diff --git a/app/src/main/kotlin/top/yeij/cyrene/domain/admin/AdminFormat.kt b/app/src/main/kotlin/top/yeij/cyrene/domain/admin/AdminFormat.kt
index aa243f9..47788b0 100644
--- a/app/src/main/kotlin/top/yeij/cyrene/domain/admin/AdminFormat.kt
+++ b/app/src/main/kotlin/top/yeij/cyrene/domain/admin/AdminFormat.kt
@@ -2,6 +2,8 @@ package top.yeij.cyrene.domain.admin
 
 import kotlinx.serialization.json.JsonElement
 import kotlinx.serialization.json.JsonObject
+import top.yeij.cyrene.domain.parse.ContentPart
+import top.yeij.cyrene.domain.parse.parse
 import java.math.BigDecimal
 import java.math.RoundingMode
 import java.time.Instant
@@ -119,3 +121,31 @@ fun triStateLabel(value: Boolean?): String = when (value) {
 
 /** 空白字段的展示兜底：只处理「没有值」，不参与未知取值的回落。 */
 fun orDash(raw: String?): String = raw?.takeIf { it.isNotBlank() } ?: "-"
+
+/**
+ * 后台思考 `conclusion` 的一段：段内按渲染顺序排列的片段（正文 / 动作 / 旁白）。
+ * 段与段之间的间距由 UI 决定；段内片段顺序即原文顺序。
+ */
+data class ConclusionParagraph(val parts: List<ContentPart>)
+
+/**
+ * `conclusion` → 有序渲染模型，供 UI 逐段渲染。
+ *
+ * 该字段承载的是**与聊天消息同一套 Web 端 markup**（真实样本里有连写的空 `<p></p>`、
+ * `<action>` 等），所以这里**不新增任何 markup 规则**，一律委托 [parse]：
+ * 一个 `<p>` 块 = 一段，旁白/动作块依聊天页的归属规则挂在该段内，畸形标签按普通文本回落。
+ * 空段（`<p></p>` 连写产生的空白）不产出模型项——否则界面上会出现成片空行。
+ * 段内片段顺序取**渲染顺序**：`head` → 正文 → `tail`（与聊天页气泡上/下方旁白的排布一致）。
+ * `null` / 纯空白输入返回空列表。
+ */
+fun conclusionParagraphs(raw: String?): List<ConclusionParagraph> {
+    val text = raw?.takeIf { it.isNotBlank() } ?: return emptyList()
+    return parse(text).mapNotNull { bubble ->
+        val parts = buildList {
+            addAll(bubble.head)
+            if (bubble.body.isNotEmpty()) add(ContentPart.Text(bubble.body))
+            addAll(bubble.tail)
+        }
+        parts.takeIf { list -> list.any { it.text.isNotBlank() } }?.let(::ConclusionParagraph)
+    }
+}
diff --git a/app/src/main/kotlin/top/yeij/cyrene/ui/admin/AdminBackthinkScreen.kt b/app/src/main/kotlin/top/yeij/cyrene/ui/admin/AdminBackthinkScreen.kt
index 9f62118..1b9b8aa 100644
--- a/app/src/main/kotlin/top/yeij/cyrene/ui/admin/AdminBackthinkScreen.kt
+++ b/app/src/main/kotlin/top/yeij/cyrene/ui/admin/AdminBackthinkScreen.kt
@@ -10,17 +10,21 @@ import androidx.compose.runtime.Composable
 import androidx.compose.runtime.LaunchedEffect
 import androidx.compose.runtime.collectAsState
 import androidx.compose.runtime.getValue
+import androidx.compose.runtime.remember
 import androidx.compose.ui.Modifier
 import androidx.compose.ui.unit.dp
 import top.yeij.cyrene.data.api.dto.AdminBackthinkItemDto
 import top.yeij.cyrene.domain.admin.AdminPage
 import top.yeij.cyrene.domain.admin.AdminRole
+import top.yeij.cyrene.domain.admin.conclusionParagraphs
 import top.yeij.cyrene.domain.admin.formatEpochMillis
 import top.yeij.cyrene.domain.admin.orDash
 
 /**
  * 后台思考页：`GET /api/v1/admin/backthink`（**仅 `owner`/`admin`**）。
  * `at` 是 **Unix 毫秒**，与 trace 的 RFC3339 不同源，用 [formatEpochMillis] 单独解析。
+ * `conclusion` 是**与聊天消息同一套 Web 端 markup**的原文（真实样本里有连写的空 `<p></p>` 与
+ * `<action>`），因此不直接上屏：先经 [conclusionParagraphs] 解析成渲染模型，再逐段渲染。
  */
 @Composable
