Fang Shuo reproduced the super giant moment, Jeremy Lin praised his partner to take over the game

Fang Shuo reproduced the “super giant moment”, Jeremy Lin praised his partner to take over the game
Beijing Shougang defeated the Shanghai team 94 to 88 at home tonight. Fang Shuo scored a key goal with more than 1 minute left in the fourth quarter, contributing 19 points and 5 assists.The Shougang team failed to limit their opponents in the first half, and the offensive did not find a rhythm.Fang Shuo made 4 of 6 shots in the first 2 quarters, scoring 11 points and 3 assists, the highest in the team.In the second half, the point difference was still not pulled apart, and Motai hit the buzzer with a three-pointer. The two teams scored 69 draws in the first two quarters.More than 1 minute before the end of the game, Shougang only led by 2 points. Fang Shuo stepped forward with Jeremy Lin not in the field. He first threw a shot in the counterattack, then forced Luo Hanchen to make a layup to help the team lock the victory.Fang Shuo locked the victory for Shougang.Photo / Osports “Fang Shuo is very clever and calm in handling the ball at critical moments. He stands up from the bench and deals with the game calmly.”Head coach Yannis praised Fang Shuo after the game.林书豪也直言:“大家都看到,方硕在第4节最后关头接管了比赛,我一直跟他说‘你是我们球队的X因素’,可以让我们的成绩非常好,我很高兴可以Be his teammate.”The Fang Chao Giant” himself said that Shougang has already shown the temperament of playing the key ball as a whole. Both are themselves, and each player is ready to stand up when the team needs it.”This is not the first time we have such a moment. It was proved last season that we are confident and confident at such a moment.At the beginning of the season, everyone is in the running-in phase to find the feeling of the game, which includes the feeling of this (critical) moment.Winning in this way still greatly improved our confidence.”

More than 3.2 million yuan March 8 gifts from Chenguang Biology will be given to Wuhan medical staff

More than 3.2 million yuan “March 8” gifts from Chenguang Biology will be given to Wuhan medical staff
On the afternoon of March 6, Chenguang Biotechnology Group Co., Ltd. (referred to as “Chenguang Biology”) survived the Hubei material transportation to Wuhan, and more than 320 million lycopene soft capsules were donated to the Wuhan University People’s Hospital and Wuhan Jianghan University Hospital.medical personnel.This is Chenguang Bio’s second batch of lycopene supplies for the emergency budget.The 19,000 bottles of lycopene soft capsules to be donated will be donated to Wuhan University People’s Hospital and Wuhan Jianghan University Hospital.”These batch of lycopene soft capsules were produced in an urgent manner. I hope to forget to give the frontline medical workers in Wuhan epidemic area as soon as possible and do their best to protect their health.”Lu Qingguo, Chairman of Chenguang Biology, said that this is also a blessing for female medical staff on” March 8 “Women’s Day.Chenguang Bio is an internationally important supplier of natural plant extracts.Up to now, the cumulative donation of anti-epidemic materials has exceeded 4.2 million yuan.Sauna, Ye Wang, Ouyang Xiaojuan, Liu Huan, picture source, corporate image editor Zhu Fenglan

[High school students diet recipes]_18 years old _ how to do

銆 愰 珮 Juan 楗 懗  鎼 Have a long time?
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[Can I eat unripe tomatoes]_Benefit_Eating method

銆 愭 病 雡 熡 殑 瓗 Cross-children’s crotch 咖 咨 傧 銆 抱 擂 擂 擩 _ 钖 冩 硶
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[Fresh and healthy snacks are recommended, eat more beneficial and harmless!】

