{
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"batch_id": "BATCH-STOCK-VALUATION-INDUSTRY-RESEARCH-GAPS-20260814-001",
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"as_of": "2026-08-13",
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"missing_before": 180,
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"success": 180,
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{
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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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"bubble_reason": "当前价未超过基准上沿；光伏材料、设备、组件或电站的经营风险仍可能令合理区间下修。",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_000708_valuation/中信特钢估值快照_20260813.json",
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},
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{
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"ticker": "000837.SZ",
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"company": "秦川机床",
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],
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"ticker": "001289.SZ",
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"message": "最近完整年度简化自由现金流为负。",
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"ticker": "002011.SZ",
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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；机器人核心零部件、自动化或关联制造的经营风险仍可能令合理区间下修。",
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{
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"bubble_reason": "当前价未超过基准上沿；机器人核心零部件、自动化或关联制造的经营风险仍可能令合理区间下修。",
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},
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{
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"ticker": "002074.SZ",
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"company": "国轩高科",
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{
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"bubble_reason": "当前价未超过基准上沿；集成电路设计与芯片产品的经营风险仍可能令合理区间下修。",
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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；机器人核心零部件、自动化或关联制造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": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_002415_valuation/海康威视价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_002415_valuation/海康威视估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "002428.SZ",
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"company": "云南锗业",
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"research_name": "云南锗业",
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"industries": [
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"半导体"
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],
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"research_layers": [
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"OFFICIAL_IDENTITY_INDEXED"
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],
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"forward_pe": 248.4545454547508,
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"base_low": 8.80879999999272,
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"base_high": 19.989199999983477,
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"optimistic_high": 39.40727999996742,
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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": "半导体材料国产替代与客户认证预期",
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"bubble_reason": "当前价高于基准上沿401.3%；市场最可能提前交易半导体材料国产替代与客户认证预期，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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{
|
"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。",
|
"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": 2
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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/20260813_industry_gap_002428_valuation/云南锗业价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_002428_valuation/云南锗业估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "002429.SZ",
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"company": "兆驰股份",
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"research_name": "兆驰股份/兆驰半导体",
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"industries": [
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"半导体"
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],
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"research_layers": [
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"OFFICIAL_IDENTITY_INDEXED"
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],
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"price": 8.28,
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"price_date": "2026-08-13",
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"normalized_profit": 1005246122.4899997,
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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；集成电路设计与芯片产品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": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_002429_valuation/兆驰股份价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_002429_valuation/兆驰股份估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "002475.SZ",
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"company": "立讯精密",
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"research_name": "立讯精密",
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"industries": [
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"机器人"
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],
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"research_layers": [
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"CORE_CANDIDATE_REVIEWED_NOT_FORMAL"
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],
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"price_date": "2026-08-13",
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"normalized_profit": 14535547889.840002,
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"normalized_pe": 29.842850205017953,
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"pb": 4.881216512656556,
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"base_high": 123.3984999999941,
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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；机器人核心零部件、自动化或关联制造的经营风险仍可能令合理区间下修。",
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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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"warning_count": 1
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},
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_002475_valuation/立讯精密价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_002475_valuation/立讯精密估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "002487.SZ",
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"company": "大金重工",
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"research_name": "大金重工",
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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；风电、核电设备或运营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": "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": "QUOTE_EXACT_HISTORY_DATE_GAP",
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_002487_valuation/大金重工价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_002487_valuation/大金重工估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "002497.SZ",
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"company": "雅化集团",
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"research_name": "雅化集团",
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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；风电、核电设备或运营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": "拆解营运资本、资本开支与回款持续性。",
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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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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_002497_valuation/雅化集团价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_002497_valuation/雅化集团估值快照_20260813.json",
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},
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{
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"ticker": "002623.SZ",
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"company": "亚玛顿",
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"research_name": "亚玛顿",
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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；光伏材料、设备、组件或电站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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},
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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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},
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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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"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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},
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{
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"ticker": "002627.SZ",
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"company": "三峡旅游",
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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；风电、核电设备或运营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": "拆解营运资本、资本开支与回款持续性。",
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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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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_002627_valuation/三峡旅游价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_002627_valuation/三峡旅游估值快照_20260813.json",
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},
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{
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"ticker": "002632.SZ",
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"company": "道明光学",
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"industries": [
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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；机器人核心零部件、自动化或关联制造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/20260813_industry_gap_002632_valuation/道明光学价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_002632_valuation/道明光学估值快照_20260813.json",
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},
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{
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"ticker": "002708.SZ",
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"company": "光洋股份",
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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；机器人核心零部件、自动化或关联制造的经营风险仍可能令合理区间下修。",
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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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],
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_002708_valuation/光洋股份估值快照_20260813.json",
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},
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{
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],
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"bubble_reason": "当前价高于基准上沿31.8%；市场最可能提前交易机器人、自动化或智能制造成长预期，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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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_002886_valuation/沃特股份估值快照_20260813.json",
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},
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{
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"ticker": "003025.SZ",
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"company": "思进智能",
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],
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],
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"bubble_reason": "当前价未超过基准上沿；机器人核心零部件、自动化或关联制造的经营风险仍可能令合理区间下修。",
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},
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{
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"ticker": "003816.SZ",
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"company": "中国广核",
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"research_name": "中国广核",
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"industries": [
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"bubble_reason": "当前价未超过基准上沿；风电、核电设备或运营的经营风险仍可能令合理区间下修。",
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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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"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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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_003816_valuation/中国广核估值快照_20260813.json",
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{
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"company": "亿纬锂能",
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"research_name": "亿纬锂能",
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"机器人"
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],
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],
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"bubble_reason": "当前价未超过基准上沿；锂电材料、电池或设备的经营风险仍可能令合理区间下修。",
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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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],
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},
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_300014_valuation/亿纬锂能价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300014_valuation/亿纬锂能估值快照_20260813.json",
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"run_status": "REUSED"
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{
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"ticker": "300042.SZ",
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"company": "朗科科技",
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"research_name": "朗科科技",
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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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"bubble_reason": "当前价高于基准上沿279.0%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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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"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": "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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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300046_valuation/台基股份估值快照_20260813.json",
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},
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{
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"ticker": "300077.SZ",
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"company": "国民技术",
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"research_name": "国民技术",
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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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"recalc_scope": "扣非 PE 模块",
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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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"message": "最近完整年度简化自由现金流为负。",
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{
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"bubble_reason": "当前价高于基准上沿169.1%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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": "检查主营盈利恢复条件。",
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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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{
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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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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300102_valuation/乾照光电估值快照_20260813.json",
