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TOWER RECORDS Feng Qi Gui Dao Cheng Nick arrowhead still water fall Ni TOWER Tuan Ho Tong Qian Long 钂 How to 钂?
姣忓勾鐨勪節鍗佹湀浠芥槸鍚冭瀮锜圭殑瀛ｈ妭锛岃€屼笖杩欎釜瀛ｈ妭鐨勮瀮锜归€氬父鏄緢鑲ョ編鐨勶紝寰The legal statutes are inconsistent, and they are inconspicuous. They are in any ring chain, and they are forbidden.It ‘s very difficult to find out what ‘s going on. It ‘s hard to tell if it ‘s broken. It ‘s hard to tell what ‘s going on.锛屾竻钂ユ渶澶х▼搴︾殑淇濇寔铻冭煿鐨勬柊椴滅▼搴︼紝濡傛灉钂歌瀮锜归€氬父鏄渶瑕佸闀挎椂闂村憿?What is the best way to do it?涓夊崄鍒嗛挓宸﹀彸銆備竴鑸€岃█锛屾甯镐釜澶寸殑铻冭煿鍙渶瑕佽捀涓夊崄鍒嗛挓宸﹀彸锛屽嵆灏嗘按鐑у紑鍗犵敤鍗佸垎閽燂紝姘寸儳寮€涔嬪悗杩橀渶瑕佽捀鍗佷簲鍒嗛挓鑷充簩鍗佸垎閽熷乏鍙炽€備絾涔熸湁渚嬪锛屽鏋滆瀮锜圭殑涓ご寰堝ぇ鐨勮瘽锛屽垯闇€瑕佽捀涔呬竴鐐癸紝浣嗗缓璁敖閲忔帶鍒跺湪涓€灏忔椂鍐咃紝浠ュ厤钂哥殑鏃堕棿杩囦箙鑰岀粰鍙ｆ劅甯︽潵褰卞搷銆傝瀮锜逛笉娲楃洿鎺ヨ捀鍙互涔堝缓璁竻娲楀悗鍐嶈捀銆傝瀮锜规槸鐢熼暱鍦ㄦ按涓殑锛屽叾浣撳唴浼氭湁寰堝娌欏瓙锛屼笖鍏惰韩浣撹〃闈細娌句笂娉ュ湡锛屽鏋滀笉娓呮礂骞插噣鍐嶈捀鐨勮瘽锛岃捀瀹屼箣鍚庨鐢ㄥ鏄撳悆鍒版矙瀛愶紝涓嶅お鍗敓锛屽奖鍝嶉鐢ㄧ殑浣撻獙銆傛墍浠ュ缓璁皢铻冭煿娓呮礂涔嬪悗鍐嶈捀銆傝瀮锜规€庝箞钂稿ソ鍚冨張绠€鍗?銆佸皢铻冭煿娲楀噣锛屾斁鍦ㄧ櫧閰掍腑娴告场涓€灏忎細銆?銆佺粰铻冭煿鏉剧粦锛岃儗闈㈡湞涓嬫斁鍦ㄨ捀鐩樹腑锛屽湪铻冭煿涓婃拻涓婇€傞噺鐨勯鐩愩€佺敓濮滄湯銆佸 欰 傗 傜 毊 銆 Dao 姳 女 掔 瓆 銆?I am afraid that I will be afraid of you, and I am afraid that you will not be able to do anything. If you are in trouble, you will not be able to read it. What are you going to do?銆佷簩涓夊崄鍒嗛挓鍚庯紝鎵撳紑閿呯洊锛屽湪铻冭煿韬笂娣嬩笂閫傞噺鐨勯檲閱嬨€侀叡娌广€佸姹併€佽挏姹佺瓑锛岀剸涓€鍒嗛挓鍚庡叧鐏紝鍗冲彲銆傛按鐓瀮锜规€庝箞鐓?銆佸皢娓呮礂骞插噣鐨勮瀮锜规斁鍏ュ姞浜嗘竻姘寸殑閿呬腑锛岄攨涓殑姘村簲璇ユ病杩囪瀮锜瑰ご椤躲€?銆佸湪娓呮按涓€掑叆閫傞噺鐨勯粍閰掋€佺敓濮滅瓑锛岀洊涓婇攨鐩栵紝鎵撳紑澶х伀鐓紑銆?銆 丸 璟 咬 咬 駄 勮 倮 瀜 銜 擜 擜 珜 閉 瓉 尉 綉 虹 圹 幭 繭 璖 庯 纴 灏 嗙 區 鍾 咸 尸 對 尾 尸 尨 尠 尸 尨 尠 尸 尡 尸 尡 尸 尨 尸 尸 尠 尸 尸 尸 尸 尨 咸銆佸崄鍒嗛挓鍚庯紝鍦ㄩ攨涓姞鍏ラ€傞噺鐨勯鐩愩€侀檲閱嬨€侀叡娌圭瓑锛屼竴鍒嗛挓鍚庡嚭閿咃紝鍗冲彲椋熺敤銆傝捀铻冭煿瑕佹敞鎰忎粈涔?This is the best way to get back to the nickname and argon awards, and the awards will be given to you. If you want to know how to do it, why do n’t you?銆佽捀铻冭煿涔嬪墠搴旇妫€鏌ヨ瀮锜规槸姝绘槸娲伙紝閬垮厤钂告铻冭煿锛屾铻冭煿鏈夋瘨锛屼笉鍙鐢ㄣ€?銆佽捀铻冭煿鍓嶅皢铻冭煿鏀惧叆鐧介厭涓蹈娉＄墖鍒绘垨鑰呯敤閽堟墡涓€涓嬭倸瀛愬彲浠ヤ娇铻冭煿闄峰叆鏄忓帴锛岄伩鍏嶅湪鍔犵儹鐨勮繃绋嬩腑鎸ｆ墡瀵艰嚧锜硅吙鑴辫惤锛屾垨鑰呰煿榛勮煿鑶忔祦澶便€?
[Benefits of drinking dried lemon soda]_ lemon dried soda _ efficacy _ effect
Usually, you can use dried lemonade to buy dried lemon. It also has a good effect on the body, especially it has a certain detoxification effect. It can promote gastrointestinal digestion, so that some toxins in the stomach can be metabolized, and it can also clear bloodThe role of toxins in it has a good effect of beauty and beauty, has a certain effect of removing stains, and can also achieve a certain effect in enhancing immunity.
