china-portfolio-monitoring
Purpose
Monitor A股及中国市场投资组合公司表现 — financial performance, operational KPIs, strategic milestones, and risk indicators.
Data Sources
Primary: iFind MCP (Tier-1 付费) / AkShare MCP (Tier-2 免费备选)
get_quote(ticker) → Stock performance
get_historical_data(ticker) → Price trend
get_financials(ticker, "income") → Revenue, profit
get_financials(ticker, "balance") → Balance sheet health
get_financials(ticker, "cashflow") → Cash generation
get_stock_info(ticker) → Company updates
Secondary Sources
- 巨潮公告 — material announcements
- 业绩说明会 — management updates
- Wind / Choice — ownership, institutional data
- 券商研报 — analyst updates
Workflow
Step 1: Define KPIs by Company
Financial KPIs (standard):
| KPI |
Frequency |
Target / Benchmark |
| Revenue growth (YoY) |
Quarterly |
>XX% |
| Gross margin |
Quarterly |
>XX% |
| Net margin |
Quarterly |
>XX% |
| EBITDA |
Quarterly |
Growing |
| Net debt/EBITDA |
Quarterly |
<Xx |
| FCF |
Quarterly |
Positive |
| ROE |
Quarterly / Annual |
>XX% |
Operational KPIs (company-specific):
| Sector |
Key KPIs |
| 白酒 |
批价, 动销, 渠道库存, 回款 |
| 半导体 |
产能利用率, 出货量, 良率 |
| 新能源 |
装机量, 产能利用率, 技术参数 |
| 医药 |
研发进度, 临床数据, 集采中标 |
| 消费 |
门店数量, 同店增速, 库存周转 |
| SaaS/科技 |
ARR, 客户数, NRR, churn |
Step 2: Financial Monitoring
Quarterly review template:
【投后监控】[Company] [Q20XX] 回顾
一、财务表现
营业收入: [XX亿] (YoY: [X%]) [vs plan: +/-X%]
毛利率: [XX%] (vs plan: +/-X bps)
净利润: [XX亿] (YoY: [X%]) [vs plan: +/-X%]
EBITDA: [XX亿] (Margin: [XX%])
经营现金流: [XX亿]
资本支出: [XX亿]
自由现金流: [XX亿]
二、资产负债表
现金余额: [XX亿]
有息负债: [XX亿]
净债务: [XX亿]
净资产: [XX亿]
商誉: [XX亿] (% of equity: [XX%])
三、估值跟踪
Current price: [¥XX.XX]
Market cap: [XX亿]
PE (TTM): [Xx]
vs Entry valuation: [Premium/Discount X%]
vs Sector median: [Premium/Discount X%]
四、关键运营指标
[Sector-specific KPIs with trends]
五、重大事项
[Announcements, management changes, M&A, etc.]
六、风险预警
[Risk flags, concerns]
七、下一步
[Actions, meetings, reviews]
Step 3: Strategic Milestones
Milestone tracking:
| Milestone |
Target Date |
Status |
Notes |
| e.g., New product launch |
Q2 2025 |
On track |
|
| e.g., Capacity expansion |
Q3 2025 |
Delayed |
1 quarter |
| e.g., Management hire |
Q1 2025 |
Complete |
|
| e.g., IPO filing |
Q4 2025 |
In progress |
|
Step 4: Value Creation Tracking
Value creation levers:
| Lever |
Status |
Impact |
| Revenue growth acceleration |
|
|
| Margin expansion |
|
|
| M&A consolidation |
|
|
| International expansion |
|
|
| Digital transformation |
|
|
| Management upgrade |
|
|
Step 5: Risk Monitoring
Red flag indicators:
| Risk |
Indicator |
Threshold |
Action |
| 经营现金流 |
Operating CF |
Consecutive quarters negative |
Escalate |
| 毛利率 |
Gross margin |
Decline >500 bps |
Review |
| 有息负债 |
Net debt/EBITDA |
>4.0x |
Review |
| 应收账款 |
AR days |
>120 days |
Review |
| 存货 |
Inventory days |
>90 days |
Review |
| 股价 |
Share price |
-30% from entry |
Review |
| 解禁 |
Lock-up expiry |
<3 months |
Monitor |
| 质押 |
Pledge ratio |
>50% |
Flag |
Step 6: Reporting
Monthly / Quarterly report structure:
【投后月度/季度报告】[Company]
一、期间概要
[Executive summary of period]
二、财务更新
[Financial KPI table with trends]
三、运营更新
[Operational KPIs, milestones]
四、估值更新
[Current valuation, mark-to-market]
五、风险与问题
[Risk flags, mitigation status]
六、下一步行动
[Board meeting, management call, DD items]
China-Specific Monitoring Considerations
Market Context
| Factor |
Monitoring Implication |
| 涨跌停 |
Price movement constraints |
| 北向资金 |
Foreign flow trends |
| 龙虎榜 |
Unusual trading activity |
| 政策变化 |
Regulatory impact on business |
| 行业景气 |
Sector cyclical position |
Common Issues in A-share Portfolio Companies
| Issue |
Warning Signs |
