How can individuals participate in the investment when the first batch of stocks in science and technology innovation board are listed and traded on the 22nd?

  Beijing, July 22nd (Reporter Qiu Yu), the client of Zhongxin. com, lasted only 259 days! Since its establishment was announced on November 5, 2018, the first batch of 25 companies in science and technology innovation board were listed on July 22, 2019, that is, science and technology innovation board shares can be officially traded.

  Science and technology innovation board’s stock trading rules are quite different from the current A-share rules. Since there is no limit on the price increase and decrease in the first five trading days, how the intraday stock price will fluctuate has attracted much attention. So, how do individual investors participate in science and technology innovation board? What problems should we pay attention to?

  How do individual investors participate?

  If individual investors want to participate in science and technology innovation board stock exchange, there is a certain threshold, and they need to meet the following conditions:

  The daily average assets in the securities account and capital account in the 20 trading days before the opening of the application authority are not less than RMB 500,000 (excluding the funds and securities that the investor has integrated through margin financing and securities lending); Participated in securities trading for more than 24 months.

  In other words, you must have not only two years of experience in securities trading, but also at least 500,000 yuan in your account. The relevant person in charge of the Shanghai Stock Exchange said at the end of June that there are about 3.2 million investors who meet the requirements of appropriateness.

  It doesn’t matter if the above conditions are not met. According to the Shanghai Stock Exchange, small and medium-sized investors who don’t meet the requirements of investor suitability can participate in science and technology innovation board through products such as Public Offering of Fund.

  At present, Bosera Fund, Yin Hua Fund, Dacheng Fund, China Europe Fund, Caitong Fund, CICC Fund and other fund companies have launched science and technology innovation board-related theme funds.

  How do individuals participate in innovation?

  Playing new means that investors use funds to participate in the subscription of new shares. If they win the lottery, they will buy the shares that will be listed soon, mainly through online and offline channels.

  Since the offline subscription object does not include individual investors, for ordinary individual investors, they can only participate in innovation through online subscription.

  If you want to purchase online, the first step is to open the science and technology innovation board trading authority, that is, to meet the above conditions.

  The second step is to meet the requirement of holding market value, that is, the total market value of the unrestricted A-share shares and unrestricted depositary receipts held by individual investors participating in the subscription of new shares in science and technology innovation board is more than 10,000 yuan (including 10,000 yuan).

  For example, if you have bought more than 10,000 yuan of Shanghai Pudong Development Bank (stock code: 600000.SH) shares in your stock account, and meet the above conditions for participating in science and technology innovation board, you can participate in the IPO in science and technology innovation board. Because the stock codes 601 and 600 start with the Shanghai Stock Exchange. The stock at the beginning of 000 is the main board stock of Shenzhen Stock Exchange; 002 starts with small and medium-sized stocks of Shenzhen Stock Exchange, and 300 starts with GEM stocks of Shenzhen Stock Exchange.

  In addition, there is another way to invest in bank wealth management and fund participation in innovation. For example, at present, Bank of China, China Merchants Bank, Postal Savings Bank and other banks have launched science and technology innovation board-themed bank wealth management products, mainly by investing in innovative funds to indirectly participate in innovation in science and technology innovation board.

  Are new shares "bought as earned"?

  Many people think that buying new shares means earning, just like winning the lottery. The data shows that the number of investors participating in online innovation has exceeded 3.1 million. This means that almost all individual investors who have opened the trading authority in science and technology innovation board have participated in the innovation.

  In fact, science and technology innovation board’s new shares are not cheap.

  Price-earnings ratio (PE) is the ratio of stock price divided by earnings per share, and it is one of the most commonly used indicators to evaluate whether the stock price level is reasonable. Generally speaking, the higher the P/E ratio, the more overvalued the stock is.

  The upper limit of 23 times P/E ratio has been cancelled in the issue price of science and technology innovation board shares, so the average P/E ratio obviously exceeds the overall level of A shares.

  According to the statistics of Pacific Securities Research Report, the P/E ratio of 25 companies is between 18.86 and 170.75 times, with an average of 49.16 times and a median of 42.14 times.

  Among them, the highest P/E ratio is Zhongwei Company, 170.75 times; The lowest is China’s through number, 18.8 times. The P/E ratios of China Tonghao, Wald, Tianyi Shangjia and Aerospace Hongtu are lower than the industry level, and the remaining 21 companies are all higher than the industry valuation.

  Judging from the issue price, according to Wind data, the average issue price of the first batch of 25 new shares listed in science and technology innovation board is 29.20 yuan/share. As of July 15th, of the 87 A-share new shares issued this year, only 21 were issued at a price exceeding 29.20 yuan/share.