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"run_status": "REUSED"
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"ticker": "300136.SZ",
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"company": "信维通信",
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},
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{
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"company": "欣旺达",
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"机器人"
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],
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300223_valuation/北京君正估值快照_20260813.json",
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},
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{
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"ticker": "300236.SZ",
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"company": "上海新阳",
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"research_name": "上海新阳",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300236_valuation/上海新阳估值快照_20260813.json",
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{
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"company": "阳光电源",
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],
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300274_valuation/阳光电源估值快照_20260813.json",
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},
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],
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},
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{
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"field": "institutions",
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{
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"bubble_reason": "当前价未超过基准上沿；半导体设备、厂务或EDA的经营风险仍可能令合理区间下修。",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300316_valuation/晶盛机电估值快照_20260813.json",
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{
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"ticker": "300319.SZ",
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"research_name": "麦捷科技",
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"industries": [
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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；集成电路设计与芯片产品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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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300319_valuation/麦捷科技估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "300323.SZ",
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"company": "华灿光电",
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"research_name": "华灿光电",
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"industries": [
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],
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],
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"bubble_primary_cause": "新品、AI算力或国产芯片成长预期",
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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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"action": "检查主营盈利恢复条件。",
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"recalc_scope": "扣非 PE 模块",
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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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"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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],
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},
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300323_valuation/华灿光电估值快照_20260813.json",
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{
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"ticker": "300338.SZ",
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"label": "明显偏贵",
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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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"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",
|
"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
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},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260813_industry_gap_300338_valuation/ST开元价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300338_valuation/ST开元估值快照_20260813.json",
|
"run_status": "REUSED",
|
"special_valuation_status": "NON_POSITIVE_ATTRIBUTABLE_EQUITY"
|
},
|
{
|
"ticker": "300351.SZ",
|
"company": "永贵电器",
|
"research_name": "永贵电器",
|
"industries": [
|
"机器人"
|
],
|
"research_layers": [
|
"CORE_CANDIDATE_REVIEWED_NOT_FORMAL"
|
],
|
"price": 14.27,
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"price_date": "2026-08-13",
|
"normalized_profit": 11211768.919999994,
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"normalized_pe": 494.9871854511967,
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"pb": 2.242569944312918,
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"consensus_count": 1,
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"consensus_2026": 151673157.48000002,
|
"forward_pe": 36.589743589743584,
|
"base_low": 6.996600000000001,
|
"base_high": 17.062500000000004,
|
"optimistic_high": 33.6375,
|
"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；机器人核心零部件、自动化或关联制造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": [
|
{
|
"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
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},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260813_industry_gap_300351_valuation/永贵电器价格合理性评估_20260813.md",
|
"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300351_valuation/永贵电器估值快照_20260813.json",
|
"run_status": "REUSED"
|
},
|
{
|
"ticker": "300438.SZ",
|
"company": "鹏辉能源",
|
"research_name": "鹏辉能源",
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"industries": [
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"机器人"
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],
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"research_layers": [
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"NOISE_OR_OUT_OF_SCOPE"
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],
|
"price": 64.92,
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"price_date": "2026-08-13",
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"normalized_profit": 482121468.75999993,
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"normalized_pe": 67.77763084320694,
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"pb": 5.736005063558906,
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"consensus_count": 11,
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"consensus_2026": 1723447664.6399999,
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"forward_pe": 18.960280373831775,
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"base_low": 61.42656,
|
"base_high": 141.41119999999998,
|
"optimistic_high": 278.78207999999995,
|
"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；机器人核心零部件、自动化或关联制造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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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_300438_valuation/鹏辉能源价格合理性评估_20260813.md",
|
"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300438_valuation/鹏辉能源估值快照_20260813.json",
|
"run_status": "REUSED"
|
},
|
{
|
"ticker": "300443.SZ",
|
"company": "金雷股份",
|
"research_name": "金雷股份",
|
"industries": [
|
"新能源"
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],
|
"research_layers": [
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"INCLUDED_INCREMENTAL"
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],
|
"price": 20.87,
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"price_date": "2026-08-13",
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"normalized_profit": 327079318.05,
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"normalized_pe": 20.42687718713739,
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"pb": 1.0507416825403681,
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"consensus_count": 10,
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"consensus_2026": 569341597.2874132,
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"forward_pe": 11.734974384608707,
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"base_low": 24.96935999999376,
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"base_high": 56.66123999998583,
|
"optimistic_high": 110.04871946663914,
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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；风电、核电设备或运营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": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260813_industry_gap_300443_valuation/金雷股份价格合理性评估_20260813.md",
|
"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300443_valuation/金雷股份估值快照_20260813.json",
|
"run_status": "REUSED"
|
},
|
{
|
"ticker": "300458.SZ",
|
"company": "全志科技",
|
"research_name": "全志科技",
|
"industries": [
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"半导体"
|
],
|
"research_layers": [
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"OFFICIAL_IDENTITY_INDEXED"
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],
|
"price": 34.17,
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"price_date": "2026-08-13",
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"normalized_profit": 375589016.34000003,
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"normalized_pe": 90.39824579053875,
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"pb": 10.227074093934586,
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"consensus_count": 2,
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"consensus_2026": 541532355.205,
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"forward_pe": 62.69724770642202,
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"base_low": 12.753000000000002,
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"base_high": 28.939500000000006,
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"optimistic_high": 57.68607,
|
"label": "偏贵",
|
"bubble_status": "泡沫-中",
|
"bubble_primary_cause": "新品、AI算力或国产芯片成长预期",
|
"bubble_reason": "当前价高于基准上沿18.1%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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": [],
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"status": "PASS",
|
"warning_count": 0
|
},
|
"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
|
"formal_path": "ana-data/result/股票估值/20260813_industry_gap_300458_valuation/全志科技价格合理性评估_20260813.md",
|
"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300458_valuation/全志科技估值快照_20260813.json",
|
"run_status": "REUSED"
|
},
|
{
|
"ticker": "300480.SZ",
|
"company": "光力科技",
|
"research_name": "光力科技",
|
"industries": [
|
"半导体"
|
],
|
"research_layers": [
|
"OFFICIAL_IDENTITY_INDEXED"
|
],
|
"price": 34.04,
|
"price_date": "2026-08-13",
|
"normalized_profit": 37761036.470000006,
|
"normalized_pe": 333.7402381423562,
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"pb": 7.417637014358224,
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"consensus_count": 3,
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"consensus_2026": 99960102.0,
|
"forward_pe": 126.07407407407408,
|
"base_low": 6.318,
|
"base_high": 14.337,
|
"optimistic_high": 28.57842,
|
"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
|
"bubble_primary_cause": "新品、AI算力或国产芯片成长预期",
|
"bubble_reason": "当前价高于基准上沿137.4%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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": "QUOTE_EXACT_HISTORY_DATE_GAP",
|
"formal_path": "ana-data/result/股票估值/20260813_industry_gap_300480_valuation/光力科技价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300480_valuation/光力科技估值快照_20260813.json",
|
"run_status": "REUSED"
|
},
|
{
|
"ticker": "300602.SZ",
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"company": "飞荣达",
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"research_name": "飞荣达",
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"industries": [
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"机器人"
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],
|
"research_layers": [
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"SUPPLEMENT_REQUIRED"
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],
|
"price": 37.56,
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"price_date": "2026-08-13",
|
"normalized_profit": 374571198.51,
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"normalized_pe": 58.34615836801061,
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"pb": 5.266357709834869,
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"forward_pe": 29.96808510639095,
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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；机器人核心零部件、自动化或关联制造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,
|
"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",
|
"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
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},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260813_industry_gap_300602_valuation/飞荣达价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300602_valuation/飞荣达估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "300623.SZ",
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"company": "捷捷微电",
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"research_name": "捷捷微电",
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"industries": [
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"半导体"
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],
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"research_layers": [
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"OFFICIAL_IDENTITY_INDEXED"
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],
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"price": 26.69,
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"normalized_profit": 465139196.0,
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"pb": 3.621068910136982,
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"forward_pe": 30.784313725490197,
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"base_low": 20.2878,
|
"base_high": 48.76875,
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"optimistic_high": 97.212375,
|
"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；集成电路设计与芯片产品的经营风险仍可能令合理区间下修。",
|
"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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"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/20260813_industry_gap_300623_valuation/捷捷微电价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300623_valuation/捷捷微电估值快照_20260813.json",
|
"run_status": "REUSED"
|
},
|
{
|
"ticker": "300644.SZ",
|
"company": "南京聚隆",
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"research_name": "南京聚隆",
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"industries": [
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"机器人"
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],
|
"research_layers": [
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"ADJACENT_CANDIDATE"
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],
|
"price": 21.39,
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"price_date": "2026-08-13",
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"normalized_profit": 122935952.52000001,
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"normalized_pe": 19.25746362078132,
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"pb": 2.1157664038930046,
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"base_low": 21.714931324015847,
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"base_high": 48.59479516243956,
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"optimistic_high": 95.80116760595227,
