Equity research - Gree Electric

Mestrado em FinançasA indústria de fabricação de eletrodomésticos chineses fez conquistas notáveis no mundo com o seu baixo custo de mão-de-obra, suporte de clusters industriais perfeitos e economias de escala, e estabeleceu a posição de "grande país da indústria de fabricação de eletrodomésticos". Com a adesão da China à organização mundial do comércio, os princípios de igualdade, reciprocidade e abertura ao comercio mundial, bem como a influência da onda de globalização, proporcionam uma boa oportunidade para a indústria de fabricação de eletrodomésticos da China, implementar a estratégia global e participar da competição no mercado global. A avaliação de valor, não apenas ajuda as empresas a conhecer melhor as suas capacidades, mas também ajuda os investidores a tomar decisões de investimento. Como o sistema financeiro do país não é sólido, os canais de investimento são limitados. Uma grande quantidade de capital é acumulada no mercado de ações e com muitos preços das ações se desviam do valor real, a avaliação do valor da empresa torna-se cada vez mais importante. Este projeto analisa a condição financeira e o valor da empresa de eletrodomésticos GREE, permitindo sugestões construtivas mais rigorosos.The Chinese household appliance manufacturing industry has made remarkable achievements in the world with its low labor cost, perfect supporting industrial cluster and scale economy, and laid the position of "big country of home appliance manufacturing industry". With China's accession to the world trade organization, the world trade organization's principles of equality, reciprocity and openness, as well as the influence of the wave of globalization, provide a good opportunity for China's home appliance manufacturing industry to implement the global strategy and participate in the global market competition. Value assessment not only helps enterprises understand themselves, but also helps investors make investment decisions. Because the country's financial system is not sound, the investment channel is limited, a large amount of capital is backlog into the stock market, and many stock prices deviate from the actual value, so the evaluation of enterprise value becomes more and more important. This project analyzes the financial condition and company value of GREE electric appliances, and puts forward constructive suggestions accordingly.info:eu-repo/semantics/publishedVersio

Zika Virus Non-structural Protein 4A Blocks the RLR-MAVS Signaling

Flaviviruses have evolved complex mechanisms to evade the mammalian host immune systems including the RIG-I (retinoic acid-inducible gene I) like receptor (RLR) signaling. Zika virus (ZIKV) is a re-emerging flavivirus that is associated with severe neonatal microcephaly and adult Guillain-Barre syndrome. However, the molecular mechanisms underlying ZIKV pathogenesis remain poorly defined. Here we report that ZIKV non-structural protein 4A (NS4A) impairs the RLR-mitochondrial antiviral-signaling protein (MAVS) interaction and subsequent induction of antiviral immune responses. In human trophoblasts, both RIG-I and melanoma differentiation-associated protein 5 (MDA5) contribute to type I interferon (IFN) induction and control ZIKV replication. Type I IFN induction by ZIKV is almost completely abolished in MAVS(-/-) cells. NS4A represses RLR-, but not Toll-like receptor-mediated immune responses. NS4A specifically binds the N-terminal caspase activation and recruitment domain (CARD) of MAVS and thus blocks its accessibility by RLRs. Our study provides in-depth understanding of the molecular mechanisms of immune evasion by ZIKV and its pathogenesis

Research on Traffic Optimization of Urban Four-Phase Intersections Based on VISSIM

In order to effectively solve the congestion problem of mixed intersections, improve traffic efficiency, and improve the current congestion situation of urban road network, this paper takes the mixed traffic flow intersection of Shanghai Road and Guyan Street in Yuanzhou District of Guyuan City as an example to carry out optimization research, collect traffic flow and signal timing data during peak hours through field investigation, and establish a microscopic road model by using VISSIM software. Through simulation, the indexes such as vehicle delay and queue length are obtained. Then the lane function of the model is divided, the signal timing is optimized by Webster algorithm and Fuzzy algorithm, and the comparison analysis is carried out. The simulation results show that the vehicle delay and queue length after Fuzzy optimization are greatly reduced, and the traffic running condition is significantly improved, thus verifying the scientificity and rationality of the optimization scheme

A Comparative Study on Process Potentials for Frictional Stir- and Electric Hot-assisted Incremental Sheet Forming

