{
    "id": "VAL-040",
    "category": "VAL",
    "title": "現金消耗與融資後估值",
    "question": "虧損公司若需要籌資，目前估值可能被稀釋多少？",
    "chart": "matrix",
    "metric": "情境稀釋後每股價值（報價貨幣）",
    "secondary": "新增股份比例（%）",
    "x": "發行折讓（%）",
    "y": "募資金額（百萬）",
    "panels": [
        "融資稀釋矩陣",
        "現金缺口",
        "發行價格假設"
    ],
    "filters": [
        "股票 / 同業池",
        "估值日期",
        "倍數 / 假設情境"
    ],
    "apis": [
        "FUND",
        "EOD",
        "USER"
    ],
    "calculation": "使用 USER 指定未來現金缺口、發行折讓、募資規模及估值基準；新增股數 = 募資金額 / 發行價，再算股權價值 / 新股數總額。",
    "caveat": "未來募資不是已公告事件；股價反應、費用與資金投資回報需另設假設。；預覽數值全為合成示例，非即時行情。非美股及港股欄位、歷史深度按股票實際覆蓋。",
    "data_class": "用戶資料",
    "complexity": "高",
    "audience": "進階",
    "reach": 7,
    "frequency": 6,
    "decision": 9,
    "clarity": 8,
    "sample_labels": [
        "低募資",
        "中募資",
        "高募資",
        "低折讓",
        "高折讓"
    ],
    "cadence": "使用者修改持倉、核銷或情境時重算；收市後更新價格；新財報入庫後重算",
    "category_name": "估值",
    "score": 73.0,
    "requires_user_input": true,
    "requires_extra_plan": false,
    "source_urls": [
        "https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds",
        "https://eodhd.com/financial-apis/api-for-historical-data-and-volumes"
    ],
    "rank": 535,
    "stage": "P3",
    "svg_file": "mockups/0535-VAL-040.svg",
    "demo_fingerprint": "2820a700d9113cf3",
    "collection": "catalogue",
    "sample_annotation": {
        "sample": true,
        "as_of": "2026-10-16",
        "notice": "Charts and tables for this report are generated, deterministic synthetic sample observations for educational layout and unit demonstration only. No provider, market data or analysis engine is called, and nothing here is a statement about real securities.",
        "notice_zh": "此報告的圖表與數據為確定性生成的合成示例數據，僅供教育及版面展示；並無連接任何資料供應商或實際分析引擎，不代表任何真實證券的表現。",
        "default_filters": {
            "symbol": "0700.HK",
            "period": "1Y",
            "benchmark": "HSI"
        },
        "filters": {
            "symbol": [
                "0700.HK",
                "0005.HK",
                "AAPL.US",
                "MSFT.US",
                "SPY.US",
                "BTC-USD.CC"
            ],
            "period": [
                "1Y",
                "3Y",
                "5Y"
            ],
            "benchmark": [
                "HSI",
                "SPX",
                "BTC"
            ]
        },
        "library": {
            "version": "2026-10-19",
            "source": "https://chatgpt.com/share/6ad67223-c610-83e8-adb2-33aaf792e584",
            "sample": true
        }
    }
}