[How to cook cooked meat]_Delicious practice_Method steps

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[Does the toast get fat?]_ Nutrition value_Long meat

[Does the toast get fat?]_ Nutrition value_Long meat

Bakery toasts are divided into different types. Common toasts are whole wheat toasts and fruit toasts mixed with other materials. They are one of the common breakfast choices for many people. Customers can choose according to their preferences.For people who lose too much weight, they often think that bread and other foods cannot be eaten during the weight loss phase, which will increase the accumulation of aunts, so will the toast really gain weight?

1.

Does eating bread gain weight?

This statement is of course false.

Bread is often the number one enemy for thin people.

But can you really lose weight without eating bread?

Experts explain that if interference is not ruled out, no matter whether you eat bread or other food, you will gain weight. This is simply a question of quantity.

Therefore, we properly count the bread into the daily starch side, to interfere with the amount of bread eaten every day.

But it is certain that eating one or two slices of bread in the morning or replacing lunch with appropriate bread will not cause you to gain weight.

The human body needs starch, which cannot be overstated!

2.

Is toast better for breakfast than cereal?

The answer is yes.

At the center of this question is, which of the cereals, fruits, and breads is more suitable for breakfast?

Nina Coon-Cubby believes that bread is the first choice for breakfast.

She believes that cereals are too sugary, and so they recommend us to eat bread for breakfast.

Eat a few slices of toast with peanuts for breakfast, during which the rich glucose can provide the body with the energy needed to maintain a fuller feeling than cereals.

Similarly, we can also choose other types of bread, such as whole grain bread, for a rich breakfast.

3.

Is the nutrition of the sandwich balanced?

Expert recognition is inevitable.

Experts show that sandwich bread can provide us with the starch that our bodies need, ham or chicken can provide us with enough protein, and tomatoes and other ingredients supplement the human body’s demand for vegetables.

But the experts reminded us not to add fat to the sandwich, and to improve the color of the sandwich.

In short, sandwiches are not only nutritious and fully made. Sandwiches with water and fruit are a good choice for lunch.

4.

Does bread help digestion?

It wasn’t.

Expert problem solving articles, the inclusion of dietary fiber in fruits and vegetables helps smooth digestion and health.

Food fiber can also be eaten in whole grain bread, but the content is far from replacing fruits and vegetables, and it does not have an excellent digestion effect.

The experts focused together, and some people may have intolerance to coarse grain bread and need special attention.

5,

Are chocolate and bread the perfect afternoon tea?

It was not accurate.

Afternoon tea is best not to eat too much bread. If you want to eat chocolate, it is best to eat only two or three pieces of dark chocolate.

In fact, eating some fruits and dairy products at tea time will supplement and then we need the energy for the next 3 or 4 hours, but if you want to change one of them into bread, it will not hurt and it will not affect your figure.

[Can chocolate and cola be eaten together?

]_ Cocoa butter _ can you eat

[Can chocolate and cola be eaten together?
]_ Cocoa butter _ can you eat

You can see all kinds of chocolates in large and small supermarkets. It should be reminded that there are many precautions for eating chocolate. Most of the chocolates are sugary, so it is best for people with diabetes.Do n’t eat, and those who have a bad heart must not eat chocolate, can you drink cola while eating chocolate?

Can chocolate and cola be eaten together?
Chocolate and cola are more familiar to sweet lovers. Chocolate is a very high-conversion food, which also contains theobromine, a certain caffeine substance. Coca contains caffeine, which can stimulateBrain, people have a little excitement, so can you drink chocolate to eat chocolate?

Can chocolate and carbonated drinks be eaten together?

1. You can eat carbonated beverages such as chocolate and cola together. Chocolate is still very rich in nutrition. It contains protein, trace, protein, multivitamins and mineral elements, which can provide a lot of nutrition for the human body. The nutritional content of colaNot much. It mainly contains water, carbonic acid, sugar and some additives. It is not very big to the human body. It is not a big problem to drink chocolate with cola.

