55 minutes swept the United States, the National Table Tennis World Cup semi-final against Japan
The 2019 Table Tennis World Cup men ‘s team entered the knockout stage tonight in Tokyo, Japan. The Chinese team swept the US team 3-0 in just 55 minutes.In the semi-finals, the Chinese team will face the host Japan team, and they have just beaten the German team 3-1.In the face of the United States team that is not strong, the National Table Tennis Team did not send all the main players. The three players who played were Xu Xin, Fan Zhendong and Liang Jingkun.Fan Zhendong swept the opponent.Photo / Osports first doubles match, Xu Xin / Liang Jingkun partner defeated Feng Yijun 3/0, Zhang Kai, and in the third game, he beat his opponent 11-0.In the next two singles, Fan Zhendong and Liang Jingkun swept Kanek and Zhang 3-0, and the National Table Tennis Team locked the victory 3-0. It took only 55 minutes in 3 games.In the semi-finals, the Chinese team will play host Japan.In the Air Force Group Stage, because the Japanese team unexpectedly lost to England, they had to face the powerful German team in the knockout.Tonight, the Japanese team at home fought a beautiful turnaround.The Japanese team reversed the German team by winning three consecutive singles in the case of Tatsuo Takayoshi / Yoshimura Shinaki losing the doubles.Zhang Benzhi and Ochalov and Francisca won streak for the promotion of the Japanese team.In another singles, Yoshimura Shinbara swept Bo 3 horizontally and broke a big upset.
55 minutes swept the United States, the National Table Tennis World Cup semi-final against Japan
Japanese Youth Training Director Dapingcheng speaks: helping Beijing football catch up with Japan
Football teenagers in the game.Beijing People’s Daily reported a message recently reported by the People’s Daily, which has attracted attention from all walks of life: In the face of the invitation to the Super League Club, 7 high school students of the Third High School Football Club attached to the Beijing People’s Congress chose to take the college entrance examination and refused to take professional football.road.In an interview with Sauna and Yewang, Chen Changhong, deputy secretary general of the Beijing Football Association responsible for youth training, introduced that this is a common situation faced by Beijing football and even Chinese football youth training.The “old Guoan” young coaches who are devoted to the grassroots are too few to train young football talents. The quantity and quality of coaches are the key.In 2019, there are 3550 registered coaches of all levels in Beijing.Chen Changhong said: “We first have to solve the problem of the number of‘ have or not ‘. According to the plan, we hope to increase the number of registered coaches to 4,000.”From next year, the Municipal Football Association will improve the quality of coaches through continuing education and other methods.Although there have been controversies in the outside world, few retired players have participated in youth training, but Chen Changhong thinks it is understandable, “Beijing has a total of 5 professional football clubs. In fact, there are very few retired players every year, and many people ‘s first choice is to stay in the club.Serve.”Professional players and grassroots coaches have vastly different incomes. After a few diversions, the number of retired players who can go to the grassroots coaches is so large.Even more than 20 Beijing Guoan players who originally participated in the A-League A team currently have only a few people working in the front line of youth training.This situation is also related to the change of the system. Chen Changhong reappeared: “How did older players develop in the pastThey are all coaches of the sports school. At that time, each sports school had two or three retired players, but now the times are different.”In order to improve the lack of quality, the Beijing Football Association hired the Japanese youth training director Dapingcheng in 2018, because” the characteristics of Japanese football are suitable for the development concept of Beijing football. “Dapingcheng fully introduces advanced football concepts to coaches, and is still collating training guides and ideas for players of all ages for Beijing football. At present, he has completed the training program for players under 12 years of age.陈长红告诉桑拿、夜网，这位日籍青训总监的工作强度非常大，每天不是去考查，就是在整理教案，“他对工作任劳任怨，我问过他：‘你没觉得这个工作很苦吗?