Category: 新闻

[Can taro be eaten on an empty stomach?】 _Empty belly_Can I eat

[Can taro be eaten on an empty stomach?】 _Empty belly_Can I eat

銆愯妺澶磋兘绌鸿吂鍚冨悧锛熴€慱绌鸿倸_鍙互鍚冨悧
鑺嬪ご鏄惀鍏讳环鍊煎緢楂樼殑涓€绉嶉鐗╋紝涓€鑸汉閮藉彲浠ユ斁蹇冨悆锛屽悆璧锋潵鍛抽亾闈炲父濂In the meantime, I want to go to the village and go to the village to go to the end of the world. I will go to the end of the world. The chain will go to the world, and the world will go up and down.Relieve the phobia threshold Thresholds and sorrows and sorrows and sorrows and sorrows and sorrows and sorrows and sorrows璁稿闇€瑕佹敞鎰忕殑浜嬮」锛屽洜涓哄悆鑺嬪ご鐨勬椂鍊欏緢澶氫汉浼氬嚭涓€杩囨晱鐨勭幇璞★紝鎵€浠ヨ妺澶磋繕鏄笉瑕佸悆澶氫簡锛屾棭涓婅捣鏉ョ┖鑵瑰悆鐐硅妺澶翠篃鏄笉閿欑殑閫夋嫨锛岃嚦浜庣敓瀹屽瀛愯繕鍦ㄦ湀瀛愰噷鐨勪骇濡囧摵涔虫湡鑳戒笉鑳藉悆鑺嬪ご浠庢枃绔犱腑鍘诲涔犵煡閬撱€傝妺澶磋兘绌鸿吂鍚冨悧鍙兘鏈変簺浜烘瘡澶╂棭涓婇兘鍦ㄨ€冭檻瑕佸悆浠€涔堬紝鏈夌殑浜烘瘡澶╄眴娴嗗姞闈㈠寘鎴栬€呮槸娌规潯锛屾椂闂撮暱浜嗛兘鏈変簺鍘屽€︿簡锛屽氨浼氭兂瑕佸悆涓€浜涘叾浠栫殑椋熺墿锛屽彲鑳芥湁鐨勬椂鍊欎細鐔播鍠濓紝鏈夌殑浜虹敋鑷虫槸鏃╀笂灏卞悆鐐规按鏋滐紝杩樻湁涓€閮ㄥ垎浜烘槸镊繁锽沧钖冧粈涔聚碳酸酯氨镞╀笂钖冿纴鍏跺疄寰宇椋熺墿鏄笉阃效椋熺墿鏄笉阃罐瑰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? What are you talking about?銆佸彲浠ョ┖鑵瑰悆鑺嬪ご鍙互鍦ㄦ棭涓婄殑鏃跺€欏悆锛屽洜涓鸿妺澶存€у钩鍛崇敇锛岃€屼笖鑺嬪ご鏈韩灏辨槸涓€绉嶇矖绮紝绮楃伯涓€鑸潵璇撮兘鏄彲浠ョ┖鑵归鐢ㄧ殑锛屾墍浠ヨ妺澶翠篃鍙互绌鸿吂鍚冦€傛棭涓婂簲璇ュ鍚冧竴浜涙湁钀ュ吇鐨勯鐗╋紝鑰岃妺澶寸殑钀ュ吇纭疄涓板瘜锛屽悆浜嗗ソ澶勪篃Global  ?澶村彲浠ヤ腑鍜屼綋鍐呯殑閰告€х墿璐紝鎵€浠ユ棭涓婂彲浠ュ悆鑺嬪ご銆?銆佷絾鏄灏戝悆铏界劧鑺嬪ご鍙互绌鸿吂鍚冿紝浣嗘槸瑕佸皯鍚冿紝鏈€濂芥槸鏃╀笂鍚冭妺澶寸殑鏃跺€欏彲浠ユ惌閰嶄竴浜涘叾浠栫殑椋熺墿锛屽崟鐙悆鑺嬪ご鍚冨浜嗕細鑳€姘旓紝寰堝鏄撳奖鍝嶅埌浜轰竴涓婂崍鐨勫伐浣溿€傚皯閲忓悆鑳藉杩涢娆诧紝澶ч噺鍚冪殑璇濆彲鑳戒細娑堝寲涓嶈壇锛屾墍浠ヤ竴瀹氳娉ㄦ 尰 駾 播 咭 婂 囋 揃 彃 堲 浠 ラ 雖 堢 潃 綃 Qi ヤ 竴 Bifeng 揆  渶 渂 濂 殆 銆?銆佹俯棣ㄥ皬鎻愰啋鑺嬪ご姣旇緝闅剧啛锛屾墍浠ュ彲鑳芥棭涓婅鍚冮渶瑕佽捣鏃╂彁鍓嶅紕锛岃€屼笖鑺嬪ご鍘荤毊涔熸瘮杈冮夯鐑︼紝鏈€灏戣鎻愬墠鍗婁釜灏忔椂鐓彍浼氱叜鐑傘€傛湁浜哄彲鑳戒細鍏堥偅灏卞墠涓€澶╃叜鐫€绗簩澶╁悆锛屼笉寤鸿杩欐牱鍋氾紝杩欐牱钀ュ吇涔熸祦澶变簡锛岃€屼笖寰堝鏄撲骇鐢熸湁瀹崇墿璐紝鎵€浠ヨ鏃╀笂鍚冪殑璇濆彧鑳芥棭璧蜂簡銆?

