An entry-level、The lowest-tech household mini-car,For Chen Geng, this is nothing at all,All technologies are readily available,But since I underestimated the ambition of the Jialing Factory,How can it be done without making good use of?

Mirren looked at his boss ignorantly,I always feel that my boss’s words are so mysterious,But why is such a boss so handsome?
PS:4000word,Still owed yesterday1000word,Hehe……
First193chapter Chrysler and Ford
“Ladies,Gentlemen,good morning, everyone,”
Lee·Iacocca standing in front of the podium,Compared to the anxiety and anxiety a few months ago,His face is full of spirit at the moment:“Thank you very much for coming from the media industry,Nowadays,We at Chrysler have only one purpose in inviting everyone,Just to tell everyone good news!”
Speaking of which,Lee·Iacocca paused on purpose。
The reporters below are also very supportive,Pick up the camera one by one and get ready。
I saw the reporters below cooperate,Lee·Iacocca became more and more proud,He took a deep breath,Speak loudly into the microphone in front of you:“This news is,Four days ago,That’s the moment everyone received our phone invitation,Our Chrysler Automobiles’ main strategic model this year:‘family’’S daily sales have exceeded700Vehicles,Reached713Vehicles!”
Hear Lee·These words from Iacocca,The reporters at the scene immediately boiled!
“Sold in one day713Vehicles,How much can be sold that year?”
Although most Americans are not good at math,Then the addition and subtraction of two digits depends on the calculator,But not all Americans are bad at math,A reporter immediately calculated it on the spot:“713Multiply by365equal260245……Oh, God,Theoretically,The annual sales of this car can exceed26Ten thousand!”
“what?exceed26Ten thousand?!”
“real or fake?Really exceed26Ten thousand?”

“This time,We Aoki will call everyone here,Is to discuss a few things。This first,Chiyue Canyon in the future,We can’t do this!In order to avoid the loss of combat power at Bairimen,Our Aoki Club is planning to book the venue,From now on, it will be undertaken by our Aoki Club alone!”

When Zhong Yeo said this,There was an uproar at the scene,Everyone was furious,Showed an incredible expression。
“What would Aoki want to do?”
“Their appetite is too big too!Even going to swallow Chiyue Canyon?”
“What a joke!Be chartered by them,How do our other gangs mess up?”
For a time,Passionate,If it wasn’t for Aoki to be strong,Zhong Yefu and the others are powerful masters,I’m afraid someone will turn the table upside down on the spot。
“Be quiet!Please be quiet!I haven’t finished my words yet!”
Zhong Yeo settled down,Speak loudly:“Aoki will be in charge of hunting Chiyue Canyon,And the Chiyue equipment produced each time,We will hand it over to the Bairimen General Chamber of Commerce,They will trade to God City,In exchange for survival resources and weapons,Share it with everyone。”
“what?There is such a thing?”Everyone present listened,I opened my mouth wide in disbelief,Looking at Zhong Yeo blankly。
Listen to Zhong Yeo’s meaning,This is the responsibility of the Aoki Association to challenge the Chiyue Canyon,But the benefits were taken out to the whole day gate,There is no such good thing in the world?
“of course,They are not for free,We also need to exchange the corresponding resources。and,When Bairimen is in trouble,For example, the army from God City,Must obey the command,Fight the enemy together,Everyone must contribute!”Zhong Yefu said with a smile。
“If everyone has no opinion,From today,All commercial transactions in the day gate,All taxes are halved。”Zhong Yefu smiled and threw out another assassin。
At once,The people around are like boiling water,Thoroughly boiled。
According to previous rules,All merchants in Bairimen must pay taxes,The purpose is to support those gangs,Once a foreign enemy comes,All the gangs in the city will unite,Fight against foreign enemies with the military and civilians in the city。
And this biggest foreign enemy,Except for the dark race,There are also threats from the army from God City。
Once more than once,God City Army Suppresses Realm,Ask Bairimen to surrender the wanted criminals in God City。
Bairi Gate as a city of sin,Never succumbed!This is also the charm of this deserted city。

A-share single-day market value evaporates 1.

How long can the 1 trillion infrastructure stocks tragically protect-

A-share single-day market value evaporates 1.

How long can 1 trillion infrastructure stocks hold up?

Original title: A-share single-day market value evaporates 1.

The 1 trillion Shanghai Stock Index has fallen again!

How long can the tragic support of infrastructure stocks last?

  Source: The website of the financial industry surpassed one trillion trading volumes for six consecutive trading days, withdrawn northbound funds for four consecutive trading days (nearly 4 billion net interest 深圳桑拿网 rates today), and the market value of stocks per day has evaporated by nearly 1.

1 trillion, did the wolf really come this time?

