Srovnání tvorby tržní hodnoty v rámci společností Tesla a BYD Automobile

In recent years, with the rise of a new round of technological revolution and industrial transformation, new energy vehicles have become the backbone of the transformation and upgrading of the automotive industry, and the new energy vehicle industry has also ushered in unprecedented development opportunities. In the new energy vehicle industry, Tesla and BYD electric vehicles are good industry representatives. This article analyses the difference in multiplier selection between Tesla and BYD through the key value-driven formula and pyramid decomposition. We choose value/NOPAT as the multiplier. Through calculations, we find that the predicted growth rates of Tesla and BYD are smaller than WACC and ROIC, and both companies generate value. The ROIC of Tesla and BYD are both greater than WACC, and the growth rate has increased. Their growth has produced meaningful economic benefits, leading to an increase in the market capitalization of both companies. Tesla's higher WACC reflects its higher financing costs, which can be lowered by increasing long-term debt and reducing equity capital. For any level of growth, increasing ROIC will always increase value, thereby reducing the investment capital required for growth. The higher return on capital of Tesla and BYD shows that the two companies have better economic returns on their own investment, and investors have less risk, so it is worth continuing to invest. From the results of pyramid decomposition, it can be found that the value creation of Tesla is higher than that of BYD. We find Tesla’s impact on value creation at g, 1-Expense/S, (FAt-1/S)⋅360, (Et-1/Ct-1), RE, RD⋅(1-t), greater than 0, the effect is positive. Among them, (Et-1/Ct-1) has the greatest impact on Tesla's value creation, which is 24.356, which is a positive impact. Tesla's value creation driven by (Et-1/Ct-1) is higher than that of BYD. Then the positive impact of 1-Expense/S is 8.5197. Then the positive impact of RE is 9.565, Tesla's value creation driven by 1-Expense/S and RE is higher than BYD. Tesla uses more equity, while BYD uses more debt, Tesla's equity cost and debt cost are higher, and WACC is higher than BYD. In the effect of (CAt- 1/S) ⋅ 360, (Dt-1/Ct-1), the effect of ROIC and IR on value creation is less than 0, and the effect is negative. Tesla's fixed assets/revenue ratio is higher than BYD's. Tesla's (Dt -1/Ct-1) is higher than BYD. Tesla generates more value from fixed assets, BYD generates more value from liquid assets. Among them, the negative impact of (Dt-1/Ct-1) on Tesla is -8.871. Tesla's value creation driven by (Dt-1/Ct-1) is not as good as BYD. Tesla's investment capital is higher than BYD's, Tesla's ROIC is higher than BYD's, and NOPAT invests more. So, Tesla should pay more attention to (Et-1/Ct-1), 1-Expense/S and (Dt-1/Ct-1), should increase (Et-1/Ct-1), reduce expenses, increase value.V posledních letech, s nástupem nového kola technologické revoluce a průmyslové transformace, se nová energetická vozidla stala páteří transformace a modernizace automobilového průmyslu a průmysl nových energetických vozidel také přinesl nebývalé možnosti rozvoje. V odvětví nových energetických vozidel jsou elektromobily Tesla a BYD dobrými představiteli odvětví. Tento článek analyzuje rozdíl ve výběru multiplikátoru mezi Teslou a BYD prostřednictvím klíčového vzorce řízeného hodnotou a pyramidového rozkladu. Jako multiplikátor zvolíme hodnotu/NOPAT. Prostřednictvím výpočtů zjistíme, že předpokládané míry růstu Tesly a BYD jsou menší než WACC a ROIC a obě společnosti vytvářejí hodnotu. ROIC Tesla a BYD jsou obě vyšší než WACC a tempo růstu se zvýšilo. Jejich růst přinesl významné ekonomické přínosy, které vedly ke zvýšení tržní kapitalizace obou společností. Vyšší WACC společnosti Tesla odráží její vyšší náklady na financování, které lze snížit zvýšením dlouhodobého dluhu a snížením vlastního kapitálu. Na jakékoli úrovni růstu bude zvýšení ROIC vždy zvyšovat hodnotu, čímž se sníží investiční kapitál potřebný pro růst. Vyšší návratnost kapitálu Tesly a BYD ukazuje, že tyto dvě společnosti mají lepší ekonomickou návratnost svých vlastních investic a investoři mají menší riziko, takže se vyplatí pokračovat v investicích. Z výsledků pyramidového rozkladu lze zjistit, že tvorba hodnoty Tesly je vyšší než u BYD. Dopad Tesly na tvorbu hodnoty najdeme u g, 1-Náklady/S, (FAt-1/S)⋅360, (Et-1/Ct-1), RE, RD⋅(1-t), větší než 0, efekt je pozitivní. Mezi nimi má (Et-1/Ct-1) největší vliv na tvorbu hodnoty Tesly, která činí 24,356, což je pozitivní dopad. Tvorba hodnoty Tesly poháněná (Et-1/Ct-1) je vyšší než u BYD. Pak je pozitivní dopad 1-Expense/S 8,5197. Pak je pozitivní dopad RE 9,565, tvorba hodnoty Tesly poháněná 1-Expense/S a RE je vyšší než BYD. Tesla používá více vlastního kapitálu, zatímco BYD používá více dluhů, náklady na vlastní kapitál a náklady na dluh společnosti Tesla jsou vyšší a WACC je vyšší než BYD. V efektu (CAt-1/S) ⋅ 360, (Dt-1/Ct-1) je vliv ROIC a IR na tvorbu hodnoty menší než 0 a efekt je negativní. Poměr stálých aktiv/výnosů Tesly je vyšší než u BYD. Tesla (Dt -1/Ct-1) je vyšší než BYD. Tesla generuje větší hodnotu z fixních aktiv, BYD generuje větší hodnotu z likvidních aktiv. Mezi nimi je negativní dopad (Dt-1/Ct-1) na Teslu -8,871. Tvorba hodnoty Tesly poháněná (Dt-1/Ct-1) není tak dobrá jako BYD. Investiční kapitál Tesly je vyšší než BYD, ROIC Tesly je vyšší než BYD a NOPAT investuje více. Tesla by tedy měla věnovat více pozornosti (Et-1/Ct-1), 1-Expense/S a (Dt-1/Ct-1), měla by zvýšit (Et-1/Ct-1), snížit výdaje, zvýšit hodnota.154 - Katedra financídobř

