{
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"batch_id": "BATCH-STOCK-VALUATION-CURRENT-RESEARCH-20260820-001",
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"as_of": "2026-08-19",
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"农业-化肥": "ana-data/cases/农业案例/extracted/fertilizer_export_primary_disposition_2025.csv：固定50家公司",
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"农业-首批": "ana-data/cases/农业案例/extracted/candidate_selection.csv：农药/化肥16家公司",
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"新能源": "ana-data/cases/新能源案例/核心文档/公司：115张稳定公司卡"
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},
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{
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"ticker": "000012.SZ",
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"company": "南玻A",
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"research_name": "南 玻Ａ",
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],
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],
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{
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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],
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},
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_000012_valuation/南玻A估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
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"ticker": "000059.SZ",
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"company": "华锦股份",
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"research_name": "华锦股份",
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],
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},
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{
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},
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{
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},
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{
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"ticker": "000400.SZ",
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"company": "许继电气",
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"research_name": "许继电气",
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"bubble_reason": "当前价未超过基准上沿；储能、风电、核电或新型电力系统的经营风险仍可能令合理区间下修。",
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{
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"ticker": "000408.SZ",
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"research_name": "藏格矿业",
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{
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{
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{
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{
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
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"qa": {
|
"error_count": 0,
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"info_count": 0,
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"issues": [
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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}
|
],
|
"status": "PASS_WITH_WARNINGS",
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"warning_count": 1
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_000683_valuation/博源化工价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_000683_valuation/博源化工估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
|
{
|
"ticker": "000707.SZ",
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"company": "双环科技",
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"research_name": "双环科技",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
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],
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"price": 4.57,
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"price_date": "2026-08-19",
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"normalized_profit": -152772990.34,
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"normalized_pe": null,
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"pb": 0.9663318368928794,
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"consensus_count": 0,
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"consensus_2026": null,
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"forward_pe": null,
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"base_low": 4.256301865438733,
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"base_high": 7.093836442397889,
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"optimistic_high": 11.350138307836621,
|
"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
|
"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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},
|
{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 4
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_000707_valuation/双环科技价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_000707_valuation/双环科技估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
|
{
|
"ticker": "000731.SZ",
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"company": "四川美丰",
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"research_name": "四川美丰",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
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],
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"price": 6.12,
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"normalized_profit": -171503811.82000002,
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"normalized_pe": null,
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"pb": 0.8796936401431161,
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"consensus_count": 0,
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"consensus_2026": null,
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"forward_pe": null,
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"base_low": 6.2612706840803245,
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"base_high": 10.435451140133875,
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"optimistic_high": 16.6967218242142,
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"label": "偏低",
|
"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
|
"qa": {
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"error_count": 0,
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"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
|
"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 3
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_000731_valuation/四川美丰价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_000731_valuation/四川美丰估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "000830.SZ",
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"company": "鲁西化工",
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"research_name": "鲁西化工",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
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],
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"price": 11.88,
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"normalized_profit": 716716635.2199998,
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"pb": 1.1668417179319166,
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"consensus_count": 10,
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"forward_pe": 11.82089552238806,
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"base_high": 21.3462,
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"optimistic_high": 42.55009199999999,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"issues": [],
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"status": "PASS",
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"warning_count": 0
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_000830_valuation/鲁西化工价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_000830_valuation/鲁西化工估值快照_20260819.json",
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"run_status": "GENERATED"
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},
|
{
|
"ticker": "000912.SZ",
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"company": "泸天化",
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"research_name": "泸天化",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:A_FERTILIZER_EXPORT_RATIO"
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],
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"price": 3.68,
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"pb": 0.9095932089008435,
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"base_low": 3.641188135080995,
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"base_high": 6.0686468918016585,
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"optimistic_high": 9.709835026882653,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
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"qa": {
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"issues": [
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
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"issue_id": "QA-NEGATIVE-TTM-PROFIT",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
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}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 4
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_000912_valuation/泸天化价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_000912_valuation/泸天化估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
|
{
|
"ticker": "001269.SZ",
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"company": "欧晶科技",
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"research_name": "欧晶科技",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 18.87,
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"pb": 4.765292194446845,
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"base_low": 3.5638947848341513,
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"base_high": 5.543836331964235,
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
|
"bubble_reason": "当前价高于基准上沿240.4%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
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"error_count": 0,
|
"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
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},
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
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"warning_count": 4
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},
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"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_001269_valuation/欧晶科技价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_001269_valuation/欧晶科技估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "002076.SZ",
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"company": "星光股份",
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"research_name": "星光股份",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 2.04,
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"pb": 7.431989479644117,
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"base_high": 0.3842847205075377,
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"optimistic_high": 0.6038759893689878,
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
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"bubble_reason": "当前价高于基准上沿430.9%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
|
"recalc_scope": "institutions",
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"severity": "WARNING"
|
},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
},
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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},
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{
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"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 4
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002076_valuation/星光股份价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002076_valuation/星光股份估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
|
{
|
"ticker": "002150.SZ",
|
"company": "正泰电源",
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"research_name": "正泰电源",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"POWER_SYSTEM",
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"SOLAR",
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"STORAGE"
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],
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"price": 22.28,
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"price_date": "2026-08-19",
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"normalized_profit": 219840837.82,
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"normalized_pe": 36.57262686299928,
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"pb": 3.710150219697519,
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"consensus_count": 3,
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"forward_pe": 19.0971428571374,
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"base_low": 11.83000000000338,
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"optimistic_high": 56.99400000001628,
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"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
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"issues": [],
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"status": "PASS",
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"warning_count": 0
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002150_valuation/正泰电源价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002150_valuation/正泰电源估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "002169.SZ",
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"company": "智光电气",
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"research_name": "智光电气",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"POWER_SYSTEM",
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"STORAGE"
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],
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"price": 12.65,
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"price_date": "2026-08-19",
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"normalized_profit": -95575589.01,
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"pb": 3.5412340625759717,
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"base_low": 3.2149809356906216,
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"base_high": 5.35830155948437,
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"optimistic_high": 8.573282495174992,
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"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "新能源装机、订单与设备交付预期",
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"bubble_reason": "当前价高于基准上沿136.1%；市场最可能提前交易新能源装机、订单与设备交付预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
|
"error_count": 0,
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"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
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},
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 3
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002169_valuation/智光电气价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002169_valuation/智光电气估值快照_20260819.json",
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"run_status": "GENERATED"
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},
|
{
|
"ticker": "002239.SZ",
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"company": "奥特佳",
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"research_name": "奥特佳",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"POWER_SYSTEM",
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"STORAGE"
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],
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"price": 2.42,
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"price_date": "2026-08-19",
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"normalized_profit": 170179305.3,
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"normalized_pe": 49.962935721773675,
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"pb": 1.4725450813027776,
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"consensus_count": 0,
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"consensus_2026": null,
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"forward_pe": null,
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"base_low": 0.7410693440070254,
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"base_high": 1.6347117882507913,
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"optimistic_high": 3.1749735620693147,
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"label": "偏贵",
|
"bubble_status": "泡沫-中",
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"bubble_primary_cause": "新能源装机、订单与设备交付预期",
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"bubble_reason": "当前价高于基准上沿48.0%；市场最可能提前交易新能源装机、订单与设备交付预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"error_count": 0,
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"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 1
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},
