Changing political and market conditions have disrupted energy security.European economies are planning to utilize their own resources of energy raw materials,including consideration of the advisability of returning a...Changing political and market conditions have disrupted energy security.European economies are planning to utilize their own resources of energy raw materials,including consideration of the advisability of returning abandoned coal resources to use.The research using the proposed methodology examined the impact of the ongoing mine closure processes on the potential ability to develop the remaining deposit.It was found that the greatest influence on the availability of unclosed shafts was the active concession to extract minerals from the deposit and the availability of unclosed main plant facilities.The assessment of the possibilities of coal resources management in the deposits of liquidated mines has not been the subject of extensive scientific research so far.The information obtained can be used as a reference point for detailed analysis and multi-criteria evaluation,after which the decision maker makes the decision.The method is designed for liquidated mines,but with certain modifications it can also be used by mining companies.展开更多
The extended trading close(ETC)provides institutional investors an opportunity to trade at the closing price after the regular trading session(RTS)and disclosing the order imbalances to other market participants.ETCs ...The extended trading close(ETC)provides institutional investors an opportunity to trade at the closing price after the regular trading session(RTS)and disclosing the order imbalances to other market participants.ETCs exist in the Nasdaq,the SSE STAR,the SZSE ChiNext and the TWSE.To help a risk-averse institutional investor take advantage of the RTS and the ETC for liquidation,we develop a multistage dynamic programming model including the ETC,and derive recursive solutions for the multiple trading days scenario with closed-form solutions for the scenario with only two trading days.We also verify that the ETC is able to mitigate extreme price movements caused by fast liquidation,which is also a goal of the ETC set out by the SSE STAR and the SZSE ChiNext.Finally,we derive three results.First,an institutional investor can reduce execution costs after the introduction of the ETC.Second,a critical trading day exists,and to avoid prematurely revealing trading intentions,the investor should not trade in the ETC until such day.Third,even though the ETC orders submitted by the investor are unfilled,implementation of the ETC encourages the investor to change the liquidation strategy in the RTS,which reduces extreme price movements.In summary,the practical implications of this paper are that the investor should not trade during the ETC on the front few days to avoid prematurely revealing the investor’s trading intention by unfilled orders in the ETC and that introducing the ETC can reduce liquidation costs and extreme price movements.展开更多
Doing business in China, while lucrative, can be a minefield to the uninitiated. This regular column by Deloitte will provide specific information to give businesspeople the tools they need to facilitate this process.
We propose a forward approach to study the performance of liquidation strategies under sequential model parameter updates.The forward liquidation program consists of pasting forward in time and in a time-consistent fa...We propose a forward approach to study the performance of liquidation strategies under sequential model parameter updates.The forward liquidation program consists of pasting forward in time and in a time-consistent fashion a series of optimal liquidation problems.They are triggered at the parameter shift instances,thus entirely eliminating model error,and last at most till the next parameter update.However,due to the nature of the model dynamics,solutions may cease to exist in finite time,even before the subsequent parameter update.Furthermore,forward liquidation strategies may never lead to full liquidation,even though they maximize the average utility of revenue and always preserve time-consistency.In juxtaposition,the traditional approach delivers full liquidation at the sought horizon but encounters considerable model error,generates value erosion,and is time-inconsistent.展开更多
Based on the minimum loss probability criterion,this paper discusses the optimal strategy in multi-asset liquidation.First,we give the framework of the multi-asset liquidation problem and obtain the boundary condition...Based on the minimum loss probability criterion,this paper discusses the optimal strategy in multi-asset liquidation.First,we give the framework of the multi-asset liquidation problem and obtain the boundary conditions of the optimal liquidation strategy under the assumption of linear price impact functions and transform the multi-asset liquidation problem into the portfolio liquidation problem.On this basis,the asymptotic solution and numerical solution of the optimal liquidation strategy are obtained.Then,we simulate the trajectories of the optimal liquidation strategy and analyze the effects of parameters changes.展开更多
This paper proposes a two-period model to examine which bankruptcy procedure is better for both the debtor and creditor when insolvency happens.Our theoretical model depicts how firm size,industry characteristics,equi...This paper proposes a two-period model to examine which bankruptcy procedure is better for both the debtor and creditor when insolvency happens.Our theoretical model depicts how firm size,industry characteristics,equity structure,and debt structure determine firms’bankruptcy resolutions.Using a comprehensive sample of bankrupt firms in the United States,we verify the predictions of a theoretical model.In our study,we deploy Probit and Logit models to address the predictions in the theoretical framework and conduct a series of robustness checks with econometric methods like Propensity Score Matching to confirm the empirical results.This paper finds that firms with larger size have more chance to file for Chapter 11 reorganization when insolvency happens.We also find that firms in asset-heavy(asset-light)industries are more likely to be reorganized(liquidated)under U.S.bankruptcy code.展开更多
In this work,we proposed a strategy for the hydrolysis of native corn starch after the treatment of corn starch in an ionic liquid aqueous solution,and it is an awfully“green”and simple means to obtain starch with l...In this work,we proposed a strategy for the hydrolysis of native corn starch after the treatment of corn starch in an ionic liquid aqueous solution,and it is an awfully“green”and simple means to obtain starch with low molecular weight and amorphous state.X-ray diffraction results revealed that the natural starch crystalline region was largely disrupted by ionic liquid owing to the broken intermolecular and intramolecular hydrogen bonds.After hydrolysis,the morphology of starch changed from particles of native corn starch into little pieces,and their molecular weight could be effectively regulated during the hydrolysis process,and also the hydrolyzed starch samples exhibited decreased thermal stability with the extension of hydrolysis time.This work would counsel as a powerful tool for the development of native starch in realistic applications.展开更多
