china-sector-overview

china-sector-overview

Purpose

Create comprehensive A股行业/板块深度报告 covering market dynamics, competitive positioning, regulatory environment, key players, trading multiples, and thematic trends.

Data Sources

Primary: iFind MCP (Tier-1 付费) / AkShare MCP (Tier-2 免费备选)

get_industry_stocks(industry="白酒")     → 板块成分股
get_quote(ticker)                        → 个股行情、估值
get_financials(ticker, "income")         → 财务数据对比
get_index_data("000001")                 → 大盘基准
# News (china-news MCP — separate server)
get_stock_news(ticker="{{TICKER}}")          → 行业新闻
get_market_overview()                    → 涨幅榜/成交额榜

Secondary Sources

Workflow

Step 1: Define Scope & Angle

Clarify:

• Sector / industry focus (e.g., 白酒, 半导体, 新能源汽车)
• Angle (e.g., investment theme, competitive analysis, turnaround story)
• Geographic scope (A-share only, or include HK-listed / US-listed Chinese)
• Time horizon (cyclical analysis, secular trends, near-term trade)

Step 2: Market Size & Structure

Industry overview:

A-share representation:

• Number of listed companies in sector
• Total market cap (总市值 / 流通市值)
• Average PE / PB multiples
• Liquidity (average daily turnover)

Step 3: Competitive Landscape

Peer mapping:

# Get all stocks in an industry
get_industry_stocks(industry="白酒")

For each major player, pull:

get_quote(ticker)           → Price, market cap, multiples
get_financials(ticker)      → Revenue, margins, growth
get_stock_info(ticker)      → Business description

Competitive analysis table:

Competitive positioning:

• Market share trends (gaining or losing)
• Product positioning (premium, mid-tier, mass market)
• Geographic footprint (national vs regional)
• Distribution strength (渠道能力)
• Brand equity (品牌力)

Step 4: Trading Multiples & Valuation

Sector multiples:

Multiple dispersion:

• Premium names (high multiple vs sector)
• Value names (low multiple vs sector)
• Historical range and where we are in cycle

Step 5: Policy Environment

China-specific policy analysis:

Key regulatory bodies:

• 发改委 (NDRC) — industrial policy, pricing
• 工信部 (MIIT) — manufacturing, tech, telecom
• 生态环境部 (MEE) — environmental compliance
• 卫健委 (NHC) — healthcare, pharmaceuticals
• 证监会 (CSRC) — capital markets
• 央行 (PBoC) — monetary policy

Step 6: Key Drivers & Trends

Secular trends (3-5 year):

• Technology adoption (技术替代)
• Consumption upgrade/downgrade (消费升级/降级)
• Demographic shifts (人口结构)
• Supply chain localization (供应链国产化)
• Environmental transition (双碳/ESG)

Cyclical factors:

• Inventory cycles (库存周期)
• Capacity utilization (产能利用率)
• Pricing trends (价格趋势)
• Demand momentum (需求 momentum)

Step 7: Investment Themes

Thematic angles:

1. Policy-driven: 国产替代, 新基建, 乡村振兴
2. Demand-driven: 消费升级, 老龄化, 出海
3. Supply-driven: 产能出清, 行业整合, 龙头集中
4. Technology-driven: AI应用, 新能源, 生物医药创新

For each theme:

• Investment thesis
• Key names to express the theme
• Timeline and catalysts
• Risks and headwinds

Step 8: Trading Ideas

Ideas shortlist (from sector overview):

Step 9: Report Structure

Standard A-share sector overview format:

【XX证券】[行业] 深度报告：[标题]

一、行业概述
   市场规模、增速、发展阶段

二、竞争格局
   主要玩家、市场份额、竞争要素

三、政策环境
   监管框架、产业政策、影响分析

四、财务分析
   行业盈利能力、ROE、杠杆水平

五、估值分析
   当前 multiples vs 历史 vs 国际对标

六、核心驱动因素
   长期趋势、短期催化、周期位置

七、投资建议
   重点标的、目标价、评级

八、风险提示
   政策风险、需求风险、竞争风险

China-Specific Considerations

A-share Market Structure

Industry Classification

Common sector classifications:

• 申万行业分类 (SW Industry) — most widely used
• 中信行业分类 (CITIC) — alternative
• 证监会行业分类 — regulatory standard
• 东方财富行业 — data vendor specific

Use get_industry_stocks(industry="...") with Chinese industry names.

Sector-Specific Metrics

Policy Risk Framework

High policy-sensitivity sectors:

1. 医药 — 集采 (volume-based procurement)
2. 互联网 — 反垄断, 数据安全
3. 教育 — 双减 (reduced private tutoring)
4. 金融 — 监管周期, 利率政策
5. 房地产 — 三道红线, 限购限贷
6. 新能源 — 补贴退坡, 产能过剩

Policy risk assessment:

• Current policy stance (支持/中性/限制)
• Upcoming regulatory events
• Historical policy impact patterns
• Best/worst case scenarios

Quality Checks

Before delivering:

• Industry definition clear and consistent
• Market size data sourced (统计局 or industry association)
• Competitive landscape covers top 5-10 players
• Financials sourced from iFind / AkShare / 巨潮
• Valuation multiples calculated consistently
• Policy environment analyzed
• Investment themes articulated
• Ideas shortlist included (3-5 names)
• Risk factors specific to China market included

Data Source Mode Switch: Set env var IFIND_DATA_SOURCE_MODE to control data source preference.

• ifind-only (strict): Use iFind only, error if unavailable
• ifind-fallback (default): iFind preferred, fallback to AkShare
• akshare-only: Skip iFind, use AkShare only