18 May

[How long will the kelp be cooked]_How to cook_How to cook

銆 愭 鹭 湶 湶 擶 擶 擙 鮳 鍳 界 啛 浜? 銆 慱 Hoo 劝 箞 啣 堛 啛 _ 濡 綍 镣 栫 啛
Xian Feng, who is in a hurry, and who is in a state of ambiguity, stunned and stunned  鏄  朜 庣 庣 庣 姹 ょ 殑 屽 啽 钖 炣 湁 菉 宇  逄 啥 啭 啽簬鎴戜滑鐨勯檷琛€鑴備互鍙婇檷琛€绯栨槸寰堝ソ鐨勶紝鎵€浠ユ垜浠簲璇ヨ浜嗚В娴峰甫鐨勯鐢ㄦ柟娉曘€傚浜庢捣甯︾倴姹ょ殑鏂规硶涓昏鏈夋捣甯﹁儭钀濆崪鐜夌背鎺掗姹や互鍙婃捣甯﹀啲鐡滈澶存堡锛岃繖浜涙堡涓€鑸槸鐐栦竴涓皬鏃跺乏鍙冲氨鍙互鐔熶簡锛屽懗閬撴槸姣旇緝娓呮贰鐨勩€傛捣甯︽槸涓€绉嶈惀鍏讳环鍊煎緢楂樼殑钄彍锛屽悓鏃跺叿鏈変竴瀹氱殑鑽敤浠峰€笺€傚惈鏈変赴瀵岀殑纰樼瓑鐭跨墿璐ㄥ厓绱犮€傛捣甯﹀惈鐑噺浣庛€佽泲鐧借川鍚噺涓瓑銆佺熆鐗╄川涓板瘜锛岀爺绌跺彂鐜帮紝娴峰甫鍏锋湁闄嶈鑴傘€侀檷琛€绯栥€佽皟鑺傚厤鐤€佹姉鍑濊銆佹姉鑲跨槫銆佹帓閾呰В姣掑拰鎶楁哀鍖栫瓑澶氱鐢熺墿鍔熻兘銆傛捣甯﹀惈鏈夎钘昏兌銆佹捣钘婚吀锛岃繖浜涚墿璐ㄤ笉婧朵簬姘达紝鍗撮兘鍏锋湁鏋佸己鐨勫惛姘磋啫鑳€鎬ц兘锛屼竴缁忓惛姘达紝娴峰甫琛ㄩ潰灏变細鍑虹幇榛忕鑳朵綋锛岃兘闃绘姘磋繘涓€姝ユ蹈鍏ワ紝鍥犳娴峰甫寰堥毦娉¢€忋€傚悓鏃舵捣甯︿腑鎵€鍚殑纰樿川澶ч儴鍒嗗湪琛ㄩ潰锛岃繃涔呮蹈娉′細浣跨娴佸け銆備竴鑸€佺櫨濮撶殑鍋氭硶鏄妸骞叉捣甯﹀厛鐢ㄦ竻姘存蹈娉″啀鐓紝鍏跺疄杩欑鍋氭硶鏄敊璇殑锛岃繖鏍峰鐞嗙殑娴峰甫鏃犺鎬庝箞鐐栥€佺倴澶氶暱鏃堕棿锛屽悆璧锋潵浠嶇劧鎰熻涓嶇儌锛岄偅涔堟捣甯︽€庢牱涓€鐓氨鐑?鍑犱釜绠€鍗曚笖闈炲父濂芥搷浣滅殑灏忕獚闂ㄨ兘璁╀綘鐓殑娴峰甫瀹规槗鐑傦紝鍋峰伔璁颁笅鍚с€?銆佹窐绫虫按娉曪細鍦ㄦ场鍙戞捣甯︾殑鏃跺€欑敤娣樼背姘达紝娴峰甫瀹规槗娉″彂銆佹竻娲楋紝鐑х叜鏃朵篃瀹规槗閰ヨ蒋銆?銆侀€傚害娉曞垯锛氱叜娴峰甫鐨勮繃绋嬩腑鍙互鐢ㄧ瀛愬す璧蜂竴鐗囩敤鎵嬫帎涓€涓嬶紝濡傛灉杞簡灏辩珛鍗虫妸鍓╀笅鐨勬捣甯︽崬鍑猴紝鍥犱负娴峰甫鐓殑鏃堕棿杩囬暱浼氬彉纭€?What are you talking about? Xian Xianfeng, who is in the middle of the chain?涓嶅彲杩囧)椋熺敤纰辨垨灏忚嫃鎵撲細鍙樼殑杞鍙彛銆佹洿鍔犻矞缇庛€?銆佸姞閱嬬獚闂細鐓捣甯︿笣鐨勬椂鍊欏姞鍏ラ€傞噺鐨勭櫧閱嬶紝涓嶄粎鑳藉幓闄ゆ捣甯︿笣鐗规湁鐨勮叆鍛筹紝涔熻兘淇冧娇娴峰甫鏇村鏄撶叜杞紝棰滆壊涔熷ソ鐪嬶紝鍠滄鏇磋蒋鐨勫彛鎰熷彲浠ラ€傚綋寤堕暱鐓埗鐨勬椂闂淬€傝嫢鏀惧嚑妫佃彔鑿滐紝娴峰甫鏄撶儌銆?