‘He told me:‘ No, I ‘m doing an extra thing-helping Beijing football catch up with Japan.”” Dapingcheng is at the youth competition scene.The majority of parents of the youth training population provided by the Beijing Football Association prefer to let their children go to school in 2015. The football population registered by the Beijing Football Association is mainly dominated by professional club players. At that time, the statistical registration of the youth football population was not standardized.In recent years, this situation has improved. This year, there are 10,782 athletes aged 6 to 17 who have participated in the Beijing Youth League.Although there have been major advances in the past, Chen Changhong revealed: “We still have too much difference with football to break down scores.During the examination, I learned that there are more than 40,000 registered footballers aged 6 to 16 in Chiba Prefecture in Japan.According to the statistics of the Ministry of Education, there are currently 320,000 people on campus participating in football activities all year round, but only a broad number, not the registered population of football, which is very different.The youth football registration population is growing slowly, and the most common problem faced by Chinese football youth training workers is the problem from the parents of the child-why let the child play football?The subtext behind it is “Can football specialty students go to a good school?””Strengthening physical fitness and cultivating collective consciousness are not so competitive in the face of the actual progression to college.Chen Changhong told the sauna, Yewang: “In elementary school, many children are willing to participate in school team training, but in junior high school, the number of children playing football will greatly decrease.The previous wastage rate was 30% to 40%, but now it has reached 70% to 80%.”Like the seven senior high school students in the high school attached to the National People’s Congress, most parents and children’s final choice is to go to school.Chen Changhong analyzed that one side is a good university and the other is a Super League club. “I believe that most people will choose to go to college, not to mention the risk of success rate when they choose to enter a professional football club.”When school and playing football are no longer two-choice multiple choice questions, this problem may only be solved.The youth football league will expand in the future.Some problems of the Youth Training Center provided by the Beijing Football Association need to be solved together. In reality, in order to better build the foundation of Chinese football, the Chinese Football Association launched the Youth Training Center system in 2018.The concept of this system is to expand the base of youth training, select high-level young players based on this base, and receive three or four times of improvement training in the youth training center every month.So far, there have been 20 youth training centers nationwide.The Beijing Football Association is cooperating with the education department to promote the “May 16th Starry Sky” plan.Chen Changhong introduced that “May 8” is the city football association’s plan for the promotion of youth training centers, that is, the establishment of five city-level, large-scale district-level and 16 district-level youth training centers.The Ministry of Education’s “Starry Sky” plan is to set up a training center locally where children can improve their training.After the cooperation between the two sides, the progress of the youth training center will be smoother.”At present, we have built two municipal youth training centers, and the others are in progress.From the current situation, by the 2025 National Games, we may have 5 teams for each age group, which is more than the current selection.”Chen Changhong said.At present, the Municipal Football Association has to solve the problem of youth training base construction, because Beijing Youth Training has no base camp.Even across the country, only Jiangsu, Shanghai, Chengdu and Wuhan have youth training bases.However, in Germany, there are more than 360 youth training centers, and the gap is clear.”This is not something that can be solved by absorption alone or industry associations.”In Chen Changhong’s view, the key to solving this problem lies in joint efforts, which require the overall layout of the government and various departments.”Sauna, Ye Wang Zhou Xiao editor Wang Chunqiu proofreading Liu Baoqing
Progress in the relief of private enterprises in the securities industry has gradually shown that asset management plans have been implemented
Progress in the relief of private enterprises in the securities industry has gradually shown that asset management plans have been implemented
A person in charge of a large securities firm in the south said that it is actively promoting the implementation of the asset management plan, hoping to recover some of the difficulties of private enterprises as soon as possible. Our reporter, Hou Jiening, Securities Daily reporter learned that all securities companies are actively promoting the implementation of a series of asset management plans.It has completed a total of 527 commitments from 42 securities companies.500 million yuan.According to the latest data from the China Securities Association, as of December 14, 2018, 28 securities companies have established 31 series of asset management plans and 3 sub-plans, with a total investment scale of 417.1.1 billion yuan. ”We are actively promoting the implementation of the asset management plan, and we hope that the difficulties of some private enterprises will be recovered as soon as possible.A person in charge of a large southern securities firm told reporters that they have reached cooperation intentions with many parties one after another. The reporter learned that