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| Main Author: | |
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| Format: | Preprint |
| Published: |
2025
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| Subjects: | |
| Online Access: | https://arxiv.org/abs/2507.12787 |
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Table of Contents:
- With the continuous evolution of China's multi-level capital market, the National Equities Exchange and Quotations (NEEQ), also known as the "New Third Board," has become a critical financing platform for small and medium-sized enterprises (SMEs). However, due to their limited scale and financial resilience, many NEEQ-listed companies face elevated risks of financial distress. To address this issue, we propose a multi-channel deep learning framework that integrates structured financial indicators, textual disclosures, and enterprise relationship data for comprehensive financial risk prediction. Specifically, we design a Triple-Channel Graph Isomorphism Network (GIN) that processes numeric, textual, and graph-based inputs separately. These modality-specific representations are fused using an attention-based mechanism followed by a gating unit to enhance robustness and prediction accuracy. Experimental results on data from 7,731 real-world NEEQ companies demonstrate that our model significantly outperforms traditional machine learning methods and single-modality baselines in terms of AUC, Precision, Recall, and F1 Score. This work provides theoretical and practical insights into risk modeling for SMEs and offers a data-driven tool to support financial regulators and investors.