2016赛季ATP首冠球员回顾:克耶高斯斩获三冠_1

2016赛季ATP首冠球员回顾:克耶高斯斩获三冠
­  今年斩获首冠的三位球员­  ATP官方今天带你回顾2016赛季收获处女冠的选手。­  克耶高斯-马赛­  本赛季,克耶高斯首次以世界前15的身份结束一个赛季。澳洲人在今年2月的马赛站上,连续战胜了伯蒂奇和加斯奎特两位世界前十,并最终在决赛中已6-2、7-6(3)战胜了西里奇,拿到了个人的首个巡回赛冠军。­  值得一提的是,克耶高斯在这周的比赛中没有丢掉任何一个发球局,展示了良好的经纪状态。值得一提的是,克耶高斯也成为了2009年德尔波特罗(战胜费德勒和纳达尔)之后,又一位在21岁以下在一项赛事中连胜两位世界前十的选手。­  在2016赛季的晚些时候,克耶高斯还分别拿到了东京和亚特兰大的两站赛事的冠军。此外,他还打进了ATP1000迈阿密站的决赛。­  施瓦茨曼-伊斯坦布尔­  在男单决赛中,来自阿根廷的施瓦茨曼在赢得冠军的路上,一路战胜了头号种子托米奇,在第二轮挽救赛点逆转了德祖赫,最终在决赛中苦战三盘6-7(5)、7-6(4)、6-0战胜了迪米特洛夫,拿下了生涯的首个冠军。­  在今年的晚些时候,施瓦茨曼还打进了安特惠普的决赛(输给了加斯奎特),并在成都公开赛上打进了八强。并最终把自己的世界排名提升到52位,刷新了自己的最高世界排名记录。­  约翰森-诺丁汉­  美国选手约翰森在来到诺丁汉之前,2016赛季的战绩为8胜15负。他在诺丁汉决赛中已7-6(5)、7-5战胜了奎瓦斯,赢得了生涯的首个冠军抬头。­  伺候,约翰森打进了温网的第四轮,并在华盛顿站的比赛中打进了半决赛,随后在辛辛那提站的比赛中,他晋级的路上战胜了世界前10的特松加,打进了最后的八强,并成功将自己的世界排名在8月刷新到21位。

Southern Black Sesame’s net profit gradually surpassed 40% last year, and 4 subsidiaries cut nearly 200 million yuan

Southern Black Sesame’s net profit gradually surpassed 40% last year, and 4 subsidiaries cut nearly 200 million yuan
On April 30, Southern Black Sesame released its 2019 financial report, showing that revenue last year reached 44.$ 76 trillion, an annual increase of 12.9%; net profit is 3384.650,000 yuan, at least 43 a year.51%; deduction of non-net profit is only 97.270,000 yuan, down by 97 every year.twenty one%.Sauna, Yewang noticed that in 2019, 4 out of the 5 main subsidiaries of Southern Black Sesame will be replaced by Guangnan Nanfang Black Sesame Food Co., Ltd. replacing 6782.080000 yuan, Yiwu Rungu Food Co., Ltd. replaced 2922.850,000 yuan, Jiangxi Xiaohei Xiaomi Food Co., Ltd. invested 2604.260,000 yuan, Chuzhou Nanfang Black Sesame Food Co., Ltd. replaced 7626.560,000 yuan.The only profitable major subsidiary was Shanghai Liduodu E-Commerce Co., Ltd. acquired by Ford, with a revenue of 22.1ppm, net profit is 9396.440,000 yuan, becoming the biggest source of profit for Southern Black Sesame.Southern Black Sesame said that the report benchmarks, the e-commerce industry as a whole maintained a relatively rapid growth, but the rise of new sales methods such as online communication, online celebrities and other goods, traditional e-commerce platform sales, agency services have been affected to a certain extentImpact.As for the business plan, Southern Black Sesame plans to realize tax-included operating income of USD 5 billion in 2020 and a net profit of 90 million.In response to the impact of the new coronary pneumonia epidemic, the company will actively seek effective response measures from the aspects of innovation in marketing methods and integration of operating resources on the basis of full-scale resumption of production at the end of March; increase e-commerce for new product development and resource tiltingSupport, focus on the development and innovation of e-commerce special products with Internet thinking and user thinking, create explosive products for e-commerce, realize the increase of e-commerce platform sales, and accelerate the implementation of e-commerce industrialization strategy.The first quarterly report for 2020 revealed on the same day showed that its first quarter revenue was 5.64ppm, an average of 40 years.68%; net profit is -2677.460,000 yuan, at least 454 a year.55%.Regarding performance changes, Southern Black Sesame explained that due to the impact of the New Coronary Pneumonia epidemic, the sales of commodities in the terminal market were severely affected, leading to a decline in operating income; the sales of raw materials and finished products in the logistics and terminal markets were severely affected, and production was basically suspended in the first quarterWork stop status.Sauna, Night Net Wang Ziyang editor Li Yan proofread Chen Diyan

