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吴琪:扎根西藏 助计算物理在高原“加速”
Zhong Guo Qing Nian Bao· 2025-09-17 23:39
对吴琪来说,科研规划的最优选择,似乎是在香港毕业后,留在导师课题组或者去美国、新加坡继续做 两年博士后研究。然而,2014年11月,这个26岁的山东姑娘作出了一个令身边人惊讶的决定:到西藏 去,把理论物理的前沿方向带到高原。 扎根西藏10年,吴琪不仅成为西藏大学理论物理方向学科带头人,还带领团队利用计算优势加速西藏物 理材料基础研究。 "在西藏做科研如高原花草,成长得慢但一直前进" 从高中时期起,吴琪就喜欢上了物理,2006年,她考入山东大学物理学院学习,本科毕业后前往香港城 市大学,做理论物理领域的激发态动力学研究。 毕业前,吴琪受西藏大学邀请到学校工作。在此之前,吴琪曾去过一次西藏,"可能因为年轻,高原反 应并不明显"。她说,能适应西藏的环境,让她有了到高原工作的底气。因此,博士毕业后,吴琪便跟 随爱人一起来到西藏,成为西藏大学理学院的特聘教授。 "在西藏,不少研究领域和方向都是空白。"吴琪告诉中青报·中青网记者,当时西藏地区的材料物理、 理论计算物理等科研领域与内地经济和教育发达省份相比存在着明显差距。而她此前所从事的激发态动 力学研究,正是依托理论计算物理进行的。 面对巨大的学科发展水平差距,吴琪的科 ...
并购市场即将转向增量时代,中介机构怎么说?
2 1 Shi Ji Jing Ji Bao Dao· 2025-08-08 22:32
Group 1 - The core viewpoint of the discussions at the closed-door seminar "M&A Breakdown: Investment and Exit Games in the Era of Stock" highlights a shift in focus from due diligence and transaction design to litigation and dispute resolution in the M&A landscape since 2018 [1] - The investment in distressed asset funds has been a notable area of growth since 2018, with successful outcomes in property rights investment, debt investment, and bankruptcy restructuring [1] - Recent M&A activities have predominantly concentrated in sectors such as semiconductors, biomedicine, artificial intelligence, and new energy vehicles, which present valuation complexities due to their reliance on patents and R&D outcomes without immediate revenue generation [1] Group 2 - Traditional market methods like PE, PB, and PS are less applicable for early-stage valuations of companies in these sectors, leading to the adoption of alternative metrics such as equity value to GMV and equity value to R&D expenses [2] - For biomedicine companies, valuation methods must adapt to different R&D stages, utilizing techniques like binomial tree models or Monte Carlo simulations to meet listing requirements [2] - Cross-border M&A transactions, particularly involving A+H share companies with state-owned backgrounds, face significant operational challenges due to the need for triple regulatory approvals, highlighting the critical role of valuation firms in navigating these complexities [2]
专利并购陷估值困局?仲量联行刘小翠祭出三招
2 1 Shi Ji Jing Ji Bao Dao· 2025-07-31 05:08
Group 1 - The core viewpoint of the article highlights the challenges and opportunities in the M&A market, particularly focusing on sectors like semiconductors, biomedicine, artificial intelligence, and new energy vehicles, which have seen increased activity in recent years [1][2] - The complexity of valuation in these sectors is emphasized, as many companies possess significant patents and intangible assets but have not yet generated substantial revenue or profits, making traditional valuation methods less applicable [1] - Alternative valuation methods such as equity value to GMV ratio and equity value to R&D expenses ratio are suggested for better assessment in early-stage companies [1] Group 2 - The article discusses the operational difficulties in cross-border M&A, particularly for A+H share listed companies with state-owned backgrounds, which require multiple layers of regulatory approval [2] - It notes the differing regulatory logic among various authorities, with state-owned asset protection being a primary concern, leading to the necessity of using multiple valuation methods for cross-verification [2] - The article also points out the cautious approach of the Hong Kong market towards the income method, which requires additional documentation and can complicate the approval process [2]