Black Warrior Chen Peide unveiled the Taekwondo Center

“Black Warrior” Chen Peide unveiled the Taekwondo Center
On the 7th of January, Zhao Lei, former deputy director of the Boxing Taekwondo Sports Management Center of the General Administration of Sport, was sentenced to 10 years in prison by the Beijing Second Intermediate People’s Court for bribery.The anti-corruption punch of the Chinese sports world finally hit the National Games!The day before yesterday, the anti-black warrior and the former director of the Zhejiang Sports Bureau Chen Peide said: In the past, many things were wrapped up, and now in the context of the central government’s anti-corruption efforts, these have been exposed.This is the first official sentenced because of the National Games, but I think he (Zhao Lei) will not be the last. With such anti-corruption efforts, it is definitely a good thing for the development of Chinese sports!Chen Peide (Information) There are four major problems in the National Games. In 2001, Chen Peide and Song Weiping set off a black sweeping storm in football, so they have the title of black sweeping fighters.In fact, in addition to fighting against corrupt officials and players in the fake ball and black whistle in the football circle, Chen Peide has also been fighting the shady of the National Games.Regarding the problems of the National Games, Chen Peide concluded that there are four points: First, record-breaking projects (such as track and field), mainly by taking stimulants to improve performance.Second, the whistle-blowing items (such as football) are mainly won by buying referees.Third, scoring projects (such as gymnastics) are to do well the work of the center’s leaders and referees in advance to achieve the gold medal’s stated purpose.The fourth is in terms of athletes’ qualifications, some are mercenaries who do not follow normal procedures, and others are age-based.I think these four points are the main problems of the National Games.I once mentioned the Taekwondo Center with the Central Inspection Team. In July last year, the Central Inspection Team entered the State Sports General Administration. At that time, the inspection team called Chen Peide to give him some views on the shady scene of the sports circle.Chen Peide said that he wrote a report to the inspection team: I later saw the inspection team’s summary report, which quoted some of the original words in the report I wrote.  Afterwards, Chen Peide also accepted the inspection team’s call, and the inspection team hoped that he could go to Beijing to discuss in detail.Therefore, Chen Peide immediately bought a flight ticket to Beijing and chatted with the members of the inspection team for a long time.I told the inspection team that some management centers had problems, and (I) mentioned the Taekwondo Center.In the previous Taekwondo competition, there was such a problem of falling over when you touched it, which must arouse the awareness of all parties.

Daoda investment notes: A shares violent rebound Northbound funds continue to buy

