[How to preserve fresh walnut kernels]_How to store_How to place

銆愰矞鏍告浠佹€庝箞淇濆瓨鏂规硶銆慱鎬庝箞瀛樻斁_濡備綍瀛樻斁
Reports, reports, reports, reports, comments, comments, questions, answers, questions, answers, questions, answers, questions, answers, questions, answers, questions, answers, questions, answers, questions, answers, questions, answers, questions, questions, answers, questions, answers, questions, answers, questions, questions, answers, questions, answers, questions, answers, questions, answers, questions, answers, questions, answers, questions, answers, questions, answers, questions, answers, questions, questions, answers, questions, questions, answers, questions, questions, answers, questions, answers, questions, questions, answers, questions, answers, questions, answers, questions, questions, answers, questions, questions, answers, questions, questions, answers, questions, questions, questions, questions, questions, questions, questions, questions, questions, questions!€傛柊椴滄牳妗冧粊鐨勪繚瀛樻柟寮忎竴鑸槸15澶╋紝鍥犱负鏃堕棿澶暱瀵逛簬鏍告浠佺殑鏂伴矞绋嬪害涔熸槸鏈夊奖鍝嶇殑銆傛牳妗冧腑鍚湁鐨勮惀鍏荤墿璐ㄦ湁铔嬬櫧璐ㄣ€佸绉嶇淮鐢熺礌銆佸绉嶇熆鐗╄川绛夌瓑锛屽浜轰綋鏄湁寰堝ソ鐨勮惀鍏昏ˉ缁欎綔鐢ㄣ€傛牳妗冧粊鐨勪繚瀛樻柟娉曢鍏堝敖閲忔斁鍦ㄩ€氶閫忔皵鐨勫湴鏂广€佷笉瑕佺敤瀵嗗皝琚嬭銆佹渶濂戒娇鐢ㄥ竷琚嬨€侀夯琚嬫垨鍏朵粬鐨勯€忛杈冨ソ鐨勮瀛愩€傚叾娆$敤閫忛杈冨ソ鐨勮瀛愯锛屾槸涓轰簡闃叉鏍告鐨勫共搴︿笉澶熸椂锛屽埄鐢ㄩ€忛杈冨 ソ 镄 勮  瀛 湭 揁 Patent 揃 熺 殑 揁 e 彂 銆 逛 鏛 鏀 鏛 駘 姰 溰 姰 宰 宰 宰 村 垎 圎 Add:屼粠鑰屾洿濂界殑淇濇寔鏍告鐨勫共搴︺€侀槻姝㈠叾鍥炴疆銆佸彂闇夈€傛渶鍚庡缓璁牳妗冭繕鏄笉瑕佸墺寮€姣旇緝濂斤紝甯﹀3淇濆瓨鐨勪箙鐐广€傚叧浜庢牳妗冪殑淇濊川鏈?Refreshing and replenishing the application of arbitrarily arbitrarily arbitrarily arbitrarily arranging the quotation of the two sides of the chain of the three-dimensional chain of the three-year-old, and the power of the book and the supplementary of the two-way chain of the two-year-old chain of the two-year-old.What are you talking about? What are you talking about?Trickle?What are you talking about?0 Juan 湀 銆?銆 丹 牳 夗 宮 珋?Sister-in-law?淇濇寔鏈熶负15澶┿€?Are you crazy?涓湀銆傚墺寮€鐨勬牳妗冧繚璐ㄦ湡鏍告浠佸簲鐢ㄦ湁鐩栫殑瀹瑰櫒瀵嗗皝鐨勮濂斤紝浜庨槾鍑夈€佸共鐕ュ瀛樻斁锛岃娉ㄦ剰闃叉疆銆傛湁鏉′欢鐨勮瘽鏀惧啺绠遍噷锛屼笉杩囨棤璁虹敤浠€涔堟牱鐨勬柟娉曪紝涓€鑸鍙兘澶熶繚瀛樺嚑澶╃殑銆傞矞鏍告濡備綍淇濆瓨鍛㈠彲浠ユ妸椴滄牳妗冨幓鎺夌豢鑹插澹冲悗淇濈暀鍓╀笅鐨勶紝绋嶅井椋庡共锛屽垎鎴愬皬浠芥斁鍒颁繚椴滆涓紝瀵嗗皝濂姐€傜劧鍚庢斁鍒板啺绠卞喎钘忓閲岋紝鎯冲悆鐨勬椂鍊欐嬁鍑轰竴灏忚闅忔椂椋熺敤銆傚鏋滄病鏈夊啺绠憋紝閭d箞灏辨妸椴滄牳妗冩斁鍒伴槾鍑夈€佸共鐕ョ殑閫氶澶勶紝浣嗚繖鏍风殑淇濆瓨鏃堕棿灏变笉鏄緢闀夸簡銆傛柊椴滄牳妗冭兘涓嶈兘鍐峰喕鏂伴矞鏍告鑳藉喎鍐伙紝浣嗕細褰卞搷鍙f劅锛屽彲浠ュ喎钘忋€傚鏋滄槸鐭湡瀛樻斁鍒欏彲鍦ㄤ繚椴滃锛屽鏋滆緝闀挎湡(涓€涓湀浠ヤ笂)瀛樻斁鍒欏簲鍦ㄥ喎鍐诲銆?

