Category Archive : 夜网

Don’t Tell Her won the Best Film at the 35th American Independent Spirit Awards

“Don’t Tell Her” won the Best Film at the 35th American Independent Spirit Awards
Sauna Night News February 9, the 35th American Independent Spirit Award Antique Awards Ceremony.”Don’t tell her” won the best film and best supporting actress, “Parasite” won the best international film.”Original Diamond” won the best director, best actor, best editing 3 awards, for Adam Sandler to recover the regret of missing the Oscar nomination.The full list of winners is as follows: Best Film: “Don’t Tell Her” Best Director: Ben Safdie, Joshua Safdie (“Original Diamond”) Best Actor: Adam Sandler (“Original””Drill”) Best Actress: Renee Zweig “Judy” Best Supporting Actor: William Duff (“Lighthouse”) Best Supporting Actress: Zhao Shuzhen (“Don’t Tell Her”) Best Director’s debut:Best Screenwriter for “The Talented Student”: Best Screenplay for “Marriage Story”: Best Documentary for “Meeting Yesterday”: Best Editing for “American Factory”: Best Film for “Original Diamond”: Best Photography for “Original Diamond”: Best International Film for “Beacon”:”Parasite” Robert Altman Award: “Marriage Story” John Kasowitz Award: “Free Me” Bonnie Award: Kelly Rechard Producer Award: Molly Asher deserves attention奖:拉沙德 Ernesto Green比虚构更真实奖:Nadia Shihab桑拿夜网编辑徐美琳校对何燕

ITTF announces cancellation of Korea, Australia Open due to outbreak

ITTF announces cancellation of Korea, Australia Open due to outbreak
The ITTF today announced that due to the global health crisis caused by the new coronary pneumonia epidemic, the two South Korea and Australia Opens scheduled for June were cancelled.On March 29, the ITTF announced that it would suspend all competitions before June 30, including the Korean Open scheduled for June 16-21 and Australia scheduled for June 23-28.Open.However, the epidemic continued to spread globally, and international travel restrictions continued to escalate, and the ITTF had to adjust its schedule again.The ITTF said it has kept close contact with the organizers of various events and will constantly update the schedule of international events to ensure that the health and safety of players, coaches, staff and fans are the first priority.According to the current epidemic situation, ITTF announced the cancellation of Korea Open and Australia Open.Also cancelled together were the 7 Junior Opens in France, India, and Argentina held from April to November.In addition, after experiencing a one-year extension of the Tokyo Olympics, ITTF also made adjustments to the Olympic Qualifications.Asian Olympic Qualifying (Originally scheduled for April 6-12, 2020), European Olympic Singles Qualifying (Originally scheduled for April 8-12, 2020), Complete Singles and Mixed Doubles Qualifying (Originally scheduled for 2020) April 15-19, 2014), Oceania Singles and Mixed Doubles Qualifications (Originally scheduled for 2020) and World Singles Qualifications (Originally scheduled for May 28-31, 2020) will be expected to reach 2021.Year, specific time to be determined.Sauna, Ye Wang Sun Haiguang Editor Xiao Wanli Proofreading Li Lijun

Jinzhi Technology (002090) In-depth Tracking Report: Smart Energy Leverages Ubiquitous Internet of Things Dongfeng Smart City Continues High Growth