2. Eating together affects chocolate and cola, both of which can increase the excitement of the human body. If you eat too much together, it will make it difficult for people to fall asleep. Chocolate is not only high in nutrition, but also very high in conversion.If you eat two kinds of food regularly, you can easily get fat.

3. Dietary recommendations Because carbonated drinks such as chocolate and cola contain a lot of sugar, people with diabetes should not eat them. People with heartache should not eat chocolate. Chocolate may irritate the body and cause heartache.

Pregnant women are neither suitable for eating chocolate nor drinking cola. Chocolate is harmful to pregnant women. Caffeine in cola is very bad for pregnant women and fetuses. Drinking cola will affect the body’s absorption of calcium. TeenagersDrink less.

[Can lemonade cough and reduce phlegm]_ Lemon fruit water _ Can you drink it?

[Can lemonade cough and reduce phlegm]_ Lemon fruit water _ Can you drink it?

Normally drinking some lemonade properly has the effect of improving immunity. Although there is no way to directly target the effect of relieving cough and phlegm, it has a certain effect on improving the body’s ability to resist disease. Usually when coughing due to coldsIt ‘s good to drink a little lemonade. Lemon has a high nutritional value and has good medicinal effects. Let ‘s take a look at this.

Can lemonade cough and reduce phlegm? Lemon is rich in vitamin C, and it also contains calcium, phosphorus, iron and vitamin B family, which is helpful to improve your own resistance, but lemon can not solve the effect of phlegm!

Introduction of lemon Lemon is one of the most medicinal fruits in the world. It is native to Southeast Asia and is now mainly produced in the United States, Italy, Spain and Greece.

It is mainly used for juicing, and sometimes also used as cooking seasoning, but basically does not use fresh food.

Lemons were brought to Europe by the Arabs, and there is no record in the ancient Greek or ancient Roman literature. It was only planted in Genoa, Italy in the 15th century, and appeared in the Azores in 1494. It contains vitamin C, citric acid, and malic acid.High amounts of potassium and low amounts of sodium are very beneficial to the human body.

Vitamin C can maintain the production of various tissues and interstitial cells in the human body, and maintain their normal physiological functions.

It is the nemesis of scurvy.

Types of lemons: 1. Uric (Uric), also known as Uric, Urica, has a prominent nipple-like apex on the top of the fruit, thicker skin, vertical edges between the skin, thick skin, and very acid flesh.

2, Lisbon (Lisbon), the top of the fruit has a blend of nipple-like convex tips and often slightly oblique, the skin is smoother, the fruit base is also more obvious replacement, the flesh has a strong acidity.

3, Meyer (Beijing lemon), also known as bergamot, Meihua lemon, is a variety bred in Fengtai, Beijing. It has strong cold resistance, thin and smooth skin, short convex tips on the top of the fruit, strong aroma of pulp, but containsAcid content.

There is still the so-called coarse lemon C.

Assorted rice

Yes, it is native to India, Guangdong and Sichuan.

4. Swingle school thinks that it is a hybrid of lemon and broad-skinned oranges. Its peel is lemon yellow and very rough, with short sarcoma-like plugs on the top of the fruit, large and empty cores, and few seeds.

Fast growth, resistance to drought and nematode damage.

Used abroad to make wood materials.

[How about a lemon a day]_Benefits_Advantages

[How about a lemon a day]_Benefits_Advantages

Nowadays, most people know how to keep in good health. In this way, it is best for their own body. It will not cause their body to have some problems in normal times. This will affect their normal work and study.Rhythm, so lemon has become a kind of nourishing fruit that more people will choose now. If you eat a lemon a day, the effect is still significant, and it can have a whitening effect.

Experts say that because lemon contains very rich vitamins, it can prevent the deposition of melanin in the skin, and at the same time can break down the melanin in the skin, which is a beauty and whitening holy product.

If you drink it with lemon, you can prevent calcium coagulation and prevent diseases such as high blood pressure.