[Dried Tangerine Bean Soup]_Dried Tangerine Bean Soup

銆 愰 檲 镄 Children’s castles and castles
闄堢毊鏄崡鏂瑰湴鍖虹壒鍒祦琛岀殑椋熸潗锛屽挨鍏舵槸鍦ㄥ箍涓滃湴鍖轰汉浠皢闄堢毊浣滀负鏈€瀹濊吹鐨勮皟鏂欙紝鐢氳嚦鍑虹幇涓€鍏嬮檲鐨€煎崈閲戠殑鐜拌薄銆傝€岄檲鐨箣鎵€浠ュ彈娆㈣繋涓庡叾鑷韩缇庡懗鍜岀殑钀ュ吇浠峰€奸珮鏄垎涓嶅紑鐨勶紝浜轰滑甯稿父灏嗛檲鐨姞鍏ュ埌鍚勭鑿滆偞涓彁鍗囪彍鍝佺殑鍙e懗锛屼緥濡傞檲鐨孩璞嗘堡灏辨槸涓€绉嶇粡鍏哥殑鑿滆偞锛屼笅闈㈠氨鏉ョ湅鐪嬭瑙e惂銆?鍋氭硶涓€锛?.Sorry, it’s a shame to say: what’s going on?.閿呬腑娣婚€傞噺娓呮按鐑ф哺锛屾斁鍏ョ孩璞嗐€侀檲鐨紝涓伀鐓?What are you talking about?.How to protect the child, the child, the child, and the monkey?.How can I pay for my money? I want to pay for it. I want to press it for a while. I am afraid that you will be able to take care of it. Feeding: What if you want to go?閭 氭 硶 浜 岋 细 1.What is the difference between arrogance and arrogance?.闄 堢 滊 绾 ㈣ 圴 娌?鎻愬墠涓€鏅氫笂娉″紑3.Click on the button to click on the button 4. Click on the button below.What is the difference between the chain and the chain?.What’s the difference? What’s the difference?.鐒跺悗缁х画鐓紝澶ф涓€涓皬鏃朵箣鍚庤眴瀛愬嚭璞嗘矙锛屾牴鎹嚜宸辩殑鍙e懗娣诲姞鍐扮硸锛屾斁鍑夋洿缇庡懗鍝?The pot is thin 1.绾㈣眴灏忓崐纰楋紝娉℃按2灏忔椂浠ヤ笂锛屾垨鑰呰繃澶溿€?.闄堢毊鐢ㄦ竻姘存场杞緦锛屾礂鍑€澶栫毊锛屽苟鐢ㄥ皬鍒€杞昏交鍒幓鍐呭眰鐨勭櫧鑶滐紝鍒囨垚缁嗕笣銆?.鍑嗗涓€鍙e皬閿咃紝娣诲ぇ鍗婇攨姘达紝姘村紑寰屽姞鍏ユ场杩囩殑绾㈣眴鍜屽鐞嗚繃鐨勯檲鐨€?.姘村紑寰岃浆灏忕伀锛屽緟姘寸啲鍓╀竴鍗婃椂锛屽啀娣诲喎姘村叆閿呫€?.灏忕伀鐔笂2灏忔椂浠ヤ笂锛屾湡闂磋娉ㄦ剰鎼呭姩锛屼笉瑕佺硦浜嗛攨搴曘€傝嫢姘村皯鍙户缁坊鍔犲喎姘淬€?。瑙佺孩璞嗗凡缁忕叜寮€鑺便€佽捣娌欏緦鍔犲叆鍐扮硸銆?.鐪嬪埌绾㈣眴宸茬粡鐓嚦瀹屽叏寮€鑺辫捣娌欙紝姹ゆ眮鍙樻祿绋犱箣寰岋紝鍗冲彲鍏崇伀銆?

