Kang Dexin Zhongzhi Department’s second shareholder pledge was cleared and investigated 17 months ago

Kang Dexin Zhongzhi Department’s second shareholder pledge was cleared and investigated 17 months ago
After the pledge of 93.41 million shares pledged in Zhongyuan Trust last July, Kangde New Shareholder Zhejiang Zhongtai Chuangying Asset Management Co., Ltd. (hereinafter referred to as “Zhongtai Chuangying”) has recently notified the listed company that it hasPut the remaining 1.7.6 billion shares were released from pledge, and so far, all the shares of Kangxinxin held by Sino-Thailand won’t be pledged.It is hoped that Zhongtai Chuangzhan will be 100% controlled by Zhongtai Chuangzhan Holding Co., Ltd. (hereinafter referred to as “Zhongtai Chuangzhan”), and the actual controller behind it will be the director of the “Zhongzhi Department”.After being investigated for suspected undisclosed “consistent action relationship” after 17 months of investigation, there was no result. On March 24, the listed company Kangde New Composite Material Group Co., Ltd. (stock abbreviation: * ST Kangde 002450) revealed that the announcement, The company’s second shareholder Zhongtai Chuangying has already won 1.7.6 billion shares were released from pledge, and the pledgee was Huafu Securities Co., Ltd.Note: The screenshot shows that the proportion of Kangxin ‘s shares pledged by Kangxin in Kangdexin ‘s announcement has exceeded 90% of its total holdings. After the pledges have been released, Zhongtai Chuangying held Kangdexin as of March 24.Share 2.7.4 billion shares, accounting for 7 of the total share capital.75%, of which pledged shares are 0.In 2016, Zhongtai Chuang won the brand Kangdexin. From November 16 to December 2 of that year, it increased its holding of Kangdexin through the secondary market1.7.6 billion shares, accounting for 5 of the company’s total share capital.00%.Subsequently, it continued to increase its holdings and increased its holdings to its current number of shares in December 2017.7.4 billion shares.However, two years after Zhongtai Chuang won the promotion of Kangdexin, the CSRC held in October 2018 against Kangdexin, Kangdexin’s controlling shareholder Kangde Group, actual controller Zhong Yu, and two shareholders Zhongtai ChuangxinThe “Notice of Investigation” was issued with Zhongtai Chuangzhan. Because of the undisclosed relationship of unanimous action among the shareholders, the information disclosure was suspected of violating the laws and regulations, and the CSRC conducted an investigation.The announcement at the time showed that during the new period of Sino-Telecom’s promotion of Kangde’s new brand, due to Kangde’s requirement that Sino-Thai won more than three years, Kangde and Sino-Thai signed an agreement with guaranteed terms.Kangde Group and Zhongtai Chuangying believe that, according to the provisions of Article 83 of the “Administrative Measures for the Acquisition of Listed Companies” announced by the Securities Regulatory Commission, the two parties are inconsistent and constitute a condition for a concerted action relationship, and there is no joint expansion of theirThe act of dominating the number of shares of listed companies that can be caused does not require additional information disclosure obligations, so no information is disclosed.In December 2018, Kangde’s new major shareholder Kangde Group, Zhongtai Chuangying and its related parties terminated the “Strategic Cooperation Agreement” (hereinafter referred to as the “Agreement”).The announcement disclosed by Kangdexin shows that the “Agreement” has guaranteed clauses. The purpose of signing is mainly for Kangde Group to request Zhongtai Chuangying to hold Kangde’s new stock for a long time.In addition to the increased holding of Kangde’s new stocks in the primary market, each merger actually merges the responsibilities agreed under the original agreement.After 17 months from October 2018 to the present, the above-mentioned investigation involving the “consistent actors” still has no results, and the investigation on the matter of the majority shareholder Kangde Group ‘s occupation of the listed company ‘s funds has been filed since then.Announced the preliminary budget in May.On July 5, last year, the China Securities Regulatory Commission issued the “Administrative Administration’s Prior Notice”, showing that Kangdexin had a virtual profit increase of US $ 11.9 billion, and did not disclose in the annual report the related transactions of shareholders’ non-operating fundsItems that violate the law and regulations.Among them, Kangde Group’s major shareholder Kangde Group took advantage of the extended “Cash Management Service Agreement” with Bank of Beijing Xidan Sub-branch to occupy Kangde New Funds non-operatingly from 2014 to 201865.2.3 billion, 58.3.7 billion, 76.7.2 billion, 171.5 billion and 159.3.1 billion yuan.After receiving the “Administrative Administration’s Prior Notice”, Kang Dexin applied to the CSRC to submit a hearing. After two extensions, the hearing was held at the CSRC on November 19 last year.The main controversy of the hearing focused on the supervision department and Kang Dexin’s judgment on the problem of stacking falsely increased profits of 11.9 billion and false business. The final result of the hearing will affect whether Kang Dexin directly delists.US $ 200 million debt financing is unknown. Kangdexin has pointed its finger at Zhongtai Chuangying. In response to the Shenzhen Stock Exchange’s letter of concern, Kangdexin directly pointed to the second shareholder Zhongtai Chuangying, saying that it may have issuedWhere the bond financing funds go.In March 2017, Kangde’s new subsidiary Zhide Excellence Enterprise Co., Ltd. (hereinafter referred to as “Zhide Excellence”) issued a US $ 300 million bond with a coupon rate of 6%.In June last year, Kangde’s new announcement announced that Zhide Excellence’s parent company, Zhide International Enterprise Co., Ltd. (hereinafter referred to as “Zhide International”) entrusted the above funds to Zhongzhou International Asset Management Co., Ltd. (hereinafter referred to as “Zhongzhou International”).Financial management, and signed a supplementary agreement on entrusted financial management with Zhongzhou International on September 5, 2017. Zhongzhou International lent US $ 200 million to Zhongrong International Finance Co., Ltd. (hereinafter referred to as “Zhongrong International”).Kang Dexin pointed out in the announcement that Zhongrong International had a related company in Hong Kong-Zhongzhi International Financial Holdings Co., Ltd., and was under the control of the same BVI company when Zhongzhou International and Zhongrong International signed the agreement.The company cannot rule out the possibility that Zhongrong International, Zhongzhi International Financial Holdings Co., Ltd. and Zhongtai Chuangying, the company’s second largest shareholder, belong to the same company group and constitute connected transactions.In June last year, Kang Dexin responded to the Shenzhen Stock Exchange’s concern letter that the company had been understanding the reasons for the investment financial management after discovering these entrusted financial management agreements during the self-examination, but because the current person in charge had lost contact, Zhongzhou InternationalDue to factors such as a low degree of cooperation, the company is temporarily unable to understand the true background of the investment and financial management.At the same time, the company immediately communicated with Zhongzhou International about the investment of US $ 200 million and announced the early redemption according to the terms of the agreement after being informed of the investment and financial management, but Zhongzhou International stated that it could not redeem the financial management in advance, ignoring the advance issued by the company to it.Redemption notice, and has been providing any information of Zhongrong International to the company.It seems that Kang Dexin was still managed by a merger headed by Xiao Peng in June last year. The session succeeded the founders Zhong Yu and Xu Shu in February last year. However, under the “Pre-Administrative Litigation Letter”On July 1, 2019, four days before the release, Xiaopeng, the chairman and president of Kangdexin, and Hou Xiangjing, the vice president, left (Relevant reports: Chairman of Kangdexin resigned and the old department of Jinfu Technology was in charge of the new department of Kangde.).Subsequently, the new leader, which was negotiated and formed by the creditor’s committee and the local government, took office. Wu Xing, who has a background from Minsheng Bank, was elected as the new chairman of Kangde Xin on July 23 last year.On January 1 this year, Kant’s new announcement announced that the Hong Kong High Court ordered the appointment of a liquidator on October 17, last year. The liquidation procedures have been completed and Zhide International has been formally declared bankrupt by the Hong Kong High Court.The company’s directors and directors’ rights to dispose of Zhide International Property have changed and the company has been ordered to be wound up and terminated.Sauna, Ye Wang Xiao Wei Li Yunqi Editor Chen Li proofreading Li Ming Reporter Contact: xiaowei @ xjbnews.com

