[Braised Crab]_Crab_How to make_How to make it good_1

銆愮孩鐑ц瀮锜广€慱铻冭煿_鎬庝箞鍋歘鎬庝箞鍋氬ソ鍚?
Xuancun Village, the awarding ceremony, the Han Dynasty, the mustard chain, and the chains are very difficult. It ‘s very easy to get around. It ‘s very easy to get around.锛岃惀鍏讳环鍊间篃浼氭洿楂樸€傝瀮锜瑰緢澶氫汉閮戒細鍒囨垚灏忓潡鐘讹紝鍏跺疄铻冭煿鏍规湰涓嶉渶瑕佸垏寰楀お灏忥紝鍙渶瑕佸垏鎴愪袱鍗婂氨鍙互杩涜鍒朵綔浜嗭紝鍦ㄥ垏濂戒互鍚庡厛鏀惧湪閿呬腑鐢ㄦ补鐐掑埗锛岄攨鐩栫剸涓€娈垫椂闂村氨鍙互浜嗐€?1銆佹妸铻冭煿鑵归儴鐨勮剱鐩栨墦寮€锛屾妸閲岄潰鐨勪笢瑗跨敤鍔涙尋骞插噣锛岀敤鍒峰瓙鎶婅煿娲楀共鍑€鍚庯紝鐢ㄥ垁涓€寮€涓轰簩銆傚垏闈㈡湞涓婃斁鍦ㄥ皬鐩嗛噷澶囩敤銆?銆侀攨閲屽€掔偣娌癸紝鐑х儹鍚庢妸濮滅墖鐖嗛锛岀劧鍚庡姞杩?纰楁按锛屾斁鐩愬拰涓€鐐圭偣绯栵紝澶х伀鐑у紑鍚庯紝閫愬潡鏀捐繘鍒囧ソ鐨勮煿鍧楋紝瑕佸厛鎶婅煿鐨勫垏闈㈡斁杩涙堡閲岀儷涓€涓嬪啀鏁村潡鏀捐繘姹ら噷锛堣繖鏍峰彲浠ヤ繚鐣欏鐐硅煿姹侊級锛岀劧鍚庡悎涓婄洊upsetting?5鍒嗛挓宸﹀彸銆傝捣閿呭墠鍔犲叆钁辫姳鍜岄鑿滄湯灏卞彲鍑洪攨浜嗐€?氭硶共杈f锛岃懕锛屽锛岃挏锛岃眴鐡i睿锛屾枡閰掞纴閰辨补锅氭硶1銆佺儹娌癸纴骞茶荆妞掋€佽懕銆佸銆佽挏鏈垎棣欙紝杞皬鐏姞涓€澶у嫼璞嗙摚閰憋紝缁冨嚭绾㈡补锛?銆佸姞鍏ヨ倝鏈倰鏁o紝鎶婂垏鏂殑铻冭煿鏂彛鏈濅笅鐓庯紝鎸ㄤ釜鎺掑ソ锛屽€掑叆涓€鐐规枡閰掋€侀叡娌癸紝绋嶅井鍔犱竴鐐规按鍔犻攨鐩栫儳銆?銆佸姞鍏ョ殑璋冩枡鍜岃瀮锜规湰韬細鍑烘按锛岄兘涓嶇敤鍔犵洂浜嗐€傛眮蹇共鏃跺嚭閿咃紝棣欏晩銆傚挨鍏惰繖涓倝鏈媽楗紝澶ソ鍚冧簡銆?

Where does the agency go in a week?

Yi Fang, Thousands Joint Venture Capital, etc. to study these stocks (list)

Where does the agency go in a week?
Yi Fang, Thousands Joint Venture Capital, etc. to study these stocks (list)

Where does the agency go in a week?
E Fund, Thousands Joint Venture, etc. studied these stocks (list) Source: Securities Times Online Week (7.

twenty two?
7.

26), A shares fluctuated upwards, and the Shanghai Stock Index and Shenzhen Component Index respectively expanded and increased by 0.

70% and 1.

31%.

iFinD statistics show that a total of 59 listed companies disclosed the survey reports in the two cities that week.

From the perspective of industry distribution, the companies being researched are concentrated in electronics, electrical equipment, pharmaceutical and biological industries.

  The research focus of the electronic industry into institutions is classified by industry. Among the companies studied last week, the number of companies involved in the electronics industry was the largest, at 7.