Daoda investment notes: A shares violent rebound Northbound funds continue to buy
Source: Daily Economic News The market the day before yesterday was a concentrated release of sudden systemic risks. Yesterday’s market was a concentrated release of bullish counter sentiment.Most of the “positions” we could see rebounded across the board yesterday.  Although one day of violent rebound is not enough to explain the problem and not enough to regain lost ground, but I want to say that violent rebound is a good start and comes very timely. This is the positive energy we need in the current environment.To express, it is-cool!  Market review Yesterday the market changed dramatically.  First, the U.S. stocks rebounded overnight, and the Nasdaq index rose by 1.34%, the technology stocks are collectively better, and the new energy vehicle 苏州桑拿网 leader Tesla has soared 18%, setting a record high.  The rebound in US stocks is certainly good news for the Asia Pacific market.Yesterday morning, the Japanese stock market, which was the first to open, rebounded, and the Nikkei 225 index rose 0.49%, the market panic was relieved.Immediately afterwards, the A-share market performed well.Although the Shanghai index opened lower than 60 points, it quickly rose and turned red, and continued to rise in the afternoon. Eventually, the Shanghai Stock Index rose 36.68 points to 2783.Closed at 29 o’clock, the increase was 1.34%.Even stronger was the GEM Index, which rose 4%.84%. The huge gap left the day before yesterday has been covered to a great extent. At present, the gap is only 17.48 points.GEM’s strong performance exceeded Dago’s expectations.The science and technology innovation board performed better. Only four of the 91 science and innovation board stocks fell, and 41 stocks rose more than 10%.  In other respects, A50 index futures are also very powerful.During the Spring Festival in 2020, the A50 was the worst to fall, but it rebounded strongly 4 yesterday.75% is also the largest increase.  Looking at the Hong Kong stock market, the Hang Seng Index rebounded for two consecutive days, and rose another 319 points to 26,675 yesterday.It closed at 98 points, an increase of 1.twenty one%.The Hang Seng State-owned Enterprise Index, which has the closest relationship with A shares, also increased by 1.63%.  In addition, the renminbi exchange rate against the US dollar has recently rebounded strongly after continuing its recent decline.In addition, European stock markets also opened higher after the market closed yesterday.When the three major European stock indexes terminated Dago’s press release, they all rose by more than 1%.  Well, Dago doesn’t want to use so many pens in his handwritten article to review the market today. As long as you pay attention to the market, the trends of these indexes can be seen, but in the current environment, I think if time goes backIn 2008 and 2015, when the market suffered a severe blow, and then there was a strong rebound like yesterday, in fact, we also need to present and review the market performance for everyone. This is the positive energy required by the current environment.  Northbound funds The day before yesterday, Dago exchanged views on northbound funds with you.According to data from Dongfang Wealth.com, the northbound funds bought nearly 20 billion the day before yesterday. I judged at this time that the high probability of northbound funds was correct.  Yesterday, looking at the performance of northbound funds, the Shanghai Stock Connect bought a net 13.3.2 billion yuan, Shenzhen Stock Connect net purchase 66.5.6 billion, a total net purchase of nearly 8 billion.Although I bought a little less than the day before yesterday, we must know how much courage and wisdom is required for the northbound capital investment to create a record-breaking record in the history.It is important that the stocks that Beibei bought from the capital the day before yesterday rose sharply.  Specifically, the stocks that Beitian bought from the capital the day before yesterday, such as Ping An of China, Maotai of Guizhou, Gree Electric Appliances, and the Ningde Times, rose sharply yesterday, and the Ningde Times even had daily limit.In fact, the northbound fund hunt was too successful.The net purchase of Makihara shares was also closed yesterday with daily limit.  In addition, according to data from Dongfang Wealth.com, Northbound funds continued to buy Guizhou Moutai, Gree Electric Appliances and Ningde Times yesterday, net selling Ping An of China and Hengrui Medicine.  Dago should continue to pay attention to the movement of northbound funds, and advise investors to continue to pay attention.If one day the northbound funds suddenly start to evacuate, vigilance is needed.  What will happen after the sandbox deduces that the market is soaring?This is also a question that everyone is very concerned about.  In my opinion, the strength of the market’s rebound yesterday exceeded market expectations, just as the level of the previous day’s plunge also exceeded expectations.This may be the trend of extreme prices under sudden major negatives.  Of course, a one-day rally may not break through the “alarm” and the market will repeat in the future. The performance of the A-share market yesterday has given us confidence to a certain extent, which is very important.  In addition, in yesterday’s rally, the differentiation of individual stocks is still relatively obvious.Only more than 500 stocks fell in the Shanghai stock market, and nearly 900 stocks fell. More than 800 stocks in the Shenzhen stock market increased, and more than 1,300 stocks fell.  Yesterday, the market performed the best. In addition to the anti-epidemic concept stocks, it was necessary to count the strongest sectors in the previous period.Such as wireless headphones, Tesla, software, integrated circuits, etc.In my opinion, as far as the future market is concerned, these are the sectors worth tracking in the medium and long term.  CSI 300 Index Position Reference Yesterday Position: 60% Today’s Position Plan: 61%. This position is a non-solid position reference combined with trend research. It is not used as a basis for trading. Please pay attention to investment risks.  Second, the target of this position tracking is the Shanghai and Shenzhen 300 Index, in order to track the changes in the index, to avoid the effect of differences in open stocks.

Enjie (002812): 3Q19 performance forecast is slightly higher than expected. Global quality customer expansion drives growth in volume and profit.

Enjie (002812): 3Q19 performance forecast is slightly higher than expected. Global quality customer expansion drives growth in volume and profit.

The company forecasts a profit growth of 1-3Q19 in the ten years 82.

52-93.

37% of the companies issued a third-quarter performance forecast, expecting a profit of 1-3Q19 to reach 5.

89-6.

2.4 billion, an increase of 82.

