[How long can blueberry sparkling wine soak]_How to soak_How to soak

銆愯摑鑾撴场閰掕兘娉″闀挎椂闂淬€慱鎬庝箞娉濡備綍娉?
钃濊帗鏄竴绉嶅緢濂藉悆鐨勬按鏋滐紝鍦ㄧ敓娲讳腑涔熸槸娣卞彈浜轰滑鍠滅埍锛岃€岀敤钃濊帗鍒舵垚鐨勮摑鑾撻厭锛岀敱浜庡埗浣滄柟娉曠畝鍗曪紝鍛抽亾閰搁吀鐢滅敎鐨勫崄鍒嗗ソ鍠濓紝鍥犳寰堝浜哄湪瀹朵腑閮芥兂瑕佽嚜宸卞埗浣滆摑鑾撻厭銆傚湪瀹跺埗浣滆摑鑾撻厭闇€瑕佽€冭檻鐨勫洜绱犳湁寰堝锛屾渶閲嶈鐨勫氨鏄娉ㄦ剰钃濊帗閰掔殑淇濆瓨鏃堕棿锛屽鏋滀繚璐ㄦ湡杩囦簡杩樺枬锛屽緢鍙兘浼氬奖鍝嶈韩浣撶殑鍋ュ悍銆傞偅涔堬紝钃濊帗娉¢厭鑳芥场澶氶暱鏃堕棿鍛?涓€銆佽摑鑾撴场閰掕兘娉″闀挎椂闂村崐涓湀鍒颁竴涓湀涔嬩箙銆傝嚜宸卞埗浣滅殑钃濊帗閰掓槸姣旇緝澶╃劧鐨勶紝娌℃湁娣诲姞闃茶厫鍓備箣绫荤殑涓滆タ锛岃€岃摑鑾撳張鏄竴绉嶈惀鍏绘垚鍒嗛潪甯镐赴瀵岀殑姘存What are you talking about? What are you talking about? What are you talking about? What are you talking about? What are you talking about? How are you going to do it? Do you have a fan? Do you want to do it?Field awards and awards awards awards awards awards awards awards awards awards awards awards awards in Hong Kong娉ㄦ剰浠€涔?I am not sure what to do and what to do and how to do it. How to do it? Do you want to do it? Do you want to do it? Do you want to do it?€佹棤娌圭殑銆?銆侀€夋嫨娓呴鍨嬬殑閰掓瘮杈冨ソ銆傛竻棣欏瀷閰掑懗閬撴瘮杈冩贰锛屼笉浼氭帺鐩栬摑鑾撴湰韬殑鍛抽亾锛岃€岄叡棣欏瀷閰掑懗閬撹緝閲嶏紝浼氭帺鐩栧叾钃濊帗鐨勫懗閬擄紝涓嶉€傚悎鐢ㄦ潵娉℃灉閰掋€?Inferiority of inertia: Insufficient inertia, inferiority, inertia, correction, correction, and application of a combination of inferiority and inferiority.摑鑾撶殑鍙樺寲銆備笁銆佽摑鑾撻厭瑕佸浣曚繚瀛樹綆娓╀繚瀛樸€備綆娓╁彲浠ユ姂鍒跺井鐢熺墿鐨勭敓闀夸笌绻佹畺锛岃繘鑰屽欢闀块鐗╃殑瀛樻斁鏃堕棿锛屽洜姝わ紝鍙互灏嗚摑鑾撻厭鏀惧埌鍐扮涓喎钘忥紝鑰屼笖瑕佺洊濂界摱鐩栵紝閬垮厤鍚稿叆绌烘皵锛屽彂鐢熸哀鍖栧弽搴旓紝缂╃煭钃濊帗閰掔殑淇濆瓨鏃堕棿锛岄檷浣庤摑鑾撻厭鐨勯鐢ㄤ环鍊笺€?

[Food that can increase female sexual desire]_Enhancing sexual desire_Woman_How to eat

[Food that can increase female sexual desire]_Enhancing sexual desire_Woman_How to eat

In daily life, many people will have a problem of low sexual desire, which will have a great impact on the relationship between husband and wife, so you need to choose the appropriate method for treatment. In fact, there are many foods that enhance female sexual desire in life.Let’s introduce it.

1. Pepper research found that eating pepper can promote the secretion of “endoceptide”, and the “capsaicin” in pepper also has the effect of speeding up the heartbeat and increasing passion.

Therefore, eating peppers often helps to increase sexual desire and create a “sex” blessing life.