[Can pregnant women eat small cantaloupe]_small cantaloupe_pregnancy_benefit

[Can pregnant women eat small cantaloupe]_small cantaloupe_pregnancy_benefit

[Can pregnant women eat small cantaloupe]_small cantaloupe_pregnancy_benefit

Of course, small melon is a fruit that many people prefer to eat. The flesh taste is cold and non-toxic, and it has a good heat-clearing and diuretic effect. Pregnant women can eat melon, and it can also be used to relieve heat and relieve heat and quench thirst. It can effectively supplement the human body.The nutrients you need.

First, can pregnant women eat melon.

It is good for pregnant women to eat fruit, but eat it in moderation.

Melon pulp, sweet, cold and non-toxic, clearing heat and diuretic, quenching thirst, can cure heat, fever, heat stroke, thirst, unfavorable urination, sore nose and nose.

Cantaloupe can be eaten all year round and is a popular melon fruit.

Second, the benefits of eating melon in pregnant women1.

Melon contains a lot of carbohydrates and citric acid, etc., and has plenty of water, which can relieve heat and refresh heat, refreshing and quenching thirst, and removing annoyance; 2.

2. Invertase in cantaloupe can convert insoluble protein into soluble protein, which can help kidney patients absorb nutrients; 3.

Cucurbitin B in cantaloupe can protect the liver and reduce chronic liver damage; 4.

Modern research has found that melon seeds have the function of killing tapeworms and filamentous worms; 5.

Muskmelon is rich in nutrition and can supplement the energy and nutrients needed by the human body.

Third, pregnant women eat muskmelon food phase 1, muskmelon can not eat with bitter gourd and watermelon, frail people will have diarrhea.

2. Cantaloupe can’t be eaten with cold summer drink, because it is also cold food. If you eat it, it is bad for the body and the frail person will have diarrhea.

3, melon should not be eaten with Dabu medicinal diet or one after the other, it will affect the efficacy of medicated diet.

4, Melon is not suitable to eat with durian, each other, grams, eat together can not achieve their respective effects.

5. Cantaloupe can’t be eaten with Coptis chinensis or drugs with the same effect. Serious diarrhea will occur if you eat it.

6, muskmelon should not be eaten with Tianluo, crab and other seafood.

7, Melon should not eat with greasy food.

[Garlic Orleans Grilled Pork Ribs]_Homemade Practice of Garlic Orleans Grilled Ribs_Garlic Orleans Grilled Ribs Practice_Garlic Orleans Grilled Ribs How to do

[Garlic Orleans Grilled Pork Ribs]_Homemade Practice of Garlic Orleans Grilled Ribs_Garlic Orleans Grilled Ribs Practice_Garlic Orleans Grilled Ribs How to do