The laboratory established an efficient reversed-phase ultra-high-performance liquid chromatographyquadrupole time-of-flight mass spectrometry(UPLC-Q-TOF-MS)qualitative method for screening more than 2000 kinds of ris...The laboratory established an efficient reversed-phase ultra-high-performance liquid chromatographyquadrupole time-of-flight mass spectrometry(UPLC-Q-TOF-MS)qualitative method for screening more than 2000 kinds of risk substances(including local anesthetics,LAs)in cosmetics,which has been successfully applied in the analysis of actual samples.This work aims to develop a more convenient high performance liquid chromatography triple quadrupole mass spectrometry(HPLC-QQQ-MS/MS)method for the quantitative determination of LAs.Samples were ultrasonically extracted with methanol,separated on an Agilent Poroshell 120 EC-C18 column(2.1 mm×100 mm,2.7μm),and eluted with a gradient mobile phase consisting of 0.1%formic acid aqueous solution and methanol.Quantification was performed using the external standard method.The results show that all 23 LAs are effectively separated within 12 minutes,with good linearity in the corresponding concentration ranges and the correlation coefficients all greater than 0.99.The limits of detection(LOD)range from 0.0025 to 0.05μg/g,and the limits of quantification(LOQ)range from 0.01 to 0.1μg/g.The average recoveries of the 23 LAs in 5 blank cosmetic matrices are 80.68%-117.57%,with the relative standard deviations(RSDs)less than 5.98%.This method has good precision and high accuracy,and is suitable for the determination of LAs in 5 cosmetic matrices.展开更多
Gas wells often encounter blockages in gas recovery channels owing to fluid accumulation during the later stages of extraction,which adversely affects subsequent recovery efforts.These undesirable conditions(e.g.,high...Gas wells often encounter blockages in gas recovery channels owing to fluid accumulation during the later stages of extraction,which adversely affects subsequent recovery efforts.These undesirable conditions(e.g.,high condensate content,high temperature,and high salinity)often affect foaming agent performance.In this study,surfactants were screened using an airflow method that closely resembles field treatment method.Notably,alcohol ether sulfates(AE_(n)S)with various polyoxyethylene(EO)units demonstrated exceptional performance in terms of liquid unloading efficiency and foam stability.At 80℃,the unloading efficiency of AE_(n)S with two EO units(AE_(2)S)in a high NaCl mass concentration(up to 200 g/L)and high condensate volume fraction(up to 20%)reached 84%.The dynamic surface tension and interfacial tension measured at the same temperature were used to analyze the influence of the diffusion rate and interfacial characteristics on the AE_(n)S foam,while the viscosity and liquid film thickness measurements reflected the mechanical strength and liquid-carrying capacity.In addition,transmission electron microscopy(TEM)revealed that AE_(2)S formed“dendritic”micellar aggregates at a high NaCl mass concentration,which significantly enhanced the viscosity and stability of the foam.The interactions among AE_(n)S,NaCl,and H2O were analyzed using molecular dynamics,and it was confirmed from a molecular mechanics perspective that a stable structure can form among the three,contributing to the foam stability.These findings demonstrate the significant potential of the AE_(2)S foam for gas well deliquification.展开更多
Separation of 2-methylfuran(2-MF)and methanol(MeOH)azeotropes is a key challenge in biofuel production because of the efficiency and sustainability issues of conventional methods.In this study,ionic liquids(ILs)were i...Separation of 2-methylfuran(2-MF)and methanol(MeOH)azeotropes is a key challenge in biofuel production because of the efficiency and sustainability issues of conventional methods.In this study,ionic liquids(ILs)were introduced as green solvents for separation of 2-MF/MeOH through liquid–liquid equilibrium(LLE)experiment.Three ILs,namely 1-ethyl-3-methylimidazole dihydrogen phosphate([EMIM][H_(2)PO_(4)]),1-propyl-3-methylimidazole dihydrogen phosphate([PMIM][H_(2)PO_(4)])and 1-butyl-3-methylimidazole dihydrogen phosphate([BMIM][H_(2)PO_(4)]),were screened out from 425 candidates using the conductor-like screening model for real solvents(COSMO-RS).Then,the ternary LLE data of 2-MF(1)+MeOH(2)+ILs(3)were determined at 30℃ and 101.32 kPa.Results confirmed[EMIM][H_(2)PO_(4)]as the best performer,achieving a selectivity of 343.86 and a distribution coefficient of 36.66 for MeOH—significantly higher than[PMIM][H_(2)PO_(4)]and[BMIM][H_(2)PO_(4)].The accuracy of the LLE data was verified by Othmer–Tobias and Hand equations(R^(2)>0.90).The non-random two liquid model was used to correlate the experimental data(RMSD<2%).Besides,the combination of electrostatic surfaces potential,independent gradient model based on Hirshfeld partition,mean square displacement and radial distribution functions revealed strong electrostatic interactions between[H_(2)PO_(4)]^(–) and MeOH.Interaction energy analysis further emphasizes the mechanism of MeOH separation from a mixture of 2-MF and MeOH by ILs.This work provides a multiscale strategy for the separation of 2-MF and MeOH azeotropes,highlighting the potential of ILs to improve biofuel purification while reducing energy and environmental costs.展开更多
Soft machines harness material-level physical intelligence to perform adaptive tasks,enabling advancements in biomedical and human-machine interaction fields.Soft switches are the basic building blocks to achieve inte...Soft machines harness material-level physical intelligence to perform adaptive tasks,enabling advancements in biomedical and human-machine interaction fields.Soft switches are the basic building blocks to achieve intelligent functions like autonomous decisions and mechanical computation.However,current soft switches suffer from complex fabrication processes,limited performance,and a lack of multimodal control,which hinder their practical application and the realization of machine intelligence.Herein,by harnessing the unique self-pinch and self-healing effects of the gallium-based liquid metals(LMs),we describe a soft high-performance electric switch composed of an LM line encapsulated within an elastomer.Applying pressure to deform the LM switch can increase local current density,leading to the electromagnetic self-pinch effect for switching off.After releasing pressure,the LM can spontaneously heal with the elastic recovery of the elastomer for switching on.This LM switch shows comprehensive advantages,including a compact design(0.5 mm×1.5 mm×10 mm),good stretchability(100%),high on/off ratio(~10^(9)),rapid response time(<100 ms),and excellent durability(>12000 cycles).Moreover,the LM switches enable multiple control modes,including magnetic and optical stimulation,through the integration of responsive materials.We demonstrate various LM switch-enabled functional soft machines,such as an interactive flexible gripper,a self-oscillating soft crawler,and wearable logic gates.This work will open new avenues for the application of LM in intelligent soft machines and advanced wearable electronics.展开更多