SDIC Power (600886) 2019 Third Quarterly Report Review: Changes in On-grid Electricity Tariffs Slow Performance and Focus on Asset Transfer Process

SDIC Power (600886) 2019 Third Quarterly Report Review: Changes in On-grid Electricity Tariffs Slow Performance and Focus on Asset Transfer Process

Event: On October 30, the company announced the 2019 third quarter report.

The company achieved operating income of 322 in the first three quarters.

4.6 billion, +6 per year.

47%; net profit attributable to mother 43.

33 trillion, +20 for ten years.

51%; 19Q3 company realized operating income of 126.

37 trillion, +1 a year.

09%; net profit attributable to mother 20.

57 trillion, +1 a year.

58%.

Hydropower: On-grid electricity in Q3 exceeded flat, and on-grid electricity prices increased significantly8.

54%.

In 2019Q3, the total amount of hydropower on-grid of the company was 294.

5.9 billion kWh, a slight increase of 0 in ten years.

06%.

Among them, the Yalong River Hydropower has 267 grid-connected electricity.

8.6 billion kWh, +1 in ten years.

88%; SDIC Dachaoshan has 13.

800 million kWh, a substantial increase of 39 temporarily.

04%; the grid-connected electricity capacity of hydropower in Gansu is 12.

9.2 billion kWh, a significant increase of 45 temporarily.

75%.

In 2019Q3, the on-grid tariff of the company’s hydropower including tax is 0.

240 yuan / kWh, -8 per year.

54%, ranking the first half of the decline in electricity prices (-6.

(29%), and the sharp decline in electricity prices may 无锡桑拿网 be related to the continuous increase in the number of types of electricity marketed in some provinces and autonomous regions and the increasing scale.

Thermal power: Regional demand is improving, which will increase the amount of grid-connected power9.

08%, the on-grid tariff is 3.

41%.

2019Q3 company’s thermal power online power 174.

7.3 billion kWh, +9 for ten years.

08%, benefiting from the increase in the amount of power delivered by Gansu Province and Guangxi, the rapid growth of power consumption in Xinjiang, the company’s Gansu, Guangxi, and Xinjiang regional thermal power units significantly increased power generation, with alternate growth rates of + 24.

04% / 69.

97% / 100.

53%.

2019Q3 tax-included on-grid electricity price additional 3.

41%, in line with the decline in electricity prices 佛山桑拿网 in the first half of the year (-3.

37%) were basically flat. It is planned to transfer thermal power assets with weak profitability, and the profit margin of the thermal power sector may further improve.

The company issued an announcement on October 8 regarding the transfer of equity of some subsidiaries, and plans to transfer six thermal power assets with weak profitability.

In 2017, all five thermal power companies were at a loss (Zhangye Power did not disclose financial data in 2017). In 18 years, only SDIC Beibu Gulf, Zhangye Power achieved profit, but the average net interest rate fell by 1%.

From the perspective of asset evaluation, the net assets of the six target companies increased by 15%?
168%, the overall value-added rate is over 60%.

If the transaction goes smoothly, the company’s thermal power sector profit margin will further improve.

Investment suggestion: Maintain the rating of “Prudent Overweight”.

The company owns 52% equity of the Yalong River hydropower high-quality assets, with a total installed capacity of 16.76 million kilowatts of hydropower; another installed thermal power of about 15.76 million kilowatts of thermal power (if the six standard companies are excluded, the installed capacity is about 10.56 million kilowatts).

The policy encourages the consumption of hydropower in the province, and the “Yazhong-Jiangxi” UHV landed to guarantee the delivery of new production capacity.

As coal prices enter a downward path, thermal power earnings are expected to continue to improve.

Regardless of the impact of the transaction, we estimate the company’s net profit attributable to its mother to be 48 in 2019-2021.

90, 51.

17, 54.

5.7 billion, a growth rate of 12 in ten years.

0%, 4.

6%, 6.

6%.

Corresponding to the PE estimate of October 30th.

0, 11.

4, 10.

7x, maintaining the rating of “prudent increase”.

Risk reminders: Equity transfer is less than expected, coal prices fluctuate, online prices are lowered, incoming water continues to dry up, and new energy subsidy policies change.

Wuhan Fangu (002194): New cycle starts to improve revenue structure and profitability

Wuhan Fangu (002194): New cycle starts to improve revenue structure and profitability

Financial 杭州桑拿网 report: On October 24, 2019, the company disclosed the 2019 third quarter report.

In the first three quarters of 2019, the company achieved main business income11.

98 ppm, an increase of 41 in ten years.

48%; operating profit 1.

21 ppm, an increase of 342 in ten years.

87%; net profit attributable to mother 1.

180,000 yuan, an annual increase of 322.

49%; deducted non-net profit1.

14 ppm, an increase of 285 in ten years.

32%; net cash flow from operating activities1.

26 ppm, an increase of 581 in ten years.

80%; basic income is 0.

21 yuan / share, an increase of 324 in ten years.

87%; expected average return on net assets is 7.

19%, an increase of 10 from last year.

82 units.

In the third quarter of 2019, the company achieved main business income4.

50,000 yuan, an increase of 31 in 杭州桑拿 ten years.

68%; operating profit 0.

480,000 yuan, an increase of 155 in ten years.

50%; net profit attributable to mother 0.

480,000 yuan, an increase of 186 in ten years.

02%; non-net profit attributable to mother 0.

470,000 yuan, an increase of 299 in ten years.

52%; net cash flow from operating activities-0.

51 ‰, a decrease of 196 per year.

15%; basic profit income is 0.

09 yuan / share, an increase of 189 in ten years.

30%; estimated average return on net assets2.

84%, an increase of 1 from last year.

65 units.

Opinion: Company profile: The company is a leader in radio frequency, focusing on the filter field for nearly 30 years.

The main industry has a high degree of aggregation, and the revenue of radio frequency communication-related services accounts for 84%.

In the 4G era and Dafu Technology, Chunxing Precision has always had a relatively stable market share in the RF field.

The top five customers accounted for 96%, Huawei accounted for 49%, Ericsson accounted for 21%, and Nokia accounted for 20%.

A new cycle has begun, and RF device revenue has continued to grow rapidly.

Based on the rapid growth of Q1 and Q2 revenue, Q3 revenue decreased slightly from the previous month (-1.

24%), an annual increase of 31.68%, the highest growth rate in the third quarter since 2014Q3.

Revenue structure and profitability improved simultaneously.

In the first three quarters of 2019, the company continued to optimize the revenue structure, improve businesses with low profit expectations, and stimulated vitality and increased profitability by reducing staff and increasing efficiency, and distributing incentives.