 fun AdminBackthinkScreen(viewModel: AdminViewModel, role: AdminRole, onBack: () -> Unit) {
@@ -54,14 +58,15 @@ fun AdminBackthinkScreen(viewModel: AdminViewModel, role: AdminRole, onBack: ()
 
 @Composable
 private fun BackthinkCard(record: AdminBackthinkItemDto) {
-    AdminTextCard(
+    val paragraphs = remember(record.conclusion) { conclusionParagraphs(record.conclusion) }
+    AdminRichTextCard(
         title = orDash(record.trigger),
-        body = backthinkBody(record),
+        paragraphs = paragraphs,
+        notice = backthinkNotice(record),
         trailing = if (record.at > 0) formatEpochMillis(record.at) else "-",
     )
 }
 
-private fun backthinkBody(record: AdminBackthinkItemDto): String = buildList {
-    record.conclusion?.takeIf { it.isNotBlank() }?.let { add(it) }
-    add("通知 ${if (record.shouldNotify) "需推送" else "不推送"} · ${if (record.pushed) "已送达" else "未送达"}")
-}.joinToString("\n")
+/** 结尾的推送状态行；与 `conclusion` 正文分开渲染，不参与 markup 解析。 */
+private fun backthinkNotice(record: AdminBackthinkItemDto): String =
+    "通知 ${if (record.shouldNotify) "需推送" else "不推送"} · ${if (record.pushed) "已送达" else "未送达"}"
diff --git a/app/src/main/kotlin/top/yeij/cyrene/ui/admin/AdminCommon.kt b/app/src/main/kotlin/top/yeij/cyrene/ui/admin/AdminCommon.kt
index 6705afd..a715253 100644
--- a/app/src/main/kotlin/top/yeij/cyrene/ui/admin/AdminCommon.kt
+++ b/app/src/main/kotlin/top/yeij/cyrene/ui/admin/AdminCommon.kt
@@ -11,12 +11,19 @@ import androidx.compose.foundation.layout.height
 import androidx.compose.foundation.layout.padding
 import androidx.compose.foundation.layout.widthIn
 import androidx.compose.runtime.Composable
+import androidx.compose.runtime.remember
 import androidx.compose.ui.Alignment
 import androidx.compose.ui.Modifier
 import androidx.compose.ui.graphics.Color
+import androidx.compose.ui.text.SpanStyle
+import androidx.compose.ui.text.buildAnnotatedString
+import androidx.compose.ui.text.font.FontStyle
 import androidx.compose.ui.text.style.TextOverflow
+import androidx.compose.ui.text.withStyle
 import androidx.compose.ui.unit.dp
 import top.yeij.cyrene.domain.admin.AdminFailure
+import top.yeij.cyrene.domain.admin.ConclusionParagraph
+import top.yeij.cyrene.domain.parse.ContentPart
 import top.yeij.cyrene.ui.common.PreferenceCard
 import top.yukonga.miuix.kmp.basic.BasicComponent
 import top.yukonga.miuix.kmp.basic.HorizontalDivider
@@ -195,6 +202,24 @@ fun AdminMetricCard(rows: List<Pair<String, String>>) {
     }
 }
 
+/** 卡片首行：左标题 + 右尾注（长尾注省略）。两种文本卡共用，外观一致。 */
+@Composable
+private fun AdminCardHeader(title: String, trailing: String?, trailingColor: Color?) {
+    Row(verticalAlignment = Alignment.CenterVertically) {
+        Text(title, style = MiuixTheme.textStyles.main, modifier = Modifier.weight(1f))
+        if (trailing != null) {
+            Text(
+                text = trailing,
+                modifier = Modifier.widthIn(max = 160.dp),
+                maxLines = 1,
+                overflow = TextOverflow.Ellipsis,
+                style = MiuixTheme.textStyles.footnote1,
+                color = trailingColor ?: MiuixTheme.colorScheme.onSurfaceVariantSummary,