The Runoff Changes and Influential Factors Analysis of Wulanmulun River

In the past 60 years, climate change and increasingly extensive human activities have greatly altered the runoff in Wulanmulun River basin. Based on the climate and hydrological data in Wangdaohengta station during 1959 - 2015, runoff variation characteristics and the influencing factors were studied. Mann - Kendall trend analysis, statistic analysis, R / S analysis, and double mass curve were used comprehensively in the study. The results indicated that the multi - year change of runoff had a decreased tendency in all, and this trend was the most evident since the end of the twentieth century. The runoff affected by rainfall and human activities appeared three change periods in which the turning years were 1980 and 1995 respectively. The effect of precipitation on runoff decreased, and the influence rate reduced from 18.77% in 1980 - 1995 to 8.48% in 1995 - 2015. The influence of human activities on runoff gradually increased, the influence rate increased from 81.23% in 1980 - 1995 to 91.52% in 1995 - 2015. The Hurst index was 0.3533 for the Wangdaohengta station which indicates that the runoff of Wulanmulun River will have a raise trend in the future

Adsorption–desorption behavior of malachite green by potassium permanganate pre-oxidation polyvinyl chloride microplastics

Microplastics (MPs) and the typical hydrophilic organic pollutant Malachite green (MG) are frequently detected in sewage treatment plants. Potassium permanganate (KMnO4) pre-oxidation is an economical and effective technology in wastewater treatment. It is important to study the surface physicochemical characteristics of MPs and understand their fate in wastewater treatment plants after pre-oxidation. In this study, Polyvinyl chloride (PVC) MPs were treated by single and composite KMnO4 pre-oxidation with different pH values. After the pre-oxidation treatment, the appearance of Osingle bondMn spectra and surface nanoparticles indicated the oxides (MnO2) were produced on the MPs surface. Moreover, the adhesion of MnO2 is helpful to improve the hydrophilicity and adsorption capacity of MG. The adsorption capacity of pristine PVC for MG was 2.6 mg/g. But the adsorption capacity increased to 7.0 mg/g for single oxidation and 140.7 mg/g for composite oxidation, respectively. The desorption experiment results indicate the pre-oxidation process could reduce the release efficiency of MG from the PVC MPs due to the better binding of surface MnO2 nanoparticles to MG. However, the total desorption capacity is still high. which illustrates that there is a high potential risk of MG which can transfer from the surface of the PVC MPs to the gastrointestinal fluids.publishedVersio

