diff --git a/apps/electron/package.json b/apps/electron/package.json
index 12a2e0b4e..3c303afdb 100644
--- a/apps/electron/package.json
+++ b/apps/electron/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@proma/electron",
-  "version": "0.17.39",
+  "version": "0.17.40",
   "description": "Proma next gen ai software with general agents - Electron App",
   "main": "dist/main.cjs",
   "author": {
diff --git a/apps/electron/src/renderer/components/ai-elements/file-path-chip.tsx b/apps/electron/src/renderer/components/ai-elements/file-path-chip.tsx
index db2ea6a2b..e88041243 100644
--- a/apps/electron/src/renderer/components/ai-elements/file-path-chip.tsx
+++ b/apps/electron/src/renderer/components/ai-elements/file-path-chip.tsx
@@ -264,6 +264,15 @@ export function isAbsoluteFilePath(text: string): boolean {
   return false
 }
 
+/**
+ * 判断 Markdown inline code 当前是否可以转换为文件 chip。
+ * 流式期间必须保留原始代码文本，等语法和内容稳定后再缩成 chip，避免视觉回退。
+ */
+export function shouldRenderFilePathChip(text: string, isStreaming: boolean, hasBasePaths: boolean): boolean {
+  if (isStreaming) return false
+  return isAbsoluteFilePath(text) || (hasBasePaths && isRelativeFilePath(text))
+}
+
 /**
  * 检测文本是否为相对文件路径（需要 basePath 才有意义）
  *
diff --git a/apps/electron/src/renderer/components/ai-elements/message.tsx b/apps/electron/src/renderer/components/ai-elements/message.tsx
index 9b25b9b6f..b7987907a 100644
--- a/apps/electron/src/renderer/components/ai-elements/message.tsx
+++ b/apps/electron/src/renderer/components/ai-elements/message.tsx
@@ -40,7 +40,7 @@ import {
 import { LoadingIndicator } from '@/components/ui/loading-indicator'
 import { CodeBlock, MermaidBlock } from '@proma/ui'
 import { detectLanguage } from '@proma/core'
-import { FilePathChip, isAbsoluteFilePath, isImageFilePath, isRelativeFilePath } from './file-path-chip'
+import { FilePathChip, isAbsoluteFilePath, isImageFilePath, isRelativeFilePath, shouldRenderFilePathChip } from './file-path-chip'
 import { buildAgentHistoryQuoteLabel, parseAgentHistoryQuoteMention } from '@/lib/quoted-selection'
 import { useAgentBrowserLink } from '@/components/browser/AgentBrowserLinkProvider'
 import type { HTMLAttributes, ComponentProps, ReactNode } from 'react'
@@ -543,6 +543,15 @@ const MarkdownLink = React.memo(function MarkdownLink({
   ...linkProps
 }: React.AnchorHTMLAttributes<HTMLAnchorElement>): React.ReactElement {
   const agentBrowserLink = useAgentBrowserLink()
+  const isStreamingMarkdown = React.useContext(MarkdownStreamingContext)
+  // 流式期间保持原始链接文本，避免闭合链接后立刻缩成更短的文件 chip。
+  if (isStreamingMarkdown && href) {
+    const mentionMatch = MENTION_URL_RE.exec(href)
+    const filePath = safeDecode(href)
+    if (mentionMatch || isAbsoluteFilePath(filePath)) {
+      return <span>{linkChildren}</span>
+    }
+  }
   // mention:// 协议 → 渲染为 MentionChip
   if (href) {
     const mentionMatch = MENTION_URL_RE.exec(href)
@@ -645,6 +654,7 @@ const MarkdownInlineCode = React.memo(function MarkdownInlineCode({
 }: React.HTMLAttributes<HTMLElement> & { basePath?: string; basePaths?: string[] }): React.ReactElement {
   // 兜底：从 context 读附加 basePaths（避免穿透 SDKMessageRenderer / ContentBlock 等中间层）
   const ctxBasePaths = React.useContext(BasePathsContext)
+  const isStreamingMarkdown = React.useContext(MarkdownStreamingContext)
   // 本轮「文件名 → 绝对路径」映射：命中时把内联裸文件名补全为绝对路径
   const turnFileMap = React.useContext(TurnFileMapContext)
   if (codeClassName) {
@@ -654,34 +664,39 @@ const MarkdownInlineCode = React.memo(function MarkdownInlineCode({
   const text = typeof codeChildren === 'string' ? codeChildren : ''
 
   if (text) {