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"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002239_valuation/奥特佳价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002239_valuation/奥特佳估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "002274.SZ",
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"company": "华昌化工",
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"research_name": "华昌化工",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
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],
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"price": 5.84,
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"price_date": "2026-08-19",
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"normalized_profit": -196576515.42000002,
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"normalized_pe": null,
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"pb": 1.0538453922640052,
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"consensus_count": 0,
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"base_low": 4.987448859750091,
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"base_high": 8.312414766250152,
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"optimistic_high": 13.299863626000242,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 4
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002274_valuation/华昌化工价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002274_valuation/华昌化工估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
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"ticker": "002312.SZ",
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"company": "川发龙蟒",
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"research_name": "川发龙蟒",
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"industries": [
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"农业"
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],
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"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
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],
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"bubble_status": "泡沫-高",
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"bubble_reason": "当前价高于基准上沿54.3%；市场最可能提前交易资源品稀缺性、价格上行或高景气持续预期，乐观利润和估值倍数被提前定价。周期利润未被按永久高位资本化。",
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"qa": {
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"error_count": 0,
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"info_count": 0,
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"issues": [
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 1
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002312_valuation/川发龙蟒价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002312_valuation/川发龙蟒估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "002323.SZ",
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"company": "*ST雅博",
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"research_name": "*ST雅博",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 1.25,
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"base_low": 0.08132105431602363,
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"base_high": 0.12649941782492563,
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"optimistic_high": 0.19878479943916885,
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
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"bubble_reason": "当前价高于基准上沿888.1%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"error_count": 0,
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"info_count": 1,
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"issues": [
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
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"issue_id": "QA-NEGATIVE-TTM-PROFIT",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 3
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002323_valuation/ST雅博价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002323_valuation/ST雅博估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "002459.SZ",
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"company": "晶澳科技",
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"research_name": "晶澳科技",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 7.29,
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"normalized_profit": -5045911447.96,
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"pb": 1.133134682231377,
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"consensus_count": 7,
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"forward_pe": 82.21804511247286,
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"base_high": 9.006872845778819,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"issues": [
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{
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"action": "使用正常化情景、PB 或反向估值。",
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"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 3
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},
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"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002459_valuation/晶澳科技价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002459_valuation/晶澳科技估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
|
{
|
"ticker": "002470.SZ",
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"company": "金正大",
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"research_name": "金正大",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:D_NO_FERTILIZER_EXPORT_DISCLOSURE"
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],
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"price": 1.98,
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"price_date": "2026-08-19",
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"normalized_profit": -11293117.540000005,
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"pb": 3.0517232312224327,
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"base_low": 0.5839323768840537,
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"base_high": 0.9732206281400896,
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"optimistic_high": 1.5571530050241433,
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"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "肥价修复、出口与成本价差改善预期",
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"bubble_reason": "当前价高于基准上沿103.4%；市场最可能提前交易肥价修复、出口与成本价差改善预期，乐观利润和估值倍数被提前定价。周期利润未被按永久高位资本化。",
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"qa": {
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"error_count": 0,
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"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 2
|
},
|
"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002470_valuation/金正大价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002470_valuation/金正大估值快照_20260819.json",
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"run_status": "GENERATED"
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},
|
{
|
"ticker": "002514.SZ",
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"company": "*ST宝馨",
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"research_name": "*ST宝馨",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 1.7,
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"price_date": "2026-08-19",
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"normalized_profit": -209448184.63000003,
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"pb": null,
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"base_high": 0.0,
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"optimistic_high": 0.0,
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "亏损、负归母净资产与持续经营风险下仍存在正股价",
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"bubble_reason": "归母净资产为负，PB区间不具正向经济含义；合理区间按0元风险下限记载。当前价格主要反映重整、保壳或业务扭转预期，不能由现有利润和净资产支持。",
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"qa": {
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"error_count": 0,
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"info_count": 1,
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"issues": [
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 3
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002514_valuation/ST宝馨价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002514_valuation/ST宝馨估值快照_20260819.json",
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"run_status": "GENERATED",
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"special_valuation_status": "NON_POSITIVE_ATTRIBUTABLE_EQUITY"
|
},
|
{
|
"ticker": "002538.SZ",
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"company": "ST司特",
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"research_name": "ST司特",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
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],
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"price": 7.12,
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"price_date": "2026-08-19",
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"normalized_profit": 188008810.63000003,
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"normalized_pe": 32.324639532559544,
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"pb": 1.1471493900522758,
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"forward_pe": null,
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"base_low": 2.0594815893598506,
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"base_high": 4.955971739101245,
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"optimistic_high": 9.878903666608482,
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"label": "偏贵",
|
"bubble_status": "泡沫-中",
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"bubble_primary_cause": "肥价修复、出口与成本价差改善预期",
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"bubble_reason": "当前价高于基准上沿43.7%；市场最可能提前交易肥价修复、出口与成本价差改善预期，趋势动量与交易拥挤放大溢价。周期利润未被按永久高位资本化。",
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"qa": {
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"error_count": 0,
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"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
|
},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 1
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},
|
"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002538_valuation/ST司特价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002538_valuation/ST司特估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
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{
|
"ticker": "002539.SZ",
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"company": "云图控股",
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"research_name": "云图控股",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
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],
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"price": 12.81,
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"normalized_profit": 809499664.17,
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"normalized_pe": 19.11173293330855,
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"pb": 1.5925118567099348,
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"forward_pe": 12.325208466969958,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"info_count": 0,
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"issues": [
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{
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"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 1
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002539_valuation/云图控股价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002539_valuation/云图控股估值快照_20260819.json",
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"run_status": "GENERATED"
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},
|
{
|
"ticker": "002545.SZ",
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"company": "东方铁塔",
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"research_name": "东方铁塔",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:C_OVERSEAS_LOCAL_PRODUCTION_SALES"
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],
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"price": 17.85,
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"normalized_profit": 1362134117.1000001,
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"pb": 2.173738463147984,
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"consensus_2026": 1640384718.0123239,
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"forward_pe": 13.537378114847304,
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"base_low": 11.313342857139181,
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"base_high": 28.006457142848035,
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"optimistic_high": 55.82620457141042,
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"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"info_count": 0,
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"issues": [],
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"status": "PASS",
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002545_valuation/东方铁塔价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002545_valuation/东方铁塔估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "002556.SZ",
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"company": "辉隆股份",
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"research_name": "辉隆股份",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
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],
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"normalized_profit": 106067485.19999997,
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"pb": 1.3250275185779816,
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"label": "偏贵",
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"bubble_status": "泡沫-轻",
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"bubble_primary_cause": "渠道整合、周转改善与农业服务成长预期",
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"bubble_reason": "当前价高于基准上沿11.4%；市场最可能提前交易渠道整合、周转改善与农业服务成长预期，乐观利润和估值倍数被提前定价。周期利润未被按永久高位资本化。",
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"qa": {
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"error_count": 0,
|
"info_count": 0,
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"issues": [],
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"status": "PASS",
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002556_valuation/辉隆股份价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002556_valuation/辉隆股份估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "002574.SZ",
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"company": "明牌珠宝",
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"research_name": "明牌珠宝",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 4.53,
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"normalized_profit": -344718948.46000004,
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"pb": 0.8801075076059398,
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"base_low": 4.632388617034091,
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"base_high": 7.205937848719697,
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"optimistic_high": 11.323616619416667,
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"label": "偏低",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 4
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002574_valuation/明牌珠宝价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002574_valuation/明牌珠宝估值快照_20260819.json",
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"run_status": "GENERATED"
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},
|
{
|
"ticker": "002749.SZ",
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"company": "国光股份",
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"research_name": "国光股份",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
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],
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"price": 9.02,
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"normalized_profit": 261857450.25,
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"pb": 2.643960743030199,
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"forward_pe": 10.653543307082419,
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"base_low": 7.264400000002859,
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"base_high": 17.983200000007077,
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"optimistic_high": 35.84651200001411,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"info_count": 0,
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"issues": [],
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"status": "PASS",
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"warning_count": 0
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002749_valuation/国光股份价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002749_valuation/国光股份估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "002758.SZ",
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"company": "浙农股份",
