from __future__ import annotations
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from typing import Any
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HEADINGS = [
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"结论摘要",
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"市场和资本结构",
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"信源优先级",
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"业务及利润来源",
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"历史盈利",
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"TTM 与归一化",
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"机构预期",
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"利润质量与现金流",
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"模型选择",
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"三情景",
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"反向隐含条件",
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"交叉验证",
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"持有期测试",
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"风险与触发器",
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"复评清单",
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"数据局限和复算摘要",
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]
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def _fmt(value: Any) -> str:
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if value is None:
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return "GAP"
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return str(value)
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def render_report(
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snapshot: dict[str, Any],
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build_report: dict[str, Any],
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gaps: list[dict[str, Any]],
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results: dict[str, Any] | None,
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) -> str:
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market = snapshot["market"]
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financials = snapshot["financials"]
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balance = snapshot["balance_sheet"]
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institutions = snapshot.get("institutions", {})
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analysis = snapshot.get("analysis", {})
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lines = [
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f"# {snapshot['meta']['company']}（{snapshot['meta']['code']}）价格合理性评估",
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"",
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f"数据截止：{snapshot['meta']['as_of_date']}。本报告用于研究与复算，不构成交易指令或收益承诺。",
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"",
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]
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content: dict[str, list[str]] = {}
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if results is None:
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conclusion = [
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"数据采集、来源回链和机械检查已完成。",
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"",
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"GAP：需要人工判断覆盖层。本终态不提供方向性价格区间或评价。",
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]
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else:
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metrics = results["metrics"]
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base = next(item for item in results["scenarios"] if item["role"] == "base")
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conclusion = [
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f"V1 单一计算源给出的基准情景价格范围为 {_fmt(base['price_low'])} 至 {_fmt(base['price_high'])} 元/股。",
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"",
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f"当前收盘价 {_fmt(metrics['price'])} 元/股；该结果只表达已给定情景的机械映射。",
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]
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content[HEADINGS[0]] = conclusion
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content[HEADINGS[1]] = [
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"| 项目 | 数值 | 日期 |",
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"|---|---:|---|",
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f"| 收盘价 | {_fmt(market['price'])} 元/股 | {market['price_timestamp']} |",
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f"| 摊薄股本 | {_fmt(market['diluted_shares'])} 股 | {market['shares_date']} |",
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f"| 平台市值 | {_fmt(market['platform_market_cap'])} 元 | {market['shares_date']} |",
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f"| 归母权益 | {_fmt(balance['equity'])} 元 | {balance['period_end']} |",
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]
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content[HEADINGS[2]] = [
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"核心财务以 A1 法定公告身份回链，结构化财务与行情仅承担字段取得和勾稽。",
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"",
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f"已归档原始哈希 {len(build_report.get('raw_hashes', []))} 个；as-of 检查={build_report.get('as_of_safe')}。",
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]
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content[HEADINGS[3]] = [
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*(analysis.get("profit_sources") or ["GAP：需要人工判断覆盖层。"]),
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]
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content[HEADINGS[4]] = [
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"| 期间 | 收入 | 归母净利润 | 扣非归母净利润 |",
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"|---|---:|---:|---:|",
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*[
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f"| {item['period_end']} | {_fmt(item['revenue'])} | {_fmt(item['attributable_profit'])} | {_fmt(item['deduct_profit'])} |"
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for item in (
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financials["annual"],
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financials["current_cumulative"],
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financials["prior_year_same_period"],
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)
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],
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]
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if results:
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metrics = results["metrics"]
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content[HEADINGS[5]] = [
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"| 指标 | V1 结果 |",
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"|---|---:|",
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f"| TTM 收入 | {_fmt(metrics['ttm_revenue'])} |",
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f"| TTM 归母净利润 | {_fmt(metrics['ttm_attributable_profit'])} |",
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f"| TTM 扣非净利润 | {_fmt(metrics['ttm_deduct_profit'])} |",
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f"| 归一化利润 | {_fmt(metrics['normalized_profit'])} |",
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]
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else:
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content[HEADINGS[5]] = ["法定三期数据已就绪。", "", "GAP：需要人工判断覆盖层。"]
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forecasts = institutions.get("forecasts") or []
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content[HEADINGS[6]] = [
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"| 机构 | 报告日期 | 2026E 利润 |",
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"|---|---|---:|",
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*[
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f"| {item['institution']} | {item['report_date']} | {_fmt((item.get('estimates', {}).get('2026') or {}).get('profit'))} |"
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for item in forecasts
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],
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f"覆盖状态：{institutions.get('coverage_status', 'gap')}。",
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]
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content[HEADINGS[7]] = [
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*(analysis.get("cashflow_notes") or ["GAP：需要人工判断覆盖层。"]),
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"",
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f"年度经营现金流 {_fmt(financials['annual']['cfo'])} 元；当期累计 {_fmt(financials['current_cumulative']['cfo'])} 元。",
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]
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content[HEADINGS[8]] = [analysis.get("primary_model") or "GAP：需要人工判断覆盖层。"]
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if results:
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content[HEADINGS[9]] = [
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"| 情景 | 角色 | 价格下限 | 价格上限 |",
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"|---|---|---:|---:|",
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*[
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f"| {item['name']} | {item['role']} | {_fmt(item['price_low'])} | {_fmt(item['price_high'])} |"
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for item in results["scenarios"]
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],
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]
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content[HEADINGS[10]] = [
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"| PE | 隐含利润 |",
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"|---:|---:|",
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*[f"| {item['pe']} | {item['implied_profit']} |" for item in results["reverse_pe"]],
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]
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metrics = results["metrics"]
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content[HEADINGS[11]] = [
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f"PB={metrics['pb']}；PS={metrics['ps']}；企业价值={metrics['enterprise_value']}。",
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*(analysis.get("cross_checks") or []),
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]
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holding = results["holding_period"]
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content[HEADINGS[12]] = [
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f"{holding['years']} 年、要求回报率 {holding['required_return']} 下，所需退出价格为 {holding['required_exit_price']} 元/股。"
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]
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else:
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for heading in HEADINGS[9:13]:
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content[heading] = ["GAP：需要人工判断覆盖层。本节不生成伪情景、伪价格或伪回报。"]
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risks = analysis.get("risks") or []
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triggers = (analysis.get("upgrade_triggers") or []) + (analysis.get("downgrade_triggers") or [])
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content[HEADINGS[13]] = [
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*(risks or ["GAP：需要人工判断覆盖层。"]),
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"",
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*(triggers or ["GAP：需要人工判断覆盖层。"]),
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]
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content[HEADINGS[14]] = [
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"复评时只刷新最新价格/股本、新财报、公告修订和机构预测；历史 A1 内容按哈希复用。",
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"",
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"确认发布日与数据日均不晚于新 as-of，重新运行 QA。",
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]
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content[HEADINGS[15]] = [
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f"本次共有 {len(gaps)} 个显式 gap。全部核心字段均保留 provider、source_id 与 raw hash 回链。",
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"",
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"报告数值来自 data_snapshot；存在判断覆盖时，估值数值只来自只读 V1 results。",
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]
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for index, heading in enumerate(HEADINGS, start=1):
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lines.extend([f"## {index}. {heading}", "", *content[heading], ""])
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return "\n".join(lines).rstrip() + "\n"
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