銆 抯 棏 椣 椤 ゥ 灏 旇 Tan 鐑 ゆ 帓 Nan ㄧ 殑 氭 桭 銆 撱 滈  濂 ュ 皵 郹 鈹 刾 銆 銆 剛 剆What are you talking about? What are you talking about? What are you talking about?
鎯宠鍋氬嚭濂界殑缇庡懗浣宠偞锛屽墠鎻愭槸瑕佸噯澶囧ソ鎵€闇€瑕佺殑涓€鍒囬鏉愶紝璋冩枡锛屼互鍙婇鍏枫€傚綋鐒舵渶閲嶈鐨勮繕鏄鐏€欑殑鎶婃彙銆傛妸杩欎竴鍒囧噯澶囧ソ鍚庯紝涓嬮潰鎴戜滑灏卞紑濮嬪仛钂滈濂ュ皵鑹儰鎺掗1.鎺掗娲楀共鍑€,鐮嶆垚瀵搁,鎶婃墍鏈夎皟鏂欐斁杩涘幓.(钂 滃 ご 鎷 鎷 ) 2.1鐩掑瓙瀵嗗皝淇濋矞,闈欐斁涓€娈垫椂闂磋瀹冭繘鍛?How can you be afraid of you?3.2 掺 掗  咜 嚃 璟 珐 欐 Ma 鍧 囧 囧 sleep 4.1 橶 х harm 20 闒 嗛 挓, 頙 栧 嚭 The marriage is broken ︾ 儰.鍓╀笅鐨勯叡姹佸彲浠ュ€掑湪鎺掗涓婇潰涓€璧风儰.5、2 鐑 ょ  勰 儭 250 搴?鎺 掗  Fear to 揚 揜 嗛 滑 绾 殑 鐑 ょ 洏 掺 措 垪.鎺 ㄨ 繘 鐑 ょ  Juan Lou Xiaolian 儰.6.What’s your version of nan? You press 闒 嗘 啹 骞?寮€濮嬪啋娌?鐏姏鍙互璋冨皬涓€浜?璁 ╁ 畠 鎱 ㈡ 参 鐑 ゅ 埌 Read 戦 粍.Cang Cang, hustle and bustle, hustle and bustle?7杩欐槸涓€閬撴棤娌圭儫鑿滃摝,鏂逛究,鑳藉悆鍒扮儳鐑ゅ張涓嶇敤鎷呭績娌圭儫.You can’t do it, you can’t do it, you can’t do it, you can’t do it, you can’t do it, you can’t do it, you can’t do it, you can’t do it, you can’t do it. 搴 Fu 抡 囷 唴 锽 Cang Guo 沲 彍 射 啅 咅 嶈 咈  阌 阌 逩 涩 欩 擎 掩 氎 欎 撎 璎 開 掃 斋 尃 勃 幃 幃  幓 翏 濯 銆?

[Chocolate French Mooncake Practice]_Homemade Chocolate Chocolate Mooncake Practice_Chocolate French Mooncake Practice Daquan_How to Make Chocolate French Mooncake

[Chocolate French Mooncake Practice]_Homemade Chocolate Chocolate Mooncake Practice_Chocolate French Mooncake Practice Daquan_How to Make Chocolate French Mooncake

[Chocolate French Mooncake Practice]_Homemade Chocolate Chocolate Mooncake Practice_Chocolate French Mooncake Practice Daquan_How to Make Chocolate French Mooncake

Now there are more and more restaurants doing group purchases, but the quality is getting worse.

You usually spend a lot of money, but you ca n’t eat delicious food, which is really hateful.

So at this time, you need to master some food practices yourself.

The following editors will show you how to make chocolate French mooncakes.

1.

1 butter cut into small pieces to soften at room temperature, add sugar powder and beat until the color turns white.

Add the egg liquid in 3-4 times, whipping each time, and the last time the powder volume expands 2.

2 Hazelnuts are roasted in the oven for 5 minutes (150 degrees of fire), removed, air-cooled, peeled and pressed into granules.

Add the chopped hazelnuts to the chocolate sauce and mix well as the filling 3 for the moon cake.

Add coconut, sieve into low-gluten flour and mix well, knead into dough 4.

Knead 25 grams of flour dough into a thin sheet and spread it in a mold. Gently squeeze until the dough and the mold fit. Put about 20 grams of chocolate filling, and then take a small amount of the dough and seal it.

The surface can be cut out with a fork 5.

Preheat the oven to 180 degrees in advance, brush a layer of egg yolk on the surface of the moon cake, put it in the oven, and bake it at 180 degrees for 25 minutes until the surface of the moon cake turns golden yellow. Now many people will not cookAfter all, the development of social life and the catering industry are very developed and basically meet our needs for food, but the homemade food still has a taste. You can try to make chocolate French moon cakes yourself according to the introduction above.