2. Salmon Salmon is even delicious, and it is also an excellent source of protein, which has a key role in staying power. Among them, Omega-3, which can enhance the serotonin level in the brain, thus ensuring people’s emotions.

Salmon also contains vitamins A, D, and B, as well as calcium, all of which help increase sexual desire.

3, soft-shelled turtle, also known as round fish, ball fish, catfish, contains glial protein, trace amounts, iodine, vitamin A, vitamin B1, vitamin D, niacin, protein, iron, calcium, phosphorus and other nutrients.

Its sweet and delicious, flat nature, nourishing yin and kidney, nourishing qi and deficiency.

It is a food for women and a good gynecological medicine. It has better effects on improving female sexual function and preventing and treating gynecological diseases.

4. Women with low black soybean libido can also eat more black soybeans in daily life. The rich protein, isoflavones and carotene, nicotinic acid, vitamin b1 and other nutrients can enhance sexual desire.

In addition, the isoflavone substance also has an estrogen-like effect. At the same time, modern medicine has proven that black beans can both enhance sexual desire and help women beautify their skin.

5. The so-called hen is actually a hen who has not laid eggs. This kind of chicken has a good sexual desire enhancement effect for women.

It was found in the study that the hens contained a lot of nutrients such as protein, vitamin E, vitamin B group, and other nutrients such as calcium, phosphorus, and iron.

Among them, Chinese medicine pointed out that the hens have the effects of nourishing yin, moisturizing, and nourishing the essence, especially for women with weak sexual desire caused by various reasons.

[Black pepper beef]_Black pepper beef_How to do_How to do

銆愰粦妞掔墰鑲夈€慱榛戞鐗涜倝_鎬庢牱鍋歘濡備綍鍋?
I am afraid that you will be arrested, you will be arrested, you will be arrested, you will be swept up, you will be swept away, you will be able to take care of you, and you will be able to do it.鐗涜倝闇€瑕佹柊椴滅殑鐗涜倝鍜屽ソ鐨勯粦妞掋€傜墰鑲夊湪鍒朵綔涔嬪墠鍙互绋嶅井鑵屽埗涓€涓嬶紝鍙互鐢ㄧ孩閰掓潵鏇夸唬鏂欓厭锛屽懗閬撴洿濂姐€?递 多 綔 鏉 揉 揭 採 採 握 氱 駱 Reading and embellishment?150 ounces? Aya smoked (钂?(200 ounces?湮 呮 枡 Adorable?60 ounces? Perplexed?20 ounces?What are you talking about?5 guns? Recognition supplement (10 鍏? Clash of Realm?5 guns?浜屻€佸仛娉?1. 鐗涙煶娲楀噣鍒囩墖锛岀敤绾㈤厭銆佸鑲夌矇銆佺敓鎶藉姞涓€鐐圭偣鑹叉媺娌硅厡鍒?闒 嗛 挓 2. 瑗胯懌鑺︺€佽儭钀濆崪娲楀噣鍒囩墖鍒嗗埆鐐?.(Introduce the rules to make up for Chong Chong) 3. 嬲 嬭 懕 咲 楀 卣 囒 啩 4. 灏嗙孩閰掋€佺敓鎶姐€佺櫧绯栥€佺洂璋冩垚姹?5. Use the chain to pull the fork and the fork to succumb to the world, and be afraid of the world, the world, the world, the world, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people, the people,崪鍜岃皟濂界殑姹併€侀粦鑳℃鍗冲彲6. 鍙栦竴骞冲簳鐩橈紝灏嗙背楗€掓墸鐩樹笂锛屾祰涓婄倰濂界殑鑿滀笁銆佽惀鍏讳环鍊肩墰閲岃剨鑲夛細 鐗涜倝Sorry, it ‘s hard to see what is happening. It ‘s a good thing. I do n’t know what it ‘s like. I do n’t know what it ‘s like. I do n’t know what it ‘s like.I have broken down and inserted a strong chain. I have tried to get rid of it. I ‘ve gotten a handicap. I ‘ve gotten a handicap. I ‘ve gotten a lot of troubles. I ‘ve gotten a lot of troubles.   銗 倝 鍙  殩 雳 鏄    逭 卄 剄 剮 鉩 Lou Lou craftsman?鐗涜倝鏈夎ˉ涓泭姘旓紝婊嬪吇鑴捐儍锛屽己鍋ョ瓔楠紝鍖栫棸鎭锛屾娓存娑庝箣鍔熸晥锛岄€傚疁浜庝腑姘斾笅闅愩€佹皵鐭綋铏氥€佺瓔楠ㄩ吀杞€佽传琛€涔呯梾鍙婇潰榛勭洰鐪╀箣浜洪鐢ㄣ€?