52% -93.

37%, of which 3Q19 profit reached 2-2.

35 trillion, with an increase of 23.

97% -45.

66%.

The crack business achieved a net profit of 1-3Q19.

04-6.

3.8 billion, an increase of 49.

77% –杭州夜网论坛58.

26%, corresponding to 3Q19 broadband business net profit reached 1.

96-2.

300 million, an increase of 8-26%.

The profitability of business development and traditional business is better, and the performance forecast is slightly higher than our expectations.

Focus on breakthroughs. Single-level profit is improving. Cost reduction is driven by high-quality customer expansion.

Company 1H19 budget 3.

500 million flats, we expect the company’s 3Q19 expansion and restructuring volume at 1.

75-2.

100 million flats, corresponding to 3Q19 coaxial single flat profit reached 1.

1-1.

12 yuan / flat, 1-3Q19 coaxial single flat profit reached 1.

14-1.

15 yuan / flat.

Considering that there were no announcement-related supplements in 3Q19 and asset-related supplements had a small impact on single-quarter profits, we believe that 3Q19 companies deducted non-single flat profits instead of 1H19.

We analyze the main factors for the improvement of profitability: 1) Zhuhai and Jiangxi’s new production capacity climbed, and the improvement of the yield rate led to the decline in comprehensive costs.

2) Overseas customers are progressing smoothly, and export products are more profitable.

3) In 3Q19, the price drop in the domestic market was limited, and the company’s fee control was appropriate.

The industry has been further integrated, and the trend of shifting the supply of overseas customers to China has been determined. The company continues to benefit from leading the industry.

The company intends to acquire Geely. If completed, the market share will be further increased, and at the same time, it will be strengthened in the consumer field.

We believe that the end-of-line companies in multinational industries will accelerate the clearance, and the enterprises in central China are facing integration, and the industry will usher in further reshuffles, which will benefit the leaders.

In overseas markets, affected by Japan-South Korea trade friction and cost reduction of lithium batteries, Samsung and LG Chemical will begin to supply from Asahi Kasei, while Toray will turn to Chinese and Korean domestic suppliers.

At the same time, driven by European car companies, demand for overseas power lithium batteries has grown rapidly.

The company has entered LG Chem, Samsung SDI, and Panasonic supply systems and has benefited significantly.

The profitability of traditional businesses was restored in the third quarter of 1919.In the third quarter of 19, the company’s traditional business net profit reached 23.53-27.53 million yuan. We believe that the corresponding net profit margin is about 8%, which is higher than 1 in 3H19.

9%, restored to 1H18 level.

Estimates and recommendations The company’s 3Q19 business performed well, but considering the potential pressure on the overall domestic industry demand in 4Q19, we maintain our 2019/2020 performance8.

01/10.

4 trillion is expected with 41.

The target price of 78 yuan currently corresponds to 35 / 27x P / E in 2019/2020, and the target price corresponds to 42 / 33x P / E in 2019/2020, with 19.

2% upside.

We think the company will benefit from the growth of global demand and the increase of its share in the medium and long term, and maintain its Outperform rating.

Risks The development of global new energy vehicles fell short of expectations, and the price of differentials fell more than expected.

Yuyue Medical (002223): Steady performance growth optimistic about long-term development