Preparation of AuNPs/GQDs/SiO 2

Composites of gold nanoparticles and graphene quantum dots (AuNPs/GQDs) exhibit excellent dispersibility in aqueous solutions. Thus, it is difficult to separate them from wet reaction systems when they are used as catalysts. To resolve this issue, in this study, an AuNPs/GQDs composite was immobilized on silicon dioxide through the hydrothermal method, which involved the formation of an amide bond between the surface GQDs of the AuNPs/GQDs composite and the amino group of the silane. The as-synthesized AuNPs/GQDs/SiO2 composite was found to be suitable for use as a heterogeneous catalyst for the oxidation of veratryl alcohol in water and exhibited catalytic activity comparable to that of bare AuNPs/GQDs as well as better recyclability

Desorption of sulfamethoxazole from polyamide 6 microplastics: Environmental factors, simulated gastrointestinal fluids, and desorption mechanisms

Microplastics (MPs) can enrich pollutants after being released into the environment, and the contaminants-loaded MPs are usually ingested by organisms, resulting in a potential dual biotoxic effect. In this paper, the adsorption behavior of Sulfamethoxazole (SMX) on Polyamide 6 (PA6) MPs was systematically investigated and simulated by the kinetic and isotherm models. The effect of environmental conditions (pH, salinity) on the adsorption process was studied, and the desorption behavior of SMX-loaded PA6 MPs was focused on simulating the seawater, ultrapure water, gastric and intestinal fluids. We found that lower pH and solubilization of SMX by gastrointestinal components (bovine serum albumin (BSA), sodium taurocholate (NaT), and pepsin) can reduce the electrostatic interaction between the surface charge of PA6 MPs and SMX. The result will lead to an increase in the desorption capacity of SMX-loaded PA6 MPs in gastrointestinal fluids and therefore will provide a reasonable mechanism for the desorption of SMX-loaded PA6 MPs in the gastrointestinal fluids. This study will provide a theoretical reference for studying the desorption behavior of SMX-loaded PA6 MPs under gastrointestinal conditions.publishedVersio

Naive Pluripotent Stem Cells Derived Directly from Isolated Cells of the Human Inner Cell Mass.

Conventional generation of stem cells from human blastocysts produces a developmentally advanced, or primed, stage of pluripotency. In vitro resetting to a more naive phenotype has been reported. However, whether the reset culture conditions of selective kinase inhibition can enable capture of naive epiblast cells directly from the embryo has not been determined. Here, we show that in these specific conditions individual inner cell mass cells grow into colonies that may then be expanded over multiple passages while retaining a diploid karyotype and naive properties. The cells express hallmark naive pluripotency factors and additionally display features of mitochondrial respiration, global gene expression, and genome-wide hypomethylation distinct from primed cells. They transition through primed pluripotency into somatic lineage differentiation. Collectively these attributes suggest classification as human naive embryonic stem cells. Human counterparts of canonical mouse embryonic stem cells would argue for conservation in the phased progression of pluripotency in mammals.This work was supported by the Medical Research Council, Biotechnology and Biological Sciences Research Council, Swiss National Science Foundation (SNF)/Novartis SNF (F.v.M.) and core funding to the Cambridge Stem Cell Institute from the Wellcome Trust and Medical Research Council. AS is a Medical Research Council Professor.This is the final version of the article. It first appeared from Cell Press via http://dx.doi.org/10.1016/j.stemcr.2016.02.00

Absolute quantification of a plasma tRNA-derived fragment for the diagnosis and prognosis of gastric cancer