[How to eat the silver carp spines]_Materials_Method

[How to eat the silver carp spines]_Materials_Method

銆愮櫧椴㈤奔鍒哄鎬庝箞鍋氬ソ鍚冦€慱鏉愭枡_鍋氭硶
锏借幉铏界劧濂借悆锛屼絾鏄槠鑴哥殑楸煎垭姣旇逮捕澶泛纴键纴芥屼笖閮伞涔熻寰櫧鑾茬殑鏃跺€欐瘮杈冩尃澶达紝灏ゅ叾鏄浜庡濡堟潵璇达紝瀹虫€曠櫧杩為奔鍒哄崱鍒板瀛愪簡锛屽瀛╁瓙閫犳垚涓嶈壇鐨勫奖鍝嶏紝濡傛灉鐧介并楸煎埡杩囧锛岃繖鏃跺€欏彲浠ラ€氳繃涓€浜涘埗浣滅殑鏂规硶鏉ラ伩鍏嶉奔鍒虹殑闂锛屾瘮濡傝閫氳繃娌圭偢鐨勬柟娉曪紝鍦ㄥ仛姘寸叜楸肩殑鏃跺€欙紝灏介噺鎶婇奔鍒哄墧闄ょ瓑绛夈€傜櫧椴㈤奔鍒哄鎬庝箞鍋氬ソ鍚冧竴銆侀并楸肩剸璞嗚厫鏉愭枡鏂欓厭銆侀€傞噺鐩愩€佽儭妞掔矇銆佸鐗囥€佽懕娈点€佹按璞嗚厫銆佸鏈€佽挏鏈€佺敓鎶姐€佽荆妞掋€侀鍙躲€傚仛娉?.灏嗛并楸艰吂妯垏鎴愭寚鍘氱殑鐗囷紝鍔犱竴鑼跺嫼鏂欓厭銆侀€傞噺鐩愩€佽儭妞掔矇銆佸鐗囥€佽懕娈垫姄鍖€鑵屽埗15 闒 嗛 抓 銆?.What are you talking about? Can you talk about it?.鐑攨鍏ユ补锛屽洓鎴愮儹鏃堕€愮墖鏀惧叆璞嗚厫鐗囷紝涓ら潰鍧囩厧鎴愰噾榛勮壊鐩涘嚭銆?.The world is hard to beat, and the world is ready to make a lot of music, and it ‘s going to be a lot of fun.㈤奔銆佹枡閰掋€佽挏鑼搞€佸鍒囩銆佹磱钁卞垏涓濄€佸皬钁便€佺敓鎶姐€侀矞璐濋湶銆侀浮绮夈€佸懗绮俱€佺敓濮溿€傚仛娉?.Shut down and shut down and shut down in total. Shut down and hang up and down and up and down, and up and down, and up and down, and up and down.Harm 10?5鍒嗛挓銆?.鍦ㄧ爜鍛崇殑杩欐鏃堕棿閲屾妸璞嗚眽鍓佹垚纰庢湯锛屽ぇ钂滃墎鎴愯挏鑼搞€佸鍒囩銆佹磱钁卞垏涓濄€佸皬钁辩殑涓€閮ㄥ垎鍒囨垚钁辫姳(鏈媿鍑烘潵)銆佹妸娲嬭懕涓濆拰鍓╀笅鏈垏鐨勮懕閾哄湪鐩樺瓙搴曚笅寰呯 护 銆?.This is the best way to do this. 8 霴 愮 儹 咭 圭 Pu Su soupWhat’s the effect? Simple and easy to use. Simple and easy to use. Thousands of teas. Thousands of teas. Thick tea. Thick. Silicone. What is it?.鎶婇摬璧锋潵鐨勮眴璞夋斁鍒扮爜濂藉懗鐨勯并楸奸噷锛屽啀鏀句笂鐢熸娊銆侀矞璐濋湶銆侀浮绮夈€佸懗绮俱€佺敓濮滃拰鍖€浜嗗悗鏀剧疆5鍒嗛挓宸﹀彸銆?.鐒跺悗鍐嶆妸娣€绮夊埌鍏ュ拰鍖€锛屽悗鎶婇攨閲岀殑娌归摬璧锋潵鏀惧埌鍜屽ソ鐨勯奔涓媽鍖€銆?.Do you want to make a difference by reading the question and answering the question?.Click on the button and click on the button to get it to you. If you want to use it, you can use it. You can use it if you want to do it. What’s the matter? Х 伀 銀?2 What are you talking about?闒 嗛 鎻  洊 銆?.Honghong

Vanke A (000002): Sales Breakthrough Takes Land Steady and Long Logic Does Not Change-Vanke October Sales Data Review

Vanke A (000002): Sales Breakthrough Takes Land Steady and Long Logic Does Not Change-Vanke October Sales Data Review

Vanke A (000002): Sales Breakthrough Takes Land Steady and Long Logic Does Not Change-Vanke October Sales Data Review

The incident described the company’s sales area of 271 in October.

