Zhengbang Technology (002157) Commentary on Major Issues: Equity Incentive Pigs Go High

Zhengbang Technology (002157) Commentary on Major Issues: Equity Incentive Pigs Go High

Matters: The company released the 2019 Stock Expansion Plan (draft).

Comment: The growth target of equity-inspired pigs is high, and the annual growth rate in 2020 and 2021 will be no less than 60% and 120%, respectively.

The incentive plan intends to award 58 million shares of shares, accounting for 2 of the company’s total share capital.

36%, of which, for the first time, 52.63 million shares were awarded, each for 537 shares; incentives include directors, executives, middle management and core technology, business personnel, and the price was granted for the first time.

56 yuan.

The performance evaluation target of the awarded stocks: Based on the hog sales volume in 2019, the hog sales growth in 2020 and 2021 will not be less than 60% and 120%, respectively.

According to the company’s announcement, the number of pigs to be slaughtered in 2019 is 5.5-6 million heads, that is, the growth rate of no less than 60% in 2020 should be 8.8-9.6 million heads of slaughter pigs, and the growth rate of no less than 120% in 2021 will be a feasible year.The pigs were sold at 1210-13.2 million heads.

Against the backdrop of repeated epidemics, the company’s equity incentives set high hog listing targets, and its confidence in growing and strengthening its hog breeding business has been highlighted.

The company received a large amount of credit from the controlling shareholder, and the determination to strengthen and expand the pig breeding business was highlighted.深圳桑拿网

The board of directors approved the reform today, and the company can make temporary expenditures of no more than 5 billion U.S. dollars to the shareholder’s controlling shareholder, Zhengbang Group, with a term of one year, gradually borrowing control according to the actual operating conditions of the company, and increasing the interest rate as the benchmark interest rate for bank loans.

The non-plague situation that broke out in August 2018 slowed down the company’s expansion. Since 2019, the company has set an increase of nearly $ 1 billion to major shareholders, intends to issue no more than 1.6 billion convertible bonds, and transfer non-core assets to major shareholders. Zhengbang GroupThis large-scale credit grant once again demonstrates the determination of the major shareholders to strengthen and expand the pig 北京夜网 breeding business.

Breeder assets have exploded, and biosafety prevention and control has been upgraded.

① Sufficient breeding pig resources.

The company owns GGP. The total number of GP breeding pigs is about 150,000. At the end of September this year, the company had 65 sows.

30,000, of which 35 can breed sows.

20,000 heads, 30 reserve sows.

10,000 heads, sow inventory at the end of 2019 will reach 1.2 million heads, and by 2020, pigs will be expected to reach 11-13 million heads.

② Comprehensive improvement of biosafety prevention and control.

Biosecurity prevention and control of pig farms is a key factor affecting the survival of pig farms. The company comprehensively reviews the self-built feed mills, self-built pig farms, and cooperative farmer pig farms in terms of software and hardware investment in biosafety control.Improve pig farm biosecurity prevention and control.

Since October, the company has fully combed and adjusted the SOP, and the results have been immediate. In the grassroots process, we learned that the company’s live pig listing rate has reached 90%, and its biosafety prevention and control capabilities have reached a new level.

Earnings forecasts, estimates and investment ratings.

This round of non-plague situation causes severe damage to the ancestors and binary breeders every year. It takes 28 months to grow from the great ancestral breeder to the binary breeder. The recovery of production capacity will be a long process.

At present, the efficiency of ternary seed retention in the market has decreased by more than 60%, the parity is only 1-2, and the non-plague epidemic has been repeated, and the prosperity of the pig breeding industry has continued.

In November of this year, the weight of the fattening pigs of the company’s fattening pigs rose sharply to 115.

28 kg, the non-blast prevention and control from the side reflection has achieved good results, the company’s operating turning point has now been reached.

The company’s equity incentive plan (budget) set a higher growth target for pigs on the market, and obtained a large amount of credit from shareholders. The major shareholders’ confidence and determination to strengthen and expand the company’s pig breeding business are highlighted.

We maintain an estimated 5.7 million pigs, 12 million pigs, and 15 million pigs in the company’s slaughtering population in 2019-2021, corresponding to a revenue of 224.

600 million, 497.

200 million, 568.

90,000 yuan, net profit attributable to mother 24.

100 million, 184.

600 million, 194.

900 million, an increase of 1145 each year.

2%, 666.

3%, 5.

6%, corresponding to EPS0.

99 yuan, 7.

55 yuan, 7.97 yuan.