Benefits of drinking lemonade1. Detox beauty lemonade can detoxify beauty.
Water can help our body detoxify, and the vitamin C contained in lemon can strengthen the removal of toxins in the blood, maintain skin gloss, and reduce wrinkles.
2. Balanced pH. Although lemonade tastes very sour and sour, it is actually alkaline and keeps the body in an alkaline state. It can prevent diseases and prevent pathogens from living. This is an important benefit of drinking lemonade.
3, to enhance immunity potassium in lemon helps control blood pressure and stimulate the nervous system of the brain; vitamin C also helps fight colds.
If you are sick, remember to soak a glass of lemonade and some honey!
4. Promote digestion Drinking lemonade can promote stomach digestion. When your digestive function is not very good, you can drink some lemonade to promote the secretion of gastric acid and make food easier to digest and absorb.
5. Another benefit of helping to sober up and drink lemonade is that after you have been drinking for a night, sometimes your stomach is allergic, it can help soothe your stomach.
Hot water with lemon can be used as a preservative to help the system eliminate toxins.
6, stimulate the nervous system of the brain to stimulate the body’s low potassium content, you will feel depression, worry, forgetfulness, and even unresponsive head.
The trace elements potassium and vitamin C in lemons all decompress us.
7, help breathing If you experience breathing problems, such as high blood pressure or infection, lemonade is your ideal drink!
It has antibacterial properties that help reduce retinal infections and relieve cough.
It may be that no matter how good the food is, it must not be unbridled when introduced.
Lemons are no exception. Many women drink lemonade every day for the sake of beauty and hurt their stomachs.
Therefore, drink lemonade in moderation, not more than 1000 ml per day.
Gree Electric (000651) 2019 First Quarterly Report Review： First Quarter Results Continue to Grow and Profitability Is Rich and Stable
Gree Electric (000651) 2019 First Quarterly Report Review: First Quarter Results Continue to Grow and Profitability Is Rich and Stable
First, the event overview On April 29, the company released the 2019 first quarter report.
At the core of the report, the company achieved operating income of 405.