Lemonade, also called lemon vinegar, is an edible vinegar that has the effect of weight loss and beauty.

Lemons are durable and easy to preserve, and lemon peels are rich in calcium, so in order to achieve the desired effect, it is best to squeeze the juice from the peel to be the most nutritious.

Lemon and vinegar also have the effect of weight loss, so it seems that lemon vinegar is really good for beauty and can be said to be a healthy food.

If you drink a small cup after a meal, you can boost your vitality, refresh your spirit, and be more beautiful.

Vitamin C, like other antioxidants, helps to reduce wrinkles and scars and overcomes free radicals.

The alkaline nature of vitamin C can kill some acne-causing bacteria and keep skin healthy and healthy[1].

Cleansing the body system lemon is really a good thing. This method is simple and practical. It can not only detoxify but also help lose weight. It also has the effect of preventing colds, but it must be persisted to be effective?
Lemonade can eliminate harmful substances in the body, whiten, detoxify and clear the intestines.

Fresh lemon soaked in water, because it is extremely rich in vitamins, it is a good product for beauty, can prevent and eliminate skin pigmentation, leading to whitening; drinking lemonade can also inject cardiovascular disease, because lemonade can relieve calcium ions to interfere with bloodThe role of coagulation can prevent and assist the treatment of hypertension and myocardial infarction; lemon water contains a large amount of citrate, which can inhibit the calcium salt crystals, thereby preventing the formation of kidney stones, and even reduce the number of stones in some patients with chronic kidney stones.[2].

Lemon has a diuretic effect, so lemon water can speed up the body’s discharge of toxins and help maintain a healthy urinary system, while citric acid in lemons can greatly play the role of enzymes and stimulate the liver to detoxify[1].

Slimming lemonade can quench thirst and dilute the desire to eat, so it can effectively suppress improper diet, plus 15 minutes of exercise a day.

Drinking a glass of lemonade every day and adding a bit of baking soda to the lemonade can also promote fast weight loss.

Semir Apparel (002563): Children’s wear continues to grow rapidly Q3 casual wear is adjusted

Semir Apparel (002563): Children’s wear continues to grow rapidly Q3 casual wear is adjusted

In the third quarter, the casual wear business was adjusted and the KIDILIZ indicator. Net profit in the first three quarters increased by 3%, which was slightly lower than expected.

1) In the first three quarters of 19 years, revenue was 132.

60,000 yuan, an increase of 35 in ten years.

8%, net profit to mother 13.

1 ppm, a ten-year increase of 2.

8%, deducting non-net profit 12.

500 million, an annual increase of 3.

5%.

Impact of the replacement of KIDILIZ (the first three quarters are expected to replace about 1.

6.5 billion US dollars, the first three quarters of the original business is estimated to achieve revenue of about 11.1 billion US dollars, a year-on-year growth of 13%, net profit is about 14.
.

70,000 yuan, an increase of 15 in ten years.

6%.

2) 19Q3 achieved income of 50.

40,000 yuan, an increase of 19 in ten years.

1%, to achieve net profit attributable to mother 5.

8.5 billion, a decline of 3 per year.

2%.

After deducting the impact of KIDILIZ’s consolidation (expected Q3 is more than about 55 million yuan), it is estimated that the original business Q3 realized revenue of about $ 4.3 billion, an increase of 3%, and a net profit of about 6.
.

40,000 yuan, an increase of 6% in ten years.

The overall scale of the mergers and acquisitions 爱北京体验网 table has improved significantly, gross profit margin, period expense ratio has increased significantly, and asset quality is relatively large and stable.

1) The consolidation of KIDILIZ resulted in a significant increase in gross profit margin and period expense ratio.

In the third quarter of 19 years ago, gross profit margin increased by 5 compared with the same period last year.

6pct to 44.

4%, mainly due to the gross profit margin of KIDILIZ business exceeding 65%, far exceeding the company’s original business gross profit margin.

At the same time, due to the impact of consolidation, the sales expense ratio increased by 7.
.

8 points to 23.