銆 焭 竻 鏂 板 擴 搴 梴 梴 擑 板 擺 ? 鎺 ㄨ 哺 ? 嘖 咖 咩 婩 幩 倩 値 珒 紒 銆 劒 劒 銆?
Xidiehuahuan economics  Hamamatsu Hongshihuangcang  Yanggangyiliang Xunrenhuanji Yihuanjiyi plate members   Tuan Tuan  Qin Qin efficiency  suffer Weiduoyiying ︾ Duoxiaguichang Yirenqinxia佷贡鍚冮浂椋熴€傞偅涔堬紝鏈夋病鏈夊仴搴风殑闆堕鍛紵浠ヤ笅锛屽皬缂栨帹鑽愯繖浜涙竻鏂板仴搴风殑灏忛浂椋熺粰澶у銆?I’m sorry, it’s hard to say, it’s awkward, it’s awkward, it’s awful, it’s awful, it’s awful, it’s hard to press it, it’s hard to go to it, it’s awkward to go to it竴鐐瑰効閮戒笉杈撶粰涓婇潰鍒楃殑閭d簺闆堕澶у挅浠€傛按鏋滃悰鐨勫惈绯栭噺涓€鑸楂樹竴浜涳紝鏇村鏄撳惛寮曠埍鍚冪敎椋熺殑瀛╁瓙浠紝涓嶈繃瀹冪殑缁寸敓绱犮€佺熆鐗╄川銆佽喅椋熺氦缁翠互鍙婃姉姘у寲鍓傜瓑鍚噺閮介潪甯稿彲瑙傦紝浣垮緱瀹冧滑鏄腑鍥藉眳姘戣喅椋熸寚鍗椾腑鏄庣‘鎺ㄨ崘鐨勯鍝併€備綔涓洪浂椋燂紝鏃㈣В棣嬪張鎻愪緵鐑噺锛岃繕鑳戒繚璇佹剦鎮︾殑杩涢蹇冩儏锛屽疄鍦ㄦ槸浼樿秺鐨勯€夋嫨銆? 123456

[Efficacy of perilla oil and sea buckthorn oil]_ sea buckthorn oil _ white su oil _ function

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Taiji Shares (002368): Revenue Structure Continues to Optimize Net Security and Cloud Services Business Rapid Growth

Taiji Shares (002368): Revenue Structure Continues to Optimize Net Security and Cloud Services Business Rapid Growth

Event: Recently, Taiji shares released the 2018 annual report, and the company achieved operating income of 60 in 2018.

16 ppm, an increase of 13 per year.

52%; net profit attributable to shareholders of the parent company3.

16 ppm, an increase of 8 per year.

29%; net profit attributable to shareholders of the parent company after deduction.

45 ‰, a decrease of 2 per year.

68%.

Opinion: The business structure continued to be optimized, and the gross profit margin increased slightly.

2018 preliminary company performance has grown steadily.

Among them, in the functional business segment, “network security and autonomous controllability” and “cloud services” businesses respectively achieved operating income.

55 ppm and 4.

67 trillion, the annual growth rate reached 47.

25% and 27.

31%, the segment with the fastest revenue growth.

The proportion of these two business segments in total revenue has further increased, reaching 20 respectively.

85% and 7.

77%, an increase of 4 compared with 2017.

77 and 0.

85 units.

The company’s traditional system integration services business has been growing at a slower rate and its share of total revenue has continued to decline.

System integration business revenue accounted for 52 in the beginning of 2018.

83%, a decrease of about 5 compared to 2017.

77 units.

The company’s overall gross profit margin increased slightly in 2018.

The budget expense ratio has not changed much.

The total initial R & D expenditure reached 3.

880,000 yuan, an increase of 34 in ten years.

69%, the growth rate of R & D expenditure is much higher than the growth rate of revenue.

In the beginning of 2018, the company’s net cash flow from operating activities reached 6.

80 ppm, a rapid increase of 111 a year.

85%, the cash flow situation has improved significantly.

Positive progress was made in the multi-business sector, with the NPC gold warehouse contract value doubling.

In 2018, the company continued to expand its business in cloud services, network security, autonomous 南京桑拿网 controllability, and other areas with strategic guidance of “data-driven, cloud-led future, and network security world”, and achieved significant progress.