48 ppm, a ten-year increase2.
49%; net profit attributable to mother 56.
72 ppm, an increase of ten years.
62%; net profit deducted from non-return to mother 51.
14 ppm, an increase of 22 in ten years.
Second, the analysis and judgment of the first quarter results achieved steady growth statement growth, the company’s revenue, net profit attributable to mothers respectively increased.
6%, the performance achieved steady growth; deducting non-growth rate 22.
2% is significantly faster than the growth rate of net profit attributable to mothers, mainly due to the current investment income.
In terms of sales volume, according to industry online data, Gree air-conditioning sales increased by 0 in the first quarter.
17%, of which domestic sales increased by 3.
42%, exporting crude oil 5.
The profitability overall scale stability report increases the company’s sales expense ratio and decreases by 0 every year.
70pct to 10.
17%, management expense ratio, R & D expense ratio rose by 0.
18 pieces, 0 pieces
24pct to 2.
01%, financial expense ratio rose by 0.
22pct to -0.
06%, during the period, the overall expense ratio fell slightly to 0.
05pct to 15.
In terms of profitability, the company’s gross profit margin fell by 0.
27 minutes to 30.
59%, benefiting from the increase in investment income and other income, the net interest rate fell slightly.
12 points to 14.
The company’s asset quality still exceeds the best Q1 company’s operating net cash flow by 46% per year to 77.
33 trillion, which is expected to be related to the increase in inventory (more than an increase of 61 trillion to 212 trillion); in terms of the balance sheet, the advance receipts 102 at the end of the first quarter.
35 trillion, a decrease of 17% compared to the same period, indicating that terminal demand is still under pressure; but other flow resistance (mainly sales rebates) has increased23.
6.5 billion to 642.
The company’s book cash + other current assets + bills receivables amounted to $ 169 billion, an increase of $ 29.1 billion year by year, and the asset quality is still very good.
Third, investment proposals are expected to achieve basic returns in 20四川耍耍网19-2021.
99 yuan, corresponding PE is 12X, 10X, 9X, the company as the industry’s first-line enterprises can estimate the premium.
The company’s brands, channels, and product moats and improvements in governance structure are also expected to improve the company’s operating efficiency and maintain a “recommended” rating.
Fourth, the risk prompts sharp fluctuations in raw material prices, terminal demand is less than expected, and industry competition is intensifying
Yinlun Shares (002126) Annual Report Comments： New energy business with performance in line with expectations will become a bright spot for growth
Yinlun Shares (002126) Annual Report Comments: New energy business with performance in line with expectations will become a bright spot for growth
Event: The company achieved revenue of 50 in 2018.2 ten percent, an increase of 16 per year.1%; attributable net profit 3.500 million US dollars, an annual increase of 12.3%. In the past 18 years, the company’s performance in the construction machinery segment maintained high growth, the sales of heavy truck segment maintained steady growth, and the performance of passenger car business transformed the industry.In 南京桑拿网 terms of quarters, the total revenue of the 18Q4 company decreased by 2 year-on-year.3%, attributable net profit declines by 7 per year.6%, against the background of the severe deterioration of the industry, the company’s performance growth is still solid, in line with expectations.18-year company gross profit margin 25.5%, a decline of 0 per year.6 digits; net interest rate 7.9%, unchanged from the previous year.The company’s estimated operating income in 2019 is $ 5.5 billion to $ 6 billion, and it is estimated that the net profit attributable to listed shareholders will be 3.85-4.2 billion yuan, a median growth rate of about 15%. New energy thermal management has become a bright spot, and it is expected to maintain rapid growth. The company already has the research and development and production capacity of new energy thermal management products. The main customers in the field of new energy vehicles are Ford, Ningde Times, Geely, GAC, BYD, etc.In 2018, the company successively obtained fixed-point suppliers of battery coolers and cooling plate products for Geely’s PMA platform, and fixed-point suppliers of battery cooling plate products for Changan Ford.Against the background of the rapid growth of new energy vehicle sales, the company’s new energy thermal management business is expected to maintain high growth in the next few years. The global layout has yielded fruitful results. The share of cities at home and abroad has continued to increase. The company’s global layout has continued to increase, and the share of cities at home and abroad has continued to increase.Beginning in 19, the company’s business in Europe is expected to enter a rapid growth period. Orders from quality customers such as Renault, Volvo, and Manhu are increasing. Domestic independent car companies (Geely, GAC, etc.) and joint venture passenger car companies (SAIC Volkswagen, GM)Etc.) The business volume is expected to maintain steady growth in the next few years.The M & A auto industry has recovered, and the company’s performance growth has accelerated since 20 years.The company is a high-quality component company with continuous growth capabilities in the next 3-5 years, with medium and long-term configuration value.It is estimated that the company’s net profit for the years 19-21 will be 4 respectively.0 billion, 5.0 billion and 6.500 million, PE is 18, 14, and 11 times.Maintain the “Recommended” level. Risks suggest that passenger car sales are lower than expected, and commercial vehicle sales have fallen sharply.