[How to cut salmon sashimi]_How to cut_How to cut

[How to cut salmon sashimi]_How to cut_How to cut

Different countries have their own traditional cuisine. Naturally, there is no need to say more about Chinese traditional cuisine.

Let’s take a look at the very famous food in Japan today.

When it comes to Japan, most people think of sashimi and sushi. Sashimi and sushi are divided into many different types, most of which are made by processing and mixing seafood.

So, how should the salmon sashimi be cut?

How to cut frozen salmon with salmon sashimi First of all, buy fresh salmon and put it in the refrigerator for about 20 minutes. This way, the meat has a cold feeling. In addition to good taste, the meat is better cut.

This step of sterilizing utensils is also very important. Before cutting, the boards and knives are scalded with boiling water. It is best to disinfect it with alcohol. After all, it is eaten directly.

(PS: here is disinfected by burning with alcohol, if you are afraid, do n’t try it) Peel, slice the meat and align it along the back of the fish into two pieces. It is best to cut it down to the bottom and cut it out if you pause.It’s not good, there is no trick here.

The most taboo thing about picking a piece of pure sashimi is fishbone. Although the salmon is a main stab, there are still too many interspinous stabs. In order to taste, we need to pick out the interstitial stabs.

The specific method is: touch the fish along the vertical lines of the fish, you can feel the fish bones, peel it gently with tweezers to peel it, and carefully peel it with a flat knife. Remember to sharpen the knife before peeling, so that the knife does not accidentally chop woodwork.

6.

Finally, slice and place on the plate.

The slicing technique is: oblique cutting, which is more flavorful and looks good. Salmon sashimi. Ingredients: 250 grams of fresh salmon fillet, white radish. Seasoning: green mustard sauce, Japanese 4D soy sauce (or Maggi soy sauce), cucumber.Production method: 1. Cut the white radish into filaments and put it in a plate for reorganization. Cut the cucumber into 1 cm thick pieces for use. 2. Cut the salmon fillet into 4 thick pieces and place them on ice cubes., Then cut some thin slices into a flower shape; 4, put the cucumber in a dish, put the green mustard sauce in a cone, and put it in a lemon basket; 5, with a dish of soy sauce, add an appropriate amount of green mustard when eating.

Features: bright colors, breath-opening, fresh and delicious.