9%, the management expense ratio (including research and development expenses) increased by 1 over the same period last year.

9pct to 6%, the net interest rate decreased by 3 compared with the same period last year.

2 points to 9.

8%.

2) There is still room for improvement in asset quality.

Accounts receivable in the third quarter of 19 years increased earlier3.

300 million to 22.

80,000 yuan, the inventory increased by 8 earlier.

7 trillion to 53 trillion.
Net operating cash flow for the third quarter of 19 years -2.

9 trillion, a decrease of 3 compared with the same period last year.

20,000 yuan, but an increase of 1 from the end of the second quarter.
30,000 yuan, an improvement.

The children’s wear business continued to grow rapidly, and the casual wear business adjusted in the third quarter.

1) In the first three quarters of 19, the revenue of the original children’s clothing business grew rapidly, and it is expected to maintain a growth rate of more than 20%. Among them, the single and third quarter maintained a two-digit growth, and the overall momentum is good.

2) The casual wear business revenue is expected to maintain positive growth in the first three quarters of 19, of which some adjustments were made in the third quarter, mainly due to the replacement of all offline consumption, and part of the impact of the company’s increase in shipping frequency.

Offline channels expanded steadily, and e-commerce continued to grow rapidly.

1) The company’s stores continue to grow. It is expected that the total number of stores will continue to increase rapidly compared with the second quarter. The new stores are mainly children’s clothing.

2) E-commerce is expected to maintain a growth rate of about 30% in the first three quarters, of which children’s clothing e-commerce has a growth rate of more than 30%, and the growth momentum is good.

.
The company’s children’s wear continued to lead the way, with casual wear growing steadily. The multi-brand children’s wear strategy has been well-established. It continues to grow rapidly and maintains a “Buy” rating.

The company’s 18-year store opening accelerated to lay the foundation for 19-year performance. The market share of leading children’s wear has increased rapidly, and casual wear has grown steadily.

Taking into account that the casual wear business has been adjusted in the third quarter, we have slightly lowered our original profit forecast. It is estimated that the net profit attributable to mothers will be 18 in 19-21.

7/22.

1/25.

400 million (was 19).

0/22.

8/26.

4 ppm), corresponding PE is 18/15/13 times, maintaining the “buy” level.

Yili (600887) Company Review: Steady Revenue Growth, Good Profit Performance

Yili (600887) Company Review: Steady Revenue Growth, Good Profit Performance

Event: The company released three 深圳spa会所 quarterly reports, with operating income of 685 in the first three quarters.

1.7 billion, +12 a year.

6%, net profit to mother 56.

31 ppm, +11 a year.

6%, deducting non-net profit 52.

64 trillion, +12 for ten years.

3%; 19Q3 operating income 235.

500 million, ten years +10.

8%, net profit attributable to mother 18.

500 million, +15 for ten years.

5%, deducting non-net profit 17.

4.5 billion, +19 a year.

6%.

Revenue grew steadily and market share increased steadily.

19Q1-Q3 total operating income was 686.

800 million, ten years +11.

98%, operating income 685.

2 ‰, +12 per year.

6%.

1) From a quarterly perspective, the growth rates of 19Q1, Q2, and Q3 operating revenues were 18%, 9%, and 11%, respectively.

2) From the perspective of revenue structure, according to the growth of our channel research, in the first three quarters of revenue structure, sales volume contributed about 6%, structural upgrade contributed about 4%, and the ton price increased (buying gift attenuation) was about 2%.

3) In terms of categories, according to the company’s announcement in the first three quarters of the company’s liquid milk revenue accounted for 82.

2%, milk powder accounts for 9.

8%, cold drinks accounted for 8%.

According to our channel survey, the first three quarters of room temperature milk and milk powder revenues are expected to grow at double digits, and cold drinks will maintain a high number of revenues. Low-temperature milk will remain flat due to increased competition in the industry, and overall revenue will meet expectations.

The company continues to focus on organic products and new products.