  In the background of the generally green world of Europe, America, and the Asia-Pacific market, A-shares today performed a completely opposite market. Yesterday, the Shanghai stock index fell 3,000 points, and the stunning clip of the GEM index falling more than 4% was fixed to today’s closing time.

  The performance of the A-share roller coaster for two consecutive days scared Li Daxiao, who had previously chanted “3000 points have been welded”. After announcing “formal welding” yesterday, today he announced the view of “thousand-strength steel bar 3,000 points horizon”.

But today I am afraid that the performance of A shares will make him and 1.

600 million shareholders were disappointed.
  New and old infrastructure tragic support plate 3000 points Where do you stand?

  From the perspective of the disk, the old infrastructure represented by engineering construction, and the new infrastructure represented by the radio and television department, have become the important main force of today’s Shanghai Index guarding 3,000 points.

Taking the daily limit as an example, the engineering and construction sector had 12 shares, and the radio and television department also had 6 shares.

  According to the latest news, recently, Beijing, Fujian Province, Yunnan Province, Henan Province, Jiangsu Province and other places have released a list of major project investment plans for 2020, including 3 in Fujian Province.

84 trillion, 3 in Yunnan Province.

6 trillion, Henan 3.

3 trillion, a total of 10.

The 74 trillion yuan project alone caused fractures for everyone to watch. Because of the way out of the 2008 economic crisis, the four trillion yuan stimulus method has made great contributions.

Today, the body weight of only three provinces exceeds the national scale of that year, “2.

The “four trillion stimulus in version 0” is not always coming.

  For the radio and television department, the release of the “National Cable TV Network Integrated Development Implementation Plan” is the biggest positive. The document proposes that China Radio and Television will take the lead in cooperating with the Provincial Network Company and strategic investors to form the China Radio and Television Network Joint Stock Company.Web integration.

At the same time, a 5G network with radio and television characteristics will be established to realize the integrated development of “one national network” and 5G.

Ensure that the provincial network company enters the joint-stock company at the end of the “Thirteenth Five-Year Plan” and at the same time require the completion of “one province, one network” integration.

Some institutions predict that the State Grid, Broadcasting and Television will invest 100 billion yuan in new infrastructure in three years.

  Although the 100 billion scale of the radio and television system is far from the super 10 trillion scale of the old infrastructure, the voice of optimism and even the standing of the new and old infrastructure is endless.

  China National Securities believes that in the context of relatively weak current demand, stimulating effective demand and stabilizing employment have become the focus of current policy efforts.

In the critical period of China’s economic structural transformation, the transitional department will not adhere to the old road of “high energy consumption and low efficiency” and will support more new industries and new economies.

A clear point of active fiscal policy is the new infrastructure, which can hedge the current economic pressure, support the economy, and transform the economic structure.

  CITIC Construction Investment Securities Zhang Yulong said in an interview with the financial industry website that fiscal policy is mainly “focusing on key areas, optimizing local government special bond investment, making good use of investment within the central budget, mobilizing enthusiasm for private investment, and accelerating the scale of construction.project.

“In fact, aside from the epidemic situation, infrastructure investment was originally a definite option in 2020. The epidemic situation has catalyzed the effect. After the resumption of work, infrastructure-related industries are expected to accelerate and accelerate.

  Technology stocks crash, two big empty institutions “snugging”?

  Compared to the tragic 3,000 points of the old and new infrastructure guards, the Saviour’s technology sector became the hardest hit area yesterday, with domestic chips, gallium nitride, Huawei and other concept stocks lying down.

  Huatai Securities, which gave CITIC Construction Investment a “sell” rating last year, and CITIC Securities, which ran short of PICC, all showed a hint of the current trend.
CITIC Securities believes that the first round of “filling pits” in A shares this year is mainly driven by loose liquidity, and after the various signals are clear, its subsequent kinetic energy will tend to decline, and the market will also enter a period of peace.

A shares are still in the middle of the “well-off bull” channel. It is expected that the second round of growth driven by the entry of industrial capital and the replacement of fundamentals will start in the second quarter.

  Huatai Securities commented on the previous hot technology stocks, saying that the size of funds flowing to science and technology has reached at least 69.9 billion this year. Newly issued partial equity public funds (technical funds account for a relatively high proportion), especially passive funds (technical ETFs, etc.) open positions.It is the direct reason that the short-term forecast continues to rise, and then gradually resumes full-scale work and the end of the peak of the allocation of new funds. It is predicted that the expansion of technology stocks may not be sustainable.

  It is worth mentioning that the initiator of the market last spring was the 5G concept. At that time, it promoted the rise of technological breakthroughs such as OLED, cloud computing, and ubiquitous electric power Internet of Things. Today, it has brought the radio and television system to life.The two major institutions in the short-term trend caused the Shanghai Index to fall 4 on March 8 last year.

