On June 21, according to news from the Sichuan Regulatory Bureau of the China Securities Regulatory Commission, Huatai United Securities recently announced that the domestic semiconductor IP supplier Chengdu Ruichengxin Micro Technology Co., Ltd. (hereinafter referred to as “Ruichengxin Micro”) IPO and Progress report on the guidance of listing on the Science and Technology Innovation Board (Phase 1). On January 29, 2021, Huatai United Securities and Ruichengxin Micro signed the “Chengdu Ruichengxin Micro Technology Co., Ltd. and Huatai United Securities Co., Ltd. Initial Public Offering Counseling Agreement.” The Sichuan Supervision Bureau submitted the application documents of Ruichengxin Micro’s IPO counseling and filing. According to data, Ruichengxin Micro was established in 2011, dedicated to the design and authorization of integrated circuit intellectual property (IP) products, and provides one-stop services, with the goal of becoming a world-class integrated circuit IP provider with innovative capabilities and trustworthiness. Relying on independent semiconductor IP, we provide customers with platform-based semiconductor IP authorization services and one-stop chip design services. The products include ultra-low power analog IP, embedded non-volatile memory IP, and high-performance radio frequency IP. Semiconductor IP has applied for more than 200 patents at home and abroad, serving hundreds of integrated circuit design companies around the world. Products are widely used in 5G, Internet of Things, smart home, automotive electronics, smart power supplies, wearables, medical electronics, industrial control and other fields. As early as 2016, Ruichengxin Micro launched a complete set of ultra-low power analog IP design solutions based on 55nm process, and cooperated with partners to develop the world’s first MCU chip with the lowest power consumption of 7nA; in 2017, Ruichengxin Micro and China’s top 3 integrated circuit design companies jointly developed the world’s lowest power consumption, mass-produced NB-IoT chip; in 2018, based on the domestic Foundry 153nm, CMOS process, successfully verified LogicFlash that meets the requirements of automotive electronics Grade0, and tested more than 200,000 times Erasing, high temperature resistance 175℃, service life up to 11 years. This technology has also been adopted by international automotive electronics companies for many years, and has registered the LogicFlash trademark in the United States and Japan. On April 28, 2020, Ruichengxin Micro announced the completion of the acquisition of Chengdu Shengxin Micro Technology Co., Ltd. (SYDTEK), a wireless communication chip designer. According to the progress report of the sci-tech innovation board listing guidance work, the actual controller of Ruicheng Xinwei is Xiang Jianjun, with a shareholding ratio of 35.59%. The shareholders include Zhuhai Apex Microelectronics Co., Ltd., BYD Co., Ltd., Suzhou Juyuan Oriental Investment Fund Center, Datang Telecom Investment Co., Ltd. and other enterprises and investment institutions. It is worth noting that, recently, the Ministry of Industry and Information Technology announced the list of recommended and supported national-level specialized and new “little giant” enterprises and national (or provincial) public service demonstration platforms for small and medium-sized enterprises (the first batch of the first year), Ruichengxin Micro also successfully made the list. Editor: Xinzhixun-Rurouni Sword

1. Follow the policy and continue to promote the “incremental expansion, quality improvement and cost reduction” of inclusive finance

In terms of “increment”, as of April this year, Zhuhai Bank of China Inclusive Finance (statistical caliber: small and micro enterprises, small and micro business owners, and individual industrial and commercial households with credits of less than 10 million yuan) loan balances were 3.578 billion yuan, a net increase of 934 million that year Yuan, an increase of 35.33%.

In terms of “expansion”, in the first April of this year, Zhuhai Bank of China’s inclusive small and micro enterprises have a net increase of 103 loan holders, a net increase of 32.19% that year. At the same time, the Bank of China in Zhuhai took the initiative to strengthen the policy transmission of the “first lender” and achieved first loans for 35 small and micro enterprises.

In terms of “quality improvement,” BOC Zhuhai optimized credit conditions, increased credit and medium- and long-term loans, and effectively reduced the pressure of guarantees and repayments for small and micro enterprises.As of Aprilend, The bank’s inclusive small and micro enterprise credit loan balance was 1.428 billion yuan, a net increase of 51.11% that year; the inclusive small and micro enterprise’s medium and long-term loan balance was 1.406 billion yuan, a net increase of 73.79% that year.

In terms of “cost reduction”, Zhuhai Bank of China implemented a loan-and-repay, daily-calculated interest calculation rule for inclusive small and micro enterprises, and provided interest rate concessions for companies that comply with the inclusive financial rules.In the first 4 months, the annualized interest rate of inclusive small and micro enterprise loans issued by the bank was higher than that of the previous year.endContinue to steadily drop by 0.38 percentage points.

2. Tailor financing schemes for small and micro enterprises of science and technology innovation in accordance with local conditions

Based on the characteristics and advantages of the local technology and innovation industry and high-end talent pooling, BOC Zhuhai closely focuses on the “14th Five-Year Plan”, “Guangdong-Hong Kong-Macao Greater Bay Area Development Plan Outline” and Zhuhai’s “5+1” industrial layout plan, targeting high-tech enterprises , Technology-based enterprises, and “specialized, special-new” enterprises took the lead in launching the “Zhuhai Science and Technology Innovation Loan” series of products, and innovatively launched the “Zhuhai Yingcai Loan” around the “Zhuhai Yingcai Plan”.These characteristic products abandon the traditional credit concept of “look at the bricks (collateral)”, and use pure credit, equity pledge, intellectual property pledge, government risk sharing and other methods to provide high-tech content and lightassets, Start-up small and micro enterprises provide convenient and flexible financing solutions.

Since September 2020, Zhuhai Bank of China and Zhuhai Municipal Bureau of Industry and Information Technology have jointly implemented the “Cultivation and Development” jointly formulated by Guangdong Provincial Department of Industry and Information Technology and Guangdong Bank of China.Strategic industryCluster Exclusive Financing Service Program”, launched six series of products, including “Strong Chain Loan”, “Extended Chain Loan”, “Supplementary Chain Loan”, “Smart Loan”, “Park Loan”, and “Chuangke Loan”. Provide support for the high-quality development of the manufacturing industryGuarantee.

Based on the innovation of product and service solutions, BOC Zhuhai has also cooperated with Zhuhai Municipal Bureau of Industry and Information Technology, Zhuhai Municipal Science and Technology Bureau and other government units in recent years. 11 special platforms were held on the theme of “Corporate Financing and Smart South Guangdong Tour”activity, To provide comprehensive services of “policy guidance + financing support” for more than 600 small and micro sci-tech innovation enterprises.

Under the dual promotion of products and services, as of Aprilend, The balance of loans to small and micro enterprises in science and technology innovation of the Bank of China in Zhuhai was 1.633 billion yuan, compared with the previous yearendAn increase of 46.59%; the number of loan households was 326, compared with the previous yearendAn increase of nearly 32%. With the support of these loans, more than 10 companies have grown from small and micro to medium-sized, and have launched a listing plan.

