A SEC filing research prompt pack for source-aware stock research

一套用于基于原始资料进行股票研究的 SEC 文件分析提示词包

Who this is for Use this when you want to understand a company from primary sources without letting an AI model invent confidence. The goal is not to decide whether a stock is good or bad. The goal is to build a cleaner research trail from SEC filings, financial statements, market data, news, and crowd discussion.

适用对象 当你希望通过原始资料了解一家公司，且不希望 AI 模型凭空捏造信心时，请使用此工具。其目的不是为了判断股票的好坏，而是为了从 SEC 文件、财务报表、市场数据、新闻和大众讨论中建立一条更清晰的研究脉络。

Non-negotiable rule Every answer must include:

Source type, for example 10-K, 10-Q, 8-K, S-1, earnings release, transcript, news article, or company page
Filing or publication date
Exact excerpt or table row used
A short explanation of why it matters
Confidence level
What is still unknown If the model cannot cite the source, it should say so and stop.

不可逾越的规则 每个回答必须包含：

来源类型（例如：10-K, 10-Q, 8-K, S-1, 财报发布, 会议纪要, 新闻文章或公司页面）
文件或发布日期
所使用的确切摘录或表格行
关于其重要性的简短解释
置信度
尚不明确的内容如果模型无法引用来源，则必须说明并停止输出。

10 minute first-pass workflow / 10分钟初步工作流程

Identify the business: Read the company description, segment note, and latest risk factors. Output a one-paragraph plain-English business model.
Find what changed: Compare the latest 10-Q or 10-K against the prior period. Focus on revenue, gross margin, cash flow, debt, customer concentration, and share count.
Check liquidity and dilution risk: Pull cash, debt, operating cash flow, recent financing, shelf registrations, warrants, and ATM programs.
Read management’s own warnings: Extract the 5 to 10 risk factors most directly tied to revenue, survival, regulation, or financing.
Separate facts from narrative: Create two columns: verified facts and management claims.
Inspect market and crowd context: Summarize recent news, Reddit, and StockTwits discussion as attention context only. Do not treat crowd excitement as evidence of business quality.
Write the research memo: Summarize what is known, what changed, what could matter next, and what needs human review.
识别业务： 阅读公司简介、业务分部说明和最新的风险因素。用一段通俗易懂的英语概括其商业模式。
发现变化： 将最新的 10-Q 或 10-K 与上一期进行对比。重点关注收入、毛利率、现金流、债务、客户集中度和股份数量。
检查流动性和稀释风险： 提取现金、债务、经营现金流、近期融资、搁置发行、认股权证和 ATM（自动增发）计划。
阅读管理层的自我警告： 提取 5 到 10 个与收入、生存、监管或融资最直接相关的风险因素。
区分事实与叙述： 创建两栏：已验证的事实和管理层的声明。
考察市场和大众背景： 总结近期新闻、Reddit 和 StockTwits 上的讨论，仅作为关注度背景。不要将大众的兴奋视为业务质量的证据。
撰写研究备忘录： 总结已知信息、变化内容、未来可能的影响以及需要人工复核的部分。

Prompt 1: source-grounded company snapshot / 提示词 1：基于来源的公司快照

You are helping with source-aware equity research. This is not investment advice. Given the company ticker and the provided filings or source excerpts, create a company snapshot. Required output:

Business model in plain English
Main revenue streams
Customer or segment concentration if disclosed
Key recent change from the latest filing
5 source citations with source type, filing date, exact excerpt, and why it matters
Unknowns or areas needing human review

Rules:

Do not use unstated facts.
Do not make price targets, buy or sell recommendations, or return predictions.
If evidence is missing, write “not established from provided sources.”

你正在协助进行基于来源的股票研究。这不是投资建议。根据公司代码和提供的文件或来源摘录，创建一份公司快照。所需输出：

通俗易懂的商业模式
主要收入来源
若有披露，说明客户或分部集中度
最新文件中提到的近期关键变化
5 条来源引用，包含来源类型、文件日期、确切摘录及其重要性
未知信息或需要人工复核的领域

规则：

不要使用未陈述的事实。
不要给出目标价、买入或卖出建议，或收益预测。
如果缺乏证据，请写“无法从提供的来源中确定”。

Prompt 2: compare this filing to the prior one / 提示词 2：将本文件与上一份进行对比

Compare the latest filing against the prior comparable filing. Focus areas: Revenue growth/decline, Gross/operating margin change, Cash and debt, Operating cash flow, Share count and dilution, Segment performance, New/removed risk language, Material legal/regulatory/customer changes.

Output a table with: Topic, Latest period fact, Prior period fact, Direction of change, Exact source excerpt, Why a researcher should care, Confidence.

Rules:

Do not infer causation unless management explicitly states it.
Flag accounting changes separately from operating changes.
If a metric is not comparable, explain why.