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"research_name": "浙农股份",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:D_NO_FERTILIZER_EXPORT_DISCLOSURE"
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],
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"price": 8.06,
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"price_date": "2026-08-19",
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"normalized_profit": 346977985.68,
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"normalized_pe": 12.051335573192322,
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"pb": 0.8046882487611378,
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"consensus_count": 1,
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"consensus_2026": 430606074.16999996,
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"forward_pe": 9.710843373493978,
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"base_low": 7.1214,
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"base_high": 17.6375,
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"optimistic_high": 34.362,
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"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；农资流通、助剂或综合农业服务的价格、成本或现金流变化仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"issues": [],
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"status": "PASS",
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"warning_count": 0
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002758_valuation/浙农股份价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002758_valuation/浙农股份估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "002783.SZ",
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"company": "凯龙股份",
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"research_name": "凯龙股份",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:D_NO_FERTILIZER_EXPORT_DISCLOSURE"
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],
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"price": 7.86,
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"normalized_profit": 93839408.92,
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"pb": 1.4743164816555634,
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"base_low": 1.7571957052043488,
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"base_high": 4.228545814662871,
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"optimistic_high": 8.428901323894657,
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"label": "偏贵",
|
"bubble_status": "泡沫-高",
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"bubble_primary_cause": "肥价修复、出口与成本价差改善预期",
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"bubble_reason": "当前价高于基准上沿85.9%；市场最可能提前交易肥价修复、出口与成本价差改善预期，乐观利润和估值倍数被提前定价。周期利润未被按永久高位资本化。",
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"qa": {
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"error_count": 0,
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"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 1
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},
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"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002783_valuation/凯龙股份价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002783_valuation/凯龙股份估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "002895.SZ",
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"company": "川恒股份",
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"research_name": "川恒股份",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
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],
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"price": 33.37,
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"price_date": "2026-08-19",
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"normalized_profit": 1283469468.6899996,
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"normalized_pe": 15.752480626863493,
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"pb": 2.732537032867409,
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"consensus_2026": 1557081744.31,
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"forward_pe": 12.98443579766537,
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"base_low": 20.046,
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"base_high": 48.52159999999999,
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"optimistic_high": 100.43971199999997,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；资源型化肥原料或跨业务资源品的价格、成本或现金流变化仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"issues": [],
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"status": "PASS",
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"warning_count": 0
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},
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"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002895_valuation/川恒股份价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002895_valuation/川恒股份估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "002943.SZ",
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"company": "宇晶股份",
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"research_name": "宇晶股份",
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"industries": [
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"新能源"
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],
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"SOLAR"
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],
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"price": 32.73,
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"normalized_profit": 1567607.470000006,
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"pb": 10.091105988152927,
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"base_low": 2.9191052035904543,
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"base_high": 4.540830316696262,
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
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"bubble_reason": "当前价高于基准上沿620.8%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"error_count": 0,
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"issues": [
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
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"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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},
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"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_002943_valuation/宇晶股份价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_002943_valuation/宇晶股份估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
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"ticker": "300051.SZ",
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"company": "琏升科技",
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"research_name": "琏升科技",
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"industries": [
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"新能源"
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],
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],
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"price": 8.11,
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"pb": 31.575996036979166,
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
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"bubble_reason": "当前价高于基准上沿2155.4%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"issues": [
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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},
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{
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"action": "使用正常化情景、PB 或反向估值。",
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"field": "metrics.ttm_attributable_profit",
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"issue_id": "QA-NEGATIVE-TTM-PROFIT",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
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"action": "检查主营盈利恢复条件。",
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"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
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"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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},
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{
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"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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},
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300051_valuation/琏升科技估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
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"ticker": "300068.SZ",
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"company": "ST南都",
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"research_name": "ST南都",
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"industries": [
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"新能源"
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],
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"POWER_SYSTEM",
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"STORAGE"
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],
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "新能源装机、订单与设备交付预期",
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"bubble_reason": "当前价高于基准上沿113.8%；市场最可能提前交易新能源装机、订单与设备交付预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"error_count": 0,
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"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
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"issue_id": "QA-NEGATIVE-TTM-PROFIT",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
|
"severity": "WARNING"
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},
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{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_300068_valuation/ST南都价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300068_valuation/ST南都估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "300118.SZ",
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"company": "东方日升",
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"research_name": "东方日升",
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"industries": [
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"新能源"
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],
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"SOLAR"
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],
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"pb": 1.3290435843104598,
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"base_high": 10.186272414101337,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"info_count": 0,
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"issues": [
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{
|
"action": "使用正常化情景、PB 或反向估值。",
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"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
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"warning_count": 2
|
},
|
"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_300118_valuation/东方日升价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300118_valuation/东方日升估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "300345.SZ",
|
"company": "华民股份",
|
"research_name": "华民股份",
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"industries": [
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"新能源"
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],
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"research_layers": [
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],
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"price": 8.07,
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"normalized_profit": -195942805.76000002,
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"pb": 11.6527888979073,
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"base_low": 0.6232842681381062,
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"base_high": 0.9695533059926097,
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"optimistic_high": 1.523583766559815,
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
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"bubble_reason": "当前价高于基准上沿732.3%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，趋势动量与交易拥挤放大溢价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 1,
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"issues": [
|
{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
|
"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
|
"recalc_scope": "institutions",
|
"severity": "WARNING"
|
},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
|
"severity": "WARNING"
|
},
|
{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 4
|
},
|
"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_300345_valuation/华民股份价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300345_valuation/华民股份估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "300376.SZ",
|
"company": "易事特",
|
"research_name": "易事特",
|
"industries": [
|
"新能源"
|
],
|
"research_layers": [
|
"SOLAR"
|
],
|
"price": 4.47,
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"price_date": "2026-08-19",
|
"normalized_profit": 96078946.48000003,
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"normalized_pe": 108.31961953169822,
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"pb": 1.603904067845152,
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"consensus_count": 0,
|
"consensus_2026": null,
|
"forward_pe": null,
|
"base_low": 2.508254752046928,
|
"base_high": 3.901729614295221,
|
"optimistic_high": 6.13128939389249,
|
"label": "偏贵",
|
"bubble_status": "泡沫-轻",
|
"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
|
"bubble_reason": "当前价高于基准上沿14.6%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 1,
|
"issues": [
|
{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
|
"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
|
"recalc_scope": "institutions",
|
"severity": "WARNING"
|
},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 2
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_300376_valuation/易事特价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300376_valuation/易事特估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "300393.SZ",
|
"company": "中来股份",
|
"research_name": "中来股份",
|
"industries": [
|
"新能源"
|
],
|
"research_layers": [
|
"SOLAR"
|
],
|
"price": 5.98,
|
"price_date": "2026-08-19",
|
"normalized_profit": -1567925876.2800002,
|
"normalized_pe": null,
|
"pb": 3.6790527803950575,
|
"consensus_count": 0,
|
"consensus_2026": null,
|
"forward_pe": null,
|
"base_low": 1.4628765394939727,
|
"base_high": 2.2755857281017353,
|
"optimistic_high": 3.5759204298741554,
|
"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
|
"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
|
"bubble_reason": "当前价高于基准上沿162.8%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 1,
|
"issues": [
|
{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
|
"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
|
"recalc_scope": "institutions",
|
"severity": "WARNING"
|
},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
|
"severity": "WARNING"
|
},
|
{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 4
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_300393_valuation/中来股份价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300393_valuation/中来股份估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "300505.SZ",
|
"company": "川金诺",
|
"research_name": "川金诺",
|
"industries": [
|
"农业"
|
],
|
"research_layers": [
|
"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
|
],
|
"price": 20.9,
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"price_date": "2026-08-19",
|
"normalized_profit": 415116735.77,
|
"normalized_pe": 13.838833117735179,
|
"pb": 1.9450795775898055,
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"consensus_count": 1,
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"consensus_2026": 511253592.78000003,
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"forward_pe": 11.236559139784946,
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"base_low": 15.958800000000002,
|
"base_high": 41.85,
|
"optimistic_high": 83.42099999999999,
|
"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
|
"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
|
"issues": [],
|
"status": "PASS",
|
"warning_count": 0
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_300505_valuation/川金诺价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300505_valuation/川金诺估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "300566.SZ",
|
"company": "激智科技",
|
"research_name": "激智科技",
|
"industries": [
|
"新能源"
|
],
|
"research_layers": [
|
"SOLAR"
|
],
|
"price": 27.99,
|
"price_date": "2026-08-19",
|
"normalized_profit": 175598258.51999998,
|
"normalized_pe": 41.778935962137815,
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"pb": 3.294355071841779,
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"consensus_count": 1,
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"consensus_2026": 272588807.92,