According to channel research, the company’s current sales revenue of new products is expected to reach 17-20%.

The new Iran dairy drink, the response of the new coffee market is not bad.

“Golden Organic”, “Qingxing Organic”, “Changqing Organic Yogurt” and “Golden Collar Senna Mu Organic Baby Milk Powder” have received good feedback.

4) The market share of 19Q1-Q3 has steadily increased. At room temperature, milk powder maintains the advantage. The overall low temperature has dropped slightly, and the chain has improved.

According to Nielsen data, 19Q1-Q3 room temperature market share was 38.

8% + 2pct per year; low-temperature market share is 15.

8%, -1.

0pct, Q3 is better than Q2; infant milk powder market share is 6.

4%, over +0.

6pct, mainly due to the deep cultivation of mother-to-child channels + variety show sponsorship to strengthen the brand.

The increase in gross profit margin was mainly due to the upgrading of the product structure + the overall decline in buying gifts, which offset the impact of the increase in raw milk prices.

The company’s gross profit margin in the first three quarters was 37.7%, increase by 0 every year.

04ppt, 19Q3 company’s gross profit margin was 36%, which was increased by 0 in advance.

22ppt.

From the original cost, according to our channel research, the company’s raw milk purchase price from January to August was 3.

95 yuan / kg, an increase of about 7%, of which 19Q1 rose 5% -6%, 19H1 rose 6-7%, from January to August rose about 7%, bringing cost pressure.

The rise of raw milk means that the industry’s raw milk supply is tight and alternates to the downstream. In terms of products, high-quality milk sources will preferentially meet mid-to-high-end products, but the basic category Q3 found that there is a slight lack of milk.

From the perspective of buying gifts, according to our channel research, Mengniu Telunsu reduced prices in 19Q2, followed by Yili Jindian Q3, high-end products buying gifts increased slightly, basic products Q3 lack of milk buying gifts, overall buying gifts are expected to weaken slightly.
From the perspective of product structure, large single products such as An Mu Xi, Jin Dian, Jin Ling Guan are growth engines, which continue to drive structural upgrades.

We believe that the Q3 structure upgrade is accelerating. The main reason is that the sales volume has increased rapidly after the price reduction of Jindian. Although the original gross margin of Jindian has slightly declined, the Jindian series is still higher than the overall gross profit. The price reduction promotion of high-end products drives the sales to increase rapidly.The proportion increased and the structural upgrade drove the gross profit margin significantly.

Thinking about the competitive landscape and buying gift strategy?

According to the upstream raw milk research, the overall supply is tight. We expect that the modest rise in raw milk prices will continue until 2021. Dairy companies will have a relatively high proportion of raw materials. The overall purchase gift will eventually decline, and the gross profit margin will be promoted to remain stable.

1) From the perspective of the competition pattern, during the current round of rising raw milk prices, because of low gross profit margins, the sales volume of basic products continued to decrease due to low gross margins, and will gradually reduce buying gifts as raw milk prices increase.

Discounted purchase of high-end products is expected to be a staged act. Whether high-end products’ price reduction dividends will continue depends on the upgrade of new products and higher-end products. Considering that the overall new product innovation of white milk is slower than yogurt.

2) According to the channel forecast, Mengniu Trensu Organic + Dream Cover currently accounts for about 30% of the Trensu Series, 15-20% of organics in the Jindian Series, and the overall high-end (organic + imported + Juanshan) ratio.30%, the structure of the two sides is similar, Telunsu, Jin Dian this round of price reductions brought about by the margin of sales growth.

3) Looking to the future, after the structural dividend caused by the price cuts of high-end products in Q2 in 2020 disappears, leading companies will continue to push high-end new products to undertake the current high-end price reduction strategy. Without any high-end new products to undertake, under the pressure of raw milk growth, the purchase of high-end productsGifts are expected to decline, and the overall competitive landscape is improving.

Channel intensive cultivation + brand promotion are all in force, and the sales expense ratio is stable and slightly decreased.

