diff --git a/frontend/components/dashboard/scan-terminal/continent-grouping.ts b/frontend/components/dashboard/scan-terminal/continent-grouping.ts
new file mode 100644
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--- /dev/null
+++ b/frontend/components/dashboard/scan-terminal/continent-grouping.ts
@@ -0,0 +1,189 @@
+import type { ScanOpportunityRow } from "@/lib/dashboard-types";
+
+export const TRADING_REGIONS = [
+  { key: "east_asia", labelEn: "East Asia", labelZh: "东亚", sort: 1 },
+  { key: "southeast_asia", labelEn: "Southeast Asia", labelZh: "东南亚", sort: 2 },
+  { key: "central_asia", labelEn: "Central / South Asia", labelZh: "中亚 / 南亚", sort: 3 },
+  { key: "west_asia", labelEn: "West Asia / Middle East", labelZh: "西亚 / 中东", sort: 4 },
+  { key: "europe_africa", labelEn: "Europe / Africa", labelZh: "欧洲 / 非洲", sort: 5 },
+  { key: "south_america", labelEn: "Latin America", labelZh: "拉美", sort: 6 },
+  { key: "north_america", labelEn: "North America", labelZh: "北美", sort: 7 },
+] as const;
+
+export type TradingRegionKey = (typeof TRADING_REGIONS)[number]["key"];
+
+export interface ContinentGroup {
+  key: string;
+  labelEn: string;
+  labelZh: string;
+  sort: number;
+  rows: ScanOpportunityRow[];
+  activeCount: number;
+  watchCount: number;
+  hotCity: string | null;
+  localTimeRange: string | null;
+}
+
+export function isActiveSignal(row: ScanOpportunityRow): boolean {
+  const decision = String(row.ai_decision || row.v4_metar_decision || "").toLowerCase();
+  if (decision.includes("approve")) return true;
+  if (row.tradable && row.active) return true;
+  return false;
+}
+
+export function isWatchSignal(row: ScanOpportunityRow): boolean {
+  const decision = String(row.ai_decision || row.v4_metar_decision || row.signal_status || "").toLowerCase();
+  if (decision.includes("watch")) return true;
+  if (decision.includes("monitor")) return true;
+  if (!row.tradable && row.active) return true;
+  return false;
+}
+
+export function isDeadSignal(row: ScanOpportunityRow): boolean {
+  if (row.closed) return true;
+  const decision = String(row.ai_decision || row.v4_metar_decision || "").toLowerCase();
+  if (decision.includes("veto")) return true;
+  return false;
+}
+
+export function getSignalState(row: ScanOpportunityRow): "active" | "watch" | "closed" | "data" {
+  if (isDeadSignal(row)) return "closed";
+  if (isActiveSignal(row)) return "active";
+  if (isWatchSignal(row)) return "watch";
+  return "data";
+}
+
+export function getSignalLabel(state: ReturnType<typeof getSignalState>, isEn: boolean): string {
+  switch (state) {
+    case "active": return isEn ? "◆ Active" : "◆ 活跃";
+    case "watch": return isEn ? "● Watch" : "● 观察";
+    case "closed": return isEn ? "○ Closed" : "○ 关闭";
+    case "data": return isEn ? "! Data" : "! 数据";
+  }
+}
+
+export type GapColor = "green" | "orange" | "slate" | "gray" | "red";
+
+export function getGapColor(row: ScanOpportunityRow): GapColor {
+  const gap = Number(row.signed_gap ?? row.gap_to_target);
+  const edge = Number(row.edge_percent || 0);
+  const spread = Number(row.spread || 0);
+  const liq = Number(row.book_liquidity || row.market_liquidity || 0);
+
+  if (!Number.isFinite(gap)) return "gray";
+  if (liq <= 0 || spread > 20) return "red";
+  if (gap >= 2) return "green";
+  if (gap >= 0 && edge > 5) return "orange";
+  if (gap >= 0) return "slate";
+  if (gap < -5 || edge < -10) return "gray";
+  return "slate";
+}
+