[How to make fungus noodle soup]_Home-made method of fungus noodle soup_How to make fungus noodle soup_How to make fungus noodle soup

[How to make fungus noodle soup]_Home-made method of fungus noodle soup_How to make fungus noodle soup_How to make fungus noodle soup

The eleventh holiday has entered the countdown phase. You, who have been sealed for a long time, must have planned to go out and play.

When you go out and play, you must have tasted the local cuisine.

But if you are not convinced, it will be very uncomfortable.

Therefore, you’d better take it out at home.

Now, let me introduce you to the practice of fungus noodles.

1.

Watercress sauce.

cucumber.

Black Fungus.

Meat spare.

2.

Put the fungus.

Shred cucumbers, diced pork, and a few pieces of fatty meat.

3.

Put oil in the pan.

4.

Add fatty meat and fry it out (flavor it, don’t use it).

5,

Drain the onion.

Stir fry red peppers.

6.

Then add the diced pork and stir fry.

7.

Add watercress.

8.

Add water while frying.

Chicken essence, stir fry for 2 minutes, fully stir up the flavor of the sauce, just fine.

9.

The sauce is ready.

10.

Put water in the pot, boil the noodles and boil for 5 minutes.

11.

Remove the noodles and place the cucumbers on top.

Fungus wire.

Sour radish.

12

Add 2 scoops of fried meat sauce, and the fragrant fried sauce noodles are just fine.

Many housewives are worried about what to eat today. You do n’t need to worry about today. It seems that Xiaobian ‘s introduction today, quickly put this newly learned agaric meat sauce noodles on the table!

[How many cherries are suitable at one time]_ diet conditioning _ eating taboos

[How many cherries are suitable at one time]_ diet conditioning _ eating taboos

Fruit always gives us a feeling of plenty of moisture, and it seems that appetite will be good.

Among the fruits, cherries are relatively expensive fruits, and many cherries are imported, which can be said to be foreign fruits.

The cherries are not big. Although they are small, they are very round, the surface is very smooth, and they look full.

Eating fruit also requires moderation. How much is appropriate for cherry?

Although cherries are a kind of fruit with high nutritional value, according to Chinese medicine, cherries are hot foods. It is easy to get angry if you eat too much. Generally, it is better to eat about 10 at a time.

Of course, this has a lot to do with personal fitness.

Some people do n’t even have to eat cherries in pans, while others may have gastrointestinal symptoms such as abdominal distension and abdominal discomfort.

Of course, as long as you master the amount, you can still enjoy the delicious cherry.

Cherry is a general name for some prunus plants, including subgenus cherry, subgenus sour cherry, subgenus osmanthus and so on.

Arbor, 2-6 meters high, bark gray.

Branchlets gray-brown, twigs green, glabrous or sparsely pilose.

Winter buds ovate, glabrous.

The fruit can be eaten as a fruit, with bright appearance, crystal clear beauty, red like agate, yellow like curd, fruit is rich in sugar, protein, vitamins and calcium, iron, phosphorus, potassium and other elements.

