diff --git a/crates/fidc-core/src/risk_control.rs b/crates/fidc-core/src/risk_control.rs
index 8ab8990..6280a22 100644
--- a/crates/fidc-core/src/risk_control.rs
+++ b/crates/fidc-core/src/risk_control.rs
@@ -122,6 +122,17 @@ impl FidcRiskDecisionAudit {
         symbol: impl Into<String>,
         reason: impl Into<String>,
     ) -> Self {
+        let reason = reason.into();
+        Self::rejected_selection_with_rule(date, symbol, reason.clone(), reason)
+    }
+
+    pub fn rejected_selection_with_rule(
+        date: NaiveDate,
+        symbol: impl Into<String>,
+        rule_code: impl Into<String>,
+        reason: impl Into<String>,
+    ) -> Self {
+        let rule_code = rule_code.into();
         let reason = reason.into();
         Self {
             date,
@@ -129,7 +140,7 @@ impl FidcRiskDecisionAudit {
             scope: RiskCheckScope::Selection,
             stage: "selection".to_string(),
             accepted: false,
-            rule_code: reason.clone(),
+            rule_code,
             reason,
             config_version: Some("inline_risk_policy".to_string()),
             data_epoch: date.to_string(),
@@ -264,7 +275,22 @@ impl ChinaAShareRiskControl {
     ) -> Option<FidcRiskDecisionAudit> {
         Self::selection_rejection_reason_with_config(date, candidate, market, instrument, config)
             .map(|reason| {
-                FidcRiskDecisionAudit::rejected_selection(date, candidate.symbol.clone(), reason)
+                let detail = if reason == "missing_risk_state" {
+                    candidate
+                        .risk_level_code
+                        .as_deref()
+                        .map(str::trim)
+                        .filter(|value| value.starts_with("missing_risk_state"))
+                        .unwrap_or(reason)
+                } else {
+                    reason
+                };
+                FidcRiskDecisionAudit::rejected_selection_with_rule(
+                    date,
+                    candidate.symbol.clone(),
+                    reason,
+                    detail,
+                )
             })
     }
 
@@ -300,9 +326,6 @@ impl ChinaAShareRiskControl {
         {
             return Some(reason);
         }
-        if Self::missing_risk_state_rejected(candidate, config, scope) {
-            return Some("missing_risk_state");
-        }
         let reject_paused = match scope {
             RiskCheckScope::Selection => config.static_rules.reject_paused_selection,
             RiskCheckScope::Buy => config.static_rules.reject_paused_buy,
@@ -332,7 +355,7 @@ impl ChinaAShareRiskControl {
             RiskCheckScope::Buy => config.static_rules.reject_kcb_buy,
             RiskCheckScope::Sell => false,
         };
-        if reject_kcb && candidate.is_kcb {
+        if reject_kcb && (candidate.is_kcb || symbol_is_kcb(&candidate.symbol)) {
             return Some("kcb");
         }
         let reject_one_yuan = match scope {
@@ -343,6 +366,9 @@ impl ChinaAShareRiskControl {
         if reject_one_yuan && (candidate.is_one_yuan || market.day_open <= 1.0) {
             return Some("one_yuan");
         }
+        if Self::missing_risk_state_rejected(candidate, config, scope) {
+            return Some("missing_risk_state");
+        }
         None
     }
 
@@ -450,9 +476,6 @@ impl ChinaAShareRiskControl {
         ) {
             return Some(reason);
         }
-        if Self::missing_risk_state_rejected(candidate, config, RiskCheckScope::Sell) {
-            return Some("missing_risk_state");
-        }
         if config.static_rules.reject_paused_sell && (market.paused || candidate.is_paused) {
             return Some("paused");
         }
@@ -465,6 +488,9 @@ impl ChinaAShareRiskControl {
         {
             return Some("open at or below lower limit");
         }
+        if Self::missing_risk_state_rejected(candidate, config, RiskCheckScope::Sell) {
+            return Some("missing_risk_state");
+        }
         if position.is_some_and(|position| position.sellable_qty(date) == 0) {
             return Some("t+1 sellable quantity is zero");
         }
@@ -483,6 +509,11 @@ impl ChinaAShareRiskControl {
     }
 }
 
+fn symbol_is_kcb(symbol: &str) -> bool {
+    let normalized = symbol.trim().to_ascii_uppercase();
+    (normalized.starts_with("688") || normalized.starts_with("689")) && normalized.ends_with(".SH")
+}
+
 fn missing_risk_state_fields(code: &str) -> Vec<String> {
     let Some((_, fields)) = code.split_once(':') else {
         return Vec::new();
@@ -782,6 +813,27 @@ mod tests {
         assert_eq!(configured_reason, None);
     }
 
+    #[test]
+    fn concrete_kcb_reason_wins_over_generic_missing_risk_state() {
+        let date = d(2025, 1, 2);
+        let mut candidate = candidate(date);
+        candidate.symbol = "688506.SH".to_string();
+        candidate.risk_level_code = Some("missing_risk_state".to_string());
+        let market = market(date, 6.27, 5.63);
+
+        let decision = ChinaAShareRiskControl::selection_rejection_decision_with_config(
+            date,
+            &candidate,
+            &market,
+            None,
+            &FidcRiskControlConfig::default(),
+        )
+        .expect("kcb selection rejection");
+
+        assert_eq!(decision.rule_code, "kcb");
+        assert_eq!(decision.reason, "kcb");
+    }
+
     #[test]
     fn missing_risk_state_rejects_selection_and_buy_when_static_filters_enabled() {
         let date = d(2025, 1, 2);
@@ -807,6 +859,30 @@ mod tests {
         assert_eq!(sell_reason, None);
     }
 
+    #[test]
+    fn missing_risk_state_selection_audit_keeps_missing_fields_in_reason() {
+        let date = d(2025, 1, 2);
+        let mut candidate = candidate(date);
+        candidate.risk_level_code =
+            Some("missing_risk_state:is_st,allow_buy,upper_limit_price".to_string());
+        let market = market(date, 6.27, 5.63);
+
+        let decision = ChinaAShareRiskControl::selection_rejection_decision_with_config(
+            date,
+            &candidate,
+            &market,
+            None,
+            &FidcRiskControlConfig::default(),
+        )
+        .expect("missing risk state rejection");
+
+        assert_eq!(decision.rule_code, "missing_risk_state");
+        assert_eq!(
+            decision.reason,
+            "missing_risk_state:is_st,allow_buy,upper_limit_price"
+        );
+    }
+
     #[test]
     fn missing_risk_state_rejects_sell_when_sell_risk_facts_are_missing() {
         let date = d(2025, 1, 2);