30,000 square meters, down 20 a year.

5%; realized sales amount of 433.

800 million, down 19 a year.

8%; 1?
The cumulative sales area in October was 3332.

90,000 square meters, an increase of 2 in ten years.

8%; realized sales amount of 5189.

9 ‰, an increase of 6 in ten years.

9%.

Incident review October sales area and amount dropped by 20 each.

5%, 19.

8%.

The company achieved sales of 433 in October.

800 million, down 19 a year.

8%; sales area 271.

30,000 square meters, down 20 a year.

5%; the average selling price for the month was 15,990 yuan / square, an increase of 4 from 15,370 yuan / square last month.

04%.

The cumulative sales amount from January to October was about 5,189.

9 ‰, an increase of 6 in ten years.

9%; cumulative sales area 3332.

90,000 square meters, an increase of 2 in ten years.

8%, the cumulative average selling price of 15,572 yuan / flat, an increase of 0 chain.

twenty four%.

In October, the company’s sales area and amount temporarily decreased or related to the decline in the rate of elimination, the company’s push in October was not aggressive.

In October, the company’s land acquisition was stable, and the total land acquisition area increased by 34 each year.

5%.

In October the company took the ground to build 500.

60,000 square meters, an increase of 34 in ten years.

5%; Gradually take 3548 from January to October.

50,000 square meters, a decline of 15 in ten years.

4%.

In terms of land price, the company received a total of 205 land in a single month in October.

4 ‰, an increase of 6 in ten years.

6%; The total land price gradually from January to October is about 2123.

600 million, a decline of about 10 a year.

6%.
In terms of land acquisition intensity, the cumulative land acquisition area / cumulative sales area ratio was 106 from January to October.
5% (99 from January to September).

6%), and the ratio of accumulated land acquisition amount to accumulated sales amount is 40.

9% (January-September 40.

3%), the company’s land acquisition remains stable and prudent.

In October, land acquisition focused on second- and third-tier 上海夜网论坛 cities, and the average land acquisition price dropped significantly each year.

In October, the company took over 500 land.

60,000 square meters, concentrated in second-tier and strong third-tier cities, of which about 287 are second-tier cities.

50,000 square meters (accounting for 57.

4%), third-tier cities are about 213.

10,000 square meters (proportion 42.

6%).

In terms of land acquisition costs, the company’s average land price in October was 4,103.

04 yuan / flat, a significant drop of 20 previously.

69%, mainly due to the company’s increase in the proportion of land acquisition in third-tier cities caused the average floor price fell.

Investment suggestion: Leading real estate enterprises are operating stably, and it is estimated that there is still room for improvement under market rotation.

成都桑拿网
As a leading real estate company, the company has been actively selling, operating stably, and its net debt ratio is at a low level in the industry.

Expanding diversified businesses on the basis of maintaining the basic housing development market, and gaining alpha benefits that surpassed those of its peers.

We forecast the company’s EPS for 2019-2021.

64, 4.

37, 5.

24 yuan, the growth rate is 22%, 20%, 20%, the corresponding PE is 7 respectively.

38x, 6.

14x, 5.

13x, maintain “Buy” rating.

Risk Warning: 1.

Uncertainty in the liquidity environment; 2.

There may be uncertainties in the adjustment policies of the real estate business.

Follett (601865) 2019 Interim Report Comment: Capacity Release Helps Growth and Volume and Price Rise in Second Half

Follett (601865) 2019 Interim Report Comment: Capacity Release Helps Growth and Volume and Price Rise in Second Half

