[Comparison of the functions of bananas and plantains]

銆愰钑夊拰澶ц晧鐨勫姛鐢ㄦ瘮杈冦€慱澶ц晧_鍔熸晥
The problem is that the father and the father are still in trouble, and the problem is still there: it ‘s so bad, it ‘s so bad, it ‘s hard to find it.緢澶氫汉閮芥瘮杈冨枩娆㈠悆棣欒晧銆備絾鏄钑夋€у瘨锛屼竴鑸劸鑳冭櫄瀵掔殑浜哄敖閲忓皯鍚冮钑夈€傚ぇ钑夋槸涓€绉嶅崡鏂圭殑鐗逛骇锛屽ス鍜岄钑夌被浼硷紝浣嗘槸涔熸湁涓€瀹氱殑鍖哄埆銆傚畠浠殑鍔熸晥铏界劧鐩歌繎锛屼絾鏄簩鑰呭嵈骞朵笉瀹屽叏鐩稿悓锛岄偅涔堣繖涓よ€呭叿浣撴湁浠€涔堝姛鏁堝憿锛熶袱绉嶉兘瀵硅韩浣撴湁鐩婏紝瀹冧滑鍔熸晥鍩烘湰鐩稿悓锛屽彧鏄暐鏈夊亸宸€傛瘮濡傝閫氫究浣滅敤锛屽ぇ钑夊惈鏈夌殑鑳惰川鎴愬垎姣旇緝楂橈紝閫氫究鏁堟灉浼氭洿濂戒簺銆備笁绉嶈晧鐩告瘮杈冿紝棣欒晧鏇村亸瀵掑噳锛岃劸鑳冭櫄瀵掋€佷究婧忚吂娉昏€呬笉瀹滃椋熴€傞钑夋槸浜轰滑鍠滅埍鐨勬按鏋滀箣涓€锛屽緢澶氫汉閮界煡閬撳悆棣欒晧鑳介€氫究锛屽叾瀹炲畠杩樻湁璁稿鍏朵粬鍔熸晥锛屾瘮濡傛娲蹭汉鍥犲畠鑳借В闄ゅ咖閮佽€岀О瀹冧负鈥滃揩涔愭按鏋溾€濄€傞櫎浜嗛钑夛紝鍦ㄥ崡鏂硅繕鏈夊ぇ钑夊拰绮夎晧銆傞钑夈€佸ぇ钑夊拰绮夎晧澶栬涓嶅悓锛屼笉杩囧姛鏁堝熀鏈浉鍚岋紝鍙槸鐣ユ湁鍋忓樊銆傚寘鎷钑夈€佺矇钑夈€佸ぇ钑夊湪鍐咃紝閮藉叿鏈夋按鍒嗕綆銆佺儹閲忛珮鐨勭壒鐐广€傚畠浠惈鏈夎泲鐧借川銆佽剛鑲€佹穩绮夈€佽兌璐ㄥ強涓板瘜鐨勭⒊姘村寲鍚堢墿(楂樿揪20%浠ヤ笂)銆佺淮鐢熺礌A 銆 丅 銆?B6銆丆銆丒銆丳鍙婄熆鐗╄川閽欍€佺7銆侀搧銆侀晛銆侀捑绛夛紝鍏朵腑閽惧惈閲忎负鐧炬灉涔嬪啝锛岄晛鍚噺浜﹂珮銆備粠钀ュ吇鐨勮搴︽潵鍒嗘瀽锛岃晧涓殑绯栧垎鍙繀閫熻浆鍖栦负钁¤悇绯栵紝绔嬪埢琚汉浣撳惛 鏀讹紝鏄竴绉嶅揩閫熺殑鑳介噺鏉ユ簮锛岄潪甯搁€傚悎杩愬姩鍛樺湪杩愬姩涓ˉ瓒宠韩浣撹繀閫熸祦澶辩殑鑳介噺銆傞捑瀵逛汉浣撶殑閽犲叿鏈夋姂鍒朵綔鐢紝鍙檷浣庤鍘嬶紝棰勯槻楂樿鍘嬪拰蹇冭绠$柧鐥呫€傜爺绌舵樉绀猴紝 姣忓ぉ鍚冧袱鏉¢钑夛紝鍙湁鏁堥檷浣?0%琛€鍘嬨€傝晧鍐呭惈涓板瘜鐨勫彲婧舵€х氦缁达紝涔熷氨鏄灉鑳讹紝鍙府鍔╂秷鍖栵紝璋冩暣鑲犺儍鏈鸿兘锛屾湁闃叉不渚跨涔嬪姛鏁堛€傚湪涓尰鐪?鏉ワ紝钑夊懗鐢橈紝鎬у瘨锛屾湁娓呯儹銆佹鼎鑲犮€佽В姣掔殑鍔熻兘锛屽彲鐢ㄤ簬鐑梾鐑︽复銆佷究绉樸€佺棧琛€锛屽挨鍏堕€傚悎鍙e共鐑﹁簛銆佸捊骞插枆鐥涖€佸ぇ渚垮共鐕ャ€佺棓鐤€佷笂娑堝寲閬撴簝鐤°€侀ギ閰掕繃閲忚€屽閱?鏈В銆侀珮琛€鍘嬨€佸啝蹇冪梾銆佸姩鑴夌‖鍖栬€呴鐢ㄣ€傛澶栵紝钑夌毊鍙敤浜庨珮琛€鍘嬨€佺棦鐤俱€佺毊鑲ょ槞鐥掔瓑銆傝晧濂藉悆锛屼絾骞堕潪浜轰汉鐨嗗疁锛屾瘮濡傝钑夌殑鍚捑閲忛珮锛岃偩鍔熻兘涓嶅叏鐨勭梾浜烘槸涓?绂佸悆楂橀捑椋熺墿鐨勶紝鍖荤敓涔熸彁閱掕繖绫绘偅鑰呬笉瑕佸悆钑夈€?

