model-update

SKILL.md 节选

# model-update

## Purpose

Update existing **financial models for global equities**（全球股票市场：美股 / 港股 / A 股为主，兼顾其他市场）with new data, ensuring all cells are traceable to sources and all changes are documented.

## Data Sources

> **代码格式 / Symbol format**：valuz-stock 用裸代码（`AAPL` / `00700` / `600519`）；valuz-search 用 `market:ticker`（`US:AAPL` / `HK:00700` / `SH:600519`）。

### Primary: valuz-stock (实际/历史财务、LTM、指标数值)

落最新实际三表、刷新 LTM、刷新价格/市值（裸代码）：

```
income_statement(symbol, period="quarterly", limit=N)   → Q[X] 实际利润表 / actual income statement
balance_sheet(symbol, period="quarterly", limit=N)      → BS update
cashflow_statement(symbol, period="quarterly", limit=N) → CF update
income_statement(symbol, period="annual", limit=N)      → 全年更新 / full-year update
revenue_breakdown(symbol)                               → 收入拆分 / revenue mix
stock_quote(symbol)                                     → 当前价格、市值 / current price & market data
company_overview(symbol)                                → 公司基本信息变化 / company changes
```

> `period` 取 `quarterly` 或 `annual`；`limit` 拉取多期以便对齐历史列与 LTM 计算。

### Secondary: valuz-search (财报/公告原文)

落数后用财报原文逐项核对（`market:ticker`）：

```
earnings_search(query, symbols=["US:AAPL"])  → 定位业绩/财报文档 / locate earnings docs
filings_search(query, symbols=["SH:600519"]) → 官方公告、监管披露 / official filings
document_raw_content(...)                    → 取原文核对精确数字 / exact figures from source
document_summary(...)                        → 管理层评论、业绩说明会要点 / management commentary, call highlights
reports_search(query, symbols=[...])         → 卖方研究、一致预期更新 / sell-side & consensus updates
```

- **earnings_search + document_raw_content** — official filings for exact figures (financial reports, regulatory disclosures)
- **业绩说明会 / earnings call transcript** — management commentary（`conferences_search` / `document_summary`）
- **管理层指引 / guidance** — guidance from earnings calls
- **Research & consensus** — sell-side estimate updates（`reports_search`）

## Workflow

### Step 1: Identify What Changed

**Change triggers:**
- Quarterly earnings release (季报/年报 / quarterly / annual report)
- Management guidance update (管理层指引调整)
- Macro assumption change (rate, tax, policy)
- Model error or refinement
- M&A or restructuring event

**Change log template:**

| Date | Change Type | Item | Old Value | New Value | Reason |
|------|-------------|------|-----------|-----------|--------|
| | Earnings update | Revenue FY25E | XX | XX | Q1 actuals beat |
| | Guidance | Tax rate | 25% | 25% | No change |
| | Macro | CapEx % | 5% | 6% | New plant announced |

### Step 2: Update Historical Actuals

**Quarterly actuals:**

用 `income_statement`/`balance_sheet`/`cashflow_statement`(valuz-stock, period="quarterly", limit=N) 落最新实际数并刷新 LTM；用 `earnings_search`+`document_raw_content`(valuz-search) 取财报原文逐项核对。

```
[Company] Q[X] 20XX Actuals (from income_statement / balance_sheet / cashflow_statement，原文核对 earnings_search+document_raw_content):
- Revenue 营业收入: XXX (YoY: +XX%)   # 按当地准则口径
- Gross margin 毛利率: XX% (vs prior: XX%)
- Net income 归母净利润: XXX (YoY: +XX%)
- EPS: X.XX
- Operating cash flow 经营现金流: XXX
```

> Amounts are reported in the issuer's local convention（按当地常用单位）and revenue is stated under local accounting conventions（按当地准则口径）.

**Update sequence:**
1. Drop Q[X] actuals into historical columns
2. Verify sum checks (quarterly sum = annual)
3. Update LTM (Last Twelve Months) calculations
4. Check annual-to-quarter relationships

### Step 3: Roll Forward Estimates

SKILL.md 不止这些内容，安装后可阅读全文。

技能包内容

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