Follett (601865) 2019 Interim Report Comment: Capacity Release Helps Growth and Volume and Price Rise in Second Half
Brief evaluation of performance The company released its 2019 Interim Report and achieved revenue of 20.350,000 yuan (ten years +39.1%), net profit 2.6.1 billion (+22.8%), deducting non-net profit 2.3.6 billion (+16.3%), in line with market expectations. Operational analysis Efficient new production capacity released hedging 深圳桑拿网 product prices and realized high performance growth.According to our statistics, although the price of photovoltaic glass has steadily rebounded since October 2018, the average price without tax for 2019H1 products can still replace nearly 10%.The company reached two 1,000-ton daily melting production lines that were put into operation in June 2018 and April 2019, achieving sales growth and a significant reduction in unit production costs, and the gross profit margin of photovoltaic glass was only 0.5pct, an increase of 1 from the previous quarter.1pct, effectively hedging the impact of falling prices. Photovoltaic glass will usher in both volume and price in the second half of the year, and performance growth will continue to increase.Based on the fact that no new furnaces are put into operation after September this year,都市夜网 the domestic market has started to drive demand and climbed month by month, and the current status of glass enterprise inventory has continued to be low.Probability event, amplitude expected 1?2 yuan / square meter.According to the calculation of the industry’s overall expansion pace and demand, we expect that glass supply and demand will remain tightly balanced in 2020, and prices are expected to remain relatively high.By the second half of 2019, two 300-ton daily-melt production lines for cold repair production and two 1,000-ton daily-melt production lines in Haiphong, Vietnam will be put into production in 2020. Product sales volume and price will rise to promote the company’s performance growth.In addition, the company received government subsidies of 61.73 million yuan in June 2019. Only 25.25 million yuan was recognized in 2019H1. The remaining 36.48 million yuan in bonus income will be further enhanced after the recognition in the second half of the year. Under the trend of double-sided and double-glass, the growth of demand for photovoltaic glass has accelerated, and the expansion of production has achieved market share.In the first half of the year, some leading component companies have wholesaled double-glass components. In the recent centralized bidding of Guodian Investment Group, the proportion of double-glass components has reached 30%. At the same time, the United States exempted double-sided components from 201 tariffs in June.The company’s convertible bond fundraising investment project in Anhui Fengyang, two 1200-ton daily melting capacity production lines, is expected to be commissioned in 2021, which will help the company seize the opportunity of high growth of photovoltaic glass demand in the next few years, further increase market share and reduce productionCost to consolidate the duopoly position. Profit adjustment and investment recommendations maintain the company’s 2019-21E net profit forecast6.75, 10.16,12.520,000 yuan, three-year net profit compound growth rate of 43%, corresponding EPS is 0.35, 0.52, 0.64 yuan. The company’s current A-share budget corresponds to 34 / 22xPE in 2019/20, and we maintain the “Overweight” rating for A-shares; while the H-share income only corresponds to 12 / 8xPE in 2019/20, maintaining the “Buy” rating for H-shares. Risk reminder that bidding project construction progress is less than expected, grid-connected consumption situation deteriorates, and international trade environment deteriorates

Wanhua Chemical (600309): Grasp the Development Direction of Industrial Structure

Wanhua Chemical (600309): Grasp the Development Direction of Industrial Structure

Wanhua Chemical (600309): Grasp the Development Direction of Industrial Structure

Event: The National Development and Reform Commission released the “Industrial Structure Adjustment Guidance Catalogue (2019 Edition)” on November 6, 2019.

The directory covers nearly fifty fields such as petrochemicals and chemical industry. Its main role is to accelerate the development of a modern economic system, promote the development of industries, and meet the needs of people’s beautiful lives.

Effective from January 1, 2020.

The “Industrial Structure Adjustment Guidance Catalogue (2011 edition) (Amendment)” was repealed at the same time.

Investment summary: The company’s multiple processes / devices are in line with the industrial structure adjustment guidance directory, reflecting the company’s foresight and execution in the chemical industry.

Co-oxidation of propylene oxide promoted the company’s polyurethane sector fusion development.

20 concentration / year and above co-oxidation ethylene oxide supplementation device and the previous catalogue replacement are still listed as encouraged, the essence lies in the advanced nature of the process technology, and the chlorohydrin epoxy resin can avoid serious environmental pollution (itsThe process is restricted), and the self-sufficiency rate of the main products and co-products still needs to be improved 天津夜网 (85% in the first nine months of PO2019 and 74% in styrene).

The company currently has 24 / year PO / MTBE devices (commissioned in 2015), and independently developed 30/65 stage PO / SM technology (currently only Reps ol, Lyondell and Shell own the technology, only Repsol is transferred, and the remaining twoConsidering joint ventures only, Wanhua’s device is currently under construction (100 vinyl resin projects in the body, which is expected to start production in the second half of 2020).

The breakthrough in the development of the company’s epoxy resin decomposition process highlights the company’s consistent R & D and technological transformation capabilities. The transformation also helps the company to further develop the field of polyether polyols downstream of PO. The company’s MDI product has obvious advantages and 武汉夜网论坛 the excellent combination of polyether and MDISales methods and formula customization services increase the added value of products and increase the stickiness of downstream customers. The synergy between products is obvious.

Rare earth isocyanates create the company’s distinctive new material products.

The development and application of the production technology of the initial-grade isocyanate and the substitution of the previous version of the catalog are still encouraged.