since the securities industry’s series of asset management plans to support the development of private enterprises have been fully launched, they have received positive responses from various agencies in the industry.For example, the series of asset management plans of Guangfa Securities Management will close to 70 million yuan on November 13, 2018. It will finance the controlling shareholder of Meishang Ecology by means of 成都桑拿网 debt investment, and develop a practical and flexible exit mechanism to achieve this.The project’s rapid implementation; Tianfeng Securities Management’s series of asset management plans to invest 200 million yuan on November 19, 2018. It was established in cooperation with local financial institutions such as Taizhou Financial Investment Co., Ltd., Zhejiang Agricultural Bank Phoenix Investment Management Co., Ltd.A partnership company, by transferring part of the shares held by the controlling shareholder of Crystal Optoelectronics, melted the funds, and improved the capital structure of the controlling shareholders without affecting the control of the listed company; Soochow Ventures ‘private equity subsidiary Soochow Venture Capital invested inRaised funds on December 3, 2018 to set up a series of asset management plans, which 南宁桑拿 were financed by the transfer of part of the shares held by the controlling shareholder of Shengli Precision. Statistics show that as of December 18, 2018, a series of asset management plans managed by 5 securities companies have invested in specific projects, with a total investment amount of 19.500 million yuan. The head of a securities investment bank said that it is a very special thing for a securities company to launch a securities industry to support the development of a collective asset management plan for private enterprises, which is conducive to supporting the healthy development of the private economy, as well as improving the ability of securities companies to expand their business in response to the crisis.Capacity and the securities industry as a whole have improved the risk management level of equity pledge financing business. ”Each securities company takes advantage of the investment banking expertise at a critical moment to effectively mitigate the risks of private enterprises.The relevant person in charge of the China Securities Industry Association said that in the next step, the association will advocate and guide securities companies to actively take action under the principle of “marketization, name, and individualization”, promote relief practices to achieve fruitful results, and support the alternative development of the private economy.
Yangtze Power (600900) quarterly report comments： fluctuating water performance improves performance
Yangtze Power (600900) quarterly report comments: fluctuating water performance improves performance
In the first three quarters, net profit attributable to mother decreased slightly by 0.5%, the decline in operating costs caused the third quarter results to increase by only 1.In the 武汉夜生活网 first three quarters of 5%, the company’s operating income was 380.84 ‰, a decrease of 9 per year.81 ppm or 2.51%; operating costs 134.82 ‰, a decrease of 11 per year.13 trillion or 7.63%; net profit attributable to mother 178.33 ppm, a reduction of 0 per year.9 trillion or 0.5%. In the third quarter, the company’s operating income was 177.21 trillion, a decrease of 21 a year.35 ppm or 10.75%; operating costs 47.25 trillion, a reduction of 15 a year.600 million or 24.83%; investment income increases by 4 per year.200 million to 5.5.7 billion; net profit attributable to mother 92.600 million, a decrease of one year.4 trillion or 1.5%.The operating cost of Q3 decreased significantly, and we speculate that the main reason is: some expenses have been settled in advance in Q2, or the depreciation has exceeded the reduction. In the first three quarters, the investment income was 24.63 ppm, an increase of 0 per year.32 trillion; financial costs 39.9 billion, a decrease of 3 per year.37 ppm; other benefits decrease by 7 per year.1.5 billion US dollars, basically due to the large-scale hydropower companies supplementary return policy expired at the end of 2017, the remaining funds have been recovered in 2018. In Q3, the incoming water was withered and the excess charge in the first three quarters decreased2.37%, electricity prices remained stable. The company’s first three quarters of electricity generation amounted to 1602.2.2 billion kWh, a decrease of 2 per year.37%; Q1, Q2, and Q3 are 361, respectively.78, 492.11,748.3.3 billion kWh, +4 in the past.78%, +5.17%, -9.61%. In the third quarter, the water inflow from the Xiluodu Reservoir in the upper reaches of the Yangtze River was dry compared with the same period of the previous year29.At 45%, the amount of water coming from the Three Gorges Reservoir was dry compared to the same period last year16.98% affected by this, Q3 single-quarter power generation has been significantly reduced. During the reporting period, the fluctuations in operating income and power generation were basically the same. We judge that the average price of electricity has remained