Zhongnan Construction (000961) January 2020 Sales Review： Sales decline due to Spring Festival factors
Zhongnan Construction (000961) January 2020 Sales Review: Sales decline due to Spring Festival factors
The incident described the company’s contracted sales amount of 59 in January 2020.
500 million, a year-on-year decrease of 32%, and the sales area is about 45.
70,000 square meters, a reduction of 35% a year.
The event comment was affected by the Spring Festival holiday, and the number of sales increased.
The company achieved contract sales of 59 in January 武汉夜生活网 2020.
500 million, a year-on-year decrease of 32%, and the sales area is about 45.
70,000 square meters, a reduction of 35% a year.
The scale of sales was mainly affected by the Spring Festival holiday in January, and the epidemic situation had little or no impact on January sales.
The deduction of the upper limit of the scale of land acquisition will increase the proportion of land acquisition equity.
In January, the company won 3 projects in Xuzhou and Qingdao, with a total planned construction area of 48.
06 million countries, a decline of 12 every year.
5%, land price 15.
26 ppm, a decrease of 29 per year.
8%, take the floor price of 3175 yuan / flat, down 19 a year.
8%, but the proportion of land acquisition equity has increased significantly. In January, the proportion of land acquisition equity was 92%, increasing by 10 per year.
In terms of land acquisition intensity, the company’s land acquisition / sale area in January was 105%, an annual increase of 27.
4 points, the total land price / total sales price is 25.
6%, a slight increase of 0 in ten years.
7pct, the floor price / average sales price is 24.
4%, a decline of 7 per year.
The performance in 2019 increased rapidly as expected, and the long-term impact of the epidemic on sales is expected to be controllable.
The company expects to realize net profit attributable to shareholders of listed companies in 201939.
50,000 yuan, an increase of 80% -110% in ten years.
The exercise condition of the company’s equity incentive is that the performance in 2019-2021 is not less than 39.
880,000 yuan, the performance in 2019 is likely to be worry-free.
The company’s sales amount in 2019 is about 1960.
500 million US dollars, an annual increase of 34%, to achieve the annual sales target of 180 billion US dollars, the sales area of 1,540.
70,000 square meters, an increase of 35% in ten years, the average sales price of 10,725 yuan / square meter in ten years, a slight decrease of 0 several times.
Although the epidemic has a certain degree of interference in short-term sales, the demand only continues but does not completely disappear. In the long term, the impact of the epidemic on the company’s sales is controllable.
Investment suggestion: The company insists on high turnover, and its performance is high.
The company’s performance has increased rapidly and its cash rate has been high. It will grow by more than 80% year-on-year in 2019, and its flexibility can be expected. The advance account is sufficient, which continues to the advance account 1278 in the third quarter of 2019.
US $ 800 million, effectively guaranteeing later revenue and performance growth; Net debt ratio has dropped, debt structure has continued to improve, and expense ratios have been properly controlled; adherence to the high turnover model, sales and performance growth have remained high and gradually 武汉夜生活网 realized.We forecast the company’s performance for 2019-2021 to be 40.
1.4 billion, the growth rate is 85%, 73%, 41%, corresponding to the current expected PE is 8 respectively.
41x, maintain “Buy” rating.
Risk Warning: 1.
Uncertainty in the liquidity environment; 2.
The impact of the epidemic is uncertain.
EU special summit held in Brussels without consensus on long-term budget
Xinhua News Agency, Brussels, February 21st. The EU special summit was held in Brussels from 20 to 21st, mainly to discuss the long-term budget from 2021 to 2027, and the parties failed to reach a consensus.