Abstract Incremental sheet forming (ISF), as an advanced forming technique, has received increasing interest from both academia and industry due to its improved formability, greater process flexibility and reduced energy consumption in its life cycle. However, with the growing application of lightweight alloys with very limited material elongation, conventional ISF inevitably encounters challenges in processing these alloys at room temperature, especially in forming magnesium and titanium alloys. Therefore, heat-assisted ISF techniques have been proposed to further enhance material formability at elevated temperatures. In this work, two heat-assisted ISF approaches, frictional stir- and electric hot- assisted ISF, have been employed to process the hard-to-form materials in terms of the flexibility and local dynamic heating. The temperature evolution and corresponding forming force at different feed rates of these two techniques, is investigated in detail to build up a processing window. In addition, process capabilities are compared by forming different geometrical shapes of magnesium alloy AZ31B of 1.4 mm sheet thickness. The investigation results show the pros and cons of frictional stir- and electric hot- assisted ISF. Frictional stir-assisted ISF is more efficient than electric hot-assisted ISF under current experimental results. However, electric hot-assisted ISF has faster heating rate which makes this technique less dependent on the component geometry

A Miniaturize Bandpass Filter with Harmonic Suppression Using Meandered Quarter-Wavelength Resonators

A miniaturized bandpass filter with harmonics suppression is presented. The proposed filter consists of two quarter-wavelength microstrip resonators, which are meandered for circuit size reduction. An interdigital capacitor, loading at zero-voltage point, is employed to provide the desired coupling between the resonators at operating frequency, whereas the coupling coefficient at the third harmonic is realized to be zero. Besides, the second and fourth harmonics are suppressed since λ/4 resonators are adopted. Benefiting from these properties, a miniaturized bandpass filter with the second, third, and fourth harmonics suppression was designed and implemented. The final measured and simulated results show good consistence with the theoretical counterparts

Integrals go Statistical: Cryptanalysis of Full Skipjack Variants

Integral attacks form a powerful class of cryptanalytic techniques that have been widely used in the security analysis of block ciphers. The integral distinguishers are based on balanced properties holding with probability one. To obtain a distinguisher covering more rounds, an attacker will normally increase the data complexity by iterating through more plaintexts with a given structure under the strict limitation of the full codebook. On the other hand, an integral property can only be deterministically verified if the plaintexts cover all possible values of a bit selection. These circumstances have somehow restrained the applications of integral cryptanalysis. In this paper, we aim to address these limitations and propose a novel \emph{statistical integral distinguisher} where only a part of value sets for these input bit selections are taken into consideration instead of all possible values. This enables us to achieve significantly lower data complexities for our statistical integral distinguisher as compared to those of traditional integral distinguisher. As an illustration, we successfully attack the full-round Skipjack-BABABABA for the first time, which is the variant of NSA\u27s Skipjack block cipher

A Review of the Engineering Role of Burrowing Animals: Implication of Chinese Pangolin as an Ecosystem Engineer

Ecosystem engineers are organisms that alter the distribution of resources in the environment by creating, modifying, maintaining and/or destroying the habitat. They can affect the structure and function of the whole ecosystem furthermore. Burrowing engineers are an important group in ecosystem engineers as they play a critical role in soil translocation and habitat creation in various types of environment.However, few researchers have systematically summarized and analyzed the studies of burrowing engineers. We reviewing the existing ecological studies of burrowing engineer about their interaction with habitat through five directions: (1) soil turnover; (2)changing soil physicochemical properties; (3) changing plant community structure; (4) providing limited resources for commensal animals;and/or (5) affecting animal communities. The Chinese pangolin (Manis pentadactyla) is a typical example of burrowing mammals, in part (5), we focus on the interspecific relationships among burrow commensal species of Chinese pangolin. The engineering effects vary with environmental gradient, literature indicates that burrowing engineer play a stronger role in habitat transformation in the tropical and subtropical areas.The most common experiment method is comparative measurements (include different spatial and temporal scale),manipulative experiment is relatively few. We found that most of the engineering effects had positive feedback to the local ecosystem, increased plant abundance and resilience, increased biodiversity and consequently improved ecosystem functioning. With the global background of dramatic climate change and biodiversity loss in recent decades, we recommend future studies should improving knowledge of long-term engineering effects on population scale and landscape scale, exploring ecological cascades through trophic and engineering pathways, to better understand the attribute of the burrowing behavior of engineers to restore ecosystems and habitat creation. The review is presented as an aid to systematically expound the engineering effect of burrowing animals in the ecosystem, and provided new ideas and advice for planning and implementing conservation management