Cherries in the world are mainly distributed in the United States, Canada, Chile, Australia, Europe and other places. The main producing areas of China are Heilongjiang, Jilin, Liaoning, Shandong, Anhui, Jiangsu, Zhejiang, Henan, Gansu, Shaanxi, and Sichuan.

Cherries are fruit trees that love light, temperature, humidity, and fat, and are suitable for growing under the climatic conditions of an average annual temperature of 10-12 ° C, an annual cumulative amount of 600-700mm, and annual sunshine hours of 2600-2800h.

The time when the average daily temperature is higher than 10 ℃ is 150-200d, and the place where the extreme minimum temperature in winter is not lower than -20 ℃ can grow well, and the result is normal.

If there is local frost damage, the cherry orchard alternates slowly on the northwest slope where the temperature rises slowly in spring and the air is flowing.

Value performance: sweet, sour, slightly lukewarm.

Can benefit the spleen and stomach, nourish liver and kidney, astringent essence, and relieve diarrhea.

Contains sugar, citric acid, tartaric acid, carotene, vitamin C, iron, calcium, phosphorus, etc.

Uses: For weak spleen and stomach, eat less diarrhea, or spleen and stomach yin injury, dry mouth and tongue; insufficient liver and kidney, weak waist and knee, weak limbs, or nocturnal emission;Plays a fade effect.

Usage: Raw food, decoction, soaked in wine or honey stain.

[How to make wine at home]_How to make_How to make

[How to make wine at home]_How to make_How to make

The degree of wine is not very large, drinking a little is good for health, and drinking wine is a very romantic thing.
The love of wine has made many people learn how to taste, and even try to make it yourself.
The method of making wine is not difficult, the key is to master the method.
So how do you make wine at home?
The grapes bought on the market are fresh grapes, the water content is too high, the sugar content is not high, and the tannin content is low. It can produce alcoholic drinks.Wine grapes are brewed into wine by scientific methods without sugar.
Since it is a beginner’s tutorial, and new brewers like to live with fresh grapes, let’s take fresh grapes now.
The reason why the grapes bought from the market ca n’t be used for wine making without washing is simple-pesticides, no one wants to make a glass of pesticides to drink.
At the same time, also talk about wine grapes, the production market that wine grapes face. The characteristics of this market determine that the purchasers are more professional, with higher requirements and clear detection methods. Therefore, professional wine grape bases will use environmentally friendly and nationally required food QS.In addition, the first half of the picking period stopped the application of drugs and added the upper limit to make the grapes meet the requirements for producing high-quality wine.
That’s all for the content. Next, I will talk about tools and equipment.
Because it is a tutorial for newcomers, Xiaobian simply simplifies it because it can be replaced. I can’t find a way to solve it, and try not to put a financial burden on the family as much as possible, unless you have to buy it.
1 fermentation bottle.
Glass, stainless steel, better plastic, etc.) 2 Stir things.
Plastic rice scoops, wooden sticks, chopsticks, bamboo sticks, etc.) 3 Yeast (Angie’s Wine Yeast, or French Wine Yeast) 4 Grapes (Every means can be obtained by field harvesting, etc.) 5 White sugar, rock sugar.
6 tubes (better plastic, silicone, etc.) 7 filter cloths (gauze, filter cloth, rags, etc.) do not wash, now that the tools and equipment accessories are “Europe now enter the topic: buy grapes back.”
How to wash, everyone will do it according to their own ideas.
Anyway, the wine you want to drink yourself will introduce a more feasible method here: first soak in water and buy the grapes.
Take a longer time to soak out the pesticides remaining on the grape skin. After changing the water, add an appropriate amount of starch, then stir, and then rinse with water. The grapes can be washed clean and air-dried after drying.The wind blows dry.
Then use your washed hands to crush the grapes, if you make white wine.
Canned with skin and seeds.
For a larger amount, use your feet, the washboard, and lying on top to roll and roll?
As long as it can be broken, but not completely messed up.
Here you should pay attention to the reason why seeds should not be broken-since it is a beginner novice, I will not make it too cumbersome, just remember that seeds should not be broken.
The craft is to use a crusher. The conservative French method is to hire a pretty young girl to climb into the barrel of grapes and smash the grapes with their feet.
It is also useful to use a juicer to extract grape juice. For those who only ferment grape juice, white grapes must be quickly squeezed out of the grape juice to prevent the skin and seeds from immersing in the grape juice and making the color red.
Here is a brief summary of adding yeast,