3. Precise drip irrigation to enrich people’s livelihoodGuaranteeSmall and micro enterprise credit scenario

Zhuhai Bank of China closely follows policy guidance and market demand, and spares no effort to improve its impact on people’s livelihoodGuaranteeThe service capabilities of similar small and micro enterprises. After the outbreak of the new crown pneumonia in 2020, the Bank of China in Zhuhai responded swiftly and issued the first special re-loan in Zhuhai with the exclusive product of the “anti-epidemic loan”. The total number is 12FocusThe small and micro enterprises in the guarantee list issued 68.17 million yuan of special reloans, and the number and amount of special reloans issued by small and micro enterprises ranked first in the city. At the same time, it has approved a special quota of 552 million yuan for 55 small and micro enterprises related to epidemic prevention, provided 421 million yuan of special funds for 123 small and micro enterprises that need to resume work and production, and approved a special quota of more than 60 million yuan for resumption of work and school for 17 kindergartens. .

Entering 2021, Zhuhai Bank of China will give full play to people’s livelihoods such as “Medical Tongbao”, “Education Tongbao”, “Cultural Tongbao”, “Chunhui Loan”, and “Food Loan”.GuaranteeThe advantages of similar financing service scenarios have continuously expanded the scope of drip irrigation.As of Aprilend, The bank’s balance of loans to small and micro enterprises in the field of people’s livelihood was 228 million yuan, compared with the previous yearendIncreased by more than 20%. Currently, BOC Zhuhai is working with the Zhuhai Municipal Human Resources and Social Security Bureau to implement the “Promoting “Cantonese Cuisine Master”, “Guangdong Skilled Workers”, and “Southern Guangdong Housekeeping” Project to Promote Employment and Entrepreneurship Exclusive Financing Service Plan, in order to meet the needs of the modern industrial system Skilled talents are provided to solve financing problems.

4. Optimize the mechanism to improve the efficiency of inclusive financial services in an all-round way

At the level of institutional services, Zhuhai Bank of China, based on the needs of small and micro enterprises, has established 9 central sub-branches with initiation authority and 3 characteristic branches of inclusive finance throughout its jurisdiction to fully accept the financing needs of small and micro enterprises.

At the level of acceptance and approval, the Bank of China in Zhuhai cooperated with the Inclusive Finance Business Department of the Guangdong Branch of Bank of China to hold regular on-site review meetings in Zhuhai, with the theme of “branch initiation + branch acceptance + provincial approval”Level 3The linkage method integrates the pre-loan investigation, project declaration and credit approval processes in time and space, greatly improving service efficiency.

At the financial technology level, Zhuhai Bank of China will launch the inclusive financial business “online product breakthrough year” in 2021activity, Using the “Bank of China Enterprise E-Loan” series of products as a starting point, providing small and micro enterprises in different industries with diversified credit acquisition channels such as “measured by credit”, “measured by tax” and “measured by house”.

In the next stage, Zhuhai Bank of China will continue to make efforts in the field of inclusive finance, and give full play to the group’s advantages to provide local small and micro enterprises with more warm and in-depth diversified services.

1. Follow the policy and continue to promote the “incremental expansion, quality improvement and cost reduction” of inclusive finance

In terms of “increment”, as of April this year, Zhuhai Bank of China Inclusive Finance (statistical caliber: small and micro enterprises, small and micro business owners, and individual industrial and commercial households with credits of less than 10 million yuan) loan balances were 3.578 billion yuan, a net increase of 934 million that year Yuan, an increase of 35.33%.

In terms of “expansion”, in the first April of this year, Zhuhai Bank of China’s inclusive small and micro enterprises have a net increase of 103 loan holders, a net increase of 32.19% that year. At the same time, the Bank of China in Zhuhai took the initiative to strengthen the policy transmission of the “first lender” and achieved first loans for 35 small and micro enterprises.

In terms of “quality improvement,” BOC Zhuhai optimized credit conditions, increased credit and medium- and long-term loans, and effectively alleviated the pressure of guarantees and repayment for small and micro enterprises.As of Aprilend, The bank’s inclusive small and micro enterprise credit loan balance was 1.428 billion yuan, a net increase of 51.11% that year; the inclusive small and micro enterprise’s medium and long-term loan balance was 1.406 billion yuan, a net increase of 73.79% that year.

In terms of “cost reduction”, Zhuhai Bank of China implemented a loan-and-repay, daily-calculated interest calculation rule for inclusive small and micro enterprises, and provided interest rate concessions for companies that comply with the inclusive financial rules.In the first 4 months, the annualized interest rate of inclusive small and micro enterprise loans issued by the bank was higher than that of the previous year.endContinue to steadily drop by 0.38 percentage points.

2. Tailor financing schemes for small and micro enterprises of science and technology innovation in accordance with local conditions

Based on the characteristics and advantages of the local technology and innovation industry and high-end talent pooling, BOC Zhuhai closely focuses on the “14th Five-Year Plan”, “Guangdong-Hong Kong-Macao Greater Bay Area Development Plan Outline” and Zhuhai’s “5+1” industrial layout plan, targeting high-tech enterprises , Technology-based enterprises, and “specialized, special-new” enterprises took the lead in launching the “Zhuhai Science and Technology Innovation Loan” series of products, and innovatively launched the “Zhuhai Yingcai Loan” around the “Zhuhai Yingcai Plan”.These characteristic products abandon the traditional credit concept of “look at the bricks (collateral)”, and use pure credit, equity pledge, intellectual property pledge, government risk sharing and other methods to provide high-tech content and lightassets, Start-up small and micro enterprises provide convenient and flexible financing solutions.

Since September 2020, Zhuhai Bank of China and Zhuhai Municipal Bureau of Industry and Information Technology have jointly implemented the “Cultivation and Development” jointly formulated by the Guangdong Provincial Department of Industry and Information Technology and Guangdong Bank of China.Strategic industryCluster Exclusive Financing Service Program”, launched six series of products, including “Strong Chain Loan”, “Extended Chain Loan”, “Supplementary Chain Loan”, “Smart Loan”, “Park Loan”, and “Chuangke Loan”. Provide support for the high-quality development of manufacturingGuarantee.

Based on the innovation of product and service solutions, BOC Zhuhai has also cooperated with Zhuhai Municipal Bureau of Industry and Information Technology, Zhuhai Municipal Science and Technology Bureau and other government units in recent years, with “investment-loan linkage through train”, “BOC Small and Micro Enterprise Digital Credit Core Linking Heart”, and “BOC Small and Medium-Sized Enterprises”. 11 special platforms were held on the theme of “Corporate Financing and Smart South Guangdong Tour”activity, To provide comprehensive services of “policy guidance + financing support” for more than 600 small and micro sci-tech innovation enterprises.