銆佸共钂哥獚闂細鎶婃垚鍥㈢殑骞叉捣甯︽墦寮€鏀惧湪绗煎眽閲岄殧姘村共钂稿崐灏忔椂宸﹀彸锛岀劧鍚庣敤娓呮按娴告场涓€澶溿€傜敤杩欑鏂规硶澶勭悊鍚庣殑娴峰甫鍙堣剢鍙堝锛岀敤瀹冩潵鐐栥€佺倰銆佸噳鎷岋紝閮芥煍杞彲鍙c€?銆佸紑姘寸儷娉曪細濡傛灉鏄渶瑕佺叢姹ょ敤鍒扮殑娴峰甫缁擄紝鍙互鍦ㄧ叜涔嬪墠鏀惧叆寮€姘翠腑鐑竴涓嬶紝鍘婚櫎鑵ュ懗鍚庣叢鍑虹殑姹ゅ懗閬撲細鏇村姞椴滅編銆傚湪椋熺敤娴峰甫鏃讹紝搴旀竻娲楀共鍑€鍚庯紝鏍规倁 瀹 为 台 鎯 呭 喌 鐢 鐢 鐢 鐵 謊報 尽 喽 Guojuan 柇 鎹 ㈡ Press ? 嫴 鑸 Dancing?What’s the difference? How can you solve this problem? You must follow the instructions in the field, and you will be able to find out how to deal with it.簡锛屽氨涓嶈兘鍐嶉鐢ㄣ€傚共娴峰甫鈥滃喎娉″喎鐓€佺儹娉$儹鐓€濇棤绉戝渚濇嵁闀挎湡浠ユ潵锛屽啘鏉戞祦浼犵潃涓€绉嶈娉曪細骞叉捣甯﹀繀椤烩€滃喎娉″喎鐓€佺儹娉$儹鐓?-鐢ㄥ喎姘存场鐨勮鍐锋按涓嬮攨锛岀敤鐑按娉$殑瑕佺儹姘翠笅閿呪€濓紝鍚﹀垯娴峰甫鏃犺鎬庝箞鐓兘鏄‖鐨勩€傛灉鐪熷姝ゅ悧?涓撳璁や负锛屽共娴峰甫蹇呴』鈥滃喎娉″喎鐓€佺儹娉$儹鐓€濈殑璇存硶娌℃湁绉戝渚濇嵁銆備竴鑸 銞 鹞 鹞 鹞 湉 Ning 渴 缁 忚 啚 啉 “咂 庖 庯 麴 練練  鍐 锋 鬮 嬨 撨 撻 槸 搸 鐑  Press the trickle 柨 柨 氣 As for the new troublesEffectiveness Want to write a good word? 鎸戦€夊共娴峰甫鏃朵互甯︹€滅櫧闇溾€濈殑涓哄疁銆備汉浠湪璐拱骞插埗娴峰甫鏃讹紝甯镐細鐪嬪埌娴峰甫鐨勮〃闈㈤檮鐫€鐫€涓€灞傜櫧鑹茬殑绮夋湯锛屼笉灏戜汉浼氳浠ヤ负閭f槸娴峰甫鏅掑共鏃舵瀽鍑虹殑鐩愶紝杩樻湁浜虹敋鑷充互涓烘槸鍙戦湁鍙樿川鐨勭幇璞°€傚叾瀹烇紝骞插埗娴峰甫琛ㄩ潰鐨勪竴灞傗€滅櫧闇溾€濇槸涓€绉嶅彨鍋氣€滅敇闇查唶鈥濈殑鐗╄川銆傝繖绉嶇墿璐ㄩ潪浣嗘棤瀹筹紝鍦ㄥ尰鑽笂杩樺彲浠ヨ捣鍒伴檷浣庤鍘嬨€佸埄灏垮拰娑堣偪鐨勪綔鐢紝鍚屾椂鏈夋姉鐧屻€佹姉鑿屻€佽В閰掋€佸噺鑲ョ殑鍔熸晥銆傚洜姝わ紝甯傛皯鍦ㄦ寫閫夊共鍒舵捣甯︽椂锛屽簲浠ュ甫鈥滅櫧闇溾€濈殑涓哄疁锛屽悓鏃惰繕瑕佸敖閲忔寫閫夊共涓€鐐圭殑銆侀鑹蹭负娣辫鑹叉垨瑜愮豢鑹层€佸彾鍧楁瘮杈冩暣榻愩€佸帤搴︽瘮杈冨潎鍖€鐨勩€傝喘涔版椂鏈€濂芥妸娴峰甫鎵撳紑鐪嬬湅锛屽鏋滄湁纰庡皬鐨勬捣甯︾墖娣Front and back: 釄 鏄 庡 叾 卾 鍝 彽 川 璽 Essentials of the new craftsmanship  鏋 Cang 湛 椊 鎴 栧 ぇ 闱 ㈢ 湁 瀛 旊 倽 倽 週 駱 ぇ 〇 駽 〇芥槸鍦ㄥ瓨鍌ㄨ绷绋嬩腑鏈夎繃铏泙鎴栭湁鍙樸€?

