china-clean-data-xls

china-clean-data-xls

Purpose

Clean and normalize A-share financial data — prepare raw financial data from 巨潮 filings for modeling and analysis.

Data Sources

Tier 0 — 万得 Wind (most comprehensive paid data)

• Coverage: A-shares/Hong Kong and US stocks/funds/indices/bonds/macro/research reports/analysis (44 tools)
• MCP service:wind-mcp(requires WIND_API_KEY key, starting with ak_ )
• Advantages: broadest full-market coverage, most comprehensive data, includes research reports and quantitative analysis
• Key application:https://aifinmarket.wind.com.cn/#/home

Tier 1 — 同花顺 iFind (paid precise data) / AkShare MCP (Tier-2 free alternative)

get_financials(ticker, "income")     → Raw income statement
get_financials(ticker, "balance")    → Raw balance sheet
get_financials(ticker, "cashflow")   → Raw cash flow statement

Secondary Sources

• 巨潮 — original filings (PDF/HTML)
• Audit report — audited figures

Workflow

Step 1: Data Extraction

Extract from source documents:

Document	Key Data	Format
Balance sheet	Assets, liabilities, equity	thousand yuan
Income statement	Revenue, expenses, profit	thousand yuan
Cash flow statement	Operating, investing, financing CF	thousand yuan
Notes to financial statements	Detail breakdowns	Text/number
Audit report	Audit opinion, adjustments	Text

Extraction checklist:

• All periods extracted (typically 3-5 years)
• Quarterly data if needed
• Prior year comparatives
• Notes and footnotes captured

Step 2: Normalize Units

Unit standardization:

Issue	Solution
thousand yuan vs ten thousand yuan vs yuan	Standardize to 万元
Different report dates	Align to same period-end
Segment data	Map to consistent segments
Currency	All CNY

Unit conversion:

From 千元: divide by 10 → 万元
From 元: divide by 10,000 → 万元
From 亿元: multiply by 10,000 → 万元

Step 3: Handle CAS-Specific Items

CAS vs IFRS mapping:

CAS Line Item	Equivalent	Notes
Operating revenue	Revenue	Net of VAT
Operating costs	COGS	Includes VAT
Taxes and surcharges	Tax & surcharges	城建税, 教育费附加
Selling expenses	SG&A (selling)
Administrative expenses	G&A
R&D expenses	R&D	Separated from G&A in new CAS
Financial expenses	Interest & finance costs
Investment income	Investment income	Including 联营/合营
Fair value changes	Fair value change
Credit impairment losses	Credit impairment	New CAS 22
Asset impairment losses	Asset impairment
Asset disposal income	Asset disposal
Non-operating income	Non-operating income	Including 政府补助
Non-operating expenses	Non-operating expense
Income tax expense	Income tax
Net profit	Net income
Net profit attributable to parent company	Net income to parent	Key metric
Net profit after non-recurring items	Non-GAAP net income

Step 4: Fix Common Data Issues

Common issues and fixes:

Issue	Detection	Fix
Missing periods	Gap in data	Flag for manual fill
Restated figures	Footnote "重述"	Use most recent restatement
Segment reclassification	Note disclosure	Map to new segments
One-time items	Large/unusual items	Flag for normalization
Related party	关联交易标注	Identify and quantify
Accounting change	Policy change note	Adjust comparables
Error	Doesn't sum	Investigate and correct

Step 5: Revenue Breakdown

Revenue by type:

Type	CAS Line	Notes
Main business revenue	Core revenue	Main business
Other business revenue	Other revenue	Ancillary
Total	Total revenue

Revenue by geography (if disclosed):

Region	Current Year	Prior Year	Growth
Domestic
Overseas
Total

Step 6: Expense Normalization

Normalize non-recurring items:

Item	Treatment
Asset disposal gains/losses	Exclude from operations
政府补助 (non-recurring)	Exclude or note separately
Litigation/fines	Exclude
Impairment (one-time)	Exclude or normalize
M&A-related expenses	Exclude

Adjusted metrics:

调整后营业收入 = 营业收入 - 其他业务收入
调整后营业成本 = 营业成本 (core only)
调整毛利率 = 调整后毛利 / 调整后收入

Step 7: Balance Sheet Clean-up

Balance sheet mapping:

CAS Item	Modeling Category
Monetary funds	Cash & equivalents
Trading financial assets	Short-term investments
Notes receivable	Notes receivable
Accounts receivable	Accounts receivable
Prepayments	Prepayments
Other receivables	Other receivables
Inventory	Inventory
Other current assets	Other current assets
Long-term equity investments	Long-term investments
Fixed assets	PPE
Construction in progress	Construction in progress
Intangible assets	Intangibles
Goodwill	Goodwill
Long-term deferred expenses	Deferred charges
Other non-current assets	Other non-current
Short-term borrowings	Short-term debt
Notes payable	Notes payable
Accounts payable	Accounts payable
Contract liabilities	Contract liabilities
Employee benefits payable	Accrued compensation
Taxes payable	Taxes payable
Other payables	Other payables
Non-current liabilities due within one year	Current portion LTD
Long-term borrowings	Long-term debt
Bonds payable	Bonds payable
Provisions	Provisions
Deferred tax liabilities	DTL
Other non-current liabilities	Other non-current
Share capital	Share capital
Capital reserve	Capital reserve
Surplus reserve	Retained earnings (statutory)
Undistributed profits	Retained earnings
Equity attributable to shareholders of the parent company	Parent equity
Minority interests	Minority interest

Step 8: Quality Checks

Data quality checklist:

Check	Pass Criteria
Balance sheet balances	Assets = Liabilities + Equity
Cash flow ties	CF = ending cash - beginning cash
Revenue matches	Cross-check with segment data
Tax reasonable	Tax / pre-tax income ~25%
Depreciation consistent	D&A / PPE stable
Interest matches	Interest / debt reasonable

China-Specific Data Issues

Common Issues

Issue	Example	Fix
Inconsistent units	Some in thousands, some in yuan	Standardize
Changes in accounting policies	Revenue recognition change	Adjust comparables
Changes in statement format	New line items	Map to old format
Retrospective adjustments	Prior period restatement	Use restated figures
Foreign currency statements	Subsidiary in USD	Convert to CNY

CAS-Specific Treatments

Item	CAS Treatment
Research and development expenses	Must be expensed (not capitalized, generally)
Government grants	Gross method vs net method
Share-based payment	Expensed over vesting period
Insurance contracts	CAS 25 (if applicable)

Quality Checks

Before passing data for modeling:

• All periods complete
• Units standardized
• Balance sheet balances
• Cash flow ties
• CAS items correctly mapped
• Non-recurring items flagged
• Restatements applied
• Quality issues documented

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
• wind-only: Wind only, error if unavailable
• wind-fallback: Wind first, fallback to iFind → AkShare