Under the dual promotion of products and services, as of Aprilend, Zhuhai Bank of China’s loan balance for science and innovation small and micro enterprises was 1.633 billion yuan, compared with the previous yearendAn increase of 46.59%; the number of loan households was 326, compared with the previous yearendAn increase of nearly 32%. With the support of these loans, more than 10 companies have grown from small and micro to medium-sized, and have launched a listing plan.

3. Precise drip irrigation to enrich people’s livelihoodGuaranteeSmall and micro enterprise credit scenario

Zhuhai Bank of China closely follows policy guidance and market demand, and spares no effort to improve its impact on people’s livelihoodGuaranteeThe service capabilities of similar small and micro enterprises. After the outbreak of the new crown pneumonia in 2020, the Bank of China in Zhuhai responded swiftly and issued the first special re-loan in Zhuhai with the exclusive product of the “anti-epidemic loan”. The total number is 12FocusThe small and micro enterprises in the guarantee list issued 68.17 million yuan of special reloans, and the number and amount of special reloans issued by small and micro enterprises ranked first in the city. At the same time, it has approved a special quota of 552 million yuan for 55 epidemic prevention-related small and micro enterprises, provided 421 million yuan of special funds for 123 small and micro enterprises that need to resume work and production, and approved a special quota of more than 60 million yuan for resumption of work and school for 17 kindergartens. .

Entering 2021, Zhuhai Bank of China will give full play to people’s livelihoods such as “Medical Tongbao”, “Education Tongbao”, “Cultural Tongbao”, “Chunhui Loan”, and “Food Loan”.GuaranteeThe advantages of similar financing service scenarios have continuously expanded the scope of drip irrigation.As of Aprilend, The bank’s balance of loans to small and micro enterprises in the field of people’s livelihood was 228 million yuan, compared with the previous yearendIncreased by more than 20%. At present, BOC Zhuhai is working with Zhuhai Municipal Human Resources and Social Security Bureau to implement the “Promoting “Cantonese Cuisine Master”, “Guangdong Technician” and “Southern Guangdong Housekeeping” Project to Promote Employment and Entrepreneurship Exclusive Financing Service Plan” to meet the high-quality requirements of the modern industrial system Skilled talents are provided to solve financing problems.

4. Optimize the mechanism to improve the efficiency of inclusive financial services in an all-round way

At the level of institutional services, Zhuhai Bank of China, based on the needs of small and micro enterprises, has established 9 central sub-branches with initiation authority and 3 characteristic branches of inclusive finance throughout its jurisdiction to fully accept the financing needs of small and micro enterprises.

At the level of acceptance and approval, the Bank of China in Zhuhai cooperated with the Inclusive Finance Business Department of the Guangdong Branch of Bank of China to hold regular on-site review meetings in Zhuhai, with the theme of “Branch Initiation + Branch Acceptance + Provincial Bank Approval”Level 3The linkage method integrates the pre-loan investigation, project declaration and credit approval processes in time and space, greatly improving service efficiency.

At the financial technology level, Zhuhai Bank of China will launch the inclusive financial business “online product breakthrough year” in 2021activity, Using the “Bank of China Enterprise E-Loan” series of products as a starting point, providing small and micro enterprises in different industries with diversified credit acquisition channels such as “measured by credit”, “measured by tax” and “measured by house”.

In the next stage, Zhuhai Bank of China will continue to make efforts in the field of inclusive finance, and give full play to the group’s advantages to provide local small and micro enterprises with more warm and in-depth diversified services.

At the time of HNA Group’s bankruptcy and reorganization, its biggest weight-loss action-the sale of its Ingram Micro International to a US investment institution-is causing market controversy.

HNA Technology (600751.SH) acquired Ingram Micro for approximately US$6 billion a few years ago, but at the end of last year decided to sell this company with annual revenue of US$49 billion. According to HNA Technology’s plan, Ingram Micro’s sale and delivery will be completed at the end of June this year. However, this plan is now full of variables.

A few days ago, HNA Technology suddenly decided to postpone the extraordinary general meeting of shareholders originally scheduled to be held on June 14 to June 24. Whether Ingram Micro’s sale plan can be passed by a vote at the general meeting of shareholders is the key to determining the success of the transaction.

Morgan Stanley Finance noted that opposition has been brewing before the convening of this shareholder meeting. The resolution of the board of directors disclosed by HNA Technology on May 31 showed that the relevant proposal to sell Ingram Micro International was voted against by a director when the board of directors passed a vote. This director is Zhu Yingfeng, the representative of HNA Technology’s second largest shareholder Guohua Life Insurance. .

Guohua Life Insurance is also a joint investor in HNA Technology’s acquisition of Ingram Micro International, holding more than 30% of Ingram Micro’s equity. Zhu Yingfeng believes that Ingram Micro has “continued and stable growth in profits in recent years, which is a rare and valuable high-quality asset” and listed companies should “further seek buyers with high-quality quotations and better safeguard the interests of listed companies.”

The implication is that Guohua Life Insurance feels that Ingram Micro is now being “sold at a low price.” The sale of Ingram Micro International is valued at 5.891 billion yuan, slightly lower than the purchase price that year, but Ingram Micro’s net profit in 2020 has more than tripled compared to a few years ago.

Small and medium investors of HNA Technology also continue to express their opposition in online communities such as “Stock Bar”. In addition to their dissatisfaction with the price of Ingram Micro, they also have concerns about the future of HNA Technology. Ingram Micro is the entire source of HNA Technology’s revenue. After the sale, the listed company will become a “shelf company”. Although major shareholders promised to inject new assets within this year, they experienced the injection of poor quality Yanjing Hotel The miscarriage turmoil, combined with the current situation of HNA Group, is not unreasonable for the concerns of small and medium investors.

HNA currently holds nearly 30% of HNA Technology, while Guohua Life holds 14.33%. Other shareholders hold very scattered shares. This also means that if the two parties engage in a game at the level of the general meeting of shareholders, whether small and medium investors “group together” will be the biggest variable affecting Ingram Micro’s sales transaction.

Ambition

Ten years ago, the HNA Group, which had just exceeded 100 billion in annual revenue, took advantage of the global economic downturn and frantically bought overseas assets. One of the goals was to reach 600 billion in revenue in 2016, and another goal. It will be in the top 100 of the world’s top 500 in 2020.

By 2016, HNA Group has successfully entered the world’s top 500, but the revenue scale is about 200 billion yuan, which is still far from the ambitious goal. In December of that year, HNA Group under Wang Jian’s presidency acquired Ingram Micro International, the world’s largest IT distribution and supply chain service provider, through its listed company HNA Technology (then Tianhai Investment) for US$5.982 billion (approximately 41.3 billion yuan).