The management expense ratio increased slightly due to the increase in employees and salary increase + equity incentive expenses.

The company’s sales expense ratio for the first three quarters was 23.

7%, -0 per year.

83pct, 19Q3 is 21.

9%, twice -2.

43ppt. The decrease in sales expense ratio was mainly due to the increase in operating efficiency under the effect of scale.

According to the channel survey, 1) We expect the channel expense rate to be stable. As of 19Q3, the number of company distributors is 12,278, an increase of 1,674, and channel sinking and intensive cultivation will continue.

At the same time, other channels are gradually exerting their strength, and e-commerce revenue has grown rapidly. Active cooperation with new retail outlets such as Suning Stores has continued to improve channel capabilities.

2) The increase in advertising costs is expected to increase and decrease the advertising cost rate, mainly due to the high base last year + the efficiency of advertising this year.

19Q3 management expense rate growth rate + 1ppt to 4.

5%, mainly due to the increase in the number of employees in the business division + the salary increase of employees, considering the allocation of incentives in 19Q4 to supplement 4-5 million, we expect the replacement of 19Q4 management expense rate.

3Q19 financial expense ratio is 0.

43%, ten years +0.

58%, mainly due to ultra short-term financing bonds and bank borrowings.

Profitability improved, operating cash flow improved in the third quarter, long-term return on net assets is expected to stabilize at around 20%, and government subsidies in the first three quarters5.

300 million.

In 19Q3, the company’s net profit was 18.

500 million, ten years +14.

5%, deducting non-net profit 17.

4.5 billion, +19 a year.

6%, net interest rate increased by 0 in the short term.

32ppt to 7.

86%.

In the first three quarters, the net operating cash flow was 62 megabytes, which was -20% a year, mainly due to the increase in prepayments for purchasing raw materials and the increase in cash paid for employee expenses.The inflow growth rate is lower than the revenue growth rate mainly due to the discount on the account period of e-commerce + Shangchao KA customers, and the first payment after the distribution channel remains unchanged.

Net cash flow from investing activities -82.

5 ‰, an increase of 22 per year.

USD 800 million was mainly due to the increase in cash paid for the purchase and construction of fixed assets, intangible assets and other long-term assets.

Net cash flow from financing activities -37.

90,000 yuan, mainly due to the increase in cash received for the issuance of ultra-short-term financing bonds and medium-term notes.

Goodwill 5.

$ 300 million, mainly due to the merger of Thailand’s CHOMTHANA COMPANY and New Zealand’s Westland Dairy.

Profit forecast and investment suggestions: We are optimistic about the company’s channel power, brand power, and future city share, which are expected to increase to 904 in 2019-2021.

4, 1000.

3, 1109.

2 ‰, +13 a year.

7%, 10.

6%, 10.

9%, net profit was 68.

7, 72.

3.83.

500 million, ten years +6.

6%, 5.

3%, 15.

5%, EPS is 1.

13, 1.

19, 1.

37 yuan, corresponding PE is 24X, 23X, 20X.

The company’s equity incentive plan has been passed, with a dividend rate of more than 70% and a ROE of not less than 20%.

Risk warning: raw milk prices rise more than expected, the industry is fiercely competitive, new product promotion is less than expected, and food safety risks.

Origen (002701) Half-yearly Report 2019 Review: Two-Piece Can Profit Improves Reignwood’s Shareholding Forms Deep Binding

Origen (002701) Half-yearly Report 2019 Review: Two-Piece Can Profit Improves Reignwood’s Shareholding Forms Deep Binding

A brief review of the results On August 27, the company disclosed an interim report. In the first half of the year, it achieved revenue / net profit of 41.

44 ‰ / 4.

8.6 billion, an increase of 2 each year.

57% / 5.

36%, fully diluted EPS0.

21 yuan, in line with expectations.

In the first half of the year, the repurchased shares were cancelled, and the company plans to distribute dividends to all shareholders for every 10 shares1.

08 yuan (including tax).

Business analysis The revenue of three-piece cans increased slightly, and the profit of two-piece cans improved significantly.