-    // 合并 basePath（主 cwd）+ basePaths（props 或 context 提供的附加目录）作为候选
-    const merged: string[] = []
-    if (basePath) merged.push(basePath)
-    const allExtra = basePaths || ctxBasePaths
-    if (allExtra) {
-      for (const p of allExtra) {
-        if (p && !merged.includes(p)) merged.push(p)
+    // 流式期间不把 Markdown inline code 转换成文件 chip，避免同一段文本在
+    // 反引号闭合后由完整路径缩成文件名，造成视觉上的内容回退。
+    const hasBasePaths = Boolean(basePath || (basePaths || ctxBasePaths)?.some(Boolean))
+    if (shouldRenderFilePathChip(text, isStreamingMarkdown, hasBasePaths)) {
+      // 合并 basePath（主 cwd）+ basePaths（props 或 context 提供的附加目录）作为候选
+      const merged: string[] = []
+      if (basePath) merged.push(basePath)
+      const allExtra = basePaths || ctxBasePaths
+      if (allExtra) {
+        for (const p of allExtra) {
+          if (p && !merged.includes(p)) merged.push(p)
+        }
       }
-    }
-    if (isAbsoluteFilePath(text)) {
-      return <FilePathChip filePath={text.trim()} basePaths={merged.length > 0 ? merged : undefined} />
-    }
-    if (merged.length > 0 && isRelativeFilePath(text)) {
-      // 命中本轮实际触及文件的映射时，用绝对路径替换裸文件名（保留行号后缀），
-      // 使内联引用与 footer chip 走同一条可靠解析；未命中则维持原样降级。
-      const trimmed = text.trim()
-      if (turnFileMap && turnFileMap.size > 0) {
-        const lineColMatch = trimmed.match(/^(.+?)(:\d+(?::\d+)?)$/)
-        const hasLineCol = !!lineColMatch && !lineColMatch[1]!.endsWith(':')
-        const pathPart = hasLineCol ? lineColMatch![1]! : trimmed
-        const suffix = hasLineCol ? lineColMatch![2]! : ''
-        const baseName = pathPart.split(/[\\/]/).pop() || pathPart
-        const abs = turnFileMap.get(baseName)
-        if (abs) {
-          return <FilePathChip filePath={abs + suffix} basePaths={merged} />
+      if (isAbsoluteFilePath(text)) {
+        return <FilePathChip filePath={text.trim()} basePaths={merged.length > 0 ? merged : undefined} />
+      }
+      if (merged.length > 0 && isRelativeFilePath(text)) {
+        // 命中本轮实际触及文件的映射时，用绝对路径替换裸文件名（保留行号后缀），
+        // 使内联引用与 footer chip 走同一条可靠解析；未命中则维持原样降级。
+        const trimmed = text.trim()
+        if (turnFileMap && turnFileMap.size > 0) {
+          const lineColMatch = trimmed.match(/^(.+?)(:\d+(?::\d+)?)$/)
+          const hasLineCol = !!lineColMatch && !lineColMatch[1]!.endsWith(':')
+          const pathPart = hasLineCol ? lineColMatch![1]! : trimmed
+          const suffix = hasLineCol ? lineColMatch![2]! : ''
+          const baseName = pathPart.split(/[\\/]/).pop() || pathPart
+          const abs = turnFileMap.get(baseName)
+          if (abs) {
+            return <FilePathChip filePath={abs + suffix} basePaths={merged} />
+          }
         }
+        return <FilePathChip filePath={trimmed} basePaths={merged} />
       }
-      return <FilePathChip filePath={trimmed} basePaths={merged} />
     }
   }
 
diff --git a/apps/electron/src/renderer/components/chat/ChatMessages.tsx b/apps/electron/src/renderer/components/chat/ChatMessages.tsx
index 50396554b..578e11efe 100644
--- a/apps/electron/src/renderer/components/chat/ChatMessages.tsx
+++ b/apps/electron/src/renderer/components/chat/ChatMessages.tsx
@@ -26,6 +26,7 @@ import {
   MessageContent,
   MessageLoading,
   MessageResponse,
+  MarkdownStreamingContext,
   StreamingIndicator,
 } from '@/components/ai-elements/message'
 import {
@@ -343,6 +344,7 @@ export function ChatMessages({
         streaming={streaming}
         streamingContent={smoothContent}
         streamingReasoning={smoothReasoning}
+        markdownStreaming={streaming || smoothContent !== streamingContent}
         startedAt={startedAt}
