{
 "as_of": "2026-11-06",
 "cmr": "de-cm-kg/XETRA/S188",
 "fence": "The page is the record's research on the issuer — no analyst, no rating, no view.",
 "markdown": "The page is the record's research on the issuer — no analyst, no rating, no view.\n\n# SMT SCHARF AG NA O.N. (Xetra: S188) — research page\n\nAs of 2026-11-06 · de-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is SMT SCHARF AG NA O.N., listed on Xetra under ticker S188, with ISIN DE000A3DRAE2 and LEI 529900TCSTU65K7JHJ28. Its security type is Corporate and its segment is DEUTSCHLAND. The sector is not on the record, because the Xetra instruments file carries index membership and not a sector classification. Its jurisdiction is Germany (Handelsregister HRB). The issuer is listed and not halted.\n\n## The disclosure read\n\nThe record holds 13 filings in the window from 2025-11-06 to 2026-11-06, across 7 filing days. Of these, 3 are ad hoc filings and 10 are corporate news. The median gap between filing days is 20.0 days. The record date is 2026-11-06, and the latest filing is dated 2026-10-30, 7 days before the record date; its type is corporate news. The Xetra peer medians are 419 issuers, a median cadence gap of 22.8 days, a median of 6 filings, and a median latency of 5.5 days. The sector peer median is not on the record for the DE market.\n\n## Auditor\n\nThe auditor of record is not on the record. The record carries the annual report link only, as a source link and not a read. The auditor's location is not on the record, and auditor changes are not on the record.\n\n## Events and halts\n\nThe listing, delisting, name change, domicile change and segment move lines are not on the record, because this register has no lifecycle type map yet. The issuer is listed and not halted.\n\n## Orderability\n\nThe outcome is ACM-200 for Professionelle Kunden, Privatkunden and Geeignete Gegenparteien, and each outcome is determinable. The rule version is acm-68000/de/mifid-ii-product-governance-produkt-berwachung/r1, and the chapter is as of 2026-11-04.\n\n## Coverage\n\nThe record holds 2 research houses named on the issuer's investor-relations page: Pareto Securities and Montega AG.\n\n## Open research\n\nThe record holds 1 openly published research note, from Pareto Securities dated 2025-08-24.\n\n## Licensed\n\nLicensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.\n\n## As-of depth\n\nThe vintage is not sealed. No issuer years are sealed, the market's earliest sealed date is not on the record, and the live record began is not on the record.\n\n## Sources\n\n9 source pages are named on this page; every value above carries its own source page and read date in the numbers.\n\n- https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (identity.exchange)\n- https://api.gleif.org/api/v1/lei-records/529900TCSTU65K7JHJ28 (identity.jurisdiction)\n- https://mapping.gleif.org/api/v2/isin-lei/latest/download (identity.lei)\n- https://mcp.de-cm-kg.ai/events/XETRA/S188 (the disclosure lines)\n- https://www.cashmarket.deutsche-boerse.com/cash-en/Stay-Informed/current-regulatory-topics/mifid-ii-releases/4086638!suspension-list (the halt flag)\n- https://mcp.de-cm-kg.ai/book/aio.json (the orderability chapter)\n- https://www.smtscharf.com/investorrelations/stock/analysten/?lang=en (coverage)\n- https://www.smtscharf.com/investorrelations/wp-content/uploads/2025/08/Pareto_Research_Update_250824.pdf (open research)\n- https://mcp.de-cm-kg.ai/record/XETRA/S188 (the record)\n",
 "market": "DE",
 "node": "de-cm-kg",
 "numbers": {
  "as_of_depth": {
   "issuer_years_sealed": [],
   "live_record_began": null,
   "node_history_from": null,
   "node_years_sealed": [],
   "note": "the DE vintage is not sealed; the record is the live record as of 2026-11-06",
   "record_version": 1,
   "sealed": false
  },
  "auditor": {
   "auditor": {
    "market": "DE",
    "reason": "Width 0 records the annual report link only (ORDER-015: source link, not a read)",
    "state": "not_on_record"
   },
   "auditor_firm_id": {
    "market": "DE",
    "state": "not_on_record"
   },
   "auditor_location": {
    "market": "DE",
    "state": "not_on_record"
   },
   "changes": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "cmr": "de-cm-kg/XETRA/S188",
  "coverage": {
   "count": 2,
   "houses": [
    {
     "analyst": "Zafer Rüzgar",
     "house": "Pareto Securities",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.smtscharf.com/investorrelations/stock/analysten/?lang=en",
     "state": "sourced"
    },
    {
     "analyst": "Bastian Brach",