In the field of cloud services, the size of the company’s government cloud users has continued to grow. On government clouds that have been built by companies such as Beijing, Hainan, and Shanxi, the number of government agencies and business systems that use cloud services has continued to grow.

At the same time, the company’s cloud service product system has been continuously enriched, and its operation service system has been continuously improved.

In the field of network security, core products such as the company’s all-policy big data platform, multiple sources and multiple public opinion big data platforms, network security situation awareness platform, and 都市夜网 integrated political and legal management platform have been continuously improved, and the company’s network security service market share has been improved.

In the field of autonomous controllability, the company relies on China Electronics Technology Safety and Reliability System Engineering Research Center and cooperates with industry partners to create a safe and reliable industrial system.

The company’s holding subsidiary NPC Jincang is a leading company in the field of domestic database.People’s Congress Jincang achieved a contract value increase of more than 100% in 2018, and worked with partners such as Esri and Hikvision to create a variety of industry solutions.

In addition, the company has also achieved rapid development in key business sectors such as “Internet + government services”, “Industrial Internet”, and “Finance Media”.

Earnings forecast and rating: What do we expect in 2019?
In 2021, the company’s operating income will be 68.

32, 77.

69, 87.

710,000 yuan, the net profit attributable to the parent company is 3 respectively.

96, 4.

75, 5.

580,000 yuan, according to the latest share capital4.

The calculated diluted return on 1.4 billion shares is 0.

96, 1.

15.1.

35 yuan, the latest expected corresponding PE is 35, 29, 25 times, maintaining the “overweight” level.

Risk factors: The advancement of autonomous and controllable technology is less than expected; the risk of business transformation; the risk of intensified market competition.

Liquor industry boom continues with high-end heavy-duty development

Liquor industry boom continues with high-end heavy-duty development

The spirit of the liquor industry continues to the development potential of the second-high-volume Yanghe Co., Ltd. It is expected that the liquor industry has undergone adjustments in recent years, the demand structure and market environment have changed significantly, the industry as a whole is recovering, and it is ushering in another round of development opportunities.

  According to Shen Wanwanyuan survey data, in 2017, liquor listed companies had revenues of US $ 164.8 billion, an increase of 27 in ten years.

67%, net profit of 52.6 billion yuan, an increase of 44 in ten years.

58%.

In the first quarter of 2018, liquor companies listed had revenue of 614.

9.8 billion yuan, an annual increase of 27.

88%, net profit 217.

2.7 都市夜网 billion, an annual increase of 37.

83%, the liquor industry maintained a high degree of prosperity and accelerated overall.

  Based on the data of the past few years and the analysis of the industrial situation, Song Shuyu, the vice chairman and secretary general of the China Wine Industry Association, said that the adjustment of the industrial structure proposed by the liquor industry in the past few years has improved significantly, the industrial adjustment has continued, diversified consumption, intensified competition, and capacityExcessive, long-term lack of good wine development characteristics, the future will usher in a new era, new consumption, new development trends.

  The preliminary analysis believes that the liquor boom cycle gradually extends from high-end to sub-high-end to real estate sub-high end. In 2016, 厦门夜网 high-end liquors took the lead to recover. In 2017, the country’s sub-high-end liquors broke out.Accelerated release occurs.

It can be seen that the sub-high-end leader will benefit from this round of industry adjustments and upgrades. As a sub-high-end leader in wine industry, Yanghe Co., Ltd.’s development potential is worth looking forward to.

  Middle-income people recommend famous alcohol consumption According to research data from The Boston Consulting Group, 2015?
In 2020, the number of middle- and middle-income groups and upper-middle-income groups will increase from 81 million to 1.

4.2 billion households, with a compound annual growth rate of 12%; the total consumption expenditure of households with middle income and above is expected to increase from 10.

6 trillion to 23.

7 trillion yuan, with a compound annual growth rate of 17%, and the number and purchasing power of people with middle income and above will increase significantly.

  From 2010 to 2015, the average monthly disposable income was 1.