06 May

[How long can you drink pigeon soup]

銆愰『浜у涔呭彲浠ュ枬楦藉瓙姹ゃ€慱鍒嗗ī鍚巁鏈€濂芥椂闂?
楦藉瓙姹や腑鎵€鍚湁鐨勮惀鍏诲惈閲戦噺鏄潪甯搁珮鐨勶紝鎵€浠ヤ笉绠℃槸鍦ㄧ敓浜у畬涔嬪悗杩樻槸鎬€瀛曡繃绋嬩腑锛屽コ鎬ч兘搴旇澶氬枬楦藉瓙姹ゆ潵琛ュ厖钀ュ吇銆傚苟涓斿ぇ閮ㄥ垎濂虫€у湪鐢熶骇涔嬪墠灏变細浜嗚В涓€浜涙湀瀛愰璋憋紝鍏朵腑楦藉瓙姹や篃鎴愪负浜嗚惀鍏诲瀹朵滑鎵€鎺ㄨ崘鐨勪竴蹇呬笉鍙皯鐨勮惀鍏婚璋便€傚鏋滄槸閫夋嫨椤轰骇鐨勪骇濡囷紝澶ф鍦ㄦ仮澶嶈韩浣撳緱澶氫箙鎵嶈兘澶熷枬楦藉瓙姹ぃ?鍧愭湀瀛愯兘鍠濋附瀛愭堡鍚楅附瀛愮殑钀ュ吇浠峰€兼瀬楂橈紝鍦ㄦ皯闂寸礌鏈変竴楦借儨涔濋浮鐨勮娉曘€傝櫧鐒舵湁鐐硅█杩囧叾瀹烇紝浣嗕篃鍏呭垎璇存槑浜嗛附瀛愭墍鍚惀鍏荤殑鍚噾閲忋€傛湀瀛愪笓瀹跺缓璁紝浜у悗鍧愭湀瀛愶紝鏈堝瓙椁愰璋变腑涓€瀹氫笉瑕佸皯浜嗛附瀛愭堡! How much is it? How much is it? How about a chain?楦藉瓙涓虹敎琛€鍔ㄧ墿锛岄附瀛愯倝瀵屽惈涓板瘜鐨勮泲鐧借川锛岃兘澶цˉ姘旇锛屽浜у悗璐闈炲父鏈夊ソ瑜劊℃湁鍒╀簬浜у浼ゅ彛鐨勬仮澶嶏紝骞朵笖楦借倝鏈夎ˉ鑲濆.鑲俱€佺泭姘旇ˉ琛€銆佹竻鐑В姣掋€佺敓娲ユ娓寸瓑鍔熸晥銆傛湁浜涘湴鏂规皯闂存湁楦藉瓙姹や細鍥炲ザ鐨勮娉曪紝鍏跺疄鏄笉瀵圭殑锛屼粠椋熸€т笂鏉ヨ锛岄附瀛愭堡骞朵笉浼氬紩璧峰洖濂躲€傛湁浜涗骇How do you know how to do it? If you want to use it, you must be able to use it.浜у鍠濋附瀛愭堡鏈€濂芥槸甯﹁鐨勯附鑲夌倴姹わ紝瀵逛骇鍚庢仮澶嶉潪甯告湁濂藉!Ning song  Feidanfuying Qibaoguodong Chenjuanjubao! 绾㈡灒鏋告潪楦藉瓙姹ゆ潗鏂欙細楦借倝銆佺孩鏋c€佹灨鏉炪€佸銆佹鐗╂补銆佹枡閰掋€佺洂;鍋氭硶锛?銆侀附瀛愬鏉€鍚庢竻娲楀共鍑€闂疯(涓嶈璁╄娴佸け)锛岄附琛€瀵规墜鏈悗鐨勮韩浣撴仮澶嶉潪甯告湁濂藉!2銆佹灨鏉炵敤姘存场娉★紝娲楀共鍑€锛岀孩鏋f礂骞插噣鍘绘牳銆?绾 ㈡ 灒 遙 哥 吗 向?銆?銆侀椃琛€鍗婂皬鏃跺悗锛屽皢楦藉瓙鍘诲ご鍘诲眮鑲★紝鍓佸皬鍧楋紝涓嶅枩娌硅吇鑰呭彲灏嗘妸鐨墺鎺?楦藉瓙鍠滈缈旓紝鍥犺€屽ぇ澶氭补鑵昏緝灏? ;4銆佸皢鍒囧潡鐨勯附鑲夌敤寮€姘存窎涓€閬嶄互鍘昏叆;5銆佷笂閿呭紑鐏紝鍔犲叆灏戣妞嶇墿娌癸紝鏀惧叆濮滅墖缈荤倰锛屽鐗囧嚭鍛冲悗锛屽€掑叆楦借倝鍧楃炕鐐掞紝鍐嶅姞鏂欓厭鍘昏叆;鏈€鍚庢斁鍏ュ濂界殑绾㈡灒鍜屾灨鏉炲瓙锛屽姞鍏ュ喎姘?Tweezers?It’s very effective. It’s very effective. It’s ℃ ℃ 咨 撣 栭 攨 鍐 咃 鎴 刀 刀 頣 淦 練  璬 钞 貺 璺 銆 現 珪 焪 焪It ‘s a good idea to add a child to a fortified castle. It ‘s a sorrow. It ‘s so easy to get to it. If you want to go there, you can go there if you want to.紝鐤艰€佸﹩鐨勬柊鐖哥埜浠篃鍙互鑷繁瀛︾潃鍋氬仛鐪嬪摝!

03 May

[Performance of orgasm disorder]_Orgasm disorder_Symptoms_Characteristics

[Performance of orgasm disorder]_Orgasm disorder_Symptoms_Characteristics

In the Huahua world, there are always some unpleasant things that will happen.

The occurrence of orgasm disorder affects both men and women, because this is also in the scope of life discord.

For orgasmic disorders, there will be some obvious manifestations, and friends can come and find out.

1. Sexual desire suppression The woman has sexual desire and impulse, but for some reason, she is unwilling to be exposed, unwilling to show and express, and is in a state of suppression.

2. Sexual aversion has an aversion to spouse and is unwilling to contact.

It can also manifest itself as an aversion to sex.

3, low sexual desire has no requirements for sexual life, no sexual desire, and shows an indifferent attitude.

4, sexual arousal disorders, sexual desire is produced slowly, impulse is delayed.

But if aroused, there can be normal sexual performance.