     "house": "Montega AG",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.smtscharf.com/investorrelations/stock/analysten/?lang=en",
     "state": "sourced"
    }
   ],
   "pages_checked": [
    {
     "page": "https://www.smtscharf.com/investorrelations/stock/analysten/?lang=en",
     "result": "read: 2 of 4 named houses found on the page"
    }
   ],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-12",
   "since": "not stated on the page read",
   "state": "found"
  },
  "disclosure": {
   "against": {
    "exchange": {
     "issuers": 419,
     "median_cadence_gap_days": 22.8,
     "median_filings": 6,
     "median_latency_days": 5.5,
     "name": "Xetra"
    },
    "sector": {
     "market": "DE",
     "state": "not_on_record"
    }
   },
   "by_type": {
    "ad_hoc": 3,
    "corporate_news": 10
   },
   "cadence_median_gap_days": 20,
   "filing_days": 7,
   "filings": 13,
   "latency_days": 7,
   "latest": [
    {
     "category": "research-channel",
     "date": "2026-10-30",
     "source": "https://www.eqs-news.com/news/research-channel/original-research-smt-scharf-ag-von-montega-ag-halten/ae78523d-0b00-47e1-baaa-525546b4fba9_de",
     "title": "Original-Research: SMT Scharf AG (von Montega AG): Halten",
     "type": "corporate_news"
    },
    {
     "category": "corporate",
     "date": "2026-10-29",
     "source": "https://www.eqs-news.com/news/corporate/smt-scharf-ag-publishes-third-quarter-2026-results/4fff87b4-d7d9-420c-be58-0fe5fe61df92_en",
     "title": "SMT Scharf AG publishes third-quarter 2026 results  | Corporate - EQS News",
     "type": "corporate_news"
    },
    {
     "category": "corporate",
     "date": "2026-10-29",
     "source": "https://www.eqs-news.com/de/news/corporate/smt-scharf-ag-veroeffentlicht-ergebnisse-zum-dritten-quartal-2026/4fff87b4-d7d9-420c-be58-0fe5fe61df92_de",
     "title": "SMT Scharf AG veröffentlicht Ergebnisse zum dritten ...",
     "type": "corporate_news"
    },
    {
     "category": "corporate",
     "date": "2026-10-29",
     "source": "https://www.eqs-news.com/de/news/corporate/smt-scharf-ag-passt-prognose-fuer-das-geschaeftsjahr-2026-an-und-treibt-strategische-initiativen-konsequent-voran/9bb118f6-b16c-4719-bb02-03deb1052903_de",
     "title": "SMT Scharf AG passt Prognose für das Geschäftsjahr 2026 ...",
     "type": "corporate_news"
    },
    {
     "category": "insiderinformationen-ad-hoc-mitteilung",
     "date": "2026-10-28",
     "source": "https://www.eqs-news.com/news/insiderinformationen-ad-hoc-mitteilung/smt-scharf-ag-veroeffentlichung-vorlaeufiger-ergebnisse-fuer-die-ersten-neun-monate-2026-und-anpassung-der-umsatz-und-ergebnisprognose-fuer-das-geschaeftsjahr-2026/dd0203f6-56c1-4708-a17b-1d8e398947cd_de",
     "title": "SMT Scharf AG: Veröffentlichung vorläufiger Ergebnisse für ...",
     "type": "corporate_news"
    }
   ],
   "latest_filing_date": "2026-10-30",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.de-cm-kg.ai/events/XETRA/S188",
   "window": {
    "from": "2025-11-06",
    "to": "2026-11-06"
   }
  },
  "identity": {
   "exchange": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "Xetra"
   },
   "isin": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "confirmed",
    "value": "DE000A3DRAE2"
   },
   "jurisdiction": {
    "read_by": "GLEIF LEI record (LEI per the LEI column) (registeredAs)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://api.gleif.org/api/v1/lei-records/529900TCSTU65K7JHJ28",
    "state": "sourced",
    "value": "Germany (Handelsregister HRB)"
   },
   "lei": {
    "read_by": "GLEIF ISIN-to-LEI mapping file (daily), LEI by exact ISIN",
    "read_date": "2026-11-09",
    "read_date_basis": "the field",
    "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download (ISIN DE000A3DRAE2)",
    "state": "sourced",
    "value": "529900TCSTU65K7JHJ28"
   },
   "name": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "SMT SCHARF AG NA O.N."
   },
   "sector": {
    "market": "DE",
    "reason": "the Xetra instruments file carries index membership, not a sector classification",
    "state": "not_on_record"
   },
   "security_type": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "Corporate"
   },
   "segment": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "DEUTSCHLAND"
   },
   "ticker": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "S188"
   },
   "website": {
    "market": "DE",
    "state": "not_on_record"
   }
  },
  "licensed": {
   "columns": [
    "licensor",
    "entitlement",
    "title",
    "date",
    "source"
   ],
   "rows": [],
   "rule": "A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded."