stable.Based on revenue / power generation forecasts, Q1, Q2, and Q3 average excluding tax electricity prices are 237.9, 238.9,236.8 yuan / MWh, plus 0 for ten years.8%, + 1%, -1%, the average electricity price in the first three quarters was basically flat twice.The company’s electricity price has remained stable as a whole, and it has not been significantly adversely affected by market-based transactions, adjustments to expansion rates, and changes in the outbound power market. Investment income may become a strong support for medium- and long-term performance and an important source of incremental profits. In the case of Q3 emissions close to 10%, the company still achieved only a small fluctuation in single-quarter results. In addition to the decline in operating costs, the investment income was largeZeng also contributed significantly.Absolutely, the company continues to increase investment efforts and deepen the equity bond relationship with strategic investment companies.Focusing on the development of the main hydropower industry and the cultivation of new businesses, the company increased its foreign investment by RMB7.92 billion in 18 years and the first half of 1919.Strategic investment in the equity of hydropower companies in the upper reaches of the Yangtze River, while obtaining investment returns, has also laid the foundation for the future implementation of joint optimization of river basin dispatch.Investment income may become a stable support for the company’s long-term performance and an important source of incremental profits. Profit forecast: Based on the latest power generation and financial report data, we adjusted our revenue and gross profit margin assumptions to adjust the attributable net profit forecast variable 228 for 19-21.1,233.3, 237.0 million yuan (228 before adjustment).7,234.3, 238.0 billion).Maintain the “overweight” rating. Risk warning: macroeconomic fluctuations, insufficient water supply in the river basin, investment returns are less than expected, and electricity prices are reduced
Mak Home (600337): Multi-brand direct franchise joins overseas wholesale growth
Incident March 27, 2019, Meike Household released the 2018 annual report. The company achieved operating income in 2018 of 52.61 ppm, an increase of 25 in ten years.88%; realized net profit attributable to shareholders of the listed company was 4.51 ppm, an increase of 23 in ten years.50%; net profit attributable to shareholders of listed companies in place of non-recurring gains and losses is 3.950,000 yuan, an increase of 18 in ten years.94%. By quarter, the company’s 2018Q1 / Q2 / Q3 / Q4 single quarter revenue was 10 respectively.14/15.12/14.80/12.55 ppm, an increase of 32 each year.69% / 46.27% / 30.19% / 0.83%; 2018Q1 / Q2 / Q3 / Q4 single-quarter net profit attributable to the mother is 0.63/1.43/1.31/1.14 ppm, an increase of 32 each year.75% / 36.77% / 23.08% / 6.86%. Our analysis and judgments show that the company’s direct operation is stable, the number of franchises has increased, and the wholesale channel has grown rapidly.61 ppm, an increase of 25 in ten years.88%.Among them, the retail end realized income 38.90 ppm, an increase of 15 in ten years.92%: Direct sales channels realized income 33.97 ppm, an increase of 10 in ten years.77%; revenue from franchising channels4.9.3 billion, an annual increase of 70.56%.Wholesale-side revenue 12.20 ppm, an increase of 62 in ten years.30%. Multi-level brand coverage and steady expansion of channels. The company currently operates a total of 15 brands, an increase of 35% in the number of brands in 2017.Seven domestic channel brands had a total of 323 stores at the end of 2018, a net increase of 78, and the channel continued to expand.Among them, Meikemeijia: 104 stores in 2018 (+11).One.R.T.: In 2018, there were 9 directly operated stores (+1) and 136 franchised stores (+33), covering 120 cities, with a total area of more than 120,000 square meters.One.R.T.Western District: In 2018, there were 5 directly-operated stores (+2) and 44 franchised stores (+30) in 40 cities, with a total area of approximately 1.60,000 square meters.At home Zest homepage: In March 2018, I opened at home Tmall store and the first smart door one after another, with online channel conversion customers reaching 20 million views, more than 200,000 fans, and customers covering 200 cities in 29 provinces. Overseas acquisitions to optimize the supply chain and improve the global layout The company completed a solid wood home furnishing manufacturer in Vietnam in March.S.T (invested $ 4.92 million, acquired 60% of the equity) and the acquisition of US sofa manufacturer Rowe Fine Furniture (invested $ 25 million, acquired 100% of the equity). In November, three Vietnamese home manufacturing companies SD, TC, and RC each increased their capital by 1,600., US $ 5,5 million to obtain 40% equity.The acquisition of overseas production capacity improves the company’s global layout and can effectively hedge trade friction risks. The profitability was basically 四川耍耍网 stable, and the consolidation led to the increase in profitability during the period. In 2018, the gross profit margin of