The hog sector is more than 10 times PE at a profit high. We give the company 5 times PE in 2020 and maintain a target price of 37.

75 yuan, to maintain the “strong push” level.

Risk warning: pig price rises less than expected; blight.

What happened in the last minute of scanning 24 billion goods and hitting 12 billion A shares?

What happened in the last minute of scanning 24 billion goods and hitting 12 billion A shares?

Sweep 24 billion goods and smash 12 billion disks!

What happened to the last minute of A shares?
Ping An Moutai China Merchants Bank dives, these stocks have soared . Source: China Fund News Taylor A shares today, once again exciting, can be full!

Shareholders ushered in a carnival moment.

  Let’s take a look at August 27, the Shanghai and Shenzhen markets opened higher and higher, terminated the closing, the Shanghai stock index rose 1.

35% recovered 2900 points, Shenzhen Component Index rose 1.

86%, GEM Index rose 1.


  Disk, medicine, home appliances, driverless, Internet finance and other sectors rose the most.

  Behind this is the second expansion of MSCI, which took effect after the market closed today. The market ‘s A-share segmentation factor increased from 10% to 15%.

  According to estimates, the second phase of MSCI’s expansion is expected to bring about 140 billion incremental funds to A shares, of which about 20 to 25 billion US dollars are passively tracking funds dedicated to entering the A stock market before and after adjustment and expansion.

  In the last three minutes of A shares, foreign stocks were madly swept. A shares rose sharply today.

  Why buy in a big way?

The world ‘s largest index company MSCI ‘s second expansion of A shares officially took effect after the market closed today, expanding the weighting of China ‘s broader market A shares from 10% to 15%. According to the MSCI ‘s “three steps” plan for A shares,This is the second step of the MSCI ratio increase plan for A shares this year.

  According to conventional experience, Northbound funds often sweep the market late in the day on the index adjustment performance, forming a pulse market.

  This morning, the capital of the Northbound Group bought a total of nearly 6.5 billion yuan, of which the Shanghai Stock Connect bought a net purchase of 37.

8.7 billion yuan, Shenzhen Stock Connect net purchase of 26.

5.6 billion yuan.

  In the afternoon, it really pulsed.

Closing three minutes ahead of time, foreign countries completely swept the goods.

  At the end of the day, the capital move northward started at 2:57. In just one minute, the net inflow exceeded 10 billion. After 2:58, the net inflow has exceeded 24 billion.

  As of today, the net inflow of Kitakami funds in a single day exceeded 10 billion U.S. dollars a total of 5 times, which were 17.3 billion inflows on November 2, 2018, 12.1 billion inflows on December 3, 2018, and November 17, 2014.The daily net inflow was 12 billion, the net inflow was 11.7 billion on August 27, 2019, and the net inflow was 11 billion on March 29, 2019.

  The final close, the Shanghai stock index rose 1.

35% recovered 2900 points, Shenzhen Component Index rose 1.

86%, GEM Index rose 1.

71%, the total market value of A shares increased by more than 860 billion yuan a day.

  At the end of the day, unexpectedly, arbitrage funds hit more than 12 billion in the last minute. Due to the expansion of MSCI today, the inflow of more than 20 billion has become a clear name.

Too many arbitrage funds have experienced the late-pulse caused by the MSCI expansion once and have already experienced it. They hit the market in the last minute of the late-game.

  You can look at the end of Kitakami ‘s funds. The net inflow of Kitakami ‘s net inflow was 11 billion in about one minute at the time of the collective bidding, and the net inflow of Kitakami ‘s funds quickly reached 24 billion.

  But then it poured a basin of cold water: closing data showed that the final net inflow of funds to the north was 11.7 billion, which means that more than 12 billion funds were sold in late trading.

  And through the sale of tens of billions of funds in the late trading, the three major indexes failed to rise like May 28, but went out of a slight decline in the last few minutes.

Among them, the Shanghai Composite Index, the Shanghai and Shenzhen 300, and the Shanghai 50 are more obvious.

  Fund Jun also found the situation of several stocks being smashed, most of them are heavy stocks.

The weight of blue-chip stocks in Moutai, Guizhou and Ping An of China surged and dropped in a minute.

Among them, Guizhou Moutai rose from more than 1% to only 0 in the end.

55%, looking at the last minute trading volume, Moutai traded 6,934 lots, involving 7 capital.

700 million.

  China Ping An has risen more than 0.From 4% to 0 in the end.

21%, the last minute volume 7 transactions.

980,000 hands, involving 700 million capital.

