# T1 Demand Text Backfill

Run date: 2026-06-15
Archive mode: `t1_demand_text_backfill`
Target: T1 allotment rows with archived allotment-results sources but missing `ipo_demand`

## Result

The T1 source-only demand gap was closed.

- Initial source-only T1 demand gaps: 137.
- `ipo_demand` rows before backfill: 154.
- `ipo_demand` rows after backfill: 291.
- T1 complete rows without `ipo_demand`: 0.
- T1 pending-not-due rows: 2 (`06106`, `06675`).

## Source Handling

- Existing extracted PDF text supplied most of the backfill.
- Old HKEX HTML allotment-result pages were followed to their linked Summary PDFs.
- Clarification or supplemental notices that had been selected as allotment-results sources were corrected by archiving the primary allotment-results announcement from the same HKEX title-search window.
- New allotment-result PDF sources archived: 38.
- PDF source refs after backfill: 595.
- Extracted-text manifest rows after backfill: 595.
- Extracted-text manifest status: 595 `ok`.

## Field Policy

Only explicitly disclosed demand fields were stored.

No missing demand field was inferred from share counts or other derived calculations. For example, where a Summary PDF disclosed valid applications, public subscription, international placee count, and final share counts but omitted successful applicants or international subscription level, the omitted fields were left null.

## Verification

- SQLite integrity check: `ok`.
- Foreign-key violations: 0.
- DB row counts match CSV snapshots for `ipo_master`, `offering_terms`, `ipo_demand`, `source_refs`, `sync_runs`, `ticker_sync_state`, and `sync_tasks`.
- `source_refs`: 1,187 rows, 0 bad paths, 0 missing files, 0 hash mismatches.
- PDF manifest reconciliation: 595 PDF sources, 595 manifest rows, 0 missing manifest rows, 0 orphan manifest rows, 0 missing text files, 0 PDF hash mismatches, 0 text hash mismatches.
- Incremental empty rerun selected 0 source-only gaps and wrote 0 rows.

## Remaining Non-T1 Gaps

The T1 structural gap is closed, but historical completeness is still not fully complete:

- T2 grey-market remains blocked for 291 listed tickers pending a reproducible source strategy.
- Price-performance open tasks remain for D1/D5/D20/D60.
- Context fields such as industry label, market cap, and net proceeds remain incomplete.

The v0 analysis dataset should be regenerated by `analyst` before using the new T1 demand facts for scoring or calibration.