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

| Source | Use | |--------|-----| | 东方财富行业板块 | Industry classification, sector indices | | 巨潮资讯 | Company filings for competitive analysis | | 国家统计局 / 海关总署 | Macro data (industry output, trade) | | 行业协会 (中汽协, 硅业分会, etc.) | Sector-specific statistics | | Wind / Choice / 同花顺 | Comprehensive sector data | | 券商研报 | Analyst consensus and frameworks |

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:

| Metric | Data | Source | |--------|------|--------| | Total market size | 市场规模 (亿元/亿元) | 国家统计局, 行业协会 | | Growth rate | 同比增速 / CAGR | Historical data | | Market share | CR5, CR10 concentration | Company filings | | Penetration rate | For new industries | Industry reports | | Export/import | 进出口数据 | 海关总署 |

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:

| Company | Ticker | Market Cap (亿) | Revenue (亿) | YoY Growth | Gross Margin | Net Margin | PE (TTM) | Market Share | |---------|--------|----------------|-------------|------------|-------------|------------|----------|-------------| | | | | | | | | | |

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:

| Metric | Current | 1Y High | 1Y Low | 5Y Average | Historical High | Historical Low | |--------|---------|---------|--------|------------|----------------|----------------| | Average PE | | | | | | | | Average PB | | | | | | | | Average PS | | | | | | | | EV/EBITDA | | | | | | |

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:

| Policy Area | Current Status | Impact | |-------------|---------------|--------| | 产业政策 | 支持/限制/中性 | Direct sector impact | | 环保政策 | 双碳目标 | Cost structure impact | | 监管政策 | 集采/反垄断 | Margin / market share impact | | 补贴政策 | 新能源/半导体补贴 | Competitiveness impact | | 货币政策 | 宽松/中性/紧缩 | Financing cost impact |

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):

| Idea | Ticker | Direction | Thesis | Catalyst | Risk | |------|--------|-----------|--------|----------|------| | | | Long / Short | | | |

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

| Feature | Description | Implication | |---------|-------------|-------------| | 涨跌停限制 | ±10% (main), ±20% (创业板/科创板) | Price discovery slower | | 散户占比高 | Retail ~60-80% of turnover | More sentiment-driven | | 政策驱动 | Government announcements move markets | Monitor policy closely | | 板块轮动 | Sector rotation common | Timing important | | 北向资金 | Foreign inflows tracked daily | Sentiment indicator |

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

| Sector | Key Metrics | |--------|-------------| | 白酒 | 批价, 库存, 回款, 动销, 渠道库存 | | 半导体 | 产能利用率, 出货量, ASP, 库存天数 | | 新能源汽车 | 交付量, 单车收入, 电池成本, 渗透率 | | 医药 | 创新药收入, 研发费用率, 集采中标 | | 银行 | NIM, 不良率, 拨备覆盖率, ROE | | 券商 | 经纪/投行/资管收入, 股基交易量, 两融余额 | | 光伏 | 硅料/组件价格, 排产, 海外出货 | | 房地产 | 销售额, 拿地, 融资成本, 去化周期 | | 食品饮料 | 动销, 库存, 提价能力 | | 互联网 | DAU/MAU, ARPU, 收入增速, 利润率 |

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

Source & license

This open-source skill is cataloged on AgentStack and links to its original source — we do not rehost the code.

• Author: jwangkun
• Source: jwangkun/claude-for-financial-services-cn
• License: Apache-2.0

Install and usage instructions live in the source repository linked above.