In the first three quarters of 2019, the company achieved a gross profit margin of 21.

24%, the highest level in the past three years.

In Q3 2019, the company achieved a gross profit margin of 27.

19%, the highest level in a single quarter in the past five years, and at the same time significantly higher than the industry average.

During the period, the cost rate has steadily decreased.

During the first three quarters of 2019, the company’s period expenses were 12.

07%, a steady decline in the past three years, the median level of the industry.

5G ceramic dielectric filters have achieved mass production.

At present, some types of ceramic dielectric filter products have passed the customer’s phase certification. At the same time, the first phase of the 5G ceramic dielectric filter production planning project has been completed. The dedicated workshop and production line have been transformed and put into use. The follow-up company will continue according to market demandPromote the second phase of the 5G ceramic dielectric filter production planning project and accelerate the construction of 5G capacity.

In addition, several models of the company’s 5G miniaturized filters in the form of “all-metal” and “metal cavity + dielectric resonator” have been sold in bulk.

Investment suggestion: With the gradual opening of 5G investment, the filter industry has ushered in a rapid development stage with both volume and price rising.

The company is a supplier for Huawei, Ericsson, and Nokia. It has the competitive advantages of vertical integration and integration of the industrial chain and high-end ceramic dielectric filters. It has continuously improved market share while harvesting industry dividends.

As the company continues to accelerate the construction of 5G capacity and strengthen internal management, its profitability has continued to increase.

It is recommended to focus on long-term.

Risk reminders: trade war risks; downside risks to industry prosperity; risks of rising costs; risks of intensified industry competition; less-than-expected risks in technological development; less-than-expected profits in new production lines; exchange rate risks

Sinoma International (600970): Rapid increase in domestic income and improved cash flow

Sinoma International (600970): Rapid increase in domestic income and improved cash flow

苏州桑拿

The revenue growth in 19H1 exceeded expectations, and the cash flow in 19Q2 improved markedly.

3/7.

5/7.

4 billion, a year-on-year increase of + 12% / 16% / 19%. The increase in performance was mainly due to the increase in exchange income each year.

In 2Q19, the company realized revenue / attribution net profit62.

9/5.

2 billion, a year-on-year increase of +12.

7% / 10%, H1’s performance is slightly higher than expected, but domestic revenue has grown faster than expected, gross profit margin has improved, cash flow has improved, optimistic about the company’s cement engineering main industry industrial chain integration advantages, diversified business is steadily advancingIn the long run, there is a large space for engineering integration and collaboration.

Taking into account that the gross profit margin of H1 company is lower than expected, the EPS for 19-21 is slightly reduced to 0.

84/0.

95/1.

06 yuan (previous average 0.

95/1.

12/1.

27 yuan), with reference to comparable companies’ estimates, given the company 9-11x target PE, target price 7.

56-9.

24 yuan, maintain “Buy” rating.

Domestic income grew faster than expected, and the increase in foreign exchange earnings brought about a net profit increase of 19H1, and company revenue 113.

300 million, a year-on-year increase of +12.

4%, of which domestic revenue is 29.

90,000 yuan, +64 year-on-year.

5%, domestic revenue growth exceeded expectations.

19H1 company’s overall gross profit margin 16.

3%, a decrease of 1 per year.

6pct, mainly due to the increase in the proportion of domestic projects with reduced gross profit margins and diversified projects, and overall gross profit increased by 2%.

6%.

19H1 company period expense ratio 7.

3%, a decline of 2 per year.

2pct.

Among them, the management expense rate (including R & D) has dropped by 0 every year.

5pct; financial expense ratio decreases by 1 every year.

8 points, mainly due to exchange gains from exchange rate changes, 19H1 exchange gains of 6.6 million (18H1 exchange loss of 1).

51 billion).

Due to the significant increase in net exchange gains, the company’s net profit margin increased by 0 in 19H1.

2 points to 6.

6%.

19H2 The company’s operating cash flow changes 5.

4 trillion compared to the same period last year (-10.(9 million yuan) has improved, the 19H1 cash ratio is 96%, and it will be increased by 6pct in the future, and the 19H1 cash ratio is 105%, which will decrease by 4pct.

Q1 operating cash flow fell by 13.

600 million, mainly due to the three-year deferred collection project, Q2 realized operating cash flow inflow.

24 ppm, the company’s operating cash flow is expected to turn positive in the future.

The decrease in operating cash flow in 2018 was mainly due to the centralized payment to the subcontractors of the Egyptian GOE Beni Suef project in the same period last year, and the Egyptian project amount was 78.

45 ppm (including financial costs) is a ten-year payment item.

The cash flow during the construction period of the project in 19 years has ended. In the future, there will be more than 700 million repayments. We expect the company’s operating cash flow in 19 years will be positive.

19H1 new contracts signed a growth rate of 26%, to ensure future revenue growth 19H1 companies signed a new contract value of 15.2 billion US dollars, a year-on-year growth of 26%.

Among them, newly signed cement engineering and equipment contracts amounted to US $ 12.4 billion, an increase of 44% in one year, of which overseas contracts were US $ 8 billion, an increase of 23%, and internal contracts were US $ 4.4 billion, an increase of 109%.

New production and maintenance contracts were signed in the first half of the year.

800 million, more than 6 times a year.

Lowered the profit forecast and maintained the “Buy” rating. Considering that the company’s overall gross profit margin declined slightly in the first half of the year, the EPS for 19-21 was slightly reduced to 0.

84/0.

95/1.

06 yuan (previous value was 0.

95/1/12/1.

27 yuan). At present, the company’s estimated level is lower than the industry average. With reference to the average 10x estimate of comparable companies, we give the company a 9-11x target PE and a target price of 7.

56-9.

24 yuan (previous value: 10.

40-12.

30 yuan), the company’s current dividend yield of 4.

8%, maintain “Buy” rating.

Risk Warning: The growth rate of new growth orders is lower than expected, and the gross profit margin is lower than expected.

Anxin’s strategy-resumption of work will not reverse the moderate expansion of the main line of abundant liquidity growth

Anxin strategy: Resumption of work will not reverse the moderate expansion of the main line of abundant liquidity growth

For stocks, please read Jin Qilin analyst research report, authoritative, professional, timely, and comprehensive, to help you tap potential potential opportunities!

  [Anxin strategy]Resumption of work will not reverse the abundant liquidity, and the main line of growth will spread moderately Source: Chen Guo A-share strategy Chen Guo Yibin Xia Fanjie Investment points ushered in the opening of the market after the holiday, when most investors in the market are worried about the panic and confusion of the epidemicIn the midst of emotions, Anxin Strategy released “Grasp the” Golden Pit “and seize strategic opportunities!

The report stated clearly and clearly that “the market may quickly make up for losses after the holiday to complete the expected adjustment, but the market’s mid-to-long-term trends and the structure of the main line logic have not been damaged by the coronary epidemic.

The essence of the market to make up for the decline is actually a “golden pit” that brings strategic layout, especially the rare opportunity brought by the adjustment of high-quality technology stocks.

“In last week’s weekly report, we again proposed that the market logic would begin to shift to focusing on the gradual” resumption of work “in the industrial sector.

As the number of newly diagnosed patients in the country, especially in areas other than Hubei, continues to decline, the number of industrial departments in some regions has resumed work in an orderly manner, and the market is gradually panic about the epidemic this week.The upswings are basically related to the logic of “resumption”.