Adult-based isocyanates (ADI) include HDI, HMDI, IPDI, XDI, HTDI, etc., where HDI accounts for more than 60%, and the former product accounts for nearly 90%.

ADI has better mechanical properties, chemical stability and light and weather resistance than traditional MDI / TDI. It is mainly used as water-based coatings, adhesives, curing agents and other products, and its price is significantly higher than MDI products.

The product market is integrated by Evonik, Covestro, BASF and other international giants except the company.

The company’s HDI, HMDI, and IPDI projects in Yantai and Ningbo Parks in 2012?
Production started in 2017, with a total capacity of nearly 10 tons. The ADI product series takes full advantage of the company’s isocyanate technology advantages, syngas, chlorine, aniline and auxiliary equipment in the park to reduce production costs and create special products for the company’s new material sector.

Bisphenol A provides raw material guarantee for the company’s PC equipment.

10 cations / year and above ion exchange method bisphenol A device and the previous version listed in the encouraged category.

The company’s existing 24-ton ion-exchange bisphenol A project is in the design stage. Its commissioning will provide raw materials for the company’s 7 + 13 PC capacity. In the future, it can also be replaced by upstream phenol to expand the raw materials into largerFor benzene and brown, the two-way extension of upstream and downstream will continue to reduce the risk of spread fluctuations.

Nylon 12 is intended to break foreign monopolies.

The development and production of new polyamides such as long carbon chain nylon and high temperature resistant nylon, as well as listed on the previous edition, are still encouraged.

The company’s 4 polycarbonate nylon 12 project is in the early design stage. Its main raw material is the butadiene product of the ethylene project. The company avoided bulk rubber products and chose to rely entirely on nylon 12 imported from abroad.With the company’s strong R & D and technology transformation capabilities, the company will also continue to develop in the field of new chemical materials.

The company’s comprehensive competitive advantage is obvious.

R & D and technological transformation capabilities are enhanced; parks and models of integration; ethylene industry chain extension; the company’s strategic, R & D, management, production and other advantages will continue to promote the company’s expansion in expansion and help the company’s performance to rise steadily.

Investment advice: What do we expect the company to do in 2019?
The EPS in 2021 will be 3.

12/3.

82/5.

06 yuan, the corresponding PE is 14 respectively.

38/11.

76/8.

86. Maintain “Buy” rating.

Risk reminder: the risk of severe fluctuations in crude oil prices, the risk that the progress of new projects is less than expected, and the risk that product demand is less than expected

Aerospace Electronics (600879): R & D expenses continue to rise, leading to a slight decline in gross profit.

Aerospace Electronics (600879): R & D expenses continue to rise, leading to a slight decline in gross profit.

Aerospace Electronics (600879): R & D expenses continue to rise, leading to a slight decline in gross profit.
Event: 成都桑拿网 The first quarter reported stable revenue, the R & D expenses increased by 40%, and the net profit attributable to the mother decreased slightly. On the evening of April 25, the company released a quarterly report: Q1 revenue 26.940 thousand yuan, ten years +0.68%, basically the same as 2018Q1;86 ‰, at least -13.65%, about 0 in 2018Q1.14ppm, initially due to a large increase in R & D expenses: In Q1 2019, R & D expenses were 0.520,000 yuan, a year-on-year increase of 40%, about 0 in 18Q1.1.5 billion US dollars, mainly in this period to increase research and development efforts, research and development costs increased. The funds raised in 2017 continued to advance, and a number of scientific research / industrialization projects accelerated to land.In 2017, the company raised more than 2.2 billion US dollars in scientific research and industrialization construction projects. As of the first quarter of 2019, each project continued to advance:Expansion investment of intelligent inertial navigation product industrialization construction project4.100,000 yuan, scored 0 new spending at the end of 2018.1.4 billion. (2) The new generation of measurement and control communications and aerospace electronic components research and capacity building projects are gradually expanding3.4.9 billion yuan, about 0 new expenditures at the end of 2018.1.2 billion. (3) Incremental expansion of intelligent defense equipment system scientific research and industrialization capacity building projects.79 trillion, scoring 0 new expenditures at the end of 2018.04 billion. The hope of the institute’s restructuring brings good benefits. The major shareholder of the “Thirteenth Five-Year Plan” launch plan of the Beidou-3 system is Aerospace Times Electronics Company, which indirectly benefits the shareholders’ participation in the technical support of the China Academy of Aerospace Electronics Technology (Ninth Academy).According to the China Securities Journal, in July 2017, the National Defense Science and Industry Bureau initiated the first batch of 41 Canadian military research institutes to restructure, and the company is expected to fully benefit. In 2018, the company completed a variety of space launch and scientific research and production tasks such as Beidou-3, Chang’e-4, etc., and successfully completed aerospace launch support tasks for 37 arrows and 103 stars, and various types of major flight test support tasks.It is said that China Military Network will launch at least 11 Beidou 3 satellites each year from 2019 to 2020. The service scope will cover the whole world in 2020, and it will directly benefit as a company of Beidou system suppliers. Co-invested with SF to develop a civilian commercial long-haul unmanned aerial vehicle. Feihong 98 has completed its first flight. According to CSI, the company and SF Holdings jointly invested in the joint development of the Feihong 98 commercial long-haul unmanned aerial vehicle system to complete the first flight test.The system is based on a 5B transport aircraft with a maximum take-off weight of 5.25 tons with a maximum commercial load of 1.5 tons, with short-distance and simple coastline take-off and landing capabilities, can meet the logistics and transportation needs of SF Holdings in remote cities, mountains, and islands.Feihong 98 large commercial unmanned aerial vehicle system is in the test and verification stage, and then relevant flight technology experimental verification will continue. After obtaining the airworthiness certificate, the company will work with SF Holdings to promote the mass production and large-scale application of the product.Civilization of the system is also expected to drive company performance. Earnings forecast and rating: R & D investment continues to increase, new model development is expected to accelerate, gross margins will increase, and old model alternatives will bring revenue growth indicators.Reduced 2019-2020 revenue from 172.53/210.48 to 148.83/166.69 million, revenue 186 in 2021.690,000 yuan, 2019-2021 net profit5.0/6.0/7.500 million, EPS is 0.18/0.22/0.28 yuan, PE is 34.2/28.5/22.7 times. Risk warning: The company’s industrialization of R & D projects progresses, and the large-scale application of drones is less than expected.

