The Agentic Interface for China Equities

Automate bilingual extraction, eliminate information lag, and uncover hidden liabilities in HKEX & SSE equities in minutes, not days.

95+ HKEX Equities
9 Agentic Swarm
6mo Lead Time
01 Raw Filing
根据本集团财务报告，截至2022年12月31日
合并资产负债表显示流动负债合计人民币
流动资产
89,420
持续经营不确定性
147,550
关联方交易
23,000
注：本集团于报告期内发现
HKEX Filing · 2007.HK · FY2022 · p.135/287
02 AI Forensics
⬡
Translator
Beneish M
DSRI Model
Risk Scorer
9 agents · 287 pages
03 Intelligence
HIGH RISK 2007.HK
⚠
Going Concern p.135 · Translated from 持续经营
CRITICAL
▲
DSRI Anomaly Score 1.178 · Threshold 1.031
1.178
✖
Related Party Bailout p.245 · RMB 23,000M exposure
CRITICAL
⬆ 6 months before public default
LIVE EXTRACTION

Extraction Scale & Market Impact

Real-time extraction metrics and predictive risk signals — from raw processing speed to catching an $11B default six months early.

6.2 Minutes Average Bilingual Extraction Time
3,000+ Pages / 35 Min Institutional Batch Processing
XIAOMI (1810.HK) EXTRACT

Our extraction engine ingested Xiaomi's FY2024 English and Mandarin filings, verified symmetry, and extracted a hidden RMB 4.01 Billion restricted cash footnote in exactly 7.6 minutes.

Entity Run Time Status
0700.HK Tencent 6m 20s SAFE
1810.HK Xiaomi 7m 40s CRITICAL FLAG
0003.HK HK & China Gas 7m 15s SAFE
0883.HK CNOOC 8m 30s SAFE
9988.HK Alibaba 6m 10s CRITICAL FLAG
BACKTEST PROOF

Backtested against the Country Garden (2007.HK) 2022 Annual Report. Our engine generated a HIGH RISK signal six months before the $11B default.

HIGH RISK
2007.HK — Country Garden Holdings
Liquidity & Going Concern Risks

RED FLAG — GOING CONCERN DISCLOSURE: Management included a specific "Going Concern" assessment relying on RMB 266 billion in "unused loan facilities" and RMB 20 billion in new medium-term note quotas to survive the next 12 months [Page 135]. RED FLAG — RELATED PARTY BAILOUT: Controlling shareholder provided an interest-free, unsecured loan of HKD 5.055 billion (~RMB 4,500 million) with a 37-month maturity [Page 245].

Verdict: RED FLAG
Key Metric: Net loss of RMB 6,052 million and emergency controlling shareholder loan of RMB 4,500 million [Pages 34, 245].
Audit Flags: Explicit "Going Concern" assumptions relying on uncommitted bank facilities; massive off-balance sheet JV guarantees (RMB 24.1B); severe inventory write-downs (RMB 23B).
Confidence: HIGH
Annual Report FY2022 p.34–39 Annual Report FY2022 p.135 Annual Report FY2022 p.180–182 Annual Report FY2022 p.245
Forensic Health — Beneish M-Score (8/8)
Beneish M-Score -1.85
SAFE < -2.22 GRAY < -1.78 RED FLAG
DSRI1.178
GMI2.322
AQI0.977
SGI0.823
DEPI1.005
SGAI0.832
TATA-0.024
LVGI0.953
⚠ DSRI = 1.178 (> 1.1 threshold). Receivables growing faster than revenue — Potential Revenue Inflation.
Cash Quality — Sloan Accruals Ratio
-2.4% SAFE
SAFE ±10% ELEVATED ±25% HIGH RISK

Earnings backed by hard cash flow (±10% tolerance).

🏛 Auditor: PricewaterhouseCoopers Big 4
BILINGUAL ALIGNMENT CONFIRMED
2007.HK — Country Garden Holdings
✓ 287-page EN/ZH cross-examination complete
Passages Checked: 148 Risk Terms Flagged: 0 Delta Threshold: >15%
PASSAGE / RISK CATEGORY ZH PAGE EN PAGE STATUS
持续经营风险 — Going Concern Disclosure p.135 p.135 ✓ MATCH
关联方贷款 — Related Party Loan Terms p.245 p.245 ✓ MATCH
银行融资安排 — Bank Facility Disclosures p.34 p.34 ✓ MATCH
存货减值准备 — Inventory Write-Down Figures p.180 p.180 ✓ MATCH
Translation layer confirmed transparent. The risk in this filing is in the numbers — not the language. EN-only investors received full disclosure. Forensic investigation escalated to quantitative and structural analysis.
Annual Report FY2022 p.34 Annual Report FY2022 p.135 Annual Report FY2022 p.180 Annual Report FY2022 p.245
✓ PASS 📄 Financial Cross-Check

Financial Statement Cross-Check (P&L ↔ Cash Flow)

P&L (p.128) (RMB 2,962)M ✓ Aligned (Loss)/profit for year
CF (p.134) RMB 5,361M ✓ Aligned Profit before income tax

Variance: 0% · Different line items — expected

✓ PASS ⏱ Reporting Period Alignment

Fiscal Year Alignment

No fiscal year specification discrepancies detected.