However, in the communication between us and the institutions, some investors also believe that after the resumption of work, the financial market liquidity partly returned to the entity. Therefore, after gradually resuming work, the stock market will enter a downward trend.

We do not agree with the fundamental point of view. We believe that the current financial markets and entities are not competing for liquidity in the stock environment, but are in a relatively wide margin environment. As long as the interest rates of financial markets and entities continue to show a downward trend, then resumption of work and liquidityThere is no contradiction in sexual affluence. We believe that the structural market will be concurrent without being damaged by the resumption of work. On the contrary, some industries related to the manufacturing industry are consolidated by the fundamental expectations, and the structural market is expected to continue.

  This week, the new rules for refinancing came into effect. We believe that this will bring benefits to companies with refinancing needs, especially the small and medium-sized city value growth stocks, so the main line of growth will also moderately diffuse, but we believe that based on the acquisition effect and registration systemReform background, the market will not return to the era of excessive speculation in M & A in 2015. Investors should still pay attention to the selection of high-quality small and medium-sized market capitalization stocks that can reasonably raise and strengthen.

Recent industry focus: electronics (semiconductor, Apple chain, etc.), computers (cloud computing, etc.), media (Internet, gaming, etc.), communications (optical communications, etc.), new energy vehicles (Tesla industry chain, etc.), military industries,Venture capital, real estate, etc. The index focuses on the GEM 50 Index, GEM Index, CSI 500 Index, etc.

The theme suggest to pay attention to new infrastructure, science and technology innovation board, hydrogen energy industry chain, WIFI6 and so on.

  ■ Risk Warning: 1.
The epidemic exceeded expectations, 2.
The economy has significantly lower expectations, 3.
Policy easing and low expectations.

  The market as a whole continued to grow in the regular text week.

This week, the Shanghai Composite Index, the small and medium-sized board index and the GEM index rose by 1 respectively.

43%, 3.

12% and 2.

65%, GEM refers to close at 2069.

22 points, a new high since December 2016.

From the industry index point of view, non-ferrous metals (10.

46%), building materials (8.

63%), agriculture, forestry, animal husbandry and fishing (7.

82%), real estate (7.

51%), electron (4.

52%) and other industries performed relatively well, and textile and clothing (-2.

96%), medicine (-1.

75%), media (-1.

06%), comprehensive (-0.

62%), public utilities (-0.

29%) and other industries underperformed.

  With the opening of the market after the holiday, when most investors in the market are in panic and confusion about the epidemic, Anxin Strategy released “Grasp the” golden pit “and seize strategic opportunities!

The report stated clearly and clearly that “the market may quickly make up for losses after the holiday to complete the expected adjustment, but the market’s mid-to-long-term trends and the structure of the main line logic have not been damaged by the coronary epidemic.

The essence of the market to make up for the decline is actually a “golden pit” that brings strategic layout, especially the rare opportunity brought by the adjustment of high-quality technology stocks.

“In last week’s weekly report, we again proposed that the market logic would begin to shift to focusing on the gradual” resumption of work “in the industrial sector.

As the number of newly diagnosed patients in the country, especially in areas other than Hubei, continues to decline, the number of industrial departments in some regions has resumed work in an orderly manner, and the market is gradually panic about the epidemic this week.The upswings are basically related to the logic of “resumption”.
However, in the communication between us and the institutions, some investors also believe that after the resumption of work, the financial market liquidity partly returned to the entity. Therefore, after gradually resuming work, the stock market will enter a downward trend.
We do not 北京夜生活网 agree with the fundamental point of view. We believe that the current financial markets and entities are not competing for liquidity in the stock environment, but are in a relatively wide margin environment. As long as the interest rates of financial markets and entities continue to show a downward trend, then resumption of work and liquidityThere is no contradiction in sexual affluence. We believe that the structural market will be concurrent without being damaged by the resumption of work. On the contrary, some industries related to the manufacturing industry are consolidated by the fundamental expectations, and the structural market is expected to continue.

  This week, the new rules for refinancing have been implemented. We believe that this will bring benefits to companies with refinancing needs, especially small and medium-sized market capitalization growth stocks. Therefore, the main line of growth will also moderately diffuse, but we believe that the market based on the acquisition effect will notReturning to the era of sporadic M & A transformation in 2015, investors still need to pay attention to the selection of high-quality small and medium-sized market capitalization growth stocks that can achieve reasonable financing to become larger and stronger.