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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；机器人核心零部件、自动化或关联制造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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"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": "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。",
|
"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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"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/20260813_industry_gap_300644_valuation/南京聚隆价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300644_valuation/南京聚隆估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "300655.SZ",
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"company": "晶瑞电材",
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"research_name": "晶瑞电材",
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],
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],
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"pb": 5.234551596505989,
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
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"bubble_reason": "当前价高于基准上沿119.1%；市场最可能提前交易半导体材料国产替代与客户认证预期，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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"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/20260813_industry_gap_300655_valuation/晶瑞电材价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300655_valuation/晶瑞电材估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "300661.SZ",
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"company": "圣邦股份",
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"research_name": "圣邦股份",
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"industries": [
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"半导体"
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],
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"PRIMARY_EVIDENCE_ENRICHED_WITH_EXPLICIT_GAPS"
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],
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"base_high": 70.33336363633948,
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"label": "偏贵",
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"bubble_status": "泡沫-高",
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"bubble_primary_cause": "新品、AI算力或国产芯片成长预期",
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"bubble_reason": "当前价高于基准上沿68.8%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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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"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/20260813_industry_gap_300661_valuation/圣邦股份价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300661_valuation/圣邦股份估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "300681.SZ",
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"company": "英搏尔",
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"research_name": "英搏尔",
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"industries": [
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"机器人"
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],
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"research_layers": [
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],
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"price": 21.51,
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"price_date": "2026-08-13",
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"normalized_profit": 132161721.17999999,
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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；机器人核心零部件、自动化或关联制造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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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300681_valuation/英搏尔估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "300684.SZ",
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"company": "中石科技",
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"research_name": "中石科技",
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"industries": [
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"机器人"
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],
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"research_layers": [
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"NOISE_OR_OUT_OF_SCOPE"
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],
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"price": 56.13,
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"normalized_profit": 345783106.37999994,
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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；机器人核心零部件、自动化或关联制造的经营风险仍可能令合理区间下修。",
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},
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{
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"ticker": "300695.SZ",
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"company": "兆丰股份",
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"research_name": "兆丰股份",
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"industries": [
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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；机器人核心零部件、自动化或关联制造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/20260813_industry_gap_300695_valuation/兆丰股份价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300695_valuation/兆丰股份估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "300718.SZ",
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"company": "长盛轴承",
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"research_name": "长盛轴承",
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"industries": [
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],
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],
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"pb": 10.807249958978527,
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"base_low": 15.473008644169237,
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"base_high": 34.626298116747016,
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"label": "偏贵",
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"bubble_status": "泡沫-高",
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"bubble_primary_cause": "机器人、自动化或智能制造成长预期",
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"bubble_reason": "当前价高于基准上沿88.4%；市场最可能提前交易机器人、自动化或智能制造成长预期，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": 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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{
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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/20260813_industry_gap_300718_valuation/长盛轴承价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300718_valuation/长盛轴承估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "300782.SZ",
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"company": "卓胜微",
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"research_name": "卓胜微",
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],
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],
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"bubble_primary_cause": "新品、AI算力或国产芯片成长预期",
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"bubble_reason": "当前价高于基准上沿211.4%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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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{
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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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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_300782_valuation/卓胜微价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300782_valuation/卓胜微估值快照_20260813.json",
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{
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"ticker": "300809.SZ",
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"company": "华辰装备",
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],
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"bubble_reason": "当前价高于基准上沿455.4%；市场最可能提前交易机器人、自动化或智能制造成长预期，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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{
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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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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300809_valuation/华辰装备估值快照_20260813.json",
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{
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"ticker": "300820.SZ",
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"company": "英杰电气",
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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；半导体设备、厂务或EDA的经营风险仍可能令合理区间下修。",
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"label": "偏贵",
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"bubble_reason": "当前价高于基准上沿60.6%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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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"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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{
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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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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_300831_valuation/ST派瑞价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300831_valuation/ST派瑞估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "300863.SZ",
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"company": "卡倍亿",
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"research_name": "卡倍亿",
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"industries": [
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"机器人"
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],
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"research_layers": [
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"ADJACENT_CANDIDATE"
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],
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"price": 43.37,
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"price_date": "2026-08-13",
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"normalized_profit": 102870684.11999999,
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"normalized_pe": 110.20813795517316,
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"pb": 7.615429692701679,
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"forward_pe": 28.817275747508305,
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"base_low": 26.9997,
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"base_high": 62.156499999999994,
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"optimistic_high": 122.53709999999998,
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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；机器人核心零部件、自动化或关联制造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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{
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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。",
|
"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/20260813_industry_gap_300863_valuation/卡倍亿价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_300863_valuation/卡倍亿估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "301070.SZ",
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"company": "开勒股份",
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"research_name": "开勒股份",
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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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"INCLUDED_INCREMENTAL"
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],
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"normalized_profit": -17082117.92,
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"pb": 11.31796931780785,
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"consensus_2026": 47946247.68,
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"forward_pe": 171.18421052631578,
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"base_low": 5.3352,
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"base_high": 12.825,
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"optimistic_high": 24.909,
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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407.2%；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": 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",
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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",
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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": 2
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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/20260813_industry_gap_301070_valuation/开勒股份价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_301070_valuation/开勒股份估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "301076.SZ",
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"company": "新瀚新材",
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"research_name": "新瀚新材",
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"industries": [
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"机器人"
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],
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"research_layers": [
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"ADJACENT_CANDIDATE"
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],
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"price": 22.4,
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"price_date": "2026-08-13",
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"normalized_profit": 57120505.09,
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"normalized_pe": 89.47741858982221,
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"pb": 4.244275062212871,
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"forward_pe": null,
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"base_low": 4.894195730070068,
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"base_high": 10.952484050668312,
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"optimistic_high": 21.59203998560324,
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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": "机器人、自动化或智能制造成长预期",
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"bubble_reason": "当前价高于基准上沿104.5%；市场最可能提前交易机器人、自动化或智能制造成长预期，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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{
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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/20260813_industry_gap_301076_valuation/新瀚新材价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_301076_valuation/新瀚新材估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "301095.SZ",
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"company": "广立微",
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"research_name": "广立微",
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"industries": [
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"半导体"
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],
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"research_layers": [
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"PRIMARY_EVIDENCE_ENRICHED_WITH_EXPLICIT_GAPS"
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],
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"price": 73.6,
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"normalized_profit": 45996699.09,
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"normalized_pe": 320.47273757530843,
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"pb": 4.692236675778248,
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"consensus_count": 9,
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"consensus_2026": 151546023.2534001,
