FinRpt: Dataset, Evaluation System and LLM-based Multi-agent Framework for Equity Research Report Generation

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Authors: Association for Artificial Intelligence 2026, Song Jin, Shuqi Li, Rui Yan, Shukun Zhang
Cited by: 0

Abstract

While LLMs have shown great success in financial tasks like stock prediction and question answering, their application in fully automating Equity Research Report generation remains uncharted territory. In this paper, we formulate the Equity Research Report (ERR) Generation task for the first time. To address the data scarcity and the evaluation metrics absence, we present an open-source evaluation benchmark for ERR generation - FinRpt. We frame a Dataset Construction Pipeline that integrates 7 financial data types and produces a high-quality ERR dataset automatically, which could be used for model training and evaluation. We also introduce a comprehensive evaluation system including 11 metrics to assess the generated ERRs. Moreover, we propose a multi-agent framework specifically tailored to address this task, named FinRpt-Gen, and train several LLM-based agents on the proposed datasets using Supervised Fine-Tuning and Reinforcement Learning. Experimental results indicate the data quality and metrics effectiveness of the benchmark FinRpt and the strong performance of FinRpt-Gen, showcasing their potential to drive innovation in the ERR generation field. All code and datasets are publicly available.

Fields of Study & Subjects

Stock Market Forecasting Methods Topic Modeling Financial Analysis and Corporate Governance

Publication details

Journal / source
Underline Science Inc.
Publication date
7 January 2026
Language
EN