/stock-research

description: 对指定股票执行完整的投资尽调研究，从问题细化到最终报告生成。执行8阶段投资研究流程：公司事实底座、行业周期分析、业务拆解、财务质量、股权治理、市场分歧、估值护城河、综合报告。
argument-hint: [股票代码或公司名称，例如：600519, AAPL, 茅台]
allowed-tools: Task, WebSearch, WebFetch, mcp__web_reader__webReader, Read, Write, TodoWrite, Skill

Stock Research

Execute comprehensive investment due diligence on the given stock using the 8-phase research framework.

Stock Ticker / Company Name

$ARGUMENTS

**Examples**:

• `600519` or `贵州茅台` (Kweichow Moutai, A-share)
• `AAPL` or `Apple` (Apple Inc., US)
• `00700.HK` or `腾讯` (Tencent, Hong Kong)
• `TSLA` or `Tesla` (Tesla Inc., US)

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Research Workflow

This command will execute the following steps:

Step 1: Question Refinement (问题细化)

Use the **stock-question-refiner** skill to gather context and clarify research needs.

**The skill will ask about**: 1. **Basic Information**: Stock ticker, company name, market (A-share/HK/US) 2. **Investment Style**: Value investing, growth investing, turnaround, or dividend investing 3. **Holding Period**: Short-term (<6 months), medium-term (6-18 months), or long-term (1-3+ years) 4. **Research Priorities**: Business quality, financials, valuation, governance, etc. (select 2-3) 5. **Research Depth**: Quick scan, standard due diligence, or deep analysis 6. **Specific Concerns**: Any particular worries or red flags to investigate

**Wait for user responses** before proceeding to Step 2.

Step 2: Research Execution Plan (研究计划)

Create a detailed execution plan based on user's preferences:

• Prioritize phases based on user's focus areas
• Design multi-agent deployment strategy (~28 agents total)
• Define output structure and file organization
• Present plan to user for confirmation

Step 3: Multi-Agent Research (多智能体研究)

Deploy multiple **parallel research agents** (using Task tool) for each phase:

**Phase 1**: Business Foundation (4 agents)

• Products and business model
• Revenue and profit composition
• Customers and value chain
• Recent strategic changes

**Phase 2**: Industry Analysis (4 agents)

• Industry cycle stage
• Supply-demand dynamics
• Competitive landscape
• Policy and external variables

**Phase 3**: Business Breakdown (4 agents)

• Business segment deep dive
• Profit engine and economics
• Customer and pricing analysis
• Subsidiaries and non-core items

**Phase 4**: Financial Quality (4 agents)

• Key metrics and trend analysis
• Cash flow quality
• Anomaly screening (red flags)
• Peer comparison

**Phase 5**: Governance Analysis (4 agents)

• Ownership structure
• Management quality and incentives
• Capital allocation track record
• Shareholder returns and overhang

**Phase 6**: Market Sentiment (4 agents)

• Bull case research
• Bear case research
• Key debate points
• Verification nodes

**Phase 7**: Valuation & Moat (4 agents)

• Competitive moat assessment
• Relative valuation
• Absolute valuation (DCF, reverse DCF)
• Risk scenarios

**Critical Rule**: Always launch agents in **parallel** (single message with multiple Task tool calls), not sequentially.

Step 4: Quality Assurance (质量保证)

**Mandatory Cross-Validation**:

• Profit vs. cash flow (OCF/NI ratio analysis)
• Company vs. peer comparison
• Bear case analysis (identify 3-5 key risks)

**Citation Verification**:

• Use **citation-validator** skill to verify all claims have citations
• Ensure source quality ratings (A-E scale)
• Check for missing or problematic citations

Step 5: Final Synthesis (综合报告)

Generate comprehensive investment due diligence report in the directory:

RESEARCH/STOCK_[ticker]_[company_name]/
├── README.md                          # Navigation and overview
├── 00_Executive_Summary.md            # Signal rating + thesis
├── 01_Business_Foundation.md          # Phase 1
├── 02_Industry_Analysis.md            # Phase 2
├── 03_Business_Breakdown.md           # Phase 3
├── 04_Financial_Quality.md            # Phase 4
├── 05_Governance_Analysis.md          # Phase 5
├── 06_Market_Sentiment.md             # Phase 6
├── 07_Valuation_Moat.md               # Phase 7
├── Financial_Data/
│   ├── key_metrics_table.md
│   ├── cashflow_analysis.md
│   └── peer_comparison.md
├── Valuation/
│   ├── historical_multiples.md
│   ├── dcf_analysis.md
│   └── reverse_dcf_implied_growth.md
├── Risk_Monitoring/
│   ├── bear_case.md
│   ├── black_swans.md
│   └── monitoring_checklist.md
└── sources/
    ├── bibliography.md
    └── data_sources.md

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Output Format

Executive Summary Includes:

**Signal Light Rating**:

• 🟢🟢🟢 **Strong Buy** - Significant margin of safety, strong moat, attractive valuation
• 🟡🟡🟡 **Hold** - Fairly valued or limited margin of safety
• 🔴🔴 **Avoid** - Overvalued, deteriorating fundamentals, or excessive risks

**Plus**:

• Investment thesis (one-liner + detailed explanation)
• Key metrics summary table
• Top 3 reasons to consider
• Top 3 reasons to avoid
• Financial health score
• Valuation assessment (relative + absolute)
• Moat rating (0-5 scale)
• Monitoring checklist (strengthen/exit conditions)

Each Phase Report Includes:

• Executive summary (2-3 paragraphs)
• Detailed findings with subsections
• Key data tables
• Source quality assessment (A-E ratings)
• Contradictions and gaps
• Key takeaways (3-5 bullet points)

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Citation Requirements

**Every factual claim must include**: 1. Author/Organization name 2. Publication date (at least year) 3. Source title 4. Direct URL/DOI 5. Page numbers (if applicable)

**Source Quality Rating** (A-E scale):

• **A**: Annual reports, regulatory filings, peer-reviewed research
• **B**: Industry reports, reputable analyst research, company presentations
• **C**: News articles, expert commentary
• **D**: Preprints, preliminary research, blogs
• **E**: Social media, forums (verify with primary sources)

**Citation Format Example**:

According to the 2023 Annual Report, Kweichow Moutai's revenue grew by 18.2% to
¥127.5 billion, driven by a 16.7% increase in sales volume of Moutai products
[Kwei