Daya Icon (000910): Stabilizing performance and focusing on improving governance

Daya Icon (000910): Stabilizing performance and focusing on improving governance

Investment Highlights Event 1: Daya Elephant Announces 2018 Annual Report, and the company achieved revenue of 72 in 2018.

61 ppm, a 10-year increase3.

02%; net profit attributable to mother 7.

25 ppm, an increase of 9 in ten years.

95%; net profit deducted from non-attributed mothers7.

110,000 yuan, an increase of 10 in ten years.

15%.

Net cash flow 南宁桑拿 from operating activities 10.

30,000 yuan, a decrease of 15 a year.

63% was mainly due to the increase in cash paid for purchasing goods and receiving labor services.

Construction in progress 0.

1.5 billion, a decrease of 91 every year.

94%, mainly because Daya Wood Industry (Jiangsu) Co., Ltd. has an annual output of 500,000 cubic meters of particleboard production line put into operation, and construction in progress is converted into fixed assets.

In the fourth quarter alone, the company realized revenue of 21.

51 ppm, a decrease of 3 per year.

08%; net profit attributable to mother 2.

8.3 billion, down 4 each year.

46%; net profit after deducting non-return to mother 2.

77 ppm, a decrease of 4 per year.

60%.

  Event 2: Daya Icon published the first quarter report of 2019, and the company achieved revenue of 14 in Q1 2019.

13 ppm, an increase of 1 per year.

08%; net profit attributable to mother is 0.

63 ppm, an increase of 9 per year.

69%; net profit deducted from non-attribution to 0.

61 ppm, an increase of 9 in ten years.

65%; receivables 9.

14 ppm, an increase of 11 per year.

86%.

  The growth rate stabilized in the first quarter, and the bulk business drove steady growth in the main business.

1) The core main business has stable revenue and pays attention to the development of engineering business.

The company continues to promote the development of engineering business. It has established strategic cooperation relationships with more than 70 real estate developers such as Vanke, Poly, and China Shipping. In 18 years, the engineering business expanded at a high speed, so the sales of engineering flooring increased by over 40%.

Revenue of the company’s mid- to high-density board business in 201819.

15 ppm, an increase of 9 in ten years.

14%; revenue from wooden flooring business was 50%.

47 ppm, a ten-year increase2.

34%; wooden door and cloakroom business revenue was 0.

0.8 billion, an annual increase of 1.83%.

2) The domestic market has grown steadily and the scale of export has shrunk.

In 2018, the company’s domestic market revenue was 62.

23 ppm, a five-year increase of 5.

92%; overseas market revenue 9.

54 ppm, a decrease of 11 per year.

20%.

  Rising gross profit margin repaired, the gross profit margin of domestic and foreign markets rose.

The company achieved a gross profit margin of 34 in Q1 2019.

65% (+0.

62pct), the company achieved a gross profit margin of 36 in 2018.

42% (+0.

88pct).

1) The overall gross profit margin level is stable.

Medium and high density board business gross margin 22.

76% (+1.

48 points.

); Gross profit margin of wood flooring business 41.

95% (+0.

71points

); Wooden door and cloakroom business gross profit margin 25.

45% (+7.

90 marks.

).
2) The gross profit margin of foreign markets is obviously repaired.

Gross domestic market margin 38.

78% (+0.

19 points.

); Overseas market gross profit margin 18.

44% (+1.

22 points.

).
  Management expenses were raised in advance and profitability was basically flat.

The company’s 2019Q1 net profit is 4.

25% (-0.

04pct), 2018 net profit margin 10.

53% (+0.

07 points.