5. Orgasmic disorder (lack) can perform normal sexual activity.

Only lack of orgasm or not obvious.

But this issue is not a candidate, as long as both parties feel good, harmonious and happy.

This one is not necessarily the main issue.

6. Sexual pain includes pain in the vulva, vagina and lower abdomen.

Pain time can be divided into pain during sexual intercourse and after sexual intercourse.

7, vaginal fractures can be divided into two types of primary and secondary.

The former after marriage, as soon as the sexual organs contact, the vagina infarcts, making sexual life impossible.

There is a normal sexual life after marriage, which occurs months or years later.

According to the time when the shrinkage crack occurs, it can be divided into two types before sexual intercourse and during sexual intercourse.

The former, can not complete sexual life, and interrupted by the insertion of cross-linking, and even the spouse is extremely painful.

8, sexual intercourse must not be able to have sex.

Possibly, there are often subjective or objective reasons.

A thorough understanding and detailed inspection is required.

9. There may be many symptoms of discomfort after intercourse, such as nausea, vomiting, dizziness, headache and chest tightness.

10. Neurological worry and sexual phobia create horror and fear for the sexual life to be performed.

If you are usually exposed to this problem, it will also cause or cause neurological anxiety and worry.

In case of emergencies, the patient’s medical history and experience must be carefully and patiently understood.

28 Apr

[How to stew fish is delicious and simple]_How to make_How to make

[How to stew fish is delicious and simple]_How to make_How to make

In daily life, many people are particularly fond of fish. Fish is a food we are familiar with. There are many types of fish, and they are rich in nutrition. Frequently eating fish can help them grow and develop and their livers are very helpful. Many people sayIt makes sense to eat more fish when you have poor eyesight.

There are also many fish practices. Among them, fish stew is a practice that everyone likes. Fish stew is both delicious and simple.

Method 1 Ingredients: One yellow croaker, cooking wine, green onion, ginger, garlic, soy sauce, rock sugar, star anise, dried pepper, cinnamon, salt, boiling water.

Add onion ginger and cooking wine for about 20 minutes.

Pickled yellow croakers use kitchen paper towels to absorb moisture.

Put the right amount of oil in the pan, add the yellow croaker and fry until golden on both sides, and then add the star anise, onion ginger slices, dried peppers and incense.

Add the right amount of hot water, not over the fish, add the old soy sauce, salt and rock sugar and simmer over medium heat.

Spoon some soup with the spoon and pour it on the fish.

Finally, the juice can be collected by the fire. Do not collect the juice too dry. The bibimbap is delicious.

Method 2 Ingredients: Sturgeon production steps: first put the frozen fish bought from the supermarket in the water to thaw (fresh fish do not need this step), and then wash it.

Cut the spring onions, ginger, garlic, and parsley and put them on a plate.

Then fry the washed fish on both sides in a wok and add soy sauce.

Add the fried fish to the saucepan, add onion ginger garlic and a small bag of prepared fish stew.

Add water to the saucepan, cover the fish, cover, and simmer for 15-20 minutes.

When it comes out of the pan, add an appropriate amount of salt and sprinkle with cilantro. The fragrant stew is ready.

The first step of the fish stew technique is to remove the scales during the fish washing and cleaning process. There is also a heavy fishy thread inside the fish. It must be hidden under the gills, on both sides. Cut the fish and hold it with your hands.The line can be pulled out in one shot. Of course, some fish have a black film, and that one should be removed.

The second step is to make fish. First, pour the oil into the pan and heat it, heat the pan evenly, then add salt to season, and finally fry the fish in the pan. When cooking, remember to reduce the heat to medium and low.
The third step is to add half a cup of cooking wine when the frying is golden on the edges and stir-fry with onion, garlic, and ginger. If you like spicy food, you can put some dried peppers in it.

The fourth step is to add the fried fish to the soup pot and add boiling water (but the fish body), then add some tofu, set the fire, cover the pot and simmer, let the ingredients tumble, and wait for the flavor to accumulate before serving.

31 Mar

Sinoma International (600970): One Belt One Road Summit Fuels Upstream and Upstream Benefits Two Materials Reorganization

Sinoma International (600970): One Belt One Road Summit Fuels Upstream and Upstream Benefits Two Materials Reorganization

This report reads: single-quarter order growth trend upwards, orders in hand are redundant; Belt and Road Summit promotes upward, estimates / positions are low; benefiting from the reorganization of two materials, the gross profit margin is expected to continue to 杭州桑拿 rise and maintain an increase in holdings.

Investment Highlights: Maintain overweight.

The growth rate of orders in the single quarter is upward, and the number of orders in hand is redundant; the Belt and Road Summit will help the upward movement, and the estimates / positions are low; benefiting from the regeneration of two materials, the gross profit margin will continue to rise, and EPS0 will be raised for 2018/19/20.

78/0.

98/1.

19 yuan (previously 0.

76/0.

95/1.

18 yuan), with a growth rate of 40% / 26% / 21%, giving 11 times PE in 2019, raising the target price to 10.

78 yuan (original 6.

84 yuan), 40% space, increase holdings.

The single-quarter order growth trend is upward, and the orders in hand are redundant.

In the new year of 2018, the annual order is 31 billion (-14%), and the order growth rate in a single quarter is upward (Q1-Q4 growth rate is -22% / 25% / 48% / 43%), of which engineering / equipment / environmental protection / production and operation managementOrder growth rate was 47% /-33% / 121% / 13%.

44.4 billion (+ 1%) orders in hand, 2 of 2017 revenue.

3 times, sufficient orders in hand.

The Belt and Road Summit fueled the upward movement, with estimates / positions low.