[How to cook cowpea porridge]_How to make_How to make

[How to cook cowpea porridge]_How to make_How to make

Cowpea is a kind of food that people can often eat, and there are many ways to do it. Many friends who like to drink like to use cowpea for instant dishes.

In fact, cowpea can also be used as a staple food. Cowpea porridge is a delicious staple food. How to cook cowpea porridge?

The following is a detailed introduction to the raw materials, methods, and people who are suitable for eating cowpea porridge. You can learn about it.

First, cowpea porridge raw materials and methods Cowpea porridge[characteristics]Cooking in summer can quench the thirst, and it is very fragrant and can meet the nutritional needs of the body.

[Raw bean porridge rice ingredients]Millet, old cowpea two or two.

[How to make cowpea porridge]1. Select old cowpea, wash it, and chop it into two to three centimeters long by hand.

2. Put the pot used for porridge on the stove, add one and a half pounds of water, boil, put in the millet and cowpea, remove the lid, and cook on medium heat until the porridge is cooked.

Second, cowpea is suitable for the general population.

1.

Especially suitable for patients with diabetes, kidney deficiency, frequent urination, nocturnal emission and some gynecological functional diseases; 2.

Those who have stagnation of qi stagnation should eat cowpea with caution; 3.

Cowpeas should be cooked and eaten hot. Unripe beans can easily cause diarrhea and poisoning.

Third, the efficacy and role of cowpea is that the skin of cowpea is bare pink and edible. It contains a small amount of calcium, iron, zinc, protein, impurities, phosphorus, supplementary fiber and multiple vitamins, which has a good effect on the human body.

First, aunts and proteins in cowpea are good for the body’s metabolism.

Second, the vitamins in cowpea and fiber supplementation can promote digestion and appetite, while improving gastrointestinal motility, improving antibody synthesis in the human body, and improving human immunity.

Third, cowpea is rich in phosphorus, which is an important factor to promote insulin secretion. Therefore, for patients with diabetes, eating cowpea more will help them to further control the disease and recover soon.

The function and efficacy of cowpea is also reflected in its own properties. Cowpea is a kind of gentle ingredients, so it is suitable for everyone to eat, especially bad gastrointestinal, indigestion, gynecological diseases and the elderly.

But it should be noted that although cowpea is good, it should not be eaten too much, otherwise it will cause adverse consequences.

[Chai turkey clay stove]_ Chai turkey _ practice Daquan _ how to do

[Chai turkey clay stove]_ Chai turkey _ practice Daquan _ how to do

The firewood turkey clay stove is a special food cooking method. It is also because of its unique flavor that people love, and the chicken itself has a good effect of nourishing qi, nourishing blood, kidney and nourishing essence, so understand its productionMethod, then the health care of the body is also very good.

First, the main ingredients: 250 grams of turkey meat, 2 cans of canned mung bean 400 g, canned small tomatoes 2 cans 400 g, seasoning: 1 sachet, 41 g, canned Mexican pepper 100 g, canned Italian tomato pepper700 grams of sauce, 1 onion, 225 ml of water, method 1, mashed turkey, drained canned mung beans, and chopped onion.

2. Put all ingredients into a saucepan and simmer for 3-4 hours on low heat.

Just while it’s hot.

Second, nutritional Chinese medicine believes that chicken is sweet and slightly warm.

Can warm the spleen, nourishing qi and nourishing blood, nourishing kidney and nourishing essence.

Chicken contains vitamins C, E, etc. The protein content is relatively high, there are many types, and the digestibility is high. It is easily absorbed and utilized by the human body.It is one of the important sources of phospholipids in Chinese precipitation structures.

Chicken has good therapeutic effects on malnutrition, chills and cold, fatigue, fatigue, irregular menstruation, anemia, and weakness.

Traditional Chinese medicine believes that chicken has the effects of warming and invigorating qi, filling deficiency and filling essence, strengthening the spleen and stomach, promoting blood circulation, and strengthening bones and bones.

There are many types of chicken, but as a beauty food, black chicken is better.