Households with more than one in 250,000 increase from 16 million to 53 million, and it is estimated that by 2020, the annual household monthly disposable income will be 1.

The number of households above 250,000 will reach 99 million, with an annual compound intensity of 13%.

The growth of middle-income groups has also brought about the growth of famous wine consumption groups.

  Shen Wanhongyuan research report shows that the most, since the beginning of 2013, the price of famous wines has been significantly reduced. Moutai, Guojiao 1573, and Shuijingfang have cut prices by as much as 21%, 37%, and 34%.

At the same time, the per capita disposable income of urban residents has increased steadily, the ratio of famous liquor to the per capita disposable monthly income of urban residents has greatly decreased, and the purchasing power of residents has relatively increased.

As a result, famous wines are “still inexpensive.”

  Another detail is that the price of wine for wedding banquets in most cities has also been comprehensively increased. Hangzhou, Jinan and other provincial capitals use 200 yuan for wedding banquets?
The price ranges from 500 yuan. The mainstream prices in provincial capitals have reached more than 200 yuan, and in third- and fourth-tier cities, towns and counties have generally reached more than 100 yuan.

It can be seen that the consumption upgrade has gradually increased the main price band of mass liquor consumption.

  Since 2011, the consumption pattern of the liquor industry has changed significantly. In the past, government consumption accounted for over 80%, leading to a gradual increase in the proportion of large-scale consumption. In 2017, it even exceeded the government consumption ratio. The growth of mass consumer demand is a stable processNo cliff-like decline will occur, and this structural change has stretched the boom cycle of the liquor industry.

  The consumption upgrade of the industry has created more growth space for the brand.

There are not many famous liquor brands in liquor. From 1985 to the present, the three cycles of the liquor industry have created Fenjiu, Wuliangye and Moutai. The brand is the core asset of liquor enterprises, and the historical accumulation cannot be copied.

As one of the eight famous wines in the country, Yanghe’s brand can be traced back to the “Yanghe Daqu” of the Tang Dynasty. The reorganization of Yanghe as a “new national wine” appeared in various national activities, which effectively made the brand a new one.Stairs.

  From the perspective of the current industry structure of liquor, the concentration of high-end liquor is the highest, followed by the high-end liquor, and the low-end concentration is the lowest. Through the reshuffle of the industry, the concentration of the sub-high-end and the middle-low end is further exploded.Will definitely further improve.

Among them, the sub-high-end belt shows a growth trend of both volume and price. According to Shen Wanhongyuan’s view, the sub-high-end price segment is a gold price segment that truly enjoys consumption upgrades.

  Anxin Securities believes that the mainstream consumption (80?
300 yuan range) The market size is 250 billion?
300 billion yuan is the largest consumption level of liquor. Consumption upgrades continue, and the foundation for consumption of sub-high-end brand liquor has been greatly expanded and consolidated. The sub-high-end cost-effectiveness with national brand power has been unprecedented, and the current market expansion opportunity is the best.

  In 2017, the size of the sub-high-end market is about US $ 30 billion. The proportion of middle-income consumers will continue to increase in the next few years. The sub-high-end market is expected to continue to expand, and the market size is expected to exceed 60 billion US dollars in 2020.

With a conservative consumption upgrade ratio, the next high-end will receive an annual increase of about 15 billion in the future, which is very promising.
  In the second high-end zone, Yanghe is obviously relatively strong and expanding.

Comparing the revenues of several major sub-high-end liquor products, in 2017 Crystal Sword revenue was 8 billion, accounting for 22%; Yanghe Dream Blue revenue was 4.5 billion, accounting for 13%; Honghualang product revenue was 3.5 billion, accounting for 10%;The revenue of other brands of sub-high-end products accounts for less than 10%. With the acceleration of the nationalization of Yanghe, it has the potential to quickly increase its volume and gradually become a national single product.

  According to the China Industry Information Network report, in 2016, the liquor market in Jiangsu Province totaled 32 billion yuan, accounting for 30% of the high-end and about 9.6 billion, of which Yanghe Dream Blue was about 4 billion, and the world ‘s premium A accounted for 10 billion.5 billion yuan.