The predecessor of HNA Technology was Tianjin Shipping, a listed company engaged in shipping. In 2008, the HNA Department became the master, and in 2015 it was renamed Tianhai Investment. The shipping business of Tianhai Investment has been sluggish for a long time and is small in scale. After completing a fixed increase of 12 billion yuan at the end of 2014, it was almost a “cash company”. The funds were originally planned to acquire shipping assets such as oil tankers and LNG ships, but the shipping industry was in a downturn. , Tianhai Investment turned to seek “industrial upgrading” and acquired Ingram Micro International in 2016.

Ingram Micro has a global supply chain and channel network, and has strategic synergies with the logistics supply chain and HNA cargo that HNA was trying to develop at that time. Ingram Micro’s annual revenue reached more than 40 billion U.S. dollars. This transaction helped HNA Group’s revenue hit 600 billion yuan. The following year’s Fortune 500 ranking also soared to 170.

After Ingram Micro was acquired by HNA Technology, it accounted for more than half of HNA Group’s revenue for a long time. If the main aviation business of HNA Group is airframes, Bohai Leasing, with the largest assets, and HNA Technology, with the largest revenue, are the two “flanks” that support HNA’s take-off.

HNA also demonstrated brilliant financial skills in the acquisition of Ingram Micro. Among the 12 billion yuan fixed increase at the end of 2014, HNA Logistics (later renamed HNA Technology Group) invested 3.6 billion yuan, leveraging the 8.4 billion yuan of external funds from four institutions-Guohua Life Insurance participated in this fixed amount of 2.5 billion yuan. Increased and became the second largest shareholder of a listed company. The 8.4 billion yuan invested by the external fixed increase agency was originally planned to be used to buy oil tankers and ships, and later became the main fund for the acquisition of Ingram Micro.

The investment structure of HNA Technology’s acquisition of Ingram Micro International shows that HNA Technology used its own funds of 8.7 billion yuan (that is, the remaining funds in 2014), Guohua Life Insurance invested 4 billion yuan, and the rest were bank loans (7-year period). The scale is US$4.27 billion. This means that the HNA Department used almost all other people’s money in this blockbuster acquisition of nearly 6 billion U.S. dollars.

The calculation of HNA Technology’s acquisition was to use Ingram Micro’s profits to cover interest expenses. At that time, it was estimated that the annual interest expenses would be between US$128 million and US$171 million. In fact, Ingram Micro’s business performance has been stable since then, and profits and dividends have increased year by year. A total of US$880 million has been distributed from 2017 to 2020. In the same period, the actual interest expenses of M&A loans paid by HNA Technology totaled US$770 million.

However, HNA Group soon fell into a liquidity crisis, and there were problems in repaying the principal of the syndicated loan. At the end of 2017, it was overdue when the first maturity loan principal of USD 400 million was repaid, and the payment was completed several months later. As of the end of last year, HNA Technology’s outstanding M&A loan principal amounted to US$3.68 billion, and in March 2018, another US$500 million in convertible notes was issued for “borrowing the new to repay the old”, bringing the total outstanding liability principal to US$4.18 billion. . Among them, the principal amount of the syndicated loan of USD 1.35 billion was extended to May 5 this year, and the renewal is still proceeding after the outstanding payment.

In this case, HNA Technology can only choose to sell Ingram Micro to relieve debt pressure.

Ingram Micro

After the outbreak of the liquidity crisis of HNA Group, the overseas assets it had acquired in the past have been sold off one after another. In December last year, under the pressure of HNA Group’s difficulties to resolve risks and HNA Technology’s own difficulties in repaying the syndicated loan, HNA Technology launched a plan to sell Ingram Micro International at a valuation of US$5.826 billion. The purchaser was Platinum Capital, a US private equity investment institution. (Platinum Equity).

On May 31 this year, HNA Technology officially disclosed the “Major Asset Sale Draft”, adjusting Ingram Micro’s valuation to US$5.891 billion. The draft revealed that assuming July 2 as the delivery date, the purchaser’s cash payment consideration is estimated to be approximately US$1.588 billion.

In the transaction plan for the sale of Ingram Micro International, HNA Technology also designed a lock-box mechanism and an additional payment consideration mechanism. The cash payment consideration on the delivery day was further calculated on the basis of US$5.9 billion for value adjustments before delivery. Mechanism, if Ingram Micro’s adjusted EBITDA for the 2021-2023 fiscal year is between US$1.215 billion and US$135 million, HNA Technology can obtain up to US$325 million in additional payment consideration.

But in fact, HNA Technology’s confidence in obtaining additional consideration is not enough. HNA Technology initially predicts Ingram Micro’s adjusted EBITDA for 2021-2023 to be US$1.204 billion, US$1.211 billion, and US$1.225 billion. According to the predicted performance, HNA Technology can only get very little additional consideration.

On the surface, the sale price of HNA is not much different from the purchase price. However, if the five-year interest cost is taken into account, the actual loss between HNA’s purchase and sale is huge, which is even more unacceptable for the co-investor Guohua Life Insurance.

Regardless of the cost of capital, only the estimated cash recovered of US$1.588 billion (equivalent to 10.36 billion yuan) after the sale is calculated, the Shanghai Biaoji partnership consisting of HNA Technology and Guohua Life Insurance will lose more than 2 billion yuan in principal. Shanghai Standard Base Partnership holds 100% equity of Tianhai Logistics and then holds Ingram Micro International, while Guohua Life Insurance holds 31.496% of the LP share of Shanghai Standard Base.

In addition, when Guohua Life Insurance acquired HNA Technology in 2014, the fixed price increase was 5.98 yuan per share. It was hoped that through the acquisition of Ingram Micro International, the performance and stock price of listed companies would increase, but now HNA Technology’s latest share price is 3.43 yuan per share. Shares, Guohua Life’s 2.5 billion investment principal has also lost 42.7%.

Under this circumstance, the selling price of Ingram Micro became the focus of questions from Guohua Life Insurance and small and medium investors.

Controversy over “cheap sale”

Has Ingram Micro been “selled” at all?

As the world’s largest IT distributor, Ingram Micro has 189 logistics centers and maintenance service centers around the world, with an annual shipment volume of more than 1.5 billion pieces and operations in more than 160 countries. Ingram Micro’s IT distribution business covers most of the IT product market segments, and provides downstream customers with inventory management and supply chain financial services. In addition, it is also involved in mobile devices and life cycle services, e-commerce supply chain solutions, and cloud services. . In 2018, Ingram Micro and Microsoft jointly launched the cloud business platform CloudBlue, which provides cloud operation services to more than 150 largest service providers in the world, and has become the world’s largest cloud business platform.