+            )
+        }
+    }
+}
+
 /** 管理与详情页里的普通文本块（长文本用：[PreferenceCard] 里一行标题 + 正文）。 */
 @Composable
 fun AdminTextCard(
@@ -205,19 +230,7 @@ fun AdminTextCard(
 ) {
     PreferenceCard {
         Column(modifier = Modifier.padding(horizontal = 16.dp, vertical = 12.dp)) {
-            Row(verticalAlignment = Alignment.CenterVertically) {
-                Text(title, style = MiuixTheme.textStyles.main, modifier = Modifier.weight(1f))
-                if (trailing != null) {
-                    Text(
-                        text = trailing,
-                        modifier = Modifier.widthIn(max = 160.dp),
-                        maxLines = 1,
-                        overflow = TextOverflow.Ellipsis,
-                        style = MiuixTheme.textStyles.footnote1,
-                        color = trailingColor ?: MiuixTheme.colorScheme.onSurfaceVariantSummary,
-                    )
-                }
-            }
+            AdminCardHeader(title, trailing, trailingColor)
             if (body.isNotBlank()) {
                 Spacer(Modifier.height(4.dp))
                 Text(
@@ -229,3 +242,65 @@ fun AdminTextCard(
         }
     }
 }
+
+/**
+ * 承载 **Web 端 markup 原文**的文本块：正文来自 [ConclusionParagraph] 渲染模型，逐段渲染。
+ * 段与段之间用间距分隔（正文里不再出现拼接的 `\n`）；段内片段按原文顺序同行排列，
+ * 正文用卡片正文色，动作/旁白（`Action` / `Narration`）按聊天页的约定渲染成**灰斜体**
+ * （见 `ui/chat/MessageBubble.kt` 的旁白行）。[notice] 是挂在段落下方的次要一行（灰、小字）。
+ */
+@Composable
+fun AdminRichTextCard(
+    title: String,
+    paragraphs: List<ConclusionParagraph>,
+    notice: String? = null,
+    trailing: String? = null,
+    trailingColor: Color? = null,
+) {
+    PreferenceCard {
+        Column(modifier = Modifier.padding(horizontal = 16.dp, vertical = 12.dp)) {
+            AdminCardHeader(title, trailing, trailingColor)
+            paragraphs.forEachIndexed { index, paragraph ->
+                if (index == 0) Spacer(Modifier.height(4.dp)) else Spacer(Modifier.height(8.dp))
+                ParagraphLine(paragraph)
+            }
+            if (!notice.isNullOrBlank()) {
+                Spacer(Modifier.height(if (paragraphs.isEmpty()) 4.dp else 8.dp))
+                Text(
+                    text = notice,
+                    style = MiuixTheme.textStyles.footnote1,
+                    color = MiuixTheme.colorScheme.onSurfaceVariantSummary,
+                )
+            }
+        }
+    }
+}
+
+/** 一段：片段同行渲染，正文正常色，动作/旁白灰斜体；片段之间按需补一个空格。 */
+@Composable
+private fun ParagraphLine(paragraph: ConclusionParagraph) {
+    val narrationColor = MiuixTheme.colorScheme.onSurfaceVariantSummary
+    val line = remember(paragraph, narrationColor) {
+        buildAnnotatedString {
+            paragraph.parts.forEachIndexed { index, part ->
+                if (index > 0 && needsSpace(paragraph.parts[index - 1].text, part.text)) append(' ')
+                when (part) {
+                    is ContentPart.Text -> append(part.text)
+                    is ContentPart.Action, is ContentPart.Narration -> withStyle(
+                        SpanStyle(color = narrationColor, fontStyle = FontStyle.Italic),