The electrical equipment industry followed closely, with a total of 6 companies being 无锡夜网 investigated.

In addition, the number of companies involved in the pharmaceutical, biological, and chemical industries also overlaps.

  Regarding the electronics industry, the current semiconductor industry is highly prosperous, and the global semiconductor industry continues. However, TSMC ‘s second-quarter results exceeded expectations. Song Jiangbo, an analyst at Wanlian Securities, believes that the semiconductor boom has changed in the second half of the year. It is recommended to focus on improving fundamentals or related issues.The introduction of supporting policies.

At present, the trade friction between Japan and South Korea continues to intensify. Japan restricts the export of key raw materials to South Korea, mainly involving semiconductors and OLED panels. Short-term related sectors are expected to be realized.

In addition, A-share listed companies have 杭州桑拿网 gradually entered the performance announcement period, and it is recommended to pay attention to individual stocks that have exceeded their expectations.

  In addition, for the consumer electronics sector, Song Jiangbo said that the 5G industry chain is still the main line.

According to data from the China Academy of Information and Communication Technology, in June 2019, local domestic mobile phones were reset 3431.

0 million units, down 6 every year.

3%, a slight rebound in the two months before the end.

From January to June 2019, the overall budget is 1.

8.6 billion units, down 5 each year.

1%.

It is expected that through the formal distribution of 5G licenses, the peak period of 5G base station construction will be ushered in the past two years. It is recommended to pay attention to communication PCB companies.

While 5G commercial drones are driving many emerging applications, including 5G mobile phones, AR / VR, high-definition video, smart speakers, etc., it is recommended to focus on industry leaders who have determined the effects and are reasonable.

  In the electrical equipment industry, most public funds recently announced positions in heavy stocks. According to data from Guosheng Securities Research, at the end of the second quarter of 2019, the power equipment sector accounted for 3 positions in all funds.

62%, down from the previous month.

1 average.

Wind power sector, from the perspective of holding stock market value, Goldwind Technology’s total market share holdings ranked 28th.

09 billion, ranking first in the wind power sector.

However, from the perspective of quarterly quarterly position changes, in the second quarter Goldwind Technology was reduced to 69.65 million shares, and Tianshunfeng Energy gained 1392.

60,000 shares, ranking first in the industry.

In the photovoltaic sector, from the perspective of fund holding stock market value, Longji shares and Tongwei shares are absolute leaders, holding stock market value distribution of 12.9 billion yuan and 66.

800 million yuan.

Judging from the changes in quarterly positions, Hengqiang, a leading company, continued to gain shareholdings, Longji shares gained 183.81 million shares, and Tongwei shares gained 99.87 million shares.

  According to iFinD data of these listed companies, Jinjia has gradually received 99 institutions, ranking first in terms of individual stocks; Semir has gradually accepted 36 institutions, ranking second, and three squirrels have gradually accepted 25 institutions, rankingthird.

  At the investigation meeting of Jinjia Co., the relevant person in charge said that the company’s foogo electronic cigarette products entered the pre-sale stage on June 18 and was officially released on July 1. The financial data of the new tobacco business for the semiannual report every year has not yet been listed.In the TO C sales channel, foogo electronic cigarettes have equal emphasis on online and offline channels. In China, online channels are the first. For example, flagship stores are opened on e-commerce platforms such as JD.com, and through a variety of offline agencies such as brand agents and inter-industry alliancesCooperation model: In terms of products, the company has newly built a professional team of perfumers to expand research and development investment in the work of optimizing tastes. As the first product of foogo, the K series has also attracted a lot of attention from consumers on its salesWith love, the company will also continue to focus on consumer feedback, take advantage of itself, and adjust products based on feedback.
In terms of TO B business, Jiayu Technology, which was jointly established by Jinjia Technology and Jinjia Technology and Huayu Technology, not only undertakes the production and processing of steam smoke and low temperature non-combustion smoke in the group system, but also develops other brands of OEMs./ ODM business.

  From the perspective of specific research institutions, private equity investment in Freshwater Springs investigated Jinjia shares, Qianjin joint ventures studied Changan Automobile, Jinjia shares; in terms of public funds, Boshi Funds studied Lingnan shares, Semir Apparel, and Huaxia Fund studied Jinjia shares, Bio-Fund, E Fund Fund researched Jin Jia shares, Semir Apparel, China Merchants Fund studied Jin Jia shares; in terms of overseas institutions, Morgan Stanley, Canadian Pension Fund Asia Investment Corporation have all studied Jinzhi Technology.