Its sweet taste is warm and contains many ingredients such as protein, trace amounts, thiamine, riboflavin, niacin, vitamin A, vitamin C, cholesterol, calcium, phosphorus, iron and other ingredients.

[How to eat sweet wine brewing]_Sweet wine brewing_How to eat_How to eat

銆愮敎閰掗吙鎬庝箞鍚冦€慱鐢滈厭閰縚濡備綍鍚僟鎬庢牱鍚?
鐢滈厭閰垮張鍙背閰掞紝杩欐槸涓€绉嶅崡鏂圭壒浜э紝鍒╃敤绯背绛夎胺鐗╁彂閰佃€屾垚锛屽叾閰掔簿鍚 噺?I ‘m tired of reading it, I ‘m sorry, I ‘m sorry, I ‘m sorry, I ‘m sorry, I ‘m happy, I ‘m happy, I ‘m happy, I ‘m happy, I ‘m happy, I ‘m happy, I ‘m happy忛ギ鐢ㄤ細浜х敓閱夐厭鎰熻锛屽洜姝わ紝姝g‘楗敤鐢滈厭閰垮鍋ュ悍闈炲父閲嶈锛岃€岀敎閰掗吙鎬庝箞鍚冩瘮杈冨ソ鍛紵 1銆佹寫閫夌背閰掔殑鏃跺€欏敖閲忛€夋嫨閲岃竟鐨勭背姣旇緝澶氱殑锛岀背閰掍富瑕佹槸鍚冪背鐨勶紝瀵瑰惂锛屽浜庡彛鍛筹紝鐜板湪澶ч儴鍒嗚秴甯傞噷鍗栫殑鏈€澶氱殑鍝佺墝灏卞彲浠ワ紝鍏朵粬鐨勭毊鐗屽彛鎰熺浉瀵规潵璁叉病鏈夎繖涓唶鍘氾紝杩欎釜鏍规嵁涓汉鍙e懗鏉ラ€変簡銆?2銆佹瘡娆$背閰掔殑鐢ㄩ噺涓€浜轰唤鐨勯噺澶х害鏄袱鍕烘垨鑰呮槸3鍕猴紝鍓╀笅鐨勬牴鎹汉鏁扮浉鍔犵敤閲忥紝涓€鐩掔背閰掑熀鏈笂涓€涓汉鍙互浣跨敤濂戒箙銆?3 銆 乺 間 斓 斓 堡 間 咫 咫 咫 喫 咫 咫 喫喫喫 哫 擶 擶 擶 擶 擶 擶 擶 鏦  紑 駑 姾 姾 咾 間 閖 閏 鍏 鍏 閏 閏 駏 像 僤斁绫筹紝绛夋按寮€鍚庡氨鍙互浜嗐€?銆佸厜鍠濈背閰掓堡姣旇緝鍗曡皟鍙互鍦ㄧ背閰掓堡涓姞鍏ョ伀鑵胯偁鎴栬€呴浮铔嬭繕鏈夌櫧鐮傜硸锛岀櫧鐮傜硸鍙互鎺╃洊绫抽厭鐨勯厭绮惧懗閬撱€?銆佺叜楦¤泲绫抽厭姹ょ殑鏃跺€欐敞鎰忎竴涓粏鑺傦紝涓嶈鎶婇浮铔嬫墦鐨勫お灏忎簡锛屽厛鎶婃暎寮€鐨勯浮铔嬬洿鎺ユ斁杩涚叜寮€鐨勬按涓劧鍚庢妸铔嬮粍鎼呮暎涓€鐐癸紝瑕佷笉鐒跺氨鐓垚鑽峰寘铔嬩簡锛岀劧鍚庤楦¤泲鍦ㄧ叜寮€鐨勬按涓畾鍨嬶紝杩欎釜鏃跺€欎竴瀹氳澶х伀锛屼笉鍋滅殑鎼呮媽灏卞鏄撹楦¤泲澶浜嗐€?銆佸鏋滃閲屼汉灏戠殑鎯呭喌涓嬪缓璁€夋嫨鐜荤拑鐡剁殑绫抽厭锛岃繖鏍锋瘮杈冨鏄撲繚瀛橈紝濡傛灉鏄洅瑁呯殑锛屽浜哄皯鐨勬儏鍐典笅鏀剧殑鏃堕棿闀夸簡灏辨病鏈夐厭鐨勫懗閬撲簡銆?

[Baby Allergies to Cod]_Cod Allergies_Baby_How to Care

[Baby Allergies to Cod]_Cod Allergies_Baby_How to Care

Children usually have poor physical resistance because of their poor body resistance and inadvertent diet, which can easily cause allergies after eating cod. Cod is a fish in the deep sea and seafood is easy.As a result of the child’s allergies, parents should stop eating cod for their children at this time, ensure that the diet is light, engage in outdoor sports, and improve resistance.

Answers to increase the amount of outdoor exercise for babies: For babies with congenital allergies, as the age increases, the baby’s physique will change, the immune system will gradually mature, and most allergic symptoms will improve.