4% lost 3,000 points in the tragedy.
  As if between, 1.

600 million shareholders have witnessed a script that seems to 南宁桑拿 have met. When will the 78th Shanghai Index challenge the 3000 point when it will come, whether the infrastructure stocks will enter the footsteps of the technology stocks, and whether the voices of most institutions will be effective, but this time I do n’t knowIt will not be a simple repetition of history.

Dongyi Risheng (002713): Sumei’s increase in losses drags down performance and high dividends highlight the value

Dongyi Risheng (002713): Sumei’s increase in losses drags down performance and high dividends highlight the value

Matters: On April 21, 2019, the company released the 2018 annual report and 2019 first quarter report.

As of December 31, 2018, the company achieved operating income of 42.

30,000 yuan, an increase of 16 in ten years.

36%; realized net profit2.

52 ppm, an increase of 16 in ten years.

12; basic income is 0.

97 yuan / share, an annual increase of 12.


The company’s profit distribution plan for 2018 is: a cash dividend of 8 yuan is paid to all shareholders for every 10 shares.

8 yuan (including tax), no bonus shares, the capital reserve will be transferred to all shareholders for every 10 shares of 6 shares.

In Q1 2019, the company’s operating income was 7.

96 ppm, an increase of 10 years.

09%; realized net profit of 79.68 million yuan, a year-on-year decrease of 28.

38%; basic profit return is 0.

3 yuan / share, previously down 25%.

Comment: The segments continued to grow steadily. Profits have improved in 2019, increasing by industry. The company’s home improvement income, public installation income, and precision equipment income in 2018 were 36.

6.7 billion, 3.

56 ppm, 79.77 million yuan; 87% of total revenue.

24%, 8.

48%, 1.

90%; annual growth of 12.

91%, 21.

77%, 533.


The home improvement business remained stable, while the business of public fittings and precision fittings grew significantly and the development of acquisition targets was better.

The company’s net profit 重庆耍耍网 attributable to its parent in Q1 2019 was -0.

79 trillion, down 28 each year.


Q1’s profit has improved. We estimate that mainly due to the large number of new stores opened by Sumei in 18 years, the expense rose rapidly, and the first quarter was due to the recognition of off-season revenue.

Looking at the quarter, the growth rate of Q4 may be mainly due to the coldness of the real estate market. Looking at the quarter, the company’s Q1, Q2, Q3, and Q4 revenue were 7 respectively.

1.7 billion, 10.

9.3 billion, 11.

3 billion, 12.

63 ppm, an increase of 34 each year.

35%, 21.

47%, 23.

53%, 16.

36%.The company’s 2019Q1 revenue is 7.

97 ppm, an increase of 11 years.


In the fourth quarter, real estate transactions in Beijing turned cold; the restructuring was also affected by winter shutdowns in the northern region; the company’s 2018 net profit2.

53 ppm, an increase of 16 per year.


Q1-Q4 net profit was -0.

6.2 billion, 0.

7.3 billion, 0.

7.3 billion, 1.

6.9 billion, an increase of 5 each year.

08%, 43.

14%, 46%, -3.


The gross profit margins were 32.

27% (0.

34 points), 36.

04% (2.

13 points), 35.

88% (0.

91 points), 37.

16% (0.


The period expense ratio increased the company’s period expense ratio in 201828.

10%, an increase of 0 from the previous year.

63 units, of which the sales expense ratio is 16.

87%, rising by 0 every year.

75 units; management expense ratio 11.

06%, a decline of 0 per year.

27 units; financial expense ratio is 0.

16%, rising by 0 every year.

14 units.

Expense rate for Q1 2019 is 39.

94%, rising by 0 every year.

68 units.

The increase in the company’s expense ratio during the period was mainly due to the increase in research and development expenses. In 2018, the company’s research and development expenses increased by 20.

45%, and the trial and error cost of the company’s Sumei business led to increased sales costs.

The increase in the company’s financial costs in 2018 was mainly due to the increase in the company’s interest-bearing debt last year, but the financial expenses accounted for the total expenses.

Net cash flow from operating activities of the company in 20182.

04 billion, a decline of 178 every year.92%, mainly the company’s public service.

2019 will be the year for Sumei’s loss reduction. In 2018, Sumei Jijia, a subsidiary of the company, achieved operating income1.

41 trillion, operating profit of 90.75 million yuan, net profit of -90.11 million yuan. Considering the current number of Sumei business’s self-operated stores is about 48, mainly new openings in 18 years, leading to a significant increase in costs and expenses, we expect the company to 19Sumei’s new store openings will shrink sharply, and there may be serious losses in 19 years.

The company with good development momentum of the M & A target can expect the company’s future performance.

97 ppm, an increase of 41 in ten years.

44%, net profit of 67.1 million yuan, an annual increase of 5.