HNA Technology mentioned in the reason for sale that “in recent years, the global IT distribution industry has intensified competition and increased concentration. With the changes in the global shipment pattern of IT products and the 2020 epidemic, the industry has shown certain volatility.” HNA Technology did not It is mentioned that Ingram Micro’s profitability has improved significantly after entering cloud services in recent years.

As early as the acquisition of Ingram Micro International, HNA Technology had already foreseen the boost to Ingram Micro’s profitability by the cloud service business, and pointed out at the shareholders meeting in May 2017 that the leading IT supply chain company in the industry, For example, Ingram Micro, Arrow Electronics, Avnet, Synergy, etc., have entered the cloud service market through acquisitions and other means, “which can improve profitability and avoid financial pressure caused by business expansion.”

In terms of performance, Ingram Micro’s revenue scale and profitability have been stable in recent years, and its operating status has remained stable. From 2017 to 2020, Ingram Micro’s revenue was 46.675 billion, 50.437 billion, 47.197 billion and 49.12 billion US dollars, and net profit was 199 million US dollars, 352 million US dollars, 505 million US dollars, and 644 million US dollars.

It can be seen that benefiting from the outstanding performance of the cloud service business, Ingram Micro’s profit level has increased rapidly in the past two years, especially when cloud services are more widely used after the epidemic, Ingram Micro has demonstrated high-quality assets. Background color.

It should be pointed out that Ingram Micro is the entire source of HNA Technology’s revenue, but the profit performance of the two is not consistent. In 2020, Ingram Micro’s net profit hit a record high, but HNA Technology suffered a huge loss of 9.788 billion yuan. The main reason was that listed companies provided joint guarantees for HNA Group and other related parties, which resulted in a provision of 5.02 billion yuan in losses and the provision of Ingram Micro’s goodwill. The impairment affects the profit of 6.029 billion yuan.

In the first quarter of this year, boosted by the positive performance of Ingram Micro International, HNA Technology achieved a net profit of 620 million yuan, setting the best performance in recent years.

Ingram Micro’s performance continues to improve, and has improved significantly from the time of the acquisition. Why did HNA Technology sell it at a valuation loss of US$5.891 billion?

The reason given by HNA Technology is that when a listed company acquired Ingram Micro International in 2016, the transaction price was not based on the evaluation results, but was negotiated and determined after comprehensive consideration of various factors. In addition, the valuation of Ingram Micro International is reasonable. After comparing Arrow Electronics and similar companies in the same industry, according to the EV/EBITDA valuation method, the average valuation multiple of comparable companies is 6.6 times and the median value is 6.2 times. , Ingram Micro is 6.3 times.

However, opposition voices also pointed out that In Micro International and its peers Arrow Electronics (ARRW) and Synergy (SNX), the net profits of the three companies last year were US$644 million, US$584 million, and 529 million (as of 2020/11). /30), the revenue scale and profit level of the latter two are lower than Ingram Micro’s, with P/E ratios of 12 times and 14 times respectively, but Ingram Micro’s P/E ratio for sales valuation is only 9 times. If valued at a price-to-earnings ratio of 13 times, Ingram Micro is worth about 8.4 billion U.S. dollars. The current market value of Arrow and Synergy is 8.9 billion and 6.7 billion U.S. dollars, respectively.

Outsiders believe that HNA sells Ingram Micro at the current price, mainly eager to resolve debt pressure and financial risks, and promote the bankruptcy and reorganization of HNA Group, but it is unfair to the co-investors and small and medium shareholders of HNA Technology. After the board of directors voted against the transaction plan, Guohua Life Insurance appealed to HNA to continue to contact buyers with higher bids based on market principles.

It is worth mentioning that Platinum Capital, the acquirer of Ingram Micro, disclosed that the total consideration of the transaction was US$7.2 billion, which is not consistent with the transaction value disclosed by HNA Technology. Platinum Capital also disclosed that it will provide US$4.05 billion in funding for the acquisition. At the same time, JP Morgan, Bank of America, Morgan Stanley and other syndicates pledged to provide US$3.5 billion in loans to pay for the transaction consideration, and also pledged to provide US$3.5 billion in circulation. loan.

Endgame

Many small and medium shareholders are opposed to this sale because they are worried that HNA Technology will become a shell company in the future or be injected with low-quality assets.

HNA Group initially had a great strategic vision for HNA Technology, but after the acquisition of Ingram Micro International, the subsequent layout has been weak. In 2018, HNA Technology put out a plan of 7.5 billion yuan to acquire Dangdang. However, it will inevitably fail in the end.

As of the end of 2020, HNA Technology’s total assets are 121.6 billion yuan, and Ingram Micro’s total assets are 112.1 billion yuan, accounting for 92.17% of the total assets of listed companies. Ingram Micro’s 2020 revenue will account for 100% of HNA Technology’s revenue.

HNA Technology pointed out in the sale plan that after the IT supply chain business is placed, the listed company will relieve debt pressure and financial burden, concentrate resources on strategic and business transformation, and enhance the company’s ability to continue operating.

Just before the sale of Ingram Micro International, on December 4, 2020, HNA Technology decided to increase its assets such as 91.6% equity in Tianhai Shipping and 90% equity in Zhuhai Beiyang Shipping, plus 2 billion yuan in capital increase, and through the Haichuang Baichuan Fund with HNA Group 100% of the shares held by Yanjing Hotel will be replaced.

The net assets of Yanjing Hotel are -870 million yuan, with an estimated value of 2.13 billion yuan and an appreciation of up to 3 billion yuan. In addition, there are three cases of Yanjing Hotel using its own houses and land use rights to provide HNA Aviation Group and related party HNA Tourism Group with a total amount of 2 billion yuan. Beiyin Financial Leasing has seized the corresponding assets in 2019 , So it’s not a “clean” asset.

After being subject to regulatory inquiries and external doubts, on May 19, 2021, HNA Technology announced that it would cancel the proposal to submit the asset replacement proposal to the first extraordinary general meeting of shareholders for consideration.

HNA Technology promises to continue to inject new assets. In the major asset sale draft disclosed by HNA Technology on May 31, HNA Technology and the directors, supervisors and senior executives of listed companies except Zhu Yingfeng promised that the listed company will complete the asset placement by December 31, 2021. HNA Technology Group, Grand China Logistics, and HNA Group promised to assist listed companies in completing asset placement.

However, given the current situation of the HNA system, whether there is still the ability to inject high-quality and clean assets into HNA Technology is a big question mark. On January 30, 2021, HNA Group was filed for bankruptcy and reorganization; on March 15, HNA Technology’s controlling shareholder HNA Technology Group, NPC Xinhua Logistics and related shareholder Shanghai Shangrong Supply Chain were ruled by the court for reorganization. A total of 29.45% of the shares of listed companies are held.