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"forward_pe": 97.2687224669175,
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"base_low": 18.88640000000832,
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"base_high": 42.85760000001887,
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"optimistic_high": 83.78660800003689,
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"label": "偏贵",
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"bubble_status": "泡沫-高",
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"bubble_primary_cause": "半导体设备国产替代与资本开支预期",
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"bubble_reason": "当前价高于基准上沿71.7%；市场最可能提前交易半导体设备国产替代与资本开支预期，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": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_301095_valuation/广立微价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_301095_valuation/广立微估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "301152.SZ",
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"company": "天力锂能",
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"research_name": "天力锂能",
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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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"INCLUDED_T1"
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],
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"price": 19.95,
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"pb": 1.9558964223047637,
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"base_low": 9.179933965440982,
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"base_high": 14.279897279574861,
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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39.7%；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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"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。",
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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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},
|
{
|
"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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{
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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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"warning_count": 3
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},
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_301152_valuation/天力锂能价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_301152_valuation/天力锂能估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "301297.SZ",
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"company": "富乐德",
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"research_name": "富乐德",
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"industries": [
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"半导体"
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],
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"research_layers": [
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],
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"price_date": "2026-08-13",
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"normalized_profit": 218026725.61,
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"normalized_pe": 109.99314554848348,
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"pb": 4.398603097957233,
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"forward_pe": null,
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"base_low": 8.0074989728498,
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"base_high": 17.663600675403973,
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"optimistic_high": 35.209444012971915,
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"label": "偏贵",
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"bubble_status": "泡沫-高",
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"bubble_primary_cause": "新品、AI算力或国产芯片成长预期",
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"bubble_reason": "当前价高于基准上沿95.5%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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。",
|
"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": "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",
|
"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": 2
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},
|
"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_301297_valuation/富乐德价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_301297_valuation/富乐德估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "301348.SZ",
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"company": "蓝箭电子",
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"research_name": "蓝箭电子",
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"industries": [
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"半导体"
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],
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"research_layers": [
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],
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"price": 20.15,
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"price_date": "2026-08-13",
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"normalized_profit": -38483556.73,
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"pb": 3.2913719576392966,
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"base_low": 5.5098603966375,
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"base_high": 9.1831006610625,
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"optimistic_high": 14.6929610577,
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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": "先进封装与行业景气修复预期",
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"bubble_reason": "当前价高于基准上沿119.4%；市场最可能提前交易先进封装与行业景气修复预期，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": 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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},
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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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{
|
"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",
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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/20260813_industry_gap_301348_valuation/蓝箭电子价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_301348_valuation/蓝箭电子估值快照_20260813.json",
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"run_status": "REUSED"
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},
|
{
|
"ticker": "301369.SZ",
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"company": "联动科技",
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"research_name": "联动科技",
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"industries": [
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],
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],
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"price": 142.21,
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"forward_pe": 104.33602347762289,
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"label": "偏贵",
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"bubble_reason": "当前价高于基准上沿96.5%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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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{
|
"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。",
|
"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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"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/20260813_industry_gap_301369_valuation/联动科技价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_301369_valuation/联动科技估值快照_20260813.json",
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"run_status": "REUSED"
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},
|
{
|
"ticker": "301510.SZ",
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"company": "固高科技",
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"research_name": "固高科技",
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"industries": [
|
"机器人"
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],
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"research_layers": [
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"CORE_CANDIDATE_REVIEWED_NOT_FORMAL"
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],
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"price": 26.39,
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"price_date": "2026-08-13",
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"normalized_profit": 68098104.92999999,
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"normalized_pe": 156.72410053364462,
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"pb": 7.354814301313697,
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"consensus_count": 1,
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"consensus_2026": 121325664.0,
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"forward_pe": 87.96666666666667,
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"base_low": 5.382,
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"base_high": 13.125,
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"optimistic_high": 25.874999999999996,
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"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
|
"bubble_primary_cause": "机器人、自动化或智能制造成长预期",
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"bubble_reason": "当前价高于基准上沿101.1%；市场最可能提前交易机器人、自动化或智能制造成长预期，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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"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/20260813_industry_gap_301510_valuation/固高科技价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_301510_valuation/固高科技估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "600019.SH",
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"company": "宝钢股份",
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"research_name": "宝钢股份",
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"industries": [
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"机器人"
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],
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"ADJACENT_CANDIDATE"
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],
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"price": 5.67,
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"normalized_profit": 9697163908.080002,
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"pb": 0.5928396603325018,
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"base_high": 22.40525,
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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；机器人核心零部件、自动化或关联制造的经营风险仍可能令合理区间下修。",
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"qa": {
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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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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_600019_valuation/宝钢股份价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_600019_valuation/宝钢股份估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "600143.SH",
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"company": "金发科技",
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"research_name": "金发科技",
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"industries": [
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"机器人"
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],
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"ADJACENT_CANDIDATE"
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],
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"price": 15.35,
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"normalized_profit": 1138015480.1499999,
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"pb": 2.0800102137947865,
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"forward_pe": 22.246376811594203,
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"base_low": 12.3786,
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"base_high": 28.497,
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"optimistic_high": 56.17979999999999,
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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；机器人核心零部件、自动化或关联制造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/20260813_industry_gap_600143_valuation/金发科技价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_600143_valuation/金发科技估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "600171.SH",
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"company": "上海贝岭",
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"research_name": "上海贝岭",
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"industries": [
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"半导体"
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],
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"OFFICIAL_IDENTITY_AND_REPORT_MENTION_INDEXED"
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],
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"price": 23.11,
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"price_date": "2026-08-13",
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"normalized_profit": 181982434.69,
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"normalized_pe": 90.02636743616588,
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"pb": 3.602749550084089,
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"forward_pe": null,
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"base_low": 6.545915566546132,
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"base_high": 14.439519632087055,
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"optimistic_high": 28.7827757999602,
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"label": "偏贵",
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"bubble_status": "泡沫-高",
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"bubble_primary_cause": "新品、AI算力或国产芯片成长预期",
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"bubble_reason": "当前价高于基准上沿60.0%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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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{
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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/20260813_industry_gap_600171_valuation/上海贝岭价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_600171_valuation/上海贝岭估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "600438.SH",
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"company": "通威股份",
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"research_name": "通威股份",
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"industries": [
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],
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],
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"bubble_status": "泡沫-轻",
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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13.8%；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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"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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{
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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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}
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],
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_600438_valuation/通威股份估值快照_20260813.json",
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],
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"bubble_reason": "当前价高于基准上沿19.2%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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": "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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}