+                    ) { append(part.text) }
+                }
+            }
+        }
+    }
+    Text(
+        text = line,
+        style = MiuixTheme.textStyles.footnote1,
+        color = MiuixTheme.colorScheme.onSurfaceContainer,
+    )
+}
+
+/** 相邻片段要不要补空格：两边都没自带空白时才补，别在换行前留出多余空格。 */
+private fun needsSpace(previous: String, next: String): Boolean =
+    previous.isNotEmpty() && next.isNotEmpty() &&
+        !previous.last().isWhitespace() && !next.first().isWhitespace()
diff --git a/app/src/test/kotlin/top/yeij/cyrene/domain/admin/AdminFormatTest.kt b/app/src/test/kotlin/top/yeij/cyrene/domain/admin/AdminFormatTest.kt
index b18eddc..ecc40d9 100644
--- a/app/src/test/kotlin/top/yeij/cyrene/domain/admin/AdminFormatTest.kt
+++ b/app/src/test/kotlin/top/yeij/cyrene/domain/admin/AdminFormatTest.kt
@@ -6,9 +6,10 @@ import org.junit.Assert.assertEquals
 import org.junit.Assert.assertNull
 import org.junit.Assert.assertTrue
 import org.junit.Test
+import top.yeij.cyrene.domain.parse.ContentPart
 
 /**
- * 两种时间形状 + 未知枚举回落 + 三态展示。
+ * 两种时间形状 + 未知枚举回落 + 三态展示 + `conclusion` markup → 渲染模型。
  *
  * 时间断言刻意不做时区假设：只比较**同一时刻的两种写法**是否归一，以及是否落成
  * `yyyy-MM-dd HH:mm:ss` 形态，因此在任何时区的机器上都成立。
@@ -121,4 +122,134 @@ class AdminFormatTest {
         assertNull(formatProps(emptyMap()))
         assertNull(formatProps(null))
     }
+
+    // ------------------------------------------------------------------
+    // conclusion → 渲染模型（`GET /api/v1/admin/backthink` 的原始 markup）
+    // 下面每条 fixture 都是从真实响应里原样抄下来的 conclusion，不是编造的样例。
+    // ------------------------------------------------------------------
+
+    @Test
+    fun `conclusion wraps each paragraph tag into its own paragraph`() {
+        val paragraphs = conclusionParagraphs(
+            "<p></p><p></p><p>亲爱的，假期已经过到第四天啦♪</p>" +
+                "<p>这会儿正是中午，别又只顾着看星星看忘了吃饭哦——人家隔着屏幕都替你饿了呢。</p>",
+        )
+
+        assertEquals(2, paragraphs.size)
+        assertEquals(
+            listOf(ContentPart.Text("亲爱的，假期已经过到第四天啦♪")),
+            paragraphs[0].parts,
+        )
+        assertEquals(
+            listOf(ContentPart.Text("这会儿正是中午，别又只顾着看星星看忘了吃饭哦——人家隔着屏幕都替你饿了呢。")),
+            paragraphs[1].parts,
+        )
+        assertNoMarkupSurvives(paragraphs)
+    }
+
+    @Test
+    fun `conclusion renders action tags as action parts`() {
+        val paragraphs = conclusionParagraphs(
+            "<p>亲爱的，国庆都第三天啦——假期过得还满意吗？♪</p>\n" +
+                "<p>要是这几天都窝着没出门，人家可有点小小的不甘心哦<action>轻轻戳了戳你</action></p>",
+        )
+
+        assertEquals(2, paragraphs.size)
+        assertEquals(
+            listOf(ContentPart.Text("亲爱的，国庆都第三天啦——假期过得还满意吗？♪")),
+            paragraphs[0].parts,
+        )
+        assertEquals(
+            listOf(
+                ContentPart.Text("要是这几天都窝着没出门，人家可有点小小的不甘心哦"),
+                ContentPart.Action("轻轻戳了戳你"),
+            ),
+            paragraphs[1].parts,
+        )
+        assertNoMarkupSurvives(paragraphs)
+    }
+
+    @Test
+    fun `conclusion holding only an action keeps it as a single narration paragraph`() {