This study investigates the droplet formation for the liquid–liquid two-phase flow within a square T-junction microchannel through numerical simulation using volume of fluid method and experimental visualization usin...This study investigates the droplet formation for the liquid–liquid two-phase flow within a square T-junction microchannel through numerical simulation using volume of fluid method and experimental visualization using high-speed camera imaging.The T-junction microchannel has a cross-sectional width of 0.6 mm and a total length of 27.3 mm.The solution of cyclohexane with 2%and 3%mass concentrations of sorbitan trioleate surfactant were used as the continuous phase,and water was used as the dispersed phase.Slug flow,characteristic of squeezing regime,were predominantly observed.The effects of liquid–liquid two-phase flow rate ratio,and dimensionless number on droplet size,and pressure drop were investigated.The squeezing regime was mapped for 0.0005≤Ca_(c)≤0.0052(capillary number)and 0.1≤q≤10(flow rate ratio).The pressure drops of slugs were in the range from 40 Pa to 200 Pa.The slug lengths were measured between 1 mm and 9 mm.A universal flow map dependent on Ca_(c)Re_(d)^(0.5) are projected to investigate the droplet formation behavior in T-junction microchannel.Correlation expressions are proposed to predict pressure drops and the slug lengths for liquid–liquid two-phase flow in a square T-junction microchannel,using dimensionless numbers such as flow rate ratio and capillary number.The result shows that large continuous phase flow rates facilitate smaller slugs,whereas higher dispersed phase flow rates result in longer shorts.展开更多
As the global textile industry has accelerated its transition to a circular economy,iterative innovation in regenerated cellulose fibers has become a key industry focus.With viscose fiber having been industrialized fo...As the global textile industry has accelerated its transition to a circular economy,iterative innovation in regenerated cellulose fibers has become a key industry focus.With viscose fiber having been industrialized for over a century and lyocell fiber gaining market recognition because of its environmentally friendly process,which is the next regenerated cellulose fiber.Herein,ionic liquids with low vapor pressure,nonflammability,relatively simple recovery,and high dissolution efficiency were used to fabricate regenerated cellulose fibers.The viscose and lyocell properties of the fibers were systematically compared,including microscopic morphology,dyeing behavior,fibrillation resistance,mechanical properties,yarn-forming capacity,and fabric performance.The ionic liquid(IL)fiber exhibited a smooth surface and circular cross-section,with the highest tensile strength,moderate dyeing and fibrillation properties,and similar spinning and weaving performance.This work can provide a reference for the commercial application of regenerated cellulose fibers fabricated from ionic liquid.展开更多
The preparation of ionic liquid gel electrolyte can reduce the occurrence of side effects and extend battery life.In the DMSO-ILZE electrolyte composed of DMSO,1-ethyl-3-methylimidazole tetrafluoroborate(EMIMBF_(4))an...The preparation of ionic liquid gel electrolyte can reduce the occurrence of side effects and extend battery life.In the DMSO-ILZE electrolyte composed of DMSO,1-ethyl-3-methylimidazole tetrafluoroborate(EMIMBF_(4))and Zn(BF_(4))_(2),the supramolecular gelatorβ-cyclodextrin(β-CD)was added,and then a gel electrolyte(CD-ILZE)for zinc-ion batteries was prepared through host-vip interaction betweenβ-CD and DMSO-ILZE electrolyte.The gel electrolyte has good conductivity between-30 and 80℃,which is found by fitting the Arrhenius equation that the gel electrolyte satisfies the liquid law within this temperature range.In addition,the supramolecular gel electrolyte can effectively decrease hydrogen evolution corrosion and the formation of zinc dendrites.Compared with the battery prepared by DMSO-ILZE electrolyte(about 1100 h),the prepared Zn||Zn battery exhibits a more stable cycle(over 2800 h)at a current density of 0.5 m A·cm^(-2).At 0.1 A·g^(-1),the prepared Zn||V_(2)O_(5)gel electrolyte cell has a capacity of 30 m Ah·g^(-1)and a capacity retention rate of 85.17%after more than 1500 cycles.The CD-ILZE supramolecular gel electrolyte can inhibit the formation of hydrogen evolution corrosion and zinc dendrites,and improve the cycling performance of the battery.展开更多
Pediatric cancers are particularly significant due to their uncommon occurrence in children,driven by a variety of underlying factors.Because of their distinct molecular and genetic makeup,which makes early detection ...Pediatric cancers are particularly significant due to their uncommon occurrence in children,driven by a variety of underlying factors.Because of their distinct molecular and genetic makeup,which makes early detection challenging,they are linked to problems.Diagnostic methods like imaging and tissue biopsy are only effective when the tumor has reached a size that can be identified.The liquid biopsy technique,the least intrusive and most convenient diagnostic method,is the subject of this review.It focuses on the significance of single cell analysis in examining uncommon cancer types.The many biomarkers found in bodily fluids and the cancer types they are linked to in children have been assessed,as has the potential route towards early detection and cancer recurrence forecasting.Combining the single cell liquid biopsy with the newest technologies,such as computational and multi-omics approaches,which have improved the efficiency of processing massive and unique genetic data,appears promising.This article discusses on a number of case reports for uncommon pediatric malignancies,such as Neuroblastoma,Medulloblastoma,Wilms Tumor,Rhabdomyosarcoma,Ewing Sarcoma,and Retinoblastoma,as well as their liquid biopsy profiles.Furthermore,the findings raise ethical questions regarding the therapeutic application of the technology as well as possible difficulties related to clinical translation.The likelihood that this single cell liquid biopsy will be clinically validated and eventually used as a routine diagnostic tool for uncommon pediatric cancers will rise with the realistic approach to sensitivity monitoring,specificity upgrading,and optimization.展开更多
Joining magnesium(Mg)alloys to steel is difficult due to metallurgical incompatibility.Applying a zinc(Zn)coating to steel enables formation of a thin Mg-Zn eutectic phase layer during welding,which promotes strong bo...Joining magnesium(Mg)alloys to steel is difficult due to metallurgical incompatibility.Applying a zinc(Zn)coating to steel enables formation of a thin Mg-Zn eutectic phase layer during welding,which promotes strong bonding.However,in joints created with Friction-stir assisted scribe technology(FAST),this Mg-Zn eutectic phase layer occasionally extends from the interface to the surface of the Mg sheet.This phenomenon is attributed to the formation of a liquid-state Mg-Zn eutectic phase,coupled with the distinctive material flow induced by the FAST tool.Microstructural analysis confirmed that the Mg-Zn eutectic phase comprisesα-Mg and the Mg_(21)Zn_(25)intermetallic compound.Lap shear tensile tests revealed that when the Mg-Zn eutectic phase migration pathway aligned with the stir zone boundary,it led to reduced joint strength and premature fracture along the eutectic phase pathway.This indicates that liquid metal embrittlement(LME)occurred during FAST joining of Mg alloy and galvanized steel.These findings highlight the critical importance of controlling tool features and process parameters in FAST welding to prevent LME-related failures in dissimilar Mg/steel assemblies.展开更多