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},
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_600460_valuation/士兰微价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_600460_valuation/士兰微估值快照_20260813.json",
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},
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{
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"ticker": "600673.SH",
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"company": "东阳光",
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"research_name": "东阳光科",
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"industries": [
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],
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],
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"bubble_reason": "当前价高于基准上沿10.8%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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": "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/20260813_industry_gap_600673_valuation/东阳光估值快照_20260813.json",
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},
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{
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"ticker": "600692.SH",
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"company": "亚通股份",
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"research_name": "亚通股份",
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],
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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160.9%；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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"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": "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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"status": "PASS_WITH_WARNINGS",
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},
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_600692_valuation/亚通股份估值快照_20260813.json",
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},
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{
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"ticker": "600703.SH",
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],
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],
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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；晶圆制造/硅片/化合物半导体的经营风险仍可能令合理区间下修。",
|
"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": "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/20260813_industry_gap_600703_valuation/三安光电价格合理性评估_20260813.md",
|
"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_600703_valuation/三安光电估值快照_20260813.json",
|
"run_status": "REUSED"
|
},
|
{
|
"ticker": "600745.SH",
|
"company": "*ST闻泰",
|
"research_name": "闻泰科技",
|
"industries": [
|
"半导体"
|
],
|
"research_layers": [
|
"OFFICIAL_IDENTITY_INDEXED"
|
],
|
"price": 17.43,
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"price_date": "2026-08-13",
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"normalized_profit": -537351455.14,
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"normalized_pe": null,
|
"pb": 0.8888176886089798,
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"consensus_count": 0,
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"consensus_2026": null,
|
"forward_pe": null,
|
"base_low": 17.64928871358368,
|
"base_high": 29.41548118930613,
|
"optimistic_high": 47.06476990288981,
|
"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；集成电路设计与芯片产品的经营风险仍可能令合理区间下修。",
|
"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": "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": 3
|
},
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"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260813_industry_gap_600745_valuation/ST闻泰价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_600745_valuation/ST闻泰估值快照_20260813.json",
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"run_status": "REUSED"
|
},
|
{
|
"ticker": "600875.SH",
|
"company": "东方电气",
|
"research_name": "东方电气",
|
"industries": [
|
"新能源"
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],
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"research_layers": [
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"INCLUDED_T1"
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],
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"price": 27.04,
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"price_date": "2026-08-13",
|
"normalized_profit": 3313448429.01,
|
"normalized_pe": 28.222579955161805,
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"pb": 1.9946284717091316,
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"consensus_count": 12,
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"consensus_2026": 4687650223.697936,
|
"forward_pe": 19.949027498316582,
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"base_low": 19.030581818188203,
|
"base_high": 43.1847818181963,
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"optimistic_high": 83.87444290911903,
|
"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；风电、核电设备或运营的经营风险仍可能令合理区间下修。",
|
"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",
|
"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/20260813_industry_gap_600875_valuation/东方电气价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_600875_valuation/东方电气估值快照_20260813.json",
|
"run_status": "REUSED"
|
},
|
{
|
"ticker": "600885.SH",
|
"company": "宏发股份",
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"research_name": "宏发股份",
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"industries": [
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"机器人"
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],
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"research_layers": [
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"SUPPLEMENT_REQUIRED"
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],
|
"price": 36.02,
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"price_date": "2026-08-13",
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"normalized_profit": 1818374392.6499999,
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"normalized_pe": 30.656143960002222,
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"pb": 4.219095747681333,
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"consensus_count": 10,
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"consensus_2026": 2228019945.949516,
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"forward_pe": 25.019680481587166,
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"base_low": 25.82762000000598,
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"base_high": 59.458233333347096,
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"optimistic_high": 117.21766000002712,
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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；机器人核心零部件、自动化或关联制造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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},
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"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_600885_valuation/宏发股份价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_600885_valuation/宏发股份估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "600905.SH",
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"company": "三峡能源",
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"research_name": "三峡能源",
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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": 3.77,
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"price_date": "2026-08-13",
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"normalized_profit": 2102128833.2800002,
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"normalized_pe": 51.26966498393701,
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"pb": 1.2012770202079588,
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"consensus_count": 5,
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"consensus_2026": 3887920419.3120003,
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"forward_pe": 27.720588235294116,
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"base_low": 1.90944,
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"base_high": 4.33296,
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"optimistic_high": 8.4155712,
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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；风电、核电设备或运营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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{
|
"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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],
|
"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/20260813_industry_gap_600905_valuation/三峡能源价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_600905_valuation/三峡能源估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "600933.SH",
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"company": "爱柯迪",
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"research_name": "爱柯迪",
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"industries": [
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"机器人"
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],
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"research_layers": [
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"ADJACENT_CANDIDATE"
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],
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"price": 13.79,
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"price_date": "2026-08-13",
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"normalized_profit": 1074271003.3100004,
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"normalized_pe": 13.223413497162724,
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"pb": 1.4298851556878038,
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"consensus_2026": 1378906175.7624156,
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"forward_pe": 10.302027748135636,
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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",
|
"bubble_reason": "当前价未超过基准上沿；机器人核心零部件、自动化或关联制造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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},
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_600933_valuation/爱柯迪价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_600933_valuation/爱柯迪估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "601611.SH",
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"company": "中国核建",
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"research_name": "中国核建",
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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": 11.17,
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"normalized_profit": 1149379628.07,
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"normalized_pe": 29.289302964737903,
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"pb": 1.0013671447864019,
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"forward_pe": 21.689320388349515,
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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",
|
"bubble_reason": "当前价未超过基准上沿；风电、核电设备或运营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",
|
"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/20260813_industry_gap_601611_valuation/中国核建价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_601611_valuation/中国核建估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "601615.SH",
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"company": "明阳智能",
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"research_name": "明阳智能",
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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": 12.12,
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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；风电、核电设备或运营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/20260813_industry_gap_601615_valuation/明阳智能价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_601615_valuation/明阳智能估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "601727.SH",
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"company": "上海电气",
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"research_name": "上海电气",
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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": "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109.3%；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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},
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_601727_valuation/上海电气价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_601727_valuation/上海电气估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "601868.SH",
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"company": "中国能建",
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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_reason": "当前价未超过基准上沿；风电、核电设备或运营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": "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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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_601868_valuation/中国能建价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_601868_valuation/中国能建估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "601908.SH",
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"company": "京运通",
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"research_name": "京运通",
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"industries": [
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],
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"research_layers": [
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],
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"base_low": 2.759563949649441,
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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；光伏材料、设备、组件或电站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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"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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{
|
"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。",
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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/20260813_industry_gap_601908_valuation/京运通估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "601985.SH",
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"company": "中国核电",
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"research_name": "中国核电",
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"industries": [
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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；风电、核电设备或运营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": "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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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_601985_valuation/中国核电价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_601985_valuation/中国核电估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "603005.SH",
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"company": "晶方科技",
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"research_name": "晶方科技",
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"industries": [
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"半导体"
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],
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],
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"price": 33.1,
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"normalized_profit": 334632511.36,
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"label": "偏贵",
