:
+
+- latest results source
+- recent company announcement or filing
+- current financial evidence
+
+## Drafting Block Conditions
+
+The agent must not generate a full report draft if:
+
+- company identity is unclear
+- official disclosure is unavailable
+- financial evidence is missing
+- core facts are materially conflicting and unresolved
+
+## Degraded-Mode Conditions
+
+The agent may produce only a downgraded note if:
+
+- company identity is clear
+- some official evidence exists
+- but the full-report threshold is not met
+
+## Required Evidence Output Structure
+
+Before drafting, the agent should be able to produce:
+
+1. company identity summary
+2. source inventory
+3. current financial evidence summary
+4. context evidence summary
+5. risk evidence summary
+6. evidence gaps
+
+## Completion Gate
+
+Evidence collection is complete only if:
+
+- mandatory evidence is present or the run has explicitly switched to degraded mode
+- the source inventory is explicit
+- drafting block conditions have been checked