[Best practice of fried sausage with eggs]_How to_How to do

銆愰浮铔嬬倰棣欒偁鐨勬渶浣冲仛娉曘€慱鎬庝箞鍋歘濡備綍鍋?
In the world, you are in the middle of the world. You are in trouble. You are here. You are here. You are here. You are here. You are here. You are here. You are here.韩浣撶殑闇€姹傘€備竴澶╀竴涓浮铔嬶紝鍙互璇存槸钀ュ吇鏃╅鐨勬爣閰嶃€傞浮铔嬫湁涓嶅悓鐨勭児楗柟娉曪紝鎵€浠ユ垜浠篃鑳藉搧灏濆埌涓嶅悓鐨勫彛鎰熴€備笅闈㈡垜浠潵缁欏ぇ瀹朵粙缁嶄竴涓嬮浮铔嬬倰棣欒偁鐨勬渶浣冲仛娉曪紝甯屾湜璁╁ぇ瀹跺悆鍒版洿澶氫笉鍚岀殑楦¤泲缇庨銆傞鑲犵倰楦¤泲鎬庝箞鍋氬憿?What do you think?275.5(澶у崱)涓绘枡楦¤泲涓ら棣欒偁涓€鏍规柟娉?SorrelI ‘m not sure what to do, but I ‘m not sure what to do, and what to do, I ‘m not sure what is going on, what if I ‘m going to do it共鍑€涓€浜涖€傞鑲犲垏鐗囥€傚皢棣欒偁鐨勫澹冲幓鎺夛紝鐒跺悗鏂滄枩鍦板垏鎴愮墖锛屽鍥炬墍绀猴紝杩欐牱鑳借棣欒偁鍦ㄧ倰鐨勬椂鍊欐洿鍔犲潎鍖€锛屽悓鏃朵篃鑳藉叆鍛炽€傞浮铔嬭皟鍛抽亾銆傚線楦¤泲涓斁鍏ラ€傞噺鐨勭洂鍜岄浮绮撅紝鎺ョ潃鐢ㄧ瀛愭潵鍥炴悈鎷岄浮铔嬶紝璁╁叾鍧囧寑涓€浜涳紝杩欐牱鑳借楦¤泲鏇村姞鍏ュ懗锛屾暣閬撹彍灏辫繖閲屾斁鐩愶紝鍏朵粬姝ラ閮戒笉鏀剧洂銆傜儹閿呮斁娌广€傛帴鐫€鐢ㄥぇ鐏皢閿呯儳骞诧紝鐒跺悗鍏冲皬鐏€掑叆閫傞噺鐨勬补锛岄攨瑕佸共鍚﹀垯寰堝鏄撴簠鍑烘补鏉ャ€傜厧楦¤泲銆傜瓑娌归攨鎱㈡參鍙樼儹浠ュ悗锛屽啀灏嗛浮铔嬪€掑叆閿呬腑鐓庯紝鍍忓浘涓偅鏍凤紝涓嶈缈荤倰锛岃繖鏍锋墠鑳界厧鍑烘紓浜殑楦¤泲鏉ャ€傜炕鐐掗浮铔嬨€傜瓑楦¤泲鍏ㄩ儴鐓庣啛浠ュ悗鍐嶇敤鍕哄瓙鎼呮媽缈荤倰涓€涓嬶紝杩欐牱鎵嶄繚璇侀浮铔嬩笉浼氱劍鎺夈€傜厧楦¤泲鐨勬椂鍊欑伀瑕佸皬锛屽洜涓洪浮铔嬫湰韬氨寰堝鏄撶啛鐨勩€傛斁棣欒偁銆傞浮铔嬪緢蹇氨鐔熶簡锛岀劧鍚庡皢鍒囧ソ鐨勯鑲犳斁鍏ラ攨涓紝鐒跺悗缈荤倰涓€涓嬶紝鐢ㄥ皬鐏參鎱㈢倰锛岀洿鍒伴鑲犳參鎱㈠彉鐑€傜炕鐐掕捣閿呫€傚洜涓洪浮铔嬪拰棣欒偁鏈韩寰堝鏄撶啛锛屾墍浠ヤ笉鐢ㄧ倰寰堥暱鐨勬椂闂达紝鍦ㄨ鍑洪攨鍓嶅€掑叆閫傞噺鐨勬枡閰掑拰閱嬶紝杩欐牱鑳借杩欓亾鑿滄洿棣欍€傛敞鎰忎簨椤瑰枩娆㈠悆楦¤泲鐨勬湅鍙嬪彲浠ュ仛涓€涓嬶紝涔熸槸姣旇緝绠€鍗曠殑銆?