Recent industry focus: electronics (semiconductor, Apple chain, etc.), computers (cloud computing, etc.), media (Internet, gaming, etc.), communications (optical communications, etc.), new energy vehicles (Tesla industry chain, etc.), military industries,Venture capital, real estate, etc. The index focuses on the GEM 50 Index, GEM Index, CSI 500 Index, etc.
The theme suggest to pay attention to new infrastructure, science and technology innovation board, hydrogen energy industry chain, WIFI6 and so on.
  1.复工与流动性宽裕不矛盾,预计结构性行情延续  随着全国尤其除湖北以外的地区新冠新增确诊总人数逐渐走低,一些地区工业部门陆续有序复工,本周市场也逐渐摆脱对疫情的恐慌Emotions, the main line as we expected to start around the expected return to work.
On the other hand, in our communication with the institutions, some investors also believe that after the resumption of work, the financial market liquidity partly returned to the entity. Therefore, after the gradual resumption of work, the A-share market will instead enter a downward trend.
We do not agree with this view. We believe that the current financial markets and entities are not competing for liquidity in the stock environment, but are in a relatively affluent environment. As long as the interest rates of financial markets and entities continue to show a downward trend, resumption of work andThere is no contradiction in abundant liquidity. We believe that the structural market will not be damaged by the resumption of work, but some industries related to the manufacturing industry have been strengthened by the fundamental expectations, and it is expected that the structural market will continue.
  From the high-frequency data, although the current rate of resumption of work is still low, with the subsequent clear diagnosis data, although it is not possible to rule out the trend of data in cities with high pressures of individual population inflows, but from the current situation, we expect nationwideConcerns about the second scale spread of the epidemic caused by the resumption of the Spring Festival transport will gradually be resolved, but with the recent progress of policies and measures to resume work and production in various places, the progress of the resumption of work in the next stage is expected to accelerate.Full return to work.
  The policies and measures for resumption of work and production continue to advance, and the progress of resumption of work is expected to accelerate.
On February 3, the meeting of the Standing Committee of the Political Bureau of the Central Committee sent a clear signal to the market: at the same time as fighting the epidemic, we will ensure the stable operation of the economy.
On February 8th, the State Council ‘s joint prevention and control mechanism issued the “Notice on Effectively Strengthening Scientific Prevention and Control of Epidemics and Orderly Doing Resumption and Resumption of Enterprises in Order” to ensure that the resumption and resumption of production resumed smoothly and smoothly.
On February 12, the Standing Committee of the Political Bureau of the CPC Central Committee further emphasized that the prevention and control of epidemic situation and economic and social development should be well coordinated.
On February 14, Fu Jinling, director of the Office of the Ministry of Finance’s Leading Group for Epidemic Response and director of the Department of Social Security, stated that in the future, relevant policies will be formulated to help small, medium and micro enterprises to reduce the burden and resume work as soon as possible.
  At the same time, various localities have also introduced various policies to help enterprises resume production and resume work.
On the afternoon of February 15th, Bai Tinghui, the director of the Shanghai SASAC, stated that as of February 14, the municipal SASAC system had monitored about 700,000 employees returning to work in the city, including about 180,000 people working at home, and the return rate was about 80%.
According to media reports from the Beijing State-owned Assets Supervision and Administration Commission, as of February 14, the headquarters of 43 municipal management enterprise groups in Beijing had resumed work, with 100% of them returning to work; 1089 second-tier and important subsidiary companies had resumed work.99.
7%.
  From high-frequency data, although the resumption of work at the micro level has just started, the overall economy is weak.
The coal consumption of the six major power plants remained low, reflecting the slow recovery of industrial production activities.
On the other hand, according to data released by the Ministry of Transport, affected by the epidemic, from January 25th to February 14th, a total of 2.
8.3 billion person-times and an average of 13.48 million person-times, a year-on-year decrease of 82.
3%, it is expected that the 40-day passenger flow of this year’s Spring Festival will drop 45% year-on-year.
  At the same time, the resumption of work is not the same as recovery. The objective reality is that the demand for the consumer service industry is still facing stage losses, and the pressure for steady growth throughout the year cannot be underestimated. Therefore, we expect that the loosening of the overweight and the downward trend of interest rates will not change in the near future.
We believe that the reduction of LPR and MLF interest rates, incremental MLF investment, and a comprehensive reduction of various monetary policy tools are still worth looking forward to.
For the stock market, the continued easing of monetary policy has pushed down interest rates, which is conducive to rising valuations and capital entry, and to companies with better medium-term profit prospects. Therefore, the foundation of the structural market will not be damaged.
  On the other hand, we don’t think that steady growth is equal to flooding with strong easing.
Recent policy-level information shows that new infrastructure and new consumption are expected to be the first to become an important driver of the impact of the hedging epidemic on the economy.
On February 15th, according to the Xinhua News Herald, Qiushi magazine published an important article, “Speech during the work of the Standing Committee of the Political Bureau of the Central Committee of the People’s Republic of China on Studying and Dealing with New Coronavirus Pneumonia Epidemic Situation.”
The article emphasizes, “Promote the construction of major projects.
The key is to choose the right project and ensure that the investment is accurate and effective.
It is necessary to seize the golden season of construction after the Spring Festival, increase the start of new investment projects, and actively promote projects under construction.
It is necessary to adjust and optimize the investment structure, and prioritize the investment in the central budget to urgently needed projects such as emergency medical treatment facilities and isolation facilities in epidemic-stricken areas.
It is necessary to focus on overcoming the last bastion of poverty alleviation, combining with the promotion of rural rejuvenation strategies, and taking epidemic prevention as the starting point to strengthen the improvement of rural human settlements and the construction of public health systems.
It is necessary to strengthen the guarantee of land, capital and energy consumption, and ensure that major projects, especially manufacturing projects, are started in time.
“The article also pointed out,” Efforts should be made to stabilize household consumption.
Increasing consumption is one of the important focuses to hedge the impact of the epidemic.
It is necessary to accelerate the release of emerging consumer potential, actively enrich 5G technology application scenarios, drive terminal consumption such as 5G mobile phones, and promote increased consumption in e-commerce, e-government, online education, and online entertainment.
It is necessary to better meet the consumption needs of residents ‘healthy life, and take this epidemic response as an opportunity to further cultivate residents’ healthy living habits, guide enterprises to increase the supply of related products and services, and expand the production and sales of green food, drugs, hygiene products, and fitness equipment.
“In general, we think that the current economic expectations are still difficult to recover bottoming out, liquidity remains reasonably ample but not flooded, and the market is often dominated by structural bull markets, and 5G and other technology industry cycles are superimposed by policy.As a result, the multi-industry business climate in the technology sector has shown an upward trend, and the growth from the top to the bottom has significantly dominated. From the bottom up, the absolute valuation and relative valuation of the growth style have not deviated significantly from the historical average.
Therefore, our assessment is that the current market characteristics are similar to the second half of 2013: the overall risk of the index is not great, but the elasticity will still come from the growth style.  2. New rules for refinancing are beneficial for small and medium-cap growth stocks, but there is still a need to pay attention to optimizing investment 2.
1. New rules for refinancing come into effect, reflecting market-oriented trends. On February 14, 2020, the CSRC issued
<上市公司证券发行管理办法>Decision “on the amendment
<创业板上市公司证券发行管理暂行办法>Decision “on the amendment
<上市公司非公开发行股票实施细则>At the same time, it also revised the Questions and Answers on Issuance Regulations — Regulations on Guiding and Regulating the Financing Behavior of Listed Companies.
This marked the official implementation of the new refinancing rules for public comments on November 8 last year.
  The refinancing rules involved mainly include streamlining issuance conditions, loosening non-public issuance systems, and giving listed companies scope for space.

This is an important reform measure undertaken by the CSRC to deepen financial supply-side structural reforms and enhance the ability of financial services to serve the real economy. We have issued a strategy report on this topic. Here we interpret the main points as follows:The choice of the pricing base date facilitates the interests of strategic investors and encourages strategic investors to actively participate in refinancing.

The pricing mechanism is more flexible and market-oriented, allowing a minimum of 20% off the average price of the company’s stock 20 trading days before the pricing benchmark date, which is conducive to increasing market game pricing space and higher investor safety.

The lock-up period has been extended to 18 months and 6 months in advance, and there are no restrictions on new regulations to reduce holdings, making it easier to increase participation and settle down.

The settlement of the core demands of the above-mentioned fixed-income market is expected to stimulate market investors’ participation in the non-public offering of subscription enthusiasm and activate the refinancing market.

Finally, the upper limit of the number of issuance objects has been unified to 35, which is conducive to reducing the number of issuances and reducing the difficulty for investors to participate in the fixed increase.

  GEM refinancing conditions are simplified. We found that out of the current 794 GEM companies, the asset-liability ratio has decreased by 45%, and the cancellation of this condition will expand the scope of GEM companies’ participation in refinancing.

At the same time, there were 125 companies that failed to make two consecutive years of profit in 17,18 years. These companies’ demands for frequent refinancing gradually gradually.

The simplification of refinancing conditions will help GEM play its refinancing function.

  The implementation of the “New Regulations” will bring about a major change in the refinancing market. Encouraging refinancing will also inhibit the speculation on small companies and junk stocks, and the system will be more complete and reasonable.

First, the relaxation of the refinancing rules will solve the difficulties and pain points in the process of gradual increase. It is expected that the fixed increase will once again become the mainstream method for refinancing of listed companies and will also become the main investment method in the primary and semi-markets again.The year-on-year growth market is expected to be significantly boosted.

In fact, the new regulations require issuing companies, major shareholders, actual controllers, etc. not to make any form of capital preservation commitments to the issuing objects, which will lead to the increase of the investment source, and the original intention is to find high-quality listed companies with undervalued values, rather thanAnother form of “bond issuance.”

Finally, we believe that the new rules on refinancing are conducive to the reasonable and reasonable financing of small and medium-sized growth stocks to become larger and stronger.

However, due to the continued pain of goodwill impairment after the hype of M & A in 2014-2015, coupled with the background of the reform of the registration system, we believe that the market will not return to the era of speculative transformation of “junk stocks” M & A.

Investors should still pay attention to the selection of high-quality small and medium-sized market capitalization growth stocks that can achieve reasonable financing to become larger and stronger.

  Risk Warning: 1.
The epidemic exceeded expectations, 2.
The economy has significantly lower expectations, 3.
Policy easing and low expectations.