[Fruit storage bags are needed in the refrigerator]_How to save_Storage method

銆愭按鏋滄斁鍐扮闇€瑕佷繚椴滆銆慱濡備綍淇濆瓨_淇濆瓨鏂规硶
Chain Links: Scrolling through the Internet, and clicking on the Internet, and clicking on the Internet, and clicking on the Internet to view the changes.I ‘m going to make a lot of noises. I ‘m going to make a lot of noises. I ‘m going to be crazy. I ‘m not sure what to do. I ‘m not sure what to do.叏姝g‘鐨勶紝鍥犱负姘存灉鏀惧埌鍐扮閲岄潰涔嬪悗涔熸槸浼氭參鎱㈣厫鐑傜殑銆傛墍浠ュ皢姘存灉鏀捐繘鍐Dress up, read, play, play, play, play, play, play, play, play, play, play, go, go, go, go, go, go, go, go, go, go, go, go, go, go, go, go, go, go, go, go, go?~4鈩冿紝姝ゆ俯搴︽潯浠堕€傚悎娓╁甫姘存灉鍌ㄨ棌銆傚鎴戜滑甯稿悆鐨勮嫻鏋溿€佹ⅷ銆佹銆佽憽钀勭You will be able to see what you are doing. You will be able to see what is happening. You will be able to save it if you want to do it. Please click on the button to view it. Click here to view more information.告俯涓嫔偍钘忓嵆鍙纴鍦ㄤ绠娓╃幆澧冧腑鏄揿喕浼わ纴鍑虹幇榛幇瑙效拰鍙f劅鍙桦樊锛岀敋镊冲彉璐ㄣ€傛按鏋滄斁鍏ュ啺绠卞墠锛屽缓璁厛娲楀噣銆佹櫨骞层€傝繖鏍峰仛涓€鏂归潰鍙互淇濊瘉鍐扮鐨勬暣娲侊紝鍙︿竴鏂归潰鍙互闄ゅ幓姘存灉琛ㄩ潰鎼哄甫鐨勫ぇ閮ㄥ垎寰敓鐗╋紝浠庤€岄伩鍏嶄竴浜涜€愪綆娓╃殑寰敓鐗╁湪鍐扮涓户缁箒娈栥€傚皾璇曚娇鐢ㄤ繚椴滆寰堝浜哄皢姘存灉涓€鑲¤剳鍎垮叏鏀捐繘鍐扮锛屽ぇ澶氭槸鏃犲涔嬩妇锛屽洜涓哄疄鍦ㄦ兂涓嶅嚭杩樻湁浠€涔堟洿濂界殑鏂规硶銆傛浌涓讳换璇达紝涓嶅Θ灏濊瘯浣跨敤淇濋矞琚嬨€傝秴甯傞噷鐨勬按鏋滃緢澶氫細浣跨敤淇濋矞琚嬨€備絾The richness of the richness is the most important thing in the world. It’s a bit of a sorrow. It’s very difficult for you to get there. It’s an umbrella. It’s very effective. It’s very effective. It’s so effective.湪浠嬬粛淇濋矞琚嬩箣鍓嶏紝闇€瑕佸厛璇翠竴璇存按鏋滅殑鍛煎惛浣滅敤銆傛按鏋滈噰鎽樹笅鏉ュ悗锛岀户缁繘琛屽懠鍚镐綔鐢ㄣ€傚懠鍚镐綔鐢ㄤ細缁х画鍒嗚В銆佹秷鑰楁按鏋滆嚜韬殑鍏诲垎锛屼互浜х敓鑳介噺銆佺淮鎸佹椿鍔涳紝鍛煎惛浣滅敤瓒婂己锛屾秷鑰楀吇鍒嗚秺澶氾紝姘存灉鍙樿川灏辫秺蹇€傚洜姝わ紝瑕佹兂浣挎按鏋滀繚椴滐紝灏遍渶瑕佹姂鍒舵按鏋滅殑鍛煎惛浣滅敤銆備繚椴滆鍙互杈惧埌姝ょ洰鐨勩€傚竞鍦轰笂鍗栫殑涓Tweeting the tweezers and the tweezers, the tweezers and the tweezers are very easy to use.斻€佷簩姘у寲纰炽€佹哀姘旂殑姣斾緥锛屼繚鎸佽鍐呮皵浣撳钩琛★紝浣挎按鏋滀繚鎸佸湪涓€涓緝浣庣殑鍛煎惛寮哄害姘村钩銆傚綋鐒讹紝濡傛灉瀹堕噷娌℃湁淇濋矞琚嬶紝涔熷彲浠ョ敤鏅€氱殑椋熷扇琚嬩唬旋匡纴浣嗘槸浣跨敤鏂规硶鐣ユ湁涓嶅悓銆备互椴沧灒涓轰緥锛屽彲浠ュ皢椴沧灒娲楀噣钖庢斁鍏ュ共鍑€鐨勯鍝佽涓紝灏嗛鍝佽鎵庣揣鍙o紝鏀惧埌闃村噳骞茬嚗澶勩€傛瘡闅?~4澶╁皢琚嬪彛鎵撳紑涓€娆★紝灏嗗彉璐ㄧ殑鍓旈櫎鍚庡啀鎵庝笂锛屽弽澶嶈繘琛屻€傛晥鏋滃ソ鐨勮瘽鍙互淇濆瓨2~3涓湀銆傞矞鏋h〃闈㈣淇濇寔骞茬嚗銆佹棤姘淬€傚鏋滃珜鍙嶅鎵撳紑楹荤儲锛屼篃鍙互灏嗛鍝佽鎵庣揣鍙e悗锛屽湪琚嬪瓙涓婃墡鍑犱釜娲烇紝鏀惧湪闃村噳銆佸共鐕ュ淇濆瓨銆?