Mak Home Sales was 52.16%, a decrease of 2 per year.02pct; net sales margin is 8.46%, a reduction of 0 per year.28 points.In terms of quarters, the company’s gross profit margin for the quarter of 2018Q1 / Q2 / Q3 / Q4 was 55.21% / 58.78% / 56.52% / 36.58%, a change of -2 from the same period last year.67/0.00/4.02 / -13.06 pct; net sales margin is 6.14% / 9.27% / 8.64% / 9.17% a year change -0.07 / -0.82 / -0.75/0.58 points. In terms of period expenses, the company’s selling expenses in 2018 were 15.76 ppm, an 18-year increase.72%, mainly due to the company’s increased marketing efforts, labor costs, advertising costs and other growth; sales costs increased by 29.95%, down by 1 every year.58 points.The 深圳spa会所 company management fee is 4.750,000 yuan, an increase of 38 in ten years.11%, mainly due to the expansion of the company’s business scale, Rowe, M.S.T.Caused by the scope of the company’s consolidated consolidated statements for the current year;03%, an annual increase of 0.80pct.Finance costs are zero.850,000 yuan, an increase of 38 over the same period last year.00%, mainly due to the increase in the size of working capital loans. Investment suggestion: The company’s multi-brand operations are steadily advancing, and its channels are continuously expanding. While continuously improving its own operational management efficiency, it also optimizes its product structure and increases digital precision marketing. Same-store growth continues to increase steadily, and the global supply chain is also constantly being optimized.We expect the company’s operating revenues to be 62-2019.1.6 billion and 72.23 ppm, an increase of 18 per year.15%, 16.21%; net profit attributable to mothers is 5.3.2 billion, 6.1.6 billion, an increase of 18 each year.02%, 15.85%, corresponding PE is 17 respectively.8x, 15.3x, maintain “Buy” rating. Risk factors: expansion of real estate sales; increased competition in the industry.
Hong Kong stocks US stocks adjust for a week
Which industries have resumed the epidemic?
Come to Sina University of Finance and listen to the opening column of the Trading Day Financial Morning Post.
Original title: Hong Kong stocks US stocks adjust for a week, emotionally adjust where A shares go. The week from February 17 to February 21, A shares investors continue to be excited, and transactions have exceeded the trillion mark for several consecutive days, driving the GEM stock market.The Shanghai Stock Exchange Index returned to more than 3,000 points after a new high. However, in the past week, US stocks have continued to adjust. The Hong Kong stock market, which is affected by both US stocks and A-shares, has also made repeated adjustments since the afternoon of the 17th.
The main person believes 夜来香体验网 that the A-shares involved by retail investors are out of the independent market, while the Hong Kong stock market is more involved by institutions and affected by more overseas markets. Because of the new coronavirus pneumonia epidemic (hereinafter referred to as the “outbreak”)Proliferation worldwide, so the adjustment of the overseas market layout remains, whether A shares can continue to be independent market is controversial.
Against the background of the overall adjustment of US stocks on Friday, important Chinese stocks such as Alibaba (BABA) and JD.com (JD) also experienced declines of more than 2.
With a 5% adjustment, Tesla (TSLA) grew 0 against the trend.
18%, Apple (AAPL) fell 2.
26%, the continued adjustment of the opening of Hong Kong stocks on Monday is almost sustainable, and the A-share related 深圳桑拿网 industry chain sector may also be disrupted on the opening of the market on Monday.
In fact, in the past week, A-shares have not experienced a general increase. Some of the core assets of foreign holdings, such as home appliances, liquor, and real estate, have only been relatively limited. Some of them have continued to be sideways. It seemsAn intermediate route was chosen between A shares and the outer disk.
Hu Yu, chief investment adviser of Hualin Securities, told the First Financial Reporter that the A-shares that started trading after the Spring Festival have been driven by the Tesla industry chain. Overall, the risks of the Tesla industry chain outweigh the opportunities.Look, the trillion-day trading volume generally cannot last for too long; shrinking, there is still room for adjustment in Hong Kong stocks, the Hang Seng Index may even have to test 25,000 points in the first half of the year, and the overvaluation bubble of U.S. stocks will burst at any time, and it will alsoAdjust the space.
Hu Yu believes that in the short term, from the perspective of internal factors, it is still necessary to evaluate the performance of high-evaluation companies such as technology concept stocks, science and technology boards and ChiNext. From the perspective of external factors, U.S. stocks need to peak.Impact on A shares.
Although the probability of a short-term market slump may be small, more than some industry indexes continue to rise, and the expectation that the growth of high-estimation sectors will eventually lead to a test of performance confirmation or falsification.