Yuyue Medical (002223): Steady performance growth optimistic about long-term development
Event: The company released the first quarter report of 2019: Realized revenue12.01 billion, an annual increase of 15.33%; net profit attributable to mother is 2.4.7 billion, an annual increase of 15.41%, EPSEPS is 0.25 yuan. Investment Highlights: Performance has continued to grow steadily, and gross profit margin has been relatively stable.夜来香体验网 In Q1 2019, it achieved revenue of 12.01 billion, an annual increase of 15.33%, which is similar to the same period in 2018, indicating that the company’s revenue has grown steadily. It is expected that the household and oxygen supply sectors will grow steadily, and the online segment and new products of ventilator and blood glucose will grow rapidly.In terms of gross profit margin, it was 41 in the first quarter of 2019.11%, a decline of 0 per year.5 digits, an increase of 1 from the previous quarter.28 cations, the overall fluctuation is not large.In terms of period expenses, the sales expense ratio, management expense ratio and financial expense ratio were 9 respectively.21%, 6.99% and 0.42%, an increase of 0 each year.7, 0.77 and (-0.68) Reflecting the overall potential for leveling.R & D expenses for Q1 in 2019 were 2163.杭州桑拿网97 million yuan, an annual increase of 201.54%, mainly due to the company’s continuous increase in new product research and development, expanding research and development investment.In addition, the net cash flow from operating activities decreased by 555.84%, mainly due to the company’s participation in Tmall Super Brand Days and prepaid bids for hospital outsourcing projects, the total purchase cost of the company’s production equipment exceeded 76 million. Endogenous growth is stable, and open-source acquisition integration opens up space. Endogenously, in 2019, the company will complete the construction of the fundraising project “Danyang Medical Device Production Base Project (Phase 2)” as planned, which effectively addresses the increase in the company’s and core subsidiaries’ production capacity.In the medical clinical field, integrating the excellent resources of Shanghai Machinery Group, Shanghai Zhongyou Medicine, and Metrax GmbH of Germany to play a synergistic role, especially Shanghai Machinery Group helps to improve performance. Maintain the “Recommended” level. We maintain the previous forecast, the company’s EPS for 2019-2021 will be 0.87 yuan, 1.03 yuan and 1.23 yuan, taking into account the company’s stable growth in performance, coupled with the boom of medical devices and subsequent possible outsourcing acquisitions, we are optimistic about the company’s long-term development and maintain a “recommended” rating. Risk warning: pressure on product price reduction; rapid increase in costs; integration is not up to expectations, etc.

Xiangpiaopiao (603711): Juicy tea is coming soon in spring

Xiangpiaopiao (603711): Juicy tea is coming soon in spring
Event: After the Spring Festival, various regions of the company started the “juice tea” head-to-head battles to build energy storage for the peak season sales.We researched some channels and reported that the terminal sales were in good condition. The “juice tea” water war started in full swing, focusing on “100 cities and ten thousand stores” to create juice tea potential.After the spring, the company started head-to-head wars in various regions of the country.The focus of the Battle of Water Head is mainly in two aspects: offline layout + online promotion: 1. Offline layout, focusing on creating “100 cities and ten thousand stores”: 1) Focusing on one hundred cities.The company concentrated its resources to promote the production of fruit juice tea in 100 core cities across the country (location considerations include economic level, school distribution and other factors), and radiate and drive sales development in other cities through core city potential energy.2) Build 10,000 stores.While completing the full-scale distribution of effective outlets, the company plans to create 10,000 high-potential energy stores (hardcover upgrades of traditional stores), build cleverness for juice tea through clever display and brand promotion, and set a brand benchmark. 3) Fully seize the core channels of colleges, junior high schools, attractions, commercial districts and office buildings.Students are the main consumer group of juice tea. Campus access is the company’s top priority. It must be fully covered and coordinated with corresponding promotional activities. There is a large flow of people in office buildings in the surrounding and commercial districts. Juice tea is promoted through shop placement and building advertisingConsumer awareness.2. Online propaganda, sea, land and air all-round development: 1) Mainstream APP: QQ music online propaganda, aimed at trendy youth; super curriculum, homework and other APPs to accurately target student groups; 2) Hot drama implantation: such as “Knowledge”Don’t Know No” oral broadcast, “Youth’s Flower Road” implantation, etc .; 3) New spokespersons: popular traffic niche endorsements, closer to mainstream consumer groups; 3) self-media promotion: via WeChat, Weibo, Douyin, XiaohongBooks and other content are published from media platforms to generate popular traffic.At present, the battle of heads is in full swing, creating energy for the sales of juice tea season after April. Good sales feedback, tight supply channels, too many orders in hand, and continued volume.1. Channel analysis and feedback: The sales of fruit juice tea Q1 are good. Although it has not yet reached the peak consumer season, it can still effectively sell volume, which is at a better level than competing products.After the start of school in late February, sales have accelerated significantly.Distributors’ feedback channels are tight, and stocks are relatively light. However, due to excessive production capacity, juice tea appears to be seeking alternatives.2. The technical transformation of the company’s Huzhou factory production line has delayed some production capacity. The Jiangmen factory was put into production in February and is still in a cumulative climbing period. It is still at its best production status and is expected to reach its optimal state in five months to meet the peak season demand.At present, the company has sufficient orders in hand, strong channel demand, and continued volume of fruit juice tea is expected. Q1 fruit juice tea sales are expected to be around 4.5-5 million boxes. The peak season sales volume is expected to exceed 3 million boxes per month and is expected to exceed market expectations. Juice tea volume logic entered the data verification period and realized the investment opportunities in the first stage.History has proven that the outbreak of new products can effectively promote the company’s performance and market value. The volume of juice and tea will be the core growth logic of Xiangpiaopiao.Juice tea’s product attributes, company channels and production capacity can support a scale of billions of dollars. Judging from the current situation, it is highly likely that juice tea will grow into a super large single 都市夜网 product.Corresponding to investment opportunities, the initial impact of new products on the performance and performance of the most flexible, the investment of new products in the early volume of the company will get a significant excess return, and Xiangpiaopiao juice tea is currently in the early days of heavy volume, the logic is about to enter the data verification period, whenThe market is expected to have better market performance from split to consensus, and it is expected to re-invest in the first stage. Profit forecast and rating.It is expected that the compound growth rate of revenue from 2018 to 2020 will be 24%, and the compound growth rate of net profit will be close to 20%.Considering that the volume of explosive products has a significant effect on the estimated uplift, the company is given a premium assessment 杭州桑拿 and the company will continue to maintain a “Buy” rating. Risk warning: Juice tea sales may be less than expected; capacity release rhythm may be less than expected.

