Finanční analýza společnosti Lianhua Supermarket Holdings

Import 26/06/2013The main objective of the thesis is to formulate the assessment of Lianhua Supermarket’s present and future financial position. Knowing a company’s operations, expenses management and credit policies is a very important skill to investors and company’s managers. Understanding the knowledge of financial tools is the first step to do. And most of the theories were found in Analysis of Financial Statements, written by Pamela Peterson-Drake and Frank Fabozzi and Financial Analysis Techniques, written by Thomas R. Robinson, CFA. Normally different financial tools are used in different condition. Common-size analysis and financial ratios are introduced in this part. Common-size analysis includes horizontal analysis and vertical analysis. And financial ratios contain activity ratios, solvency ratios, liquidity ratios, profitability ratios and market ratios. More details about these methodologies will be explained in the second chapter. Why choose Lianhua Supermarket as this study object? Firstly, it’s a Chinese company, and I worked there during my last summer holiday. So this company is easier to be analyzed. Secondly, Lianhua is the fourth supermarket in China, just behind Carrefour. There are three main segments of retail outlets in Lianhua’s operation, namely hypermarkets, supermarkets and convenience stores, catering for the diverse needs of consumers. In a sense, Lianhua Supermarket is more representative among Chinese supermarkets. More information like Lianhua’s history, main competitors, operation structures and stock prices will be showed clearly and deeply in the third part of this text. When the balance sheet, the statement of cash flow, the income statement, the statement of shareholder’s equity and the financial environment have been known, it is time to use financial tools, including common-size analysis, financial ratio analysis and DuPont analysis. These boring data from annual report will be transferred by financial tools to a certainly conclusion, and the reason of policies deciding or financial statement changing will also be explained. It’s the fourth part of this thesis, and is also the main part. Based on the analysis above, we can know whether Lianhua is valuable to be concerned and invested. The last chapter is conclusion. It’s focused on the results and summaries of the study.The main objective of the thesis is to formulate the assessment of Lianhua Supermarket’s present and future financial position. Knowing a company’s operations, expenses management and credit policies is a very important skill to investors and company’s managers. Understanding the knowledge of financial tools is the first step to do. And most of the theories were found in Analysis of Financial Statements, written by Pamela Peterson-Drake and Frank Fabozzi and Financial Analysis Techniques, written by Thomas R. Robinson, CFA. Normally different financial tools are used in different condition. Common-size analysis and financial ratios are introduced in this part. Common-size analysis includes horizontal analysis and vertical analysis. And financial ratios contain activity ratios, solvency ratios, liquidity ratios, profitability ratios and market ratios. More details about these methodologies will be explained in the second chapter. Why choose Lianhua Supermarket as this study object? Firstly, it’s a Chinese company, and I worked there during my last summer holiday. So this company is easier to be analyzed. Secondly, Lianhua is the fourth supermarket in China, just behind Carrefour. There are three main segments of retail outlets in Lianhua’s operation, namely hypermarkets, supermarkets and convenience stores, catering for the diverse needs of consumers. In a sense, Lianhua Supermarket is more representative among Chinese supermarkets. More information like Lianhua’s history, main competitors, operation structures and stock prices will be showed clearly and deeply in the third part of this text. When the balance sheet, the statement of cash flow, the income statement, the statement of shareholder’s equity and the financial environment have been known, it is time to use financial tools, including common-size analysis, financial ratio analysis and DuPont analysis. These boring data from annual report will be transferred by financial tools to a certainly conclusion, and the reason of policies deciding or financial statement changing will also be explained. It’s the fourth part of this thesis, and is also the main part. Based on the analysis above, we can know whether Lianhua is valuable to be concerned and invested. The last chapter is conclusion. It’s focused on the results and summaries of the study.154 - Katedra financívelmi dobř

Aplikace metod reálných opcí při ocenění společnosti BAIDU

Import 22/07/2015In an uncertain environment, the firm’s ability to manage projects over time is valuable. The real options framework recognizes this value, and so represents a new approach to both project evaluation and strategic management [Barnett, 2005]. In this diploma thesis, we adopted real options method to evaluate asset values of Baidu with different flexibilities in 2013. Baidu is a leading company in Chinese internet search engine market, with the strongest technology and the best development teams in the industry.In an uncertain environment, the firm’s ability to manage projects over time is valuable. The real options framework recognizes this value, and so represents a new approach to both project evaluation and strategic management [Barnett, 2005]. In this diploma thesis, we adopted real options method to evaluate asset values of Baidu with different flexibilities in 2013. Baidu is a leading company in Chinese internet search engine market, with the strongest technology and the best development teams in the industry.154 - Katedra financívýborn

The Effect of Indium Concentration on the Structure and Properties of Zirconium Based Intermetallics: First-Principles Calculations