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"bubble_primary_cause": "先进封装与行业景气修复预期",
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"bubble_reason": "当前价高于基准上沿0.6%；市场最可能提前交易先进封装与行业景气修复预期，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": "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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},
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{
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],
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],
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"bubble_reason": "当前价未超过基准上沿；机器人核心零部件、自动化或关联制造的经营风险仍可能令合理区间下修。",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_603040_valuation/新坐标估值快照_20260813.json",
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},
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{
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"ticker": "603160.SH",
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"research_name": "汇顶科技",
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],
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"bubble_reason": "当前价未超过基准上沿；集成电路设计与芯片产品的经营风险仍可能令合理区间下修。",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_603160_valuation/汇顶科技估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "603163.SH",
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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；半导体设备、厂务或EDA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/20260813_industry_gap_603163_valuation/圣晖集成估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "603186.SH",
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"company": "华正新材",
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"research_name": "华正新材",
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"industries": [
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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；集成电路设计与芯片产品的经营风险仍可能令合理区间下修。",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_603186_valuation/华正新材估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "603286.SH",
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],
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],
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"label": "明显偏贵",
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"bubble_reason": "当前价高于基准上沿315.2%；市场最可能提前交易机器人、自动化或智能制造成长预期，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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{
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"action": "使用正常化情景、PB 或反向估值。",
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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": "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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"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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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_603286_valuation/日盈电子价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_603286_valuation/日盈电子估值快照_20260813.json",
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},
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{
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"ticker": "603290.SH",
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],
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"label": "基本合理",
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"bubble_reason": "当前价未超过基准上沿；集成电路设计与芯片产品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": "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/20260813_industry_gap_603290_valuation/斯达半导价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_603290_valuation/斯达半导估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "603398.SH",
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"company": "*ST沐邦",
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"research_name": "*ST沐邦",
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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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"INCLUDED_T2"
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],
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"pb": 65.2905550778007,
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"forward_pe": null,
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"base_low": 0.14845945157687435,
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"base_high": 0.23093692467513785,
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"optimistic_high": 0.3629008816323595,
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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4563.6%；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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"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。",
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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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{
|
"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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},
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_603398_valuation/ST沐邦估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "603416.SH",
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"company": "信捷电气",
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"research_name": "信捷电气",
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"industries": [
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"机器人"
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],
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],
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"label": "基本合理",
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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；机器人核心零部件、自动化或关联制造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/20260813_industry_gap_603416_valuation/信捷电气价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_603416_valuation/信捷电气估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "603501.SH",
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"company": "豪威集团",
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"research_name": "韦尔股份/豪威",
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"industries": [
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"半导体"
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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；集成电路设计与芯片产品的经营风险仍可能令合理区间下修。",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_603501_valuation/豪威集团估值快照_20260813.json",
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},
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{
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"ticker": "603507.SH",
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"company": "振江股份",
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"research_name": "振江股份",
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],
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"bubble_status": "未识别估值泡沫",
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"bubble_reason": "当前价未超过基准上沿；风电、核电设备或运营的经营风险仍可能令合理区间下修。",
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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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"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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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_603507_valuation/振江股份价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_603507_valuation/振江股份估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "603595.SH",
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"company": "ST东尼",
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"research_name": "东尼电子",
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"industries": [
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],
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],
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"bubble_reason": "当前价高于基准上沿165.8%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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": "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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],
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_603595_valuation/ST东尼估值快照_20260813.json",
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},
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{
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"ticker": "603690.SH",
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"company": "至纯科技",
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"research_name": "至纯科技",
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"industries": [
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],
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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_reason": "当前价高于基准上沿93.3%；市场最可能提前交易半导体设备国产替代与资本开支预期，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": "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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"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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],
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_603690_valuation/至纯科技估值快照_20260813.json",
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},
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{
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"industries": [
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],
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],
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"label": "基本合理",
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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；半导体设备、厂务或EDA的经营风险仍可能令合理区间下修。",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_603929_valuation/亚翔集成估值快照_20260813.json",
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},
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{
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"ticker": "603931.SH",
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],
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],
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"bubble_reason": "当前价未超过基准上沿；集成电路设计与芯片产品的经营风险仍可能令合理区间下修。",
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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": "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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],
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},
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},
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{
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"company": "气派科技",
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],
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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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"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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},
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{
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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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"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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"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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{
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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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"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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{
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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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"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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"recalc_scope": "扣非 PE 模块",
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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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],
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},
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},
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{
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"ticker": "688249.SH",
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],
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"issues": [
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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/20260813_industry_gap_688249_valuation/晶合集成价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688249_valuation/晶合集成估值快照_20260813.json",
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},
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{
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"ticker": "688256.SH",
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],
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],
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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": "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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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_688261_valuation/东微半导价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688261_valuation/东微半导估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "688286.SH",
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"company": "敏芯股份",
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"research_name": "敏芯股份",
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"industries": [
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"半导体"
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],
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],
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"price": 44.63,
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"price_date": "2026-08-13",
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"normalized_profit": 14789057.030000003,
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"label": "偏贵",
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"bubble_status": "泡沫-中",
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"bubble_primary_cause": "新品、AI算力或国产芯片成长预期",
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"bubble_reason": "当前价高于基准上沿15.1%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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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"status": "PASS",
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},
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688286_valuation/敏芯股份估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "688320.SH",
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"company": "禾川科技",
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"research_name": "禾川科技",
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"industries": [
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"机器人"
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],
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],
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"pb": 4.2947352804152965,
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"base_low": 7.2318776297189205,
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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": "机器人、自动化或智能制造成长预期",
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"bubble_reason": "当前价高于基准上沿186.3%；市场最可能提前交易机器人、自动化或智能制造成长预期，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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{
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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/20260813_industry_gap_688320_valuation/禾川科技估值快照_20260813.json",
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},