63%; Shanghai Chuangyu Industrial’s operating income 3.

97 ppm, an increase of 55 in ten years.

5%, net profit of 33.75 million yuan, an annual increase of 21.

53%; Beijing Xinyi Oriental’s operating income1.

30,000 yuan, an increase of 339 in ten years.

70%, net profit of 39.13 million yuan, an increase of 194 throughout the year.

twenty three%.

Reiterate that the “Buy” rating is expected from 2019-2021, and the company’s operating income will be 50.

1.9 billion, 58.

6.2 billion, 67.

10,000 yuan, an increase of 19 each year.

4%, 16.

8%, 14.

3%; net profit attributable to mothers is 3.

200 million, 4.

05 billion, 5.

4.0 billion, an increase of 26 each year.

7%, 26.

5%, 24.


The EPS for 2019-2021 is expected to be 1.

22 yuan / share, 1.

54 yuan / share and 1.

92 yuan / share, the corresponding PE is 15 respectively.



9x, the company is a rare high dividend company in the secondary market. Under the scenario of a large proportion of dividends and reduced net assets, it still achieved objective growth and re-buy rating.

Risks indicate the risk of overweighting the real estate budget; the risk of a sharp rise in the price of building materials; and the risk that business development will not meet expectations.

Bank of Nanjing (601009) detailed interpretation of the 2019 third quarter report: non-interest contribution performance increased retail sales

Bank of Nanjing (601009) detailed interpretation of the 2019 third quarter report: non-interest contribution performance increased retail sales

Highlights of the quarterly report: 1. Performance maintained high growth.

Revenue and PPOP have achieved high growth for three consecutive quarters this year. The growth rate in the first and second quarters of the third quarter was slightly inclined, but both maintained a two-digit growth rate, of which the revenue was extended by 21.

1%, the high growth rate of PPOP reached 23 in ten years.

8%, while net profit growth in the third quarter remained at double digits.

3% stable and high growth.

2. Increase in the proportion of credit: The growth rate of loans is further broadening, and retail development has driven the proportion of credit to interest-generating assets to increase2.

51 perfect to 42.


3. Net non-interest income grew slightly faster in the second quarter, but maintained a period of high growth, +87.

5% (1H19 decade +89.

7%), which accounted for a small proportion of total revenue fell 3bp to 32.


  Insufficient 佛山桑拿网 quarterly reports: 1. Net interest income decreased by 5% from the previous quarter, which was caused by two factors: scale and price.

2. The decline in net interest margin is expected to be caused more by the debt interest rate.

The return on interest-earning assets on the asset side decreased by 2bp to 4 from the previous quarter.

19%, the interest rate on the debt side is up 8bp from the previous quarter.

There is some pressure on the company’s deposit competition. The growth rate of deposits is weaker than the previous month, and the growth rate is -0.

75%, while the degree of livelihood contraction decreased.

3. Asset quality has declined, but is generally controllable.

The defect rate rose 3bp to 0 from the previous month.

89%, but still at allowable levels.

  Investment suggestion: company 19E20EPB0.

96杭州夜网X / 0.

83X; PE6.

10X / 5.

32X (City Commercial Bank PB1.

02X / 0.

91X; PE8.

78X / 7.

82X), Nanjing Bank’s revenue and PPOP grew well, net profit achieved a 15% increase for the third consecutive quarter, non-interest income contribution conversion, it is recommended to keep track.

  Risk warning: the macro economy is facing downward pressure, the company’s deposit competition is under pressure, and performance management is less than expected.

Xinjiang Zhonghe (600888): Corrosion foil supply slows company’s performance

Xinjiang Zhonghe (600888): Corrosion foil supply slows company’s performance

Event description: The company’s 2019 semi-annual report shows that the first half of the year achieved revenue 22.

500 million yuan, a reduction of about 2% a year; net profit attributable to mother 0.

910,000 yuan, a year-on-year decrease of 11%, to reach zero income.

11 yuan.

Incident Comment: Affected by the fire accident in the corroded foil workshop, the revenue of the electrode foil segment decreased.

Reporting intermediates, the company’s high-purity aluminum achieved sales revenue3.

3.1 billion yuan, electronic aluminum foil sales revenue3.

1.1 billion US dollars, stable compared 天津夜网 with the same period last year; electrode foil due to insufficient supply of corroded foil, sales revenue4.

1.6 billion, a certain margin; alloy products, aluminum products total sales revenue7.

8.3 billion US dollars, basically the same as the same period last year; from the perspective of domestic and foreign market distribution, the company’s export revenue was 2.

40 ppm, an increase of 10 years.


  The production capacity advantage is obvious, and the aluminum foil business is growing steadily.

The company’s non-public offering of shares raised about 7.