         contextDividers={contextDividers}
         onDeleteDivider={onDeleteDivider}
@@ -429,7 +431,9 @@ export function ChatMessages({
                   {/* 流式内容（经过平滑处理） */}
                   {smoothContent ? (
                     <>
-                      <MessageResponse>{smoothContent}</MessageResponse>
+                      <MarkdownStreamingContext.Provider value={streaming || smoothContent !== streamingContent}>
+                        <MessageResponse>{smoothContent}</MessageResponse>
+                      </MarkdownStreamingContext.Provider>
                       {streaming && <StreamingIndicator />}
                     </>
                   ) : (
diff --git a/apps/electron/src/renderer/components/chat/ParallelChatMessages.tsx b/apps/electron/src/renderer/components/chat/ParallelChatMessages.tsx
index 78b0493c0..c535ad641 100644
--- a/apps/electron/src/renderer/components/chat/ParallelChatMessages.tsx
+++ b/apps/electron/src/renderer/components/chat/ParallelChatMessages.tsx
@@ -21,6 +21,7 @@ import {
   MessageContent,
   MessageLoading,
   MessageResponse,
+  MarkdownStreamingContext,
   StreamingIndicator,
 } from '@/components/ai-elements/message'
 import {
@@ -56,6 +57,8 @@ interface ParallelChatMessagesProps {
   onSubmitInlineEdit?: (message: ChatMessage, payload: InlineEditSubmitPayload) => Promise<void>
   onCancelInlineEdit?: () => void
   inlineEditingMessageId?: string | null
+  /** Markdown 解析是否仍处于流式排空阶段（与 UI streaming 状态分离） */
+  markdownStreaming?: boolean
   /** 是否正在加载更多历史消息 */
   loadingMore?: boolean
 }
@@ -139,6 +142,8 @@ interface MessageColumnProps {
   streaming?: boolean
   streamingContent?: string
   streamingReasoning?: string
+  /** Markdown 解析是否仍处于流式排空阶段 */
+  markdownStreaming?: boolean
   startedAt?: number
 }
 
@@ -157,6 +162,7 @@ function MessageColumn({
   streamingContent = '',
   streamingReasoning = '',
   startedAt,
+  markdownStreaming = streaming,
 }: MessageColumnProps): React.ReactElement {
   const streamingModel = useAtomValue(streamingModelAtom)
   const channels = useAtomValue(channelsAtom)
@@ -224,7 +230,9 @@ function MessageColumn({
               )}
               {streamingContent ? (
                 <>
-                  <MessageResponse>{streamingContent}</MessageResponse>
+                  <MarkdownStreamingContext.Provider value={markdownStreaming}>
+                    <MessageResponse>{streamingContent}</MessageResponse>
+                  </MarkdownStreamingContext.Provider>
                   {streaming && <StreamingIndicator />}
                 </>
               ) : (
@@ -254,6 +262,7 @@ export function ParallelChatMessages({
   onCancelInlineEdit,
   inlineEditingMessageId,
   loadingMore = false,
+  markdownStreaming = streaming,
 }: ParallelChatMessagesProps): React.ReactElement {
   // 分段消息
   const segments = useMemo(
@@ -326,6 +335,7 @@ export function ParallelChatMessages({
               streamingContent={streamingContent}
               streamingReasoning={streamingReasoning}
               startedAt={startedAt}
+              markdownStreaming={markdownStreaming}
             />
           </div>
         </div>
@@ -397,6 +407,7 @@ export function ParallelChatMessages({
                   streamingContent={index === segments.length - 1 ? streamingContent : ''}
                   streamingReasoning={index === segments.length - 1 ? streamingReasoning : ''}
                   startedAt={index === segments.length - 1 ? startedAt : undefined}
+                  markdownStreaming={index === segments.length - 1 ? markdownStreaming : false}
                 />
               </div>
             </div>