Sanqi Mutual Entertainment (002555): Gaming Drives Revenue Growth, Goodwill Impairment Affects Profit

Sanqi Mutual Entertainment (002555): Gaming Drives Revenue Growth, Goodwill Impairment Affects Profit

Event: On the evening of February 25th, the company announced the results of the 2018 annual report: 1) In 2018, it achieved revenue of 76.

US $ 3.3 billion, an annual increase of 23.

33%; realized net profit attributable to mother 10.

4.8 billion, a decrease of 35 per year.

35%; budget, the company uses non-GAAP net profit as a supplementary indicator of actual operating performance, and in 2018 realized non-GAAP net profit of 15.

3.6 billion, an annual increase of 9.

07% (net profit attributable to parents minus goodwill impairment, occasional equity investment disposal after-tax gains and equity incentive fees); 2) Revenue in the fourth quarter of 2018 was 20.

9.9 billion yuan, an annual increase of 21.

75%; net profit attributable to mother is -1.

700 million, compared with 4 in the same period last year.

09 billion.

Comments: 1. The performance of Xinyou is dazzling and the overall recovery of the industry is driving the company’s revenue growth23.

33%, net profit attributable to mother is in the forecast range (10?
11.

5 ppm), performance basically in line with expectations 1) Mobile games drive revenue growth, market share increased: 2018 revenue growth rate was 23.

33%, growth is mainly due to the average growth of game publishing and self-developed business.

In terms of agency games, the 3D MMORPG tomb parody game “Ghost Wonder City” launched in April 2018 achieved 100 million monthly sales, and the turn-based game “Awakening of the Fairy” launched in November 2017 also maintained good performance; self-developed gamesIn July, the newly launched ARPG game “Breaking the Dragon” and the recently launched “One Sword” have performed very well, with more than 3 billion in circulation.

In 2018, the company’s mobile game revenue increased by about 70% each year. In the first quarter of 2019, domestic mobile game revenue will continue to increase, and it is expected to increase by more 上海夜网论坛 than 37% from the previous quarter.

Compared with the 2018 youth mobile game industry15.

With an average growth rate of 4%, the company’s market share has increased significantly.

In addition, due to the increase in the proportion of self-developed game revenue, the company’s overall gross profit margin has increased; however, the non-GAAP net profit growth rate due to the increase in expense ratio was 9%.

07%.

2) Other factors affecting performance are the impairment of Goodwill’s goodwill and no significant share gain compared to 2017: In terms of goodwill impairment, due to the restrictions on version numbers and the growth rate of the gaming industry in 2018, the company’s subsidiariesThe main game of Shanghai Mojio was launched in the fourth quarter of 2018, and its operating results exceeded expectations, with goodwill accrued9.

US $ 600 million, after considering the compensation of shares and cash, it will affect the company’s net profit attributable to the parent.

About 8.1 billion, but this time the company has only 500,000 goodwill left, and the risk is completely released.

In terms of investment income, in 2017, the disposal of Aurora Networks and Yuanyuan Culture confirmed an after-tax investment income of US $ 200 million, and there were no major equity transactions this year. The investment income in the first three quarters was only 16.68 million yuan.

2. Stripping off the traditional auto parts business, improving profitability, and focusing on online games as the core of the reorganization of cultural and creative industry companies, the auto parts business has relatively weak profitability, and realized revenue in 20175.

60ppm, but the net profit is only 13.22 million yuan; revenue from January to July 20182.

6.5 billion yuan, net profit contribution is only 1.26 million yuan, lowering the overall profitability of listed companies.

The shareholders’ meeting in October 2018 approved the company’s proposed cash consideration8.

A proposal of a 19% shareholder-controlled Wuhu Ningzhong Auto Parts Technology Co., Ltd. to sell 100% equity in the auto parts business.

In addition, in February 2019, Wu Xushun, one of the controlling shareholders, exchanged 1% of the company’s stock for Yinhua MSCI China ETF. After completion, its shareholding ratio was 7.

89% dropped to 6.

89%, coupled with the resignation of former chairman Wu Weidong and the company’s former executives, auto business related personnel are fading out of the company’s operations.

In the future, the company will focus on the main business of online games, and its asset structure and profitability will be improved.

3. The domestic market for mobile game distribution maintains growth potential. The purchase volume + product model is gradually verified. The category expansion supports medium and long-term growth. The company applies the ability of fine purchases accumulated over the years during page games + intensive research and development and polishing products to the mobile game field.And has been verified in ARPG mobile games, H5 games.

At present, the company maintains its advantage in the mobile game distribution market. IResearch’s “Q1 2018 China Interactive Entertainment Quarterly Data Release Research Report” shows that the company ranked third in the mobile game market for Chinese listed game companies in Q1 2018, behind Tencent and NetEase.; At present, the company’s issuing strategy has been adjusted from the relatively specific “ARPG + SLG” to “multiple development”.

Since 2018, the company has made multi-dimensional attempts in game types and games, and successfully released the miracle H5 game “Angel Sword H5”, a turn-based mobile game “Awakening of the Fairy”, and an adventure MMO mobile game “Ghost Whisper”Lost City “, a casual legend game” Breaking the Dragon “, 4 products with monthly sales of over 100 million yuan.
The expansion of categories and conducive to large-scale, but also help to mitigate the risk of dependent projects.
4. Employee shareholding plan + repurchase, showing confidence in future development. In September 2018, the company completed the stock purchase of the employee shareholding plan with a lock-up period of 12 months in the form of the actual controllers Wu Weihong and Wu Weidong.The company’s total share capital1.