Yanghe Dream Blue accounts for about 40%.
Since 2016, Dream Blue’s revenue has maintained high growth, with a growth rate of more than 50% in 2017, accounting for more than Sky Blue.

In the first half of 2018, Dream Blue maintained a growth rate of more than 50%, and overall revenue across Yanghe accelerated at the same time.

With the mainstream price of Jiangsu moving up to 300 yuan and the rapid expansion of the sub-high-end market, Yanghe, as the province’s sub-high-end faucet, enjoys the expansion bonus.

  The data shows that in 2017, the dream province’s extra-provincial income accounted for 25%, and in the first quarter of 2018, the dream province’s extra-provincial income accounted for 30%.The upgrade continues, and the income outside of Dreamland rises.

  At the same time, the brand of Dream Blue was further spread and strengthened through the slogan “Chinese Dream, Dream Blue” and its frequent appearance on the international stage.

In terms of channels, Yanghe has started to deepen its nationalization since 2011. Research data show that in 2018, the new Jiangsu market has reached 495, with about 9,000 dealers across the country, more than 300 offices and 5,000 sales staff.

Through the operation of the sea blue and sky blue in the early stage, there is a certain amount of experience and channels accumulated in the promotion outside the province, which is conducive to the rapid distribution of Dream Blue in the country.

Can be seen in the brand and channel, Yanghe’s advantages are all advantages, in the next high-end fierce competition will definitely stand out.

  Internal and external factors are the key to success. Shen Wanhongyuan stated in the industry in-depth research report that he must choose a company with strong brand + flexible mechanism + excellent team from the bottom up, regardless of team, system, culture, culture or brand, product.To analyze the channels, Yanghe has the qualities that a “good company” should have.

  Yanghe has a highly qualified team of colonies.

In particular, the core management personnel have a bachelor degree or above.

The high-quality talent team guarantees the correctness of the company’s strategic direction and the improvement of the company’s management mechanism.

And the core leaders are members from the grassroots level. They have high loyalty and rich experience to the company, and are young and strong. They are one of the most powerful combinations among wine companies.

  After two mixed reforms, Yanghe leads the industry in operating efficiency.

Resellers’ shareholdings and the company’s interest constraints, reduce agency costs, fully mobilize the enthusiasm of the connection and dealers, the company has sufficient endogenous driving force for development, and its industry efficiency is leading in the industry.

Leadership is conducive to enhancing the stability of the company’s team and ensuring the effectiveness and consistency of corporate governance.

  From the start of the industry boom in 2003, the launch of the big blue single product, let the blue whirlwind sweep across the country, to 2012?
During the industry adjustment period in 2014, other wine companies proposed a deep nationalization during the strategic contraction to establish a new Jiangsu market.

Each step of Yanghe is stepping in the right direction at the right time, accelerating expansion during adversity, and calmly responding to adversity, which reflects the company’s super strategic ability, and the correct strategic direction and teamExecution.

No matter from the level of executives’ individual ability or team execution, Yanghe is leading other sub-high-end wine companies.

  It is understood that Yanghe has rebuilt the strategy of “three-do, three-do”, that is, do not sell in the market, do not do products in the brand, do not do the current in the future, and make realistic choices, and continue to create new growth poles.

This is the internal motivation for the achievement of a “good company”, and the innovation and development in brand, product, and channel have been analyzed before, so I won’t repeat them here.

  Essence Securities believes that the company’s two major growth poles in the future, one is from the renewed legend of Dream Blue, and the other is the acceleration of its national layout.

It is understood that after 4 years of expenses, Yanghe’s market share outside the province has continued to increase. According to the 2017 annual report, the share of income in and outside the province in 2017 was 53:47.

  According to survey data, in the first quarter of 2018, the proportion of revenues from markets outside the province was more than half. Among the markets outside Henan, about 30 billion yuan in Henan in 2017, about 20 billion yuan in Shandong, and about 16 billion yuan in Anhui.