Dimethylphenols serve as important intermediates in synthesizing pharmaceuticals and agrochemicals,yet traditional distillation struggles to separate their isomers due to minimal boiling point differences,and the deve...Dimethylphenols serve as important intermediates in synthesizing pharmaceuticals and agrochemicals,yet traditional distillation struggles to separate their isomers due to minimal boiling point differences,and the development of melt crystallization is hampered by lacking solid–liquid equilibrium (SLE) data for some isomers.Therefore,the SLE data of both binary and ternary mixtures of 2,3-dimethylphenol (2,3-DMP),3,5-dimethylphenol (3,5-DMP),and 3,4-dimethylphenol (3,4-DMP) were determined by using differential scanning calorimetry in this work.Additionally,crystallographic analysis was conducted to investigate the thermodynamic characteristics of these mixtures.The experimental results indicated that all the systems investigated in this research exhibited eutectic behavior.The experimentally obtained SLE data were well correlated with the Wilson and non-random two-liquid models.The excess thermodynamic functions were calculated to analyze the types and intensities of the molecular interactions occurring in the mixtures.Furthermore,this study developed a model for the correlation between the theoretical crystallization yield and the actual cooling yield and final yield in melt crystallization.This study has furnished reliable data essential for developing and optimizing the melt crystallization process of mixtures of 2,3-DMP,3,5-DMP,and 3,4-DMP.展开更多
While desalination is a key solution for global freshwater scarcity,its implementation faces environmental challenges due to concentrated brine byproducts mainly disposed of via coastal discharge systems.Solar interfa...While desalination is a key solution for global freshwater scarcity,its implementation faces environmental challenges due to concentrated brine byproducts mainly disposed of via coastal discharge systems.Solar interfacial evaporation offers sustainable management potential,yet inevitable salt nucleation at evaporation interfaces degrades photothermal conversion and operational stability via light scattering and pathway blockage.Inspired by the mangrove leaf,we propose a photothermal 3D polydopamine and polypyrrole polymerized spacer fabric(PPSF)-based upward hanging model evaporation configuration with a reverse water feeding mechanism.This design enables zero-liquiddischarge(ZLD)desalination through phase-separation crystallization.The interconnected porous architecture and the rough surface of the PPSF enable superior water transport,achieving excellent solar-absorbing efficiency of 97.8%.By adjusting the tilt angle(θ),the evaporator separates the evaporation and salt crystallization zones via controlled capillary-driven brine transport,minimizing heat dissipation from brine discharge.At an optimal tilt angle of 52°,the evaporator reaches an evaporation rate of 2.81 kg m^(−2) h^(−1) with minimal heat loss(0.366 W)under 1-sun illumination while treating a 7 wt%waste brine solution.Furthermore,it sustains an evaporation rate of 2.71 kg m^(−2) h^(−1) over 72 h while ensuring efficient salt recovery.These results highlight a scalable,energy-efficient approach for sustainable ZLD desalination.展开更多
Metals,indispensable since the Bronze Age,remain pivotal in modern technologies due to their exceptional properties and versatility.Beyond traditional machining,advanced nano/micro-machining techniques enable the fabr...Metals,indispensable since the Bronze Age,remain pivotal in modern technologies due to their exceptional properties and versatility.Beyond traditional machining,advanced nano/micro-machining techniques enable the fabrication of metallic nano/micro structures with high precision in shape,size,and pattern.These structures endow flexible electrodes with outstanding electrical,mechanical,optical,and electrochemical performance,enabling growing applications in flexible optoelectronics,epidermal electronics,energy harvesting,and biochemical sensing.This review provides a comprehensive overview of the fabrication strategies for flexible electrodes made from metal meshes,metal nanowires,and liquid metals.The current advancements,existing challenges,and emerging technologies are systematically discussed.Furthermore,the progression toward ultra-thin,soft epidermal electrodes is explored,with an emphasis on novel in situ and transfer fabrication methods.We examine the underlying mechanisms,performance indicators,and their integration for on-skin applications,including bioelectric sensing,electrical stimulation,and energy harvesting.Finally,we highlight the remaining challenges in performance improvement and industrialization of flexible and epidermal electrodes,along with future opportunities for integrating multimodal systems and leveraging artificial intelligence to enhance their functionalities.展开更多
Structural engineering of Pt-based nanoalloys is crucial for the rational design and manufacturing of high-performance and low-cost electrocatalysts for hydrogen evolution reaction(HER).Here,we reported PtNi nanoparti...Structural engineering of Pt-based nanoalloys is crucial for the rational design and manufacturing of high-performance and low-cost electrocatalysts for hydrogen evolution reaction(HER).Here,we reported PtNi nanoparticles with a refined size of 2.71 nm and regular strains loaded on carbon black,synthesized using the high-temperature liquid shock(HTLS)method.This approach offers significant advantages over conventional synthesis methods,including high scalability,rapid reaction rates,and precise control over the size and shape of nanocrystals.Importantly,the synthesized PtNi electrocatalysts demonstrate outstanding catalytic activity and long-term stability for HER,achieving low overpotentials of 19 and 203 mV at current densities of 10 and 1000 mA/cm^(2),respectively.The superior performance can be attributed to the combination of a refined particle size,lattice strains,and synergistic effects between Pt and Ni.This rapid liquid-state synthesis demonstrated here holds great potential for scalable and industrial manufacturing of micro-/nano-catalysts.展开更多
文摘Changing political and market conditions have disrupted energy security.European economies are planning to utilize their own resources of energy raw materials,including consideration of the advisability of returning abandoned coal resources to use.The research using the proposed methodology examined the impact of the ongoing mine closure processes on the potential ability to develop the remaining deposit.It was found that the greatest influence on the availability of unclosed shafts was the active concession to extract minerals from the deposit and the availability of unclosed main plant facilities.The assessment of the possibilities of coal resources management in the deposits of liquidated mines has not been the subject of extensive scientific research so far.The information obtained can be used as a reference point for detailed analysis and multi-criteria evaluation,after which the decision maker makes the decision.The method is designed for liquidated mines,but with certain modifications it can also be used by mining companies.