Wen Tianna, CEO of Broad Capital, told First Financial that the Hang Seng Index once fell below the 27,300-point mark on Friday. The Hong Kong stock market has formed relatively obvious selling pressure. Investors need to pay attention to the spread of the epidemic in the world and to the real economy.At present, foreign investors also have a certain wait-and-see attitude. The market is in an adjustment pattern, including large-cap stocks and technology stocks. Changes, transportation and aviation stocks are under pressure. Most Macau stocks have become entertainment venues and reopened.It is still in a wait-and-see state, and auto stocks have risen due to policy support and formed a bright spot.
As for the proportion of Hong Kong stocks, A shares have more retail investors participating in the market.
Fan Jituo, a strategy analyst at New Age Securities, believes that the current high probability of A-share GEM turnover is unsustainable, but the possible volatility will not be too large, but it is similar to 2013 to 2014.Period fluctuations.
On February 21, FTSE Russell (FTSE Russell) announced the quarterly adjustment results of its flagship index in February 2020.
This quarterly adjustment will increase the replacement factor of Chinese A shares from 15% to 25% as scheduled. The above changes can take effect before the opening on March 23, and the inflow of passive funds will be all before the closing on Friday, March 20.In place.
Hua Zhi Securities analyst Tan Zhiyong said that this is the first phase and third phase of the FTSE Russell A-share split arrangement, which is expected to increase passive funds by 28 billion yuan.
Top Group (601689) Quarterly Review： Excellent customer structure and continuous extension of product chain
Top Group (601689) Quarterly Review: Excellent customer structure and continuous extension of product chain
Matters: The company released the third quarter report of 2019: the first three quarters achieved operating income37.
700 million, a year -15.
5%; net profit attributable to mother 3.
400 million, -45 per year.
3%; budget benefit 0.
32 yuan, net assets 6.
Ping An’s point of view: The gross profit margin is slightly supplemented, and the R & D expense ratio remains high.
The first three quarters of 2019 achieved revenue of 37.
7 ‰, at least -15.
5% in the third quarter revenue 13.
3 ‰, at least -3.
9% in the third quarter, the passenger car industry wholesale sales growth of 6%.
Gross profit margin in the third quarter 苏州夜网论坛 was 26.
4% a year -1.
The five singles are mainly due to the decline in the industry’s prosperity and the decline in scale effects.
The third quarter sales expense ratio 8.
5%, increase by 0 every year.
5 units, of which the sales expense ratio increased slightly, and the R & D expense ratio was 6.
3%, increasing by 0 every year.
8 levels, continue to strengthen the layout of automotive electronics business.
High-quality customer structure and expected heavy volume of chassis business: The company’s major downstream customers are GM, Geely, SAIC and other high-quality brands, and the introduction of shock absorption and other advantageous products. Customers are expected to gradually expand to German, Japanese and open new growth space.
The lightweight chassis is equipped with BYD, Volvo, Tesla and other new energy products. With Tesla’s domestic production of its products, the supporting value and quantity of its bicycles are also expected to increase, expanding new sources of revenue.
The product line is expanding along the chassis, and the value of supporting bicycles is expected to continue to increase.
The company’s competitive products are shock absorbing parts + interior parts. Its future product line layout will extend to lightweight chassis, chassis electronics and other fields, increase the value of supporting bicycles, and realize import substitution in combination with advantageous independent brands.
The company has experienced high capital expenditure of 17-18 years, and the release of multi-capacity capacity will gradually enter the harvest period. According to the order production progress, the depreciation stalls will be strictly controlled for sale.
Earnings forecast and investment advice: Due to industry pressure and adjusted performance forecasts, it is expected that EPS for 2019-2021 will be 0.
66 yuan (expected 2019-2020 EPS forecast is 1 respectively.
The company benefits from deep domestic alternatives, overcomes the mature base layout of the country, and expands against the trend. It is expected to usher in 2020-2021 and maintain the “recommended” rating.
Risk reminders: 1) The passenger car market is weaker than expected, and the company ‘s downstream customers are selling less than expected, resulting in pressure on the company ‘s revenue side; 2) The raw material has risen more than expected, and the company ‘s upstream has been affected by the macro boom, trade war, and raw materialsThe company ‘s gross profit margin caused by excessive prices is under pressure. 3) The expansion of new products is less than expected. The company plans to reduce the weight of its chassis business.