1) The second summit has higher specifications / larger scale / more activities, and the Belt and Road is expected to become a hot spot again.

2) Overseas orders accounted for 71% in 2018, and overseas sales accounted for 81% in 2018H1, with high theme relevance.

3) The predicted net profit growth rate for 2019 is 26%, corresponding to only 8 times the PE, and the CSI 300 growth rate is 13%, corresponding to 10 times the PE.

4) The fund’s position at the end of 2018 was only 0.

08pct, higher than the high point before the first summit (4.

39pct) space resistance.

5) The company’s highest growth rate before the first summit is 78%, and the scale and specifications of the second summit are higher, which is expected to catalyze the formation of the event.

Benefiting from the regeneration of two materials, the gross profit margin is expected to continue to rise.

1) Benefiting from the reorganization of two materials: ① Overseas: The global market share of cement engineering is the first for 10 consecutive years. After the reorganization of the two materials, it will become the group’s leader in going overseas.

②Domestic: Hope to cooperate more with the group on co-processing of cement kilns.

2) Internationalized operations / refined management / localized operations, reducing internal homogeneous competition and reducing gross margins.

3) The impact of the GOE project on the company’s cash flow tends to weaken.

4) At the end of 2017, 17.42 million shares 青岛夜网 were granted to the core team at an exercise price of 9.

27 yuan, requiring 2018/19/20 to have a CAGR of no less than 18% for 2016 and a ROE of no less than 8.

9% / 9.

6% / 10.

3% to help release performance.

5) Selected as a double-hundred enterprise, hoping to reform the beneficiary country.

Risk factors: overseas engineering risks, business synergy after the reorganization of the two materials is less than expected, etc.

23 Mar

Yasui Food (603345): The cost control effect of performance exceeded expectations

Yasui Food (603345): The cost control effect of performance exceeded expectations

This report reads: Q4 benefited from price increases and advance stocking through channels, and both volume and price rose to drive accelerated revenue and performance growth.

As the industry leader, the company has strong cost control ability and its effect is outstanding.

The impact of the short-term epidemic has accelerated industry differentiation, and the company is expected to resume growth.

Investment highlights: Investment advice: Increase EPS to 1 in 2019 based on performance 杭州桑拿 forecast.

59 yuan (considering the impact of new equity, the previous 1).

50 yuan), due to the fair incentive booth cost and the impact of new equity, the EPS forecast for 2020-21 is reduced to 1.

63, 1.

96 yuan (previous time 1).

79, 2.

22 yuan), with reference to comparable companies giving 47 times PE in 2020, maintaining a target price of 75 yuan, maintaining an overweight rating.

Performance exceeded market expectations.

Revenue in 2019 was 52.

700 million, an increase of 23.

7%, net profit before and after returning to the mother 3.

7.3 billion, 3.

350,000 yuan, an increase of 38.

1%, 38.

1%.

19Q4 single-quarter revenue of 17.

700 million, an increase of 34.

5%, net profit attributable to mother 13.

50,000 yuan, an increase of 83.

1%, 79.

1%.

If we do not consider the amortization of 16.3 million equity incentive expenses in Q4 2019, net profit attributable to mothers will increase by 105%.

Q4 net interest rate rose by 2 per second.

02pct to 7.

6%, profitability has improved significantly.

Price increase is expected to be sufficient in the channel during the Spring Festival.

The gross profit margin rebounded to the highest level, and the cost control effect was good.

It is expected that the increase in gross profit margin will pick up. The company raised prices three times around October, and the overall price increase was about 10%. At the same time, the company adjusted its product structure to reduce the use of pork.

Expected expense ratio during the period continues to decline, of which the decline in sales expense ratio is more obvious, mainly due to the rising trend of raw material costs in advertising marketing, promotional gift channel cost compression elasticity overcome, is one of the main reasons for the decline in sales expense ratio.

The short-term epidemic affects the acceleration of industry differentiation, and the long-term value of the leader does not change.

2020 is expected to benefit from price increases and gross margins are expected to rise steadily.

The company has resumed work one after another. The industry will be rapidly differentiated and integrated due to the impact of the epidemic.

Core risks: the risk of catering being difficult to resume quickly, and the risk of excessive cost growth

18 Mar

Shun Xin Agriculture (000860): The outbreak of the Spring Festival off-season affects the prospects of small consumers