This is the first EU summit to be held after Brexit.
Summit convener 都市夜网 European Council President Michel said that negotiations around the budget have always been difficult, especially since Brexit has left a huge funding gap. Unfortunately, we cannot reach an agreement today. We need more time.Efforts must be made to bridge differences and coordinate interests.
German Chancellor Angela Merkel said that the parties were too divided to reach an agreement and could only continue discussions later.
European Commission President Von Delane said that time is tight. If there is no consensus this year, there may be no budget in the next 7 years and no funds to support the Erasmus Plan, scientific research activities, regional development and border control.
Brexit leaves the European Union with a funding gap of about 10 billion euros per year.
Against this background, net-investing nations want to reduce spending, while lagging nations want net-investing nations to assume more obligations to fill the gap left by Britain.
At the same time, the European Union has formulated ambitious plans for challenges such as the immigration crisis, climate change, and digital transformation. It needs to invest a lot of money, and leaders at the meeting have serious differences on how to ensure the source of funds.
(Reporter Li Zhizhi) Original title: EU summit does not reach consensus on long-term budget
Zhejiang Meida (002677)： Revenue and net profit growth in Q1 continued to increase month-on-month and continued to increase sales expenses
Zhejiang Meida (002677): Revenue and net profit growth in Q1 continued to increase month-on-month and continued to increase sales expenses
Investment points The growth of revenue and net profit in the first quarter accelerated quarter-on-quarter, in order to gradually lay a reasonable foundation for the company to achieve operating income in the first quarter of 20192.
900,000 yuan, an increase of 31 in ten years.
63%; net profit attributable to shareholders of listed companies was 0.
75 ppm, an increase of 22 in ten years.
09%, net profit after deduction is 0.
72 ppm, an increase of 21 in ten years.
26% in the first quarter achieved expected earnings of 0.
12 yuan, an annual increase of 33.
33%, average average return on equity is 5.
37%, an increase of 0 every year.
Although the overall improvement of the kitchen appliance industry in 19Q1 (the range of range hoods was -1.
5%, retail sales -2.
8%; retail sales of gas stoves -1.
0%, retail sales -2.
7%), but as a segmented industry in the kitchen appliance industry and integrated stoves of new categories, it still maintained a rapid growth of over 30%.
Through the rapid growth in recent years, the integrated stove has initially transitioned from the introduction period to the primary growth stage. The Zhejiang brand represented by the company leads the industry development.
The company’s first quarter revenue and net profit growth accelerated month-on-month, laying a solid foundation for 19 gradually.
In terms of actively increasing market expenses, the company’s integrated stoves achieved revenue in the first quarter based on the channel resource sharing products developed continuously.
62 ppm, an increase of 31 in ten years.
03%, other products 0.
27 ppm, an increase of 34 in ten years.
83%, the company’s main integrated stove product high growth is mainly driven by sales.
Against the background of increasing competition in the industry, the company continued to increase its market expansion, increase sales expenses and strengthen support for dealers. In the first quarter, the company’s sales expenses were zero.
450,000 yuan, an increase of 92 in ten years.
17%, the growth rate far exceeds the growth rate of 60.
54pct, sales expense investment 武汉夜生活网 remains high.
In terms of different channels, online, the company continued to increase e-commerce spending. In the first quarter, it is expected that e-commerce will double its growth and account for more than 10% of its revenue.
Offline, the company, while adopting the sales policy of first payment before the goods, allows some dealers with better reputation and development potential to substitute certain credit line support to reduce the pressure on dealers and increase dealers’ pickup and salesMotivation.
In addition, the company continues to increase the expansion of KA, building materials, and engineering channels this year. It is expected that channels such as building materials KA will gradually contribute to revenue mid-year.
The company will continue to expand its channel resources in 19 years, gradually improve its channel layout, and further enjoy channel dividends.
The decrease in gross profit and net profit margin, divided by the company’s supplementary cash-creation capacity, total gross profit and net profit in the first quarter of 2019 were 53.
84% and 26.
02%, which is reduced by 0 each year.
73 digits and 2.
The decrease in net profit margin was mainly due to the company’s continued increase in sales expenses (including channel expenses, marketing expenses, advertising expenses, etc.) to expand sales scale and maintain a high city share (1st quarter sales expense ratio increased and increased 4).