文摘The extended trading close(ETC)provides institutional investors an opportunity to trade at the closing price after the regular trading session(RTS)and disclosing the order imbalances to other market participants.ETCs exist in the Nasdaq,the SSE STAR,the SZSE ChiNext and the TWSE.To help a risk-averse institutional investor take advantage of the RTS and the ETC for liquidation,we develop a multistage dynamic programming model including the ETC,and derive recursive solutions for the multiple trading days scenario with closed-form solutions for the scenario with only two trading days.We also verify that the ETC is able to mitigate extreme price movements caused by fast liquidation,which is also a goal of the ETC set out by the SSE STAR and the SZSE ChiNext.Finally,we derive three results.First,an institutional investor can reduce execution costs after the introduction of the ETC.Second,a critical trading day exists,and to avoid prematurely revealing trading intentions,the investor should not trade in the ETC until such day.Third,even though the ETC orders submitted by the investor are unfilled,implementation of the ETC encourages the investor to change the liquidation strategy in the RTS,which reduces extreme price movements.In summary,the practical implications of this paper are that the investor should not trade during the ETC on the front few days to avoid prematurely revealing the investor’s trading intention by unfilled orders in the ETC and that introducing the ETC can reduce liquidation costs and extreme price movements.
文摘Doing business in China, while lucrative, can be a minefield to the uninitiated. This regular column by Deloitte will provide specific information to give businesspeople the tools they need to facilitate this process.
文摘We propose a forward approach to study the performance of liquidation strategies under sequential model parameter updates.The forward liquidation program consists of pasting forward in time and in a time-consistent fashion a series of optimal liquidation problems.They are triggered at the parameter shift instances,thus entirely eliminating model error,and last at most till the next parameter update.However,due to the nature of the model dynamics,solutions may cease to exist in finite time,even before the subsequent parameter update.Furthermore,forward liquidation strategies may never lead to full liquidation,even though they maximize the average utility of revenue and always preserve time-consistency.In juxtaposition,the traditional approach delivers full liquidation at the sought horizon but encounters considerable model error,generates value erosion,and is time-inconsistent.
基金the National Natural Science Foundation of China(Grant No.71671017).
文摘Based on the minimum loss probability criterion,this paper discusses the optimal strategy in multi-asset liquidation.First,we give the framework of the multi-asset liquidation problem and obtain the boundary conditions of the optimal liquidation strategy under the assumption of linear price impact functions and transform the multi-asset liquidation problem into the portfolio liquidation problem.On this basis,the asymptotic solution and numerical solution of the optimal liquidation strategy are obtained.Then,we simulate the trajectories of the optimal liquidation strategy and analyze the effects of parameters changes.
基金This research is supported by National Natural Science Foundation of China[grant number 71531010].
文摘This paper proposes a two-period model to examine which bankruptcy procedure is better for both the debtor and creditor when insolvency happens.Our theoretical model depicts how firm size,industry characteristics,equity structure,and debt structure determine firms’bankruptcy resolutions.Using a comprehensive sample of bankrupt firms in the United States,we verify the predictions of a theoretical model.In our study,we deploy Probit and Logit models to address the predictions in the theoretical framework and conduct a series of robustness checks with econometric methods like Propensity Score Matching to confirm the empirical results.This paper finds that firms with larger size have more chance to file for Chapter 11 reorganization when insolvency happens.We also find that firms in asset-heavy(asset-light)industries are more likely to be reorganized(liquidated)under U.S.bankruptcy code.
文摘In this work,we proposed a strategy for the hydrolysis of native corn starch after the treatment of corn starch in an ionic liquid aqueous solution,and it is an awfully“green”and simple means to obtain starch with low molecular weight and amorphous state.X-ray diffraction results revealed that the natural starch crystalline region was largely disrupted by ionic liquid owing to the broken intermolecular and intramolecular hydrogen bonds.After hydrolysis,the morphology of starch changed from particles of native corn starch into little pieces,and their molecular weight could be effectively regulated during the hydrolysis process,and also the hydrolyzed starch samples exhibited decreased thermal stability with the extension of hydrolysis time.This work would counsel as a powerful tool for the development of native starch in realistic applications.
文摘The laboratory established an efficient reversed-phase ultra-high-performance liquid chromatographyquadrupole time-of-flight mass spectrometry(UPLC-Q-TOF-MS)qualitative method for screening more than 2000 kinds of risk substances(including local anesthetics,LAs)in cosmetics,which has been successfully applied in the analysis of actual samples.This work aims to develop a more convenient high performance liquid chromatography triple quadrupole mass spectrometry(HPLC-QQQ-MS/MS)method for the quantitative determination of LAs.Samples were ultrasonically extracted with methanol,separated on an Agilent Poroshell 120 EC-C18 column(2.1 mm×100 mm,2.7μm),and eluted with a gradient mobile phase consisting of 0.1%formic acid aqueous solution and methanol.Quantification was performed using the external standard method.The results show that all 23 LAs are effectively separated within 12 minutes,with good linearity in the corresponding concentration ranges and the correlation coefficients all greater than 0.99.The limits of detection(LOD)range from 0.0025 to 0.05μg/g,and the limits of quantification(LOQ)range from 0.01 to 0.1μg/g.The average recoveries of the 23 LAs in 5 blank cosmetic matrices are 80.68%-117.57%,with the relative standard deviations(RSDs)less than 5.98%.This method has good precision and high accuracy,and is suitable for the determination of LAs in 5 cosmetic matrices.