  Market analysis believes that since MSCI has increased the factor in addition to ACI, it has been announced earlier, so active funds have the possibility to open positions in advance, and some speculative funds will also be opened in advance, and will be taken back to passive funds on the same day before formalArbitrage.

  However, some have been violently opened positions.

  Netizens comment.

  The last foreign buying was on May 28 May 28, also the expansion of MSCI, a large number of foreign countries choose to buy in concentrated bidding in late trading, resulting in the index soaring.

  At 14:56 at the end of the day, the net inflow of northbound funds was only 18.

2.3 billion yuan at that time, the net reduction of Shenzhen Stock Connect was 4.

7.7 billion yuan, the net inflow of Shanghai Stock Connect 23.

01 billion.

  Early closing, the capital of Northbound changed significantly in the late trading period. At one time, the net inflow exceeded 11 billion yuan, and the net inflow of A shares closed nearly 7.5 billion yuan.

  The net inflow of Shanghai Stock Connect was 59.

3.2 billion yuan, Shenzhen Stock Connect net inflow of 深圳桑拿网 15.

5.9 billion yuan.

This means that in the last few minutes, Northbound funds bought more than 5.6 billion yuan.

  On May 14, MSCI released the results of the semi-annual index growth rate in May 2019. The MSCI China Index will increase 26 Chinese large-cap A shares, of which 18 are GEM stocks and the number of constituent stocks will reach 263.

  The first step of MSCI capacity expansion was the 5% to 10% restructuring of A-shares in China, which became effective after the close on May 28.

  According to the analysis, in the passive funds tracking MSCI, the opening or adding of positions must be completed within the trading day before implementation, in order to ensure compliance with the relevant index.

  At the same time, MSCI funds are based on closing prices, so significant changes in collective bidding in late trading are also common.

  The next big foreign purchase in November, this year there is another, in November.

  Follow the MSCI schedule.

As part of the semi-annual index growth in November 2019, MSCI will increase all Chinese large-cap A-share split factors in the index from 15% to 20%, while increasing China’s mid-cap A-share (including eligible GEM)Stock) divided by 20% by the MSCI index.

Hongda Blasting (002683): Mining Services Revenue Increases Significantly in Defense Segment

Hongda Blasting (002683): Mining Services Revenue Increases Significantly in Defense Segment

I. Overview of the event On August 19, the company released its 2019 semi-annual report and achieved operating income of 24.

39 ‰, an increase of 30 per year.

96%; net profit attributable to mothers1.

3.7 billion, up from 47 previously.


Second, analyze and judge the contribution of mining service revenue contribution. The company’s performance increased significantly in the first half of 2019, and the company achieved operating income24.

39 ‰, an increase of 30 per year.

96%, mainly due to the significant increase in revenue of the mining service sector; net profit attributable to mothers1.

3.7 billion, up from 47 previously.


Company 西安耍耍网 expenses in the first half of the year11.

42%, compared with 13 of the same period last year.

39% down 1.

97pct, mainly because the company’s expense control is better, the revenue growth rate is significantly higher than the expense growth rate.

Achieved gross profit margin at report level 19.

33%, down by 1 every year.

9pct, the gross profit margin of the mining service business, which is expected to account for a relatively large proportion of revenue, will decline 2.


The revenue of the defense sector has increased significantly. The export scale of the HD-1 project has been approved to report. The company’s defense sector revenue has increased significantly.

150,000 yuan, an increase of 100 in ten years.

06%, the main reason is that the unit price and quantity of some traditional military products 西安耍耍网 of Minghua Company increased compared with the same period of last year.

The company is working on a weapon system HD-1 project, with a total investment of about 1.3 billion U.S. dollars, and it is expected to start generating benefits in 2020.

On July 19, the company disclosed that the project had been approved for export. We believe that the company has removed obstacles in the military export process, and future military trade orders are worth looking forward to.

In addition to the HD-1 project, the company has also been involved in the two major areas of intelligent ammunition equipment and individual combat equipment. The integration of products in these two areas is being promoted in research and development and is expected to become a new growth point in the future.

The business development has achieved significant gains. The mining service sector’s revenue growth has increased. The mining services business is the company’s pillar industry, which mainly includes open-pit mining services and underground mining services.

In the first half of the year, the mining service segment realized operating income.

150,000 yuan, an increase of 38 in ten years.

70%, preliminary business development for the company, increasing contract duration and increasing production.