Moderate exercise every day can increase the baby’s adrenal gland secretion, activate the baby’s immune cells, improve immunity, and make the baby change the susceptible physique as soon as possible.

In this type of sports, regular and progressive sports are selected, such as running, doing exercises, and playing ball.

Of course, if you can help your baby use the sun during exercise, it is best, because the baby who lacks the sun is not only afraid of cold, but also easily disturbed, which is very bad for improving allergies.

Solution: Older babies can increase the amount of outdoor exercise appropriately.

Medical experts recommend getting your baby to swim more.

Swimming can train your baby to adapt to cold water, temperature and humidity; reducing it can also improve your baby’s lung capacity and avoid allergic diseases caused by poor lung function.

For an acute baby, don’t let him do intense exercise to avoid accidents during exercise.

In addition, pay attention to the seasons with large changes in temperature and temperature, pay attention to warming measures, and avoid babies exercising in a dirty environment. Avoid eating cold food and drinks after exercise.

For example, on a cold day, when you take your baby out to exercise, do not let your baby be overly tired, but also cover your baby’s nose and nose with a breathable scarf.This can cause allergies.

Experts answer for prolonged breastfeeding: Breast milk is the most suitable food for babies, and it is also the least sensitive food.

Most scholars believe that the antiallergic mechanism of breast milk has the effects of prevention, reduction and delay.

And it is recommended: give the baby at least 4?
6-month breast milk has a preventive effect on the baby’s allergic symptoms.

American dietitian also believes that breast milk can minimize the possibility of allergic reactions, so mothers should not rush to wean their babies.

The proportion of breastfed babies to artificially fed babies is only one-third to one-tenth of those who are allergic to protein in milk.

Babies who have been exclusively breastfed for more than 4 months have a 1/2 chance of developing asthma when they grow up.

Therefore, teen mothers breastfeed.

Reason: The baby does not need to feed anything in the first 6 months. All nutrition is obtained from breast milk, which can largely prevent allergens that enter the body from the external environment.

Most of the baby’s allergies come from the mother. The mother has allergies. About 33% of the time, the baby will have an allergy. If there is already an allergic baby in the family, then the newborn baby will have a 67% chance of having an allergy.

For “high-risk” babies, like those with a history of allergies in the family, the diet of breastfeeding mothers should also pay attention to avoid absorption of some susceptible foods, so as to prevent allergens from passing to the baby through milk.

Clean your baby’s bedroom clean Expert answer: The improvement of the home environment is the most important part in the treatment and prevention of allergic diseases.

Controlling the humidity of the environment, reducing dust in the bedroom, and avoiding contact with irritants are effective means to prevent allergies.

Common allergens include: dust mites, molds and cockroaches.

Dust mites are a kind of microorganisms that can be seen under a microscope, about 0.

2 cm?
0.

5 centimeters of skin replaced by humans or animals. Hair is the main food, and it likes to grow in warm and upside down places.

According to the life characteristics of dust mites, corresponding measures can be adopted to reduce them.

Semir Apparel (002563) In-depth Report: Rereading Semir Financial Report: Starting a new journey from scratch

Semir Apparel (002563) In-depth Report: Rereading Semir Financial Report: Starting a new journey from scratch

Highlights of the report The main business maintained a high growth. The niche strengthened the main business of Senma Garment. The main business has continued to improve since 17Q4, reducing the impact of Kidiliz’s consolidation and the drag on new impairment charges.

In 2018, Semir apparel revenue increased by 30 in ten years.

At 7%, net profit attributable to mothers grows 48 per year.

8%; 19Q1 revenue grows 63% annually.

9%, net profit attributable to mother increases by 11.
.

1%.

Kidiliz’s consolidation affects the break, its operating performance drags down operating profit, and the negative goodwill formed by the acquisition contributes to merger revenue.

Excluding the impact of the consolidation, it is expected that the revenue of the main business in 2018 will increase by 24 each year.

1% to 1深圳桑拿网49.

2 billion, the net profit attributable to mothers increases by 39 each year.

4% to 15.

900 million; 19Q1 revenue grows 32 annually.

3% to 33.

200 million, net profit attributable to mothers increases by 22 per year.

4% to 3.

8 billion.

If the additional value-added of investment real estate and fixed assets is further reduced, the potential profit of the main business in 2018 is expected to reach 17.

700 million.

From a financial point of view, the stability of operations has increased. The quality of operations has increased steadily. The upstream and downstream cooperation relationships have been optimized. It is expected that channel inventory and franchisee profits will be in a better state.

First, from the perspective of inventory, it is expected that the inventory turnover rate of the original 南京夜网 main business will be reduced by 0 in 2018.

3 times to 3.

1 time; taking into account that the decline in the value of inventory losses in the inventory at the end of the period is reduced by 5.

6pct to 12.

6%, and at the end of 18, the expected return after the period is 0 less than the beginning of the period.

5.8 billion, we judge that the inventory structure is optimized and the channel inventory is controllable.