500 million yuan will be used for: (1) an annual output of 15 million square meters of high-performance high-pressure high-pressure foil forming project; (2) an annual output of 15 million square meters of high-performance high-pressure corrosion foil project; (3) repayment of bank loans.

By the end of June, part of the project’s production lines had entered the commissioning production stage.

The total number of targets for this offering is four: TBEA has subscribed for approximately 3.

6.8 billion yuan, Zhuhai Gree Electric Co., Ltd. subscribed for about 200 million yuan, Jiangsu Quanquan Agricultural Bank state-owned enterprise mixed transformation transformation and upgrade fund subscription for about 1.

48 ppm, Shenzhen Boding Huaxiang Investment Partnership subscribed for about 0.

3.5 billion.

Currently, TBEA holds a 30% stake.

85%, still the company’s largest shareholder.

Gree Electric’s shareholding ratio is 4.

44%, the company’s third largest shareholder.

  Gree Electric has strategically invested in shares and deepened cooperation with Xinjiang Zhonghe.

Xinjiang Zhonghe is an important supplier of medium- and high-voltage foil-forming materials for Gree Electric. This strategic equity investment in Xinjiang Zhonghe has improved the company’s supply chain system and provided stable raw material supply guarantee for the company.

In addition, in-depth cooperation with Xinjiang Zhonghe can accelerate the company’s emerging industry product promotion and form a close strategic cooperative relationship.

  Profit forecast and investment recommendations: Considering the sales volume and cost impact of electrode foils during the year, after adjustment, it is estimated that the company’s net profit attributable to mothers in 2019-2021 will be 1.

96, 2.

52, 2.

96 ppm; EPS is 0.

19, 0.

24, 0.

29 yuan, with a daily corresponding P / E of 22 on August 14, 2019.

7X, 19.

2X, 北京夜网 16.

3 times, give overweight rating.

  Risk warning: Alumina, electrolytic aluminum prices fluctuate, aluminum foil demand is less than expected

Depth-Company-Adisseo (600299): Multi-point flowering company performance steadily rises at low prices

Depth * Company * Adisseo (600299): Multi-point flowering company performance steadily rises at low prices

The company released the third quarter report of 2019 and achieved revenue of 83 in the first three quarters of 2019.

1.3 billion, a year-on-year decrease of 2%, and net profit attributable to mothers8.

1.2 billion, an increase of 14% in ten years.

In line with expectations.

Maintain BUY rating.

  The company released the profit distribution plan for the first three quarters of 2019, and plans to pay 1 for every 10 shares.

03 yuan (including tax).

  Highlights of support levels The third quarter results continue to improve each year.

In the first three quarters of 2019, the company achieved revenue of 83.

1.3 billion, a year-on-year decrease of 2%; net profit attributable to mothers8.

1.2 billion, an increase of 14% in ten years; net profit after deduction 6

79 ppm, a decrease of 2 per year.


Among them, in the third quarter, the company achieved revenue of 29.

5.5 billion, an increase of 6 every year.

48%; realized net profit attributable to mother 2.

780,000 yuan, an increase of 26 in ten years.


  The company’s profitability continued to remain at a relatively high level, with a combined sales gross margin of 34%, comparable to the same period last year.

Especially when the price of methionine dropped, the gross 杭州夜网论坛 profit margin of the company’s functional products increased by 1 to 31%, reflecting the company’s advantages in cost control and technological innovation.

The sales of several products showed a good momentum, offsetting the negative impact of the low methionine price.

Although the price of methionine continues to run low and the price of vitamin A fluctuates, the sales of liquid methionine and certain specialty products have become the driving force for the company’s growth.

Since 2019, the company’s liquid methionine sales have maintained double-digit growth, especially in China, where sales have grown by more than 20%.

  At the same time, the revenue of special products in the third quarter increased by more than 9% each year.

Among them, the sales revenue of enzyme preparations increased by more than 14%; the US dairy industry market initially resumed growth, and anti-gradual animal product sales increased by more than 16%; Hilary Selenium achieved the best sales performance in a single quarter, an increase of more than 26%.

The asset evaluation was reduced and the “BANG” plan continued to advance.

The listed company intends to acquire 15% of the ordinary shares of Blue Star Adisseo Nutrition Group Co., Ltd. held by the holding company in cash.

After the failure of the first acquisition, the assets of this acquisition are estimated to be 36 from the previous one.

14 trillion down to 30.

8.6 billion yuan.

If the acquisition is successful, the listed company will hold 100% of the common stock of Adisseo Nutrition Group, which will help the company to further improve its financial position and operating results.

  It is estimated that the company ranks second in the global methionine market share, and the liquid methionine share is the first in the world.

In the future, the company will expand its production capacity and lead the industry in profitability.

It is expected that the EPS for 2019-2020 will be 0.

43 yuan, 0.