24% of outstanding shares, with an average transaction price of 9.

50 yuan / share; In January 2019, the company intends to focus on repurchasing the company’s shares, and the repurchase amount is 3
600 million yuan, the repurchase price does not exceed 15.

00 yuan / share, implementation period of 12 months, the combined operation reflects the optimistic about the future development of the company.

5. Profit forecast and estimation: We expect the company’s net profit attributable to mother to be 19 in 2019.

200 million yuan, corresponding to a market surplus of fifteen.

5 times, maintain recommendation.

Risk reminders: The performance of the new game is less than expected; the risk of changes in the operating environment of the game’s overseas market; and the industry’s regulatory policies are facing serious risks.

Industrial and Commercial Bank of China (601398): Revenue, PPOP growth rate remains high Deposit costs remain stable Debt advantage is prominent

Industrial and Commercial Bank of China (601398): Revenue, PPOP growth rate remains high Deposit costs remain stable Debt advantage is prominent

Event: ICBC announced its 18-year annual report, and its net profit in 2018 increased further4.

1%.

Operating income grows by 6 per year.

5%, net interest income increases by 9 per year.

7%, net fee income increases by 4 per year.

1%.

Total assets 27.

7 trillion yuan (+6.

2%, year-on-year), of which loan +8.

Year-on-year growth of 3%; deposit +9.

Increased 4% year-on-year.

Net interest margin 2.

30% (+ 8bps, year-on-year); NPL ratio 1.

52% (-1bps, QoQ); loan-to-loan ratio of 2.

68% (+ 29bps, year-on-year) and provision coverage rate of 175.

76% (+3.

31pct, QoQ); ROE 13.

79% (-0.

56pct), ROA 1.

11% (-0.

03pct, YoY); capital adequacy ratio 15.

39% (+ 25bps, year-on-year).

Initial proposed cash dividend 0.

2506 yuan, cash dividend ratio of 30.

5%.

Ping An’s point of view: The performance growth rate is increasing, and the spread of interest spread further improves the company’s 2018 performance growth rate. As a result, the revenue, pre-provision profit and net profit growth rates were 6 respectively.

51%, 8.

82%, 4.

06%, profit growth increased by 1 compared with 17 years.

26pct, quarterly trend, Q4 performance growth rate is slightly distorted.

The 18-year ROAA and ROAE were 1 respectively.

11%, 13.

79%, a slight decrease of 0 in each decade.

03 and 0.

56 points, the decrease is narrower than 17 years, and profitability has stabilized.

Performance split: 1) the positive contribution of scale growth slightly narrowed month-on-month, but maintained at a high level; 2) the contribution rate of interest rate changes increased from the same month-on-month, is the largest positive contribution factor of 18 years of performance, mainly the loan yield endBoth credit volume and price went up; 3) Provision provision is the largest negative contribution factor, ICBC extended the maintenance of provision provision level to improve the risk compensation ability; 4) Net fee contribution contribution turned positive compared to 17This is due to the slowing of the margin of regulatory intensity and the support of the high growth of bank card and clearing and settlement business; other non-interest income has been dragged down, mainly due to exchange loss gains and changes in fair value.

Analysis of operating conditions: 1) Consolidate the stock, expand the increment, and increase the customer base.

In the past 18 years, he has been devoted to the stock operation and incremental expansion, and achieved significant achievements in the expansion of personal and institutional customers.2) Fee income is returning to positive growth, and the growth rate of PPOP far exceeds the growth rate of profits.

With the initial net income remaining stable, the improvement of program fee income, and the reduction of foreign exchange, the ICBC’s PPOP increased by more than 8 in 18 years.

8%, net profit attributable to mothers increased by 4 in ten years.

06%, continuing the upward trend of 17 years.

3) Increase the allocation of government debt, and the tax exemption effect will reduce the effective tax rate.

ICBC has increased financial investment in the past 18 years and has grown in ten years.

9%, bonds are the main allocation direction, accounting for more than 90% of investment assets.

The allocation of new government bonds in 18 years exceeded 750 billion yuan, and the tax exemption effect drove down the effective tax rate2.

4pct.

4) In the fourth quarter, the scale was slightly reduced, and both the growth rate and the proportion of sediment reduction were increased.

Initial asset growth rate 6.

18%, narrower than 17 years.

9pct, mainly from Q1 ring-down list.

77%.

The 18-year loan budget increased by 8 compared with the beginning of the year.

3%, the net proportion further increased to 54.

3%, of which the proportion of personal loans increased to 36.

6%, with mortgage loans as the main investment direction.

Expansion of deposits9.

44%, the proportion on the debt side increased by 2 from the same quarter last month.

7pct, 2.

2pct to 84.

4%.

5) The asset-side volume and price both went up, and the debt-side deposit cost control continued to be in the same industry, so the interest margin widened 8BP.

Asset-side income increased by 14BP, offsetting the increase in debt-side cost rate (+ 8BP), and the spread of interest rates increased quarter by quarter. The volume and price of loans and investment assets rose, the loan yield increased significantly by 15BP, and the deposit ratio accounted for more than 80%.The interest rate only increased by 3BP, the cost control was better than that of the industry, and the active resistance cost rate was lowered.

6) Asset quality: The leading indicators continued to improve, and the strict non-performing rate of bad identification fell steadily.

NPL ratio at the end of the third quarter 1.