[Does mung bean remove dampness]_Green bean_Can you

銆 愮 豢 Pu 嗙 嚧 婧 抧 銆 慱 鎑 隬 Pu 哶 鑳 鑳 鑳?
寰浜病病病病病敤锛岄櫎浜嗗湪澶忓ぉ镄勬敤锛岄櫎浜嗗湪澶忓ぉ镄勬椂鍊欏枬涓€鐐圭偣鑳藉叿鏈夐槻姝腑鏆戠殑鏁堟灉浠ュ锛屽苟娌℃湁鍏朵粬鐨勭敤閫旓紝鍏跺疄缁胯眴鏄彲浠ョ闄ゆ箍姘旂殑锛岃€屼笖杩Awkwardness and fearfulness of the frustration of the world and the country’s philanthropy:  姪 韬  綋 鎺 鎨 槨 秾 秷 瑷 璷 璷 纴 菴 嗰 槸 啯 镯 長長 敶 敷 敷鍏新兴细链夋満閰告垨钥呮槸缁寸呮槸缁镰村潖钥屽镊衔檷浣庝綔鐢ㄣ€傜婀挎帓姣掔殑濂介鐗?01.Weakness: argon drills, squeezes, squeezes, squeezes, squeezes, squeezes, squeezes, crazes, crashes, crashes, crazes, sorrows, sorrows, sorrows, sorrows, sorrows, sorrows.瘨鏁堟灉鏈€濂斤紝鍙皢鍘荤毊鐧藉北鑽拰鑿犺悵鍒囧皬鍧楋紝涓€璧锋墦鎴愭眮楗敤锛屾湁鍋ヨ儍鏁磋偁鐨勫姛鑳姐€?2.缁胯眴锛氱豢璞嗗叿娓呯儹瑙f瘨銆侀櫎婀垮埄灏裤€佹秷鏆戣В娓寸殑鍔熸晥锛屽鍠濈豢璞嗘堡鏈夊埄浜庢帓姣掋€佹秷鑲匡紝涓嶈繃鐓殑鏃堕棿涓嶅疁杩囬暱锛屼互鍏嶆湁鏈洪吀銆佺淮鐢熺礌鍙楀埌鐮村潖鑰岄檷浣庝綔鐢ㄣ€?3.鐕曢害锛氱嚂楹﹁兘婊戣偁閫氫究锛屼績浣跨勃渚夸綋绉彉澶с€佹按鍒嗗鍔狅紝閰嶅悎绾ょ淮淇冭繘鑲犺儍锠曞姩锛屽彂鎸ラ€氫究鎺掓瘨鐨勪綔鐢ㄣ€傚皢钂哥啛鐨勭嚂楹︽墦鎴愭眮褰撲綔楗枡鏉ュ枬鏄笉閿欑殑閫夋嫨锛屾悈鎵撴椂涔熷彲鍔犲叆鍏跺畠椋熸潗锛屽鑻规灉銆佽憽钀勫共锛岃惀鍏诲張鑳戒績杩涙帓渚?04.钖忎粊锛氳枏浠佸彲淇冭繘浣撳唴琛€娑插惊鐜€佹按鍒嗕唬璋紝鍙戞尌鍒╁翱娑堣偪鐨勬晥鏋滐紝鏈夊姪浜庢敼鍠勬按鑲垮瀷鑲ヨ儢銆傝枏浠佹按鏄笉閿欑殑鎺掓瘨鏂规硶锛岀洿鎺ュ皢钖忎粊鐢ㄥ紑姘寸叜鐑傚悗锛岄€備釜浜哄彛鍛虫坊鍔犲皯璁哥殑绯栵紝鏄倢鑲ょ編鐧界殑澶╃劧淇濆吇鍝併€?5. The back of the device is filled with soldering flux, soldering flux, and new fine soldering paste is set up, and it is distinguished from each other. It can be distinguished from one another to the other.鍖栵紝鍥犳閫傚悎鎼厤鎺掓瘨椁愰鐢ㄣ€傚皬绫崇播寰堥€傚悎鎺掓瘨锛屾湁娓呯儹鍒╁翱鐨勫姛鏁堬紝钀ュ吇涓板瘜锛屼篃鏈夊姪浜庣編鐧姐€?6.绯欑背锛氱硻绫冲氨鏄叏绫筹紝淇濈暀绫崇碃锛屾湁涓板瘜鐨勭氦缁达紝鍏峰惛姘淬€佸惛鑴備綔鐢ㄥ強鐩稿綋鐨勯ケ瓒虫劅锛岃兘鏁磋偁鍒╀究锛屾湁鍔╀簬鎺掓瘨銆傛瘡澶╂棭椁愬悆涓€纰楃硻绫崇播鎴栨潵涓€鏉硻绫宠眴娴嗘槸涓嶉敊鐨勬帓姣掓柟娉曘€?7 璾 ㈣〣? ケ っ ? ェ ェ 姞 姺 麺 雺 姠 姩 姏 帏 渏 渜 渜 渜 丏 練 纴 繴 繭 繘 鎺 鎆 對 對 專 焧 焧 焧 焧 尾 焧 儧What are you doing? Do you know what you want to do? You can’t do it, you can do it, you can do it, you can do it, you can do it, you can do it, you can do it in the same way.8.逳 怅 黅 黗 黅 黅 黅 黅 滅 滃 懅 揗 渗 渚 湚 Ning  姪 姼 篃 瀵 屽 汈 駅-汅 構 尋 尋 尋 尋 尋 尋 将 層The most important thing is that there are many problems in the world: splitting up and splitting up and down: it ‘s very difficult to find out what ‘s going on, what ‘s going on, what ‘s going on?渹铚溿€佹煚妾眮锛屾棦濂藉枬鍙堣В娓达紝涔熸湁鍒╂帓姣掋€?