  In addition, in terms of winning rate, the average winning rate of the first batch of 25 science and technology innovation board new shares is nearly 0.06%, which is higher than the overall level of A shares.

  What problems should we pay attention to in trading?

  Science and technology innovation board’s trading rules are different from the current rules of A shares.

  First, the price rises and falls. There is no price limit in the first five trading days after the listing of science and technology innovation board stock, and a 20% price limit is set from the sixth trading day.

  In the first five trading days, science and technology innovation board also set up a temporary suspension system. When the intraday share price rises or falls by 30% or 60% compared with the opening price for the first time, it will be suspended once respectively.

  In this regard, some market analysts have warned that if there is no price increase or decrease, it is very likely that investors will be "hung at high altitude" after buying; The price limit of 20% is twice as large as the current limit of 10% A shares, and the trading risk is higher.

  Secondly, the number of single declared shares in science and technology innovation board is different from the current 100 shares in A shares, and its starting number is 200 shares. Moreover, as long as each declaration exceeds 200 shares, it can be increased by 1 share, for example, 201 shares and 202 shares can be purchased.

  Finally, it should be noted that science and technology innovation board has not introduced the T+0 trading system, but still adopts T+1. T+1 means that stocks bought on the same day cannot be sold on the same day, and cannot be sold until the next trading day.

  The relevant person in charge of the China Securities Regulatory Commission said earlier that at this stage, China’s capital market is still immature, the proportion of small and medium-sized retail investors in the investor structure is relatively large, the characteristics of the unilateral market have not fundamentally changed, and the market monitoring means are still insufficient. Starting from maintaining the stable operation of the market and protecting the interests of small and medium-sized investors, science and technology innovation board has not introduced T+0 trading system yet.

  What is the impact on the trend of A-share main board?

  Essence Securities pointed out that assuming that the turnover rate of most companies in science and technology innovation board reached 89% on the first day of trading, it is estimated that the turnover of science and technology innovation board on the first day will be about 31.394 billion yuan (assuming that the average transaction price exceeds the issue price by 35%), then science and technology innovation board will account for about 6.56% of the total turnover of the two cities, with little liquidity impact.

  Huatai Securities analyzed that science and technology innovation board’s influence on the liquidity of the A-share main board mainly has two aspects, namely, the bottom warehouse drainage effect and the diversion effect.

  On the one hand, science and technology innovation board’s increase in stock supply has created a certain diversion pressure on the trading volume of the existing A-share sector, which is in the two stages of issuance and listing; On the other hand, participating in the subscription of science and technology innovation board new shares requires the market value of A-share bottom positions, which is expected to increase the allocation funds of existing sectors.

  Regarding the "diversion pressure on the existing A-share sector", GF Securities believes that the diversion effect brought by science and technology innovation board is limited and controllable due to the comprehensive mechanism and volume factors.

  From the mechanism point of view, the Growth Enterprise Market (GEM) adopted the new subscription of new shares in advance, and the first batch of frozen subscription funds reached one trillion yuan, while science and technology innovation board only adopted the market value placement method, which greatly weakened the diversion effect; In terms of volume, the financing scale of science and technology innovation board is expected to be 80 billion to 90 billion yuan in 2019, and the overall pace is controllable.

  Li Chao, vice chairman of the China Securities Regulatory Commission, said earlier that science and technology innovation board has strict corresponding standards and procedures, which does not mean that anyone who wants to go public can go public. At the same time, science and technology innovation board pays attention to the market mechanism, which includes market constraints. As long as all parties in the market, including intermediaries, issuers, investors, and regulatory authorities, return to their posts and do their duty, I believe there will be no flooding in science and technology innovation board. (End)

China version of chatGPT is here. Does it matter to you? Learn about it and don’t regret it!

China version of chatGPT is here!

Does it have anything to do with you?

Don’t argue yet, it really matters!

"chatGPT", translated into Chinese: "Chat!"

"China chatGPT", hehe,

Chinese chat, you should always be able to!

Tell me something professional:

ChatGPT is a language processing tool driven by artificial intelligence technology launched by OpenAI company in the United States. It can learn and understand human language and have a dialogue. You can also interact according to the context of the chat, and really chat and communicate like human beings. I can also write emails, video scripts, copywriting, translation, codes and so on.

ChatGPT uses the Transformer neural network architecture, and has the ability of language understanding and text generation. Especially through connecting a large number of corpus training, ChatGPT has the ability to know astronomy above and geography below, so as to communicate with human beings without barriers.

Do you understand? In fact, it is an upgraded version of man-machine dialogue such as "Xiao Du", "Xiao Yi" and "Xiao V".

It’s just that chatGPT is more advanced and smarter. To put it bluntly: it is better to speak human words!

