china-portfolio-monitoring

Purpose

Monitor A-share and China market portfolio company performance — financial performance, operational KPIs, strategic milestones, and risk indicators.

Data Sources

Primary: iFind MCP (Tier-1 paid) / AkShare MCP (Tier-2 free alternative)

get_quote(ticker)                        → Stock performance
get_historical_data(ticker)              → Price trend
get_financials(ticker, "income")         → Revenue, profit
get_financials(ticker, "balance")        → Balance sheet health
get_financials(ticker, "cashflow")        → Cash generation
get_stock_info(ticker)                   → Company updates

Secondary Sources

Cninfo announcements — material announcements
Earnings briefings — management updates
Wind / Choice — ownership, institutional data
Brokerage research reports — analyst updates

Workflow

Step 1: Define KPIs by Company

Financial KPIs (standard):

KPI	Frequency	Target / Benchmark
Revenue growth (YoY)	Quarterly	>XX%
Gross margin	Quarterly	>XX%
Net margin	Quarterly	>XX%
EBITDA	Quarterly	Growing
Net debt/EBITDA	Quarterly	<Xx
FCF	Quarterly	Positive
ROE	Quarterly / Annual	>XX%

Operational KPIs (company-specific):

Sector	Key KPIs
Baijiu	Wholesale price, sell-through, channel inventory, cash collection
Semiconductors	Capacity utilization, shipments, yield
New energy	Installed capacity, capacity utilization, technical parameters
Pharmaceuticals	R&D progress, clinical data, centralized procurement wins
Consumer	Store count, same-store growth, inventory turnover
SaaS/Tech	ARR, customer count, NRR, churn

Step 2: Financial Monitoring

Quarterly review template:

【投后监控】[Company] [Q20XX] 回顾

一、财务表现
   营业收入: [XX亿] (YoY: [X%]) [vs plan: +/-X%]
   毛利率: [XX%] (vs plan: +/-X bps)
   净利润: [XX亿] (YoY: [X%]) [vs plan: +/-X%]
   EBITDA: [XX亿] (Margin: [XX%])
   经营现金流: [XX亿]
   资本支出: [XX亿]
   自由现金流: [XX亿]

二、资产负债表
   现金余额: [XX亿]
   有息负债: [XX亿]
   净债务: [XX亿]
   净资产: [XX亿]
   商誉: [XX亿] (% of equity: [XX%])

三、估值跟踪
   Current price: [¥XX.XX]
   Market cap: [XX亿]
   PE (TTM): [Xx]
   vs Entry valuation: [Premium/Discount X%]
   vs Sector median: [Premium/Discount X%]

四、关键运营指标
   [Sector-specific KPIs with trends]

五、重大事项
   [Announcements, management changes, M&A, etc.]

六、风险预警
   [Risk flags, concerns]

七、下一步
   [Actions, meetings, reviews]

Step 3: Strategic Milestones

Milestone tracking:

Milestone	Target Date	Status	Notes
e.g., New product launch	Q2 2025	On track
e.g., Capacity expansion	Q3 2025	Delayed	1 quarter
e.g., Management hire	Q1 2025	Complete
e.g., IPO filing	Q4 2025	In progress

Step 4: Value Creation Tracking

Value creation levers:

Lever	Status	Impact
Revenue growth acceleration
Margin expansion
M&A consolidation
International expansion
Digital transformation
Management upgrade

Step 5: Risk Monitoring

Red flag indicators:

Risk	Indicator	Threshold	Action
Operating cash flow	Operating CF	Consecutive quarters negative	Escalate
Gross margin	Gross margin	Decline >500 bps	Review
Interest-bearing debt	Net debt/EBITDA	>4.0x	Review
Accounts receivable	AR days	>120 days	Review
Inventory	Inventory days	>90 days	Review
Share price	Share price	-30% from entry	Review
Lock-up expiration	Lock-up expiry	<3 months	Monitor
Pledge	Pledge ratio	>50%	Flag

Step 6: Reporting

Monthly / Quarterly report structure:

【投后月度/季度报告】[Company]

一、期间概要
   [Executive summary of period]

二、财务更新
   [Financial KPI table with trends]

三、运营更新
   [Operational KPIs, milestones]

四、估值更新
   [Current valuation, mark-to-market]

五、风险与问题
   [Risk flags, mitigation status]

六、下一步行动
   [Board meeting, management call, DD items]

China-Specific Monitoring Considerations

Market Context

Factor	Monitoring Implication
Price limit up/down	Price movement constraints
Northbound capital	Foreign flow trends
Dragon-Tiger List	Unusual trading activity
Policy changes	Regulatory impact on business
Industry prosperity	Sector cyclical position

Common Issues in A-share Portfolio Companies

Issue	Warning Signs	Response
Goodwill impairment	Goodwill >30% of equity	Impairment testing
Accounts receivable buildup	AR growth > revenue growth	Collections push
Inventory buildup	Inventory days rising	Discounting, write-downs
Poor operating cash flow	CF < Net income repeatedly	Working capital review
Major shareholder pledge	Pledge ratio rising	Engagement, covenant
Related-party transactions	Related party revenue high	Monitor for leakage
Delisting risk	*ST designation, losses	Exit planning

Value Creation Levers (China-specific)

Lever	Description	Typical Impact
Lean management	Operational efficiency	10-20% margin improvement
Channel optimization	Distribution optimization	15-30% revenue uplift
Digital transformation	Digital transformation	20-40% efficiency gain
M&A integration	Add-on acquisitions	20-50% value creation
Internationalization	Overseas expansion	New growth vectors
Equity incentives	ESOP implementation	Management alignment
Brand building	Brand investment	Pricing power

Quality Checks

Before delivering report:

All financial data sourced and current
KPIs tracked against targets
Milestones updated
Valuation current
Risk flags addressed
Action items clear

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