Shun Xin Agriculture (000860): The outbreak of the Spring Festival off-season affects the prospects of small consumers
Volkswagen’s low-grade liquor is mainly for self-drinking consumption. The pneumonia epidemic has little effect on the sales of Niulanshan Spring Festival.The pneumonia epidemic in Wuhan broke out around the Spring Festival, which has a certain restraint on the consumption of traditional liquor during the peak season. We believe that the low-end light bottle wine-based Niulanshan has little impact at present: 1) The Spring Festival is a low season for Niulanshan consumption.The annual sales share is relatively low.During the Spring Festival, there is obviously a consumption promotion file for liquor. In the gift-giving and family dinner consumption scenarios, a large amount of mid-to-high-end liquor is consumed; 2) Niulanshan’s low-end products are mainly self-drinking, and more than 70% are daily consumption at home.Catering is relatively low.Under the influence of the pneumonia epidemic, self-drinking consumption was basically unresponsive and even increased. The proportion of payment and delivery before the holiday is high, and logistics has no impact.According to the channel survey, the provinces have better sales completion in 2019. The dealers will have a higher 淡水桑拿网 percentage of payment before the Spring Festival in 2020. East China and Shandong will account for about 50% of the payment during the Spring Festival. At the same time, shipments before the Spring FestivalAccounted for more than 90% of the scale of play.The terminal sales before the Spring Festival are smooth. It is estimated that the proportion of the sales before the holiday accounts for about 50% of the deposits. The total amount of the Spring Festival and the current inventory is transferred at the county level dealers. It needs to be sold to 4 months in normal years, and there is basically no logistics transportation again.In the context of the current pneumonia epidemic, Niulanshan has basically completed the first half of the sale in advance and is not affected by logistics restrictions. It is expected that the growth potential of liquor sales will be good. The initial ex-factory price increase of 80% of products is expected to significantly increase liquor profits.According to reports such as Weijiu, starting from January 16, 2020, Niulanshan’s main products will increase the ex-factory price nationwide, and the range of price increase products will be close to 80%, and the price increase range is between 5% -10%.According to our in-depth report released in November last year on the sensitivity of the main product price increases, White Bull II increased its price by 0.In the case of 5 yuan / bottle, the company’s overall net interest rate increased by 3.6 units.  The main products covered by the price increase include White Bull II and vintage aging. The price increase is similar to the calculation. Taking into account the national Spring Festival payment ratio of about 50%, according to the epidemic situation in March, the price increase will be controlled in mid 2020.Began to respond to the statements, and is expected to increase the company’s annual profit from 2020-2021 by about 300 million in theory, and the company’s overall performance will improve significantly. Prolonging the cycle sees the company continue to increase its share of space with its brand and cost-effective advantages.The company’s current layout of the bottle price of 100 yuan with various internal price bands, 20 yuan gradually formed an internal advantage, the rapid growth of 30-40 yuan consumer acceptance is better, at the same time 60-70 yuan has also launched mainstream products.We believe that the consumption of light bottle wine is mainly based on self-drinking, pay attention to cost-effectiveness, and the mainstream price band has gradually increased from the past 20 yuan to 40 yuan now. In the future, sustainable development, Niulanshan, as the leader of the light bottle wine industry, focuses on concentration and brand power.Product strength, as well as the product layout of various price bands have considerable advantages, the growth is strong in terms of lengthening, and continue to recommend. Investment suggestion: Considering the impact of the epidemic on terminal sales, slightly adjust the revenue from 2019 to 2020 to 1.36 yuan, 1.98 yuan, corresponding to 35 PE for 2019-2020.3x, 24.3 x, slightly adjust 6-month target price to 65.34 yuan, which is equivalent to 33x price-earnings ratio in 2020, corresponding to the liquor business PE of 29x, maintaining a buy-A grade. Risk warning: The national expansion is less than expected; the structural upgrade is less than expected, and the epidemic situation has exceeded expectations.

15 Mar

Xin Fengming (603225): Improved profitability, optimistic about its long-term profitability

Xin Fengming (60无锡桑拿网3225): Improved profitability, optimistic about its long-term profitability

Event description: On August 23, 2019, the company released its 2019 Interim Report and achieved operating income of 163 in the first half of the year.

29 ppm, an increase of 3 per year.

34%; net profit attributable to mother is 5.

880,000 yuan, a decrease of 27 per year.

56%; deducted non-net profit is 5.

14 ‰, a decrease of 34 per year.

11%.

Event comment: The company believes that R & D is good at management and its efficiency is higher than the industry average.

The company’s core competitiveness lies in cost control.

In the first half of the year, sales expenses, management expenses, financial expenses, and R & D expenses accounted for 0% of revenue.

40%, 0.

83%, 0.

89%, 2.

1%.

Management ability is evident.

At 无锡桑拿网 the same time, the company has advanced equipment and a high degree of automation.

After increasing production capacity in the future, the scale and management advantages will be further highlighted.

The price of polyester filament fell, the spread narrowed, and the profit fell slightly.

According to the company’s operating data disclosure, the average prices of polyester filament POY, FDY and DTY dropped in the first half of 2019, being 7444.

66 yuan / ton, 8185.

92 yuan / ton, 9367.

48 yuan / ton, down 7 before.

67%, 6.

74%, 6.

98%.

Spreads narrowed and narrowed. In the first half of 2019, the average price differences for POY, FDY, and DTY were 1329.

36 yuan / ton, 1988.

34 yuan / ton, 3044.

70 yuan / ton, after which it fell by 253 yuan / ton, up 29.

31 yuan / ton, up 4.

58 yuan / ton.

The company’s polyester filament business revenue for the first half of the year was 143.

77 ppm, an increase of 24 per year.

50%.

The total production capacity of the company’s polyester filament will reach 470 tons at the end of the year. It is expected that the new silk production capacity will increase by 110 in 2020, which will promote the promotion of performance.

Starting on September 1, the United States will impose a 10% tariff on Chinese goods worth US $ 300 billion, and exports will be limited.

However, the recent depreciation of the renminbi has increased, stimulating exports, and exceeding the industry’s average level of production capacity costs and management and operating capabilities. The increase in tariffs has little effect on performance.

PTA has a better structure and continues to be bullish on its long-term profitability.According to the company’s operating data disclosure, the average PTA purchase price in the first half of 19 was 5531.

84 yuan / ton.

Up to 648.

57 yuan / ton.

In the future, after the domestic refining capacity is put into production, the price of PX will fall, and PTA profit is expected to further increase in the future.

After the company’s first-phase annual output of 220 plans PTA project is put into production in the third quarter of 19th, it will all meet production self-use, which is expected to further reduce production costs and open up profit margins. It is estimated that annual revenue will reach 320 after reaching production.

1.6 billion.

In 20 years, the company is expected to invest another 220 years. PTA, the company will adhere to the “PTA-filament” basic line and extend the company’s industrial chain.

The company’s additional issuance of funds has been approved to ensure the smooth commissioning of the project.