Gongjin shares (603118) financial report comments： performance slightly exceeds expectations, profitability continues to increase
Gongjin shares (603118) financial report comments: performance slightly exceeds expectations, profitability continues to increase
Net profit maintained rapid growth, and the performance slightly exceeded market expectations. In the first three quarters of 2019, the company achieved revenue of 60.
38 ppm, an increase of ten years.
95%, net profit 天津夜网 attributable to mothers2.
660,000 yuan, an increase of 128 in ten years.
25%, net profit of non-attributed mothers2.
480,000 yuan, an increase of 133 in ten years.
00%, performance maintained rapid growth, performance slightly exceeded the market and our expectations.
In the third quarter alone, the company achieved revenue of 20.
50,000 yuan, the average of ten years is 13.
02%, basically unchanged from the previous month, and achieved a net profit of 0.
950,000 yuan, an increase of 58 in ten years.
33%, an increase of 11.
Gross profit margin, net profit margin increased steadily, and profitability continued to increase. The company achieved net profit growth and growth under the background of basically stable revenue.The improvement is obvious.
In terms of gross profit margin, the company’s comprehensive gross profit margin reached 15 in the first three quarters.
72%, an increase of 4 per year.
23pct; In terms of net interest rate, the company is relatively stable in terms of expense control, and its comprehensive net interest rate reached 4 in the first three quarters.
28%, an increase of 2 per year.
29pct, profitability continued to recover.
The operating cash flow has improved significantly. The first three quarters of the smooth progress of the Vietnam production line have seen significant improvements in the company’s cash flow. The net cash flow from operating activities was 6.
110,000 yuan, a sharp increase of 222 before.
Accounts receivable of the company 18.
With a sales volume of approximately 6.1 billion U.S. dollars, accounts receivable fell by 14%.
83%, sales receipts have improved.
The preliminary report reports that the company will increase capital in Vietnam’s subsidiaries to help it improve its production line as soon as possible.
We believe that when the Vietnam production line is put into production in the future, it will not only expand production capacity, but also further reduce the company’s manufacturing costs.
Investment suggestion: slightly raise earnings forecast and maintain “Buy” rating.
We are optimistic about the company’s advantages in the field of communication terminals and the layout of 5G small base stations, and slightly increase its profit forecast. It is estimated that the company’s operating income for 2019-2021 will be $ 8.5 / 90 / 9.5 billion, and the net profit attributable to the parent company will be 3.
32 megabytes, with a one-year growth rate of 厦门夜网 84% / 27% / 18%. The current corresponding PE is expected to be 28/22/18 times. Maintain the company’s “Buy” rating.
Risk warning: the competition in the field of broadband communication terminals is intensifying, and the risk of product price reduction; the impact of upstream raw material price increases on the company’s gross profit margin; the Sino-US trade war, the risk of imposing tariffs on company products, and the risk of foreign exchange gains and losses.
This type of person is best to wear slippers at home.
With a height of two or three centimeters, don’t choose a plastic sole to return home from the outside. I can’t wait to get rid of the shoes all day and put on a pair of loose and comfortable slippers.
However, for those who are 70 or 80 years old, loose slippers are likely to cause some accidents.
Why is this so?
This starts with the special design of the slippers.
Wang Kai, director of the rehabilitation department of Shanghai Jing’an Geriatric Hospital, said that the slippers are loose and the soles are generally longer than the soles of the feet. The old man wears them, and it is difficult to be as secure and heeled as the shoes tied to the feet.
In addition, the slippers are mostly flat and flat, so when wearing slippers, the soles of the feet must be pressed firmly against the soles to walk normally.
Moreover, flat shoes can increase the pressure on the feet, which can affect blood circulation or cause fatigue in the feet due to nervous tension.
If there is long-term compression and friction, it is also easy to cause skin damage, especially for people with diabetes and diabetes, it is difficult to cure after skin damage.
In order to disperse the pressure on the soles of the feet, it is best to choose a pair of slippers with a heel of 2-3 cm, or simply wear a pair of shoes, because the padded heel can relieve the pressure of the arch, which can protect the body.
When choosing slippers, the elderly should not be too loose or too tight.
The length is just as good as the plug, not too long.
The material of the sole should also be considered. The friction between the plastic and the ground is small and it is easy to slip, so it is best to choose the bottom of the cloth.