文摘Gas wells often encounter blockages in gas recovery channels owing to fluid accumulation during the later stages of extraction,which adversely affects subsequent recovery efforts.These undesirable conditions(e.g.,high condensate content,high temperature,and high salinity)often affect foaming agent performance.In this study,surfactants were screened using an airflow method that closely resembles field treatment method.Notably,alcohol ether sulfates(AE_(n)S)with various polyoxyethylene(EO)units demonstrated exceptional performance in terms of liquid unloading efficiency and foam stability.At 80℃,the unloading efficiency of AE_(n)S with two EO units(AE_(2)S)in a high NaCl mass concentration(up to 200 g/L)and high condensate volume fraction(up to 20%)reached 84%.The dynamic surface tension and interfacial tension measured at the same temperature were used to analyze the influence of the diffusion rate and interfacial characteristics on the AE_(n)S foam,while the viscosity and liquid film thickness measurements reflected the mechanical strength and liquid-carrying capacity.In addition,transmission electron microscopy(TEM)revealed that AE_(2)S formed“dendritic”micellar aggregates at a high NaCl mass concentration,which significantly enhanced the viscosity and stability of the foam.The interactions among AE_(n)S,NaCl,and H2O were analyzed using molecular dynamics,and it was confirmed from a molecular mechanics perspective that a stable structure can form among the three,contributing to the foam stability.These findings demonstrate the significant potential of the AE_(2)S foam for gas well deliquification.
基金supported by the National Natural Science Foundation of China(22278272)Natural Science Foundation of Liaoning Province(2024-MS-129).
文摘Separation of 2-methylfuran(2-MF)and methanol(MeOH)azeotropes is a key challenge in biofuel production because of the efficiency and sustainability issues of conventional methods.In this study,ionic liquids(ILs)were introduced as green solvents for separation of 2-MF/MeOH through liquid–liquid equilibrium(LLE)experiment.Three ILs,namely 1-ethyl-3-methylimidazole dihydrogen phosphate([EMIM][H_(2)PO_(4)]),1-propyl-3-methylimidazole dihydrogen phosphate([PMIM][H_(2)PO_(4)])and 1-butyl-3-methylimidazole dihydrogen phosphate([BMIM][H_(2)PO_(4)]),were screened out from 425 candidates using the conductor-like screening model for real solvents(COSMO-RS).Then,the ternary LLE data of 2-MF(1)+MeOH(2)+ILs(3)were determined at 30℃ and 101.32 kPa.Results confirmed[EMIM][H_(2)PO_(4)]as the best performer,achieving a selectivity of 343.86 and a distribution coefficient of 36.66 for MeOH—significantly higher than[PMIM][H_(2)PO_(4)]and[BMIM][H_(2)PO_(4)].The accuracy of the LLE data was verified by Othmer–Tobias and Hand equations(R^(2)>0.90).The non-random two liquid model was used to correlate the experimental data(RMSD<2%).Besides,the combination of electrostatic surfaces potential,independent gradient model based on Hirshfeld partition,mean square displacement and radial distribution functions revealed strong electrostatic interactions between[H_(2)PO_(4)]^(–) and MeOH.Interaction energy analysis further emphasizes the mechanism of MeOH separation from a mixture of 2-MF and MeOH by ILs.This work provides a multiscale strategy for the separation of 2-MF and MeOH azeotropes,highlighting the potential of ILs to improve biofuel purification while reducing energy and environmental costs.
基金financial support from the Natural Science Foundation of Jiangsu Province(BK20220859)the Jiangsu Provincial Scientific Research Center of Applied Mathematics(BK20233002)+2 种基金the Postgraduate Research&Practice Innovation Program of Jiangsu Province(KYCX24_0473)the SEU Innovation Capability Enhancement Plan for Doctoral Students(CXJH_SEU 24144)supported by Open Research Fund of State Key Laboratory of Analytical Chemistry for Life Science,School of Chemistry and Chemical Engineering,Nanjing University。
文摘Soft machines harness material-level physical intelligence to perform adaptive tasks,enabling advancements in biomedical and human-machine interaction fields.Soft switches are the basic building blocks to achieve intelligent functions like autonomous decisions and mechanical computation.However,current soft switches suffer from complex fabrication processes,limited performance,and a lack of multimodal control,which hinder their practical application and the realization of machine intelligence.Herein,by harnessing the unique self-pinch and self-healing effects of the gallium-based liquid metals(LMs),we describe a soft high-performance electric switch composed of an LM line encapsulated within an elastomer.Applying pressure to deform the LM switch can increase local current density,leading to the electromagnetic self-pinch effect for switching off.After releasing pressure,the LM can spontaneously heal with the elastic recovery of the elastomer for switching on.This LM switch shows comprehensive advantages,including a compact design(0.5 mm×1.5 mm×10 mm),good stretchability(100%),high on/off ratio(~10^(9)),rapid response time(<100 ms),and excellent durability(>12000 cycles).Moreover,the LM switches enable multiple control modes,including magnetic and optical stimulation,through the integration of responsive materials.We demonstrate various LM switch-enabled functional soft machines,such as an interactive flexible gripper,a self-oscillating soft crawler,and wearable logic gates.This work will open new avenues for the application of LM in intelligent soft machines and advanced wearable electronics.
基金supports for this project from the National Natural Science Foundation of China(22378295).