The phase stability, mechanical, electronic, and thermodynamic properties of In-Zr compounds have been explored using the first-principles calculation based on density functional theory (DFT). The calculated formation enthalpies show that these compounds are all thermodynamically stable. Information on electronic structure indicates that they possess metallic characteristics and there is a common hybridization between In-p and Zr-d states near the Fermi level. Elastic properties have been taken into consideration. The calculated results on the ratio of the bulk to shear modulus (B/G) validate that InZr3 has the strongest deformation resistance. The increase of indium content results in the breakout of a linear decrease of the bulk modulus and Young’s modulus. The calculated theoretical hardness of α-In3Zr is higher than the other In-Zr compounds

The Effects of Weather on Passenger Flow of Urban Rail Transit

Predicting passenger flow on urban rail transit is important for the planning, design and decision-making of rail transit. Weather is an important factor that affects the passenger flow of rail transit by changing the travel mode choice of urban residents. This study aims to explore the influence of weather on urban rail transit ridership, taking four cities in China as examples, Beijing, Shanghai, Guangzhou and Chengdu. To determine the weather effect on daily ridership rate, the three models were proposed with different combinations of the factors of temperature and weather type, using linear regression method.   The large quantities of data were applied to validate the developed models.  The results show that in Guangzhou, the daily ridership rate of rail transit increases with increasing temperature. In Chengdu, the ridership rate increases in rainy days compared to sunny days. While, in Beijing and Shanghai, the ridership rate increases in light rainfall and heavy rainfall (except moderate rainfall) compared to sunny days. The research findings are important to understand the impact of weather on passenger flow of urban rail transit. The findings can provide effective strategies to rail transit operators to deal with the fluctuation in daily passenger flow

Advancements in the treatment of non-alcoholic fatty liver disease (NAFLD)

Non-alcoholic fatty liver disease (NAFLD) is a series of diseases, involving excessive lipid deposition in the liver and is often accompanied by obesity, diabetes, dyslipidemia, abnormal blood pressure, and other metabolic disorders. In order to more accurately reflect its pathogenesis, an international consensus renamed NAFLD in 2020 as metabolic (dysfunction) associated with fatty liver disease (MAFLD). The changes in diet and lifestyle are recognized the non-drug treatment strategies; however, due to the complex pathogenesis of NAFLD, the current drug therapies are mainly focused on its pathogenic factors, key links of pathogenesis, and related metabolic disorders as targets. There is still a lack of specific drugs. In clinical studies, the common NAFLD treatments include the regulation of glucose and lipid metabolism to protect the liver and anti-inflammation. The NAFLD treatments based on the enterohepatic axis, targeting gut microbiota, are gradually emerging, and various new metabolism-regulating drugs are also under clinical development. Therefore, this review article has comprehensively discussed the research advancements in NAFLD treatment in recent years

Molecular characterization of a DNA fragment harboring the replicon of pBMB165 from Bacillus thuringiensis subsp. tenebrionis

BACKGROUND: Bacillus thuringiensis belongs to the Bacillus cereus sensu lato group of Gram-positive and spore-forming bacteria. Most isolates of B. thuringiensis can bear many endogenous plasmids, and the number and size of these plasmids can vary widely among strains or subspecies. As far as we know, the replicon of the plasmid pBMB165 is the first instance of a plasmid replicon being isolated from subsp. tenebrionis and characterized. RESULTS: A 20 kb DNA fragment containing a plasmid replicon was isolated from B. thuringiensis subsp. tenebrionis YBT-1765 and characterized. By Southern blot analysis, this replicon region was determined to be located on pBMB165, the largest detected plasmid (about 82 kb) of strain YBT-1765. Deletion analysis revealed that a replication initiation protein (Rep165), an origin of replication (ori165) and an iteron region were required for replication. In addition, two overlapping ORFs (orf6 and orf10) were found to be involved in stability control of plasmid. Sequence comparison showed that the replicon of pBMB165 was homologous to the pAMβ1 family replicons, indicating that the pBMB165 replicon belongs to this family. The presence of five transposable elements or remnants thereof in close proximity to and within the replicon control region led us to speculate that genetic exchange and recombination are potentially responsible for the divergence among the replicons of this plasmid family. CONCLUSION: The replication and stability features of the pBMB165 from B. thuringiensis subsp. tenebrionis YBT-1765 were identified. Of particular interest is the homology and divergence shared between the pBMB165 replicon and other pAMβ1 family replicons

Identification of the Signature Associated With m6A RNA Methylation Regulators and m6A-Related Genes and Construction of the Risk Score for Prognostication in Early-Stage Lung Adenocarcinoma