According to the forecast of the Industry Information Network, the initial growth rate of the mineral industry has been advanced and will reach expectations in 2020. Therefore, the company’s active expansion into new areas will effectively support the sustainable development of the sector.

Civil explosives have strong profitability. Outsourcing mergers and acquisitions promote the growth of the company’s civilian explosives business. The upstream channels for mining services are mainly industrial pyrotechnic products and industrial explosives production and sales. It is the company’s most profitable sector with a gross profit margin of 33.


In the first half of the year, the private sector achieved revenue5.

18 ppm, a 10-year increase3.


The report summarizes that the establishment of a civilian explosion group, the production of various civilian explosions, the sharing of circulating enterprise resources to reduce management costs, and promote a slight increase in profitability of the sector.

There is no doubt that the company has continuously carried out market integration in the field of civil explosions, and has completed the merger of 7 of 8 civil explosion enterprises in Guangdong Province.

With the continuous promotion of outsourcing mergers and acquisitions, the company’s private sector is expected to continue to grow.

Third, investment advice The company, as a leading domestic mining service and civilian explosive enterprise, insists on positioning the military industry as a long-term development direction. We are optimistic about the improvement of performance after the implementation of military projects.Expected company 2019?
In 2021, the EPS will be 0.

42, 0.

53 and 0.

73 yuan, corresponding to PE of 31X, 24X and 18X. Comparable companies evaluate the average 70X and give a “recommended” rating.

4. Risk warnings 1. HD-1 project progress exceeds expectations; 2. Fierce competition in the mining service market leads to a decline in gross profit margin

Depth-Company-Kelley Ying (002821): Gross profit margin of cash flow continued to improve in the third quarter

Depth * Company * Kelley Ying (002821): The gross profit rate of cash flow continued to improve in the third quarter

The company released the third quarter report of 2019: the report merged, and the company achieved total operating income of 17.

4.2 billion (+44.

61%), net profit attributable to mother 3.

6.7 billion (+40.

48%), net of non-attributed net profit3.

3.8 billion (+38.


Operating net cash flow 3.

51 ‰ (+ 28.

54), of which Q3 single season 1.

9.6 billion (+ 1,554%).

Performance is in line with expectations.

At the same time, an annual notice is issued, and net profit attributable to mothers is expected to be 5 in 2019.


0 million yuan (+ 25%?
40%), net of non-attributed net profit4.


1.6 billion (+ 30%?

Initially maintained a high growth trend.

As a domestic CDMO leader, the company comprehensively lays out all links in the industrial chain, and the number and scale of orders are constantly expanding. Commercial orders at home and abroad will provide incremental increases.

At the same time, based on the development and production of advantageous small molecule processes, the layout of large molecules is accelerated. The first phase of the Jinshan R & D building is being used at the end.

We are optimistic that the company will move towards a global leader, maintain the buy level, and continue to recommend it.

The main points of the support level maintained high growth in the third quarter, and the operating net cash flow increased significantly: Q3 single-quarter revenue and profit maintained rapid growth since this year (revenue +45.

18%, net profit attributable to mother +31.


Operating net cash flow in a single quarter1.

9.6 billion, a continuous increase compared to the previous two quarters and the same period last year. Initially, the export orders were confirmed at the end of June this year, and the return amount in the third quarter conflicted.

Advance receipts were 42.9 million yuan at the end of the third quarter, an increase of 66% from the end of the second quarter, and the order revenue volume is expected to continue to expand.

The single quarter gross margin improved, the production of raw materials and technology reduced costs, and the positive impact of the US dollar exchange rate: Q3 gross margin 45.

20%, an increase of nearly one merger from the second quarter.

Affected by many factors since the early days, the gross profit of the first two quarters was short-term.

In the third quarter, due to the improvement of the company’s self-production of raw materials and the use of newly transferred capacity, and the positive effects of exchange rates and tax rebates, the gross profit margin began to improve.

Subsequently, the ratio of self-supply continued to increase, new businesses gradually matured, and there was room for further improvement in gross profit margin.

Continued R & D expenditures, new business and expansion of production capacity and expansion of future incremental bases: The management expense ratio in the third quarter was significantly reduced due to reduced distribution amortization (-1).

78pp), the sales expense ratio and R & D expense ratio remained basically stable.

The company’s Jinshan Macromolecule R & D Center is expected to expand operations during the year, bringing new business development space; clinical CRO business is growing steadily.