In general, the scale of downstream channels is expected to gradually increase the account receivable turnover rate of the original main business in 20183.

6 times to 10.

Eight times, the proportion of capital occupation fee included in the credit to the credit franchisee was reduced by 0.

07pct to 0.

23%. The efficiency of the main business collection improved and the credit support to franchisees weakened. It is expected that channel profit will improve.

Once again, upstream cooperation is strengthened. It is expected that the account turnover rate of the original main business in 2018 will gradually increase to zero.

3 times to 5.

Three times, under the tightening of the financing environment, we will speed up the support for upstream purchase repayment, and at the same time lock in high-quality raw materials through out-of-date procurement. It is expected that the quality of supply-side control will be optimized.

The three major logics continue to be verified, and it is estimated that there is still room for improvement in solid growth and the expectation is strengthened. The company is optimistic about the value re-evaluation brought by the switch from the casual leader to the children’s wear leader.

Judging from the operating results of 2018 and 19Q1, our three core recommendation logics have been continuously verified: (1) The children’s clothing leader has continued to strengthen, and its market share in 2018 has increased by 0.

7 points to 5.

6%, ranking 2-5 children’s clothing brands, the total share increased by 0.
3 points to 4.
3%, based on the increase in track dividends and competitive advantages, it is expected that the children’s clothing business will still maintain high-speed growth; (2) the transformation and transformation of casual wear, which has expanded rapidly in 18 years and has a good sales trend.3) Optimization of governance structure, incentives for professional operators team to land one after another, and at the same time shortening the reduction and closing of the holdings, and the suppression of transaction scale suppression.

The main business in 2019 is still expected to continue its rapid growth. Kidiliz’s loss reduction has limited drag on performance.

Expected performance in 2019-2019.

100 million, 22.

500 million, corresponding to PE of 14.

5 times, 12.

3x, maintain “Buy” rating.

Risk reminders: 1. Risk of deterioration of the terminal retail environment; 2. Risks of less-than-expected development of emerging channels; 3. Risks of worse-than-expected merger and acquisition integration.

High Energy Environment (603588) Research Briefing: Leading Soil Remediation Companies Expected to Continue to Expand Market Size