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"forward_pe": 26.91346153846154,
|
"base_low": 10.545600000000002,
|
"base_high": 27.300000000000004,
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"optimistic_high": 53.82,
|
"label": "偏贵",
|
"bubble_status": "泡沫-轻",
|
"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
|
"bubble_reason": "当前价高于基准上沿2.5%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
|
"issues": [],
|
"status": "PASS",
|
"warning_count": 0
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_300566_valuation/激智科技价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300566_valuation/激智科技估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
|
{
|
"ticker": "300716.SZ",
|
"company": "*ST泉为",
|
"research_name": "*ST泉为",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 16.31,
|
"price_date": "2026-08-19",
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"normalized_profit": -147779112.61999997,
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"normalized_pe": null,
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"pb": null,
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"consensus_count": 0,
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"forward_pe": null,
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"base_low": 0.0,
|
"base_high": 0.0,
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"optimistic_high": 0.0,
|
"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
|
"bubble_primary_cause": "亏损、负归母净资产与持续经营风险下仍存在正股价",
|
"bubble_reason": "归母净资产为负，PB区间不具正向经济含义；合理区间按0元风险下限记载。当前价格主要反映重整、保壳或业务扭转预期，不能由现有利润和净资产支持。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
|
"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
|
"recalc_scope": "institutions",
|
"severity": "WARNING"
|
},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
|
"severity": "WARNING"
|
},
|
{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 4
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_300716_valuation/ST泉为价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300716_valuation/ST泉为估值快照_20260819.json",
|
"run_status": "GENERATED",
|
"special_valuation_status": "NON_POSITIVE_ATTRIBUTABLE_EQUITY"
|
},
|
{
|
"ticker": "300724.SZ",
|
"company": "捷佳伟创",
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"research_name": "捷佳伟创",
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"industries": [
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"新能源"
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],
|
"research_layers": [
|
"SOLAR"
|
],
|
"price": 59.41,
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"price_date": "2026-08-19",
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"normalized_profit": 1909840416.9500003,
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"normalized_pe": 10.834427784026584,
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"pb": 1.521347004584791,
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"consensus_count": 7,
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"consensus_2026": 1126625127.4081862,
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"forward_pe": 18.36638254648398,
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"base_low": 60.59207861146691,
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"base_high": 132.42522158071725,
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"optimistic_high": 261.06686540198547,
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"label": "偏低",
|
"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
|
"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
|
"issues": [
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
|
"severity": "WARNING"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 1
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_300724_valuation/捷佳伟创价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300724_valuation/捷佳伟创估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "300751.SZ",
|
"company": "迈为股份",
|
"research_name": "迈为股份",
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"industries": [
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"新能源"
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],
|
"research_layers": [
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"SOLAR"
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],
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"price": 189.5,
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"price_date": "2026-08-19",
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"normalized_profit": 623885656.95,
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"normalized_pe": 84.71405203058819,
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"pb": 6.567132996705146,
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"consensus_count": 14,
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"consensus_2026": 899478071.7535948,
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"forward_pe": 58.758388518534524,
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"base_low": 32.702224285709946,
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"base_high": 79.91726999998937,
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"optimistic_high": 157.5511894285505,
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"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
|
"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
|
"bubble_reason": "当前价高于基准上沿137.1%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"error_count": 0,
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"info_count": 0,
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"issues": [
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{
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"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 1
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},
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"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_300751_valuation/迈为股份价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300751_valuation/迈为股份估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
|
{
|
"ticker": "300827.SZ",
|
"company": "上能电气",
|
"research_name": "上能电气",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"POWER_SYSTEM",
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"STORAGE"
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],
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"price": 25.65,
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"price_date": "2026-08-19",
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"normalized_profit": 451077901.4,
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"pb": 3.3195617890765186,
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"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；储能、风电、核电或新型电力系统的经营风险仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"info_count": 0,
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"issues": [
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 1
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_300827_valuation/上能电气价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300827_valuation/上能电气估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
|
{
|
"ticker": "300842.SZ",
|
"company": "帝科股份",
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"research_name": "帝科股份",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 61.45,
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"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"info_count": 0,
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"issues": [
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{
|
"action": "使用正常化情景、PB 或反向估值。",
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"field": "metrics.ttm_attributable_profit",
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"issue_id": "QA-NEGATIVE-TTM-PROFIT",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 1
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_300842_valuation/帝科股份价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300842_valuation/帝科股份估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "300861.SZ",
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"company": "美畅股份",
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"research_name": "美畅股份",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 16.72,
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"price_date": "2026-08-19",
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"normalized_profit": 351241351.85,
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"normalized_pe": 31.981348715447382,
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"pb": 1.6997343926647528,
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"base_low": 7.004205000000001,
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"base_high": 17.116785,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"issues": [],
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"status": "PASS",
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"warning_count": 0
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_300861_valuation/美畅股份价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300861_valuation/美畅股份估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
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"ticker": "300902.SZ",
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"company": "国安达",
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"research_name": "国安达",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"POWER_SYSTEM",
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"STORAGE"
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],
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"price": 16.18,
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"normalized_profit": -16035239.159999998,
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"pb": 3.6267769412611774,
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"base_high": 6.691892110563694,
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "新能源装机、订单与设备交付预期",
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"bubble_reason": "当前价高于基准上沿141.8%；市场最可能提前交易新能源装机、订单与设备交付预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"error_count": 0,
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"issues": [
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
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"action": "使用正常化情景、PB 或反向估值。",
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"field": "metrics.ttm_attributable_profit",
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"issue_id": "QA-NEGATIVE-TTM-PROFIT",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
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"action": "检查主营盈利恢复条件。",
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"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
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"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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},
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{
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"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_300902_valuation/国安达价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_300902_valuation/国安达估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
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"ticker": "301278.SZ",
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"company": "快可电子",
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"research_name": "快可电子",
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"industries": [
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"新能源"
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],
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"SOLAR",
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"STORAGE"
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],
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"label": "偏贵",
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"bubble_reason": "当前价高于基准上沿20.7%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
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"action": "检查主营盈利恢复条件。",
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"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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},
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{
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"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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],
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"status": "PASS_WITH_WARNINGS",
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},
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_301278_valuation/快可电子估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "600089.SH",
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"company": "特变电工",
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"research_name": "特变电工",
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"industries": [
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"新能源"
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],
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"POWER_SYSTEM",
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],
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"pb": 1.3387338337330215,
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"forward_pe": 13.600446428574465,
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"base_high": 37.00479999999173,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"issues": [
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600089_valuation/特变电工价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600089_valuation/特变电工估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "600096.SH",
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"company": "云天化",
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"research_name": "云天化",
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"industries": [
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"农业"
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],
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],
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"pb": 2.13766554086038,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600096_valuation/云天化价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600096_valuation/云天化估值快照_20260819.json",
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"run_status": "GENERATED"
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},
|
{
|
"ticker": "600123.SH",
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"company": "兰花科创",
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"research_name": "兰花科创",
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"industries": [
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"农业"
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],
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"research_layers": [
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],
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"forward_pe": 26.234234234234233,
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"label": "偏贵",
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"bubble_status": "泡沫-中",
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"bubble_primary_cause": "资源品稀缺性、价格上行或高景气持续预期",
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"bubble_reason": "当前价高于基准上沿39.0%；市场最可能提前交易资源品稀缺性、价格上行或高景气持续预期，趋势动量与交易拥挤放大溢价。周期利润未被按永久高位资本化。",
|
"qa": {
|
"error_count": 0,
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"info_count": 0,
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"issues": [
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{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
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},
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 3
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},
|
"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600123_valuation/兰花科创价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600123_valuation/兰花科创估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "600141.SH",
|
"company": "兴发集团",
|
"research_name": "兴发集团",
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"industries": [
|
"农业"
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],
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"research_layers": [
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"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
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],
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"price": 31.43,
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"price_date": "2026-08-19",
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"normalized_profit": 1411708384.7899997,
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"normalized_pe": 26.7553016702728,
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"pb": 1.5099331287116484,
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"consensus_count": 20,
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"consensus_2026": 2205192637.595,