The gradual launch of new production capacity and the continuous increase of maximum production capacity are expected to ensure the company’s additional growth space in the future.
It is estimated that the company, as a domestic leader in CDMO, continuously explores the market for domestic innovative drugs and further increases the overseas penetration rate. At the same time, it focuses on emerging businesses such as macromolecules 北京夜网 and CROs.The expansion of production capacity and the expansion of the industrial chain are driving rapid growth.

Regardless of the fixed increase and dilution, we estimate that the company’s net profit attributable to the parent in 19-21 will be 5 respectively.


2.7 billion, with EPS of 2.



44 yuan, corresponding to a price-earnings ratio of 48.



5 times, maintain BUY rating and continue to recommend.

The main risks faced by ratings are the risks of downstream customers’ R & D failure or sales exceeding expectations; risks of exchange rate changes; risks of international trade friction; environmental protection and production safety risks.

Dream Lily (603313) 2019 Q3 Review: Q3 Performance Exceeds Expectations, Overseas Capacity Releases Steadily, Highlights Comparative Advantage

Dream Lily (603313) 2019 Q3 Review: Q3 Performance Exceeds Expectations, Overseas Capacity Releases Steadily, Highlights Comparative Advantage

The performance exceeded expectations, Q3 revenue growth picked up, and overseas capacity release highlighted its comparative advantage.

  In 2019Q1-3, the company achieved operating income of 26.

39 trillion, +25 for ten years.

4%; net profit attributable to mother 2.

600 million, ten years +135.

89%; net profit after deduction to mother 2.

69 trillion, +99 for ten years.


By quarter, Q1 / Q2 / Q3 achieved operating income of 7 respectively.



5.9 billion, +28 each year.

78% / + 18.

06% / + 28.

88%; net profit attributable to mother is 0.



1 trillion, +1547 each year.

3% / + 123.

91% / + 52.

17%; net profit after deduction is 0.



32 trillion, +4170 each year.

99% / + 56.

93% / + 64.


Q2’s foreign trade business was affected by trade friction and anti-dumping duties on mattresses, and its revenue growth has improved.

Q3 With the continued release of overseas production capacity, the comparative advantage of the foreign trade business performed, and the revenue growth exceeded expectations.

Q4 is expected to continue to pick up as US plants are put into production.

Total overseas production capacity is expected to reach 3 in 2020.

500 million US dollars (output value caliber), breaking through the expansion of production capacity, and strong growth in export business.

Profitability has improved significantly, with a single quarter net margin of 11.

25%, a new high in the past three years.

2019Q1-3 company’s gross profit margin short-term +6.

91 to 37.

01%; net interest rate +4 per second.

84pcpts to 10.39%; period expense rate is ten years +1.

52pcpts to 22.

24%; of which, the sales expense ratio is +0.

45 points to 13.

32%; management expense ratio (including R & D expense ratio 2.

56%) Decade +0.

41 points to 8.

53%; financial expense rate for ten years +0.

65pcpts to 0.


Q3 single quarter gross margin +3 per second.

71 to 36.

43%; net interest rate +2 per second.

15 points to 11.

25%; period expense rate is ten years -1.

31 to 18.

26%; of which, the sales expense ratio is -0.

56pcpts to 12.

63%; management expense ratio (including R & D expense ratio 2).

72%) -0.

41 points to 7.

24%; short-term financial expense ratio -0.

33pcpts to -1.


The company’s gross profit margin has been significantly improved under the combined catalyst of expected downward adjustments in raw material prices, the depreciation of the RMB and the increase in the proportion of independent brands.

During the first half of the year, the expense ratio increased due to increased channel expenses and higher transportation costs of overseas factories. The Q3 expense ratio has been effectively controlled. The impact of overseas factories on profitability has been basically eliminated, and the net profit margin in the single quarter reached nearly threeNew year high.
Cash flow performed well and operating efficiency improved month-on-month.

The company achieved operating cash flow in the first three quarters1.

4.7 billion yuan, +240 per year.

1%; operating cash flow / net operating income ratio 40.

81%; sales cash flow / operating income -1 per year.

77 to 99.


Net operating cycle 78.

4 days, up 7 every year.

53 days; of which, the inventory turnover days were 73.

79 days, a year up 8.

85 days; accounts receivable turnover 青岛夜网 days 61.

98 days, a year up 6.

8 days; account turnover days 57.36 days, a year up 8.

1 day.

Operating cash flow performed well, and the ratio of sales cash flow to operating income declined slightly but was within a reasonable range of fluctuations.

Inventory turnover efficiency decreased slightly, mainly due to the increase in inventory brought by the launch of new overseas production capacity.