52%, a decrease of 3BP in the previous 17 years, the proportion of focus loans and overdue loans have both decreased, the coverage rate and the loan-to-loan ratio were included 175 respectively.

76%, 2.

68%, up 21 from the end of the previous year.

7pct, 0.

29 points.

Investment proposal 18 years ICBC’s customer base has been further consolidated and developed, and the number of customers has reached a new level.

The performance is steady, the revenue and PPOP have maintained a high growth rate, and the performance foundation is solid.

To be specific: 1) The asset scale has 杭州桑拿网 grown steadily, the loans have achieved both volume and price increases, and the absolute advantages and cost control of overlapping end-to-end, the overall interest margin has widened by 8BP, and the increase rate has been improved quarter by quarter; 2) The tax exemption for additional government bondsThe effect reduces the effective tax rate and increases the profit; 3) The fee income growth rate is converted to negative and positive; 4) The indicators of asset quality continue to improve marginally, the leading indicators have double-decreased, and the negative downturn rate has increased.

According to the results published in the company’s annual report, taking into account the interest rate liberalization and the wide-currency industry’s 19-year interest rate differential pressure, as well as increased provision for asset quality pressure, we lowered the company’s profit forecast and forecasted 19/20 net profit growth.Is 4.

3% / 3.

9% (was 7).

8% / 11%).

At present, the total corresponding 19/20 PB is 0.81x / 0.

73x, PE is 6.

5x / 6.

2x, combined with the company’s solid performance, strong customer base and leading comprehensive advantages, we maintain the company’s “highly recommended” rating.

Risks indicate that asset quality is affected by the economic beyond expected range, and credit risk is exposed centrally.

The banking industry is closely related to the national macroeconomic development. If the macroeconomic exceeds expectations, it will inevitably cause the overall asset quality pressure of the industry and affect the disposal and recovery of non-performing assets, thereby affecting the company’s profit growth rate.

The policy-making efforts exceeded expectations.

Under the background of deleveraging and risk prevention, the breadth and depth of industry supervision have been continuously strengthened, and similar policies and regulatory plans such as new asset management regulations have been introduced.The company’s operating stability caused adverse effects.

There is a systematic risk of market decline.

Bank stocks are an important component of large-cap stocks, and their overall rise and fall are closely related to market investment style.

If the overall market systemic risk declines, it may drive the industry to reduce the decline, thereby affecting the company’s performance.

Tianqi Lithium (002466): Deeply cultivated lithium salt industry chain expands production capacity and gradually releases

Tianqi Lithium (002466): Deeply cultivated lithium salt industry chain expands production capacity and gradually releases

I. Event Overview Tianqi Lithium Industry released its 2018 annual report on the evening of March 28.

Report the core company’s operating income 62.

44 ppm, an increase of 14 years.

16%; net profit attributable to mother 22.

00 ppm, an increase of 2 per year.

57%.

Second, the analysis and judgment of the main products steadily increased, the gross profit margin declined slightly, the reported growth, the company’s main lithium salt business steadily increased.

In 2018, the company’s output of lithium ore, lithium compounds and derivatives increased by 12 厦门夜网 respectively.

00%, 22.

77%, with sales increasing by 6 per year.

70%, 16.

25%.

The volume and price of lithium ore rose, unit operating income increased by 18%, and overall revenue increased by 25 in ten years.

76%.

As lithium compounds caused price adjustments in the report, unit revenue fell by 5.

95%, while rising sales hedged the impact of falling prices and increased operating income by 9.

33%.

In terms of operating costs, the unit cost of lithium ore rose by 11.

81%, the lithium compound increased by 1.

At the same time, the price of finished products fell, leading to a slight decline in overall gross profit margin2.

53 up to 67.

58%.

The acquisition of SQM led to an increase in financial costs, and the proposed issuance of convertible bonds to alleviate funding pressure. For non-operational aspects, the company acquired SQM (23.

77%) shares lead to increased income, increased exchange losses, and overall increase in financial expenses4.

16 billion.

Investment and financing projects produced 1.

3.4 billion consulting fees, dragging down current performance.

And for the highest SQM (2.

09%) account processing of shares, confirmed 5.

The 1.2 billion investment income basically hedged the expenses incurred by the acquisition of SQM.

In 19, the company intends to issue no more than 5 billion convertible bonds (already changed through the shareholders’ meeting). If the issue is successful, it can effectively alleviate Tianqi’s capital pressure.

The company is deeply cultivating the lithium salt industry chain, and the performance potential is continuously released. The upstream resources and production capacity continue to expand. The Thaleson Phase II and Phase III projects are expected to be put into production in the second quarter of 2019 and 2020, respectively, and will increase production capacity to 134 Euros / year (LCE16.

8 seconds), 180 seconds / year (LCE22.

5 initial).

At the same time SQM (25.

86% equity) actively expand production. The company plans to expand its lithium carbonate production capacity to 12 digits / year and 18 digits / year by 2019 and 2021.

In the context of rising resource output, downstream lithium salt processing production lines have also been gradually put into operation, and the two-phase lithium hydroxide project at Quinana (total of 4).

8 initial), Suining lithium carbonate project (2 initial) will also gradually release capacity in 2019.Zhangjiagang Base and Shehong Base are expected to increase their production capacity and efficiency after the technological transformation.

The company deeply cultivates the lithium salt industry chain, has the advantages of high-quality resources and capacity scale, and must have certain pricing power.

As the price of lithium carbonate has gradually stabilized, the demand represented by new energy vehicles has gradually increased, and the release of long-term capacity has promoted the company’s performance.