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"forward_pe": 17.12806539509537,
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"base_low": 15.744299999999997,
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"base_high": 38.97539999999999,
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"optimistic_high": 77.69096399999998,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
|
"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
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"qa": {
|
"error_count": 0,
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"info_count": 0,
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"issues": [
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
|
"severity": "WARNING"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 1
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600141_valuation/兴发集团价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600141_valuation/兴发集团估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
|
{
|
"ticker": "600188.SH",
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"company": "兖矿能源",
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"research_name": "兖矿能源",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:D_NO_FERTILIZER_EXPORT_DISCLOSURE"
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],
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"price": 21.8,
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"price_date": "2026-08-19",
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"normalized_profit": 5730737000.0,
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"normalized_pe": 38.18066926400566,
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"pb": 2.0773840991212906,
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"forward_pe": 12.687246963564359,
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"base_high": 32.440765217387195,
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"optimistic_high": 67.15238399999149,
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"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
|
"bubble_reason": "当前价未超过基准上沿；资源型化肥原料或跨业务资源品的价格、成本或现金流变化仍可能令合理区间下修。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
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"issues": [],
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"status": "PASS",
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"warning_count": 0
|
},
|
"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600188_valuation/兖矿能源价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600188_valuation/兖矿能源估值快照_20260819.json",
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"run_status": "GENERATED"
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},
|
{
|
"ticker": "600207.SH",
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"company": "安彩高科",
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"research_name": "安彩高科",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 4.25,
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"price_date": "2026-08-19",
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"normalized_profit": -770143636.0800002,
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"normalized_pe": null,
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"pb": 2.4653320305712167,
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"base_low": 1.5515151519423322,
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"base_high": 2.413468014132517,
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"optimistic_high": 3.792592593636812,
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"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
|
"bubble_reason": "当前价高于基准上沿76.1%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"error_count": 0,
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"info_count": 1,
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"issues": [
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
|
"severity": "WARNING"
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},
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{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 4
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600207_valuation/安彩高科价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600207_valuation/安彩高科估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "600227.SH",
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"company": "赤天化",
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"research_name": "赤天化",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:D_NO_FERTILIZER_EXPORT_DISCLOSURE"
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],
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"price": 3.72,
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"normalized_profit": -253504031.00999996,
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"pb": 2.800845727853454,
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "肥价修复、出口与成本价差改善预期",
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"bubble_reason": "当前价高于基准上沿86.7%；市场最可能提前交易肥价修复、出口与成本价差改善预期，趋势动量与交易拥挤放大溢价。周期利润未被按永久高位资本化。",
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"qa": {
|
"error_count": 0,
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"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
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"issue_id": "QA-NEGATIVE-TTM-PROFIT",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
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"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600227_valuation/赤天化价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600227_valuation/赤天化估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
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"ticker": "600248.SH",
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"company": "陕建股份",
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"research_name": "陕建股份",
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"industries": [
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"新能源"
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],
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"SOLAR"
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],
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"price": 2.85,
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"pb": 0.3166726623320421,
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"base_low": 8.09984664009459,
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"base_high": 12.599761440147141,
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"optimistic_high": 19.79962512023122,
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"label": "偏低",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
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"qa": {
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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},
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{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
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"issue_id": "QA-NEGATIVE-TTM-PROFIT",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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},
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{
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"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600248_valuation/陕建股份价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600248_valuation/陕建股份估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
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{
|
"ticker": "600268.SH",
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"research_name": "国电南自",
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"industries": [
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"新能源"
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],
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"POWER_SYSTEM",
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],
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"pb": 2.851557464617761,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
|
"bubble_reason": "当前价未超过基准上沿；储能、风电、核电或新型电力系统的经营风险仍可能令合理区间下修。",
|
"qa": {
|
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|
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|
"issues": [],
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"status": "PASS",
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600268_valuation/国电南自价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600268_valuation/国电南自估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "600295.SH",
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"company": "鄂尔多斯",
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"research_name": "鄂尔多斯",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
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],
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|
"normalized_profit": 2340787038.08,
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"pb": 1.6198812314903888,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
|
"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
|
"qa": {
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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}
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],
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"status": "PASS_WITH_WARNINGS",
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600295_valuation/鄂尔多斯价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600295_valuation/鄂尔多斯估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
|
{
|
"ticker": "600313.SH",
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"company": "农发种业",
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"research_name": "农发种业",
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"农业"
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],
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],
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"pb": 3.427462857196773,
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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},
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{
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"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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},
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},
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{
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"ticker": "600328.SH",
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"company": "中盐化工",
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"research_name": "中盐化工",
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"农业"
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],
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],
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"issues": [
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{
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"action": "使用正常化情景、PB 或反向估值。",
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"field": "metrics.ttm_attributable_profit",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "检查主营盈利恢复条件。",
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"field": "metrics.ttm_deduct_profit",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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}
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],
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},
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600328_valuation/中盐化工估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
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"ticker": "600331.SH",
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"company": "宏达股份",
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"research_name": "宏达股份",
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"industries": [
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"农业"
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],
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"FERTILIZER:D_NO_FERTILIZER_EXPORT_DISCLOSURE"
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],
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"normalized_profit": -84599816.03999999,
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"bubble_reason": "当前价高于基准上沿3522.3%；市场最可能提前交易肥价修复、出口与成本价差改善预期，乐观利润和估值倍数被提前定价。周期利润未被按永久高位资本化。",
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"qa": {
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"issues": [
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{
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"action": "使用正常化情景、PB 或反向估值。",
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"field": "metrics.ttm_attributable_profit",
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"issue_id": "QA-NEGATIVE-TTM-PROFIT",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "检查主营盈利恢复条件。",
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"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600331_valuation/宏达股份价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600331_valuation/宏达股份估值快照_20260819.json",
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},
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{
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"ticker": "600406.SH",
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"company": "国电南瑞",
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"research_name": "国电南瑞",
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"industries": [
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"新能源"
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],
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],
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；储能、风电、核电或新型电力系统的经营风险仍可能令合理区间下修。",
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},
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600406_valuation/国电南瑞估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
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"ticker": "600426.SH",
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"company": "华鲁恒升",
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"research_name": "华鲁恒升",
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"industries": [
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],
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],
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"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600426_valuation/华鲁恒升价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600426_valuation/华鲁恒升估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
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"ticker": "600481.SH",
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"company": "双良节能",
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"research_name": "双良节能",
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"industries": [
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],
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],
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"severity": "WARNING"
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},
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{
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"action": "检查主营盈利恢复条件。",
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"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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}
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],
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600481_valuation/双良节能价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600481_valuation/双良节能估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
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"ticker": "600525.SH",
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"company": "ST长园",
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"research_name": "ST长园",
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"industries": [
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"新能源"
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],
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"POWER_SYSTEM",
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"SOLAR",
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"STORAGE",
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"WIND"
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],
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"bubble_reason": "当前价高于基准上沿82.7%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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},
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{
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"action": "使用正常化情景、PB 或反向估值。",
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"field": "metrics.ttm_attributable_profit",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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},
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{