As for "China version of chatGPT", it is through the study of Chinese language that we can deeply understand the essence of Chinese culture and make China’s words clear and thorough! Then the question comes: What impact does "China version of chatGPT" have on our lives?

Personally,
"China chatGPT"
It is a milestone for the development of artificial intelligence technology. China is at the global leading level in the field of natural language understanding and related AI technologies, and its application in various fields such as words, pictures, videos and music has initially formed market benefits.

With the continuous development of digital technology, breakthroughs have been made in the fields of digital infrastructure, digital software design and top-level digital applications. Virtual idols, virtual anchors, virtual teachers and other virtual human industries relying on AIGC technology have ushered in favorable development, thus constantly releasing the IP value of virtual people and enabling them to gain new development momentum.

The virtual community is not only used in games, but will run through all aspects of daily life in the future!

Imagine: you want to go to the government to do business, and you are at home. You can enter the government administrative center in the virtual community through digital virtual people to communicate with the staff! Of course, the other party is also a virtual person (digital twin), and all procedures can be signed digitally. And you just sit at home, and you can accomplish what you usually need to do with a pommel horse.

Is it a bit like the scene in The Matrix? This is not magic at all. With the development of science and technology, virtual reality only enhances our feelings.

And its strong learning and cognitive ability will help our lives to change qualitatively. There will be no doubt about this! Isn’t the Internet and e-commerce all precedents?

"China version of chatGPT" is very powerful. Through self-study and analysis, its work handling ability will be extremely shocking! This will lead to, you may lose your job!

See!Customer service personnel, data analysts, translatorsIt is the most likely job to be robbed by ChatGPT in the near future.

Interestingly, when someone asked ChatGPT about this issue, ChatGPT replied: "Some repetitive and highly standardized work will probably be replaced by automation and robots!" ChatGPT also said: "Humans are still creating new jobs and needs, and technology will also create new job opportunities! Therefore, human beings and artificial intelligence will coexist, not replace each other! "

Listen, how well it is said! How modest!

Actually, yes"China chatGPT"There is really no need to worry too much. The artificial intelligence represented by ChatGPT may replace most simple and repetitive routine work, which is the general trend. The more functions of artificial intelligence are to improve work efficiency, assist and serve human beings to live with higher quality.

It suddenly occurred to me,

Chairman Mao’s poem "Spring and Snow in Qinyuan";

Cherish Qin Huang Hanwu, slightly lose literary talent; Tang Zong Song Zu, slightly less coquettish. A generation of tianjiao, cheng jihan, only knows how to bend a bow and shoot a big eagle. The past is gone, count the romantic figures, and look at the present!

People are always smarter than AI technology, and innovative ability, empathy and critical thinking are all manifestations of human intelligence, which is unmatched by many advanced artificial intelligence.

Academician Zhang Xueji, Vice President of Shenzhen University: If you master the sensing technology, you will control the world.

There are many opportunities for intelligent sensors. As the first of the six technologies in the United States, artificial intelligence can improve our quality of life through the combination of artificial intelligence and sensors. The development trend of intelligent sensors is to monitor in real time, be flexible and light, and the key is to analyze multiple parameters at the same time, be wearable and non-invasive.

36Kr Project Report | Providing big data solutions for ecological space, "Morrel Intelligence" develops general artificial intelligence Internet of Things technology.

The word "big data" has appeared 14 times in the draft of the 14th Five-Year Plan. It can be seen that, as an important vane of national economic and social development, the 14th Five-Year Plan has still made important arrangements for the development of big data, and the guidance for the development of big data in the plan has been integrated into all chapters. Big data is no longer an emerging technology industry, but is becoming an element, resource, motive force and concept integrated into various fields of economic and social development.

The 14th Five-Year Big Data Industry Development Plan issued by the Ministry of Industry and Information Technology at the end of 2021 further points out that by 2025, the estimated scale of China’s big data industry will exceed 3 trillion yuan, and a modern big data industry system with strong innovation, high added value and self-control will basically take shape.

Up to now, the domestic ecological space big data is still in a relatively blank state, and the digital industry based on ecological space is still in an undeveloped field, and only has small-scale applications in agriculture and water conservancy.

According to the data provided by IBM Business Value Research Institute, the total scale of ecological space in China is over 800 million hectares, of which the environmental data gap is over 78%. Moreover, the existing technical means are mostly low-frequency data monitoring and display, lacking in-depth and cross-industry data statistics and comprehensive learning ability, and unable to deeply process the collected data.