McGmitter (002851) Quarterly Report Review: Performance Exceeds Expectations, Platformized Layout Helps New Business Development

McGmitter (002851) Quarterly Report Review: Performance Exceeds Expectations, Platformized Layout Helps New Business Development
Matters: The company released the third quarter report of 2019, and the first three quarters achieved operating income26.USD 5.2 billion, an annual increase of 64.67%; realize net profit attributable to shareholders of listed companies.7.6 billion, an annual increase of 125.10%; net profit attributable to non-recurring gains and losses attributable to shareholders of listed companies2.USD 5.2 billion, an annual increase of 144.17%. The company’s performance slightly exceeded market expectations. Ping An’s point of view: Performance has maintained high growth, and multiple businesses have continued to exert their strength: the company achieved operating income in the first three quarters26.USD 5.2 billion, an annual increase of 64.67%; net profit attributable to mothers2.760,000 yuan, an increase of 125 in ten years.10%; net profit attributable to non-recurring gains and losses attributable to shareholders of listed companies2.520,000 yuan, an increase of 144 in ten years.17%.The company achieved operating income in 3Q19.92 ppm, an increase of 71 in ten years.08%; realized net profit attributable to mother 1.14 ppm, an increase of 99 in ten years.02%.The company’s business development situation is good, including new energy vehicles, smart bathrooms, smart welding machines, inverter appliances and flat panel display and other businesses continue to grow rapidly, driving the company’s performance to maintain a high growth momentum. The new energy vehicle business benefited from BAIC ‘s volume and maintained rapid growth: the company ‘s new energy vehicle business grew by 215% in the first three quarters. The company is the main supplier of electronic control for BAIC ‘s EU and EX models. It supplies PEU products to BAIC.About 10,000; through product optimization and upgrading, costs have been further reduced.In the first three quarters of 19, BAIC’s new energy passenger car production was close to 100,000 units, each of which increased by more than 20%, of which the first three quarters of the EU series supplied by the company were 7.50,000 vehicles, a growth of nearly 500% in ten years.The continued heavy volume of BAIC’s high-end models is expected to promote the company’s new energy vehicle business to maintain rapid growth momentum. The smart bathroom business has gradually improved, and the industrial power business has benefited from 5G construction: the company’s smart bathroom customers include Huida, Wrigley, Moen and other first-line bathroom brands. In the first half of 19, it was affected by the concentration of Zhimi products in the same period in 18, and the growth rateit has been improved.Since July 19, the company’s orders have improved, and orders from customers other than Zhimi have been steadily increasing. The expansion of the company’s bathroom customers has been shifted, and the sales structure has been continuously optimized.It is expected that the real estate enters the completion cycle and the gradual clearing of low-end production capacity in the industry, and the smart bathroom business is expected to maintain steady growth in the next few years.The company shows that the power supply business maintains a better growth rate. The main customers of the communication power supply business include system integrators and overseas communication equipment manufacturers such as Ericsson and Siemens. It is expected that the 5G construction in China will promote the domestic power supply business and the communication power supply business will maintain a high growth rate. The advantages of the platform layout are obvious, and new businesses such as intelligent welding machines and oil production equipment are developing smoothly: the company’s R & D expenses account for about 10% year-round. The continuous high R & D investment has enabled the company to build on the basis of power electronics and related control technologies.The core technology platform is based on power conversion hardware technology, digital power control technology and system control and communication software technology, and the product layout is realized on this platform.At present, the company’s intelligent welding machine business is growing rapidly, and its main customers include large manufacturing state-owned enterprises. Intelligent oil extraction equipment has gradually been delivered in batches. It is expected to have revenue of more than one million yuan in 19 years. Benefiting from the growth of investment in the oil and gas industry, the company’s intelligent oil production equipment is expectedGradually began to increase volume and become the company’s next growth point. Investment suggestion: The company takes power electronics technology as its core, and has achieved a good business layout in the four major areas of smart home appliances electronic control, new energy vehicles and rail transit, industrial automation and industrial power. While existing businesses are growing at a high speed, new businessesIt is also entering the harvest period. In addition to benefiting from the growth of existing new energy vehicles, inverter appliances and smart bathrooms, the company’s spending on core technology platforms will continue to promote the good development of emerging businesses in the long run.Taking into account the continuous growth of downstream demand and the company’s business development exceeding expectations, we raised the company’s EPS forecast 四川耍耍网 for 19/20/21 to 0.77/0.96/1.26, the previous values are 0.66/0.83/1.04 yuan, corresponding to the closing price of PE on October 29 were 25.4/20.3/15.5. Maintain the “Recommended” level. Risk reminders: 1) If the sales of new energy vehicles are less than expected, it will interfere with the company’s sales of new energy power electronics and drive products and affect the company’s profits; 2) If the market demand for smart home appliances is less than expected, the company willBusiness in the field of home appliance electrical control will be affected; 3) If the price of raw materials such as IGBT rises, it will affect the company’s gross profit margin.

Don’t let the mood be rainy

Don’t let the mood be “rainy”

The continuous spring rain, the sticky air, and the grey sky become “more dense”.
Under this sky, our mood “can’t help it” has become “grey” and “rainy”.
“So depressed”, “exhausted” and “so boring” have become our mantras.
I wondered, where was the happy and passionate you hiding?
Why does it all get so bad?
How can we reproduce the “clear sky”?
In this regard, psychologists said that temperature, humidity, air pressure, sunlight, etc. in our lives will affect mood.
In spring, it is cold and hot, low air pressure, high humidity, and rain and rain, and the sun is rare. Those depressed and irritable negative emotions are more likely to come in, and the mental illness is more likely to be repeated.
An epidemiological survey at the University of Munich in Germany also found that human emotions are closely related to climate change.
For example, in hazy weather, the sky is dark and the air is dirty, which easily stimulates the visual center of the brain, causing people to have depression and pessimism.
Emotion transfer method 1. Go to exercise.
During exercise, the brain releases endorphins, a veritable excitatory hormone.
Therefore, doing more sports, such as running, jogging, yoga, playing ball, dancing, etc., can help you get rid of stress and stay alive.
2. Close to nature.
The famous French writer Moaro believes that the most extensive and benevolent sanctuary is nature.
The vastness of forests, mountains, and the sea makes individuals seem small.
The grudges between people are not worth mentioning, and the trauma of the soul can be soothed.
Therefore, if you put yourself in the embrace of nature, go to the mountains and look at the flowers and plants, all your worries will drift away with the wind, and your mood will return to peace.
It is recommended to set foot in the countryside on weekends to experience nature.
If the economic situation and time permit, it is better to let go of your work and travel for a while to enjoy complete relaxation.
3. Talk to a friend.
Bacon said, “If you tell happiness to a friend, two people will share happiness, if you pour out sorrow to a friend, you will be divided into half sorrow.
“So, when you are unhappy, you can find out your friends and have a chat, and talk about your bad emotions in order to get the sympathy, enlightenment and comfort of your friends.
At the same time, you can get more emotional support and understanding as you talk about your troubles.
4. Listen to music and sing.
Music helps to regulate emotions. When you are in a bad mood, don’t forget to listen to your favorite song, or open your throat to express a song that expresses your mood at the moment.
With singing, your feelings of depression, depression, or sadness can be released.
5, shouting to solve Qian worry.
When the heart is depressed, you will feel a breath of gas in your heart, and you will feel uncomfortable without venting it.
At this time, you can go to the open place and make a shout of your heart.
When you shout, try to confide what you feel depressed.
The more authentic and thorough this disclosure is, the better.