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"action": "检查主营盈利恢复条件。",
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"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
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"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600525_valuation/ST长园价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600525_valuation/ST长园估值快照_20260819.json",
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},
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{
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"ticker": "600691.SH",
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"company": "潞化科技",
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"research_name": "潞化科技",
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"industries": [
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"农业"
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],
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],
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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},
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{
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"action": "使用正常化情景、PB 或反向估值。",
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"field": "metrics.ttm_attributable_profit",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
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"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
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"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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{
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"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 4
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600691_valuation/潞化科技价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600691_valuation/潞化科技估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "600727.SH",
|
"company": "鲁北化工",
|
"research_name": "鲁北化工",
|
"industries": [
|
"农业"
|
],
|
"research_layers": [
|
"FERTILIZER:A_FERTILIZER_EXPORT_RATIO"
|
],
|
"price": 7.37,
|
"price_date": "2026-08-19",
|
"normalized_profit": 119060682.6,
|
"normalized_pe": 32.71993423755157,
|
"pb": 1.163759649330975,
|
"consensus_count": 1,
|
"consensus_2026": 338293206.40000004,
|
"forward_pe": 11.515624999999998,
|
"base_low": 5.491200000000001,
|
"base_high": 14.400000000000002,
|
"optimistic_high": 28.704000000000004,
|
"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
|
"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
|
"issues": [
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
|
"severity": "WARNING"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 1
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600727_valuation/鲁北化工价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600727_valuation/鲁北化工估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "600732.SH",
|
"company": "爱旭股份",
|
"research_name": "爱旭股份",
|
"industries": [
|
"新能源"
|
],
|
"research_layers": [
|
"SOLAR"
|
],
|
"price": 11.8,
|
"price_date": "2026-08-19",
|
"normalized_profit": -2289096283.82,
|
"normalized_pe": null,
|
"pb": 5.263643833682023,
|
"consensus_count": 13,
|
"consensus_2026": 347068181.1082116,
|
"forward_pe": 71.91467750141578,
|
"base_low": 2.017613716954534,
|
"base_high": 3.1385102263737195,
|
"optimistic_high": 4.931944641444416,
|
"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
|
"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
|
"bubble_reason": "当前价高于基准上沿276.0%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
|
"issues": [
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 2
|
},
|
"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600732_valuation/爱旭股份价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600732_valuation/爱旭股份估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "600876.SH",
|
"company": "凯盛新能",
|
"research_name": "凯盛新能",
|
"industries": [
|
"新能源"
|
],
|
"research_layers": [
|
"SOLAR"
|
],
|
"price": 6.95,
|
"price_date": "2026-08-19",
|
"normalized_profit": -1243919892.02,
|
"normalized_pe": null,
|
"pb": 1.6320406917829506,
|
"consensus_count": 0,
|
"consensus_2026": null,
|
"forward_pe": null,
|
"base_low": 3.8326250267489463,
|
"base_high": 5.961861152720584,
|
"optimistic_high": 9.368638954275202,
|
"label": "偏贵",
|
"bubble_status": "泡沫-中",
|
"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
|
"bubble_reason": "当前价高于基准上沿16.6%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 1,
|
"issues": [
|
{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
|
"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
|
"recalc_scope": "institutions",
|
"severity": "WARNING"
|
},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
|
"severity": "WARNING"
|
},
|
{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 4
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600876_valuation/凯盛新能价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600876_valuation/凯盛新能估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "600929.SH",
|
"company": "雪天盐业",
|
"research_name": "雪天盐业",
|
"industries": [
|
"农业"
|
],
|
"research_layers": [
|
"FERTILIZER:D_NO_FERTILIZER_EXPORT_DISCLOSURE"
|
],
|
"price": 5.24,
|
"price_date": "2026-08-19",
|
"normalized_profit": 8246732.64,
|
"normalized_pe": 1042.1331497706951,
|
"pb": 1.1362750112106863,
|
"consensus_count": 1,
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"consensus_2026": 131209060.48,
|
"forward_pe": 65.5,
|
"base_low": 0.6864,
|
"base_high": 1.8,
|
"optimistic_high": 3.5879999999999996,
|
"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
|
"bubble_primary_cause": "肥价修复、出口与成本价差改善预期",
|
"bubble_reason": "当前价高于基准上沿191.1%；市场最可能提前交易肥价修复、出口与成本价差改善预期，乐观利润和估值倍数被提前定价。周期利润未被按永久高位资本化。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
|
"issues": [],
|
"status": "PASS",
|
"warning_count": 0
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_600929_valuation/雪天盐业价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_600929_valuation/雪天盐业估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "601139.SH",
|
"company": "深圳燃气",
|
"research_name": "深圳燃气",
|
"industries": [
|
"新能源"
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],
|
"research_layers": [
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"SOLAR"
|
],
|
"price": 6.35,
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"price_date": "2026-08-19",
|
"normalized_profit": 1474833918.66,
|
"normalized_pe": 12.38602330616811,
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"pb": 1.0921830120758804,
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"consensus_count": 6,
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"consensus_2026": 1797965284.375,
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"forward_pe": 10.16,
|
"base_low": 6.3375,
|
"base_high": 15.4875,
|
"optimistic_high": 30.532499999999995,
|
"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
|
"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
|
"issues": [],
|
"status": "PASS",
|
"warning_count": 0
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_601139_valuation/深圳燃气价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_601139_valuation/深圳燃气估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "601179.SH",
|
"company": "中国西电",
|
"research_name": "中国西电",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"POWER_SYSTEM"
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],
|
"price": 13.0,
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"price_date": "2026-08-19",
|
"normalized_profit": 1271711966.2099998,
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"normalized_pe": 52.39902772527361,
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"pb": 2.8534248797020116,
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"consensus_count": 11,
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"consensus_2026": 1549041646.7744002,
|
"forward_pe": 43.017868960953,
|
"base_low": 4.242888000000001,
|
"base_high": 9.628092,
|
"optimistic_high": 18.69989424,
|
"label": "偏贵",
|
"bubble_status": "泡沫-中",
|
"bubble_primary_cause": "新能源装机、订单与设备交付预期",
|
"bubble_reason": "当前价高于基准上沿35.0%；市场最可能提前交易新能源装机、订单与设备交付预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
|
"issues": [],
|
"status": "PASS",
|
"warning_count": 0
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_601179_valuation/中国西电价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_601179_valuation/中国西电估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "601222.SH",
|
"company": "林洋能源",
|
"research_name": "林洋能源",
|
"industries": [
|
"新能源"
|
],
|
"research_layers": [
|
"POWER_SYSTEM",
|
"SOLAR",
|
"STORAGE"
|
],
|
"price": 5.47,
|
"price_date": "2026-08-19",
|
"normalized_profit": 234957535.91000003,
|
"normalized_pe": 47.521243402879875,
|
"pb": 0.7369040983376764,
|
"consensus_count": 7,
|
"consensus_2026": 743587342.5434403,
|
"forward_pe": 15.015686274498028,
|
"base_low": 3.6938571428600397,
|
"base_high": 9.02700000000708,
|
"optimistic_high": 17.79608571429967,
|
"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
|
"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
|
"issues": [
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
|
"severity": "WARNING"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 1
|
},
|
"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_601222_valuation/林洋能源价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_601222_valuation/林洋能源估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "601636.SH",
|
"company": "旗滨集团",
|
"research_name": "旗滨集团",
|
"industries": [
|
"新能源"
|
],
|
"research_layers": [
|
"SOLAR"
|
],
|
"price": 5.88,
|
"price_date": "2026-08-19",
|
"normalized_profit": 52164674.43000001,
|
"normalized_pe": 333.49932901402366,
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"pb": 1.164368756610141,
|
"consensus_count": 16,
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"consensus_2026": 630563075.78,
|
"forward_pe": 27.589442815249267,
|
"base_low": 2.1610875,
|
"base_high": 5.2812375,
|
"optimistic_high": 10.411582499999998,
|
"label": "偏贵",
|
"bubble_status": "泡沫-轻",
|
"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
|
"bubble_reason": "当前价高于基准上沿11.3%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
|
"issues": [
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
|
"severity": "WARNING"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 1
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_601636_valuation/旗滨集团价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_601636_valuation/旗滨集团估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "601778.SH",
|
"company": "晶科科技",
|
"research_name": "晶科科技",
|
"industries": [
|
"新能源"
|
],
|
"research_layers": [
|
"POWER_SYSTEM",
|
"STORAGE"
|
],
|
"price": 3.57,
|
"price_date": "2026-08-19",
|
"normalized_profit": 39028786.46999998,
|
"normalized_pe": 340.5504003583744,
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"pb": 0.8309844794184168,
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"consensus_count": 1,
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"consensus_2026": 148921779.92000002,
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"forward_pe": 89.24999999999999,
|
"base_low": 0.5616000000000001,
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"base_high": 1.3500000000000003,
|
"optimistic_high": 2.6220000000000003,
|
"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
|
"bubble_primary_cause": "新能源装机、订单与设备交付预期",
|
"bubble_reason": "当前价高于基准上沿164.4%；市场最可能提前交易新能源装机、订单与设备交付预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
|
"error_count": 0,
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"info_count": 0,
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"issues": [],
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"status": "PASS",
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"warning_count": 0
|
},
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"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_601778_valuation/晶科科技价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_601778_valuation/晶科科技估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
|
{
|
"ticker": "601898.SH",
|
"company": "中煤能源",
|
"research_name": "中煤能源",
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"industries": [
|
"农业"
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],
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"research_layers": [
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"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
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],
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"price": 14.34,
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"price_date": "2026-08-19",
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"normalized_profit": 17623922000.0,
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"normalized_pe": 10.78813405756108,
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"pb": 1.1592316771683149,
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"consensus_count": 27,
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"consensus_2026": 20570570734.289913,
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"forward_pe": 9.242778706137983,
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"base_low": 12.1015555555518,
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"base_high": 29.29197037036128,
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"optimistic_high": 60.63437866664785,
|
"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
|
"bubble_reason": "当前价未超过基准上沿；资源型化肥原料或跨业务资源品的价格、成本或现金流变化仍可能令合理区间下修。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
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"issues": [],
|
"status": "PASS",
|
"warning_count": 0
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_601898_valuation/中煤能源价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_601898_valuation/中煤能源估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "603051.SH",
|
"company": "鹿山新材",
|
"research_name": "鹿山新材",
|
"industries": [
|
"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
|
"price": 20.47,
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"price_date": "2026-08-19",
|
"normalized_profit": -82755453.25,
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"normalized_pe": null,
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"pb": 1.9581090007179462,
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"consensus_count": 0,
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"consensus_2026": null,
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"forward_pe": null,
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"base_low": 9.408567139646033,
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"base_high": 14.63554888389383,
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"optimistic_high": 22.998719674690303,
|
"label": "偏贵",
|
"bubble_status": "泡沫-中",
|
"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
|
"bubble_reason": "当前价高于基准上沿39.9%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
|
"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
|
"recalc_scope": "institutions",
|
"severity": "WARNING"
|
},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 3
|
},
|
"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_603051_valuation/鹿山新材价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_603051_valuation/鹿山新材估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "603077.SH",
|
"company": "和邦生物",
|
"research_name": "和邦生物",
|
"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:B_GROUP_OVERSEAS_REVENUE_PROXY"
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],
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"price": 2.35,
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"price_date": "2026-08-19",
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"normalized_profit": -198246918.59,
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"normalized_pe": null,
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"pb": 1.0770168265328757,
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"consensus_count": 1,
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"consensus_2026": 1148121744.64,
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"forward_pe": 18.076923076923077,
|
"base_low": 1.1154000000000002,
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"base_high": 2.9250000000000003,
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"optimistic_high": 5.830500000000001,
|
"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
|
"bubble_reason": "当前价未超过基准上沿；氮磷钾肥、复合肥或化工联产的价格、成本或现金流变化仍可能令合理区间下修。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
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"issues": [
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{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
|
"severity": "WARNING"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 3
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_603077_valuation/和邦生物价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_603077_valuation/和邦生物估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "603185.SH",
|
"company": "弘元绿能",
