longbridge-adr-premium

name	longbridge-adr-premium
description	ADR / H-share / A-share cross-market pricing analysis via Longbridge Securities — tracks the premium or discount between US-listed ADRs, HK-listed H-shares, and A-shares; calculates theoretical arbitrage spread; analyses constraints (FX controls, transaction costs, liquidity). Triggers: "ADR溢价", "ADR折价", "AH溢价", "ADR套利", "美股ADR", "三地比价", "跨市场套利", "双重上市", "ADR溢價", "ADR折價", "AH溢價", "ADR套利", "三地比價", "跨市場套利", "ADR premium", "ADR discount", "AH premium", "ADR arbitrage", "cross-listing premium", "dual-listed", "three-market comparison", "BABA ADR", "HK ADR".
license	MIT
metadata	{"author":"longbridge","version":"1.0.0","risk_level":"read_only","requires_login":false,"default_install":true,"requires_mcp":false,"tier":"read"}

longbridge-adr-premium

Cross-market premium / discount analysis for companies dual- or triple-listed as ADR (US), H-share (HK), and/or A-share (CN).

Response language: match the user's input language — Simplified Chinese / Traditional Chinese / English.

When to use

Trigger on prompts asking about:

• ADR vs H-share premium / discount — "BABA ADR 溢价", "百度 ADR 和港股哪个便宜"
• Three-market comparison — "BABA.US / 9988.HK / 阿里A股 比价"
• Theoretical arbitrage spread and constraints — "ADR 套利空间", "ADR arbitrage"
• Dual-listing pricing discrepancy — "dual-listed premium", "跨市场套利"

For pure A/H premium time series defer to longbridge-ah-premium.

Workflow

1. Identify all available listing venues for the company (ADR ticker, HK code, A-share code).
2. Fetch real-time quotes for each venue.
3. Fetch USD/HKD and USD/CNY exchange rates.
4. Convert all prices to a common currency (USD) using the ADR ratio where applicable.
5. Calculate premium / discount between each pair: (Price_A − Price_B) / Price_B × 100%.
6. Assess arbitrage constraints: FX repatriation rules, stamp duty, liquidity depth, settlement lag.
7. Output a comparison table and narrative.

If unsure of exact flag names, run longbridge <subcommand> --help before proceeding.

CLI

# Quotes for each listing venue
longbridge quote <ADR_SYMBOL> --format json
longbridge quote <HK_SYMBOL> --format json
longbridge quote <A_SYMBOL> --format json   # omit if no A-share listing

# Exchange rates for currency conversion
longbridge exchange-rate --format json

Common examples:

Company	ADR	H-share	A-share
Alibaba	BABA.US	9988.HK	—
Baidu	BIDU.US	9888.HK	—
JD.com	JD.US	9618.HK	—
NIO	NIO.US	9866.HK	—

Output

Present a summary table then a narrative:

Symbol        Price (local)   Price (USD)   vs ADR
──────────────────────────────────────────────────
BABA.US        $82.50          $82.50        baseline
9988.HK        HK$638.00       $81.79        −0.9%

Then explain:

• Which venue is cheapest / most expensive and why.
• Arbitrage constraints (FX controls, transaction costs, liquidity).
• Whether the spread is actionable or structural.

Error handling

Situation	简体回复	繁體回復	English reply
Symbol not found	未找到该代码，请确认上市交易所和代码格式。	找不到該代碼，請確認上市交易所和代碼格式。	Symbol not found — please verify the exchange and ticker format.
No ADR listing	该公司没有美股 ADR，只能比较 H 股和 A 股。	該公司沒有美股 ADR，只能比較 H 股和 A 股。	No US ADR found — comparing H-share vs A-share only.
Exchange rate unavailable	汇率数据暂时不可用，无法换算成同一货币。	匯率數據暫時不可用，無法換算成同一貨幣。	Exchange rate unavailable — cannot convert to a common currency.
command not found: longbridge	请先安装 longbridge-terminal，或通过 MCP 连接。	請先安裝 longbridge-terminal，或透過 MCP 連線。	Install longbridge-terminal or connect via MCP.
not logged in	请运行 longbridge auth login 完成登录。	請執行 longbridge auth login 完成登入。	Run longbridge auth login to authenticate.

MCP fallback

When the CLI is unavailable, fall back to the MCP server. Discover available tools from the MCP server's tool list at runtime.

Related skills

• longbridge-ah-premium — A/H premium time series and intraday curve
• longbridge-peer-comparison — side-by-side valuation across 2–5 symbols
• longbridge-fx — FX spot rates

File layout

skills/longbridge-adr-premium/
└── SKILL.md