Shangfeng Cement (000672): East China’s high economy boosts record high performance, good layout expected in 2019

Shangfeng Cement (000672): East China’s high economy boosts record high performance, good layout expected in 2019

Event: Shangfeng Cement announced its 2018 annual report on April 10.

In 2018, the company achieved revenue of 53.

4.0 billion, an annual increase of 15.

6%, net profit attributable to mother 14.

70,000 yuan, an increase of 86 in ten years.

0%, the net profit deducted from non-attributed to 14.

60,000 yuan, an increase of 85 in ten years.

9%.

  The performance is in line with expectations, and the high prosperity in East China has led to a substantial increase in performance: the company’s performance is in line with our expectations.

Affected by the accident, the company’s long-term sales of cement clinker fluctuated slightly by 1% to 1429.

8 each year, but due to the good cement supply and demand pattern in East China in 2018, the company’s average cement clinker content in 2018 was 27.

8% to 338 yuan / ton, gross profit per ton increased by 61.

5% to 159 yuan / ton, of which in the fourth quarter we expect the company’s cement clinker ton gross profit of more than 190 yuan / ton.

The strong demand in East China and the 北京夜生活网 good and good production shutdown, the implementation of production restriction is the reason for the strong performance of the company’s cement business.

  Cost control is effective, and the three ton fee remains low: the company follows the Conch T-type strategy and realizes logistics and sales on a scale along the Yangtze River.

We estimate that the company’s cost of cement clinker per ton in 2018 was only 179 yuan, and the cost of three tons per ton increased slightly to 29 in ten years.

8 yuan, continues to lead the expansion among cement companies, reflecting the company’s good operating efficiency.

  Optimized asset structure and increased dividend rate: The company paid off some of its debts in 2018, the asset structure was optimized, and the asset-liability ratio declined.

7 up to 49.

1%.

Due to lower dividend 重庆耍耍网 yield and lower capital expenditures, the company’s dividend payout ratio increased by 10 in 2018.

3 up to 21.

6%, reflecting the company’s confidence in future cash flow.

  The East China market is expected to remain stable in 2019: We believe that the supply and demand pattern in the East China market will remain good in 2019, so that the overall price and profit can achieve high levels of stability: 1) Accelerating the integration of the Yangtze River Delta, infrastructure demand is expected to grow steadily; 2) East ChinaThe regional real estate market is not highly dependent on the monetization of shed reforms. It is expected that the impact of the tightening of this round of adjustment policies will be small, while the integration of the Yangtze River Delta and the development and reform commission’s efforts to relax restrictions on the settlement of large and medium-sized cities will gradually increase the local real estate market;3) There is no obvious improvement in peak-peak production in major provinces in 2019; 4) The maritime model is conducive to stabilizing the market and further smoothing out the cycle changes; Investment advice: We temporarily maintain earnings forecasts unchanged.