The increase in the number of coping turnover days exceeded the receivable turnover. Although Q3’s overall turnover efficiency declined, it improved month-on-month.

Investment suggestion: Under the friction of Sino-U.S. Trade friction, the advantages of export sales are complementary, the production capacity will continue to climb, and the sales revenue and profit margins will continue to improve.

Without considering 杭州桑拿 the impact of the consolidation of Mor Furniture, the EPS for 2019-2021 is expected to be 1.



84, corresponding PE is 15/11 / 9x, maintaining the “strongly recommended” level.

Risk reminders: Overseas production capacity climbs less than expected, overseas production costs rise; raw material prices rise; production capacity is released less than expected; RMB exchange rate changes.

CITIC Food: expects Shanxi Fenjiu to perform well and maintain Buy rating

CITIC Food: expects Shanxi Fenjiu to perform well and maintain Buy rating

[CITIC Food]Feedback and viewpoints on Shanxi Fenjiu research points. We participated in the Fenjiu Shareholders’ Meeting today and analyzed the feedback in combination with other channels. The main points were as follows: Chairman Li gradually showed confidence and strived to complete the goal in advance. The goal of 2020 was clear.

From the perspective of Chairman Li of Fenjiu Group, several internal reforms have gradually taken shape, and contracted management and incentive mechanisms are in place to stimulate business vitality. It will further optimize corporate governance through the appointment of China Resources Venture Capital, give play to strategic synergies, and actively try to hold employees.Stock and equity incentives.

Prominent and reliable economic indicators for completing the three-year term one year in advance, and a clear explanation of the 4421 target in 2020. It is predicted that in 2020, based on 2017, the alcohol revenue, profit, output and market value of listed companies will all double; mid-to-high endThe proportion of products has been increased to 70%, and the proportion outside the province has been increased to 70%.

  18H1 performance is expected to continue to perform well, sales companies have a good pace of task completion, and Qinghua Fen Liquor maintains high growth.

The company expects the revenue growth rate to exceed 40% and the net profit growth rate to exceed 60% from January to May. In 18H1, it is estimated that the sales company’s target completion rate is around 58%. We believe that the company’s tasks are completed at a good pace.50% (5 billion tons) of the target has been completed, 70% has been completed in Inner Mongolia, and 64% has been completed in Hebei.

The market outside the province according to the channel feedback, the target 4.6 billion sales caliber completion progress is normal, recently has been notified of temporary hold orders to prepare for Q3 sales.

In terms of products, H1 blue and white fen wine is expected to maintain high growth, and the growth rate is expected to exceed expectations. Consistent 杭州夜生活 with channel feedback, Bofen, as a cost-effective light bottle wine, plays an important role in fragrance consumer education. H1 growth is still expected to increase.
  Blue and white continued to achieve value return through price increases, and channel management continued to improve.

Initial media reports combined with channel research. Following the initial price increase and the cancellation of Q2 supplements, the blue and white fen liquor series will raise prices again in July, fulfilling the expectations of the early spring sugar club company that the subsequent blue and white fen liquor will continue to achieve value return.To enhance brand power, focus on channel benefits adjustment.

Since last year, the company has strengthened terminal management and under the full price control mode, the overall price trend has continued to rise. The province’s blue and white 30 transaction price was 570-580 yuan, and the gold award 20-year transaction price was about 280 yuan.

We believe that the improvement of the company’s marketing work is effective, and the channel breakthrough brand accumulation can continue to improve.

  Deepening national reforms continues to catalyze, and the recovery of Qingxiang famous wine is on the way.

The company opened the road to revival as a fragrant famous wine. The reform of the country from top to bottom deepened and stimulated the vitality of the business. The bottom-up, internal and external improvement also promoted product volume and profit improvement.

In addition, the short-term Diageo premium purchase of Shuijingfang is still expected to bring short-term estimates to Fenjiu.

Maintain the original target price of 75 yuan and buy level unchanged.

There are 6 major hazards when putting a mobile phone on the bedside!

How far can the phone be harmless?

There are 6 major hazards when putting a mobile phone on the bedside!
How far can the phone be harmless?

In this era of high use of electronic products, almost everyone has a mobile phone, and mobile phones have gradually replaced other things, becoming a must-have for many people at all times.

Unless you are suffering from a “mobile phone worry”, you should put your mobile phone with you even when you are sleeping, so that you can sleep peacefully.

  But when it comes to mobile phones, everyone knows that mobile phones have radiation.