Watch out for heart trouble in the office

Watch out for “heart trouble” in the office

Not long ago, China Human Resources Development Network launched the “2005 Chinese Mental Health of Employees” survey.
Of the 5,000 people surveyed, 25.
04% have a certain level of mental health problems, which means that one in every four respondents has mental health problems.
Further data analysis shows that the psychological health problems often encountered by the respondents are: feeling unhappy, depressed, irritable, hesitant, doubtful or despising themselves, always feeling that they are not important in their work.
  In life, we are all concerned about our physical health, but we often overlook our mental health.
Competition in the workplace is intensifying. Long-term psychological pressure has caused serious imbalances in the workplace, which has led to the emergence of mental health problems, which directly affect their work and life.
  Inferiority and inability to see your own value Wang Wang 璞 25years old magazine editor
In the year she left Shanghai, she became more and more plain and unaffected by the influence of simple folk customs in Bianyushan Village.
Two years ago, she applied to be an editor at the current magazine.
Naturally short and unobtrusive, she always deals with her appearance and clothing in the simplest and most economical way.
Wang Yan is very personal. She has just joined the work, she is passionate about everything, she is conscientious and responsible, and she has a lot of energy. She works hard and is happy.
Wang Ye’s writing is good, so the magazine agency asked her to take charge of the more important fashion sections.
  But this arrangement annoys a bunch of beauties in the office: Does she know fashion?
No matter how good the writing is, don’t look at your own morals . The words of wind and wind are constantly pouring into Wang Xi’s ear.
Wang Ye looked around, and the beauties dressed in fashion drifted past her like a scene of moving scenes; then look at herself, the bottom of the box, facing the sky, like a cute village aunt.
This episode interrupted her excitement by half, and she no longer felt right about walking, and went wherever there were few people.
She also tried to change her image with fashionable dressing, but the “plain” in her bones made her unable to “foreign”.
  Wang Biwen’s pen is really good, but it is an airy style.
But the most attractive aspect of fashion is the kind of charm and enchantment that is essentially reflected, including text.
This undoubtedly presents another problem for Wang Ye. The so-called text is like him, and Wang Ye’s words are also plain and plain.
Soon the leader also discovered this problem and gave her the opportunity to change, but it is easier to change a person’s writing style in a short period of time, and her advantages are gradually overwhelmed.
In the end, the leader also gave up and pulled her out of the fashion section.
  Constant frustration made Wang Xi’s self-confidence disappear little by little. She could not see her own value, and her original health and liveliness had disappeared.
She looks forward to her change and strives to make it happen.
Later, she really changed, but she became sensitive, fragile, and timid. She is no longer the original Wang Xi.
  A low diploma made her mentally unbalanced. Lin Linxi, a 32-year-old employee of a trading company, graduated from an adult college. She entered the company through a friend relationship, also known as “opening the back door”.
But when she joined the company, it was the time when the three generations of the old, the young, the young, and the middle generations alternated. In addition, she was smart and active enough to cope with the work, so her disadvantage was not obvious.
  However, with the retirement of older employees in batches, the number of new college students has continued to increase, and the company has gradually expanded. Gradually, Lin Xi feels that coping is no longer easy.
First of all, her diploma is not worth mentioning in front of the famous university students. Secondly, foreign trade, language is the key. Previously, everyone’s foundation was not good, so she can still support, not to mention that, after all, she was young and depended on it.Self-study is still okay to deal with ordinary work, but now the first thing that new employees pass is the language barrier, so Lin Xi’s shortcomings quickly become apparent.
Some important customers and lists have gradually become the treasures of those excellent younger generations, while Lin Xi’s work is becoming more and more marginalized.
  She was not convinced. After all, she was not old enough and wanted to go to tuition in her spare time.
But in the end, people are in their thirties and have just given birth to their children. With this energy, it is enough to cope with their current work and life. How can they make time to learn English?
Looking at the young man’s high toes, he couldn’t swallow that breath.
  Sometimes, it is normal for work to collide with colleagues, but in Lin Xi ‘s view, others always think that others are intentionally embarrassed, and bullying her does not have a good diploma. Therefore, she often fights for a little thing to be blushing with red eyes.Domineering posture.
Over time, colleagues in the office began to alienate her intentionally or unintentionally, which made her feel more aggrieved, and her temper became more and more irritable and irritable, sometimes it was unreasonable, and colleagues who knew her said that she had changed.
  When she was calm, Lin Xi also regretted and was very distressed, but her stubborn personality made her unable to put down her posture and had to hold her back.
This situation made her very scared, afraid that she would be out of control, and even more afraid that such an emotion would one day affect her family life, which was a result she did not want to see.
 Constant hard work makes her exhausted. 炎 Zhao Yan, 29-year-old assistant to the head of the securities company, Zhao Yan graduated from a prestigious university with a lovely appearance and a beautiful figure.All this made her confident in her future, and her parents, relatives and friends were very optimistic about her.

After work, her ingenuity made her the best among employees.

So, after seeing her strength, she hoped to design goals for the future and work hard.

She was praised for her excellent work, and of course attracted a lot of gossip and sarcasm.

Zhao Yan’s easy-going personality made Zhao Yan take all this very lightly. She would not take into account that others only think that she only cares about her own development and leadership.

  However, Zhao Yan’s efforts did not bring her due return, even if it was a positive from the leader.

In the second year after taking part in the work, the leader orally praised the employees who had worked hard and had outstanding performance at the work summary meeting at the end of the year, without her.

This is indeed a big blow for Zhao Yan, because it shows that she is part of the leadership and also an evaluation of her work.

She was very unhappy, but she couldn’t say clearly, let alone talk to a leader.

Of course, Zhao Yan still has confidence in herself. She firmly believes that, depending on her abilities and performance, she will soon and quickly lead the leaders to look at her.

After that, Zhao Yan began to work harder, working much more than 8 hours a day.

Because Zhao Yan University’s major is finance and her intentions, her market analysis report is always the most convincing.

The leader gradually began to value her ability and essence, and often re-ran some important tasks to her to implement and deal with, which made Zhao Yan see hope again.

  As a result, Zhao Yan gave up almost all of her spare time. Every day, except eating and sleeping, was work.

But she is willing, because this is the only way she can achieve her goals.

The company has regulations that new employees can compete for middle-level cadres after three years of outstanding work.

Finally in 2003, Zhao Yan was promoted to the backbone of the company’s business, but this painless “book cover” left her depressed for a long time.

In any case, she still had a little gain and affirmation, and went one step further from her goal, although this step was not great.

Zhao Yan felt that what she lacked most now was English, so tutoring English became another focus for her.

  Last year, Zhao Yansheng, who has performed well in various fields, served as the assistant to the department head. However, at this time, she was no longer happy. She felt from physical exhaustion-she had worked very hard and her performance was very good, but she was affirmed by her.Always so shy.

29 years old is no longer young for women, and she has not enjoyed love so far.

As she gets older, her advantages will gradually disappear, and the newcomers are prepared, which makes her feel more stressed.

Zhao Yan couldn’t see her future more and more. She began to worry, irritable, and work for her own future.

  Experts remind that the pressure caused by salary distribution, work performance and personal development has penetrated into all aspects of our work and life.

This kind of pressure can cause some mental illness in professional people at different levels.