It is expected that the company’s net profit attributable to its parent will be 15 in 2019/2020.

2/15.

500 million, EPS1.

87/1.

90 yuan, give the company a 2019E profit forecast of 9x PE estimates, raise the target price to 16.

83 yuan, maintain “Buy” rating.

After the company announces more operating data, we will further update.

   Risk warning: demand exceeds expectations, capacity increases exceed expectations, and raw fuel prices continue to grow faster than expected.

Xingyu shares (601799) investment value analysis report: product LED upgrade gradually promoted

Xingyu shares (601799) investment value analysis report: product LED upgrade gradually promoted

The company is a leader in domestic automotive lighting systems, with a market share second only to Huayu Vision.

The company’s technology reserves benefit from the upgrading of LED technology for lights from FAW-Volkswagen, FAW-Toyota and other core customers, which significantly increase the value of bicycle support and profitability. The company ‘s penetration of domestic Japanese customers has accelerated, and the announced plans to build factories in Europe have begun gradually.Development space is expected.

We forecast the company’s EPS for 2019/20/21 to be 2.

71/3.

34/4.

00 yuan, giving the company an estimate of 30 times in 2020, corresponding to a target price of 100.

20 yuan, covering for the first time, give “overweight” rating.

The company is a leading domestic automotive headlight.

The company focuses on the R & D, design, manufacturing and sales of passenger car lamps. In 2018, the lamp lamp business accounted for 89% of its revenue. It mainly supports FAW-Volkswagen, FAW Toyota, Shanghai Volkswagen and other domestic mainstream vehicle manufacturers.

In 2018, the company’s operating income was 50.

0.74 million yuan, an increase of 19 in ten years.

2%; net profit attributable to mother 6.

110,000 yuan, an increase of 30 in ten years.

0%.

Since 2009, the company’s revenue has maintained rapid growth, with a CAGR of 25 in 10 years.

2%, the company’s net profit CAGR is 22.

7%.

The actual controller of the company is Zhou Bajin, the father and daughter of Zhou Xiaoping, with a total shareholding ratio of 57.

1%, stable control of the company and high decision-making efficiency.

In 2019, the company announced that it would invest in 4.

7 million to build a plant in Serbia and enter the European market.

Car lights are the golden track in the auto parts industry.

Automobile headlights are one of the most valuable bicycle systems among auto parts. The value of mainstream configuration bicycles ranges from 1500-3000 yuan, second only to engine transmissions and seat assemblies.

According to Global Market Insights, the global market size of the automotive light industry in 2017 was approximately US $ 30.3 billion; it is estimated that by 2024, the global market size may reach US $ 42.6 billion.

The space of the lamp industry continues to expand, mainly due to the continuous upgrade of lamp light sources and intelligent technology. The LED of lamps will increase the value of bicycles by more than 1,500 yuan, and the intelligentization of lamp lights (ADB) will promote the value of bicycles by more than 4,000 yuan.

  The automotive light industry has high technical barriers and a 夜来香体验网 high degree of global industry concentration, with CR5 above 70%.

With the sale of the shares of Shanghai Xiaoying, Valeo’s acquisition of Shiguang, and the integration of the industry structure, high-quality car lamp companies gradually realized the expansion.

The company has sufficient technology reserves to benefit customers’ product upgrades.

The company pays attention to R & D investment and gradually authorized 60 patents, far exceeding the competition in the industry.

The company is a domestic enterprise that mass-produces LED car lights, with smart headlight technology reserves leading.

The company benefits from the new product cycles of FAW-Volkswagen and FAW Toyota. The new models such as Tanger, Tangyue, Bora, Sagitar, Magotan and Corolla all increase the allocation of LED headlights. It is expected 夜来香体验网 that the value of the company’s supporting products will increase above 1,500 yuan.
2019 is the first year of the company’s ADB smart headlight business. The FAW car’s ADB smart headlight project has ushered in mass production, achieving a zero breakthrough in the ADB smart headlight mass production project.