Third, the investment proposal takes into account the company’s initial perfection of the lithium industry chain layout, the downstream new energy vehicle penetration rate has gradually increased, the current lithium carbonate price has gradually stabilized, and the company’s estimated earnings per share for 2019-2021 is 1.

75/2.

11/2.

54 yuan, corresponding to the current sustainable PE is 20/16 / 14X.

At present, the price-earnings ratio of Tianqi Lithium is in the alternative position of the 18% quantile since the listing, giving a “recommended” rating.

Fourth, risks indicate that product prices fell more than expected, the project’s production progress fell short of expectations, and downstream demand fell more than expected.

Juneyao Airlines (603885): The performance is in line with the expected benefit of the industry;

Juneyao Airlines (603885): The performance is in line with the expected benefit of the industry;

Net profit fell by 7% in 2018, basically in line with expectations; the beneficiary industry’s business climate has risen, raised to “buy” In 2018, Juneyao Airlines achieved revenue of 143.

6.6 billion, a previous appreciation of 15.

7%; sharp rise in oil prices dragged gross profit by more than 15% to 21.

4.6 billion.

Benefited from a 69% increase in ticket prices to 4.

390,000 yuan, a one-time gain on disposal of long-term equity investment1.

880,000 yuan, net profit attributable to mother decreased by 7% to 12.

33 ppm, which is slightly lower than our Air Force forecast of 4.

9%, basically in line with expectations.

According to the latest exchange rate forecast of Bloomberg, we will increase the net profit attributable to mothers to 17 in 2019/20.

55/25.

3.6 billion, first date 2021 return to mother net profit 34.

14 ppm; Based on the 737max grounding or surpassing expectations, fare liberalization continues to advance, 杭州桑拿 peripheral oil prices, and exchange rates are relatively stable. We are bullish on the aviation boom and raise our target price to 18.

70-19.

90 yuan, raised the rating to “buy”.

Initial tightening was provided in 2018, with abandonment of asking prices, with a slight decrease in load factor but fare improvement5.

9% was affected by the austerity policy provided by the Civil Aviation Administration. The company’s domestic line supply growth in 2018 was slightly obvious, with only the only added value.

1%, a growth rate of 13 compared with last year’s average.

Two averages, demand increased by 11 in ten years.

2%, seat factor fare 0.

8 units.

The international route was affected by the shipwreck in Thailand and other factors, reducing supply for a decade.

8%, demand is reduced by 1 in ten years.

6%, load 深圳桑拿网 factor rating 0.

7 units.

The company adopted a strategy of abandoning the asking price, and even exceeded the total load factor by 0.

7 averages, but fares increased by 5.

9%, seat kilometer income improved by 5.

1%.

We analyze the main reasons for the fare: 1) deregulation of industry fares, airlines have raised the full price of economy class tickets; 2) fuel surcharges resumed for 7 months due to rising fuel prices

In 2018, the unit’s take-off and landing service charges increased rapidly, and oil prices and exchange rates dragged down the performance. We estimate the company’s 2018 ton-km deduction of oil cost added value8.

2%, mainly due to: 1) crew costs increased by 30% due to the increase in fleet size and route density; 2) take-off and landing service fees and other costs exceeded each increase of 23.

6% / 27.

5%.

The average price of Brent crude rose by thirty in 2018.

4%, the ex-factory price of aviation kerosene rose 28.

2%, our calculations push up its fuel cost by about 8.

4 ppm, RMB depreciation 5.0% brought foreign exchange losses of 14 million yuan, a drag on performance.

Deepen cooperation with China Eastern Airlines to stabilize Shanghai’s competition; Multiple benefits of the industry in 2019 will drive upward performance.In 2018, the company and its parent company and China Eastern Airlines and its affiliated companies will deepen capital cooperation through mutual issuance and other methods to promote deeper cooperation and further expansionStrong Shanghai market.

We believe that the company’s 2019 performance is expected to increase by 42% to achieve: 1) the decline in oil prices in 2019 and the appreciation of the RMB; 2) the duration of the 737MAX8 grounding or exceeding expectations, which is expected to extend to the peak season of the early shipment, which will help the industry to improve the supply-demand relationship, thereby promotingThe company’s air tickets and passenger seat rates have increased; 3) The levy standard for civil aviation development funds has been halved from July 1 this year; 4) The fare liberalization in the summer season will continue to advance.

Raise target price range to 18.

70-19.

90 yuan, raise the level to “buy” consideration: 1) According to the latest operating conditions, raise the 19E / 20E fare 1.

6% / 1.

6%, because the Civil Aviation Development Fund charges a standard cut of half the related fees; 2) Update the RMB / USD exchange rate for 2019/20 to 6 according to the latest forecast from Bloomberg.

70/6.

70, raised 19/20 net profit forecast2.

twenty one.

4% to 17.

55/25.

3.6 billion, dating 21 years net profit forecast 34.

1.4 billion.

We refer to the company’s 3-year estimated multiple (mean 2).

96x PB), considering the industry’s upward certainty, give 3.

0x-3.

2x2019PB (2019BVPS is 6.

22 yuan), raise the target price range to 18.

70-19.

90 yuan.

Risk reminders: Oil prices continue to increase, the appreciation of the RMB, the speed of high-speed rail, the trend of economic growth, force majeure such as major epidemics or natural disasters, and growth at peak hours is not as expected.