|
"research_name": "弘元绿能",
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"industries": [
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"新能源"
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],
|
"research_layers": [
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"SOLAR"
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],
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"price": 16.68,
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"price_date": "2026-08-19",
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"normalized_profit": -288815685.89,
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"normalized_pe": null,
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"pb": 0.9654889406255983,
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"consensus_count": 1,
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"consensus_2026": 191261504.56000003,
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"forward_pe": 59.57142857142856,
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"base_low": 15.548598609811961,
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"base_high": 24.186708948596383,
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"optimistic_high": 38.00768549065146,
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"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
|
"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"info_count": 0,
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"issues": [
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{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
|
"severity": "WARNING"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 3
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_603185_valuation/弘元绿能价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_603185_valuation/弘元绿能估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "603212.SH",
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"company": "赛伍技术",
|
"research_name": "赛伍技术",
|
"industries": [
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"新能源"
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],
|
"research_layers": [
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"SOLAR"
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],
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"price": 11.49,
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"price_date": "2026-08-19",
|
"normalized_profit": -252616417.29,
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"normalized_pe": null,
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"pb": 2.1026045331557515,
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"consensus_count": 3,
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"consensus_2026": 97706242.03985417,
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"forward_pe": 51.44776119410664,
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"base_low": 4.918185915103792,
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"base_high": 7.6505114234947875,
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"optimistic_high": 12.022232236920381,
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"label": "偏贵",
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"bubble_status": "泡沫-高",
|
"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
|
"bubble_reason": "当前价高于基准上沿50.2%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
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"error_count": 0,
|
"info_count": 0,
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"issues": [
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{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
|
"severity": "WARNING"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 3
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_603212_valuation/赛伍技术价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_603212_valuation/赛伍技术估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "603330.SH",
|
"company": "天洋新材",
|
"research_name": "天洋新材",
|
"industries": [
|
"新能源"
|
],
|
"research_layers": [
|
"SOLAR"
|
],
|
"price": 10.07,
|
"price_date": "2026-08-19",
|
"normalized_profit": -243526973.69000003,
|
"normalized_pe": null,
|
"pb": 3.343185096744269,
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"consensus_count": 0,
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"consensus_2026": null,
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"forward_pe": null,
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"base_low": 2.710887892155873,
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"base_high": 4.216936721131358,
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"optimistic_high": 6.626614847492133,
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"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
|
"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
|
"bubble_reason": "当前价高于基准上沿138.8%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，趋势动量与交易拥挤放大溢价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 1,
|
"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
|
"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
|
"recalc_scope": "institutions",
|
"severity": "WARNING"
|
},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 3
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260819_industry_gap_603330_valuation/天洋新材价格合理性评估_20260819.md",
|
"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_603330_valuation/天洋新材估值快照_20260819.json",
|
"run_status": "GENERATED"
|
},
|
{
|
"ticker": "603356.SH",
|
"company": "华菱精工",
|
"research_name": "华菱精工",
|
"industries": [
|
"新能源"
|
],
|
"research_layers": [
|
"SOLAR"
|
],
|
"price": 16.64,
|
"price_date": "2026-08-19",
|
"normalized_profit": -141503261.1,
|
"normalized_pe": null,
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"pb": 7.345881853078701,
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"consensus_count": 0,
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"consensus_2026": null,
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"forward_pe": null,
|
"base_low": 2.0386932841457925,
|
"base_high": 3.1713006642267887,
|
"optimistic_high": 4.983472472356382,
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"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
|
"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
|
"bubble_reason": "当前价高于基准上沿424.7%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
|
"error_count": 0,
|
"info_count": 1,
|
"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
|
"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
|
"recalc_scope": "institutions",
|
"severity": "WARNING"
|
},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 3
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_603356_valuation/华菱精工价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_603356_valuation/华菱精工估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "603395.SH",
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"company": "红四方",
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"research_name": "红四方",
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"industries": [
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"农业"
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],
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"research_layers": [
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"FERTILIZER:E_CONFIRMED_ZERO"
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],
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"price": 29.0,
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"price_date": "2026-08-19",
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"normalized_profit": 43252154.61,
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"normalized_pe": 174.3265755888317,
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"pb": 5.285589067298245,
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"forward_pe": null,
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"base_low": 1.555414021551923,
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "肥价修复、出口与成本价差改善预期",
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"bubble_reason": "当前价高于基准上沿674.8%；市场最可能提前交易肥价修复、出口与成本价差改善预期，趋势动量与交易拥挤放大溢价。周期利润未被按永久高位资本化。",
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"qa": {
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"error_count": 0,
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"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 1
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_603395_valuation/红四方价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_603395_valuation/红四方估值快照_20260819.json",
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"run_status": "GENERATED"
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},
|
{
|
"ticker": "603396.SH",
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"company": "金辰股份",
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"research_name": "金辰股份",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 25.38,
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"normalized_profit": 51268219.15999999,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"info_count": 1,
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"issues": [
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{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 1
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_603396_valuation/金辰股份价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_603396_valuation/金辰股份估值快照_20260819.json",
|
"run_status": "GENERATED"
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},
|
{
|
"ticker": "603578.SH",
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"company": "三星新材",
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"research_name": "三星新材",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 12.5,
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"price_date": "2026-08-19",
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"normalized_profit": -185758607.92000002,
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"normalized_pe": null,
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"pb": 2.0643307199303202,
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"consensus_2026": null,
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"forward_pe": null,
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"base_low": 5.449708174850847,
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"base_high": 8.477323827545762,
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"label": "偏贵",
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"bubble_status": "泡沫-中",
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"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
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"bubble_reason": "当前价高于基准上沿47.5%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"error_count": 0,
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"info_count": 1,
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"issues": [
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
|
"action": "使用正常化情景、PB 或反向估值。",
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"field": "metrics.ttm_attributable_profit",
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"issue_id": "QA-NEGATIVE-TTM-PROFIT",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "检查主营盈利恢复条件。",
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"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
|
"warning_count": 3
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},
|
"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_603578_valuation/三星新材价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_603578_valuation/三星新材估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "603778.SH",
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"company": "国晟科技",
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"research_name": "国晟科技",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 9.5,
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"normalized_profit": -561485456.9300001,
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"pb": 22.212646993848285,
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
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"bubble_reason": "当前价高于基准上沿1486.6%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"issues": [
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
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{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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},
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{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 4
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_603778_valuation/国晟科技价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_603778_valuation/国晟科技估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
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"ticker": "603806.SH",
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"company": "福斯特",
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"research_name": "福斯特",
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"industries": [
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"新能源"
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],
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"SOLAR"
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],
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"bubble_reason": "当前价高于基准上沿3.1%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"issues": [],
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"status": "PASS",
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_603806_valuation/福斯特价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_603806_valuation/福斯特估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "688032.SH",
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"company": "禾迈股份",
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"research_name": "禾迈股份",
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"industries": [
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"新能源"
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],
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"SOLAR"
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],
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"price": 74.86,
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"label": "偏贵",
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"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
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"bubble_reason": "当前价高于基准上沿17.0%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"issues": [
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{
|
"action": "使用正常化情景、PB 或反向估值。",
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"field": "metrics.ttm_attributable_profit",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "检查主营盈利恢复条件。",
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"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_688032_valuation/禾迈股份价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_688032_valuation/禾迈股份估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "688330.SH",
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"company": "宏力达",
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"industries": [
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"新能源"
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],
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"POWER_SYSTEM"
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],
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；储能、风电、核电或新型电力系统的经营风险仍可能令合理区间下修。",
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"qa": {
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"issues": [
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
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"action": "不得以公司业绩预告或自有情景冒充机构预期。",
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"field": "institutions",
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],
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_688330_valuation/宏力达价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_688330_valuation/宏力达估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
|
{
|
"ticker": "688348.SH",
|
"company": "昱能科技",
|
"research_name": "昱能科技",
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"industries": [
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"新能源"
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],
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"research_layers": [
|
"POWER_SYSTEM",
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"SOLAR",
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"STORAGE"
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],
|
"price": 31.31,
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"price_date": "2026-08-19",
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"normalized_profit": -245486024.65,
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"normalized_pe": null,
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"pb": 1.4646107558119281,