BackgroundN6-methyladenosine (m6A) RNA modification is vital for cancers because methylation can alter gene expression and even affect some functional modification. Our study aimed to analyze m6A RNA methylation regulators and m6A-related genes to understand the prognosis of early lung adenocarcinoma.MethodsThe relevant datasets were utilized to analyze 21 m6A RNA methylation regulators and 5,486 m6A-related genes in m6Avar. Univariate Cox regression analysis, random survival forest analysis, Kaplan–Meier analysis, Chi-square analysis, and multivariate cox analysis were carried out on the datasets, and a risk prognostic model based on three feature genes was constructed.ResultsRespectively, we treated GSE31210 (n = 226) as the training set, GSE50081 (n = 128) and TCGA data (n = 400) as the test set. By performing univariable cox regression analysis and random survival forest algorithm in the training group, 218 genes were significant and three prognosis-related genes (ZCRB1, ADH1C, and YTHDC2) were screened out, which could divide LUAD patients into low and high-risk group (P < 0.0001). The predictive efficacy of the model was confirmed in the test group GSE50081 (P = 0.0018) and the TCGA datasets (P = 0.014). Multivariable cox manifested that the three-gene signature was an independent risk factor in LUAD. Furthermore, genes in the signature were also externally validated using the online database. Moreover, YTHDC2 was the important gene in the risk score model and played a vital role in readers of m6A methylation.ConclusionThe findings of this study suggested that associated with m6A RNA methylation regulators and m6A-related genes, the three-gene signature was a reliable prognostic indicator for LUAD patients, indicating a clinical application prospect to serve as a potential therapeutic target

Chronic and Cumulative Adverse Life Events in Women with Primary Ovarian Insufficiency:An Exploratory Qualitative Study

BACKGROUND AND PURPOSE: Primary ovarian insufficiency (POI) has serious physical and psychological consequences due to estradiol deprivation, leading to increased morbidity and mortality. However, the causes of most POI cases remain unknown. Psychological stress, usually caused by stressful life events, is known to be negatively associated with ovarian function. It is important to explore high-frequency adverse life events among women with POI for future interventions. METHODS: Forty-three women (mean age=33·8 years) were recruited who were newly- diagnosed with idiopathic POI (FSH levels >40 IU/L) to participate in semi-structured interviews through convenience sampling. The main questions covered by the topic guide were designed to explore adverse life events prior to POI diagnosis. Interviews were audio recorded, transcribed and analyzed thematically. Data were analyzed from June 2019 to August 2020. RESULTS: Among the women with POI, mean age at diagnosis of POI was 33·8 years (range from 19 to 39 years), and the average time between the onset of irregular menstruation and POI diagnosis was 2.3 years. These women with POI had a relatively normal menstrual cycle before the diagnosis. A number of stressful life events prior to POI diagnosis were discussed by them as important factors influencing their health. Four core themes emerged: 1) persistent exposure to workplace stress, 2) persistent exposure to family-related adverse life events, 3) sleep problem/disturbance existed in women with POI before diagnosis, and 4) participants’ general cognition and concerns about POI. CONCLUSIONS: Persistent exposures to adverse life events related to work stress, family stress and sleep problem existed in women with POI. Our findings are consistent with the hypothesis that adverse life events play a role in the development of POI. Future research should investigate how social environmental factors influence POI disease risks, and whether provision of tailored interventions (i.e. preventing or mitigating impact of adverse life events) aimed at high-risk populations may help prevent new POI cases and improve conditions of women with POI. We gained an in-depth understanding of the experiences of these women via 1:1 qualitative method, and find adverse life events are frequent in women with POI prior to the diagnosis

Association of long-term triglyceride-glucose index level and change with the risk of cardiometabolic diseases

ObjectiveThe triglyceride-glucose (TyG) index is considered as a pivotal factor for various metabolic, cardiovascular, and cerebrovascular diseases. However, there is currently a paucity of relevant studies on the association between long-term level and change of TyG-index and cardiometabolic diseases (CMDs) risk. We aimed to explore the risk of CMDs in relation to the long-term level and change of TyG-index.MethodsBased on the prospective cohort study, a total of 36359 subjects who were free of CMDs, had complete data of triglyceride (TG) and fasting blood glucose (FBG) and underwent four health check-ups from 2006 to 2012 consecutively were followed up for CMDs until 2021. The associations between long-term level and change of TyG-index and CMDs risk were assessed by Cox proportional hazards regression models to compute hazard ratios (HRs) and 95% confidence intervals (CIs). The TyG-index was calculated as ln [TG, mg/dL) × FBG, mg/dL)/2].ResultsDuring the median observation period of 8 years, 4685 subjects were newly diagnosed with CMDs. In multivariable-adjusted models, a graded positive association was observed between CMDs and long-term TyG-index. Compared with the Q1 group, subjects with the Q2-Q4 group had increased progressively risk of CMDs, with corresponding HRs of 1.64(1.47-1.83), 2.36(2.13-2.62), 3.15(2.84-3.49), respectively. The association was marginally attenuated, after further adjustment for the baseline TyG level. In addition, compared with stable TyG level, both loss and gain in TyG level were associated with increased CMDs risk.ConclusionsLong-term elevated level and change of TyG-index are risk factors for the incident CMDs. Elevated TyG-index in the early stage remains to exert cumulative effects on the occurrence of CMDs even after accounting for the baseline TyG-index