Dietary health effects of black sesame

Dietary health effects of black sesame

On the whole, on the whole, according to the results of contemporary medical research, black sesame seeds have significant health care effects.

Vitamin E in black sesame is very rich and can delay aging.

It has the functions of moistening the five internal organs, strengthening bones and bones, and strengthening vitality.

It can strengthen the body, prolong life, nourish liver and kidney, nourish the spleen and lungs, dry cough of lung yin deficiency, constipation caused by dry skin and digestive yin deficiency, and less milk caused by inadequate postpartum blood.

  According to scientific analysis by nutritionists: protein contains 21 per 100 grams of sesame.

9 grams, aunt 61.

7 grams, calcium 564 mg, phosphorus 368 mg, iron 50 mg, and also contains sesamin, arachid acid, sesaminol, oleic acid, palmitic acid, stearic acid, sterol, lecithin, vitamins A, B, D, E, etc.Nutrients.

Because sesame is so rich in nutrients, it plays a great role in delaying human aging and beauty.

  Skin Care and Beauty: Eat sesame often to keep the skin soft, delicate and smooth.

In people with habitual constipation, toxins in the intestines can harm the liver and cause rough skin.

Sesame can smooth the intestines to treat constipation and has the effect of moisturizing the skin.

People who use diet to lose weight will have dry and rough skin due to insufficient nutritional supplements.

  Sesame contains substances such as yolk, choline and muscle sugar that prevent the body from gaining weight.

While dieting and losing weight, rough skin will improve better if used with sesame.

  People often pay attention to hygiene while taking a bath, but at the same time as the dirt on the skin is washed off, the oil on the human body surface is also washed away.

Those who make the skin more dry due to degreasing can eat sesame to make the skin look brighter.

The role of vitamin E in sesame in skin care and skin care cannot be ignored.

It can promote the use of vitamin A by the human body, and can work synergistically with vitamin C to protect the health of the skin and reduce skin infections; it has a “moisturizing” effect on collagen fibers and elastic fibers in the skin, thereby improving and maintaining skin elasticity; Can promote blood circulation in the skin, so that the skin gets sufficient nutrients and moisture to maintain skin tenderness and gloss.

How Chinese medicine regulates female endocrine disorders

How Chinese medicine regulates female endocrine disorders

Endocrinology is an abbreviation for the endocrine system of western medicine, which is a vocabulary belonging to western medicine. So, do we Chinese medicine have a way to regulate endocrine?

What is the method of TCM to regulate endocrine?

  In fact, endocrinology is a substitute for human physiological functions. Modern women, because of their shoulders at work and the dual pressures of the family, are also prone to disturb the operation of qi and blood due to internal factors such as depression, irritability, anger, and excessive thinking, which lead to endocrine disorders.

  In terms of Chinese medicine, endocrine disorders are a manifestation of yin deficiency and are caused by stasis of qi and blood.

Congestion stays in the body, the veins are blocked, external poisons invade the body, and postpartum lochia can cause stasis of qi and blood.

  Many women’s common diseases are actually caused by endocrine disorders.

Therefore, to treat these complications, we need to start with the smooth flow of qi and blood, so that the essence and blood nourish the whole body, that is, accelerate the blood circulation and comprehensively regulate from the inside out.

According to the principle of dialectical treatment of traditional Chinese medicine, people with hyperfunction should pay more attention to nourishing yin, and those with impaired function often have qi and blood deficiency, kidney deficiency, etc. Generally, treatments such as blood tonic, qi and kidney are given to improve the situation.
  Traditional Chinese medicine does not need to be performed in the hospital to regulate endocrine. It can be done daily. The diet needs to be particular, such as eating less fried foods, animal aunts, sweets and stimulating foods, and more vegetables and fruits.

Life needs regularity.

Women must learn to combine work with rest to ensure adequate sleep and avoid staying up late.

  In fact, traditional Chinese medicine is not worse than western medicine in terms of regulating endocrine disorders. It is just a few different paths. Traditional Chinese medicine pays more attention to health care and comprehensive conditioning. Although the effect is slow, the continuous effect is better than western medicine’s hormone therapy.

Communication and interactive life are higher

Communication and interactive life are higher

My boyfriend is 1.8 meters tall and has a particularly shapely body. He has an indescribable elegance and nobility.

At that time I thought: If I can marry this jun in this life, I will be enough!

And he seemed to be hooked on my pure knot, beautiful and gentle.

  Three years later, we entered the palace of marriage.

  The second year after my marriage, my feelings began to change.

This is not that our love has faded, but that my petite woman has a barbarous dream.

  When he looks at me with his concentrated and obsessed eyes like admiring his beloved artwork, I hope his eyes become more obsessed with changing wildness because I am a woman and not an artwork; when he caresses me carefully, IHope he creates me to appreciate his enthusiasm and strength as a man.

On many nights of insomnia and loss, I persuade myself that my husband is a university lecturer who is a good example, and I cannot hope that he is like a fierce peasant and an uncivilized savage.

  I should learn to have sex with my husband as a long-lasting poem, a piece of soothing music, a glass of old wine, and slowly taste it.

But every time when my orgasm is about to come, and he is still slow, I am very impatient and even want to get angry with him, but I hold back every time.

  I dress myself carefully every day.

The woman is pleased, and I hope he sees my charming appearance and buries me impulsively in the living room, or hugs me tightly, or throws me on the bed, expressing his feelings and needs in a remorse.

I longed for the feeling of incisiveness and joy, but he still kept the tenderness and detail when he was newly married.

  I thought about telling it all to him, and I didn’t speak well.

