Semi-conductor top-downs

Since this year, the former cattle unit, including the Behind, Sakakawa, and the Troika, has issued an announcement that the Grand Fund intends to reduce its shares. The second round reached a semiconductor of the market value of 17 billion.

On the evening of 5 May, the North China Initiative announced that the National Integrated Road Industries Investment Fund Inc. was planning to reduce its share of the company by major transaction or concentration of competitive bidding within six months of the date of disclosure of this bulletin to a total of 1059.12 million units (2.0 per cent of the company’s total equity share).

As of the date of disclosure of the bulletin, the NIR Fund held 39,328,803 units in the North, representing 7.43 per cent of the company’s total equity share, currently the third largest shareholder of the company.

It is worth noting that this was the first time since 2021 the National Major Fund has reduced its share in the North, which was then held in September and December 2020, with a cumulative reduction of 9.9.23 million.

From the point of view of equity, the North has started to date from the beginning of 2018, with five years of time equity rising from a minimum of 24.17 to a maximum of 452.58 dollars, with a maximum of 18 times the value of equity, a market-recognized semi-conductor opening. At present, the unit is valued at $322.13, with a total market value of $176 million.

The same day in the North was reduced by the National Major Fund, as was the case with CPF. In the evening of the day, the National Core Science and Technology Proclamation is proposed for a reduction of not more than 2 per cent in the National Fund for Investment in Integrated Roads. In terms of equity, the Unit has also experienced a 44 per cent increase in equity since its listing.

In the course of the year, 12 companies were reduced by the Major Fund: without prejudice to future development

According to incomplete statistics, there have been 12 semiconductor units that have been reduced by the National Major Fund since this year.

In March of this year, Sakakawa Science and Technology, NBC and Sakamoto were reduced by NIR to no more than 2 per cent of the company’s share, while SST was reduced by NIR to no more than 2.5 per cent of the company’s share, and Jacques Science and Technology was reduced by NIR to no more than 1 per cent of the company’s share. In April, the three-enhanced photovoltaic power was proposed by the Grand Fund for less than 1 per cent of the company’s shares, with the exception of solar microelectronics, chips, micro-electricity, and road science and technology being reduced by the Major Fund to no more than 2 per cent.

There was no pessimism on the part of the country’s larger funds. The SI believes that the reduction of the national investment fund for integrated circuits does not shake positive national optimism about the future development prospects of the semi-conductor industry, but rather is a financial-structural adjustment that diverts funds from leading enterprises that have made some technological breakthroughs to those that still need funding to support R&D operations, while affecting short-term market sentiments, does not affect the future development logic of the enterprise.

Many mothers are likely to experience post-natal inconvenience situations, which may cause post-natal pain or even temptation,

It is therefore important to prevent and reconcile post-natal consultations.

Prenatal conditions

The growing number of uterine uterines during pregnancy has caused excessive inflammation of the abdomen, resulting in the hypermocratization of the postnatal abdomen and the skirmishes of the ward. In addition, the weakness of the post-natal mother or the presence of a casualty after the operation can easily result in reduced platoon power.

The intestation function of the mother has been weakened and the intestinal tract has been slowed to prolong the intestinal period, resulting in over-absorption of water.

The higher number of bed beds and reduced activity during the penultimate period affect the intestation, leading in turn to secrets.

The fear of exclusivity by new mothers in the middle of the month also affects the smooth exclusion of psychological factors, such as bruising the penis and unhabiting pumping.

The dietary structure during the month was not reasonable, with too much emphasis on post-natal feeding, much larger fish was eating and fewer vegetables, fruit and vegetables.

Post-natal transit

Appropriate activities, not long-term bed

Mothers, usually between 6 and 8 hours after natural birth, can sit down, carry out some of the activities of a single nucleus, or beat the garrison of their own. The second day should be taken back indoors, with no fatigue, but with a view to avoiding long periods of stand-off and downward. The second day of the postnatal period may be used for the indoor walking of the booths. Such an appropriate activity would facilitate intestinal disturbances, reduce the time spent on food intestation and increase the volume of discharges.