The company issued an announcement on July 1. The company’s application for non-public issuance of A shares has been reviewed and approved by the issuance review committee of the China Securities Regulatory Commission.

The number of shares to be issued this time will not exceed 20% of the total share capital of the current company, that is, not more than 1.

6.9 billion shares, with raised funds not exceeding RMB 3.7 billion.

It is planned to be used in “Zhejiang Dushan Energy Co., Ltd.’s 220-ton-per-year PTA project” and “Huzhou Zhongyue Chemical Fiber Co., Ltd.’s 56-year replacement conversion and functional fiber new material project”, which will help the company improve its financial situation and strengthenSustainability and ability to resist risks.

Investment suggestion: We believe that the company is a leader in polyester filament, and the commissioning of the PTA project will enhance its ability to resist risks and is optimistic about the company’s long-term development.

It is estimated that the net profit attributable to mothers in 2019/20/21 will be 14 respectively.

24/24.

25/29.

19 trillion, corresponding to EPS 1.

20/2.

04/2.

45 yuan, the corresponding PE is 9.

43/5.

54/4.

60 times, maintaining the “highly recommended” level.

Risk Warning: The downstream demand is less than expected; the project construction progress is less than expected.

07 Mar

Yunnan Copper (000878) Quarterly Report Review: Supplementary Capacity Lifting Shows Endogenous Profitability Enhancement

Yunnan Copper (000878) Quarterly Report Review: Supplementary Capacity Lifting Shows Endogenous Profitability Enhancement

I. Overview of the Event Yunnan Copper released the 2019 first quarter report on the evening of April 26.

Reported that the top companies achieved operating income of 114.

12 ppm, an increase of 22 per year.

82%; net profit attributable to mothers1.

74 million, an increase of 61 every year.

81%.

Second, the analysis 夜来香体验网and judgment of increasing productivity and increasing profits, and a report on the continuous optimization of profit structure, the company’s smelting copper production capacity has been released steadily, and the effect of eliminating low-margin trading has gradually emerged.

In July 2018, 40 units / year of Southeast Smelting Base entered the ignition trial production stage, and the company’s smelting capacity was significantly improved.

Although the average LME copper price ratio fell by 10 from January to March.

71%, but the increase in production capacity has partially offset the impact of price resets.

At the same time, the company gradually phased out the low-margin trading copper business and optimized the company’s profit structure. Overall, the company’s gross profit margin increased from the same period of the first quarter of 2018.

68 units.

The rise in the three fees dragged down the performance. Short-term financial cost pressures still existed. After taking into account the factors of unconventional gains and losses, the company’s net profit due to non-return to mothers rose.

33%, year-on-year fluctuations.

The reason was an increase in administrative expenses, R & D expenses, and financial expenses by 53.

14%, 210.

68%, 62.

70%.

Among them, the management cost is essentially due to the downtime loss and salary accrual caused by the upgrading of the safety facilities of the mine, which will not have a long-term continuous impact; the increase in financial costs is due to the increase in financing requirements brought by the company’s capacity expansion in 2018.pressure.
The upstream resource reserves have steadily expanded, and the endogenous profitability has been enhanced. The company has steadily advanced the upstream resources and smelting capacity layout.

The company’s resource-side reserves are expected to continue to expand. Diqing Nonferrous Metals has obtained the mining rights of Prang and the surrounding mining rights of Prang, with an annual output of about 6 copper-containing copper metals.

4 nominal (equity output is about 3.

2 Preliminary), expected to reach production in 2020.

At the same time, the Southeast Smeltery is in the trial production stage. After the expansion of Chifeng Yunnan Copper, it will reach 40 cubic meters per year. By then, the copper smelting scale will increase to 120 cubic meters per year.

The company is expected to increase profitability through outbound mergers and acquisitions and endogenous growth.

Third, the investment proposal takes into account the company’s active merger and acquisition of high-quality resources, enhanced endogenous profitability, optimized profit structure, and optimistic Sino-US trade negotiations, which will help copper prices to recover, and the company is expected to be 0 in 2019-2021.

17/0.

26/0.

35 yuan, corresponding to the current sustainable PE is 66/4苏州夜网论坛 1 / 31X.

Yunnan Copper is currently estimated to be at an intermediate point value of 52% since 2013. Considering that the fundamental situation in 2019 is better, a “recommended” rating is given.

Fourth, risks suggest that metal prices fell more than expected, the project’s commissioning progress fell short of expectations, and downstream demand fell more than expected.

15 Feb

How to clean the navel eyes

How to clean the navel eyes

A recent study by American scientists found that the human navel is a bacterial den, which contains about 1,400 kinds of bacteria.

God, we can find ways to stay away from the dust parasites, but what should these bacteria carry on the body?

  Are there really bacteria in the navel?

  A recent study by American scientists found that the human navel is a bacterial den, which contains about 1,400 kinds of bacteria.
80% of these bacteria have been confirmed, they come from 40 common bacterial parasites, mainly harmless skin bacterial bacteria.

In addition, the number of bacteria in the navel varies depending on how often the owner cleans the navel.

  It is understood that this study was conducted by the Navel Biodiversity Project Group of the University of North Carolina, and a total of 662 unknown bacteria were found.

Science writer Carl Zemmer is one of the “samples”-there are at least 53 different bacteria parasitic in his navel, some of which have a surprising source.

Some of the bacteria found in my navel are found only in the ocean, such as Mari-monas; there is also a bacteria called Georgenia, which was only found in Japanese soil by scientists before me.