).
The company has an expense ratio of 28 during the 2019Q1 / 2018 period.
53% (+0.
47 points) / 23.

86% (+0.

41pct), of which the selling expense ratio is 16.

60% (+0.

24 points) / 13.

19% (-0.

27 points); management expense ratio 11.

41% (+0.

56 points) / 10.

57% (+1.

38pct), financial expense ratio is 0.

53% (-0.

32pct) / 0.

09% (-0.

71pct), mainly due to the increase in R & D expenditure and the decrease in index expenditure.

  Fair progress has been made, which is beneficial to the improvement of corporate governance structure.

On October 18th, Ms. Dai Pinhe, the actual controller of Daya’s iconostasis, invested in Yibo Rui Te / Zhuo Rui 31 held by her.

525% / 54.

5% of the equity was transferred to Mr. Chen Jianjun.

After the completion of the equity transfer, the controlling shareholder and actual controller of Daya Shengxiang remain unchanged.

We believe that the current transfer of distribution between actual controllers is conducive to enhancing Mr. Chen Jianjun’s right to speak in the governance of listed companies and optimizing the company’s internal governance capabilities.

At the same time, the two-way incentive plan implemented by Daya Shengxiang in 2016 and 2017 covers the headquarters and subsidiaries’ executives and front-line business personnel, which is beneficial to reducing the company’s internal agency costs.

  Product, scale, and brand advantages are significant, leading mergers are solid.

1) Capacity: The company currently has a capacity of 1.85 million cubic meters per year for medium- and high-density board and particleboard, and a floor capacity of 53 million square meters per year. It has leading advantages in scale production and market competitiveness.

2) Brand side: Daya Shengxiang has nearly 3,000 floor license stores with unified authorization and unified image, and also develops online Tmall, JD.com and Suning distribution franchise stores.

In 2018, the “Icon” brand value was 415.

62 ppm, the brand value of Daya Wood-based Panels is 125.

US $ 8.6 billion, ranking first in China’s home furnishing industry and wood-based panel industry respectively. The company reported that it launched the newly upgraded “Shangxiang” brand image logo for the first time to further strengthen its brand power.

  Investment suggestion: The company’s internal control efficiency is expected to improve, and the long-term benefits of hardcover housing policy will be implemented, and the performance will continue to grow steadily.

We predict that the company will achieve 77 revenue in 2019-21.

81, 82.

96, 88.

60 ppm, a ten-year increase of 7.

16%, 6.

62%, 6.

80%, realizing net profit attributable to mother 8.

18, 9.

02, 9.

93 ppm, an increase of 12 in ten years.
93%, 10.
21%, 10.

04%, the corresponding EPS is 1.

48, 1.

63, 1.

79 yuan, “overweight” grade.

  Risk reminder: the real estate boom will increase the risk and the price of raw materials will rise.

China Life (601628): 2018 results bottomed out, 2019 China Life starts again

China Life (601628): 2018 results bottomed out, 2019 China Life starts again

Event: On March 28, 2019, China Life announced its 2018 annual results, and its net profit attributable to its mother 无锡夜网was 11.4 billion, of which -64.

7%, new business value 49.5 billion, ten years -17.

6%, with an internal value of 795.1 billion yuan, +8 throughout the year.

3%, the remaining margin of 684.1 billion, +12 in ten years.

5%.

  Key points of investment: The decline in the value of new business has increased and narrowed, and the embedded value and residual margin have grown steadily: the value of long-term new business is 49.5 billion, to -17.

6%, -23 from the first half.

The 7% narrowed 6pct, and the continuity of gradual negative growth was a sharp decline in ten-year business, which was 41.6 billion in the ten-year period in 2018, a year-on-year decrease of 36.

9%, of which 36.7 billion ten-year period, a year-on-year decrease of 37.

5%, leading to a significant decline in personal insurance NBV19.

4%.

Despite the negative growth of NBV, its absolute value contribution still promotes the growth of embedded value8.