Morrel intelligent technologyCompany Limited (hereinafter referred to as "Morrel Intelligence") is a data service company that provides solutions for "big data in ecological space". Based on ANN (Artificial Neural Network) architecture, the company combines self-developed patent algorithm and uses AGIoT (Internet of Things with General Artificial Intelligence) technology to ensure the completeness of data from collection to analysis and application.

"We collect distributed real-time data through various sensing devices of AGIoT technology, and combine the deep learning algorithm of ANN architecture to fit, analyze, summarize and re-learn the data of various dimensions, thus forming application data units that can face different industries." Yang Li, founder and CEO of Morrel, introduced to 36Kr: "At present, Morrel’s intelligent ecological space big data solution has been widely used in agriculture, water conservancy, fishery, forest fire prevention, disaster prevention, medical treatment, construction, environmental protection and many other industries and application fields."

Artificial intelligence is entering a new stage of development. Traditional weak artificial intelligence is also called narrow artificial intelligence, which can only cover a single application field. General artificial intelligence is also considered as strong artificial intelligence, which can realize more comprehensive intelligence and self-awareness. From the perspective of industrial development, at present, it is moving towards the stage of general artificial intelligence.

The drive of big data has made a great breakthrough in artificial intelligence. Without data learning, it can make a reasonable response through reasoning, so as to interact with things that have never been seen or learned, and it has developed into a mature system to avoid potential risks.

Intelligently, Morrel believes that ecological space big data can be collected, integrated, stored, analyzed and applied through acoustic sensors, biosensors, chemical sensors, RFD technology, satellite remote sensing, video sensing, optical sensors and manual monitoring, etc. Ecological spatial data are mostly characterized by flow, and real-time continuous observation is particularly important. Only by processing and analyzing these dynamic new data in real time, and combining with the existing historical data, can we dig out useful information, provide scientific decision-making, and have more statistical significance.

The R&D capability of Morel’s intelligent ecological space big data solution comes from the accumulation of Bill Electronics (Bill Laboratories) before, and the core team has been deeply involved in AIoT for more than ten years. With its own equipment, products, data and analysis capabilities, it has formed a closed loop of R&D, a closed loop of products and a closed loop of sales.

Yang Li further introduced: The learning speed of this ecological space big data solution based on neural network and AGIoT is much faster than that of traditional algorithms. Morel Intelligent has both algorithm threshold and moat in application layer and data cycle. We now have five expert teams including water conservancy, environment, agriculture, chemical industry and data. Expert teams in different fields can provide timely information feedback and teach our system to learn and grow.

Morrel’s intelligence has been rooted in the agricultural field for the longest time. According to the introduction, supported by Morrel’s intelligence to provide full growth cycle data, China’s first documentary about rural revitalization, The Melody Ripes, the Till the Fall, has been broadcast on CCTV-17 Agricultural and Rural Channel. Through the real-time monitoring of AGIoT equipment, the study of farmers’ personal planting habits, the formulation of soil improvement programs, the realization of fine planting and scientific management, and finally the goal of reducing pests and diseases, reducing costs and increasing efficiency.

Moreover, based on its own high-frequency analysis of data collection, Morrel Intelligent can provide customers with a product traceability platform of full-cycle data services and third-party certification.

In addition, Morel’s intelligent ecological space big data solution not only provides real-time environmental monitoring for kindergartens, but also intelligent health management for municipal road lighting, and also provides real-time ground detection of satellite solar panel deployment devices for aerospace fields.

There are two ways for Morrel to acquire customers. One is to absorb the resources of local partners or distributors through localized operation, and jointly expand the localized business; Secondly, through the combination of Industry-University-Research, cooperation with higher education institutions, and participation in vocational training and vocational certification, we can promote targeted marketing to the end market.

At present, Morrel Intelligent has more than 500 customers, providing 55 categories, totaling more than a thousand sets of equipment, with valid data exceeding 200GB, analyzable abnormal data exceeding 2TB, and annual contract amount exceeding 10 million.

According to reports, its project has achieved the global coverage of the domestic market, and has been expanding the markets of ASEAN and the European Union through agents, with fruitful results. Affected by the epidemic, Cambodia, Vietnam and Indonesia of ASEAN, Germany and Belgium of the European Union will provide localized solutions by agents after the epidemic eases.

Morrel was founded in 2018, and its core team consists of expert teams who have been deeply involved in artificial intelligence, electric lighting, communication engineering, agriculture and forestry science and technology, natural science and other fields for more than ten years. It is a national high-tech enterprise and a national small and medium-sized science and technology enterprise. At present, it owns 17 intellectual property rights and two invention patents are being applied for. It is reported that Morrel Intelligence is starting a new round of financing. The financing funds will be used for equipment investment and R&D investment, and it is cooperating with industrial funds to build its own specialized and intelligent production factory.