In the first half of the year, the company’s three-piece can business revenue was still a substitute, and the business achieved overall revenue27.

96 ppm, a five-year average of 5.

86%.

Among them, three-piece cans-beverage cans revenue decreased by 6.

87%, three-piece cans-food cans revenue increased by 8.

74%.

Although the company continues to promote the development of new customers, Red Bull’s contribution to the three-piece can business is still significant in the short term, so the operation of large customers has dragged down the company’s three-piece can business.

Under the ranking, two-piece cans performed better in the first half of the year, with revenue growth of 24.

47%, while benefiting from the maximum increase in production capacity, gross margin reached 11.

47%, an increase of 6 a year.

5 points, significantly improved profitability.

Reignwood’s shareholding and increase in holdings may be a positive signal for the normalization of China Red Bull’s business.

On August 15, the company announced that Reignwood Aviation Group acquired a substantial reduction of 2,472 by its major shareholder Shanghai Yuanlong.

610 thousand shares (1 of the total share capital).

05%).

On August 20, the company announced that Reignwood Aviation once again received a reduction of 2,237 by its major shareholders.

830,000 shares (0% of total equity).

95%).

Reignwood, as China Red Bull’s actual operating enterprise and the company’s largest customer, has formed a deep binding with the company through its shareholding and increase in holdings, showing its confidence in the company’s future development.

At the same time, Beijing First Intermediate People’s Court has rejected Thailand’s Tencel’s application for mandatory liquidation of China Red Bull.

From this point of view, Reignwood’s shareholding company has also passed China Red Bull’s trademark disputes to a certain extent or will gradually become clear and normal.

Acquired Boer’s China business and consolidated the cornerstone of the development of the two-piece can business.

The company announced in December last year that 2

Acquired Ball Asia Pacific Ltd. for $ 0.5 billion

Chinese packaging business-related companies.

We believe that the acquisition of Ball China will complement the company’s own two-piece can business.

At the same time, after the completion of the acquisition, the company’s customer structure can be further optimized and its reliance on the previous largest customer can be reduced.

The company plans to raise RMB 11 trillion by 南京夜生活网 issuing convertible bonds, 7 of which.

The US $ 7 million acquisition of Porto China’s equity has now received a review of the CSRC’s administrative license project and reverted to work. Profit forecast and investment advice The company has obvious advantages in the metal packaging industry. Despite the uncertainty of its core business, its operations have stabilized. We predict that the company’s EPS will be zero after 2019-2021 when it is fully diluted.

39/0.

47/0.

56 yuan (three years CAGR80.

1%), corresponding to 13/11/9 times the corresponding PE, maintaining the company’s “overweight” rating.

Risk factors The risk of large customers losing the right to use the Red Bull trademark; the risk of untimely development of new customers; the risk of poor development of new areas and new businesses.

Yangnong Chemical (600486): Possibilities and Challenges Coexist, Optimistic about the Future

Yangnong Chemical (600486): Possibilities and Challenges Coexist, Optimistic about the Future

Event: The company released its 2018 annual report and achieved operating income of 52 in 2018.

Nine ten percent, an increase of 19 per year.

2%, net profit attributable to mother 9.

0 million yuan, an increase of 55 in ten years.

7%, earnings per share 2.

89 yuan.

In 2018, the company’s performance picked up significantly.

In 2018, the company seized the opportunity for the global agrochemical market to pick up, with greater sales of major varieties, and its own exports further increased18.

5%.

In the domestic health medicine market, by adjusting prices in a timely and appropriate manner, promoting the sales of conventional varieties and expanding the sales of patented varieties, the domestic health medicine has grown at a first level.

8%.

In the 南宁桑拿 domestic pesticide market, the company adopted a product portfolio sales model to drive sales of weak varieties, expand formulation sales through multiple channels, and increase domestic pesticide substitution.

7%.

