diff --git a/app.py b/app.py
index 1b8cbba..344a53d 100644
--- a/app.py
+++ b/app.py
@@ -543,7 +543,8 @@ def sync_ths_token():
     set_ths_refresh_token(get_setting("ths_refresh_token"))
 
 
-sync_ths_token()
+if os.getenv("QIHUO_INIT_ONLY") != "1":
+    sync_ths_token()
 
 
 def build_market_quote_payload(
@@ -2224,20 +2225,19 @@ def settings():
     )
 
 
-install_trading(
-    app,
-    login_required=login_required,
-    require_nav=require_nav,
-    get_db=get_db,
-    get_setting=get_setting,
-    set_setting=set_setting,
-    fetch_price=fetch_price,
-    send_wechat_msg=send_wechat_msg,
-)
-
-try_init_vnpy({})
-
-start_background_threads()
+if os.getenv("QIHUO_INIT_ONLY") != "1":
+    install_trading(
+        app,
+        login_required=login_required,
+        require_nav=require_nav,
+        get_db=get_db,
+        get_setting=get_setting,
+        set_setting=set_setting,
+        fetch_price=fetch_price,
+        send_wechat_msg=send_wechat_msg,
+    )
+    try_init_vnpy({})
+    start_background_threads()
 
 # —————————————— 启动 ——————————————
 
diff --git a/scripts/deploy_postgres.sh b/scripts/deploy_postgres.sh
index 93db2e5..c2a0651 100644
--- a/scripts/deploy_postgres.sh
+++ b/scripts/deploy_postgres.sh
@@ -79,8 +79,9 @@ echo "==> 初始化 PostgreSQL 表结构..."
 cd "$APP_DIR"
 export DATABASE_URL
 export QIHUO_SKIP_INIT_DB=1
+export QIHUO_INIT_ONLY=1
 python3 -c "from app import init_db; init_db(); from db_conn import database_label; print('OK:', database_label())"
-unset QIHUO_SKIP_INIT_DB
+unset QIHUO_SKIP_INIT_DB QIHUO_INIT_ONLY
 
 if [ "$MIGRATE_SQLITE" = "1" ] && [ -f "$APP_DIR/futures.db" ]; then
   echo "==> 从 SQLite 迁移数据..."