Especially when sleeping at night, people ‘s whole body is in a relaxed state. If the mobile phone is close to the body, there will be greater radiation.

Just how much damage these radiations cause to the body is rarely known.

So, what are the harms of sleeping with a mobile phone on the bedside?

How far can a cell phone be to harm the body?

  There are 6 major hazards when you put your phone on the bed when you sleep!

  1. Difficult to sleep at night The mobile phone will produce a series of radio waves. Some radio waves will affect the blood supply of the cerebral cortex and may cause changes in the EEG.

People who suffer from insomnia themselves are susceptible to the effects of these radio waves, which makes it difficult to sleep at night.

  2. Damage to the brain Cell phones will generate radio waves, and some of the radio waves will be absorbed by the brain.

Therefore, if you sleep with your phone on a pillow for a long time, the radio waves absorbed by your brain will increase. As a result, your brain will be easily damaged, and headaches, dizziness and other problems will occur.

  3, menstrual disorders, the harm to the body will also vary from person to person, for example, the effect of putting the bedside of the mobile phone on a woman while sleeping is different from other people.

If a woman puts her mobile phone on the bedside for a long time while sleeping, its internal secretion will be affected, and endocrine disruption will easily occur. It will even cause women’s menstrual disorders and may affect women’s pregnancy.

  4, affect the sperm to sleep when the mobile phone put on the bedside AIDS affect women, men are the same.

Mobile phone radiation has a great impact on men and even the system. Some studies have shown that if men are affected by mobile phone radiation for a long time, the number of sperm will be reduced, and there is a high probability of weak spermatozoa.

  5. Triggering tumors Some people believe that the radiation generated by mobile phones may cause neurons in the human body to die under high temperature.

If the glial cells that are divided at a later stage produce abnormalities, it increases the risk factor for diabetes.

  6. A large number of osteoporosis investigations have shown that people who place their mobile phones by their pillows for a long time during sleep are more likely to have osteoporosis.

  How far does it go to sleep when the phone is sleeping?

  First of all, the phone has radiation, so it is best to turn off the phone while sleeping.

If you must submit to the standby mode, it is recommended to put it on the heel and distance from the heel 1.

5 meters is appropriate.

6 great moves to create perfect glamorous brunettes

6 great moves to create perfect glamorous brunettes

The perfect figure is by no means thin and thin. Only the combination of breast enhancement, thin waist and hip-up will not let down the graceful style behind that delicate fashion.

And if you want to have a perfect figure, if you want to show off the curve, in addition to weight loss according to your body characteristics, don’t forget to persistently carry out a variety of body shaping exercises, and develop good eating habits, keepCorrect standing and sitting postures.

Keep in mind that even natural beauties have to practice the day after tomorrow!

  Enhance the chest line: bath + massage breast enhancement products + massage can strengthen the metabolism and blood circulation of the chest, in order to stimulate the activity of breast cells, and achieve breast enhancement.

With your hands next to your armpits, do a circular massage along the outer edge of your chest.

From the outer edge of the chest and mandible, massage up to the position of the clavicle below the neck.

Put your hands on the areola and do a spiral massage.

Make a circle from the center of the breast and go up to the collarbone.

Spiral massage around the breasts in a small circle.

Hold the breast with both hands and pull up slightly.

  As a reminder, be sure to apply breast enhancement or breast enhancement products quickly when your skin is very moist, so that the absorption effect will be good.

Pine nut kernel has rice porridge can moisten the lungs and intestines to prevent chronic constipation

Pine nut kernel has rice porridge can moisten the lungs and intestines to prevent chronic constipation


20 grams of pine nut porridge and 100 grams of previous rice.

Grind the pine nut kernels. Before the rice is washed, put in the same pot, add 800 ml of water, first boil with Wuhuo, and then boil for 20?
For 30 minutes, the rice is cooked.

Eat for breakfast and dinner.

  Efficacy: nourishing yin and nourishing fluid, moisturizing the lungs and intestines.

  Scope of application: Lung yin deficiency, dry cough and hemoptysis; yin deficiency, intestinal dryness, chronic constipation; liver blood deficiency, dizziness.


Take 500 g of pine nut kernel paste, remove impurities, mash it, grind it into a paste, and put it in a bottle.

15 grams each time, 3 times a day, warm wine delivery.

  Efficacy: Moisturize the five internal organs and expel wind.

Healthy people often eat it, which can strengthen the body, anti-aging, anti-aging, and prolong life.


250 grams of pine nuts dipped in pine nuts and 500 grams of caster sugar.