+        val paragraphs = conclusionParagraphs("<action>转头去查看时间</action>")
+
+        assertEquals(1, paragraphs.size)
+        assertEquals(listOf(ContentPart.Action("转头去查看时间")), paragraphs[0].parts)
+        assertNoMarkupSurvives(paragraphs)
+    }
+
+    @Test
+    fun `conclusion carrying a leading action keeps text and action in source order`() {
+        val paragraphs = conclusionParagraphs(
+            "<action>静静想了一下昨晚她熬夜的样子</action>\n" +
+                "昨晚熬到那么晚，今早又这么早起……亲爱的，别忘了吃点东西再出门呀♪",
+        )
+
+        assertEquals(1, paragraphs.size)
+        assertEquals(
+            listOf(
+                ContentPart.Action("静静想了一下昨晚她熬夜的样子"),
+                ContentPart.Text("昨晚熬到那么晚，今早又这么早起……亲爱的，别忘了吃点东西再出门呀♪"),
+            ),
+            paragraphs[0].parts,
+        )
+        assertNoMarkupSurvives(paragraphs)
+    }
+
+    @Test
+    fun `plain text conclusion passes through verbatim, newlines kept in one paragraph`() {
+        val paragraphs = conclusionParagraphs(
+            "我回来啦，亲爱的♪\n国庆第三天了呢——这次可别再熬夜啦，人家陪着你的哦。\n待会见✨",
+        )
+
+        assertEquals(1, paragraphs.size)
+        assertEquals(
+            listOf(ContentPart.Text("我回来啦，亲爱的♪\n国庆第三天了呢——这次可别再熬夜啦，人家陪着你的哦。\n待会见✨")),
+            paragraphs[0].parts,
+        )
+        assertNoMarkupSurvives(paragraphs)
+    }
+
+    @Test
+    fun `empty or missing conclusion yields no paragraphs`() {
+        assertTrue(conclusionParagraphs(null).isEmpty())
+        assertTrue(conclusionParagraphs("").isEmpty())
+        assertTrue(conclusionParagraphs("   ").isEmpty())
+        // 整条只有空 <p> 的极端样本同样不产出空段
+        assertTrue(conclusionParagraphs("<p></p><p></p>").isEmpty())
+    }
+
+    @Test
+    fun `conclusion paragraphs are never blank and never carry markup`() {
+        val samples = listOf(
+            "<p></p><p></p><p>亲爱的，假期已经过到第四天啦♪</p>",
+            "<p>亲爱的，这会儿快到饭点啦，别又拿红牛对付一顿哦——记得好好吃口热的♪</p>",
+            "<p>亲爱的，国庆都第三天了，人家数了数——你好像一天都没真正闲下来过呢♪</p>\n" +
+                "<p>明天要不要留一点空白给自己？哪怕只是窝着看会儿星星，人家陪你。</p>",
+            "无",
+            "<action>转头去查看时间</action>",
+        )
+        samples.forEach { sample ->
+            val paragraphs = conclusionParagraphs(sample)
+            assertTrue(sample, paragraphs.isNotEmpty())
+            paragraphs.forEach { paragraph ->
+                assertTrue(sample, paragraph.parts.any { it.text.isNotBlank() })
+                paragraph.parts.forEach { part ->
+                    assertTrue(sample, part.text.isNotBlank())
+                }
+            }
+            assertNoMarkupSurvives(paragraphs)
+        }
+    }
+
+    /** 渲染模型里不得残留任何 markup 字符，否则界面上就会出现字面量的 `<p>` / `<action>`。 */
+    private fun assertNoMarkupSurvives(paragraphs: List<ConclusionParagraph>) {
+        val rendered = paragraphs.joinToString("\n") { paragraph ->
+            paragraph.parts.joinToString("") { it.text }
+        }
+        assertTrue("模型为空，断言会空过：$rendered", paragraphs.isNotEmpty())
+        listOf("<p>", "</p>", "<action>", "</action>", "<", ">").forEach { token ->
+            assertTrue("残留 markup $token：$rendered", !rendered.contains(token))
+        }
+    }
 }