000915 None · AI 价值研究

研究日:2026-09-15 · 结论:error · 版本:value-research-v2

TimeoutExpired:Command '['claude', '-p', '--safe-mode', '--tools', '', '--strict-mcp-config', '--mcp-config', '{"mcpServers":{}}', '--no-session-persistence', '--output-format', 'json', '--json-schema', '{"type": "object", "properties": {"action": {"type": "string", "enum": ["investigate", "watch", "pass", "insufficient"]}, "thesis": {"type": "string"}, "variant": {"type": "object", "properties": {"market_view": {"type": "string"}, "market_view_basis": {"type": "string"}, "our_view": {"type": "string"}, "why_market_may_be_wrong": {"type": "string"}, "recognition_path": {"type": "string"}, "evidence_ids": {"t

本报告是模型判断与前向观察起点,不是成交指令。情景收益不代表已获得的超额收益。

一手来源

- 2025年年度报告 · 公告日 2026-04-24 · SHA256 55cb1fe4c47d5e936a6c2dc3773206c4a3557bd359c1e56bf63172a108153808

- 2026年半年度报告 · 公告日 2026-08-21 · SHA256 4039089cbe7b69bce5db0692409f2e4496f57524d50f3aa177498994cf0d708a

- 2026年一季度报告 · 公告日 2026-04-24 · SHA256 e3bec50383ffffe49b710d18fb4e47cf0f6fa8ed0c88a83eb69b6862e340e3de

运行假设

{

  "benchmark": "H00300",

  "benchmark_assumed_return": 0.08,

  "cli": "claude",

  "effort": "medium",

  "enabled": true,

  "horizon_years": 3,

  "market": "CN",

  "max_budget_usd_per_call": 2.0,

  "max_chars_per_page": 3500,

  "max_daily_budget_usd": 24.0,

  "max_documents": 3,

  "max_financial_age_days": 550,

  "max_new_symbols_per_day": 6,

  "max_pages_per_document": 10,

  "max_price_age_days": 7,

  "max_retries_per_day": 2,

  "max_share_age_days": 90,

  "maximum_bear_loss": 0.35,

  "min_cost_samples": 5,

  "min_reserve_usd": 1.0,

  "minimum_expected_excess": 0.03,

  "minimum_margin": 0.2,

  "require_value_case": true,

  "required_return": 0.12,

  "review_after_days": 30,

  "round_trip_cost_bps": 30.0,

  "timeout_seconds": 600

}

前向收益与经营验收

完整参数、原始判断与披露摘录

展开可核对三情景输入、逐年现金流、引用纠正及全部取证页。来源 PDF 可从报告链接打开。