▲ FLAGGED 🔍 Footnote Hunter

Restatement / Reclassification Scan · 1 flag(s)

1 footnote flag(s) detected (0 HIGH, 0 MEDIUM)

LOW Page 142 Note 2(b)

Trigger: "adopted HKFRS 17"

HIGH Going Concern disclosure — management assumes RMB 266B in "unused loan facilities" to survive next 12 months p.135 →
HIGH Related party bailout — controlling shareholder injected interest-free unsecured HKD 5.055B loan (37-month maturity) p.245 →
HIGH Inventory & property write-downs of RMB 23,000M — up 112% from RMB 10,871M prior year p.182 →
MED Available cash dropped 18.6% to RMB 147,550M — includes RMB 19,269M restricted in pre-sale guarantees p.36 →
MED Post-hedging FX losses of RMB 8,379M wiped out operating margins p.35 →
The Intelligence

Core Analytical Modules

Four forensic angles on Chinese equities — bilingual disclosure, earnings manipulation, accrual quality, and footnote signals.

双
Linguistic

Bilingual Asymmetry Detection

Cross-examines EN and ZH filings across 10 hunt categories for omissions, softened disclosures, and translation-hidden deltas — "Ghost Cards" only bilingual analysis reveals.

categories: 10 EN ↔ ZH
Σ
Quantitative

Beneish M-Score

8-variable probabilistic model calibrated to the -1.78 institutional threshold, with full decomposition across DSRI, GMI, AQI, SGI, DEPI, SGAI, LVGI, and TATA.

intercept: -4.84 8 variables
Δ
Cash Flow

Sloan Accruals Ratio

Gap between earnings and operating cash flow, plotted on a ±10% gauge to flag aggressive accrual-based earnings.

safety: ±10% Gauge viz
§
Textual

Footnote Detection

Detects inventory build-up, depreciation policy shifts, and marketing-to-revenue anomalies — severity-tagged and linked to source PDF pages.

severity: H/M/L PDF links
The Architecture

Built to Never Hallucinate

Deterministic, math-backed pipeline from raw filings to forensic intelligence — enforced by a 9-node agentic swarm and rigid Pydantic schemas.

Agentic Workflow diagram
01

Agentic Workflow

Multi-agent financial language processing that cross-examines corporate disclosures independently.

Ingestion
AI Swarm network diagram
02

AI Swarm

Dual-speed swarm routes, translates, and verifies numerical claims at scale without bottlenecks.

Processing
Pydantic Math diagram
03

Pydantic Math

Extracted values locked in Pydantic schemas before deterministic formulas — eliminating LLM math hallucinations.

Output
Coverage

Chinese Exchange Coverage

Deploying agentic intelligence across primary Chinese and Hong Kong equity markets.

LIVE
Hong Kong Stock Exchange 95+ Covered Equities Full Agentic Analysis
IN DEVELOPMENT
Shanghai Stock Exchange Data Pipeline Mapping... Awaiting Deployment
IN DEVELOPMENT
Shenzhen Stock Exchange Data Pipeline Mapping... Awaiting Deployment
The Team

50+ Years of China
Market Experience

Institutional-grade forensic intelligence built by a team with decades of on-the-ground China operations, cross-border scaling, and AI engineering.

Mitch Presnick

Mitch Presnick

Co-Founder Chief Strategy Officer
  • Founder, Super 8 Hotels China
  • Harvard Fairbank Center Visiting Fellow '25
  • 30+ years of regulatory and on-the-ground China operations
Tycho Collins

Tycho Collins

Co-Founder Chief Technology Officer
  • AI/ML Engineer and Lead Developer
  • Architect of the multi-agent RAG pipeline
  • Ex-Professional Athlete
Daniel Collins

Daniel Collins

Co-Founder Chief Operating Officer
  • Founder, Tyrell Chemical
  • Founder, Hippogriff Data Systems
  • Scaling complex cross-border industrial operations
LIVE EXTRACTION BRIEFS

Institutional Extraction Briefs

Sample 9-page extraction briefs generated by the Vestigia engine. Each brief covers a publicly listed HKEX entity with full quantitative and qualitative audit coverage.

🔒

Enter your institutional email to unlock the 9-page extraction brief.

Ready to See What Others Miss?

Request early access to the Vestigia Labs institutional terminal. Spots are limited — currently supporting HKEX-listed entities with bilingual EN/ZH coverage.

◆ HKEX coverage · Bilingual EN/ZH · Institutional-grade extraction