“The researchers said,” In our daily life, we rarely notice the presence of the navel, and very few people clean the bacteria often, which provides an excellent opportunity for bacteria to survive. ”

The discovery could lead people to spend more time cleaning their navels.

  Where does the navel eye come from to the belly?

  In order for the fetus to grow and develop in the mother’s abdomen, it must constantly take in nutrients and oxygen from the mother.

However, in the mother’s abdomen, the fetus has a mouth that cannot eat, and a nose that cannot breathe. Everything needed for a new life during the pregnancy can only be absorbed by the placenta on the mother’s body and transported into the body through the umbilical cord.

After the baby fell to the ground, the placenta and umbilical cord lost their attribution and fulfilled their historical mission, so the doctor cut them from their bodies.

Since there are no painful nerves on the umbilical cord, most will not feel pain.

The remaining part will be replaced automatically after a few days, and a small navel eye will always be left on the person.

  After birth, the navel is still useful. Human internal organs can get part of the oxygen through the navel.

Constipation can occur if you stick the belly button with tape.

  Called from Chinese medicine, the navel, umbilicus, commonly known as the navel eye, and traditional Chinese medicine is called the “shen”.

  Observe the navel from the umbilical secretions for abnormal signs. Pay attention to the navel secretions.

Normal people’s navel skin is moist and no abnormal secretion.

If there is pus, mucus, or stool-like secretions in the umbilicus, there are complications in the umbilicus or abdominal organs.

  ● Pus-like secretions: The umbilical area of the newborn is red and swollen, and there is exudation of pus. Most of the umbilical cord stumps should be properly disinfected after birth and caused by infection.

Umbilitis must be treated in a timely manner, usually with topical anti-inflammatory drugs, which can be cured within a few days, otherwise it will develop into sepsis.

  Exudation is also seen in adult umbilical infections.

Those who are obese, or who don’t pay attention to the cleanliness of the umbilical, so that the dirt and sebum secretions form a hard umbilical stone, abrasions and secondary bacterial infection.

Local navel swelling and erosion, purulent discharge, foul odor.

External antibiotic ointment is effective.

  ● Mucus purulent secretions: Acquired abdominal wall and bladder canal formation. Mucus or pus can often be replaced in the navel.

This is due to complications of the abdominal organs, such as acute cholecystitis, tuberculous peritonitis, ductal cancer, etc. After the invasion spreads to the abdominal wall, it will naturally rupture and form a sinus, and mucopurulent secretions emerge from the sinus.

Since the sinus tract often occurs in the weakest umbilical part of the abdominal wall, it is also called acquired umbilical sac.

  ● Fecal-like secretions: The yolk duct is a tube that connects the yolk sac and the interconnection during the period of hypertension. Normally, the yolk duct is locked into a string after 2 months of birth and gradually disappears.

However, a small number of people remained afterwards, so they saw a bright red mucous membrane protruding from the umbilical foramen, and there was interrupted venting or stool-like substances. This is the yolk tube bag and requires surgery.

  Can the navel eye mud be removed?

  The navel is the trace of the umbilical cord that connects the fetus to the mother. As part of the human prostate organs, the navel is more closely linked to the skin and abdominal cavity than elsewhere in the abdomen.

Therefore, improper washing methods cause irritation of the internal organs in the abdominal cavity (mainly the small intestine), causing discomfort in the digestive system, that is, stomach pain.

  Therefore, the mud in the navel is not to be washed, otherwise it should be kept clean.However, the method of washing the navel is more elaborate. It can’t be as hard as rubbing the bathtub and snot, or you should use a soft cotton swab or something to dip it in the bath.

  How to take care of the umbilical part Pay attention to the hygiene of the umbilical part. Pay attention to preventing the “wind”. The umbilical area is the gastrointestinal part, which is easy to get cold, so you should prevent the umbilical part from getting cold.

It is better not to wear exposed umbilical cords in the morning, late weather or cooler or rainy weather. It is better not to wear exposed umbilical cords when riding bicycles or bicycles. Cover your belly with a thin object or use an umbilical cord when sleeping.

  Prevent accidental injury to the umbilicus. The umbilical area is exposed. Because of the protection of clothing, it is often vulnerable to accidental injuries, such as burns, abrasions, and scratches.

Therefore, be careful in your daily life or work.

  Try not to decorate the MMs who are greedy and beautiful. They often feel that wearing an umbilical dress is not enough to attract eyeballs. They like to paste patterns on the umbilicus, and even permanent decorations.

However, this will cause certain health risks.

Because the sticker will impact the skin’s excretory function, it may cause skin diseases such as eczema, sweat rash: the pigments of the ornaments often contain some chemical components that are harmful to the body, such as the ornaments in the business place, multiple needles may also spread infectious diseases.

So be cautious when carrying out decoration.

  Interesting facts about the navel: 1. For women, the close connection between the navel nerve and the clitoris is also an important excitement. Many women have a strong reaction to the navel kiss and caress.

  2. In the fashion industry, women’s navel has always been the most ambiguous and open element of visual performance.

That’s why there is a popular navel outfit, and even beauty lovers wear a navel ring on the navel.

  3. In terms of the golden section of the human body, the navel is an important visual mark of the female body.

It is also a symbol of sexy!

  4. On those full-bodied people, the shape of the navel is almost round, but on thin people, the navel looks more like a vertical crack.

A survey of works of art shows that the obesity of ancient women is generally more than that of modern women. Among them, those who have round navels account for 92%; similar surveys of modern photography models show thatNavel-shaped people only account for 54% of the total, so today, with thinness as the beauty, women are almost six times more likely to have a vertical navel than before.

  Tip: If your stomach hurts, motion sickness, etc., just apply a little white flower oil to your belly button.