Where did the insurance go: 114 holdings and 103 new ones

Where did the insurance go: 114 holdings and 103 new ones
Insurance funds, as a representative of long-term investment, affect every nerve in the market.  From “Xiangxiong” to “Barbarians” to encouraging entry into the market, recent news also said that “the proportion of insurance assets investment equity assets is planned to gradually increase from the current 30% to 40%”, which has caused widespreadattention.  ”International Financial News” reporter sorted out the increase and decrease of insurance capital holdings found that at the end of 2018, the top ten shareholders had 433 companies with insurance capital, and the list of 114 top ten shareholders had no insurance capital this year.  Senior officials believe that if the above news comes true, it will increase the confidence in insurance capital and bring trillions of incremental funds to the stock market, which will help boost market confidence and have positive significance.  Nearly 70% favor manufacturing industry reporters from the International Financial News. According to Choice statistics, as of the end of 2018, among the top ten shareholders of listed companies in Shanghai and Shenzhen, there were 433 companies with insurance capital shareholders.Compared to 454 at the end of 2017, there were 21 fewer.  And as of May 31, 2019, there were 103 listed companies with new insurance shareholders among the top ten shareholders.  The earliest defense insurance companies preferred real estate, and the reporter found that most of the listed companies they held were manufacturing.  Among the above-mentioned 103 new companies, 71 companies belong to the manufacturing industry (subordinated to the CSRC’s industry classification), accounting for about 69%; 6 companies in the information transmission, software and information technology service industry, accounting for about6%; 4 companies in the transportation, storage and postal industry, accounting for about 4%; 4 companies in the water conservancy, environment, and public facilities management industry, accounting for about 4%; 4 companies in the cultural, sports, and entertainment industry, Accounting for about 4%; three companies in the real estate industry, agriculture, forestry, animal husbandry, fishery, wholesale and retail, each accounting for about 2.9%; the rest also have a total of 5 construction, health and social work, electric heating, accommodation and catering.  Life Insurance “Drinking and Taking Medicine” Among various insurance companies, Ping An, as a head insurance company, has attracted much attention.The top ten shareholders of three listed companies in the insurance products of Ping An Life Insurance are China Tianmao, Sinotruk, and China Trade Logistics.  Taikang Insurance is full of confidence in the emerging marine chemical industry, and its two insurance products have been directly promoted to the fourth and fifth largest shareholders of Shandong Haihua.  China Life has also made strides, and 21 of the newly listed A-share listed companies have emerged.I love drinking, taking medicine, and watching movies.Among them, 3 companies are “savory and mellow”, which are Wuliangye, Yanghe Co., Ltd. and Shanxi Fenjiu respectively; 4 companies are medical and health categories, namely Yifan Medicine, China Resources Shuanghe, Fosun Pharmaceutical, and the people; and 3 othersEntertainment companies are China Film, Huayi Group, and Mango Super Media.  In addition, on April 26, China Life also listed Shen Wan Hongyuan in the Hong Kong stock market.According to the disclosed information, China Life and Shenwan Hongyuan merged the Cornerstone Investment Agreement, participated in Shenwan Hongyuan’s H-share IPO, and subscribed for publicly issued H shares by a qualified domestic institutional investor (QDII) established through foreign exchange authorization 17.2,097.2 billion shares, holding a total of 6 of Shenwan Hongyuan’s total H share capital.9052%.  According to the data of 114 companies being “broken up”, as of May 31, there were 422 companies with insurance capital among the top ten shareholders of listed companies in Shanghai and Shenzhen.In the case of new insurance capital among the top ten shareholders of 103 listed companies, compared with the data of 454 at the end of 2017 and 433 at the end of 2018, it is not difficult to find that the number of insurance capital among the top ten shareholders of listed companiesDeclining.  According to statistics from the International Financial News, according to Choice statistics, among the 433 of the top ten shareholders with insurance capital at the end of 2018, 114 companies’ insurance capital shareholders have withdrawn from the list of the top ten shareholders.  The reporter noticed that among 深圳桑拿网 the above-mentioned companies in which the insurance capital of the top ten shareholders “disappeared”, there were a number of stocks that attracted much attention.In a sunflower drug industry, the founder of this company was exposed in April this year because of a property dispute, and his ex-wife was turned into a vegetative, and then arrested.  At the end of 2018, China Life Insurance (Group) Company-Traditional-General Insurance Products ranked the tenth largest shareholder of Sunflower Pharmaceutical, with a shareholding ratio of 0 in Sunflower Pharmaceutical’s total equity.6491%.At present, China Life has not been seen among the top ten shareholders.  In addition, the universal insurance product to which Ping An Life Insurance of China belongs is the third largest shareholder of Xinjiang Tianrun Dairy, and the shareholding ratio of tradable shares accounted for 1.6898%, which is no longer in the list of the top ten shareholders.  The proportion of equity investment is less than 25%. The reporter learned that there is currently a formal policy on “the proportion of insurance equity investment to be increased to 40%”. If it is confirmed, it must be a big plus.  However, from the perspective of insurance capital, its investment in equity assets is still worth cautious.  In fact, let alone the 40% equity investment ratio, the current use of insurance funds is far from the 30% limit.According to the data of Huachuang Securities Research Report, fixed income assets account for 70% to 80% of the investment assets of insurance companies; equity investments account for a relatively small amount, between 15% and 25%.  A certain insurance source said that the current equity market is shifting, and the investment situation of insurance funds should be stable first, and large-scale admission may also represent more alternatives.  In 2016, aggressive venture capital was dubbed the “barbaric” and tightened regulations.In 2017, insurance funds no longer held up their cards frequently, and more involved in the fixed increase market.  Since the end of 2018, the regulatory authorities have made intensive voices and continued to expand the scope of insurance investment.In October last year, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, pointed out that allowing insurance funds to set up special products to participate in resolving listed companies’ stock pledged liquidity risks does not involve the supervision of equity investment ratios.  Subsequently, the “Administrative Measures on Insurance Fund Investment Equity (Draft for Solicitation of Comments)” was promulgated. It is proposed to remove the industry-wide restrictions on the implementation of equity investment by insurance funds and broaden the scope of insurance equity investment.

