diff --git a/sanguo_portfolio/providers/sanguo_fundamentals.py b/sanguo_portfolio/providers/sanguo_fundamentals.py
index 7e87b62..927f5be 100644
--- a/sanguo_portfolio/providers/sanguo_fundamentals.py
+++ b/sanguo_portfolio/providers/sanguo_fundamentals.py
@@ -163,15 +163,11 @@ class SanguoMiniQmtProvider(MiniQMTProvider):  # type: ignore[misc]
         qmt_stocks = [self._normalize_security_code(s) for s in stocks]
         try:
             if self.auto_download:
-                try:
-                    # 实证 signature: download_financial_data(stock_list, table_list=[])
-                    # trading hours Income/CashFlow 常超时,主拿 PershareIndex/Balance/Capital
-                    xt.download_financial_data(
-                        qmt_stocks,
-                        ["PershareIndex", "Balance", "Capital"],
-                    )
-                except Exception as exc:
-                    logger.debug("download_financial_data 失败(继续读缓存): %s", exc)
+                # download_financial_data 阻塞无超时,休市/服务不响应会卡死整个回测;
+                # 包 threading 超时,超时则跳过读缓存(数据可能不全但回测不卡死)
+                self._download_financial_safe(
+                    qmt_stocks, ["PershareIndex", "Balance", "Capital"]
+                )
             fin_data = xt.get_financial_data(qmt_stocks)
         except Exception as exc:
             logger.warning("get_financial_data 失败,返空表: %s", exc)
@@ -193,6 +189,35 @@ class SanguoMiniQmtProvider(MiniQMTProvider):  # type: ignore[misc]
             df = df.set_index("code", drop=False)
         return df
 
+    def _download_financial_safe(
+        self, qmt_stocks: List[str], tables: List[str], timeout: float = 120.0
+    ) -> None:
+        """download_financial_data 包 threading 超时。
+
+        xtdata.download_financial_data 阻塞且无超时参数,休市/服务不响应时卡死
+        整个回测。用线程 + join(timeout):超时则放弃(读缓存),daemon 线程随进程退出清理。
+        """
+        import threading
+        xt = self._ensure_xtdata()
+        err: List[str] = []
+
+        def _worker() -> None:
+            try:
+                xt.download_financial_data(qmt_stocks, tables)
+            except Exception as exc:
+                err.append(str(exc))
+
+        t = threading.Thread(target=_worker, daemon=True)
+        t.start()
+        t.join(timeout)
+        if t.is_alive():
+            logger.warning(
+                "download_financial_data 超时 %.0fs (%d 只),跳过读缓存",
+                timeout, len(qmt_stocks),
+            )
+        elif err:
+            logger.debug("download_financial_data 失败(继续读缓存): %s", err[0])
+
     # ------------------------ 内部组装 ------------------------
     def _build_row(
         self,