文摘This study investigates the droplet formation for the liquid–liquid two-phase flow within a square T-junction microchannel through numerical simulation using volume of fluid method and experimental visualization using high-speed camera imaging.The T-junction microchannel has a cross-sectional width of 0.6 mm and a total length of 27.3 mm.The solution of cyclohexane with 2%and 3%mass concentrations of sorbitan trioleate surfactant were used as the continuous phase,and water was used as the dispersed phase.Slug flow,characteristic of squeezing regime,were predominantly observed.The effects of liquid–liquid two-phase flow rate ratio,and dimensionless number on droplet size,and pressure drop were investigated.The squeezing regime was mapped for 0.0005≤Ca_(c)≤0.0052(capillary number)and 0.1≤q≤10(flow rate ratio).The pressure drops of slugs were in the range from 40 Pa to 200 Pa.The slug lengths were measured between 1 mm and 9 mm.A universal flow map dependent on Ca_(c)Re_(d)^(0.5) are projected to investigate the droplet formation behavior in T-junction microchannel.Correlation expressions are proposed to predict pressure drops and the slug lengths for liquid–liquid two-phase flow in a square T-junction microchannel,using dimensionless numbers such as flow rate ratio and capillary number.The result shows that large continuous phase flow rates facilitate smaller slugs,whereas higher dispersed phase flow rates result in longer shorts.
基金financially supported by the National Natural Science Foundation of China(Nos.22005226 and 52203124)Center for Carbon Neutral Chemistry,Institute of Chemistry,Chinese Academy of Sciences(No.CCNC-202402)+1 种基金the Basic and Advanced Research Project from Wuhan Science and Technology Bureau(No.2022013988065201)Hubei Integrative Technology and Innovation Center for Advanced Fiberous Materials,project(No.XC2024G3013)。
文摘As the global textile industry has accelerated its transition to a circular economy,iterative innovation in regenerated cellulose fibers has become a key industry focus.With viscose fiber having been industrialized for over a century and lyocell fiber gaining market recognition because of its environmentally friendly process,which is the next regenerated cellulose fiber.Herein,ionic liquids with low vapor pressure,nonflammability,relatively simple recovery,and high dissolution efficiency were used to fabricate regenerated cellulose fibers.The viscose and lyocell properties of the fibers were systematically compared,including microscopic morphology,dyeing behavior,fibrillation resistance,mechanical properties,yarn-forming capacity,and fabric performance.The ionic liquid(IL)fiber exhibited a smooth surface and circular cross-section,with the highest tensile strength,moderate dyeing and fibrillation properties,and similar spinning and weaving performance.This work can provide a reference for the commercial application of regenerated cellulose fibers fabricated from ionic liquid.
文摘The preparation of ionic liquid gel electrolyte can reduce the occurrence of side effects and extend battery life.In the DMSO-ILZE electrolyte composed of DMSO,1-ethyl-3-methylimidazole tetrafluoroborate(EMIMBF_(4))and Zn(BF_(4))_(2),the supramolecular gelatorβ-cyclodextrin(β-CD)was added,and then a gel electrolyte(CD-ILZE)for zinc-ion batteries was prepared through host-vip interaction betweenβ-CD and DMSO-ILZE electrolyte.The gel electrolyte has good conductivity between-30 and 80℃,which is found by fitting the Arrhenius equation that the gel electrolyte satisfies the liquid law within this temperature range.In addition,the supramolecular gel electrolyte can effectively decrease hydrogen evolution corrosion and the formation of zinc dendrites.Compared with the battery prepared by DMSO-ILZE electrolyte(about 1100 h),the prepared Zn||Zn battery exhibits a more stable cycle(over 2800 h)at a current density of 0.5 m A·cm^(-2).At 0.1 A·g^(-1),the prepared Zn||V_(2)O_(5)gel electrolyte cell has a capacity of 30 m Ah·g^(-1)and a capacity retention rate of 85.17%after more than 1500 cycles.The CD-ILZE supramolecular gel electrolyte can inhibit the formation of hydrogen evolution corrosion and zinc dendrites,and improve the cycling performance of the battery.
文摘Pediatric cancers are particularly significant due to their uncommon occurrence in children,driven by a variety of underlying factors.Because of their distinct molecular and genetic makeup,which makes early detection challenging,they are linked to problems.Diagnostic methods like imaging and tissue biopsy are only effective when the tumor has reached a size that can be identified.The liquid biopsy technique,the least intrusive and most convenient diagnostic method,is the subject of this review.It focuses on the significance of single cell analysis in examining uncommon cancer types.The many biomarkers found in bodily fluids and the cancer types they are linked to in children have been assessed,as has the potential route towards early detection and cancer recurrence forecasting.Combining the single cell liquid biopsy with the newest technologies,such as computational and multi-omics approaches,which have improved the efficiency of processing massive and unique genetic data,appears promising.This article discusses on a number of case reports for uncommon pediatric malignancies,such as Neuroblastoma,Medulloblastoma,Wilms Tumor,Rhabdomyosarcoma,Ewing Sarcoma,and Retinoblastoma,as well as their liquid biopsy profiles.Furthermore,the findings raise ethical questions regarding the therapeutic application of the technology as well as possible difficulties related to clinical translation.The likelihood that this single cell liquid biopsy will be clinically validated and eventually used as a routine diagnostic tool for uncommon pediatric cancers will rise with the realistic approach to sensitivity monitoring,specificity upgrading,and optimization.
基金PNNL is operated by Battelle Memorial Institute for the U.S.Department of Energy under contract DE-AC05-76RL01830sponsored by the DOEEERE,Vehicle Technology Office,through the Joining Core Program.
文摘Joining magnesium(Mg)alloys to steel is difficult due to metallurgical incompatibility.Applying a zinc(Zn)coating to steel enables formation of a thin Mg-Zn eutectic phase layer during welding,which promotes strong bonding.However,in joints created with Friction-stir assisted scribe technology(FAST),this Mg-Zn eutectic phase layer occasionally extends from the interface to the surface of the Mg sheet.This phenomenon is attributed to the formation of a liquid-state Mg-Zn eutectic phase,coupled with the distinctive material flow induced by the FAST tool.Microstructural analysis confirmed that the Mg-Zn eutectic phase comprisesα-Mg and the Mg_(21)Zn_(25)intermetallic compound.Lap shear tensile tests revealed that when the Mg-Zn eutectic phase migration pathway aligned with the stir zone boundary,it led to reduced joint strength and premature fracture along the eutectic phase pathway.This indicates that liquid metal embrittlement(LME)occurred during FAST joining of Mg alloy and galvanized steel.These findings highlight the critical importance of controlling tool features and process parameters in FAST welding to prevent LME-related failures in dissimilar Mg/steel assemblies.