  },
  "lifecycle": {
   "delisting": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "domicile_change": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "listing": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "name_change": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "segment_move": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "market": "DE",
  "node": "de-cm-kg",
  "numbers_hash": "sha256:4d8a37474d7f565eb67e2469166a23ad14f081298c69b067c8fad9d871ad8e29",
  "open_research": {
   "read_date": "2026-11-12",
   "rows": [
    {
     "date": "2025-08-24",
     "kind": "issuer-sponsored",
     "publisher": "Pareto Securities",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://www.smtscharf.com/investorrelations/wp-content/uploads/2025/08/Pareto_Research_Update_250824.pdf",
     "state": "sourced",
     "title": "Q2 – guidance cut on weak orders"
    }
   ],
   "state": "found"
  },
  "orderability": {
   "chapter_as_of": "2026-11-04",
   "client_categories": [
    "Professionelle Kunden",
    "Privatkunden",
    "Geeignete Gegenparteien"
   ],
   "outcomes": {
    "Geeignete Gegenparteien": {
     "determinable": true,
     "signal": "ACM-200"
    },
    "Privatkunden": {
     "determinable": true,
     "signal": "ACM-200"
    },
    "Professionelle Kunden": {
     "determinable": true,
     "signal": "ACM-200"
    }
   },
   "read": {
    "basis": "one live read per instrument class, halt state and client category on this market; this issuer's group",
    "chapter": "https://mcp.de-cm-kg.ai/book/aio.json",
    "door": "https://mcp.de-cm-kg.ai/mcp",
    "tool": "get_orderability"
   },
   "rule_version": "acm-68000/de/mifid-ii-product-governance-produkt-berwachung/r1",
   "section": "de.aio.v13"
  },
  "record": {
   "as_of": "2026-11-06",
   "url": "https://mcp.de-cm-kg.ai/record/XETRA/S188",
   "version": 1
  },
  "schema": "research-numbers v0.1 (USR-01, 2026-11-11)",
  "status": {
   "read_date": "2026-11-09",
   "source": "https://www.cashmarket.deutsche-boerse.com/cash-en/Stay-Informed/current-regulatory-topics/mifid-ii-releases/4086638!suspension-list",
   "value": "listed, not halted"
  }
 },
 "numbers_hash": "sha256:4d8a37474d7f565eb67e2469166a23ad14f081298c69b067c8fad9d871ad8e29",
 "path": "/de/XETRA/S188",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is SMT SCHARF AG NA O.N., listed on Xetra under ticker S188, with ISIN DE000A3DRAE2 and LEI 529900TCSTU65K7JHJ28. Its security type is Corporate and its segment is DEUTSCHLAND. The sector is not on the record, because the Xetra instruments file carries index membership and not a sector classification. Its jurisdiction is Germany (Handelsregister HRB). The issuer is listed and not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 13 filings in the window from 2025-11-06 to 2026-11-06, across 7 filing days. Of these, 3 are ad hoc filings and 10 are corporate news. The median gap between filing days is 20.0 days. The record date is 2026-11-06, and the latest filing is dated 2026-10-30, 7 days before the record date; its type is corporate news. The Xetra peer medians are 419 issuers, a median cadence gap of 22.8 days, a median of 6 filings, and a median latency of 5.5 days. The sector peer median is not on the record for the DE market.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor of record is not on the record. The record carries the annual report link only, as a source link and not a read. The auditor's location is not on the record, and auditor changes are not on the record.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "The listing, delisting, name change, domicile change and segment move lines are not on the record, because this register has no lifecycle type map yet. The issuer is listed and not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "The outcome is ACM-200 for Professionelle Kunden, Privatkunden and Geeignete Gegenparteien, and each outcome is determinable. The rule version is acm-68000/de/mifid-ii-product-governance-produkt-berwachung/r1, and the chapter is as of 2026-11-04.",
   "title": "Orderability"
  },
  {
   "id": "coverage",
   "text": "The record holds 2 research houses named on the issuer's investor-relations page: Pareto Securities and Montega AG.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "The record holds 1 openly published research note, from Pareto Securities dated 2025-08-24.",
   "title": "Open research"
  },
  {
   "id": "licensed",
   "text": "Licensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.",
   "title": "Licensed"
  },
  {
   "id": "depth",
   "text": "The vintage is not sealed. No issuer years are sealed, the market's earliest sealed date is not on the record, and the live record began is not on the record.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "9 source pages are named on this page; every value above carries its own source page and read date in the numbers.",
   "title": "Sources"
  }
 ],
 "sources": [
  {
   "for": "identity.exchange",
   "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares"
  },
  {
   "for": "identity.jurisdiction",
   "source": "https://api.gleif.org/api/v1/lei-records/529900TCSTU65K7JHJ28"
  },
  {
   "for": "identity.lei",
   "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download"
  },
  {
   "for": "the disclosure lines",
   "source": "https://mcp.de-cm-kg.ai/events/XETRA/S188"
  },
  {
   "for": "the halt flag",
   "source": "https://www.cashmarket.deutsche-boerse.com/cash-en/Stay-Informed/current-regulatory-topics/mifid-ii-releases/4086638!suspension-list"
  },
  {
   "for": "the orderability chapter",
   "source": "https://mcp.de-cm-kg.ai/book/aio.json"
  },
  {
   "for": "coverage",
   "source": "https://www.smtscharf.com/investorrelations/stock/analysten/?lang=en"
  },
  {
   "for": "open research",
   "source": "https://www.smtscharf.com/investorrelations/wp-content/uploads/2025/08/Pareto_Research_Update_250824.pdf"
  },
  {
   "for": "the record",
   "source": "https://mcp.de-cm-kg.ai/record/XETRA/S188"
  }
 ],
 "title": "SMT SCHARF AG NA O.N. (S188) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}