After the bankruptcy and reorganization of HNA Group, it is introducing strategic investors for its three core businesses (aviation, airport and commercial retail), corresponding to HNA Holdings (ST HNA 600221.SH) and HNA Foundation (ST Basis 600515.SH). And supply and marketing big set (*ST big set 000564.SZ) three listed companies. This is also the highest quality asset of HNA Group.

It is worth mentioning that when HNA Technology acquired Ingram Micro in 2016, the shipping industry was in a downturn. However, due to the impact of the epidemic on global inventories last year, the shipping industry is re-entering the business cycle. However, the shipping business of HNA Technology is currently very weak. Only in the first half of 2021, it purchased two 176,000-ton Cape-type bulk carriers (145.5 million yuan each), with a total capacity of only more than 300,000 tons.

After the sale of Ingram Micro, how to revive the main business of HNA Technology will obviously be another big problem.

But many Covid-19 tests can give results within hours without sending the sample to a lab, and most of these tests use an approach called microfluidics. What are microfluidics? A microfluidics system is any device that handles small amounts of liquid. Fluid moves through channels thinner than a hair, and tiny valves can turn the flow on and off. These channels are made of materials such as glass, polymers, paper or gel. One of the ways to move liquids is to use a mechanical pump; another way is to use the surface charge of certain materials; and one more way is to use so called capillary action – commonly known as wick. One thing is clear, every nook and cranny of the human body is microfluidic. We could not be born or function without complex blood capillaries that carry food, oxygen, and signaling molecules to every cell. Like microelectronics, size is a key factor in microfluids. As components get smaller, devices can rely on the exotic properties of liquids on a small scale, can work faster, more efficiently, and have cheaper manufacturing costs. The microfluidics revolution has been quietly shouldering microelectronics technology. Another major benefit of microfluidic devices is that they require only a very small amount of liquid and can therefore be very small in size. NASA has been considering using microfluidic analyzers for their long Mars missions. The analysis of precious liquids – such as human blood – also benefits from the ability to use small samples. Example: A glucose meter is a super liquid instrument that requires only one drop of blood to measure a diabetic’s blood sugar. Chances are you have been using microfluidics quite often in your life. Inkjet printers shoot out tiny droplets of ink. The 3D printer extrudes the molten polymer through a microfluidic nozzle. A nebulizer for asthma patients will spray out tiny droplets of medicine. The pregnancy test relies on the flow of urine in a microfluidic strip of paper. In scientific research, microfluids can direct drugs, nutrients or any liquid to very specific parts of an organism to more accurately simulate biological processes. The future of microfluidics Microfluidics will be key to bringing medicine into a new, fast-paced, affordable era. Wearables that measure substances in sweat to track fitness progress and implantable devices that help deliver cancer drugs locally to a patient’s tumor are some of the next frontiers in microbiology. biomedical liquid. Researchers are developing complex, fascinating microfluidic systems called organs on a chip that aim to simulate different aspects of human physiology. In laboratories around the world, teams are developing tumor-on-chip platforms to test more effective cancer drugs. These patient-representative chips will allow scientists to test new treatments in a way that doesn’t entail the cost, suffering, and ethical issues associated with animal or human testing. Imagine going to the doctor, taking a biopsy sample and, in less than a week, using the scientists’ microfluidic device, the doctor can figure out which drug is most effective to remove the mass. your u. While that is still in the future, what we do know is that microfluidic will be an integral part of the future.

Japanese story
Mr. Okuda Naohiko – Department of Administrative Management, Ministry of Home Affairs of Japan said: “Coping with the Covid-19 epidemic has raised many problems related to digital transformation in Japan such as:“ Transition delay numbers and authorities, businesses lack human resources; ineffective administrative management due to inadequate system connection; complicated administrative procedures and late payments; service decline for people, digital transformation in businesses and society ”.
That is how digital transformation in Japan is to ensure safety for people in natural disasters and epidemics. To basically solve the above problem, the Japanese Government has decided to reform the regulations in a comprehensive way, removing vertical administrative management. “A breakthrough is the establishment of the Digital Agency (Digital Agency), expected to be established in September 2021” – Mr. Okuda Naohiko said. Japanese IT engineers in an office robot digitizing research lab. The Digital Department is the focal point to promote digital transformation in Japan, playing a key role in digital government in the coming time. This is the organization leading the digital transformation in the entire society in Japan, and it is expected that this process will take about 2 years.
Mr. Okuda Naohiko said that human-friendly digital transformation is the goal of Japan in the digital transformation process in this country, while giving 10 basic principles in the direction to digital society: Open / Ming Transparent, Fair / Ethical, Safe / Peace of Mind, Continuity / Stable / Strengthened, Solving social problems; Fast / Flexible; Inclusion / Diversity, Entry into life, Creating new value; Leap Forward / Contribution to the international community.
In that context, in 2010, the Research Institute of NTT Corporation developed WinActor – a Japanese RPA tool that allows automatic operation on most Windows-based applications such as Excel, Word, Outlook, browser, BPM… to business systems. This tool has created a revolution in the office work, thereby opening the door to “reform the way of working”.
Mr. Naritoshi Masuda, CEO of NTT DATA Vietnam said: “WinActor, a RPA (Robotic Process Automation) solution researched and developed by NTT Group Japan, has won the leading market share in the Japanese market for 5 years. consecutively since 2016.