Among them, the new Jiangsu market accounts for more than 70% of the extra-provincial revenue.

In 2017, the growth rate of Henan, Anhui, Shandong, Hebei, and Zhejiang exceeded 20%. In 2018, the growth rate is about 20%.
35%.

The current sales situation is good, and the internal planning of markets outside the province exceeds 30%.

  In summary, combined with the consumption upgrade of the liquor industry and Yanghe’s own operating and management advantages, the development potential of Yanghe will further explode, and future growth is expected.

By Li Xin

Beijing New Building Materials (000786): Revenue drops slightly; profit pressure is under pressure;

Beijing New Building Materials (000786): Revenue drops slightly; profit pressure is under pressure;

Event: The company released the 2019 first quarter report.

The company achieved revenue 24 in the first quarter of 2019.

27 ppm, a decrease of 2 per year.

8%; net profit achieved 3.

28 ppm, a decrease of 33 per year.

1%; net profit after deduction 3

24 ppm, a decrease of 31 per year.

8%.

Quarterly revenue has fluctuated at least slightly, sales are expected to remain flat over schedule, and average prices will fall.

2019Q1 revenue level 2.

8%, which is expected to be mainly affected by the increase in gypsum board business income. The revenue of light steel keel business is expected to increase and increase significantly; in terms of gypsum board business, the overall demand in the gypsum board industry is still poor (the area of completed housing in the first quarter of 2019 decreased by 10%.

8%) and the company ‘s capacity has been released, the company continues to increase its market share through price and product structure adjustments. It is expected that the 杭州夜生活网 sales of gypsum board will be basically flat in the first quarter of 2019, and the average sales price will increase (the average price in 2018 will fall quarter by quarterTrend, the first quarter of 2018 has a high average price base), which is expected to remain stable from the previous quarter; overall profitability has declined, and gross profit margin is 30.

07%, a year down by 5.

4 goals. It is expected that the impact of falling prices and increasing the proportion of light steel keels will be reduced. The overall expense ratio has increased, and the sales expense ratio has remained stable.1.

The 63 expenditures are expected to be mainly due to the increase in the proportion of research and development expenses; the financial expense ratio has declined slightly.

Net decrease in operating cash flow1.

80,000 yuan, 深圳桑拿网 the asset-liability ratio further reduced, and litigation costs increased.

2019Q1 operating net cash flow is -1.

8 ppm, a year-on-year net inflow of 1.

From the perspective of the cash-to-cash ratio of $ 9.4 billion, the cash-to-cash ratio is 97%, which is at least 5 percentage points lower, the cash-to-cash ratio is 122%, and the ratio is increased by 7 each time.Flow of net interest income; the company’s period-end monetary funds + transactional financial assets + wealth management products exceeded US $ 3 billion, while the asset-liability ratio gradually decreased to 18.

5%.

In addition, the company incurs a total of 24.73 million yuan in attorneys’ fees, travel expenses, and settlement fees on US gypsum board litigation matters each year, an increase of 21% per year, accounting for 7% of net profit.

5%, an increase of 3.
.

3 units.

Investment suggestion: In the medium and long term, the industry demand is still growing, and the trend of the increase in the penetration rate of gypsum board in the residential and partition wall areas will be determined.Overseas production capacity may become a new bright spot in the next few years. At the same time, due to the consumption upgrade trend, the company’s proportion of high-end products will continue to increase gradually, which will increase the overall profitability and be optimistic about the value of long-term investment.

We estimate that the company’s net profit attributable to its parent in 2019-2021 will be 24.

9, 29.

7, 35.

200 million, the EPS is 1.

47, 1.

76, 2.

08 yuan, corresponding to PE is 13, 11, 9 times; maintain the “buy” level.

Risk reminder: risks arising from the evolution of the macro economy and the real estate industry, risks of rising raw material and fuel prices, litigation risks, and risks of less-than-expected overseas business development