51 yuan, corresponding PE is 24 times, 20 times.

Maintain BUY rating.
  The main risks faced by the rating are outbreaks of large-scale epidemics; emergencies such as environmental protection and safety; sudden increases in raw material prices or a key intermediate supply interruption; project construction is not up to expectations; abnormal exchange rates affect the company’s performance.

Taihe New Materials (002254): Aramid capacity expansion and overall listing of core core groups enhance competitiveness

Taihe New Materials (002254): Aramid capacity expansion and overall listing of core core groups enhance competitiveness

Key points of investment: the development of spandex and aramid dual-line, and the “dual base” boosting capacity expansion.

The company specializes in the development and production of military spandex and aramid fibers, and the actual controller is the State-owned Assets Supervision and Administration Commission of Yantai City.

Currently has spandex capacity7.

5 cationic / year, meta-aramid production capacity is 7000 tons / year, para-aramid production capacity is 1500 tons / year.

Since bottoming out in 2016, even with the downturn in spandex, the boom in aramid can continue to improve and the company’s performance continues to improve.

Net profit attributable to mothers in the first three quarters of 20191.

51 ppm, a ten-year increase6.


The company actively responds to industry changes and implements a “dual base” strategy in the new Yantai plant and Ningxia. In the future, it will form a spandex production capacity of 9 per year / para-aramid production capacity1.

2 anion / year, meta-aramid production capacity 1.

2 every year.

  The meta-aramid protection market has a considerable increase, and the demand for para-aramid import substitution is urgent.

The current global consumption of meta-aramid is about 2.

7 highest, domestic about 5-6 thousand tons, mainly used in insulation, flame retardant protection, high temperature filtration and other fields.

Meta aramid has begun to use military personal protective clothing, and according to estimates, the demand for active-duty military training clothing has reached 7,200 tons.

Coupled with the flame retardant, high temperature and other special protection markets in various industries, the future increase is considerable.

The global consumption of para-aramid is about 8 tons, and the domestic consumption is about 1 ton. It is mainly used in the fields of safety protection, automotive friction materials,杭州桑拿网 and optical fiber protection enhancement.

Para-aramid production process barriers are high, the United States DuPont and Japanese Teijin occupy about 70% of the world’s share, more than 80% of domestic dependence on imports.

As para-aramid has important applications in the fields of national defense and military industry, and the uncertainty of the global trading environment has increased, sensitive application areas are vulnerable to foreign restrictions, so the demand for para-aramid domestic substitution is increasingly urgent.

The company is the second largest aramid company in the world and the largest aramid company in China. The company’s production capacity will continue to expand in the future, promoting the consolidation of first-mover advantages and responding to domestic alternatives.

  The spandex industry is waiting for the bottom to rebound, and the company’s differentiated expansion is expected to come out of the trough.

Due to overcapacity in the spandex industry, the overall prosperity since 2011 has shown a downward trend.

In 2019, more than 80% of enterprises in the industry are allowed.

Cumulative pressure on safety and environmental protection has continued to expand, and small businesses have become increasingly difficult to survive. Outdated production capacity has begun to be phased out and exited. Since 2016, more than 70,000 tons of production capacity have been gradually withdrawn.

In a certain period of time, companies will have the initiative to expand production and further increase the industry concentration. Through the gradual elimination of inventory, downstream demand will pick up, and the spandex industry is expected to come out of the downturn and gradually rebound.

The company is the first domestic enterprise to realize the industrialized production of spandex. At present, the spandex business is at the bottom of history, which has dragged down its performance. The company has established a second base in Ningxia. The scale of production has been expanded based on the price of production factors in Ningxia.Level, the future is expected to gradually come out of the trough.

  Significant asset reorganization has helped the group’s overall listing and further enhanced its overall competitiveness.

The listed company intends to absorb and merge the controlling shareholder Taihe Group through the issue of shares and acquire the downstream aramid paper related company Minstar.

In this major asset reorganization, the corporate governance structure of the reorganization will be more refined by absorbing and merging, which will help improve management and operational efficiency; the reorganization, the integration of Minstar into the listed company will help reduce related party transactions, and the main business of the listed company will beThe business will be extended to the downstream aramid paper, and the advanced aramid fiber industry chain will be improved, further enhancing the overall competitiveness.

  Investment suggestion: Start the company’s construction of aramid in the new plant in Yantai and the Ningxia dual base in 2020. The production capacity of new spandex installations will be released one after the other. The para-aramid business will grasp the substitution of imports, help the development of military equipment, convert the old and new kinetic energy of spandex, and increase differentiationProduct structure is expected to gradually come out of the trough.

Expected net profit attributable to mothers in 2019-212.

02, 3.

16, 4.

190,000 yuan, without considering the impact of asset restructuring, corresponding to EPS 0.

