longbridge-adr-premium

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