  Zhang Xichao, a lecturer at the Institute of Human Resources and Management Psychology, School of Psychology, Beijing Normal University, put forward the concept of “occupational stress management” in response to this phenomenon.

The concept is not to completely eliminate this pressure, but to alleviate or disperse it.

  There are many ways to decompress, you can go on a trip to relax, you can strengthen physical fitness, you can seek the emotional care of relatives and friends, you can also learn some time management methods, improve work efficiency and work skills, and so on.

There are a variety of methods, and one of the fundamental principles is: either change your response to the situation, or change the way you look at the situation.

  There is a short story about stress management: the trainer picked up a glass of water in the classroom, and then asked the audience: “How much do you think this glass of water is?

“Some say it’s half a catty, some say it’s a catty, and the lecturer says,” The weight of this glass of water is not important. What’s important is how long you can take it?

Take one minute, anyone can; take an hour, you may feel sore; take a day, you may have to go to the hospital.

Actually this glass of water has the same weight, but the longer you hold it, the more heavy you feel.

It’s like we are under pressure. If we keep putting pressure on ourselves, we will definitely feel more and more unbearable in the end.

What we have to do is put down this glass of water, take a break and then pick up this glass of water so that we can hold it longer.

Therefore, you should put down the pressure you bear in time and take a good rest after you shorten it, and then pick it up again, so that you can take longer.

“The workplace has left everyone with sweat and pain, and also records laughter and achievements.

Relaxing your mind and putting your mind right can really turn work into something you can look forward to.

Eating 6 types of meat is good for men

Eating 6 types of meat is good for men

Loach loach expects high-quality protein, calcium, phosphorus, iron, vitamins, and niacin.

With Buzhong Yiqi, Bushen Shengjing effect.

  Adult men often drink loach soup, which can nourish the body, enhance physical strength, and improve sexual function.

  Donkey meat says, “Dragon meat in the sky, donkey meat on the ground.”

Donkey meat has a delicate taste and is a high protein, low fat meat.

Chinese medicine believes that donkey meat has the effect of nourishing qi and blood and nourishing liver and kidney.

  Adult men often eat donkey meat can improve the symptoms of weakness in the waist and knees caused by liver and kidney deficiency, erectile weakness and other symptoms.

  Pigeons Pigeons are also known as “white phoenixes”. The males and females mate very frequently and have a strong ability to reproduce.

Pigeon meat and pigeon eggs are rich in protein, skeleton, vitamins and iron, zinc and other nutrients.

It has the effect of nourishing kidney and filling essence, warming Yang and benefiting qi.

  Steaming or soup with pigeon meat, pigeon eggs and wolfberry can make penis erection stronger.

  Quail Quail meat is almost crispy and delicious and nutritious.

Quail meat and quail eggs contain a variety of essential amino acids, inorganic salts and so on.

It has the effect of nourishing kidney qi, strengthening waist and knees, and is a nourishing wonderful product.

  Regular consumption by men can improve high blood pressure and libido.

  In Lamb’s Compendium of Materia Medica, mutton is compared with ginseng, and it is considered to be top-quality meat that is tonic, strong, and strong.

Modern nutrition also confirms that mutton is almost nutrient-rich and also contains trace sex hormones, which indeed have aphrodisiac effects.

  However, mutton should not be eaten with vinegar and tea, otherwise it will reduce the effect of aphrodisiac, produce crystalline acid protein, and cause constipation.

  Dog Meat In some regions and ethnic groups, some people like to eat dog meat.

Dog meat is warm, with kidney and aphrodisiac, warming stomach and strengthening spleen.

Dog meat often eaten in cold seasons not only protects against the cold, but also has a certain therapeutic effect on impotence and premature ejaculation.

  However, some people believe that dogs are the most loyal companions of humans, so it is best to eat less or no dog meat.

Teach your baby to learn seven steps

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Teach your baby to learn seven steps

Today is “Global Handwashing Day”, which was initiated and guided by the World Health Organization in 2005. The goal is to strengthen health awareness to prevent infection by infectious diseases through the simple but important action of “handwashing” all over the world.

  We often teach babies to love cleanliness and hygiene, and to wash their hands before and after meals, but is your baby washing his hands right?

  Proper washing of hands can prevent diseases. Hands have the highest chance of contact with the external environment and are most susceptible to various pathogenic bacteria, especially children who ca n’t keep their hands, and want to touch them everywhere.

If you use this little dirty hand to grab food, rub your eyes, and touch your nose, the germs will take the opportunity to enter the baby’s body and cause various diseases.

Washing your hands often and properly can significantly reduce various pathogenic bacteria on your hands and effectively prevent colds, diarrhea, pneumonia, gastroenteritis, meningitis, hepatitis, bacterial dysentery and other diseases.

Therefore, hand washing can be said to be the simplest and most effective preventive measure in daily life, and it is the first line of defense against disease.

  Let your baby learn how to wash your hands with the seven-step hand-washing method. The doctor recommends the seven-step hand-washing method. The specific operation is as follows: Step 1: Wash your palms.

Wet your hands with running water, apply hand sanitizer (or soap), palms facing each other, rub your fingers together and rub each other; Step 2: Wash your back finger seams.

Rub the palms of your hands along the back of your fingers and exchange your hands. Step 3: Wash your palms.

The palms are facing each other, and your hands are rubbed against each other along the finger seams. Step 4: Wash your fingers.

Bend each finger joint, half-fist, put the back of your finger on the other palm, and exchange your hands. Step 5: Wash your thumb.

Hold the thumb in one hand and rotate and rub with your thumb.

  Step 6: Wash your fingertips.

Bend each finger joint, put your fingertips together on the palm of the other hand, rotate and rub them, and exchange your hands. Step 7: Wash your wrists, arms, and hands.

  The whole process of the seven-step washing method should carefully rub your hands for more than 15 seconds.

In addition, in daily life, as long as it is in contact with places that may be contaminated, such as hospitals, buses, etc., then you should try to wash your hands at home for more than one minute and wash every corner.

  When washing your hands, you must use running water to wash your hands with soap and liquid soap. You should use your hands to hang down and let the water from your wrist, back of your hand to your fingertips in order to prevent the dirty water from contaminating your wrist and forearm again.
Washing hands with washbasin will greatly reduce the effect of removing pathogenic bacteria. If several people wash their hands in the same basin of water, it will not have the effect of removing bacteria, and may even cause cross infection and become infected with more pathogenic bacteria.

  Is it better to wash your hands with soap or liquid soap?

Are antibacterial soaps and hand sanitizers more effective?

In fact, at home, as long as you fully wash your hands according to the steps, soap or hand sanitizer, there is not much difference between anti-bacterial and anti-bacterial.

However, in public places, hand sanitizer is relatively more suitable than solid soap, because a certain amount of hand sanitizer is obtained after each replacement without the problem of contamination, and solid soap is easy to be affected by being placed and repeatedly contacted by people.A kind of pathogenic bacteria pollution.

If you have come in contact with the source of infection (such as after caring for a patient), you can use alcohol-based disinfectant hand sanitizer for further disinfection and cleaning.

  When is it necessary to wash your baby’s hands? In general, you must urge and help your child wash his hands in the following situations: before each meal or before contacting food; before and after going to the toilet; after playing with animals; after outdoor activities or going back outAfter going home; after coughing, sneezing, blowing your nose; when there are obvious stains on your hands; after contact with the patient.