And we enter Vietnam market in 2017, WinActor will be one of the solutions in Digital Transformation (DX) to help businesses accelerate digitization and automation to improve their competitiveness. and customer experience. ”
In the future, if RPA can be operated on systems equipped with AI or RPA itself has AI functions, RPA can perform more complex and advanced jobs. By 2025, one third of office workload will be done by RPA, which will become a trump card in the digital transformation revolution.
Thai model
In Southeast Asia, Thailand is seen as a model of digital transformation in terms of progress and practice. Thailand is implementing the 5-year transition plan (2017 – 2022). The government has come up with an ambitious plan to digitally transform the entire public system, from public administration to tourism assistance, natural disaster warning, and improved agricultural efficiency. This is a very focused, ambitious and appropriate plan for this country.
It is no coincidence that the first step on Thailand’s digital transformation journey is to implement the e-government development strategy 4.0, in order to realize the four main contents that have been introduced by the Electronic Government Agency (EGA). Government Development Plan No. Thailand is determined to: 1. Build an Integrated Government, which includes information integration and governance among state agencies, towards the goal of establishing an efficient, one-to-one sharing service. Government score of citizenship. 2. Smart operation, using information and communication technology (ICT) and related technologies, through Big Data and Internet of Things (IoT) to support the work of civil servants. 3. Make the people the center of service delivery, to provide services based on the needs of each citizen. 4. Promote transformation, focus on organizational change across multiple dimensions, have specific development strategies and be implemented by the EGA, including human resources, workflows, technology and legislation .
Ministry of Digital Economy and Social Affairs, EGA holds a key position in the integration of infrastructure, data and digitalization efforts of the Government of Thailand. The Ministry of Science and Technology of Thailand nationally supports the portal “Farmer One”, which provides agricultural production processes for businesses such as: Registration for cultivation, contacting input materials, consulting. pictures of selling prices of each agricultural product …
Thailand has built a business portal “Biz Portal” to reduce costs of businesses in issuing business licenses, reporting human resources, permits, insurance, or registering for construction permits, and sending connection requests. electricity and water … In order to solve the human resource problem for the public sector, Thailand has established the Digital Transformation Academy – which specializes in training technology knowledge for public officials. In addition, the EGA also aims to improve technical infrastructure with the aim of improving the quality of public services and increasing people’s satisfaction with government programs.
4 number shift spikes of Malaysia
Each country has different digital transformation strategies, different goals. The Malaysian government is now vigorously promoting digital transformation with four main spearheads: Industry 4.0, smart travel, smart education and safe cities. This is considered as the main key for Malaysia to accelerate development, towards the goal of reaching the top 20 economies in the world by 2050.
Malaysia builds four national goals: Increase labor efficiency; Increase investment contribution to GDP; Capacity building for innovation; There are more human resources with higher skills. To achieve these goals, Malaysia is stepping up the search for human resources related to artificial intelligence (AI) and enhancing solutions for faster and more technology exposure, creating a platform. high-end industry and more developed.
Digital transformation is a global trend. Research firm McKensey said, about 4 years (2025), the level of impact of digital transformation on GDP of the US is about 25%, while in European countries it is about 36%. A survey from Singapore, if the ASEAN countries convert strongly, by 2030 ASEAN GDP will add 1,000 billion USD. For Vietnam, if the digital transformation is completed as planned, by 2030, our GDP will increase by 100 billion USD. “In addition to RPA, NTT DATA Vietnam wants to approach Hanoi and the Government of Vietnam to jointly introduce new IT solutions, promote e-government and smart cities.” – NTT DATA Vietnam CEO Naritoshi Masuda

An apartment with an area of ​​50 square meters in Moscow, Russia by a single engineer was completed in 2019 by a group of architects. The space is divided into 2 main parts. The first part is the open space kitchen and living room, the second part is the bedroom and the working space. Even so, the apartment space is perceived as a whole. The apartment is 50m2 wide. The cooking area is not visible from the living room but hidden behind the bar in the middle of the room. The kitchen is compact but still fully furnished. The living room and kitchen are separated from the bedroom by a light plywood partition. The walls are fitted with LED tubes, programmed to be controlled manually, that can create different lighting effects. The budget is limited, so the decision for materials, the technical options of finishing the apartment are simple. The owner has actively participated in the project from design to interior installation. As an engineer, he gave technical solutions. The homeowner has chosen natural materials for the furniture such as wood, micro cement and natural paint. Concrete ceiling is designed simply and eye-catching. The owner of the apartment was filled with paintings, decorations and lots of plants.

Russian long-range radar system. “It is known that the lower the frequency range, the greater the penetrability of the waves, so our radar shooting can be done not only through clouds, fog but also under foliage and camouflage vehicles. . Accordingly, if a forest can be optically photographed under ideal conditions, our radar will be able to penetrate the foliage and be able to see any objects in the scanning area. ” Said Ilya Kuzmin, engineer of the Institute of Micro Devices and Control Systems called LN Presnukhina of NRU MIET. With the help of radar, it is possible to generate images not only of the visible surface but also to give its extensive interpretation, determining, for example, the state of soil and vegetation. By attaching the platform to an aircraft or drone, it is possible to capture volcanic eruptions, earthquakes or collapsing buildings. The new radar-controlled aircraft will provide images from which not only can the scale of the disaster be assessed, but also the detailed examination of objects. This development could also serve as the basis for satellite radars and applications in both scientific and military research. In the future, the satellite could carry out radar surveys on large areas of the country and around the world. The new radar can also be useful in agriculture for tracking crop growth, soil conditions and even fruit ripeness. During ice exploration in the Arctic and Antarctic conditions, the radar will determine the thickness of the ice and suggest routes that the icebreaker can take. In addition, the new radar system can help monitor the pipeline and oil pipeline. Radar is not, of course, an instant image projection camera; These are the reflected signals that are digitally recorded on a hard disk and processed by software, explains Ilya Kuzmin. At the same time with the revelation of new radar technology, Russia has also put into service the first unmanned radar system to monitor all flight activities in an area of ​​300,000 km2. General Andrei Koban, Commander of the Radio Technical Force of the Russian Aerospace Forces, said that each system is equipped with 20 radar modules. Each module can scout an area with a radius of 450km. “Integrated radar system with 20 modules, automatically control the aircraft’s operation over an area of ​​300,000 km2”, said General Koban. In addition to airspace control, the Nablyudatel radar is responsible for navigation, providing flight routes for aircraft that pass through the area in which it operates. General Koban also affirmed that this is the first radar system in history that can operate fully automatically without anyone participating in the control. Currently, Russia has deployed at least two Nablyudatel complexes to areas with the highest and most complex air traffic traffic.

Prof, Dr. Dao Van Long shared scientific information about digestive diseases. Facing the fact that the rate of missing lesions in gastrointestinal endoscopy is still high, one of the reasons is due to the patient’s colon cleansing process is not up to the standard, the Digestive Research and Training Institute, the liver. honey has researched and released the application “colon cleansing” on Android and iOS platforms. These are the information shared by Professor, Dr. Dao Van Long – former Director of Hanoi Medical University Hospital, former head of the gastroenterology department of Bach Mai Hospital, the Founding Council of the Digestive and Hepatology Research and Training Institute. at the launching ceremony of facility 2 of Hoang Long General Clinic on April 21st morning. According to Professor Dao Van Long, this is the first phone application in Vietnam to go deeply into the field of endoscopy to support patient guidance. Accordingly, when going to a colonoscopy and examination, the patient will download this application and directly manipulate the phone to monitor the entire colon cleaning process in the most detailed way. According to statistics, gastrointestinal and hepatobiliary diseases currently account for about 30% of the total number of patients visiting medical facilities, but the ability to respond is limited, and the number of endoscopists can only respond. corresponding to 5% – 10% of the population. Every day in large centers, there are more than 300 cases of endoscopy that can lead to missed lesions and endoscopic quality is not really guaranteed, there is a risk of infection from endoscopy. Therefore, the application of artificial intelligence (AI) in health in general and gastrointestinal endoscopy in particular is not only suitable for the current trend, but also a necessary direction for the medical industry by Great benefits such as contributing to improving the detection rate, avoiding missing injuries as well as saving human resources for health are currently in short supply. Currently, the Digestive and Hepatobiliary Research and Training Institute has initially developed software to apply artificial intelligence in endoscopy to detect colon polyps in Vietnam. When put into operation, the application will contribute to meeting the needs of screening and screening for polyps and colon cancer in our country, while enhancing Vietnam’s medical technology with new and progressive steps. more, comparable to regional and international. In particular, with the introduction of the new Fuji 7000 endoscopy system featuring advanced image magnification up to 290 times, LCI / BLI multi-beam technology combines short-wavelength light and white light for images. The high contrast of microchips and microstructure of the mucosal surface helps detect cancer in an early stage, even very early, but if endoscopy with white light will easily miss the lesion. Dr. Dao Viet Hang shares scientific information on AI application in colonoscopy. Dr. Dao Viet Hang, Deputy Director of Hanoi Medical University Hospital Endoscopy Center, Deputy General Secretary of the Vietnam Society of Gastrointestinal Science, said software applying artificial intelligence in endoscopy to detect polyps colon in Vietnam will build an effective machine learning algorithm for detecting and localizing polyps through endoscopic images; initially assessing the accuracy of colon polyps detection and localization algorithm. “We expect that in the next 1-2 years, Vietnam will launch a system applying artificial intelligence algorithms so that doctors in remote and deep areas can learn about lesion classification and detection of lesions. This system is attached to different endoscopy systems at the grassroots level, reducing the injury detection rate “, Dr. Hang shared.