HKUST News Flying (002230): Leading artificial intelligence industry dividends in technology to open high-speed growth track

HKUST News Flying (002230): Leading artificial intelligence industry dividends in technology to open high-speed growth track
Viewpoint focus on maintaining outperforming industry investment recommendations HKUST Xunfei is a leader in the artificial intelligence industry of the United Nations. The company’s intelligent voice technology is leading the world.In the next 3-5 years, the application field under the boom of the artificial intelligence industry has entered a period of rapid growth. Xunfei adheres to the “platform + race track” development strategy, and can use technology barriers to continue to stabilize market access and realize technology realization and profit release.  Reason The artificial intelligence industry is at its third peak, and the application field is growing rapidly.Beginning in 2016, the artificial intelligence industry has entered the technology landing phase of the application field.HKUST Xunfei lays out the technical and application layers of the industry and, under the guidance of national policies, can seize the opportunities for industry transformation in the next 3-5 years to achieve high-speed growth.  Adhere to the “platform + track” strategic layout to B & C two-wheel drive.InfoFly faces the vast developer community 南宁桑拿 through the AI open platform, and at the same time conducts business layout in key areas.For the B business, Xunfei has solid channel advantages through the B-terminal gene, and future growth is expected; for the C business, Xunfei expands and expands to obtain technological advantages, and the overall business structure is tilted to the C terminal, which is conducive to profit release.  The AI + core business track is full of flowers.In terms of AI + education, the promotion of intelligent business has been smooth, and it has now entered a period of realization of economies of scale. We expect business income to be close to 10 trillion in 2020. In terms of AI + office and intelligent hardware, Xunfei Translator 3.0, the new products such as Xunfei smart recording pens have better performance than similar competitors, and the 天津夜网 market has responded well. We expect that the revenue of smart hardware business will continue to double.  Expense growth was controlled, and operating leverage drove up profit margins.In the past three years, Xunfei increased its spending on R & D and sales, built technical barriers and opened up sales channels.Beginning in 2019, the company will focus on improving per capita benefits, and its operating leverage will gradually come into play. We expect the company’s net profit margin to increase by 1-2 indicators to achieve profit growth that matches revenue.  The profit forecast is in line with expectations for the third quarter of 2019. We maintain our profit forecast unchanged.It currently corresponds to 88 in 2019/2020.1x / 61.5x price-earnings ratio, we maintain an outperform industry rating and a target price of 37 yuan, based on the 2020 segment total valuation method, corresponding to 97.3x 2019 P / E ratio and 67.9 times 2020 price-earnings ratio, 10 compared with the same period last year.4% upside.  Risk market competition has intensified; new products have fallen short of expectations; the accounts receivable cycle has been extended.

Hebang Biological (603077): New projects coming into operation after the peak season

Hebang Biological (603077): New projects coming into operation after the peak season

This report reads: The price of soda ash will rise slightly, the price of glass will remain strong, the price of glyphosate will try to stabilize, and new projects will be put into production to contribute to the performance.

In addition, high employee shareholdings demonstrate the company’s development confidence.

Covered for the first time, giving a cautious overweight rating.

Investment points: cautious increase of holding level: main business profit stabilizes, EPS 0 is expected in 2019-2021.

06/0.

07/0.

08 yuan, considering that the company’s new projects have been put into production one after another, with reference to the comparable company’s 2019 price-earnings ratio of 29.

80 times, corresponding to the target price of 1.

74 yuan, the first coverage, given a “cautious increase” rating.

The three major areas of chemical industry, agriculture, and new materials have developed together, and high-shareholding employees have demonstrated confidence.