High Energy Environment (603588) Research Briefing: Leading Soil Remediation Companies Expected to Continue to Expand Market Size
Event: Recently, we conducted a survey on the company and exchanged information with relevant personnel on the development of the industry, the company’s market development, project construction progress, capital expenditure, and foreign investment. Key points of investment: The soil remediation business is highly competitive, achieving sustained high growth in 19 years.The company’s main business covers the two major areas of environmental restoration and solid waste treatment. Among them, the restoration business includes three major areas: soil, groundwater and landfill restoration.Benefiting from the formal implementation of the Soil Pollution Prevention and Control Law and the central government’s bonus for pollution prevention policy support, soil remediation has entered a period of rapid development.Among them, the restoration of industrial polluted sites before 18 years showed a rapid growth trend, and the number of projects reached 200, an increase of 83.49%; the total amount of the project is 60.6 ppm, an increase of 68 in ten years.80%.The company has abundant technology reserves in the field of soil remediation. Its repair technologies cover mainstream technological paths such as steam extraction, thermal desorption repair, curing / stable repair technology, and microbial soil repair. It also implements customized repair technology integration capabilities for specific pollution projects.In the past 18 years, the number of industry participants has gradually increased, and the market share of the top five cities has declined. As the industry leader, the company’s market share has increased to 15%, reflecting its technical level, and the project experience is fully recognized by the market.The company’s soil remediation business market expansion implements the strategy of “going eastward and going southward”, fully taking into account the local government’s ability to pay, pay cycle, pay close attention to project quality, and expand projects in economically developed regions.In 18 years, the company’s environmental restoration business realized operating income12.950,000 yuan, an increase of 68 in ten years.55%, and increased repair orders by 20.7.9 billion.19 In the past, the company won the bid for the implementation project of soil restoration at the Binjiang E2 site, the site restoration project at the Guangzhou Zinc Tablet Factory, and the site restoration project at the former Nantong Essence Pharmaceutical Raw Material Branch Plant. The hazardous waste treatment business has developed rapidly, focusing on the increase in production capacity and fluctuations in prices of resource-based products.The company continues to expand its hazardous waste treatment capabilities through investment in self-construction and outreach acquisitions. As of the end of 18 years, the company operates Yangxin Pengfu, Jingyuan Hongda, Tengzhou High Energy, CNMC Oriental, Guizhou Hongda, Ningbo Dadi, Guilin High Energy, Hezhou High Energy Hazardous Waste Treatment Project.The total approved scale of 8 operation projects is 50.47 spring / year, involving 33 categories of 46 categories of hazardous waste list.At the same time, the company expects to build a new Leshan project, Liangshan project, Mengxi project, and expansion of Tengzhou high-energy project in 19 years. The total approved operation scale exceeds 30 indicators.If all are put into operation, the company’s hazardous waste treatment capacity will be significantly improved.It is worth mentioning that the company has handled 17 hazardous wastes in the past 18 years, and the throughput has gradually continued to improve.In addition, the company’s resources for hazardous waste treatment capacity account for a relatively high amount of resources.Nonferrous metals such as copper, nickel and zinc are the main resource products.The price of bulk products has an important impact on the sales of resourced products. The domestic waste incineration power generation project is gradually entering the operating period, and it is expected to actively contribute to operating income.The company’s domestic waste incineration power generation business started relatively late compared to industry-leading companies. It currently has 11 projects with a total designed processing capacity of 8,800 tons / day.The company has undertaken the operation of domestic waste incineration power generation projects including Sihong project, Hezhou project, Shunyi project, and projects under construction include Hetian project, Puyang project, Yueyang project, Tianjin project, meanwhile, Xinyi, Linyi, Jingmen, and Neijiang are in the early stage.The approval process is in progress.In 19 and 20, the company’s domestic waste incineration power generation project entered the operational phase, moving towards a stable performance change brought by the company’s engineering business, and continuously improving the company’s operating activities cash flow. Contradictory funding needs, debt structure adjustments and diverse financing have helped projects to land.The company’s hazardous waste treatment and domestic waste incineration power generation projects are heavy asset investment projects.The domestic waste incineration power generation and hazardous waste treatment projects planned and constructed by the company broke down, and the subsequent funding requirements were relatively bearable.The company currently raises funds by issuing convertible corporate bonds, issuing green corporate bonds, and obtaining project loans.It can be seen that the company is actively adjusting its debt structure, increasing the proportion of long-term loans to invest in projects, and improving its ability to resist risks. Reinforcement of repayments has significantly improved cash flow from operating activities.The company’s awareness of the risk prevention of accounts receivables, and the strong introduction of incentive policies for receivables brought about a marked improvement in cash flow from operating activities.Cash received from companies selling goods and providing services in 18 years34.6.5 billion, accounting for 92% of revenue.11%; net cash flow from operating activities.2.2 billion, the ratio to the net profit of return to mother close to 1.In the first quarter of 19, the company’s operating cash flow continued to 南京桑拿论坛 show a positive trend.We believe that the company’s initiative to control the quality of the project and strengthen the payment will help reduce operating risks and play a positive role in improving the quality of corporate profits. Shares in Yuhetian and Futai Technology are expected to actively contribute to investment income.In terms of foreign investment, the company indirectly holds Yuhetian19.27% of the shares and directly hold Futai Technology11.79% of the shares are accounted for using the equity method.As a large domestic sanitation service company, Yuhetian has rapidly expanded its business scale and income volume in the past three years.18 years Yuhetian operating income 28.160,000 yuan, net profit 2.30,000 yuan.The main business of Futai Technology has expanded from the field of sanitation service informatization 北京男士spa会所 to the field of government environmental IT solutions, corporate environmental governance big data and waste classification operation solutions.In 18 years, Futai Technology’s net profit reached 75.33 million yuan.At present, Yuhetian IPO is in the pre-announced update stage, and Futai Technology officially launched the IPO application process in 18 years. Maintain the company’s “overweight” investment rating.As a leading enterprise in the field of domestic soil remediation, the company has obvious competitiveness in terms of technology reserves, engineering project experience, and order acquisition.With the rapid development of the soil remediation market and the improvement of the company’s ability to operate hazardous waste and domestic waste treatment projects, the company has gradually entered a stage of continuous growth.For the time being, regardless of the replacement effect of the company’s convertible bonds into equity, it is expected that the company’s fully diluted EPS in 19 and 20 will be 0.66, 0.91 yuan, according to 10 on July 30.Calculated at the closing price of 23 yuan / share, the corresponding PE is 15 respectively.4 and 11.2 times.We believe that compared with the company’s growth expectations, the current level of the company’s estimates is low, and the company’s cash flow has improved significantly, and the quality of earnings has improved, giving the company an “overweight” investment rating. Risk reminder: market competition in the field of soil remediation is intensifying, and competition is becoming fierce; domestic waste incineration power generation projects have an “avoidance” effect, and the project landing is less than expected; the prices of non-ferrous commodities are fluctuating, and the risks of resource product price fluctuations are competing; funding demandThe rapid growth of interest-bearing debt and the risk of capital shortage.

Rainbow Group (002419) 2018 Annual Report Review: Rapid Store Expansion, Comparable Store Profit Increases 17%

Rainbow Group (002419) 2018 Annual Report 武汉夜网论坛 Review: Rapid Store Expansion, Comparable Store Profit Increases 17%

The company released its 2018 annual report: operating income of 191.

4 ‰, +3 for ten years.

25%; Realize attributable net profit 9.

40,000 yuan, +25 for ten years.

92%.

Maintaining rapid development, store reserves are abundant.

In 2018, the company focused on expanding Central and Southeast China, and opened 16 new stores in Hunan, Fujian, Jiangxi, and Guangdong. Among them, 4 are directly operated by shopping malls, 1 is managed, and 1 is joined.The most), one department store directly operated, joined one, six independent supermarkets directly operated, joined two.