将最新文件与上一份可比文件进行对比。重点领域：收入增长/下降、毛利率/营业利润率变化、现金和债务、经营现金流、股份数量和稀释、分部表现、新增/删除的风险措辞、重大的法律/监管/客户变更。

输出表格，包含：主题、最新期间事实、上一期间事实、变化方向、确切来源摘录、研究人员为何应关注、置信度。

规则：

除非管理层明确说明，否则不要推断因果关系。
将会计变更与经营变更分开标记。
如果某项指标不可比，请解释原因。

Prompt 3: risk factor triage / 提示词 3：风险因素分类与评估

Extract and triage the most important risk factors from this filing. Return:

Top 10 risk factors ranked by directness to business performance, financing, regulation, or survival
For each risk, include the exact excerpt, filing date, and a plain-English translation
Mark whether the risk is generic, company-specific, or newly intensified
Identify any risks that connect to recent news or financial statement changes

Rules:

Do not exaggerate generic legal boilerplate.
Do not minimize company-specific risks.
Do not provide investment advice.

从文件中提取并评估最重要的风险因素。返回：

按与业务表现、融资、监管或生存的直接相关性排名的前 10 大风险因素
对于每个风险，包含确切摘录、文件日期和通俗易懂的翻译
标记该风险是通用的、公司特有的，还是近期加剧的
识别任何与近期新闻或财务报表变化相关的风险

规则：

不要夸大通用的法律模板。
不要淡化公司特有的风险。
不要提供投资建议。

Prompt 4: liquidity and dilution checklist / 提示词 4：流动性和稀释检查清单

Review the provided filings for liquidity and dilution indicators. Check for: Cash and equivalents, Debt maturity schedule, Operating cash flow trend, Going concern language, Shelf registration, ATM offering program, Warrants or convertibles, Recent private placements, Share count changes, Management comments about funding needs.

Output: Evidence found, Exact source excerpt, Why it matters for research, What cannot be concluded from the available sources.

Rules:

Do not call dilution good or bad.
Do not predict financing events.
Only state what filings support.

审查所提供文件中的流动性和稀释指标。检查：现金及现金等价物、债务到期时间表、经营现金流趋势、持续经营假设措辞、搁置发行、ATM 增发计划、认股权证或可转债、近期私募、股份数量变化、管理层关于资金需求的评论。

输出：发现的证据、确切来源摘录、对研究的重要性、现有来源无法得出的结论。

规则：

不要评价稀释是好是坏。
不要预测融资事件。
仅陈述文件支持的内容。

Prompt 5: management claim audit / 提示词 5：管理层声明审计

Audit management’s narrative against reported numbers. Create three sections:

Claims supported by numbers
Claims not yet proven by numbers
Claims that need more source context

For each item, include: Management claim, Relevant metric or filing excerpt, Whether the evidence supports/partially supports/does not establish the claim, Human follow-up question.

Rules:

Be skeptical but fair.
Avoid snark.
Do not use stock price movement as proof of business quality.

根据已报告的数字审计管理层的叙述。创建三个部分：

有数字支持的声明
尚未被数字证明的声明
需要更多来源背景的声明

对于每一项，包含：管理层声明、相关指标或文件摘录、证据是否支持/部分支持/无法证实该声明、人工跟进问题。

规则：

保持怀疑但公平。
避免讽刺。
不要将股价波动作为业务质量的证明。

Prompt 6: crowd discussion sanity check / 提示词 6：大众讨论合理性检查

Summarize recent Reddit, StockTwits, and news discussion around this ticker as attention context only. Output: Main topics, Claims requiring verification, Obvious rumors/unsupported statements, Links between crowd attention and company events, What should be checked in primary sources.

Rules:

Do not treat crowd sentiment as investment evidence.
Do not amplify rumors as facts.
Do not recommend trades.

总结近期 Reddit、StockTwits 和新闻中关于该股票代码的讨论，仅作为关注度背景。输出：主要话题、需要验证的声明、明显的谣言/无根据的陈述、大众关注点与公司事件之间的联系、在原始资料中应检查的内容。

规则：

不要将大众情绪视为投资证据。
不要将谣言放大为事实。
不要推荐交易。

Prompt 7: final research memo template / 提示词 7：最终研究备忘录模板

Write a first-pass research memo from the provided source-backed notes. Sections:

What the company does
What changed recently
Financial condition snapshot
Key risks
Management claims that deserve follow-up
Crowd and news context
Open questions for a human researcher
Source list

Rules:

Keep the memo source-aware.
Include exact citations for important claims.
Use cautious language.
No buy, sell, hold, price target, or expected return language.

根据提供的基于来源的笔记撰写一份初步研究备忘录。部分：

公司业务
近期变化
财务状况快照
关键风险
值得跟进的管理层声明
大众和新闻背景
给人工研究员的开放性问题
来源列表

规则：

保持备忘录的来源导向。
对重要声明包含确切引用。
使用谨慎的语言。
不得包含买入、卖出、持有、目标价或预期收益等语言。

Red flags that should force a human review:

The model cites a filing but cannot quote the excerpt.
The model mixes quarterly and annual data without explanation.

应强制进行人工复核的警示信号：

模型引用了文件但无法引用摘录。
模型在未加解释的情况下混用了季度和年度数据。