3% to $ 755.1 billion, with a remaining margin increase of 12.

5% to 684.1 billion.

  Business structure and team quality have improved: In 2018, China Life drastically reduced bank and insurance transactions, resulting in a premium payment of only 11.4 billion, a year-on-year decrease of 82.

1%, 90% of the new long-term insurance orders are due, and the annual increase is 26.

2pct, 68% of renewal premiums.

1%, an increase of 11 per year.

8 points.

In terms of sales team, the total manpower at the end of the period was 177.

20,000, down 12 every year.

5% of which 143.

90,000, down 8.

8%, bancassurance fell 27.

7%.

Although the size of the team has decreased, the quality has improved, and the effective manpower has increased in each month.

The annual average long-term insurance performance manpower of bancassurance increased by 34%.

5%, a significant increase in the proportion of scale manpower.

  The adverse effect on the investment side is stronger than the reserve release effect, and the profit has dropped significantly: the total investment assets at the end of the period.

11 trillion, previously +12.

7%, of which solid income accounted for 77.

6% for one year.

5pct, equity ratio 13.

7%, one year -1.

2pct.

Affected by the decline in fund dividends and the sharp decline in the stock market, the total investment yield / comprehensive investment yield was 3 respectively.

28% / 3.

10%, respectively, each year.88/1.

47 points.

In 2018, it is assumed that the change will increase the profit before tax by 3.1 billion. In the same period of last year, the profit before tax will be reduced by 90 billion. It is assumed that the change has a positive impact on profit growth.Down 64.
北京spa会所

7%, the comprehensive income of return to mother is 9.3 billion, a year-on-year decrease of 61.

7%.

  Profit forecast and investment advice: Under the assumption of 5% return on investment, the EPS for 2019-2021 is predicted to be 1.

25/1.

45/1.

65 yuan, corresponding to 21 for PE.

65/18.

65/16.

40 times, EVPS is 31.

70/34.

98/38.

59 yuan, the corresponding PEV is 0.

85/0.

77/0.

70 times, giving a double PEV estimate for 2019 with a target price of 31.

70 yuan, maintaining the “overweight” level.

  Risk factors: A sharp decline in sales manpower, a sharp decline in the equity market, and systemic risk.

China Merchants Shekou (001979): FY18 performance meets expected sales, steadily expanding

China Merchants Shekou (001979): FY18 performance meets expected sales, steadily expanding

FY 2018 1.

89 yuan, an increase of 18% for the year, in line with the expected FY18 results announced by China Merchants Shekou: operating income of US $ 88.3 billion, an increase of more than 16%; net profit attributable to mothers is US $ 15.2 billion, which is close to the upper limit of performance forecast (US $ 15.5 billion), exceeding the growth of 20%, Corresponding to the corresponding profit 1.

89 yuan (after deducting perpetual debt interest caliber, the same itself).

杭州桑拿网 The carry-over increased by nearly 20%, and the profit margin increased slightly.

The company’s consolidated carry-over budget has increased by 17% annually to US $ 80.8 billion, driving operating income to increase by 16% annually to US $ 88.3 billion.

After-tax gross margin increased by 1 from 2017.

1 up to 30%, the net profit rate attributable to mother increased by 0.

6 averages to 17%.

The financial side remains robust with a high margin of safety.

The company’s ending net debt ratio (including perpetual bonds) fell 11 points to 51% from the beginning of the period; cash on hand was $ 67.4 billion, covering 1 of interest-bearing debts due within one year1.

8 times.

The cost of preliminary comprehensive funds rose by 0.

05 averages to 4.

85%, still low in the industry.

The company recently 无锡桑拿网 successfully issued 15 billion exchangeable bonds (23 in advance of conversion.

70 yuan), the working capital was further supplemented.

Maintaining a high dividend payout ratio, share repurchases demonstrate confidence.

The company is divided into 0 dividends in 2018.

78 yuan, the proportion of dividends reached 40%, continuing the high level of the past two years.