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{
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"ticker": "688332.SH",
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"company": "中科蓝讯",
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"research_name": "中科蓝讯",
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"industries": [
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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；集成电路设计与芯片产品的经营风险仍可能令合理区间下修。",
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},
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{
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"ticker": "688378.SH",
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"company": "奥来德",
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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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"message": "最近完整年度简化自由现金流为负。",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688378_valuation/奥来德估值快照_20260813.json",
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},
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{
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"ticker": "688381.SH",
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"company": "帝奥微",
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"bubble_reason": "当前价高于基准上沿1070.8%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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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"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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{
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"ticker": "688383.SH",
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"company": "新益昌",
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"industries": [
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],
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"bubble_reason": "当前价高于基准上沿69.7%；市场最可能提前交易半导体设备国产替代与资本开支预期，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": "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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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_688383_valuation/新益昌价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688383_valuation/新益昌估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "688396.SH",
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"company": "华润微",
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"research_name": "华润微",
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"industries": [
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],
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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35.4%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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/20260813_industry_gap_688396_valuation/华润微价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688396_valuation/华润微估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "688400.SH",
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"company": "凌云光",
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"research_name": "凌云光",
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"industries": [
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"机器人"
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],
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],
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"price": 48.4,
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"normalized_profit": 162377295.73000002,
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"normalized_pe": 142.84479251685588,
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"pb": 4.064704640255949,
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"forward_pe": 61.853035143769965,
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"base_low": 14.03805,
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"optimistic_high": 63.71114999999999,
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"label": "偏贵",
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"bubble_status": "泡沫-中",
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"bubble_primary_cause": "机器人、自动化或智能制造成长预期",
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"bubble_reason": "当前价高于基准上沿49.8%；市场最可能提前交易机器人、自动化或智能制造成长预期，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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"status": "PASS",
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},
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_688400_valuation/凌云光价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688400_valuation/凌云光估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "688432.SH",
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"company": "有研硅",
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"research_name": "有研硅",
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"industries": [
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"半导体"
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],
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},
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{
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"company": "联芸科技",
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],
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688449_valuation/联芸科技估值快照_20260813.json",
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},
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{
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"ticker": "688469.SH",
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"company": "芯联集成",
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"research_name": "芯联集成",
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"industries": [
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],
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],
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"bubble_reason": "当前价高于基准上沿190.7%；市场最可能提前交易半导体国产替代、AI算力或先进制程预期，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。",
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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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}
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],
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},
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{
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"industries": [
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],
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"bubble_reason": "当前价未超过基准上沿；集成电路设计与芯片产品的经营风险仍可能令合理区间下修。",
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"message": "最近完整年度简化自由现金流为负。",
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}
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],
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},
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{
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"ticker": "688508.SH",
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"company": "芯朋微",
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"research_name": "芯朋微",
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"industries": [
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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；集成电路设计与芯片产品的经营风险仍可能令合理区间下修。",
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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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"message": "最近完整年度简化自由现金流为负。",
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"severity": "WARNING"
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],
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},
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{
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"company": "慧智微",
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"bubble_reason": "当前价高于基准上沿189.8%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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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"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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],
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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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"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/20260813_industry_gap_688545_valuation/兴福电子价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688545_valuation/兴福电子估值快照_20260813.json",
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},
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{
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"ticker": "688548.SH",
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"company": "广钢气体",
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"research_name": "广钢气体",
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"industries": [
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],
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],
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"bubble_reason": "当前价高于基准上沿107.7%；市场最可能提前交易半导体材料国产替代与客户认证预期，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": "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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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688548_valuation/广钢气体估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
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"ticker": "688577.SH",
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"company": "浙海德曼",
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"industries": [
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"机器人"
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],
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],
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"bubble_reason": "当前价高于基准上沿130.4%；市场最可能提前交易机器人、自动化或智能制造成长预期，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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"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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{
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],
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},
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{
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"company": "力芯微",
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],
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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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"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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},
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"company": "灿芯股份",
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"research_name": "灿芯股份",
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"industries": [
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],
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"bubble_reason": "当前价高于基准上沿348.6%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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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{
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{
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"field": "institutions",
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"bubble_reason": "当前价未超过基准上沿；机器人核心零部件、自动化或关联制造的经营风险仍可能令合理区间下修。",
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"message": "最近完整年度简化自由现金流为负。",
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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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"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": "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": "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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],
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"status": "PASS_WITH_WARNINGS",
|
"warning_count": 2
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},
|
"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_688699_valuation/明微电子价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688699_valuation/明微电子估值快照_20260813.json",
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"run_status": "REUSED"
|
},
|
{
|
"ticker": "688728.SH",
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"company": "格科微",
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"research_name": "格科微",
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"industries": [
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"半导体"
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],
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"research_layers": [
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"OFFICIAL_IDENTITY_AND_REPORT_MENTION_INDEXED"
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],
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"price": 15.83,
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"price_date": "2026-08-13",
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"normalized_profit": -38582627.0,
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"normalized_pe": null,
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"pb": 4.031078384265659,
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"consensus_count": 2,
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"consensus_2026": 120260400.0,
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"forward_pe": 263.8333333333333,
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"base_low": 1.404,
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"base_high": 3.186,
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"optimistic_high": 6.350759999999999,
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"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
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"bubble_primary_cause": "新品、AI算力或国产芯片成长预期",
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"bubble_reason": "当前价高于基准上沿396.9%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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,
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"issues": [
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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",
|
"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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"status": "PASS_WITH_WARNINGS",
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"warning_count": 2
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},
|
"share_status": "QUOTE_EXACT_HISTORY_DATE_GAP",
|
"formal_path": "ana-data/result/股票估值/20260813_industry_gap_688728_valuation/格科微价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688728_valuation/格科微估值快照_20260813.json",
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"run_status": "REUSED"
|
},
|
{
|
"ticker": "688729.SH",
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"company": "屹唐股份",
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"research_name": "屹唐股份",
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"industries": [
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"半导体"
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],
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"research_layers": [
|
"PRIMARY_EVIDENCE_ENRICHED_WITH_EXPLICIT_GAPS"
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],
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"price": 26.09,
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"price_date": "2026-08-13",
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"normalized_profit": 506233245.28999996,
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"normalized_pe": 152.32219755900576,
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"pb": 8.546814421291897,