Because I know he likes my tenderness and ingenuity very much. In his mind, I am a very romantic and ladylike wife. How can such a wife talk to her husband to have sex with her face to face?

How can we demand strength and fanaticism?

But if I do n’t say it all the time, I feel very lost and dissatisfied.

Over time, I worry that the quality of our marriage will decline, and maybe our love will fade someday.

  One Sunday morning, we woke up in bed and talked.

My suddenly blessed heart told him that I had a dream, dreaming that we were running on the beach without people, he suddenly pressed me to the beach, and eagerly took off my clothes .In us, his fierce movement made me feel excited and relaxed like never before.

He listened to the impulse, and then, I really experienced the joyous feeling of my virtual dream.

  Since then, he seems to have learned the skills of sex.

We often change various forms, and his soft movements make me very satisfied.

I was amazed by his changes, but he said, “Thank you for this.

You knew your dream that day, and I knew you weren’t just talking about dreams, but giving me some kind of inspiration.

If at the time you said directly and simply that you should be dissatisfied with sex, I might not believe it, or I might lose my interest and confidence in sex.

After listening to what you said, I went to consult a sexology expert. He said that most women have new requirements for sex after they have been married for three or four years, and even some fantasies about being raped.

“Hearing him say this, my face turned involuntarily, because I used to have this illusion.

“Don’t be embarrassed, sex experts say that this fantasy is not that women really want to be raped, they just want to feel some changes and strength during sex.

Moreover, it is not the passive and passive women who have this secret fantasy.

“Don’t go on.

“I covered his mouth and said.

“It’s not what you think,” he said, “most of the savage dreams are those who are aggressive, creative, and independent.

I breathed a long sigh of relief, and said, “I thought my thoughts were abnormal!”

“So we need to communicate more in the future, a person crying and thinking in his heart will not help, and will cause heavy psychological pressure on himself.

“I took over his words and said,” Also, we must pay attention to the communication methods and skills. Failure to do so will cause psychological stress and even psychological obstacles to both parties.

“Our lives have returned to the sweet happiness of our newlyweds, and we have a mature charm in our sweet happiness.

Girlfriends all said that I became a different person, “Zijuan, what tricks do you use, you see you are now brilliant!I told them the secrets of my girlfriends, and they sighed after hearing, “We have similar ideas, but we never have the courage to speak up.

“” How can they know without saying?

They are not maggots in our belly.

“I joked.

“But we look like a sweet wife and let him know that we have that idea. Do you think he thinks of us?

“Asked a girlfriend.

I told her what her husband said and she couldn’t help smiling.

  The sexual life of husband and wife is an art, and it can only be perfected if the husband and wife communicate in time and work together.

Eruption time and step by step of permanent teeth

Eruption time and step by step of permanent teeth

Children usually change their teeth when they are 6 years old, but Bin Bin is 9 years old. There are only 7 scattered and deciduous deciduous teeth left on the gums. They are bare elsewhere, and one permanent tooth has not grown out.protruding.

His parents took him to Zhengzhou Dental Hospital, and the doctor diagnosed it as “alveolar bone hyperplasia”.

Bone hyperplasia, also known as “bone spur”, is a bone spur on the alveolar bone.

  There is time for the eruption of permanent teeth and implantation of the hospital’s director of maxillofacial surgery, Zhu Keyi, said that with the increase of children’s age, small deciduous teeth can no longer adapt to the growing jawbone and increasing chewing force. By 6?
At the age of 7, you will have to change your teeth. The original deciduous teeth are replaced one by one. By the age of 12, they are replaced by permanent teeth.

Tooth replacement usually starts with the lower two front teeth and then the upper two front teeth.

The time when the front incisor (commonly known as the incisor) comes out is 6?
9 years old with a lateral incisor of 7?
11 years old.

  Permanent tooth eruption affects the development of oral and maxillofacial organs. According to X-ray examination, although Binbin’s permanent teeth have developed, due to alveolar bone hyperplasia, the gums become thick and tough, making them large, making permanent teeth unable to break throughAt the same time, heavy resistance prevents the deciduous teeth from resetting and stays on the gums, which also prevents the permanent teeth from emerging.

What’s worse, because the roots of the teeth have been fully developed, the root canal has been closed, and there is no motivation to germinate, it is very difficult for these teeth to have their first days!

  Director Zhu reminded that if some factors are affected during the replacement of breast and permanent teeth, this process will be disordered, which will cause permanent teeth to eruption and affect the development of oral and maxillofacial organs.The function causes harm, and Binbin’s maxillary protrusion may be related.

  In Binbin’s case, surgery is needed. The gums are opened, the hyperplasia is removed, the crown is exposed, and traction is performed in a timely manner.

  Early detection and early treatment to reduce the risk of alveolar bone hyperplasia are often caused by factors such as genetics, drugs, and viruses.

Binbin’s mother had rubella during pregnancy and took some medications.

Therefore, mothers must strengthen protection during pregnancy, do not abuse drugs, do not do random radiological examinations and treatments, do not touch toxic substances such as pesticides, and prevent rubella virus, cytomegalovirus, hepatitis B virus and toxoplasma infection.

During the child’s tooth replacement, parents should pay attention to supplement their nutrition and give them foods rich in vitamins A, D and calcium and phosphorus.

Let your child develop the habit of rinsing and brushing their teeth.

Zhu Keyi said, if Binbin can advance 1?
2 years of treatment, the treatment is simple, the treatment cycle is prolonged, and the cost will be reduced.