Response |
| 商誉减值 |
Goodwill >30% of equity |
Impairment testing |
| 应收账款积压 |
AR growth > revenue growth |
Collections push |
| 存货积压 |
Inventory days rising |
Discounting, write-downs |
| 经营现金流差 |
CF < Net income repeatedly |
Working capital review |
| 大股东质押 |
Pledge ratio rising |
Engagement, covenant |
| 关联交易 |
Related party revenue high |
Monitor for leakage |
| 退市风险 |
*ST designation, losses |
Exit planning |
Value Creation Levers (China-specific)
| Lever |
Description |
Typical Impact |
| 精益管理 |
Operational efficiency |
10-20% margin improvement |
| 渠道优化 |
Distribution optimization |
15-30% revenue uplift |
| 数字化转型 |
Digital transformation |
20-40% efficiency gain |
| 并购整合 |
Add-on acquisitions |
20-50% value creation |
| 国际化 |
Overseas expansion |
New growth vectors |
| 股权激励 |
ESOP implementation |
Management alignment |
| 品牌建设 |
Brand investment |
Pricing power |
Quality Checks
Before delivering report:
1---2name: china-portfolio-monitoring3description: Track and report on A-share portfolio company performance for China-focused private equity funds. Monitors KPIs, financials, and strategic milestones. Adapted from the original portfolio-monitoring skill for Chinese portfolio companies. Triggers on "A股投后管理", "基金投后监控", "portfolio monitoring China", "monitor portfolio company", "投后报告", or "portfolio company review".4---56# china-portfolio-monitoring78## Purpose910Monitor **A股及中国市场投资组合公司表现** — financial performance, operational KPIs, strategic milestones, and risk indicators.1112## Data Sources1314### Primary: iFind MCP (Tier-1 付费) / AkShare MCP (Tier-2 免费备选)1516```python17get_quote(ticker) → Stock performance18get_historical_data(ticker) → Price trend19get_financials(ticker, "income") → Revenue, profit20get_financials(ticker, "balance") → Balance sheet health21get_financials(ticker, "cashflow") → Cash generation22get_stock_info(ticker) → Company updates23```2425### Secondary Sources26- 巨潮公告 — material announcements27- 业绩说明会 — management updates28- Wind / Choice — ownership, institutional data29- 券商研报 — analyst updates3031## Workflow3233### Step 1: Define KPIs by Company3435**Financial KPIs (standard):**3637| KPI | Frequency | Target / Benchmark |38|-----|-----------|-------------------|39| Revenue growth (YoY) | Quarterly | >XX% |40| Gross margin | Quarterly | >XX% |41| Net margin | Quarterly | >XX% |42| EBITDA | Quarterly | Growing |43| Net debt/EBITDA | Quarterly | <Xx |44| FCF | Quarterly | Positive |45| ROE | Quarterly / Annual | >XX% |4647**Operational KPIs (company-specific):**4849| Sector | Key KPIs |50|--------|---------|51| 白酒 | 批价, 动销, 渠道库存, 回款 |52| 半导体 | 产能利用率, 出货量, 良率 |53| 新能源 | 装机量, 产能利用率, 技术参数 |54| 医药 | 研发进度, 临床数据, 集采中标 |55| 消费 | 门店数量, 同店增速, 库存周转 |56| SaaS/科技 | ARR, 客户数, NRR, churn |5758### Step 2: Financial Monitoring5960**Quarterly review template:**6162```63【投后监控】[Company] [Q20XX] 回顾6465一、财务表现66 营业收入: [XX亿] (YoY: [X%]) [vs plan: +/-X%]67 毛利率: [XX%] (vs plan: +/-X bps)68 净利润: [XX亿] (YoY: [X%]) [vs plan: +/-X%]69 EBITDA: [XX亿] (Margin: [XX%])70 经营现金流: [XX亿]71 资本支出: [XX亿]72 自由现金流: [XX亿]7374二、资产负债表75 现金余额: [XX亿]76 有息负债: [XX亿]77 净债务: [XX亿]78 净资产: [XX亿]79 商誉: [XX亿] (% of equity: [XX%])8081三、估值跟踪82 Current price: [¥XX.XX]83 Market cap: [XX亿]84 PE (TTM): [Xx]85 vs Entry valuation: [Premium/Discount X%]86 vs Sector median: [Premium/Discount X%]8788四、关键运营指标89 [Sector-specific KPIs with trends]9091五、重大事项92 [Announcements, management changes, M&A, etc.]9394六、风险预警95 [Risk flags, concerns]9697七、下一步98 [Actions, meetings, reviews]99```100101### Step 3: Strategic Milestones102103**Milestone tracking:**104105| Milestone | Target