In 2018, the company awarded the Agrow Best Supplier Award, and the “Most Flexible Supplier” award to customers of multinational corporations. The company’s pesticide sales ranked fifth in the country, and pesticide export sales ranked third in the country.

In the future, the company faces challenges and challenges.

The company is still in the period of important strategic opportunities. The period of climbing and rising and the period of development are mainly facing three major opportunities and four major challenges.

The company’s three major possibilities are: 1. On a macro scale, the state will 四川耍耍网 further support large-scale enterprises with core technologies and innovation capabilities, as well as large-scale fiscal reductions in taxes and fees; 2. Market share, the recovery of the global pesticide market, domesticThe concentration of the pesticide industry has been further enhanced, and the dual role has benefited the company; 3, the company’s scale has completely completed the retreat from the city and entered the park, and it has also steadily advanced the construction of the third-phase project of Youjia, the fourth-phase project, and plans to acquire SinochemResearch company, further enhance the value of the company’s “research, production, sales” industry chain.

The company also faces four major challenges: 1. The rise of international trade protectionism and the Sino-US trade friction. The impact on the company has improved in the fourth quarter of 2018. In addition, the price of the original drug has completely exceeded its high level, and there will be a peak in the future.Possibility of falling back; 2. The company’s project construction tasks are heavy, and the construction of the third-phase project of Youjia needs to be advanced at full speed, and the fourth-phase project needs to start as soon as possible;Environmental supervision will only be stricter in the future, and it will put forward higher requirements for the company’s production and operation management.

Profit forecast and rating.

Regarding the impact of the acquisition of Sinochem crops and Shenyang Zhongyan for the time being, it is expected that the company’s net profit attributable to mothers in 2019-2021 will be 10 respectively.

3 billion, 12.

3 billion, 14.

700 million, maintain “Buy” rating.

risk warning.

Risks of uncertain asset acquisitions, risks of weak downstream demand, risks of safety and environmental protection, risks of new projects being completed and put into production may be less than expected.

BTG Hotel (600258) 2019 Interim Review: 8% increase in net profit is in line with expectations; high-end hotels are growing rapidly

BTG Hotel (600258) 2019 Interim Review: 8% increase in net profit is in line with expectations; high-end hotels are growing rapidly
Core budget net profit increased by 8%, in line with expectations.In 1H19, the overall revenue of BTG Hotel was RMB 40 billion / -0.3%; net profit 3.7 billion / + 8%; deduct non-net 南京桑拿论坛 profit 3.4 billion / + 6%, in line with our expectations.The company guides overall revenue of RMB 8.68 billion to RMB 8.8 billion in 2019, which increases slightly each year.  RevPAR continued to gradually decrease in the second quarter of 1919.In the second quarter of 19, the company’s overall hotel RevPAR ratio decreased by 1.5%, of which RevPAR for budget hotels fell by 3.9%, RevPAR of mid- to high-end hotels dropped by 6.7%, mainly because ADR decreased by 6.8%.Same-store RevPAR drops by 3 each year.6%, of which RevPAR of economy / mid-to-high-end hotels are subdivided into 3 respectively.9% / 3.2%, caused by simultaneous insertion of ADR and OCC.  Expansion still maintains a high growth rate.The number of new stores opened by the company in 2Q19 was 159, and 43 new high-end hotels opened.In 2Q19, the number of Rujia mid-range hotels increased by 43% year-on-year to 660, accounting for 18% of the total number of Rujia hotels.At the beginning of 2019, 800 new stores are planned, of which more than 50% are high-end 南京夜网论坛 and franchise stores account for more than 95%.  Investment suggestion: Regarding the company’s short-term impact of macroeconomic growth, we cut the net profit for the year 19-21 to 9.5/11.2/13.2 ppm, the corresponding growth rate is 10% / 18% / 18%; reduce the corresponding target price under the DCF estimation method to 23.9 yuan, maintain “Buy” rating.  Risk reminder: the risk of macroeconomic fluctuations; the risk of natural disasters and epidemic diseases; the risk of expansion speed; the risk of franchise management