[How much chocolate will be fat in a day]_chocolate_how to eat_how to eat

[How much chocolate will be fat in a day]_chocolate_how to eat_how to eat

Chocolate is a favorite of many people, especially female friends.

Studies have found that eating chocolate in moderation has many benefits to the human body, but it is best not to consume more than 100 grams a day, otherwise adverse symptoms such as weight gain will occur.

First, how much chocolate eats a day will be fat 1, should not exceed 100 grams per day Generally speaking, it is best not to eat more than 100 grams of chocolate a day, because we all know that the change in chocolate is relatively high, about 100 grams of chocolate is about 589Cal, this is already much larger than many foods, so in order to avoid getting fat, it is best not to eat more than 100 grams of chocolate a day.

2. It is best to choose dark chocolate. If you want to eat chocolate without gaining weight, in addition to paying attention to the amount of chocolate, you must also pay attention to the type of chocolate you eat.

For example, if you want to lose weight or eat chocolate without gaining weight, then it is best to choose dark chocolate or light chocolate, because these chocolates have less sugar content than milk chocolate, etc., so they may also reduce too much, so they willMore suitable for people who need to lose weight.

Second, how much chocolate can be eaten every day 1. Normal people are suitable to eat 15 to 30 grams per day, excluding people with diabetes and obesity.

2. Chocolate is divided into white chocolate, dark chocolate and milk chocolate.

3. Dark chocolate is suitable for daily consumption. Dark chocolate is good for human health. Dark chocolate can increase antioxidants in the blood into classified flavones, prevent heart disease, and soften blood vessels.

4. Do n’t eat too much dark chocolate. If a person has replaced enough auntie energy a day and the amount of exercise is not enough, eating more chocolate will cause a physical burden.

Foster (603806) company review: slightly better than expected EVA film performance

Foster (603806) company review: slightly better than expected EVA film performance
Investment Highlights Event: The company announced the third quarter report of 2019 and achieved revenue 苏州桑拿网 of 45.91 trillion, with an increase of 34.60%; net profit attributable to mother 5.92 trillion, an increase of 70.80%; deduct non-attributed net profit 4.9.3 billion, an increase of 63.73%; earnings per share 1.13 yuan, ROE 9.96%.Among them, 3Q19 achieved revenue of 16.12 trillion, the same increase of 31.93%; net profit attributable to mother 1.9.4 billion, an increase of 58.98%; deduct non-attributed net profit1.8.9 billion, an increase of 76.50%; EPS 0.37 yuan, ROE 3.32%, slightly better than expected.  The profitability was basically flat, and the expenses dropped slightly during the period.In the third quarter of 19, the company’s gross profit margin and net profit margin were 20 respectively.19% / 12.01%, change by +0 each year.41 / + 2.00PCT, the chain changes are -0.40 / -1.32PCT.The expense ratio during the third 佛山桑拿网 quarter of 19 was 6.53%, an increase of 0.01PCT, a decrease of 1 from the previous month.01PCT.  The average volume and unit price of EVA film increased, and the cost decreased slightly.From the first quarter to the third quarter of 19, the company’s EVA film achieved operating income of 40.83 ppm, an increase of 37 per year.93%, the film is degraded 5.4.7 billion flats, an increase of 29 every year.91%, of which 1Q-3Q19 film is sold separately 1.98/1.57/1.9.2 billion flats, an increase of 48.00% / 12.32% / 30.17%.Unit price of 3Q19 film is 7.52 yuan / square meter, the same increase of 4.30%, an increase of 0 from the previous month.94%, we believe that the main reason for the price increase is the increase in the price of ordinary film and the increase in the proportion of high unit price POE and white EVA.In addition, the average purchase price of 19Q3 EVA resin was 11.60 yuan / kg, not including 0 for the time being.09%, cost is slightly reduced.  Backplane business is relatively stable.In the first quarter to the third quarter of 19, the company’s backplane realized operating income3.96 ‰, an increase of 8 per year.39%, the backplane shortened 36.99 million square meters, an increase of 22.10%, of which 1Q-3Q19 sold 1028/1440 / 12.3 million square meters respectively, increasing by 16 each time.55% / 42.51% / 8.25%.Unit price of the backplane was 10 in the third quarter of 19th.39 yuan / square meter, with the same drop of 9.73%, meanwhile, the average purchase price of PET film is 10.40 yuan / kg, temporarily not including 14.12%.  Investment suggestion: Net profit is expected to be achieved in 2019-2021.82, 8.93, 10.32 ppm, an increase of 4 per year.04%, 14.27%, 15.58% (after deducting the impact of the P3 plant demolition compensation, the net profit in 2019 increased by 59.36%), the current sustainable corresponding PE for three years is 27, 24, and 21 times, maintaining the “overweight” level.  Risk alert events: risks of industry fluctuations and intensified market competition.