基金funded by the National Natural Science Foundation of China(22308358,22208346,22421003)IPE Project for Frontier Basic Research(QYJC-2023-05)CAS Project for Young Scientists in Basic Research(YSBR-038).
文摘Dimethylphenols serve as important intermediates in synthesizing pharmaceuticals and agrochemicals,yet traditional distillation struggles to separate their isomers due to minimal boiling point differences,and the development of melt crystallization is hampered by lacking solid–liquid equilibrium (SLE) data for some isomers.Therefore,the SLE data of both binary and ternary mixtures of 2,3-dimethylphenol (2,3-DMP),3,5-dimethylphenol (3,5-DMP),and 3,4-dimethylphenol (3,4-DMP) were determined by using differential scanning calorimetry in this work.Additionally,crystallographic analysis was conducted to investigate the thermodynamic characteristics of these mixtures.The experimental results indicated that all the systems investigated in this research exhibited eutectic behavior.The experimentally obtained SLE data were well correlated with the Wilson and non-random two-liquid models.The excess thermodynamic functions were calculated to analyze the types and intensities of the molecular interactions occurring in the mixtures.Furthermore,this study developed a model for the correlation between the theoretical crystallization yield and the actual cooling yield and final yield in melt crystallization.This study has furnished reliable data essential for developing and optimizing the melt crystallization process of mixtures of 2,3-DMP,3,5-DMP,and 3,4-DMP.
基金supported by National Key Research and Development Program of China(2022YFB3804902,2022YFB3804900)the National Natural Science Foundation of China(52203226,52161145406,42376045)the Fundamental Research Funds for the Central Universities(2232024Y-01,2232025D-02).
文摘While desalination is a key solution for global freshwater scarcity,its implementation faces environmental challenges due to concentrated brine byproducts mainly disposed of via coastal discharge systems.Solar interfacial evaporation offers sustainable management potential,yet inevitable salt nucleation at evaporation interfaces degrades photothermal conversion and operational stability via light scattering and pathway blockage.Inspired by the mangrove leaf,we propose a photothermal 3D polydopamine and polypyrrole polymerized spacer fabric(PPSF)-based upward hanging model evaporation configuration with a reverse water feeding mechanism.This design enables zero-liquiddischarge(ZLD)desalination through phase-separation crystallization.The interconnected porous architecture and the rough surface of the PPSF enable superior water transport,achieving excellent solar-absorbing efficiency of 97.8%.By adjusting the tilt angle(θ),the evaporator separates the evaporation and salt crystallization zones via controlled capillary-driven brine transport,minimizing heat dissipation from brine discharge.At an optimal tilt angle of 52°,the evaporator reaches an evaporation rate of 2.81 kg m^(−2) h^(−1) with minimal heat loss(0.366 W)under 1-sun illumination while treating a 7 wt%waste brine solution.Furthermore,it sustains an evaporation rate of 2.71 kg m^(−2) h^(−1) over 72 h while ensuring efficient salt recovery.These results highlight a scalable,energy-efficient approach for sustainable ZLD desalination.
基金supported by the Basic and Applied Basic Research Foundation of Guangdong province(2024A1515030155 and 2022A1515010272)Natural Science Foundation of China(61904067)+2 种基金Basic and Applied Basic Research Foundation of Guangzhou city(202102020758)Open funding from State Key Laboratory of Optoelectronic Materials and Technologies(Sun Yat-Sen University,OEMT2022-KF-08)Fundamental Research Funds for the Central Universities(11625109,11621405)。
文摘Metals,indispensable since the Bronze Age,remain pivotal in modern technologies due to their exceptional properties and versatility.Beyond traditional machining,advanced nano/micro-machining techniques enable the fabrication of metallic nano/micro structures with high precision in shape,size,and pattern.These structures endow flexible electrodes with outstanding electrical,mechanical,optical,and electrochemical performance,enabling growing applications in flexible optoelectronics,epidermal electronics,energy harvesting,and biochemical sensing.This review provides a comprehensive overview of the fabrication strategies for flexible electrodes made from metal meshes,metal nanowires,and liquid metals.The current advancements,existing challenges,and emerging technologies are systematically discussed.Furthermore,the progression toward ultra-thin,soft epidermal electrodes is explored,with an emphasis on novel in situ and transfer fabrication methods.We examine the underlying mechanisms,performance indicators,and their integration for on-skin applications,including bioelectric sensing,electrical stimulation,and energy harvesting.Finally,we highlight the remaining challenges in performance improvement and industrialization of flexible and epidermal electrodes,along with future opportunities for integrating multimodal systems and leveraging artificial intelligence to enhance their functionalities.
基金supported by the National Natural Science Foundation of China(No.12205165)Hebei Province Innovation Ability Improvement Plan Project(No.225676111H).
文摘Structural engineering of Pt-based nanoalloys is crucial for the rational design and manufacturing of high-performance and low-cost electrocatalysts for hydrogen evolution reaction(HER).Here,we reported PtNi nanoparticles with a refined size of 2.71 nm and regular strains loaded on carbon black,synthesized using the high-temperature liquid shock(HTLS)method.This approach offers significant advantages over conventional synthesis methods,including high scalability,rapid reaction rates,and precise control over the size and shape of nanocrystals.Importantly,the synthesized PtNi electrocatalysts demonstrate outstanding catalytic activity and long-term stability for HER,achieving low overpotentials of 19 and 203 mV at current densities of 10 and 1000 mA/cm^(2),respectively.The superior performance can be attributed to the combination of a refined particle size,lattice strains,and synergistic effects between Pt and Ni.This rapid liquid-state synthesis demonstrated here holds great potential for scalable and industrial manufacturing of micro-/nano-catalysts.