88 up to 15.50%), but at the same time the company also strengthened control over the management expense ratio, the management expense ratio decreased by 3 in the first quarter.
05 averages to 8.
In terms of financial indicators, the company’s accounts receivable and bills are zero at the end of the first quarter of 2019.
410,000 yuan, an increase of 142 in ten years.
54%, mainly due to changes in the company’s sales channels and policies; inventory 0.
70 ppm, a decrease of 24 per year.
67%, active terminal sales; zero advance payment.
190,000 yuan, an increase of 99 in ten years.
2%, mainly due to the company’s increased brand marketing efforts and prepaid advertising expenses increased.
In the first quarter of 2019, the company achieved net operating cash flow of 0.
42 ppm, a 67-year increase.
54% predictable cash creation capability.
Earnings forecast and forecast In the field of kitchen appliances, the integrated cooking plate segment is transformed from the growth rate of traditional kitchen appliances.
The company firmly focuses on the strategic idea of “building integrated kitchens, healthy kitchens, and smart kitchen solutions with integrated stoves as the core”. The company has increased 1.1 millionConstruction is expected to begin trial production in the first half of 19, which will provide effective guarantee for the company’s rapid increase in sales.
We expect the company to achieve revenue from 2019-2021.
4 billion, 21.
300 million and 25.
3 billion, an annual increase of 24.
2% and 18.
8%, expected to achieve net profit in 2019-2021.
56 billion, 5.
5.1 billion and 6.
54 billion, an annual increase of 20.
7% and 18.
8%, corresponding to EPS0.
71 yuan, 0.
85 yuan, 1.
01 yuan, corresponding to the current expected estimate of 18.
8 times, 15.
6 times, 13.
1x, maintain “Buy” rating.
Risks suggest recession in the real estate market; increased competition in the industry; risk of rising raw material prices
Adisseo (600299) In-Depth Report： Global Animal Nutrition Leader Has Good Prospects for Methionine Development
Adisseo (600299) In-Depth Report: Global Animal Nutrition Leader Has Good Prospects for Methionine Development
Report Summary: Adisseo is a leader in the animal nutrition and health industry. It is one of the two largest producers of solid and liquid methionine in the world. At present, the company ranks second in the world in methionine production and ranks No.First, the future development prospects are good.
The methionine industry is at the bottom, and price increases are expected to be strong.
Methionine is one of the few large tonnage fine chemical products with a high degree of dependence on acetic acid. At present, the price is at the bottom of history. 深圳桑拿网 The profitability of companies in the industry is generally poor, and the price is highly elastic.Dependency is high, anti-dumping is expected to benefit domestic related production enterprises; the industry supply is oligopoly, leading companies have strong price control, increase production capacity in the future, and look for a new balance between supply and demand in the medium and long term.
The company’s liquid methionine business leads the world and its product range continues to grow.
Liquid methionine has a good development prospect and the market penetration rate is expected to continue to increase.
The company is the only one of the global methionine production oligarchs to deploy capacity in China and is expected to obtain more development dividends in the Chinese market.
The company’s existing methionine 北京夜网 production capacity is 49 emissions per year, of which liquid methionine production capacity is 37 emissions per year, and 18 tons / year production capacity can be put into production by mid-2012. The company is one of the manufacturers with the lowest cost of liquid methionine.The combination of new product launches is expected to further strengthen the company’s liquid methionine industry leadership.
Special products have grown rapidly, and the “dual-pillar” strategy has achieved initial results.
The company’s special product business helps the company’s business achieve its goals, and always maintains a high profitability, becoming an important source of company profits; the company’s acquisition of NuoDi effectively expands the company’s product portfolio and helps the company become a global leader in animal nutrition special products.
Company profit forecast and investment rating.
What do we expect the company 2019?
Net profit in 2021 will be 11.
9.3 billion, 14.
1.9 billion, 16.
92 ppm, EPS is 0.
44 yuan, 0.
53 yuan, 0.
Currently, the corresponding P / E is 24 times, 20 times, and 17 times.
Maintain the “Highly Recommended” rating.
Product prices have fallen; the industry has put too much capacity into production; the growth in industry demand has fallen.