diff --git a/apps/backend/src/services/cost-center/cost-center-overview-service.ts b/apps/backend/src/services/cost-center/cost-center-overview-service.ts
index 3c8f58c4..afc47bf1 100644
--- a/apps/backend/src/services/cost-center/cost-center-overview-service.ts
+++ b/apps/backend/src/services/cost-center/cost-center-overview-service.ts
@@ -89,12 +89,11 @@ export async function getAdminCostCenterOverview(params: { scope?: string } = {}
         (
           SELECT COUNT(*)::int
           FROM cost_exceptions ce
+          JOIN order_items oi ON oi.id = ce.order_item_id
           WHERE ce.status = 'open'
             AND (
               $1::text IS NULL
-              OR ce.order_item_id IN (
-                SELECT oi.id FROM order_items oi WHERE COALESCE(oi.fulfillment_channel, CASE WHEN oi.fulfillment_status = 'archived' THEN 'archived' ELSE 'pending' END) = $1
-              )
+              OR COALESCE(oi.fulfillment_channel, CASE WHEN oi.fulfillment_status = 'archived' THEN 'archived' ELSE 'pending' END) = $1
             )
         ) AS open_exception_count,
         (
diff --git a/apps/backend/src/services/cost-center/cost-center.test.ts b/apps/backend/src/services/cost-center/cost-center.test.ts
index 56cdba0c..c65bbe97 100644
--- a/apps/backend/src/services/cost-center/cost-center.test.ts
+++ b/apps/backend/src/services/cost-center/cost-center.test.ts
@@ -298,6 +298,16 @@ test('人工客服筛选排除已有其他主渠道的旧 man 商品', () => {
   assert.ok(sql.includes('BTRIM(live_channel.internal_sku) = BTRIM(p.canonical_name)'))
 })
 
+test('成本中心总览异常统计必须走异常表关联，不能全表扫描订单项子查询', async () => {
+  const { readFile } = await import('node:fs/promises')
+  const source = await readFile(
+    new URL('./cost-center-overview-service.ts', import.meta.url),
+    'utf8',
+  )
+  assert.ok(source.includes('JOIN order_items oi ON oi.id = ce.order_item_id'))
+  assert.ok(!source.includes('ce.order_item_id IN ('))
+})
+
 test('tpv: 商品来源归为第三方卡券', async () => {
   const { productSourceOf } = await import('./cost-center-mappers.js')
   const assert = (await import('node:assert/strict')).default
diff --git a/apps/frontend/src/pages/admin/cost-center/CostCenterShell.tsx b/apps/frontend/src/pages/admin/cost-center/CostCenterShell.tsx
index 42edb0df..9981a5f3 100644
--- a/apps/frontend/src/pages/admin/cost-center/CostCenterShell.tsx
+++ b/apps/frontend/src/pages/admin/cost-center/CostCenterShell.tsx
@@ -22,7 +22,7 @@ import {
   Tag,
   Typography,
 } from 'antd'
-import { useQuery, useQueryClient } from '@tanstack/react-query'
+import { keepPreviousData, useIsFetching, useQuery, useQueryClient } from '@tanstack/react-query'
 import { useEffect } from 'react'
 
 import FinanceSubNav from '@/components/admin/FinanceSubNav'
@@ -97,6 +97,7 @@ export default function CostCenterShell() {
   const overviewQuery = useQuery({
     queryKey: ['admin-cost-center-overview', scope],
     queryFn: () => fetchAdminCostCenterOverview({ scope }),
+    placeholderData: keepPreviousData,
   })
   const optionsQuery = useQuery({
     queryKey: ['admin-cost-center-options'],
@@ -105,6 +106,9 @@ export default function CostCenterShell() {
 
   const overview = overviewQuery.data?.data
   const options = optionsQuery.data?.data
+  const costCenterFetching = useIsFetching({
+    predicate: (query) => String(query.queryKey[0] ?? '').startsWith('admin-cost-center'),
+  })
 
   function refreshAll() {
     // 按前缀失效：新增一个 admin-cost-center-* 查询不需要再回来改这里。
@@ -145,7 +149,7 @@ export default function CostCenterShell() {
             size="small"
             icon={<ReloadOutlined />}
             onClick={refreshAll}
-            loading={overviewQuery.isFetching}
+            loading={costCenterFetching > 0}
           >
             刷新
           </Button>
@@ -162,7 +166,7 @@ export default function CostCenterShell() {
           ].map(([label, value]) => (
             <Col xs={12} md={8} xl={4} key={label}>
               <Card>
-                <Statistic title={label} value={value as number} />
+                <Statistic title={label} value={overview ? (value as number) : '—'} />
               </Card>
             </Col>
           ))}
@@ -179,11 +183,13 @@ export default function CostCenterShell() {
                   <Space size={4}>
                     <span>{item.label}</span>
                     <Tag>
-                      {Number(
-                        item.key === 'all'
-                          ? (overview?.productTotalCount ?? overview?.productCount ?? 0)
-                          : (overview?.productSourceCounts?.[item.key] ?? 0),
-                      )}
+                      {overview
+                        ? Number(
+                            item.key === 'all'
+                              ? (overview.productTotalCount ?? overview.productCount ?? 0)
+                              : (overview.productSourceCounts?.[item.key] ?? 0),
+                          )
+                        : '—'}
                     </Tag>
                   </Space>
                 ),
diff --git a/apps/frontend/src/pages/admin/cost-center/ProductCatalogPanel.tsx b/apps/frontend/src/pages/admin/cost-center/ProductCatalogPanel.tsx
index 48ec4e32..af05be39 100644
--- a/apps/frontend/src/pages/admin/cost-center/ProductCatalogPanel.tsx
+++ b/apps/frontend/src/pages/admin/cost-center/ProductCatalogPanel.tsx
@@ -34,7 +34,7 @@ import {
 } from 'antd'
 import type { TableColumnsType } from 'antd'
 import PercentTable from '@/components/common/PercentTable'
-import { useQuery, useQueryClient } from '@tanstack/react-query'
+import { keepPreviousData, useQuery, useQueryClient } from '@tanstack/react-query'
 import { useEffect, useRef, useState } from 'react'
 import type { Dayjs } from 'dayjs'
 
@@ -152,6 +152,7 @@ export function ProductCatalogPanel() {
         page: productPage,
         pageSize: productPageSize,
       }),
+    placeholderData: keepPreviousData,
   })
 
   const products = productsQuery.data?.data.items || []
@@ -901,7 +902,7 @@ export function ProductCatalogPanel() {
           size="small"
           columns={productColumns}
           dataSource={products}
-          loading={productsQuery.isLoading}
+          loading={productsQuery.isFetching}
           rowClassName={(row) => (row.mappingCount > 0 ? 'product-rule-row-mapped' : '')}
           scroll={{ x: 1180 }}
           pagination={buildAdminTablePagination({