As of the end of 2018, the company operated a total of 13 shopping malls, 68 department stores, 81 supermarkets, 159 convenience stores, and a business area of over 3 million square meters.

In 2018, the company signed 17 shopping mall and department store projects, 13 independent supermarket projects, and has abundant store reserves.

Gross profit increases by 9 per year.

twenty four%.

With the increase in the proportion of shopping malls and the adjustment of the department store format, the proportion of experience-oriented formats such as catering and entertainment with high gross profit margins increased, and the company’s gross profit margin increased by 9%.

24%, higher than the growth rate of 3%.

25%.

The upgrading of store formats has significantly improved the gross profitability and profit maximization of comparable stores.

In 2018, the company’s department store stores implemented block adjustments, positioned community living centers, and enhanced the living service capabilities of the stores. The adjustment effect was significant: in 2018, the company’s department store business format gross profit and profit maximization increased respectively.

0%, 20.

2%; Shenzhen Xinsha, Suzhou Xiangcheng and other shopping malls realized loss-making, comparable stores gross profit and profit growth respectively increased.

2%, 64.

4%.

Promote digitalization to improve business efficiency and continue to build a high-quality supply chain.

As of the end of 2018, the number of digital members of Texhong reached 16.44 million, and Thonghong ‘s GMV gradually increased by more than 32% to 17.
.

At 9.6 billion, Tianhong’s home sales increased by 118% each 杭州桑拿网 year; the supermarket self-pay sales accounted for 35%.

In terms of supply chain, in 2018, the company’s international direct-produced products revenue increased by 61%, and private label sales increased by 102%; 2R (ready-to-eat) commodity sales increased by 39%.

Investment ratings and estimates The company has abundant project reserves and strong store development capabilities. The recent employee stock ownership plan demonstrates the company’s long-term development confidence.

2019?
In 2021, we expect the company to achieve revenue of 211.228 / 24.7 billion and a net profit of 10%.

6/11.

8/13.

3 ppm, PE assessment 14/13/11 times, maintaining “recommended” grade.

Risks prompt continued sluggish consumer demand, new store opening results less than expected

Wuliangye (000858) 2019 Third Quarterly Report Review: Beautiful Results Continue to Harvest Reform Dividends as Scheduled

Wuliangye (000858) 2019 Third Quarterly Report Review: Beautiful Results Continue to Harvest Reform Dividends as Scheduled

In the first three quarters of 2019, the company’s revenue / net profit increased by 27% / 32%, respectively, and continued to increase. The performance was beautiful.

Maintain “Buy” rating.

In Q3 2019, revenue / net profit increased by 27% / 35%, and the performance continued to be excellent, in line with market expectations.

In the first three quarters of 2019, the company achieved operating income of 37.1 billion yuan, an increase of 27%, and net profit of 12.5 billion yuan, an increase of 32%.

Among them, the third quarter of 2019 achieved revenue of US $ 10 billion, an increase of 27%, and a net profit of 3.2 billion, an increase of 35%, which continued the beautiful performance of the interim report, which was in line with market expectations.

As of the end of the third quarter of 2019, advance receipts were 5.9 billion, an increase of 3.4 billion, and a 1.5 billion increase; the gross profit margin in the first three quarters of 2019 was 73.

8%, the same increase of 0.

3Pct; selling expense ratio 10.

9%, the same increase of 0.

4Pct, caused by the gradual expansion of expenses in the marketing system; management expense ratio 5.

0%, same minus 0.

9 points; net margin 33.

8%, the same increase of 1.

4Pcts, the overall profitability rose steadily.

In addition, Q3 taxes and surcharges decreased by 4.

1Pcts, the impact of the repayment of consumption tax in the same period last year.

The pace of the P5 replacement is stable and healthy, and the price is stable and successfully extended the test of the peak season.

Quantity: The third quarter of 2019 is the first complete quarter of the listing of the eighth-generation classic Wuliangye. The company has completed the shipment target of 5000 tons of Wuliangye as scheduled. The first three quarters will gradually deliver about 2 tons, which is close to the same period last year.

Price: According to a grassroots survey, the price of the eighth generation of the fifth batch from June to August was 970-980 yuan. In September, the company appropriately moderated the demand during the peak season, and the approval price fell somewhat and remained firm.

In the Mid-Autumn Festival / National Day peak season, Wuliangye’s brand sales are good, and the problem of consignment has significantly improved, and its confidence in relying on dealers has been restored; the digital transformation to replace marketing has been significantly transformed, the terminal has been strictly controlled, and the grade has improved.

This time, the profit of the fifth-generation channel has improved significantly, and the price has gradually been realized, which is expected to greatly enhance the brand power and strengthen the dealer relationship.

It is expected that both the volume and price will continue to rise at the statement end, and the reform dividend will continue to be harvested.

Looking forward to 2020, we expect a sales increase of 10% +. Incremental companies will mainly invest in blind markets, group purchase resources and KA channels, etc., and will tilt on traditional distributors that are no 深圳桑拿网 longer incremental but have good operating quality.