With the initial integration of ADB’s intelligent headlight mass production capacity, the company is expected to take advantage of the opportunity to achieve breakthroughs in supporting other customers and achieve penetration of ADB products into joint venture brand customers.

Customers leapfrogged to accelerate progress.

The company’s core customers have gradually upgraded from independent brands (FAW, Chery, etc.) to joint-venture brands (FAW-Volkswagen, Audi, and FAW Toyota, etc.), and the company has already provided a large number of Audi models (A3, Q3, Q5, etc.), and globally supported BMW (2 series), won the order of Beijing Benz, the customer group continued to penetrate into high-end brands, and achieved “independent-joint venture-luxury” leapfrog upgrade.

  In 2019, the company announced plans to build a plant in Serbia to further penetrate important customers such as Volkswagen, BMW and Daimler.

In the short to medium term, the company’s growth comes from the further increase in the domestic city’s share; in the medium and long term, the company continues to penetrate core customers in overseas markets such as Europe, and starts the process of global substitution of foreign capital.

We estimate that the company’s auto light business revenue in 2025 is expected to exceed $ 10 billion, and in 2030 is expected to exceed $ 15 billion. Risk factors: Car sales are lower than expected; car technology upgrades are lower than expected; overseas business development is lower than expected.

Investment suggestion: The company’s research and development technology is leading, and its products are continuously upgraded and gradually advanced. We predict that the company’s EPS in 2019/20/21 will be 2.

71/3.

34/4.

00 yuan, corresponding to PE is estimated to be 31/25/21 times.

Considering that the company’s internal lamp industry leader is stable and steadily promoted; the technology research and development reserve is abundant, and the product is continuously upgraded with customers, which will increase the value of supporting bicycles; in the future, there will be sufficient new project orders to accelerate core customer penetration and new customer expansion.It is estimated to be 30 times PE in 2020, corresponding to a target price of 100.

20 yuan, covering for the first time, give “overweight” rating.

Winter tonic medicated diet to eliminate tiredness

Winter tonic medicated diet to eliminate tiredness

According to traditional Chinese medicine, liver is the main source of blood.

For example, if you work too hard, exercise too much, and think too much, every susceptible tendon will be soft, tired and weak, and you will be able to recover as soon as you take a rest.Can enter the liver, Huagan soft tendons.

At the same time supplemented with spleen appetizer, the effect is very good.

This prescription is suitable for sub-healthy people and athletes.

  Zanzi Tomato Honey Jujube Drink Zanzi 10g, tomato 30g, honey amount, jujube (denucleated) 6 pieces.

Steam the lotus root, red dates, and grind them into mud; mash the tomatoes into juice, mix with honey, and then take.

Should be taken for a long time.

This formula can nourish yinrou liver and tendons, quickly eliminate fatigue, promote physical recovery, and relieve mental tension.

Tianliang easy to bloat Chinese medicine

Tianliang easy to bloat Chinese medicine

The weather is getting cooler and more people have indigestion.

Too many patients are bloated, burping, do not want to eat, and hope to take some Chinese medicine for conditioning.

Professor Guo Shuyun, Department of Gastroenterology, First Affiliated Hospital of Henan College of Traditional Chinese Medicine, said that indigestion is a very common disease, and you can take some proprietary Chinese medicines with mild symptoms. There are many common proprietary Chinese medicines that you can choose from.

  The weather is getting cooler and more people have indigestion.

Too many patients are bloated, burping, do not want to eat, and hope to take some Chinese medicine for conditioning.

Professor Guo Shuyun, Department of Gastroenterology, First Affiliated Hospital of Henan College of Traditional Chinese Medicine, said that indigestion is a very common disease, and you can take some proprietary Chinese medicines with mild symptoms. There are many common proprietary Chinese medicines that you can choose from.

  The first group of Liuwei Anxiao Capsules, Professor Chen Shuyun of Chenxiang Huazhi Pill, said that this group of Chinese patent medicines has metabolic aids in digestion and anti-bloating effects. It has a laxative effect when used in large amounts.Caused by indigestion, stomach fullness and constipation.

Liuwei Anxiao Capsules write 3 every time?
6 capsules can be quantified according to the condition of the stool when eating.

You can eat 6 capsules at a time when the stool is dry and 3 capsules at a dry time.