+export const GAP_COLOR_MAP: Record<GapColor, string> = {
+  green: "text-emerald-600",
+  orange: "text-amber-600",
+  slate: "text-slate-500",
+  gray: "text-slate-400",
+  red: "text-red-500",
+};
+
+export function formatPrice(midpoint?: number | null, ask?: number | null, bid?: number | null): string {
+  const m = Number(midpoint);
+  if (Number.isFinite(m) && m > 0) {
+    const cents = Math.round(m * 100);
+    return `Y ${cents}¢`;
+  }
+  const a = Number(ask);
+  if (Number.isFinite(a) && a > 0) {
+    const cents = Math.round(a * 100);
+    return `Y ${cents}¢`;
+  }
+  return "--";
+}
+
+export function formatSpreadLiquidity(spread?: number | null, liquidity?: number | null): string {
+  const sp = Number(spread);
+  const liq = Number(liquidity);
+  const spStr = Number.isFinite(sp) ? `${Math.round(sp)}¢` : "--";
+  const liqStr = Number.isFinite(liq)
+    ? liq >= 1000
+      ? `$${(liq / 1000).toFixed(1)}K`
+      : `$${Math.round(liq)}`
+    : "--";
+  return `${spStr} / ${liqStr}`;
+}
+
+export function buildContinentGroups(rows: ScanOpportunityRow[], isEn: boolean): ContinentGroup[] {
+  const regionMap = new Map<string, ScanOpportunityRow[]>();
+
+  for (const row of rows) {
+    const region = String(row.trading_region || "unknown").toLowerCase();
+    if (!regionMap.has(region)) regionMap.set(region, []);
+    regionMap.get(region)!.push(row);
+  }
+
+  const groups: ContinentGroup[] = [];
+
+  // Active Signals virtual group
+  const activeRows = rows.filter((r) => isActiveSignal(r));
+  if (activeRows.length > 0) {
+    const hotRow = activeRows.reduce((best, r) =>
+      Number(r.edge_percent || 0) > Number(best.edge_percent || 0) ? r : best
+    );
+    groups.push({
+      key: "active_signals",
+      labelEn: "Active Signals",
+      labelZh: "活跃信号",
+      sort: 0,
+      rows: activeRows,
+      activeCount: activeRows.filter((r) => isActiveSignal(r)).length,
+      watchCount: activeRows.filter((r) => isWatchSignal(r)).length,
+      hotCity: hotRow?.city_display_name || hotRow?.city || null,
+      localTimeRange: null,
+    });
+  }
+
+  for (const region of TRADING_REGIONS) {
+    const regionRows = regionMap.get(region.key) || [];
+    if (regionRows.length === 0) continue;
+
+    const activeCount = regionRows.filter((r) => isActiveSignal(r)).length;
+    const watchCount = regionRows.filter((r) => isWatchSignal(r)).length;
+    const sorted = [...regionRows].sort((a, b) =>
+      Number(b.final_score || 0) - Number(a.final_score || 0)
+    );
+    const hotCity = sorted[0]?.city_display_name || sorted[0]?.city || null;
+
+    const times = regionRows.map((r) => String(r.local_time || "").trim()).filter(Boolean);
+    const ltRange = times.length >= 2
+      ? `${times[0]}-${times[times.length - 1]}`
+      : times[0] || null;
+
+    groups.push({
+      key: region.key,
+      labelEn: region.labelEn,
+      labelZh: region.labelZh,
+      sort: region.sort,
+      rows: regionRows,
+      activeCount,
+      watchCount,
+      hotCity,
+      localTimeRange: ltRange,
+    });
+  }
+
+  groups.sort((a, b) => a.sort - b.sort);
+  return groups;
+}
+
+export function getDefaultExpanded(groups: ContinentGroup[]): Set<string> {
+  const expanded = new Set<string>();
+  for (const g of groups) {
+    if (g.key === "active_signals") {
+      expanded.add(g.key);
+    } else if (g.activeCount > 0 || g.watchCount > 0) {
+      expanded.add(g.key);
+    }
+  }
+  return expanded;
+}