{
  "schema_version": "vk-valuation-league-format-v2",
  "id": "rolling100-top10",
  "name": "100家公司滚动前10估值晋级赛",
  "status": "default_for_future_editions",
  "adopted_on": "2026-10-25",
  "reference_edition": "edition-100-20261025",
  "current_url": "/vkratio-league/rolling100/",
  "selection": {
    "entrant_unit": "legal_issuer",
    "company_count": 100,
    "source": "latest_complete_official_weekend_forward_earnings_yield_batch",
    "order": "descending_yield_multiple_1y",
    "deduplicate": [
      "A/H",
      "Hong_Kong_US_ADS",
      "same_issuer_share_classes"
    ],
    "replenish_until_unique_companies": 100,
    "same_group_distinct_issuers_stay_separate": true,
    "cross_currency_price_averaging": false,
    "multiple_decides_entry_only": true,
    "native_window_shortfall": "retain_official_valid_observation_count_and_partial_flag",
    "metric": "current_forward_earnings_yield_pct / median_forward_earnings_yield_1y_pct",
    "metric_is_vk_multiple": false,
    "metric_definition": "daily Y%=100/positive forward PE; 1Y median=median of daily Y over the latest <=252 completed daily slots with >=100 valid samples; multiple=current Y/1Y median Y",
    "minimum_current_multiple": null,
    "selection_history": {
      "through_2026_10_31": "native VK 1Y multiple strictly greater than 1; superseded by the 2026-11-01 user rule"
    }
  },
  "schedule": {
    "stage_count": 10,
    "new_companies_per_stage": 10,
    "survivors_per_stage": 10,
    "stage1_pool": 10,
    "later_stage_pool": 20,
    "win_points": 1,
    "loss_points": 0,
    "reset_stage_points": true,
    "revivals": false,
    "eliminated_opponents_rechallenged": false,
    "expected_unique_pairs": 1350,
    "expected_stage_match_references": 1755,
    "expected_reused_match_references": 405
  },
  "panel": {
    "target_independent_families": [
      5,
      7
    ],
    "preflight_all_authorized_subscription_routes": true,
    "same_family_one_seat": true,
    "formal_minimum_families": 4,
    "trial_family_counts": [
      2,
      3
    ],
    "minimum_for_joint_results": 2,
    "rounds": [
      "independent_whole100_review",
      "anonymous_cross_review"
    ],
    "unavailable_policy": "record_and_skip_without_waiting_or_fabricated_votes",
    "respect_user_paused_or_withdrawn_seats": true,
    "no_new_paid_api_or_overage": true,
    "sources_and_material_fact_errors_must_pass_before_scoring": true
  },
  "consensus": {
    "freeze_before_stage1": true,
    "required_property": "one_strict_transitive_total_order_of_all100_companies",
    "order_by": [
      "equal_family_mean_rank_ascending",
      "joint_weighted_dimension_score_descending",
      "sourced_complete_tied_group_adjudication"
    ],
    "dimension_weights": {
      "valuation": 40,
      "earnings": 25,
      "growth": 20,
      "risk": 15
    },
    "higher_risk_score_means_safer": true,
    "pair_winner": "earlier_company_in_frozen_consensus_order",
    "family_pair_support_votes": "show_disagreement_only_do_not_override_total_order",
    "seed_code_or_array_order_tiebreak": false,
    "top10_guarantee_scope": "exact_same_rule_full100_consensus_top10_only_not_investment_truth",
    "majority_cycles": "pairwise_majority_first_is_not_the_future_default"
  },
  "reuse": {
    "one_sourced_company_dossier_per_frozen_edition": true,
    "reuse_complete_pair_verdict": true,
    "cache_key_parts": [
      "evidence_snapshot_sha256",
      "panel_and_consensus_sha256",
      "unordered_issuer_pair"
    ],
    "refresh_quotes_or_judges_requires_new_edition": true
  },
  "presentation": {
    "show_every_stage_top10": true,
    "show_per_match_reasons_and_disagreement": true,
    "basketball_scores_are_display_only": true,
    "score_formula_must_be_frozen_before_publication": true,
    "show_issuer_listing_values_separately": true,
    "show_actual_family_count_and_trial_status": true,
    "show_source_scope_annotations_without_changing_model_quotes_or_votes": true
  },
  "historical_reference": {
    "reference_edition_is_two_family_trial": true,
    "effective_families": [
      "gpt",
      "grok"
    ],
    "original_results_remain_unchanged": true,
    "original_pair_policy": "family_majority_then_mean_rank_then_dimensions",
    "two_family_equivalence": "the_recorded_pair_winners_equal_the_new_fixed_mean_rank_then_dimensions_order",
    "no_retroactive_reviewers_or_votes": true
  },
  "retired_public_assets": {
    "directories": [
      "data/vkratio-league/edition-70-20261024"
    ],
    "files": [
      "shared/vkratio-league.js",
      "shared/vkratio-league.css"
    ],
    "legacy_generic_urls_route_to_current_league": true,
    "private_recoverable_archive_is_not_public": true
  },
  "selection_updated_on": "2026-11-01",
  "current_result_edition": "edition-100-20261031-rerun"
}