The company recently announced 20?
The US $ 4 billion share repurchase plan has gradually repurchased 60.97 million shares by the end of February, accounting for 0 of the total share capital.

77%.

Development Trend The sales target for 2019 is 2000 trillion, corresponding to a growth rate of 17%.

In January-February, the company achieved a contracted amount of 201 million / 960,000 square meters, an annual increase of 6% / 11%.

The company plans to achieve a maximum sales target of 2000 trillion, corresponding to a growth rate of 17%. It is expected that this target can be easily achieved with the support of over 300 billion US dollars of saleable value.

The beginning of the year tended to be cautious and gradually started to maintain stability.

In January-February, the company added 330,000 square meters of soil storage construction area (3.23 million square meters in the same period in 2018).

The company plans to achieve a new construction area of 11 million square meters in 2019, corresponding to a multi-year growth rate of 2%.

The value of resources in Qianhai area accelerated to materialize.

In December 2018, the company’s Qianhai area land preparation plan was launched, and the development of 500 universal high-quality resources in the area accelerated.

We estimate that the corresponding value of the land held by the company in the region exceeds US $ 220 billion, which can increase the company’s NAV by US $ 47.4 billion, which will provide strong support for the company’s future performance growth.

Earnings forecast We maintain our 2019/2020 earnings forecast2.

20/2.

54 yuan unchanged.

Estimates and recommendations The company is currently trading at 10.

1/8.

7x 2019 / 2020e price-earnings ratio, maintaining recommended level and target price of 26.

35 yuan, the target price corresponds to 12.
0/10.
4x 2019 / 2020e target P / E ratio and 18% upside.

Risks The land development progress in the Qianhai area was worse than expected; the lifting of the ban on restricted stocks suppressed progress.

Five Taboos of Alzheimer’s

Five Taboos of Alzheimer’s

When the elderly suffer from dementia, the family and the patient must cooperate with each other. In life, emotion, and material, give the elderly more care and love!

Let’s talk about some things that need attention in patients with dementia!

  1.Avoid mental stimulation, moodiness, panic, etc.

  When people reach old age, qi and blood are deficient, camps and guards are not adjusted, and the functions of the internal organs gradually increase. For example, in the process of natural aging, external psychic stimuli may lead to senile dementia.

The elderly should adopt a positive attitude, be optimistic, happy, magnanimous, and love life to prevent the decline of intelligence. At the same time, they should maintain contact with the surrounding environment and the crowd to delay the mental aging process.

  2.Avoid diseases that damage brain cells.

  Diseases such as encephalitis, traumatic trauma, cerebrovascular disease, chronic poisoning, and endocrine disorders are all causes of senile dementia.

And avoid long-term use of drugs such as blood pressure lowering, sedatives and stabilizers, subdivided types of drugs to interfere with brain function, and accelerate the development of the disease.

  3.Avoid insufficient nutritional intake or vitamin deficiencies, avoid drinking and smoking.

  Alzheimer’s and diet are easily related. Studies have found that high-quality protein foods such as milk, eggs, fish, meat, animal livers can enhance brain function. A large number of vegetables, fruits and soy products can supplement vitamins B, C, EPrevent mental retardation caused by insufficient nutrition.

Smoking narrows the small arteries in the body and worsens the condition, so the elderly should quit smoking and alcohol.

  4.

Avoid lack of proper physical activity and mental work.

  Surveys show that long-lived elderly people adhere to a certain amount of physical and mental activities. This long-lasting and moderate amount of activities can not only promote blood circulation and metabolism, but also strengthen the activities of the nervous system and improve the ability to regulate, which is conducive to preventing or delaying mental decline.
  5.Avoid unattended patients.

  Due to the development of the patient’s condition, there will be some self-injury, injury, destruction, arson, etc. Therefore, special care should be taken to prevent accidents.

  Once the elderly suffer from Alzheimer’s, it will be more troublesome, but their families must also do the work of the elderly, care for them in life, and somebody must take care of the elderly!

So as not to cause undesirable phenomena.