Huafeng Measurement and Control (688200): Exploring new customers such as Huawei, the industry will be better in 2020

Huafeng Measurement and Control (688200): Exploring new customers such as Huawei, the industry will be better in 2020

Huafeng Measurement and Control (688200): Exploring new customers such as Huawei, the industry will be better in 2020

The company released a performance report, and the company achieved operating income of 25,461 in 2019.

07 million yuan, an increase of 16 in ten years.

43%, net profit attributable to mother is 10198.

50,000 yuan, an annual increase of 12.

4%, net profit after deduction to non-mother is 10158.

170,000 yuan, an increase of 12 in ten years.

18%.

  Analysis and judgment: The company’s performance was in line with expectations, and new customers such as Huawei were explored.

  1) The entire semiconductor equipment 杭州桑拿industry is facing pressure in 2019. In the second half of 2019, some of the company’s downstream customers’ demand for the company’s products recovered, the number of orders increased, and the overall recovery was better; 2) The trend of import substitution of semiconductor equipment furtherStrengthen. As the largest domestic supplier of semiconductor automated test systems in China, with high-quality product quality, the company seized the opportunity to develop many new customers including Huawei, and maintained a continuous increase in order volume.

The market space for test equipment is expected to be about 11 in 2020.

6 billion dollars, of which the test machine is about 7.

3.2 billion US dollars, the company has significant advantages in segmentation.

  1) Test lead chip design, wafer manufacturing, package testing and other alternatives. According to SEMI data, semiconductor test equipment accounts for 8% of semiconductor equipment, and testers, sorters and probe stations respectively account for test equipment.The specific gravity is about 63.

1%, 17.

4% and 15.

2%.

It is estimated that domestic semiconductor equipment investment will reach $ 14.5 billion in 2020, and test equipment is expected to reach 11 in 2020.

6 billion US dollars, of which the test machine, sorting machine, and probe station scale are 7 respectively.

32, 2.

02, 1.

$ 7.6 billion.

2) In the field of test machine segmentation, the company has obvious advantages in the field of analog and mixed signal testing, especially the market share of the company in the field of analog test segmentation reaches 40%.

According to the company’s prospectus fundraising project plan, the company plans to enter the market space size of SoC integrated circuits and high-power device automated test systems.

  Investment suggestion: Do not change the profit forecast for the time being, and maintain that the company’s net profit attributable to the parent in 2019-2021杭州桑拿网 is 1, respectively.

01, 1.

31, 1.

75 trillion, temporarily not rated.

  Risk warning: The semiconductor industry is developing less than expected; the company’s product development / order acquisition progress is less than expected.

Theme: Overlay by Kaira Extra Text
Cape Town, South Africa