Date | Status | Notes |106|-----------|-------------|--------|-------|107| e.g., New product launch | Q2 2025 | On track | |108| e.g., Capacity expansion | Q3 2025 | Delayed | 1 quarter |109| e.g., Management hire | Q1 2025 | Complete | |110| e.g., IPO filing | Q4 2025 | In progress | |111112### Step 4: Value Creation Tracking113114**Value creation levers:**115116| Lever | Status | Impact |117|-------|--------|--------|118| Revenue growth acceleration | | |119| Margin expansion | | |120| M&A consolidation | | |121| International expansion | | |122| Digital transformation | | |123| Management upgrade | | |124125### Step 5: Risk Monitoring126127**Red flag indicators:**128129| Risk | Indicator | Threshold | Action |130|------|-----------|-----------|--------|131| 经营现金流 | Operating CF | Consecutive quarters negative | Escalate |132| 毛利率 | Gross margin | Decline >500 bps | Review |133| 有息负债 | Net debt/EBITDA | >4.0x | Review |134| 应收账款 | AR days | >120 days | Review |135| 存货 | Inventory days | >90 days | Review |136| 股价 | Share price | -30% from entry | Review |137| 解禁 | Lock-up expiry | <3 months | Monitor |138| 质押 | Pledge ratio | >50% | Flag |139140### Step 6: Reporting141142**Monthly / Quarterly report structure:**143144```145【投后月度/季度报告】[Company]146147一、期间概要148 [Executive summary of period]149150二、财务更新151 [Financial KPI table with trends]152153三、运营更新154 [Operational KPIs, milestones]155156四、估值更新157 [Current valuation, mark-to-market]158159五、风险与问题160 [Risk flags, mitigation status]161162六、下一步行动163 [Board meeting, management call, DD items]164```165166## China-Specific Monitoring Considerations167168### Market Context169170| Factor | Monitoring Implication |171|--------|----------------------|172| 涨跌停 | Price movement constraints |173| 北向资金 | Foreign flow trends |174| 龙虎榜 | Unusual trading activity |175| 政策变化 | Regulatory impact on business |176| 行业景气 | Sector cyclical position |177178### Common Issues in A-share Portfolio Companies179180| Issue | Warning Signs | Response |181|-------|--------------|----------|182| 商誉减值 | Goodwill >30% of equity | Impairment testing |183| 应收账款积压 | AR growth > revenue growth | Collections push |184| 存货积压 | Inventory days rising | Discounting, write-downs |185| 经营现金流差 | CF < Net income repeatedly | Working capital review |186| 大股东质押 | Pledge ratio rising | Engagement, covenant |187| 关联交易 | Related party revenue high | Monitor for leakage |188| 退市风险 | *ST designation, losses | Exit planning |189190### Value Creation Levers (China-specific)191192| Lever | Description | Typical Impact |193|-------|-------------|----------------|194| 精益管理 | Operational efficiency | 10-20% margin improvement |195| 渠道优化 | Distribution optimization | 15-30% revenue uplift |196| 数字化转型 | Digital transformation | 20-40% efficiency gain |197| 并购整合 | Add-on acquisitions | 20-50% value creation |198| 国际化 | Overseas expansion | New growth vectors |199| 股权激励 | ESOP implementation | Management alignment |200| 品牌建设 | Brand investment | Pricing power |201202## Quality Checks203204Before delivering report:205- [ ] All financial data sourced and current206- [ ] KPIs tracked against targets207- [ ] Milestones updated208- [ ] Valuation current209- [ ] Risk flags addressed210- [ ] Action items clear211> **Data Source Mode Switch**: Set env var `IFIND_DATA_SOURCE_MODE` to control data source preference.212> - `ifind-only` (strict): Use iFind only, error if unavailable213> - `ifind-fallback` (default): iFind preferred, fallback to AkShare214> - `akshare-only`: Skip iFind, use AkShare only
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