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"consensus_count": 6,
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"consensus_2026": 857112400.0,
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"forward_pe": 89.96551724137932,
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"base_low": 6.786,
|
"base_high": 15.399,
|
"optimistic_high": 30.695339999999995,
|
"label": "偏贵",
|
"bubble_status": "泡沫-高",
|
"bubble_primary_cause": "新品、AI算力或国产芯片成长预期",
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"bubble_reason": "当前价高于基准上沿69.4%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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,
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"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
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},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260813_industry_gap_688729_valuation/屹唐股份价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688729_valuation/屹唐股份估值快照_20260813.json",
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"run_status": "REUSED"
|
},
|
{
|
"ticker": "688766.SH",
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"company": "普冉股份",
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"research_name": "普冉股份",
|
"industries": [
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"半导体"
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],
|
"research_layers": [
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"OFFICIAL_IDENTITY_INDEXED"
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],
|
"price": 383.4,
|
"price_date": "2026-08-13",
|
"normalized_profit": 395311433.28,
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"normalized_pe": 143.58812047461154,
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"pb": 21.065564801466987,
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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": 68.08850180421898,
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"base_high": 150.1952245681301,
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"optimistic_high": 299.3891476391393,
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"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
|
"bubble_primary_cause": "新品、AI算力或国产芯片成长预期",
|
"bubble_reason": "当前价高于基准上沿155.3%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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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{
|
"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。",
|
"recalc_scope": "institutions",
|
"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。",
|
"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",
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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
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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/20260813_industry_gap_688766_valuation/普冉股份价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688766_valuation/普冉股份估值快照_20260813.json",
|
"run_status": "REUSED"
|
},
|
{
|
"ticker": "688772.SH",
|
"company": "珠海冠宇",
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"research_name": "珠海冠宇",
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"industries": [
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"机器人"
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],
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"research_layers": [
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"ADJACENT_CANDIDATE"
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],
|
"price": 14.34,
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"price_date": "2026-08-13",
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"normalized_profit": 222456189.67000008,
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"normalized_pe": 72.98310296263017,
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"pb": 2.1378368234410505,
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"consensus_count": 6,
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"consensus_2026": 835930444.7862892,
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"forward_pe": 19.422121896171298,
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"base_low": 13.24569999999402,
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"base_high": 30.493166666652897,
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"optimistic_high": 60.115099999972855,
|
"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；机器人核心零部件、自动化或关联制造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",
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"severity": "WARNING"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
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"warning_count": 1
|
},
|
"share_status": "MATCH_REPORT",
|
"formal_path": "ana-data/result/股票估值/20260813_industry_gap_688772_valuation/珠海冠宇价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688772_valuation/珠海冠宇估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "688785.SH",
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"company": "恒运昌",
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"research_name": "恒运昌",
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"industries": [
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"半导体"
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],
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"research_layers": [
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"OFFICIAL_IDENTITY_AND_REPORT_MENTION_INDEXED"
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],
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"price": 280.43,
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"price_date": "2026-08-13",
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"normalized_profit": 91061802.35000001,
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"normalized_pe": 208.49119911846327,
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"pb": 8.505898364505816,
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"consensus_count": 1,
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"consensus_2026": 116446903.36,
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"forward_pe": 163.0406976744186,
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"base_low": 40.248,
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"base_high": 96.75,
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"optimistic_high": 192.85499999999996,
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"label": "明显偏贵",
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"bubble_status": "泡沫-极端",
|
"bubble_primary_cause": "新品、AI算力或国产芯片成长预期",
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"bubble_reason": "当前价高于基准上沿189.9%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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": [],
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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/20260813_industry_gap_688785_valuation/恒运昌价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688785_valuation/恒运昌估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "688790.SH",
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"company": "昂瑞微",
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"research_name": "昂瑞微",
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"industries": [
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"半导体"
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],
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"research_layers": [
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"OFFICIAL_IDENTITY_INDEXED"
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],
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"price": 98.0,
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"price_date": "2026-08-13",
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"normalized_profit": -178534561.91000003,
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"normalized_pe": null,
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"pb": 3.589289291631818,
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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": 24.573109836989804,
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"base_high": 40.95518306164967,
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"optimistic_high": 65.52829289863948,
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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": "新品、AI算力或国产芯片成长预期",
|
"bubble_reason": "当前价高于基准上沿139.3%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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": 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"
|
},
|
{
|
"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",
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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/20260813_industry_gap_688790_valuation/昂瑞微价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688790_valuation/昂瑞微估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "688795.SH",
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"company": "摩尔线程",
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"research_name": "摩尔线程",
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"industries": [
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"半导体"
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],
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],
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"price": 584.31,
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"pb": 22.55467687246852,
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"consensus_count": 8,
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"consensus_2026": -227180304.88317665,
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"forward_pe": null,
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"base_high": 38.85956801579638,
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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": "新品、AI算力或国产芯片成长预期",
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"bubble_reason": "当前价高于基准上沿1403.6%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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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{
|
"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",
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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"
|
},
|
{
|
"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",
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"warning_count": 3
|
},
|
"share_status": "MATCH_REPORT",
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"formal_path": "ana-data/result/股票估值/20260813_industry_gap_688795_valuation/摩尔线程价格合理性评估_20260813.md",
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"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688795_valuation/摩尔线程估值快照_20260813.json",
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"run_status": "REUSED"
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},
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{
|
"ticker": "688798.SH",
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"company": "艾为电子",
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"research_name": "艾为电子",
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"industries": [
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"半导体"
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],
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"research_layers": [
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],
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"price": 54.38,
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"normalized_profit": 192737008.02,
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"normalized_pe": 65.77634132602324,
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"pb": 2.9410608404834417,
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"consensus_count": 4,
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"consensus_2026": 383885153.9467444,
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"forward_pe": 33.024291497969024,
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"base_low": 38.532000000007805,
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"base_high": 87.43800000001771,
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"optimistic_high": 174.2930800000353,
|
"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；集成电路设计与芯片产品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/20260813_industry_gap_688798_valuation/艾为电子价格合理性评估_20260813.md",
|
"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688798_valuation/艾为电子估值快照_20260813.json",
|
"run_status": "REUSED"
|
},
|
{
|
"ticker": "688802.SH",
|
"company": "沐曦股份",
|
"research_name": "沐曦集成电路",
|
"industries": [
|
"半导体"
|
],
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"research_layers": [
|
"OFFICIAL_IDENTITY_INDEXED"
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],
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"price": 747.0,
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"price_date": "2026-08-13",
|
"normalized_profit": -713882421.1699998,
|
"normalized_pe": null,
|
"pb": 22.817468987316524,
|
"consensus_count": 6,
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"consensus_2026": 84687833.3334667,
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"forward_pe": 3529.133858262159,
|
"base_low": 4.9530000000078,
|
"base_high": 11.2395000000177,
|
"optimistic_high": 22.40407000003528,
|
"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
|
"bubble_primary_cause": "新品、AI算力或国产芯片成长预期",
|
"bubble_reason": "当前价高于基准上沿6546.2%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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"
|
},
|
{
|
"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/20260813_industry_gap_688802_valuation/沐曦股份价格合理性评估_20260813.md",
|
"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688802_valuation/沐曦股份估值快照_20260813.json",
|
"run_status": "REUSED"
|
},
|
{
|
"ticker": "688820.SH",
|
"company": "盛合晶微",
|
"research_name": "盛合晶微",
|
"industries": [
|
"半导体"
|
],
|
"research_layers": [
|
"OFFICIAL_IDENTITY_INDEXED"
|
],
|
"price": 135.37,
|
"price_date": "2026-08-13",
|
"normalized_profit": 918491667.98,
|
"normalized_pe": 161.08451007660278,
|
"pb": 10.230397924146045,
|
"consensus_count": 3,
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"consensus_2026": 677638796.0,
|
"forward_pe": 218.33870967741936,
|
"base_low": 21.42934164407523,
|
"base_high": 46.38822191188049,
|
"optimistic_high": 90.68897383772637,
|
"label": "明显偏贵",
|
"bubble_status": "泡沫-极端",
|
"bubble_primary_cause": "半导体国产替代、AI算力或先进制程预期",
|
"bubble_reason": "当前价高于基准上沿191.8%；市场最可能提前交易半导体国产替代、AI算力或先进制程预期，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": "QUOTE_EXACT_HISTORY_DATE_GAP",
|
"formal_path": "ana-data/result/股票估值/20260813_industry_gap_688820_valuation/盛合晶微价格合理性评估_20260813.md",
|
"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_688820_valuation/盛合晶微估值快照_20260813.json",
|
"run_status": "REUSED"
|
},
|
{
|
"ticker": "920179.BJ",
|
"company": "凯德石英",
|
"research_name": "凯德石英",
|
"industries": [
|
"半导体"
|
],
|
"research_layers": [
|
"PRIMARY_EVIDENCE_ENRICHED_WITH_EXPLICIT_GAPS"
|
],
|
"price": 55.05,
|
"price_date": "2026-08-13",
|
"normalized_profit": 18546685.009999998,
|
"normalized_pe": 222.52486079182086,
|
"pb": 5.45210875703642,
|
"consensus_count": 4,
|
"consensus_2026": 41420925.0,
|
"forward_pe": 99.63800904977376,
|
"base_low": 12.9285,
|
"base_high": 29.33775,
|
"optimistic_high": 58.479915,
|
"label": "偏贵",
|
"bubble_status": "泡沫-高",
|
"bubble_primary_cause": "新品、AI算力或国产芯片成长预期",
|
"bubble_reason": "当前价高于基准上沿87.6%；市场最可能提前交易新品、AI算力或国产芯片成长预期，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/20260813_industry_gap_920179_valuation/凯德石英价格合理性评估_20260813.md",
|
"snapshot_path": "ana-data/result/股票估值/20260813_industry_gap_920179_valuation/凯德石英估值快照_20260813.json",
|
"run_status": "REUSED"
|
}
|
]
|
}
|