A smaller amount, two capsules at a time.

When you eat gastrointestinal comfort, you can stop the medicine and use diet conditioning.

At this time, the diet should be light, and the amount should be less, so that the body can be fully rested.

Children can take “Wang’s Baochi Pill” and other drugs to guide the stagnation.

  The effect of Chenxiang Huazhi Pill is similar to that of Liuwei Anxiao Capsule, but the function of defecation is relatively weak, it is relatively peaceful, and the price is cheap.

  The second group of Jianwei Xiaoshi Tablets, Baohe Pill, Xiangsha Liujun Pill Jianwei Xiaoshi Tablets is suitable for people who are usually weak in spleen and stomach, eat a little more, and have a full stomach.

This medicine contains Pseudostellaria heterophylla and Yam, which can strengthen the spleen and strengthen the qi, and is also effective for the treatment of the symptoms of fatigue and physical weakness.

However, if there is a thermal image such as dry mouth and bitter mouth, it is not suitable for taking.

  Baohe Pills have a digestive effect, and the effect is gentle, suitable for people with poor digestion and less heavy food.

If accompanied by fatigue, anorexia, snoring, and diarrhea, you can use Xiangsha Liujun Pill for conditioning.

In the Xiangsha Liujun Pill, there are Codonopsis and Atractylodes for invigorating the spleen and invigorating qi, which can be used for diarrhea and diarrhea, but the constitution is too hot, and those who are constipated should not take it.

Patients should have a regular diet, eat less frequent meals, do not eat cold, greasy and other non-digestible food, so that the spleen and stomach function can rest.

Those who have tooth marks on the tongue all year round can take glutinous rice yam porridge.

The practice is: 60 grams of barley kernels, 60 grams of yam, 100 grams of rice, 9 red dates, boiled together for porridge after washing.

This porridge has a spleen-to-humidity effect.

  Professor Guo is outstanding. The second group of proprietary Chinese medicines is suitable for people with chronic indigestion.

When eating high-protein foods and tonics, this type of people should not take too much each time, otherwise “nothing tonic” is prone to occur, leading to bloating, but it is more difficult to eat.

Psychologist: Changing Personality Starts With Eating

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Psychologist: Changing Personality Starts With Eating

Personality deformity: This kind of people often suffer from calcium deficiency for a long time. They should eat more foods containing calcium and phosphorus oxides, such as soybeans, milk, amaranth, fried pumpkin seeds, kelp, fungus, seaweed, field snails, orange, River crab, shrimp and so on.

  Endless people: This kind of people have vitamin B in their brains, so they are choked all day, and need to eat more whole grains, or milk and honey, which will often have good results.

  Irritable person: This kind of people are often deprived of calcium and vitamin B, and when they encounter unpleasant things, they are very excited and even thunder.

Should reduce salt and sugar intake.

You can eat more milk and seafood containing calcium.

  Fearers: mainly vitamins A, B, and C, you should eat more peppers, dried bamboo shoots, dried fish, etc.

Of course, it may also be because of eating too much acidic food, you should eat more fruits and vegetables.

  Afraid of communicators: This kind of people are mostly neurotic mergers and apathy, so it is advisable to mix honey and fruit juice instead of a small amount of wine.

  Indecision: Establish a meat-centric diet and eat fruits and vegetables at the same time.

  Negative Dependent: This kind of person usually lacks courage and courage when encountering problems.

Should be properly restrained sweets, eat plenty of foods rich in calcium and vitamin B1.

  Do something with a tiger’s head: This person usually lacks vitamin A and vitamin C. They should eat more pigs, cattle, sheep, chicken, duck liver, cow and goat milk, chicken and duck eggs, river crabs, field snails and other foods, and eat vitamin C pepper, Red dates, kiwi, hawthorn, orange, bitter gourd, rapeseed, cowpea, etc.

  Stubborn: Reduce meat food, but eat more fish and try to eat it raw; vegetables are mainly green and yellow, and eat less salt.

  Worried: Eat more calcium and vitamin B foods, and eat more animal protein.

  Those who are afraid of depression: May eat more lemons, lettuce, potatoes, bran bread and oats.

  Let’s try some ways to change your personality with food.