Institutional Intelligence Platform

Agentic AI for Chinese Financial Forensics

Uncover hidden liabilities, mistranslations, and accounting anomalies in Chinese equities. Deterministic, institutional-grade analysis.

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
THE PROOF

See the Default Before the Market Does.

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 localized forensic modules — each targeting a specific vector of financial manipulation in Chinese equities.

双
Linguistic

Bilingual Asymmetry Detection

Cross-examines English and Chinese filings across 10 hunt categories to surface omissions, softened disclosures, and numerical deltas hidden in translation — the "Ghost Cards" that only bilingual analysis can reveal.

categories: 10 EN ↔ ZH
Σ
Quantitative

Beneish M-Score

8-variable probabilistic model for earnings manipulation detection. Calibrated against the -1.78 institutional threshold with full variable-level decomposition — DSRI, GMI, AQI, SGI, DEPI, SGAI, LVGI, and TATA.

intercept: -4.84 8 variables
Δ
Cash Flow

Sloan Accruals Ratio

Measures the gap between reported earnings and operating cash flows. A semicircular gauge visualizes the safety range (±10%), instantly flagging entities with aggressive accrual-based earnings.

safety: ±10% Gauge viz
§
Textual

Footnote Detection

Scans for inventory build-up signals, depreciation policy changes, and marketing-to-revenue efficiency anomalies. Each finding is tagged with severity and deep-linked to the source PDF page.

severity: H/M/L PDF links
The Architecture

Built to Never Hallucinate

A deterministic, math-backed pipeline that transforms raw financial filings into actionable forensic intelligence — enforced by a 9-node agentic swarm and rigid Pydantic schemas.

Agentic Workflow diagram
01

Agentic Workflow

Financial language processing driven by specialized multi-agent architectures that cross-examine corporate disclosures independently.

Ingestion
AI Swarm network diagram
02

AI Swarm

A distributed swarm utilizing dual-speed logic to route, translate, and verify granular numerical claims at scale without bottlenecking.

Processing
Pydantic Math diagram
03

Pydantic Math

Eliminates LLM math hallucinations. We force extracted values into rigid Pydantic schemas before routing them through deterministic formulas.

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

Daniel Collins

Co-Founder
  • Founder, Tyrell Chemical
  • Founder, Hippogriff Data Systems
  • Scaling complex cross-border industrial operations
Tycho Collins

Tycho Collins

Co-Founder · Lead Developer
  • AI/ML Engineer and Lead Developer
  • Ex-Professional Athlete
  • Architect of the multi-agent RAG pipeline

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 forensics