diff --git a/sanguo_factor/monthly_review.py b/sanguo_factor/monthly_review.py
index f39f8ca5..b1da255e 100644
--- a/sanguo_factor/monthly_review.py
+++ b/sanguo_factor/monthly_review.py
@@ -115,7 +115,9 @@ def build_report(registry: dict, current_points: dict[str, dict],
         # 一期、首跑全空——t/ic_mean/count 同源于当月评估批)
         point = {"month": month_key, "t": cur.get("t"),
                  "ic_mean": cur.get("ic_mean")}
-        if cur.get("t") is not None:
+        # 追加条件=t 或 ic_mean 任一非空(codex 复审 LOW:degenerate 月
+        # sd==0 时 t=None 但 IC 有效,只看 t 会漏出 factor_stats 一期)
+        if cur.get("t") is not None or cur.get("ic_mean") is not None:
             hist = [p for p in hist if p["month"] != month_key] + [point]
         monthly_points[name] = sorted(hist, key=lambda p: p["month"])
         if entry["status"] in ("promoted", "decaying"):
diff --git a/tests/factor/test_monthly_review.py b/tests/factor/test_monthly_review.py
index 23d1cc74..d967b4f8 100644
--- a/tests/factor/test_monthly_review.py
+++ b/tests/factor/test_monthly_review.py
@@ -321,3 +321,16 @@ def test_build_report_current_point_carries_ic_mean():
     assert s["icAll"] == 0.05          # 首跑单点即有弹药
     assert s["positiveRatio"] == 1.0
     assert s["tAll"] is None           # n=1 无合成 t,如实
+
+
+# —— codex 复审 LOW:degenerate 当月(t=None 但 IC 有效)不漏出 factor_stats ——
+def test_build_report_degenerate_current_point_kept():
+    """当月 sd==0 时 t=None 但 ic_mean 有效→当月点须进 monthly_points
+    与 factor_stats(追加条件=t 或 ic_mean 任一非空)."""
+    reg = {"factors": {"fa_x": {"name": "fa_x", "hypothesis": "h",
+                                "status": "assessable"}}}
+    rep = build_report(reg, {"fa_x": {"t": None, "ic_mean": 0.03, "count": 100}},
+                       history_points={}, as_of="2026-09-30", host="t")
+    assert rep["monthly_points"]["fa_x"] == [
+        {"month": "2026-09", "t": None, "ic_mean": 0.03}]
+    assert rep["factor_stats"]["fa_x"]["icAll"] == 0.03