BackgroundThe transition from a healthy gastric mucosa to gastric cancer is a multi-step process. Early screening can significantly improve the survival rate of gastric cancer patients. A reliable liquid biopsy for gastric cancer prediction is urgently needed and since tRNA-derived fragments (tRFs) are abundant in various body fluids, tRFs are possible new biomarkers for gastric cancer.MethodsA total of 438 plasma samples from patients with different gastric mucosal lesions as well as healthy individuals were collected. A specific reverse transcription primer, a forward primer, a reverse primer, and a TaqMan probe were designed. A standard curve was constructed and an absolute quantitation method was devised for detection of tRF-33-P4R8YP9LON4VDP in plasma samples of individuals with differing gastric mucosa lesions. Receiver operating characteristic curves were constructed to evaluate the diagnostic values of tRF-33-P4R8YP9LON4VDP for individual with differing gastric mucosa. A Kaplan–Meier curve was established to calculate the prognostic value of tRF-33-P4R8YP9LON4VDP for advanced gastric cancer patients. Finally, a multivariate Cox regression analysis was performed to assess the independent prognostic value of tRF-33-P4R8YP9LON4VDP for advanced gastric cancer patients.ResultsA detection method for plasma tRF-33-P4R8YP9LON4VDP was successfully established. Levels of plasma tRF-33-P4R8YP9LON4VDP were shown to reflect a gradient change from healthy individuals to gastritis patients to early and advanced gastric cancer patients. Significant differences were found among individuals with differing gastric mucosa, with reduced levels of tRF-33-P4R8YP9LON4VDP significantly related to a poor prognosis. tRF-33-P4R8YP9LON4VDP was found to be an independent predictor of an unfavorable survival outcome.ConclusionsIn this study, we developed a quantitative detection method for plasma tRF-33-P4R8YP9LON4VDP that exhibited hypersensitivity, convenience, and specificity. Detection of tRF-33-P4R8YP9LON4VDP was found to be a valuable means by which to monitor different gastric mucosa and to predict patient prognosis

Enhancement of Calcium Chelating Activity in Peptides from Sea Cucumber Ovum through Phosphorylation Modification

Recently, phosphorylation has been applied to peptides to enhance their physiological activity, taking advantage of its modification benefits and the extensive study of functional peptides. In this study, water-soluble peptides (WSPs) of sea cucumber ovum were phosphorylated in order to improve the latter’s calcium binding capacity and calcium absorption. Enzymatic hydrolysis methods were screened via ultraviolet-visible absorption spectroscopy (UV–Vis), the fluorescence spectrum, and calcium chelating ability. Phosphorylated water-soluble peptides (P-WSPs) were characterized via high-performance liquid chromatography, the circular dichroism spectrum, Fourier transform infrared spectroscopy (FTIR), UV–Vis spectroscopy, surface hydrophobicity, and fluorescence spectroscopy. The phosphorus content, calcium chelation rate and absorption rate were investigated. The results demonstrated that phosphorylation enhanced the calcium chelating capacity of WSPs, with the highest capacity reaching 0.96 mmol/L. Phosphate ions caused esterification events, and the carboxyl, amino, and phosphate groups of WSPs and P-WSPs interacted with calcium ions to form these bonds. Calcium-chelated phosphorylated water-soluble peptides (P-WSPs-Ca) demonstrated outstanding stability (calcium retention rates > 80%) in gastrointestinal processes. Our study indicates that these chelates have significant potential to develop into calcium supplements with superior efficacy, bioactivity, and stability

Virome and metagenomic analysis reveal the distinct distribution of microbiota in human fetal gut during gestation

Studies have shown that fetal immune cell activation may result from potential exposure to microbes, although the presence of microbes in fetus has been a controversial topic. Here, we combined metagenomic and virome techniques to investigate the presence of bacteria and viruses in fetal tissues (small intestine, cecum, and rectum). We found that the fetal gut is not a sterile environment and has a low abundance but metabolically rich microbiome. Specifically, Proteobacteria and Actinobacteria were the dominant bacteria phyla of fetal gut. In total, 700 species viruses were detected, and Human betaherpesvirus 5 was the most abundant eukaryotic viruses. Especially, we first identified Methanobrevibacter smithii in fetal gut. Through the comparison with adults’ gut microbiota we found that Firmicutes and Bacteroidetes gradually became the main force of gut microbiota during the process of growth and development. Interestingly, 6 antibiotic resistance genes were shared by the fetus and adults. Our results indicate the presence of microbes in the fetal gut and demonstrate the diversity of bacteria, archaea and viruses, which provide support for the studies related to early fetal immunity. This study further explores the specific composition of viruses in the fetal gut and the similarities between fetal and adults’ gut microbiota, which is valuable for understanding human fetal immunity development during gestation