2 Maintaining the spirit of comfort and accelerating the intestation process

Post-natal mothers are required to adjust their mindset in a timely manner, to maintain their happiness and comfort and to facilitate the normal functioning of the gastrogen function. Poor emotions can lead to lower levels of stomach acid, slowing down intestinality and causing complacency. It is therefore good practice for post-natal mothers to maintain their hearts and minds. At the same time, adherence to time-bound platoons and the progressive development of exclusivity conditionality would also help to alleviate the secretarial situation.

Promotion of platoons by caves

The caves can enhance the ability of the intestation to promote platoons. The use of caesareas to the pressure caves (in the middle abdominate, three on each side of the throne) and to move forward with a bundomen and a slow adsorption, slowly moving forward, calling, and repeating five times with some effect.

Food containing dietary fibres

Mothers are required to drink more and more drinking water each day, with an appropriate increase in the proportion of weeds in the meal, with a staple food basket and a guarantee of food diversification. New vegetables and fruits containing dietary fibres are also eating in meat, eggs.

Incidence

The battery is a normal physical occurrence in the process of relapse of the new mother. The normal malignant is brown, with the return of the new mother’s body, three stages of change.

As a general rule, during the course of the operation, the physician will remove some of the blood parcels and foetuses in the utero, so that the malaise of the midwife will be maintained for up to two weeks, while the prostitute mother will be able to appear for about four weeks after the birth. If one month after the birth of the child, the appearance is still more bloody, it is not clear.

Tips: Unknown anomalies requiring timely access to health care

When a new mother is in need of timely access:

If two weeks after the birth of the child, the appearance is still fresh and numerous, accompanied by a malignant, it is possible to remove a bag or a penitive film, which may remain in the uterine or a penitentiary, and at any time have a great risk of bleeding.

Post-natal mothers have symptoms such as heat, pain in the abdominate, increased exposure to bleak, tainted earth and taste, which may occur, and should be treated immediately.

The infestation of March may increase as a result of the use of force or mammals, but there are too many cases of exposure (two half-hour wet-breedings of sanitary mattresses), too many blood pieces or more blood-flows that must be immediately available.

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Produced by: Sina Finance listed company Research Institute

In the past February, a total of 26 A-share companies proposed to IPO held the meeting, including 23, with a meeting rate of 88.46%, slightly lower than that in January (91.89%).

If considering the withdrawal of IPO application enterprises, the “real attendance rate” of A-share proposed IPO enterprises in February was 69.7%, a significant increase from 51.52% in January, mainly due to the decrease in the number of enterprises withdrawing IPO application month on month. In addition, the number of enterprises that terminated registration (including non registration) in February also decreased significantly to 0 compared with 6 in January.

In terms of issuance and fund-raising, a total of 17 enterprises (by listing date, the same below) were successfully listed in February, raising a total of 20.649 billion yuan, down 81% from 109.238 billion yuan in January. This is mainly due to the Spring Festival holiday in February, less working days and less issuance. Moreover, in January, large enterprises such as China Mobile and Jingke energy were listed, and the fund-raising amounts of the two companies were 56 billion yuan and 10 billion yuan respectively.

The monthly meeting rate of gem hit a new low since the registration system

In January, a total of 26 A-share IPO companies attended the meeting, and 23 had passed the meeting, with an overall passing rate of 88.46%. By sector, the Beijing stock exchange has maintained a 100% attendance rate since its establishment; Main board 7 passes 6, and the passing rate is 83.33%; Science and technology innovation board 8, and the passing rate is 100%; The gem passed 7 in September, and the passing rate was only 77.78%, the lowest in a single month since the registration system.

In July 2020, the gem will test the water registration system. As of February 28, 2022, a total of 422 companies (data from wind, including the second meeting companies, the same below) proposed to IPO on the gem (under the registration system) had attended the meeting, and 403 had passed the meeting, with an overall passing rate of 95.5%.

Previously, the lowest monthly meeting rate of gem was in December 2021. In that month, 16 enterprises attended the meeting, 13 attended the meeting, 2 were rejected and 1 was cancelled. The monthly meeting rate was 81.25%.