33, 0.

52, 0.

69 yuan, PE 37X, 24X, 18X.

If you consider the completion of the asset reorganization in 2020, the total share capital is 6.5 billion shares, plus 500 million matching financing, 2020-21 pro forma net profit 3.

41, 4.

480,000 yuan, corresponding to PE 25X, 19X.

Covered for the first time, giving “overweight” rating.

  Risk Warning: Aramid Industry Downturn, New Project Progress Exceeds Expectation, Raw Material Prices Change Sharply


Brighten your eyes



Brighten your eyes

They say that the eyes are the window of the soul. How is your physical condition?

Are you pretty

One or two can be seen from the eyes.

However, many mms have this kind of eye care error zone, and they are not very familiar with eye care products. What is more terrible is the error of maintenance methods. These will be the biggest damage to the eye skin.

  It is not a day or two thing to have glamorous eyes. It must be accumulated over time, and we must master the correct use of eye cream to maximize the effectiveness of the eye cream and really improve the skin of our eyes.

What are you waiting for? Come learn!

  Five Misunderstandings Broken Your Eyes: Misunderstanding 1: Judging what eye cream to use by age!

  If you’re still judging what eye cream to use based on your age, then you really need to make up for it.

Some types of eye cream are generally used, depending on our skin age and skin problems.

Common eye creams come in three sizes: gel, lotion and cream.

They differ in their clarity and nutritional content, and their problems are different.

  Misunderstanding 2: Choose eye cream by skin type

  The skin on the eyes is very thin, there are no oil glands, and no more oil will be secreted due to hot weather or skin oil.

We should not choose eye cream based on season or skin type, but based on eye problems.

Even for oily skin, if you have fine lines on your eyes, you should apply an eye cream with lotion.

  Misunderstanding 3: Use eye cream only at the corner of the eye.

  The area where the skin initially deteriorates is infinite in the end of the eye, or under the eye, followed by the upper eyelid.

So dark circles and bags under the eyes appear first, and then drooping eyelids.

In this area, aging is not conspicuous, but it is more fragile. It will suddenly appear very noticeable due to small accumulation, so it is necessary to prevent fading.

  Myth 4: Use eye cream only at night.


  Nursing is a process that is accumulated over time. It cannot be used when you think of it, and you don’t use it when you don’t think about it. This will greatly affect the effect of use.

In addition, eye cream should be used after toner, and then after applying eye cream, face cream can no longer cover eye cream.

  Misunderstanding 5: Too much or too little mistake!

  The skin on the eyes is extremely thin. If you use too much eye cream, it will not absorb it, but it will cause a burden to accelerate aging. Therefore, use two mung beans each time.

Absolutely, pay attention to the hygiene of the hands when using it, and do not apply it to the eyelids, eyelashes and eyes to prevent eye irritation.

What about eye care products?

  Eye Essence: The molecular weight of eye essence is usually smaller, more refreshing, easy to push away, and absorbed quickly, so it can solve eye problems more effectively.

If the texture of the eye cream is heavy, then using the eye essence before the eye cream can make the eye cream easier to push away and promote the absorption of the eye cream by the eye skin.

It should be noted that if eye essence is used, be sure to add another layer of eye cream so as to lock the nutrients in the essence.

  Editor’s Choice: Jurlique Herbal Eye Essence Milky Emulsion Contains Powerful Repairing Herbal Essence.

Combining the natural power of roses, arnica and millet grass as well as fragrant essential oil ingredients such as American ginseng and evening primrose oil.

Accelerate blood circulation, comprehensively repair and activate eye skin cells, promote regeneration of eye cells, and help restore skin elasticity and radiance.

  Eye cream: It has moisturizing effect. In addition to reducing dark circles and bags under the eyes, it can also improve the effect of wrinkles and fine lines.

Emulsion eye cream is rich in nutrients and relatively light in weight. Its main function is to prevent wear and reduce fine lines.

Cream-size eye creams are the most nutritious and the thickest, and their efficacy also points to the more difficult eye problem-eye wrinkles.
  Editor’s recommendation: Opal Crystals Eye Cream promotes blood circulation around the eyes, while revitalizing damaged cells, improving dark circles and dullness.
A three-dimensional whitening and strengthening essence to create transparent and bright skin.

Improves rough skin, prevents fine lines caused by dryness, and keeps eye skin delicate and elastic.

  Eye gel (also known as eye gel): Gel eye cream is the clearest, eliminating oil. If you want to lighten dark circles, relieve eye puffiness, or solve dry eye lines, gel is a good choice.

In fact, you can also use eye gel during the day and eye cream at night, but if the eye skin is basically normal, using eye gel can also remove fine lines.

  Editor’s Choice: Body Shop Elderflower Eye Gel This elder flower eye gel is the favorite of Princess Diana and one of the best products sold by BODY SHOP!