It should be noted that some elderly people with obesity or high blood pressure should choose a pair of shoes.
Tips for adolescent boys fighting “acne”
How to effectively remove acne in adolescent boys. Tips 1. Wash your face properly. Many people are afraid that washing their face will wash away the precious sebum film.
In fact, the oil on your face is constantly secreted, so you don’t have to worry about washing it away.
If you wash your face properly, you can remove excess oil and keep your skin smooth and clean.
My recommended washing method is: touch the nose, and you can wash it when it comes out. It doesn’t matter if you wash it ten to dozens of times a day.
But it should be simply washed, that is, after washing with cold water to make the skin moist, rub the face wash or soap on the palms and rub it into a foam, then gently wipe it to the place where acne or acne is likely to form.Rinse off quickly with cold water.
Remember not to massage your face excessively or wash your face with warm water. The choice of soap or facial cleanser is neutral and mild.
If you have peeled a little, you can reduce the number of times you wash your face.
This keeps you fresh and comfortable.
Of course, sometimes it ‘s not only on the face, but also on the chest and back. You can take a shower twice a day, and it will definitely improve with soap, but remember that the temperature of the water should not be too high because the temperature will stimulate the secretion of oil.
秘诀二、不要挤压青春痘 把青春痘里的脓汁或白色油脂颗粒挤出来，感觉上青春痘好像会消得比较快，但是此举却会造成一连串伤害，包括凹洞、黑斑、容易Blushing, blood vessels dilated to form bloodshot threads, and acne always appeared in the same place.
In fact, as long as you wait for two or three weeks for the pellets to dry and compact and fall out naturally during cleaning, you don’t have to worry about when it is best to squeeze, and it will not leave a scar.
Tip three, don’t steam your face. Young boys are prone to blushing, which means they tend to flush the whole face because of tension, stuffiness, and boredom.
Steaming the face and warming the skin will make this situation more obvious and accelerate the secretion of oil, which is more likely to form acne.
Tip 4. Appropriate toiletry products are usually dry around the eye sockets, so you do n’t even need to use cleansers when washing your face, just rinse with cold water.
After washing your face, apply some maintenance lotion near your eyelids.
However, in areas that are prone to acne, you should not even rub the lotion and keep it as dry as possible.
Therefore, the maintenance of the face is not the same everywhere, but it depends on the need.
Tip Five: Don’t bask in the sun. When acne grows too severe, it will leave pigmentation spots.
After exposure to the sun, the ultraviolet light will add the traces of dark pigment spots. As a result, the entire face looks either red or black, and the color is inconsistent everywhere.
With the increase of age, the probability of dark spots also greatly increases, and it is necessary to prevent sun. The sun protection method is still suitable with umbrellas, hats and various covers.
This is because sunscreen lotions and creams may promote acne.
Tip 6. Get enough sleep. If you do n’t sleep well, oil will be secreted more, so acne will grow more, and your face will be gray.
So don’t stay up all night, sleep is absolutely enough.
Tip 7. Relax your mood. Tension and irritability will also increase the secretion of oil, so unhappy mood is like falling into the rock. Acne will grow more.
Tip 8. Eat a balanced diet. Since there is no clear evidence that chocolate and peanuts will make you grow more pimples, why not enjoy some delicious food?
To make your skin bright, clean, and healthy, you need a variety of nutrients to help you. It is indispensable, and you don’t need to pay particular attention to certain things.
However, if you eat a diet that makes your face hot and red, such as hot peppers and hot soup, you still need to avoid it.
Tip 9. Use drugs to help you. In response to the needs of patients, there are many external medicines available on the market for treating acne swelling, most of which are safe and effective.
However, it is impossible to achieve immediate results, and it usually takes two to three months when used correctly.
When external medicine is used, it will become more serious in the early stage. Even the skin will be red and peeling due to the adaptive relationship, such as a topical ointment of vitamin A acid.Symptoms have also improved, and some topical medications work well, but they may be allergic, so if they become red and itchy after use, you should stop taking the medication first and consult your doctor with the medication.
秘诀十、请教医师 如果以上的建议你确实都做了，却依然无法改善，或者你对本文有不甚了解之处，或者你不敢随便买药来擦，或者你希望有人能依照你的皮肤Give you the right advice, then you should see a dermatologist.