From July 2020 to November 2021, when the registration system was implemented, 382 enterprises attended the meeting under the gem registration system, and 368 passed the meeting, with a passing rate of 96.34%. From December 1, 2021 to the end of February 2022, a total of 40 enterprises on the gem attended the meeting, and 35 attended the meeting, with a passing rate of 87.5%. From December 2021 as the dividing point, the passing rate of GEM has an obvious downward trend.

In February, Hunan hi tech Fisheries Co., Ltd. (hereinafter referred to as hi tech Asia) and hi tech Hong Kong Co., Ltd. (hereinafter referred to as hi tech Asia) failed to pass the audit. Among them, the acceptance of Asian fishing ports is of wind vane significance, which conveys the firm determination of gem to focus on “three innovations and four innovations”.

What is “three innovations and four innovations”? The measures for the administration of the registration of initial public offerings on the gem (for Trial Implementation) stipulates that an issuer applying for initial public offerings and listing on the gem shall meet the positioning of the gem. The gem thoroughly implements the innovation driven development strategy, adapts to the general trend of relying more on innovation, creation and creativity, mainly serves growth innovative and entrepreneurial enterprises, and supports the deep integration of traditional industries with new technologies, new industries, new formats and new models.

According to the prospectus, the main business of Asian fishing port is the R & D, sales and distribution services of standardized fresh catering ingredients. It is a brand supplier of fresh catering ingredients. The company’s main products and services are divided into: raw and fresh food products of deep-processing products and primary processing products, as well as warehousing and logistics services.

Generally speaking, the Asian fishing port is a processing plant for raw and fresh ingredients. Although the company’s statement in the prospectus is like clouds and rain, which is exaggerated, it can not change the essence of the company as a fresh processing plant. Investors use simple concepts to analyze, and the company does not belong to “three innovations and four innovations”.

At present, the compound growth rate of operating revenue and net profit of Asian fishing ports from 2018 to 2020 is negative, and the proportion of R & D expenses in operating revenue during the reporting period is 1.17%, 0.83%, 0.84% and 0.71% respectively. The four invention patents owned by the company were obtained in 2013, and the income of products related to invention patents accounted for 5.00%, 2.74%, 2.45% and 2.16% respectively. At present, the company only controls its own factories and some OEM manufacturers through z-network, but has not achieved the whole process control. The company mainly adopts outsourcing processing mode to carry out production.

At the review meeting on GEM, the municipal Party committee clearly required Asian fishing ports to explain whether the issuer’s specific embodiment of “three innovations and four innovations” conforms to the positioning of gem in combination with business model, business growth, innovation ability and R & D transformation ability.

The main reason for the rejection of Huanyang shares: doubts about the financial authenticity

In February, in addition to the IPO failure of two companies on the gem, another rejected company was Ningbo Huanyang new materials Co., Ltd. (hereinafter referred to as Huanyang Co., Ltd.) from the main board. The main business of Huanyang Co., Ltd. is the R & D, production and sales of epichlorohydrin. The main product is epichlorohydrin, which accounts for more than 94% of the revenue, and the product structure is relatively single.

There are three major categories of issues raised by the CSRC on the IEC, involving independence and related party transactions, financial authenticity and sustainable profitability.

As for independence and related party transactions, Huanyang shares is related to Wanhua chlor alkali and Wanhua chemical. The CSRC requires Huanyang shares to explain: (1) the rationality of the free transfer of three patent application rights, whether there are other interest arrangements, and whether the issuer’s core technology is dependent on Wanhua chlor alkali; (2) Wanhua chlor alkali increased the capital of the issuer’s predecessor with the land use right, the reason and rationality of withdrawing soon after the capital increase, and the legality and compliance of the acquisition of the land use right; (3) The background and reasons why some indirect shareholders are employees of Wanhua chlor alkali and are held by Fang Fuliang; (4) The issuer’s purchase price of hydrogen chloride is significantly lower than the commercial rationality and sustainability of the third party. Is there any benefit transfer.

With regard to financial authenticity, the CSRC mainly focuses on Huanyang shares