[Black Bean Catfish Taboo]_Nutrition Value_Cautions

[Black Bean Catfish Taboo]_Nutrition Value_Cautions

I believe that people usually eat a variety of tricks, such as soup, because the weather is cold, if someone comes back from outside without a bowl of hot soup to drink, they will also feel very uncomfortable, you must drink more soup in winterAnd, to drink a soup with high nutrition, black bean catfish soup is a very delicious, effective, high nutritional value food, there are not too many taboos, you can rest assured to eat.

Original Title: Black Bean Sturgeon Soup Ingredients: Black Bean Sturgeon Ginger Replaces the Hydrochloride Method: 1. Soak black beans in cold water for four or five hours or more, soak the beans 2, and open the sturgeon and clean up.

Ginger slices 3, add a small amount of oil to the pot, then add the anchovies, fry a bit hard on one side, and turn over and fry the other side.

If you fry the fish before, the fish soup will not be fishy. 4 Pour the pot into a sufficient amount of water, cold or hot water!

More, because it will take longer to boil the fish 5. After boiling over medium heat, skim the floating ends, then add ginger slices, pour black beans, and simmer for about 90 minutes over low heat.

It’s a long time, but this kind of fish soup is delicious. 6. Add salt and simmer before drinking.

Explain, if you boiled one night in advance and put salt when heating the next day, this time is the so-called “salt 7 before drinking, this soup, the fish is basically broken and can not be eaten, andBe careful stabbing.

But eat the beans. It ‘s very nutritious. Tips: If you do n’t want the continuous fish soup to turn white, there are some tips, but my house does n’t need boiling water.

If you fry the fish a little more (of course, it ca n’t be burned, pay attention to the yellow on both sides of the fire, then turn to low heat), if the fish (fish head is also OK), you put the water (cold water, do not turn off the fire), Pouring water directly into the pot), boiling for 10 minutes, the soup is broken in vain. This is a short-time cooking soup, we call it rolling soup.

Ganneng (000899) company comment: Fengdian Phase 3 2 MW thermal power was removed from the list of suspended construction and resumed a key step!