We expect the company to maintain a stable ex-factory price in 2020, while shifting the market approval and retail prices upwards through brand marketing, channel management, etc .; considering that the sales volume of Y8 generation Puwu in 2019 will account for about 35%, it will be all 8 generationsFifth, it is expected that the ton price of the statement will bring a rise in the medium and high single digits.

Series wine integration was basically completed. At the “2019 Liquor Association Liquor National Jury Annual Meeting of China”, the company won 35-degree / 50-degree Wuliangchun from 197 samples and won the price of 201-250 / 251-300 yuan.The interval blind evaluation caused the first. In the future, the company will build a series of wine explosion products based on quality, channels and marketing.

Risk factors: The high-end wine boom is worse than expected, industry competition is intensifying, and reforms are pushing ahead of expectations.

Investment suggestion: Comprehensive reform stimulates the company’s growth potential.

Maintain EPS forecast for 2019-2021 to 4.

49/5.

55/6.

49 yuan, maintain “Buy” rating.

Hongyuan Electric (833186)-Military and Weapon Group’s Internal Market Expansion Smoothly and Performance Stable Growth

Hongyuan Electric (833186)-Military and Weapon Group’s Internal Market Expansion Smoothly and Performance Stable Growth

Event: On February 19th, the company released the 2018 results flash report and achieved revenue4.

28 ppm, an increase of 29 in ten years.

39%; total realized profits 5324.

830,000 yuan, an increase of 19 in ten years.

37%; net profit attributable to mother is 4604.

750,000 yuan, an increase of 19 in ten years.

twenty two%.

(Company announcement) Focusing on the single-chip electronic control system and mechatronics, the market development achieved a new breakthrough: the company is the only mechatronics subsidiary of Inner Mongolia First Machinery Manufacturing Group Corporation of China Ordnance Industry (Group) Company, which specializes in research and development,Manufacturing and marketing of military and civilian electronics, electrical appliances, motors and wiring harnesses and other mechatronic products and control systems.

Relying on the steady development of China Weapons Industry Group Corporation, in 2018, the company achieved new breakthroughs in market development by strengthening the internal market development of the military and weapon groups and actively participating in the arms procurement of the entire army, and achieved revenue of 11.89 million yuan in the fourth quarter alone., Expected sales revenue and profits achieved double growth.

For high-quality military customers, the customer resources are stable: Most of the company’s revenue comes from military products. The main customers are military, military enterprises, scientific research institutes and large machinery manufacturing enterprises with high reputation.

The 深圳丝袜会所 company’s main military products are sold to Inner Mongolia First Machinery Group Corporation Subsidiary Co., Ltd., which is a large-scale military industrial enterprise with a large and stable procurement demand and stable supply system. It can continue to bring high-quality orders to Hongyuan Electric and ensure stable performance.increase.

The company’s civilian products mainly include hydraulic cylinder oil pumps and vehicle wiring harnesses for heavy trucks, and its main customers include Beiben Group.

The military product industry has high qualification barriers, complete company qualifications, replacement of research and development capabilities, and grasps changes in the military industry market. Through years of efforts, the company has formed a number of scientific and complete research and development, production, quality management, marketing systems, and a 四川耍耍网 group of companiesResearch institutes, Beijing Institute of Technology, and Ocean University of China have carried out extensive cooperation. Through new product development, pre-research, and production transformation, they have continuously improved their competitiveness, continuously opened up new markets, and injected new vitality into their development.

The company possesses four necessary qualifications for R & D, production, and supporting military products, such as the research and production license for weapons and equipment, the qualification registration certificate for equipment manufacturing units, the second-class confidential qualification unit certificate, and the weapon equipment quality system certification; it also owns TS16949 automotive products.Qualifications for quality management system certifications and national emerging companies.

Based on long-term national key investments, the military industry economy has continued to pick up in recent years, achieving rapid growth.

The informatization and digital construction of ground equipment has also accelerated the pace. The development of new equipment, mass production and other tasks have brought breakthrough development potential to equipment manufacturing enterprises.

(Company semi-annual report) New military orders will have a positive impact on future business performance and market development: relying on the sound development of China Weapon Industry Group Co., Ltd.’s overall business, the company has achieved good business performance, sales revenue andProfits have achieved double growth, and business development has maintained a good momentum of continuous growth.

On October 8, 2018, a product order contract with a military product customer was recently extended, with a contract value of 3798.

470,000 yuan, contract delivery date before November 30, 2019.

The above contract is expected to have a positive impact on the company’s future operating performance. The signing of the contract indicates that the company’s products and services are recognized by the military and will have a positive impact on the company’s weapons and equipment market with great potential for development.

(Company Announcement) Investment Proposal: Terminate the latest closing, the company will proceed 7.

80 yuan, the market value is 5.

26 ppm, PE is 11X, it is recommended to pay attention.

Risk Warning: Risk of policy change, business growth is less than expected, market competition risk