Its transparency is transparent and exudes a faint plant fragrance.

The gel-shaped eye gel does not twist your hands and is extremely moisturizing.

Has a strong hydration effect.

  Eye mask: can replenish moisture in a short time, eliminate fatigue, quickly reduce the swelling and dark circles caused by sudden staying up late, and also replenish water in a short time, eliminate fatigue, increase skin elasticity, mmPrevents this special maintenance from being done once a week.

  Editor’s Recommendation: ARTISTRY 14TM Intensive Eye Mask 14 Days Intensive Care, designed for eye skin.

Containing Quine Repair Complex: Bio-engineered T4 enzymes to help awaken the self-repair ability of the eye skin and lay the foundation for healthy skin metabolism.

  Editor’s tip: STEP1 morning and evening cleansing, use the ring finger to take mung bean-sized eye cream, rub the two ring fingers with each other, warm the eye cream, make it easier to be absorbed by the skin.

  STEP2 uses the piano to gently pat the eye cream on the skin around the eyes.

Focus on the lower eye socket and the extension of the end of the eye to the temple and apply more.

  STEP3 first from the eye, gently pressing from the eye point to the end of the eye.

Then insert it slightly from the inside from above the eyes.

  STEP4 start with the middle finger from the bottom of the eyebrow, and step on it gently.

Then pleasing to the eye, slightly interfere from the inside.

  STEP5 Use your middle fingertips to gently press the Yingxiang points on both sides of the nose to promote blood circulation in the eye area.

  STEP6 can also add eye mask in the last step in the special weekly care to help reduce eye pressure.

7 common syrups, beauty and nourish the skin

7 common syrups, beauty and nourish the skin

Autumn and winter are dry and the skin begins to itch again. External skin care is not enough. The key is to condition from the inside.

Here we provide 7 types of sugar water, so that you will not be afraid of drying in this autumn and winter!

  First, fungus corn syrup material: sweet corn, rock sugar, wolfberry, red dates, fungus method: 1, all materials washed and soaked slightly, red dates pitted, corn kernels, fungus pedicle tear small flowers.

  2, boil water, put the fungus red dates and wolfberry and cook for 40 minutes, put the corn and rock sugar and cook for another 20 minutes after the fungus is rotten.

  Efficacy: clearing heat and nourishing, nourishing yin and lungs, nourishing blood and anti-aging.

  Second, ginkgo yuba indica rice water material: fresh yuba, ginkgo, indica rice, rock sugar Practice: 1. After soaking the indica rice, boil and stew for 1 hour at the same time.

  2. Wash the yuba and cut into pieces, add and simmer for another hour, then add rock sugar.

  Efficacy: nourish yin and throat, resist fatigue and dryness, clear heat and reduce fire.

  Third, the red bean lotus seed sugar water materials: lotus seeds, red beans, Chen Pei, rock sugar practices: 1, soaked Chen Pei, wash the lotus seeds, soak the red beans in water for 3-5 hours.

  2. Cook the rind first, add red beans and cook for 20 minutes, and finally put the lotus seeds to cook until the red beans are soft, then add the rock sugar.

  Efficacy: spleen and diarrhea, diuresis and swelling, clearing heat and detoxifying, removing dampness and nourishing qi.

  Fourth, kelp white radish syrup material: kelp, white radish, rock sugar Practice: kelp shreds, white radish cut into a pot together, add rock sugar.

  Efficacy: Yishen Guqi, anti-oxidant and anti-wrinkle, blood pressure and pulse.

  V. Chrysanthemum Pu’er syrup material: chrysanthemum, dried hawthorn flakes, pu’er tea, honey Practice: 1. Put dried hawthorn flakes and chrysanthemum in the pot and boil for 20 minutes. Put Pu’er tea into the soup and brew.

  2. Add honey after the tea is cold.

  Efficacy: Eliminates fat and detoxifies, diuretics, and lowers fire qi.

  Six, Tremella Sydney syrup material: Tremella, Sydney, red dates, rock sugar practices: 1, soaked white fungus to tear small pieces, washed red dates to remove the core, Sydney washed and cut into pieces.

  2. Put all the ingredients in the water and cook for 40 minutes, until the white fungus is rotten.

  3. Add rock sugar at the end.

  Efficacy: nourish and warm the body, nourish the lungs and cough, help digestion and absorption, and increase appetite.

  Seven, cane sugar water cane material: cane root, bamboo cane, horseshoe, fange practice: 1. Wash the material, peel the horseshoe, peel the bamboo cane fange and cut into pieces.

  2. Put all the ingredients in the pot and add water for 2 hours.

  Efficacy: nourishing yin and nourishing the lungs, lowering fire and blood pressure, rejuvenating and quenching thirst.