Ganneng (000899) company comment: Fengdian Phase 3 2 MW thermal power was removed from the list of suspended construction and resumed a key step!
Recently, the National Development and Reform Commission, the State-owned Assets Supervision and Administration Commission and the Energy Bureau issued a joint communiqué on the “Notice on Moving the Gannengfengcheng Phase III Expansion Project from the List of Coal-fired Power Outage Projects in Jiangxi Province in 2017” (Development and Reform Energy[2019]No. 1868).It was agreed to remove the 2 × 1 million kilowatt project of Gannengfeng Power Phase III from the list of coal power shutdown projects in Jiangxi Province in 2017. Fengdian Phase III resumption of work is a key step!After the new project is put into operation, the company’s installed capacity will increase by 133%. Fengcheng’s third-phase expansion project is a key power construction project invested by the company in Jiangxi Province. It will build a 2 × 1 million kilowatt ultra-supercritical, secondary intermediate reheating, and condensing combustion.Coal generating set.Affected by the “11.24” Extraordinary Security Incident, the project was suspended on November 24, 2016. The project was removed from the list of suspended construction, and a key step was taken to resume work.The company will start construction as soon as possible after completing the special assessment and obtaining legality documents.According to the company’s supplementary EPC contract with the Central South Institute, the project construction period is 20 + 4 months. The company is a Jiangxi province-owned power generation enterprise, and its main business is thermal power. It currently operates Fengcheng Phase 2 thermal power plant with an installed capacity of 2 × 700,000 kilowatts and another 100,000 kilowatts of hydropower. After Fengdian Phase 3 is put into operation, the company’s installed capacity will increase133%. The power supply and demand in Jiangxi Province are tight, and the demand for new power is strong. The utilization hours of new projects are guaranteed. In recent years, the secondary production in Jiangxi Province has grown steadily, and the power consumption of tertiary production and residents has increased rapidly.The average annual growth rate during the first three years of the 13th Five-Year Plan period was 9.54%; At the same time, the newly-added installed capacity in the province grew slowly, and the utilization hours of the stock units increased year by year.Constrained by factors such as resource conditions, Jiangxi’s power supply is mainly thermal power, and the unit utilization hours are high: 5,269 hours in 2018, ranking first in the country; 4,189 hours from January to October 2019, second only to Inner Mongolia (4443 hours).After Fengdian Phase III is put into operation, Jiangxi’s coal-fired emergency can be solved. The company will fully promote the resumption of the project. It is expected that the unit utilization will be guaranteed. In 2015, we will raise funds to increase the amount of cash on hand and the asset-liability ratio is low. According to the preliminary planning of the project construction, the total dynamic investment of Fengdian Phase III project is about 76.700 million, of which the project capital is 15.300 million, accounting for about 20% of dynamic investment.In 2015, the company will increase its net proceeds to approximately 21.500 million US dollars, currently sufficient funds, can meet the capital requirements for subsequent construction; after raising funds in 2015, the company’s asset-liability ratio has remained below 40%, and the financing space that can be broken through at present can be used for future project construction.A financing method.The project is expected to proceed smoothly. Profit forecast: We expect the company’s net profit attributable to its parent to be 3-20 in 2019-2021.42, 3.72, 4.40,000 yuan, EPS is 0.35, 0.38, 0.41 yuan / share.Maintain 杭州桑拿网 “Buy” rating. Risk warning: coal price rises, electricity price is reduced, power consumption is reduced, and the reconstruction of Fengdian Phase III is less than expected

Kevin Education (002659): 19Q1 Increments Narrow Expected Expected Twisted Losses

Kevin Education (002659): 19Q1 Increments Narrow Expected Expected Twisted Losses

Event: The company achieved zero operating income in 2019Q1.

80,000 yuan, an increase of 98 in ten years.

8%; net profit attributable to mother may be zero.

20,000 yuan, an annual increase of 30.

7% of basic budget income -0.

04 yuan / share.

The sharp increase in enrollment led to a high increase in revenue and a decrease in net profit: the company achieved 0 revenue in 19Q1.

800 million, a big increase of 98 in ten years.

8% is basically due to the substantial increase in 武汉夜生活网 the number of students in the school. In the 18/19 school year, the number of students in Haidian Kevin School and Chaoyang Kevin School totaled about 1,200, an increase of more than 500 from the previous school year.

2019Q1 achieved net profit attributable to mother-0.

200 million US dollars, a year-on-year increase of 31%, more than narrowed the improvement in the first quarter of 2018.

The advance receipts increased significantly, and the profit margin improved significantly: in the first quarter of 2019, the company received advance funds of 1.

1 ‰, a year-on-year increase of 59%, which is essentially caused by the increase in tuition fees for new students in the 18/19 school year. It is expected that the pre-revenue income will be recognized quarterly in 2019 to ensure growth in growth income.

The company’s gross profit margin for Q1 in 2019 was -33.

7%, an increase of 64 per year.

5 averages; net margin is -25.

9%, an increase of 48 a year.

4 percentage points, the improvement of profit margin is obvious, the essence is that the company’s brand effect gradually appears, resulting in a decrease in sales expense ratio7.

2 units.

In addition, the company’s 2019Q1 financial cost subsidies17.

2%, an increase of 7 per year.

One single, mainly because the company obtained long-term loans in the second half of 2018, due to the increase in financing scale.

If the stock is scarce, the target of pure education shall be reorganized according to the teachers of Tsinghua University.

In November 2017, the company completed the replacement of the original main steel structure business and became the first pure international education target of A shares.

At present, the company has two K12 international education schools-Haidian Kaiwen School and Chaoyang Kaiwen School, which will start in 2017 and 2018, with a total capacity of approximately 5,600.