Hebang Biotechnology is located in Leshan, Sichuan. It has formed a business layout in which the three major areas of chemical industry, agriculture, and new materials develop together. Revenue has steadily increased year by year. The CAGR in 2012-18 was as high as 22.

97%.

The company has annual output: soda ash 110, ester, glyphosate 5, bisglyphosate 18, special glass 46.

5 traces, 4.3 million square meters of coated glass.

The company intends to pay the transfer price1.

77 yuan / share implementation 3.

The 9.9 billion employee shareholding plan has a broad coverage and can effectively unite people’s hearts.

Soda ash 武汉夜生活网 prices will rise slightly, glass prices will remain strong, and glyphosate prices will stabilize.

At the beginning of August, the inventory of soda ash manufacturers has fallen to a historically low level of 43 months. The current market price is 1,600 yuan / ton, which was 25 yuan / ton earlier in July. It can be adjusted at the end of each month. The price is expected to rise slightly.

In the second quarter, glass stocks were better depleted, supporting glass prices continued to rise for seven months, and prices will remain strong through the coming season.

The linkage of glyphosate and diglyphosate boom started on October 1st, and the northern glycine enterprises may usher in the expected production suspension, and the price is trying to stabilize.

The methionine and diglyphosate projects have been put into production one 天津夜网 after another.

7 It is expected that methionine will be put into production in 19Q4. At present, the price is at a low level for nearly 10 years. Considering the high degree of oligopoly in the global market, China has initiated an anti-dumping investigation and the price is trying to stabilize in the future.

The double-glyphosate process optimization project is expected to be put into production in January 20, and the production capacity will be increased to 22 tons / year, which can achieve complete self-sufficiency of imino diacetonitrile.

risk warning.

The expansion of production is slow, and environmental protection efforts are lower than expected.

Huahong Technology (002645): Dingzeng Approved to Promote the Deployment of Renewable Resources Leaders

Huahong Technology (002645): Dingzeng Approved to Promote the Deployment of Renewable Resources Leaders

Dingzeng was approved to acquire Xintai Technology and continued to increase the layout of renewable resources.

The company announced on January 23 that the project for increasing projects was approved by the China Securities Regulatory Commission and will be 8 years old.

100 million acquisition of 100% equity of Xintai Technology, of which 5.

10,000 yuan is paid by the company by issuing shares, and the price of the shares is 7.

7 yuan, and additional matching funds not exceeding 3.

18 ppm for cash consideration for transactions.

The performance promise 无锡桑拿网 of this transaction: in 2020-2022, the actual net profit will not be less than 0.

85/1/0.

970,000 yuan, corresponding to PE9.

5/8/8 times.

Xintai Technology has a market share of about 20% in the comprehensive utilization of rare earth waste. The production process is leading in the industry. It mainly produces high-purity rare earth oxides through neodymium iron boron waste and phosphor waste. The products can widely use magnetic materials, computers, and communication equipment.High-tech fields such as three primary color phosphors.

At present, Xintai Technology has a production capacity of 2958 tons of rare earth oxides. We increase production by 85% of production capacity, and the net profit accessibility per ton in 20203.

4 million, we believe that due to the upcoming expansion of 5G, downstream demand for 北京男士会所 computers, communications equipment and other components may explode, while the supply of rare earth oxides is relatively limited, the industry ‘s prosperity will rise, and if the remaining price rises, Xintai Technology’s profit will beThere is upside.

The dismantling policy is favorable, the technical specifications are implemented, or a new era in the industry is started.

1. On May 6, 2019, the State Council promulgated the “Administrative Measures for the Temporary Recycling of Scraps”, which came into effect on June 1.

We think the impact: 1) The five major assemblies can be directly recycled, the profit of dismantling enterprises is expected to increase, and the incentive to invest and recycle scrapped cars is increased.

2) Liberalization of industry access will attract new investors to enter the market, and demand for automotive dismantling equipment is expected to increase.

At present, the annual automotive dismantling market size is 6.6 billion US dollars. In the future, the automotive dismantling market size is expected to reach 110 billion US dollars (of which 70 billion US dollars are the “big five assembly”), and the company’s downstream potential growth space is about 16 times.

2. On December 17, 2019, the General Administration of Market Supervision and the National Standards Commission approved the release of the “Technical Specifications for Disposable One-Time Recycling and Dismantling Enterprises.” We believe that the documents clearly define the facilities, venues, and minimum annual dismantling of dismantling enterprisesProduction capacity may start to integrate and upgrade the industry in 2020, and the company is expected to benefit significantly.