Put white granulated sugar in the pot, add an appropriate amount of water to dissolve, and torment with gentle heat, to the extent that can raise sugar.

Add the pine nuts while it is still hot, stir well, immediately pour it into an enamel plate coated with cooked vegetable oil, scrape it flat, cut into small pieces, and let it cool.

1 block each time, 3 per day?
4 times.

  Efficacy: Runfei lungs and spleen, cough and bleeding.

Applicable to chronic bronchitis, bronchiectasis belongs to the deficiency of both lung and spleen. The symptoms include dry cough, little phlegm, shortness of breath, hemoptysis, fatigue of limbs, etc.


10 grams of pine nut soup, 10 grams of black sesame, 10 grams of wolfberry, and 10 grams of chrysanthemum.

Put the above 4 flavors in a casserole, add 800 ml of water, cook for 40 minutes, and take the warm soup.

Add 600 ml of water to the medicine residue and cook for 35 minutes.

1 dose daily, 1 time each morning and evening.

  Efficacy: nourish the liver and kidney, clear the brain and eyesight.

It is suitable for dizziness caused by liver and kidney yin deficiency, blurred vision, irritability and irritability, difficult stool and so on.

Huang Di Nei Jing teaches you to live health

Huang Di Nei Jing teaches you to live health

The principle of living and health, “The Yellow Emperor’s Internal Classic” means “there is a constant living.”

That is to say, there should be certain rules in life and work, so that it is conducive to physical health.

  The influence of circadian rhythm on the human body, the time and space view of Chinese medicine believes that 昼 is yang, night is yin, and yin and yang are in a cycle of changes in rhythm.

People’s work habits should conform to the laws of yin and yang changes, which is beneficial to physical health.

This view is generally consistent with the biological clock theory advocated by modern medicine.

  Work on time and exercise properly.

This is the basic requirement for living and health.

Morning should get up early, don’t sleep.

The day is based on the morning, the morning yang qi hair tends to the surface, it is best to do some physical form, nourish the spirit of the movement.

“The water is not rot, the hub is not shackled”, and the truth lies in the true meaning of sports.

Sleep early in the night, try to avoid staying up late, and ensure enough sleep time, so that you can be full, full of well-being.

However, today’s people, especially the younger generation, are either snoozing or staying up late, lack of exercise, and are always connected with computer TV.

In the long run, it will inevitably affect physical health.

  Ancient health homes have clouds: “The health care is the first to sleep.

“One of the people, free time spent in sleep, this is both a physiological need and a guarantee of health.

To ensure the quality of sleep, restore physical energy, so as to achieve disease prevention and health, longevity.

With the accelerated pace of life and the increasing pressure of competition, the number of people who are “uneasy at night” is increasing, and sleep health is more important.

In addition to taking medication, the necessary preparations before going to bed are a substitute for a good night’s sleep: before going to bed, you need to sleep with the Taiqing Zhigu people, “sleep first, then sleep,” which is an important secret to ensure the quality of sleep.

Any change in the emotional state of plasma is bound to cause disturbances in the function of viscera and blood, leading to insomnia.

When sleeping, the youngsters are calm and sleepy. After thinking about it, don’t talk too much, so as not to disturb the mind and fall asleep.

  Do not eat enough before going to bed because eating, especially eating “day and night” will increase the burden on the body and affect the quality of sleep.

If you have a clear sense of drought before going to bed, you should take a short break after eating for a while.

As early as in the “Yellow Emperor’s Internal Classic”, there is a saying that “the stomach is not harmonious and restless”, and the folks also have the slang of “small dinner, live to ninety-nine.”

  Before going to bed, it is not advisable to drink a lot of tea because of excessive drinking water before going to bed, long-term bladder filling, repeated urination, especially in the elderly, kidney gas is often empty, solid-fixing function is reduced, excessive drinking water is bound to increase nocturia and affect rest.

And too much tea before going to bed, the caffeine contained in the tea can stimulate the central nervous system, making it difficult for people to fall asleep.

  Before going to bed, warm water washing and foot massage all the health care homes have taken hot water before going to bed as a health rickety, a measure of longevity.

Hot foot washing and foot massage can clear the meridians and promote blood circulation, which is beneficial to eliminate fatigue and improve sleep quality.

Modern medical research has proven that it is often stimulated by the foot to regulate autonomic and endocrine functions, and to find cardiovascular and cerebrovascular diseases.

  When you go to sleep, you need to develop good habits. You should not cover your face, and you should not be exposed to the wind to avoid breathing, or feeling sick.