Haidian Kaiwen School relies on Tsinghua Attachment Middle School, a top domestic middle school, and its teaching staff has changed. Currently, it has passed American university score certification and adopts AP curriculum teaching. Chaoyang Kevin School adopts K12 full-segment IB curriculum system, and uses the national curriculum standard and IB teaching system to allocate teachingTime, knowledge, cultivate students’ international thinking, innovative consciousness.

Non-public issuance of development quality education track: In June 2018, the company announced that it plans to issue non-public shares, and is expected to raise US $ 1 billion to attract the construction of talent quality education platforms.

The high-quality education platform covers 4 sections such as online learning platforms and intelligent classrooms. It has 5 product lines and plans to launch 32 teaching products.

The construction of this platform helps to promote the coordinated development of the company’s international education and quality education, significantly enhance the marginal benefits of high-quality resources, and enhance the company’s profitability.

Profit forecast and rating.

The company’s EPS for 2019-2021 is expected to be 0.

09 yuan, 0.

29 yuan, 0.

51 yuan.

The company is an international education target with scarce A shares. The asset replacement of its 杭州桑拿网 affiliated school is in a climbing phase, and its performance is resilient to resistance, maintaining the “overweight” level.

Risk warning: the risk of changes in industrial policies, the risk of Kevin School enrollment may be less than expected.

Linyang Energy (601222) 2018 Annual Report and 2019 First Quarterly Report Review: New breakthroughs in photovoltaic business, intelligent business welcome growth

Linyang Energy (601222) 2018 Annual Report and 2019 First Quarterly Report Review: New breakthroughs in photovoltaic business, intelligent business welcome growth

The annual report performance was in line with expectations, and net profit attributable to mothers increased by 10 in 2018.

6% In 2018, the company achieved operating income of 40.

1.7 billion (+11.

94%); net profit attributable to mother 7.

6.1 billion (+10.

86%); In the first quarter of 2019, the company achieved operating income6.

9.4 billion (+19.

08%); net profit attributable to mother 1.

5.5 billion 杭州桑拿网 (+5.

(63%); Among them, the company’s EPC system integration business achieved a major breakthrough in 2018. The Sihong Leader Base project has been connected to the grid, and the solar power generation business has grown rapidly.

Photovoltaic EPC has achieved breakthroughs and rapid growth in power generation. Intelligent power distribution will usher in development potential. The company’s power generation revenue will grow rapidly.

45GW, accumulative electricity fee income13.

3 billion (+21).

6%), with a gross profit margin of 70.

35%; In June 2018, the company and CGNPC on the progress of the 200MW Sihong Tiangang Lake Frontrunner Base Project11.

The 09 ppm EPC EPC contract, as of the end of 2018, the Sihong Frontrunner Base project has been fully connected to the grid and achieved revenue10.

13 ppm, gross margin is 17.

73%.

In 2018, the company’s smart power distribution business revenue14.

32 ppm, due to the contraction of State Grid, the company’s energy meter system products revenue13.

3.1 billion (-25.

36%).

In 2018, the company won 6 bids on State Grid and South Grid.

7.1 billion, as of April 2019, the company has won 3 bids in the South Network.

6.6 billion. In 2019, China will enter the meter replacement cycle. With the subsequent decentralization of the bidding volume of the State Grid, the company will further grow in the domestic market.

In terms of overseas markets, the company achieved overseas sales of $ 38.05 million (-19.

8%), and a total of $ 48 million in orders on hand so far, an annual increase of 57.

8%, overseas markets will keep up in 2019.

The profitability has improved significantly, and the index has promoted expenses to increase the company’s profitability in 2018.

Benefiting from the improvement of power cuts and the improvement of revenue structure, the company’s gross profit margin for sales in 2018 reached 45.

15%, an increase of 7 per year.

33pct; net sales margin 22.

44%, an increase of 3 per year.

39 points.

Due to the increase in convertible bonds and bank interest, the company’s expense ratio increased by 2 in 2018.

97 points to 18.

72%.

Risks suggest that domestic photovoltaic policies are negative, decentralized, front runners, and support for photovoltaic poverty alleviation generally deviates. Investment rating: Maintaining a “Buy” rating takes into account that the company is a photovoltaic operator + EPC advantage enterprise, and the industry is in the process of replacement and issuance, with improved power restrictions and cost reductions. The triple benefits are superimposed. The industry and the company are expected to be further repaired.

