Abstract

Purpose – We investigate the interconnectedness between the financial sectors and new energy companies in China from the perspective of the multilayer network, and analyze the static and time-varying characteristics of the multilayer network at system and company levels, respectively.

Design/methodology/approach – We employ the multilayer network containing the realized volatility (RV here after) layer, the realized skewness (RS here after) layer and the realized kurtosis (RK here after) layer. The three realized indicators adopted to construct the multilayer network are generated by the intraday trading data from 2012 to 2022.

Findings – (1) Different layers have different characteristics, and can provide supplementary information. (2) Banks tend to play the role of risk transmitters on the whole, while the insurances and new energy companies tend to play the role of risk receivers on average. (3) The connectedness strength of financial sectors and new energy companies varies over time, and climbs sharply during the major crisis events. The roles of financial sectors and new energy companies may change from risk transmitters to risk receivers, and vice versa.

Originality/value – We adopt three realized indicators to construct the three-layer network, which provides a more comprehensive perspective for understanding the connectedness between the financial sectors and new energy companies in China.

The non-uniform pore size distribution and high flammability of commercial separators pose significant challenges to the safe application of high-energy-density lithium-ion batteries. In this study, a flame-retardant composite separator (P@HLi) with high thermal stability was successfully developed, which not only suppressed lithium dendrite growth but also improved high-temperature cycling performance of batteries and significantly enhanced their thermal safety. Li//Li symmetric batteries equipped with P@HLi-20 separators demonstrated stable cycling for over 600 h at a low polarization potential (approximately 50 mV), effectively reducing the formation of “dead lithium” and lithium dendrites. The LFP//Li and NCM811//Li cells with P@HLi-20 separators delivered initial discharge specific capacities of 142.0 and 167.9 mAh/g, respectively. Notably, the LFP//Li battery with P@HLi-20 separator showed excellent high-temperature cycling performance, maintaining 98.0% capacity retention and a discharge capacity of 131.1 mAh/g after 100 cycles at 1 C at 90 °C. Furthermore, pouch cells assembled with P@HLi-20 separators exhibited reductions of 52.67% in peak heat release rate (PHRR) and 68.42% in total heat release (THR) compared to those using Celgard separators, demonstrating superior thermal safety. These results confirm that the P@HLi separator offers comprehensive improvements in both electrochemical performance and safety characteristics.

Abstract

Purpose – Testing several approaches for implied volatility modeling and forecasting.

Design/methodology/approach – Comparative empirical study with four traded options.

Findings – Non-parametric higher-order spline is better than parametric stochastic volatility inspired (SVI) in China.

Research limitations/implications – Our results imply that even though popular on Wall Street, SVI seems not to be utilized by traders and market-makers in China.

Practical implications – Traders may consider higher-order splines as a better method for implied volatility modeling and forecasting.

Originality/value – Propose to model and forecast implied volatility via the fifth-order spline interpolation as a first; initiates studies of the empirical performance of SVI and the fifth-order spline models in implied volatility modeling and forecasting.

Researchers at Okayama University of Science have discovered that bitter taste receptors—the same type found on the human tongue—exist inside cancer cells and play a key role in multidrug resistance (MDR). These receptors sense anticancer drugs within the cell and activate molecular pumps that expel the drugs, preventing them from working effectively. This groundbreaking finding reveals a new biological function for taste receptors beyond the tongue and skin, where they normally serve as a defense system against harmful substances. The study, published in Scientific Reports (Nature Research), suggests that blocking these receptors could stop cancer cells from developing drug resistance. Because MDR is one of the biggest challenges in chemotherapy, this discovery opens a promising new path for improving cancer treatment. The research team believes that combining bitter taste receptor blockers with conventional anticancer drugs could enhance treatment outcomes and help advance chemotherapy into a new era of precision medicine.

Industrial dyes used in textiles, plastics, paper, and cosmetics make wastewater vividly colored and potentially toxic. Many of these dyes resist normal treatment, threatening aquatic life and human health. Now researchers have harnessed machine learning to predict how well biochar, a carbon-rich, low-cost material made from plant waste, can remove these stubborn pollutants from water.

Scholar finds evidence from far-flung global regions about benefits of Indigenous fire sovereignty. Melinda Adams applying her knowledge to the land in cooperation with tribe in Kansas.

Five-axis machining plays a pivotal role in manufacturing complex industrial components. In a recent study, researchers introduced a surface-partitioning and iso-scallop field-based strategy tailored for non-spherical cutting tools. By adaptively dividing machining surfaces and generating smooth tool orientations, the method significantly shortens tool paths, reduces machining time, and improves surface quality. This breakthrough not only enhances industrial productivity but also provides a foundation for integrating intelligent optimization in smart manufacturing.

The study reveals a new regulatory mechanism controlling the biosynthesis of tanshinones and phenolic acids in Salvia miltiorrhiza (Danshen), a key herb in traditional Chinese medicine. Researchers identified SmCSN5, a subunit of the COP9 signalosome complex, as a stabilizing partner of the transcription factor SmMYB36, which simultaneously promotes tanshinone synthesis and represses phenolic acid formation. SmCSN5 prevents SmMYB36 degradation through the ubiquitin–proteasome pathway and enhances its transcriptional activity under methyl jasmonate induction. This work uncovers a post-translational control layer coordinating secondary metabolism in medicinal plants, providing new insights for metabolic engineering to selectively enhance pharmacologically active diterpenoid compounds.

Salicylic acid (SA) plays a pivotal role in plant defense, yet its genetic regulation in tea remains largely unexplored. By analyzing 299 tea accessions through genome-wide association studies (GWAS) and genotyping-by-sequencing (GBS), researchers uncovered a key gene—CsNCED1—that negatively regulates SA-mediated immune responses. Overexpression of this gene increased abscisic acid (ABA) levels and weakened pest resistance by suppressing SA biosynthesis and its receptor signaling pathway. The findings reveal the antagonistic interplay between ABA and SA in determining tea plants’ susceptibility to biotic stress, offering crucial genetic resources for marker-assisted breeding of insect-resistant cultivars.