Tests with neutrobots have been performed quite successfully in mice. It can use intelligent biological camouflage and overcome difficult barriers to get closer to the source of the disease in the body and offer the best treatment. The Preeminence of New Micro Robots Microbots are nothing new, it’s like disguising robots into bacteria or using magnets to move them across blood vessels. But what sets Chinese scientists’ new micro-robot designs apart from the crowd is that it can overcome one of the body’s toughest biological barriers, the blood-brain barrier (BBB) ​​- a single layer. extremely high selectivity protection. Designed to stop pathogens and allow only nutrients to penetrate, BBB is the challenge of micro-robots that the body often considers an outside invader. It is very difficult for micro robots to cross this last line of defense and get closer to the hidden tumors behind it. One author of the above study is Professor Zhiguang Wu at Harbin Institute of Technology specializing in nanotechnology. The new micro-robots, he said, can overcome obstacles that hamper many conventional medical treatments. According to Professor Wu, “the passive diffusion of conventional drugs is subjected to a long, ineffective period of time and blocks biological barriers, which can lead to strong side effects. Meanwhile, the new swimming micro-robot / nano-robot, can move into hard-to-reach tissues using their propulsion, load different drugs and actively swim to diseased sites to transporting drugs ”. This is very important because when it comes to fighting cancer because the more targeted the treatment the better. It is especially true when it comes to brain tumors. Because the tumor is in a difficult position in the brain and BBB’s strong protection, drug treatment can be difficult, and removing the tumor requires brain surgery. Even then, usually only 90% of the tumor can actually be removed. In the past, micro robots were inspired by the way a bacteria or sperm move through the body. All light, acoustics and magnetic fields are used to propel them along the host’s body. Through it, a variety of biomedical tasks can be performed, including cutting the membrane, retaining the distributed drug in the gastrointestinal tract, and distributing the drug through the eye dropper. However, even though the researchers control the motion of these micro-robots more than typical drugs in the body, most micro-robotic designs still face one major hurdle: the body’s immune system, especially BBB. To fool BBB’s defense systems, scientists have designed a new micro-robot that is biologically camouflaged to “sneak through” the fence without being detected. The neutrobots are disguised and introduced into the bloodstream. How does the new micro robot work? The use of self-propelled, drug-dispensing micro-robots could open the door for scientists to get closer and more individual-based access to tumor treatment than oral or given medication. permission before. To treat glioma, a type of brain cancer, in mice, Professor Wu and colleagues have designed neutrobot-based micro-robots that can be controlled with a magnetic field. First, they created nanoparticles from a gel embedded with magnetic iron oxide particles, and the popular cancer drug paclitaxel. Next, these nanoparticles were encased in a disguised E. coli bacterial membrane. Disguised as harmful bacteria, these nanoparticles are submerged by in vitro mouse neutrophils much more easily than the bare nanoparticles that are not camouflaged. The researchers found that the camouflage also prevented drug leakage and made these particles less toxic to neutrophils. The research team tested the neutrobots’ ability to navigate and deliver drugs in vitro. Under the control of a rotating magnetic field, the neutrobots reach a speed of 16.4 µm / second – about 50 times faster than the natural neutrophil. By tracking the neutrobots under the microscope, the scientists can let them travel in complex directions on the artificial substrate. In their trials, the team showed that their neutrobots were able to successfully penetrate mouse BBBs to bring the drug into brain tumors. Despite these successes, scientists still have many things to do before they can be applied to humans. One issue that needs to be fixed, the authors explain, is how to better track each neutrobot as they pass through the body. Right now magnetic resonance imaging can track neutrobot groups as they move but cannot track individuals. “Our research has verified that treatment with neutrobots can prolong survival in mice with gliomas. Therefore, it may not be too long to bring stories about micro-robots in science fiction to reality, ”said Professor Wu.

Why is brushing teeth before drinking coffee better?

According to dentist Christina Meiners in San Antonio, USA, this way helps remove plaque build up and makes it harder to stick. So, if your teeth are clean, the coffee won’t find anything to stick to.

Some people always think that brushing after drinking coffee is a proactive measure to keep teeth clean. However, in practice this could make the situation worse. Since coffee is acidic, brushing your teeth immediately afterward weakens the enamel, a surface that protects teeth from physical and chemical attacks.

The morning routine of dentists is usually brushing your teeth before drinking coffee and rinsing your mouth with water to neutralize the acidity in your mouth. On the advice of dentists, you should not brush your teeth in acidic environments because it is chemically abrasive. Such a habit only spreads more acid on the teeth, leading to faster tooth decay and making teeth more sensitive.

However, if you only do this occasionally, don’t worry. Because if once, it’s just a microscopic abrasion, nothing serious. On the other hand, if it is a daily habit, you should give up, because that means you are eroding your enamel.

If you haven’t brushed your teeth before drinking coffee, take the following steps to protect your teeth

If you need to feel cool or clean after drinking coffee, dentists recommend waiting at least half an hour before brushing your teeth. According to dentists, saliva neutralizes the pH of the mouth. So, half an hour later, your teeth will regain a healthy state and you can brush your teeth completely safely.

Another solution is to chew sugar-free gum to increase its natural defenses. Saliva acts as a buffer in an acidic environment.

And while you wait to brush your teeth, you can still get rid of the coffee taste with just water. Dentists also note that flossing after brushing clean is ideal. This can really help keep your teeth clean and smelling better./.