Research reports, generally referred to as broker research reports or sell-side reports, are analytical documents authored by securities analysts at brokerage firms to serve as references for investment activities. A comprehensive broker research report typically synthesizes factual data, research findings, and other information to conduct an integrated analysis of specific securities' value. It presents perspectives on listed companies, industries, or macro policies and assigns investment ratings to relevant stocks. Research institutes within brokerages represent the firm's public image and brand identity. Although they do not directly generate profits, their research capabilities profoundly influence the development of brokerage businesses, investment banking operations, and direct investment subsidiaries. High-quality research reports attract institutional investors (e.g., public/private fund companies) to open accounts and execute trades, thereby generating brokerage business revenue.
Research reports can be categorized by subject matter into: macroeconomics, investment strategy, industry analysis, company research, bond research, futures research, and financial engineering. Among these, company research reports garner significant attention. Company research reports typically involve analyses conducted by dedicated financial analysts at brokerages or investment banks. These reports evaluate the operational performance and profitability of specific listed companies, providing investment references. Coverage includes, but is not limited to, the company's industry, competitive positioning, growth prospects, and fundamental financial conditions.
CnOpenData's A-Share Listed Companies Analyst Research Reports and Comments Data comprises two components: the Basic Information Table of Individual Stock Research Reports and the Comments Table of Individual Stock Research Reports. The data is presented in structured tables alongside original PDFs, encompassing fields such as report titles, analysts, issuing institutions, comment content, and user information. This dataset not only delivers fundamental details of research reports but also provides commentary from market participants.
Time Coverage
2021.07 - 2025.06
Field Display
Sample Data
Basic Information Table of Individual Stock Research Reports
Comments Table of Individual Stock Research Reports
Relevant Literature
- YI Zhihong, YANG Shengzhi, CHEN Qinyuan, 2019: "Can Analysts Reduce Stock Price Synchronicity?—An Empirical Study Based on Textual Analysis of Research Reports," China Industrial Economics, No. 1.
- ZHONG Qinlin, LIU Yuanyuan, 2020: "Do Analyst Reports Contain Higher Information Content During Periods of Economic Policy Uncertainty?—A Dual Perspective of Investor Demand and Analyst Supply," Accounting Research, No. 3.
Data Update Frequency
Annual Update