97.7 million yuan for land purchase and in-depth car dismantling.

In September 2019, the company announced that Zhongwubo, a subsidiary of the company, auctioned Beijing’s industrial land for 97.7 million yuan.

40,000 square meters for production and operation.

We believe that Beijing’s car ownership in 2018 was 6.08 million, corresponding to a breakthrough in scrapping volume, and only 8 scrapping enterprises. After the land purchase was completed, China Wubo has met the 20,000 square meters of land requirements. Considering the company’s equipment advantages and favorable industrial policies,According to the annual dismantling volume of 40,000 vehicles, the net profit of bicycles is 800-1000 yuan, and China Wubo may contribute 0.

3-0.

With a net profit of 400 million yuan, through the implementation of the new policy, both volume and price can be expected to rise, and performance after production is significantly improved.

Estimates and recommendations.

We expect the company’s EPS to be 0 in 19-21.

45/0.

63/0.

88 yuan, corresponding to 19 times PE in 19 years, 19 times the median PE in the industrial machinery industry is 32 times, the average is 41 times, and the average PB is 3.

5 times, other special equipment industry 19PE median 40 times, average 50 times, PB average 3.

2 times.

As a leader in the automotive dismantling industry, facing the excellent industry opportunity to liberalize market access in the industry, we believe that the market space may grow significantly in the next few years, and the company’s profit growth rate will exceed the machinery industry growth rate.24-26 times PE, corresponding to a reasonable value range of 10.

8-11.

7 yuan, 19Q3BPS is 4.

16 yuan to the company 2.

8-3.

0 times PB, corresponding to a reasonable value range of 11.65-12.

48 yuan.

Taken together, the company’s reasonable value range is 10.

8-12.

48 yuan, maintain the “primary market” rating.

Risk reminder: The market demand for automobile dismantling is less than expected, and the rare earth resource recycling business is not as expected.

Zoomlion (000157): The company’s core main business continued to grow at a high rate and profitability continued to increase steadily

Zoomlion (000157): The company’s core main business continued to grow at a high rate and profitability continued to increase steadily

Event: The company released a performance forecast today. In the first quarter, the net profit attributable to shareholders of the listed company was 8.

500 million-10.

500 million, an increase of 126% -179% in ten years.

The main comments are as follows: 1. Benefiting from the continued recovery of the construction machinery industry and the company’s commitment to the expansion of the product market, the company’s construction machinery segment’s operating income increased compared with the same period last year.

The main market segments of construction machinery from January to February include excavators and cranes, which increased by 40% and 60% respectively. The concrete industry is also in the process of continuous recovery. In addition, from the recent grassroots findings, the industry continued to maintain a high level in MarchIndustry prosperity.

The company has obvious advantages in the crane and concrete machinery industries. Among them, the company sold 1,496 cranes in January-February, an annual increase of 111%, and its market share reached 26%, an increase of nearly 7 pct compared with the same period last year.

2. The company’s profitability has been further improved.

The problems left over from the company’s history are gradually clearing up. With the higher down payment ratio of this industry and the higher output value rate of the products, the probability of the current second-hand company making a negative contribution to the company’s performance is more; the company furtherImprove expected growth and continue to advance 4.

0 Product engineering, product sales structure has been further improved, coupled with the scale effect brought about by the significant increase in product sales, profitability has continued to increase.

3. Driven by multiple sectors, the company’s performance in 2019 is expected to reach a new high.

First of all, the crane and concrete segments will continue to benefit from the prosperity of the industry. The company has obvious competitive advantages in the two markets. It is expected that it will be difficult to achieve a faster growth rate than the industry, especially in the segmented markets including tower cranes and pump trucks.The impact of factors such as environmental protection, rural market and other obstacles, as well as hindered development space. Secondly, in terms of product layout, the company began to increase its efforts to lay out and cultivate high-altitude operation platforms and excavator products, thereby continuously improving the company’s products.The company’s long-term long-term development has laid a good foundation; finally, the existing company’s second mobile phone problem has basically been cleared, the product structure has continued to be optimized, the industry’s prosperity has continued to grow, and the scale has continued to grow. In 2019, the company’s gross profit margins still have room for growth, and overall profitability is expectedFurther improvement.
Investment advice and rating: We expect the company to return to its parent’s net profit from 2019-2021 to 3.1 billion, 36 billion, and 3.9 billion US dollars, corresponding to 13 times, 11 times, and 10 times the corresponding PE, giving a “buy” rating.

Risk warning: 武汉夜生活网 real estate and infrastructure investment expansion, the economy is less than expected.