Analysis of Equity Disputes in Listed Companies With Dispersed Ownership Structure and Protection of Small and Medium Shareholders' Interests.

This paper selected Vanke as the case to study the governance problems of Vanke and the protection of the interests of small and medium shareholders under the situation of equity disputes. At the same time, the study further explored the advantages and disadvantages of the dispersed ownership structure, the long-term impact on the company's development and the choice of the involved corporate governance methods under the current Chinese capital market conditions. This paper adopted the event research method and selected the period from June 2015 to June 2017 (24 months) as the observation period to analyze the market performance impact of Vanke in the equity disputes. At the same time, this paper also measured Vanke 's individual stock rate of return (R it ) and market rate of return (R mt ), and calculated Vanke 's normal rate of return [E(R i,t )], abnormal rate of return (AR i,t ), and cumulative abnormal rate of return (CAR i ) during different event windows ([-3,10]). Vanke 's shareholding was too dispersed and the stock price had been sluggish for a long time, which had greatly reduced the acquisition difficulty and cost of Baoneng , thus triggering the "barbarian invasion" of Baoneng . In the struggle for control, whether it was Vanke 's anti-takeover measures or China Resources , Baoneng , and Evergrande 's competition for equity, their actions had harmed the interests of small and medium shareholders. The market supervision department was too lenient to supervise and punish the interests of small and medium shareholders, and opportunism made behaviors that infringe on the interests of others more reckless. However, small and medium shareholders cannot actively participate in the company's management decision-making to safeguard their legitimate rights and interests, which intensifies the violations of all parties in the equity disputes, thus forming a vicious circle. Therefore, the protection of the interests of small and medium shareholders required the joint efforts and consciousness of regulators, small and medium shareholders, and acquirers.

Risk Assessment of Haier Group's Overseas Investment Under International Financial Reporting Standards.

With the development of economic globalization and the policy guidance of International Financial Reporting Standards (IFRS), the overseas investment of Chinese enterprises has been greatly affected. To study the overseas investment risks of Chinese enterprises, this paper applies a risk analysis model to summarize and analyze the results of overseas investment of Haier from 2008 to 2020. This paper defines the risk analysis model as risk identification, risk assessment, and risk response, and studies overseas investment risks including political, economic, cultural, legal, cost, epidemic, and business risks. (1) The existence of various risks is identified in the company's overseas investment projects; (2). The overseas investment risks of Haier are evaluated, through a comprehensive evaluation method combining qualitative and quantitative, financial data, and market response; (3). In view of the deficiencies of the existing risk prevention measures in the overseas investment of enterprises, some reasonable suggestions are purposed. The innovation of this paper are: This paper combines IFRS 9, IFRS 15, and IFRS 16, selects theories, and combines cases to evaluate the risks of overseas investment that are difficult to quantify, and analyzes the risks of overseas investment by Z-value models and market effects. This research method has pertinence and applicability to enterprises investing overseas.

[Triterpene saponins in Panax japonicus and their ~(13)C-NMR spectroscopic characteristics].

Panax japonicus( PJ) is a valuable medicinal plant belonging to the genus Panax of Araliaceae,the recumbent rhizome of which is widely used in clinic therapy,healthcare products and as cosmetic additives with functions of dissipating stasis,reducing swelling,stanching bleeding,and reinforcing deficiency,etc. PJ contains abundant levels of oleanane-and dammarane-type triterpene saponins,which are considered as the material basis for exerting pharmacodynamic action. Based on the previous researches,more than110 triterpene saponins have been reported from PJ. These triterpene saponins were summarized in this review,and could be classified into dammarenediol Ⅱ,protopanaxadiol,protopanaxatiol,ocotillol,oleanolic acid,ursolic acid and miscellaneous subtypes,according to their molecular skeletons in biosynthesis processes. Further more,the structural features of these triterpene saponins in the seven different subtypes,together with their~(13)C-NMR spectroscopic characteristics were described,hoping to provide available information for chemical diversity research of PJ.

[Protective effects of total saponins of Panax japonicas on non-alcoholic fatty liver disease through regulating expression of miR-199-5p].

To research the effection and probable mechanism for the total saponins of Panax japonicas(TPSJ) in mice on non-alcoholic fatty liver disease. Forty SPF male Kunming mice were randomily divided into four group:control group,NAFLD group, low-dose TPSJ treated group,high-dose TPSJ treated group. High-fatty and high-frutose-diet was applied to eatablish NAFLD model，and TPSJ (100 and 200 mg·kg⁻¹) in feeding were given for the TPSJ groups for 4 weeks. To collect the serum with liver and the ALT and TC of serum were monitored after 4 weeks. The hepatic histopathologic structure was observed by haematoxylin-eosin (HE) staining, RT-PCR and RT-qPCR was applied for the detection of miR-199-5p，VEGFa，HGF，c-Met and protein expression level was detected bv laser confocal microscope.Compared with control group, the level of serum ALT and TC in the model group was higher,the liver of the model group showed that hepatocytes display obvious lipid deposition. Then TPSJ treated showed that markedly improved histopathologic changes, decreased fatty deposition. In the meantime,the expression level of miR-199-5p was significantly decreased, thus the expression of HGF and c-Met were significantly increased. TPSJ play a role of prevention on fatty liver, the machanism maybe by blocking miR-199-5p targeted to c-Met signaling pathways in NAFLD.