Combining absolute and relative estimates, we think the company’s reasonable estimate is 6.

92-9.

10 yuan / share, maintain “Buy” rating.

Aofu Environmental (688021) 2019 Performance Express Review Comments: Performance Express Meets Expected Capacity Delivery Guarantees Company Development

Aofu Environmental (688021) 2019 Performance Express Review Comments: 杭州桑拿网 Performance Express Meets Expected Capacity Delivery Guarantees Company Development

Event: The company released a report on 2019 results and achieved operating income2.

68 ppm, +7 for ten years.

98%, realized net profit of 51.44 million yuan, +10 for ten years.

01%.

Among them, Q4 achieved a net profit of 12.39 million yuan.

Performance is in line with expectations.

In 2019, the company’s overall operating conditions are stable and good. Benefiting from the increase in export sales and the implementation of the Sixth National Standard, the company’s revenue has increased.

In addition, the company’s non-recurring profit and loss 274.

40,000 yuan.

Domestic honeycomb ceramic carrier faucet.

The company deeply cultivates the field of honeycomb ceramic carriers. Its products include SCR carriers for 四川耍耍网 diesel engine exhaust gas treatment systems, DPF carriers, DOC carriers, and TWC carriers and GPF carriers for gasoline engine exhaust gas treatment systems.

The company independently researched and developed the technical system and production system centered on “Coriolite material structure and crystallization control technology” and “High-performance honeycomb ceramic carrier preparation process technology”.

Take the lead in undertaking key tasks in the National “863 Plan” and “National Key R & D Plan”, introduce outstanding R & D and industrialization capabilities, and the company has developed and mass-produced a series of honeycomb ceramic carriers suitable for National IV, National V, and National VI standards, Directly supplying Umicore, Johnson Matthey, BASF, Sinotruk Rubber & Plastics, Weifu Environmental Protection, Guiyan Catalysis and other major domestic and foreign major catalyst manufacturers, and successfully entered the domestic and foreign well-known vehicle or host manufacturers suppliers list, including China Heavy IndustriesLeading enterprises such as steam, Yuchai Power, Cummins, Daimler, etc.

The “National Six” standard is gradually implemented, and the market prospects of the honeycomb ceramic carrier are good.

In accordance with relevant national policies, gas vehicles, passenger cars, light diesel vehicles, and heavy diesel vehicles will be implemented on July 1, 2019, July 1, 2020, and July 21, 2021, and will be implemented on July 1, 2023.Implementing State 6b.

Combining the growth trend of commercial vehicle and passenger vehicle production, the overall market demand for honeycomb ceramic carriers in the automotive industry is expected to reach 260.1 million liters in 2025, with a market space of nearly $ 10 billion.

The company fully benefits the development of the industry.

Breaking overseas monopolies and accelerating domestic substitution.

At present, the industry is in a monopoly of overseas giants. Only Corning and NGK occupy only 90% of the market share.

The company’s strength and core technology continue to break through, and the product performance indicators have stood on the same starting line with overseas giants.

The company has abundant National Six standard reserve products. Through the implementation of National Six, the company is expected to continuously increase market share and realize the replacement of the honeycomb ceramic carrier field.

The release of production capacity has helped the company’s long-term development.

The company raised funds by IPO5.

US $ 2.3 billion to expand production capacity.

The company’s production capacity under construction includes an annual output of 4 million liters of DPF carrier, an annual output of 2 million liters of DOC, 1.6 million liters of TWC, and a 2 million liters of GPF carrier production project, an automatic technological transformation project of the automotive honeycomb ceramic carrier production line in Shandong production base, and the construction of a technology research and development centerproject.

After the project is put into production, it will further expand the company’s production capacity, strengthen the company’s research and development capabilities of cutting-edge technologies, and consolidate the company’s leading position in the industry.

“Buy” investment rating.

It is predicted that the company’s net profit for 2019-2021 will be 51.44 million, 66 million and 98 million yuan, respectively, and the EPS will be 0.

67 yuan, 0.

85 yuan and 1.

27 yuan, corresponding to a PE of 71/55/37 times. It is optimistic that the company benefits from the continuous growth of production capacity, and its performance is expected to continue to grow at a high level. Maintain the “Buy” rating.

Risk warning: the release of capacity exceeds expectations, and the risk of fluctuations in raw material prices.