Research on systemic risk contagion of Chinese financial institutions based on GARCH-VMD-Copula-CoVaR model

With the development of China’s financial market, the risk contagion effect among financial institutions is increasing and becoming more complicated. Few literatures have explored the risk transmission paths of Chinese financial institutions at different frequencies. In order to make up for the gaps in this research field, variable mode decomposition (VMD) technology is introduced in this paper, combined with the Copula-GARCH model to construct the GARCH-VMD-Copula-CoVaR model, which describes the risk contagion paths of major financial institutions in the Chinese financial market at different frequencies (long-term, medium-term and short-term). The research results show that risk dependence and contagion between financial institutions have the characteristics of bidirectionality, asymmetry and time-varying in all frequency studies, and there are differences in different frequencies

Laminated Ti-Al composites: Processing, structure and strength

Laminated Ti-Al composite sheets with different layer thickness ratios have been fabricated through hot pressing followed by multi-pass hot rolling at 500 °C.The laminated sheets show strong bonding with intermetallic interface layers of nanoscale thickness between the layers of Ti and Al. The mechanical properties of the composites with different volume fractions of Al from 10% to 67% show a good combination of strength and ductility. A constraint strain in the hot-rolled laminated structure between the hard and soft phases introduces an elastic-plastic deformation stage, which becomes more pronounced as the volume fraction of Al decreases. Moreover, the thin intermetallic interface layer may also contribute to the strength of the composites, and this effect increases with increasing volume fraction of the interface layer

Detection of the Diffuse Supernova Neutrino Background with JUNO

As an underground multi-purpose neutrino detector with 20 kton liquid scintillator, Jiangmen Underground Neutrino Observatory (JUNO) is competitive with and complementary to the water-Cherenkov detectors on the search for the diffuse supernova neutrino background (DSNB). Typical supernova models predict 2-4 events per year within the optimal observation window in the JUNO detector. The dominant background is from the neutral-current (NC) interaction of atmospheric neutrinos with 12C nuclei, which surpasses the DSNB by more than one order of magnitude. We evaluated the systematic uncertainty of NC background from the spread of a variety of data-driven models and further developed a method to determine NC background within 15\% with {\it{in}} {\it{situ}} measurements after ten years of running. Besides, the NC-like backgrounds can be effectively suppressed by the intrinsic pulse-shape discrimination (PSD) capabilities of liquid scintillators. In this talk, I will present in detail the improvements on NC background uncertainty evaluation, PSD discriminator development, and finally, the potential of DSNB sensitivity in JUNO

Potential of Core-Collapse Supernova Neutrino Detection at JUNO

JUNO is an underground neutrino observatory under construction in Jiangmen, China. It uses 20kton liquid scintillator as target, which enables it to detect supernova burst neutrinos of a large statistics for the next galactic core-collapse supernova (CCSN) and also pre-supernova neutrinos from the nearby CCSN progenitors. All flavors of supernova burst neutrinos can be detected by JUNO via several interaction channels, including inverse beta decay, elastic scattering on electron and proton, interactions on C12 nuclei, etc. This retains the possibility for JUNO to reconstruct the energy spectra of supernova burst neutrinos of all flavors. The real time monitoring systems based on FPGA and DAQ are under development in JUNO, which allow prompt alert and trigger-less data acquisition of CCSN events. The alert performances of both monitoring systems have been thoroughly studied using simulations. Moreover, once a CCSN is tagged, the system can give fast characterizations, such as directionality and light curve

Precision pressing technology of four-column press

In order to improve the forming accuracy of grinding wheel, the pressing method of the four-column press for grinding wheel was investigated, tested, carded and analyzed. It was found that the traditional press generally had the phenomena of three centers with different shafts, easy unbalance loading pressure and uneven guidance during pressing. Based on the principle of linear transmission of force, a new scheme of pressure-center pressing was proposed, and a new test press was made and subjected to pressing tests. The new press removes the four-column guiding function, improves the system rigidity, redefines the position of the pressure-center, and completely eliminates the interference of all additional moments. The results of the batch forming test of grinding wheel show that the thickness difference of grinding wheel blank is reduced by 10.3% to 16.5%. The pressure-center pressing method is obviously superior to the traditional press pressing method, and is suitable for the near-net-size forming of small size products

Preparation and characterization of solidified oleanolic acid–phospholipid complex aiming to improve the dissolution of oleanolic acid

The purpose of this study was to prepare the oleanolic acid–phospholipid complex (OA-PC) and then solidify it employing fumed silica by simple solvent evaporation technique to improve dissolution rate of oleanolic acid and oleanolic acid–phospholipid complex. The process of OA-PC was optimized and the type and proportion of fumed silica were studied by dissolution text. The structures of the phospholipid complex and solidified powder were also characterized by differential scanning calorimetry, X-ray diffraction, and scanning electron microscope. In the dissolution tests, OA from solidified powder was further released compared with that from pure OA and OA-PC in different kinds of dissolution media. These results suggest that the method of preparing solidified powder of oleanolic acid–phospholipid complex is suitable for enhancing the dissolution rate of OA and OA-PC