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"consensus_count": 7,
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"consensus_2026": 130491658.225,
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"forward_pe": 37.49700598802395,
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"base_low": 19.239924251668192,
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"base_high": 29.928771058150524,
|
"optimistic_high": 47.03092594852225,
|
"label": "偏贵",
|
"bubble_status": "泡沫-轻",
|
"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
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"bubble_reason": "当前价高于基准上沿4.6%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
|
"qa": {
|
"error_count": 0,
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"info_count": 0,
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"issues": [
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 3
|
},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_688348_valuation/昱能科技价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_688348_valuation/昱能科技估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
|
{
|
"ticker": "688390.SH",
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"company": "固德威",
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"research_name": "固德威",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 65.3,
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"price_date": "2026-08-19",
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"normalized_profit": 194474327.64,
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"pb": 5.580436806406936,
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"forward_pe": 16.689126394053208,
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"base_high": 96.95738181817507,
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"optimistic_high": 191.1445527272594,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"info_count": 0,
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"issues": [],
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"status": "PASS",
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"warning_count": 0
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},
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"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_688390_valuation/固德威价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_688390_valuation/固德威估值快照_20260819.json",
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"run_status": "GENERATED"
|
},
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{
|
"ticker": "688408.SH",
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"company": "中信博",
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"research_name": "中信博",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 24.95,
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"price_date": "2026-08-19",
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"normalized_profit": -193619016.98,
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"pb": 1.3478129473668252,
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"forward_pe": 8.996394230770312,
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"base_low": 16.660323707284117,
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"base_high": 25.91605910021974,
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"optimistic_high": 40.725235728916736,
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"label": "基本合理",
|
"bubble_status": "未识别估值泡沫",
|
"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"info_count": 0,
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"issues": [
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{
|
"action": "使用正常化情景、PB 或反向估值。",
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"field": "metrics.ttm_attributable_profit",
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"issue_id": "QA-NEGATIVE-TTM-PROFIT",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "检查主营盈利恢复条件。",
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"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 3
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_688408_valuation/中信博价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_688408_valuation/中信博估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "688411.SH",
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"company": "海博思创",
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"research_name": "海博思创",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"POWER_SYSTEM",
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"STORAGE"
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],
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"price": 203.3,
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"price_date": "2026-08-19",
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"normalized_profit": 997943607.98,
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"normalized_pe": 37.16950322862671,
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"pb": 7.426799525995469,
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"consensus_count": 15,
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"consensus_2026": 2064997768.8714023,
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"forward_pe": 17.96276427895258,
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"base_low": 158.90271428571228,
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"base_high": 360.586928571424,
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"optimistic_high": 700.3399457142767,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；储能、风电、核电或新型电力系统的经营风险仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"info_count": 0,
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"issues": [],
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"status": "PASS",
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"warning_count": 0
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},
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"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_688411_valuation/海博思创价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_688411_valuation/海博思创估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "688429.SH",
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"company": "时创能源",
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"research_name": "时创能源",
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"industries": [
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"新能源"
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],
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"research_layers": [
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"SOLAR"
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],
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"price": 10.31,
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"normalized_profit": -300247381.67,
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"base_low": 2.901154005261989,
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
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"bubble_reason": "当前价高于基准上沿128.5%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"error_count": 0,
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"issues": [
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{
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"action": "补充法定披露、行情接口或机构预测汇总页来源。",
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"field": "institutions",
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"issue_id": "QA-CORE-SOURCE-MISSING",
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"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
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"recalc_scope": "institutions",
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"severity": "WARNING"
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},
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{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
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"issue_id": "QA-NEGATIVE-TTM-PROFIT",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
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"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
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"severity": "WARNING"
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},
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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},
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{
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"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
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"issue_id": "QA-INSTITUTION-NONE",
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"message": "估值日没有可用机构盈利预测，已明确记录为空。",
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"recalc_scope": "机构预期模块",
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"severity": "INFO"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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"warning_count": 4
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_688429_valuation/时创能源价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_688429_valuation/时创能源估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "688472.SH",
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"company": "阿特斯",
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"research_name": "阿特斯",
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"industries": [
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"新能源"
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],
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],
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
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"qa": {
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_688472_valuation/阿特斯价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_688472_valuation/阿特斯估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "688503.SH",
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"company": "聚和材料",
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"research_name": "聚和材料",
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"industries": [
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"新能源"
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],
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],
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"price": 94.29,
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"label": "偏贵",
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"bubble_status": "泡沫-中",
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"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
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"bubble_reason": "当前价高于基准上沿37.0%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"info_count": 0,
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"issues": [
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{
|
"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"issue_id": "QA-NEGATIVE-FCF",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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"severity": "WARNING"
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}
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],
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"status": "PASS_WITH_WARNINGS",
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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_688503_valuation/聚和材料价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_688503_valuation/聚和材料估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "688516.SH",
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"company": "奥特维",
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"research_name": "奥特维",
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"industries": [
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"新能源"
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],
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"SOLAR"
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],
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"price": 40.86,
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"normalized_profit": 331408747.71000004,
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"label": "基本合理",
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"bubble_status": "未识别估值泡沫",
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"bubble_primary_cause": "当前价未超过基准合理区间上沿",
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"bubble_reason": "当前价未超过基准上沿；光伏或锂电材料、设备、组件与系统的经营风险仍可能令合理区间下修。",
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"qa": {
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"error_count": 0,
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"status": "PASS",
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},
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"formal_path": "ana-data/result/股票估值/20260819_industry_gap_688516_valuation/奥特维价格合理性评估_20260819.md",
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"snapshot_path": "ana-data/result/股票估值/20260819_industry_gap_688516_valuation/奥特维估值快照_20260819.json",
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"run_status": "GENERATED"
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},
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{
|
"ticker": "688556.SH",
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"company": "高测股份",
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"research_name": "高测股份",
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"industries": [
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"新能源"
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],
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],
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"label": "偏贵",
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"bubble_status": "泡沫-中",
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"bubble_primary_cause": "新能源供需修复、储能或电动化成长预期",
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"bubble_reason": "当前价高于基准上沿24.4%；市场最可能提前交易新能源供需修复、储能或电动化成长预期，乐观利润和估值倍数被提前定价。尚无证据证明主题预期已全部转化为利润。",
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"qa": {
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"info_count": 0,
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"issues": [
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{
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"action": "使用正常化情景、PB 或反向估值。",
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"field": "metrics.ttm_attributable_profit",
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"message": "TTM 归母利润不为正，报告 PE 不适用。",
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"recalc_scope": "PE 模块",
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"severity": "WARNING"
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},
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{
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"action": "检查主营盈利恢复条件。",
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"field": "metrics.ttm_deduct_profit",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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},
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{
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"action": "拆解营运资本、资本开支与回款持续性。",
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"field": "metrics.annual_fcf",
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"message": "最近完整年度简化自由现金流为负。",
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"recalc_scope": "DCF 与现金流交叉验证",
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],
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},
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},
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{
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{
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"action": "使用正常化情景、PB 或反向估值。",
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},
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{
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{
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"action": "拆解营运资本、资本开支与回款持续性。",
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{
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{
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"SOLAR",
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},
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{
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"action": "检查主营盈利恢复条件。",
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"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
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{
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"ticker": "688660.SH",
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{
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{
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{
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{
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}
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