Jinzhi Technology (002090) In-depth Tracking Report: Smart Energy Leverages Ubiquitous Internet of Things Dongfeng Smart City Continues High Growth
Investment logic: strategically focused on the main business, divesting some of the inefficient, asset-heavy businesses, with a net profit margin of 14 in Q2.6%, the start was smooth.In order to further reduce financial leverage and focus on the main business, the company set out to dispose of non-main business assets in the first half of the year, involving Zijin Trust, Bulgaria’s 10MW generator, conversion of the 198MW wind power project in Damaoqi, and execution of the company’s Ganhua power transfer.Investment income.H1 gross profit margin stabilized at 25.2%, financing reduced financial costs decreased, Q2 net profit reached 14.6%. Smart energy business sector: The flood of electricity in the construction of the Internet of Things will bring new major opportunities.In H1 2019, revenues from power generation, transformation and distribution automation increased by 15%, 57%, and -14%, respectively.Distribution automation: The company’s ability to mass-produce a new generation of switching terminals that meets the ubiquitous electric power Internet of Things construction standards, and the new generation TTU is expected to improve on the basis of the original 3-4%.In addition, distribution network terminal test equipment has technology and market leadership, and is expected to grow 40% in the next year; substation automation: Jinzhi ‘s market share is 3% in the bidding of the State Grid relay protection and monitoring system, and it is actively promoted.The increase in market share and the general release of incremental demand for construction are expected to increase at a compound annual growth rate of about 30% in three years; power generation automation: the main demand is transformed into the transformation of old plants in large-scale thermal power plants, with an expected growth rate of 5-10?out. Smart city business segment: Excellent independent R & D and overall solution capabilities have helped the company build core competitiveness.The business involves intelligent buildings, intelligent transportation, safe cities, enterprise interconnection and other fields.The company always focuses on independent research and development and makes full use of professional planning and design capabilities, comprehensive integration capabilities, customized research and development capabilities, and full-cycle delivery capabilities. 2019H1 revenue growth exceeds 52%; Most of the newly signed major contract orders are delivered at the end of 2019, and this year’s high growth is highly certain.With the in-depth development of anti-terrorism and maintaining stability in smart cities, it is estimated that the revenue growth rate in 2020-2021 will be 38% and 30%. The construction of ubiquitous electric power IoT will bring 天津夜网 major development opportunities to the company.The ubiquitous electric power Internet of Things has been fully launched. The actual bidding volume in 2019 is expected to reach 150 billion. From 2019-2021, the compound growth rates for the two periods of 2021-2025 will reach 50% and 15%, respectively.The overall investment of State Grid Power Information and Communication has increased significantly. The total investment in 2020 and 2025 will reach 46 billion and 100 billion respectively, which will significantly increase the demand for smart terminals and IT information products.Through the integration of electric power automation and information technology to build internal capacity, and external cooperation through the integration of government, scientific research units, associations and other multi-resources, to enhance the company’s influence in policy and standard formulation. Earnings forecast and investment advice: The company is expected to have EPS 2019-2021 of 0.36/0.45/0.56 yuan, the growth rate is 59%, 28%, 22%. The ubiquitous electric power Internet of Things investment will show a high degree of prosperity, which will significantly increase the demand for power grid automation and IT service products. Therefore, the company has been given a target price of 16 yuan, corresponding to 2020 EPS 35x. Risk reminder: bad debt risk of accounts receivable; ubiquitous progress of the electric power Internet of Things is less than expected risk; risk of technological research

Sanquan Food (002216): The impact of the incident on the dumpling business exceeded expectations

Sanquan Food (002216): The impact of the incident on the dumpling business exceeded expectations

Sanquan Food’s 2019H1 revenue is 30.

4.2 billion (-1.

15%), net profit is 0.

8.9 billion (+8.

01%) Sanquan Food announced the 2019 semi-annual report on August 21, and the company achieved operating income of 30 in 2019H1.

42 trillion, down 1 year.

15%, achieving a net profit attributable to the parent company of 0%.

89 ‰, an increase of 8 per year.

01%, the net profit of non-return to mother is 0.

74 ppm, a ten-year increase of 8.


19Q2 single-quarter income 11.

34 trillion, down 10 a year.

07%, achieving net profit attributable to the parent company of 0%.

49 trillion, down 9 a year.


The company’s performance is lower than our long-term expectations. We lower our profit forecast. Is it expected that 2019?
In 2021, the EPS of Sanquan Food is 0.

23 yuan, 0.

33 yuan and 0.

44 yuan, maintain “Buy” rating.

Food safety incident has brought unexpected impact on dumpling business. 都市夜网 According to the company ‘s announcement, on February 15, 2019, there were media reports that Sanquan’s dumpling dumplings were found in Hunan Xiangxi and Gansu Jiuquan.If the result is positive, the company will store all suspected products and strengthen the internal monitoring system of the company.

Sanquan Food’s 2019H1 dumplings business revenue was 7.

56 ppm, a decrease of 17 per year.

59%, we believe that the food safety incident is an important reason for the decrease in the revenue of the dumpling business, which caused the company’s overall performance to be lower than expected.

Products other than dumplings achieved revenue in 2019H122.

870,000 yuan, an increase of 6% in ten years.

Expense strategy: The trend from total priority to profit priority continues for Sanquan Food’s single-season sales expense subsidy in 2019Q222.

53%, down by 1 every year.

81pct, down 5 from the previous month.

97 points.

Management + R & D expenses 5.

39%, a slight increase of 0 a year.

12pct, up 2 from the previous month.

94 points.

We believe that cost pressure has always been an important factor in suppressing Sanquan Food’s net worth level. As a leading enterprise in the quick-frozen noodle rice market, Sanquan Foods has taken the lead in shifting its cost allocation strategy from higher priority to profit first, which has triggered a restructuring of the benign competition in the industry.

Channel strategy: The catering market still maintains a high growth rate. Sanquan Food’s catering market in 2019H1 achieved operating income3.

650,000 yuan, an increase of 42 in ten years.
45%; net profit achieved 0.
24 ppm, an increase of 130 in ten years.


The catering market is an important channel for Sanquan Food to change direction. The company continues to expand product research and development for catering customers and expand the production scale of related products.

We believe that the market concentration of the catering market is decreasing, the scale of leading companies is relatively contradictory, the competition is relatively flat, and the cost efficiency is relatively high. We are optimistic about the expansion of Sanquan ‘s brand and product power in the catering market.

Short-term event shocks will not change the long-term transformation logic. Maintaining the “Buy” rating. We are still optimistic about Sanquan’s medium- and long-term transformation logic, but the company’s performance in the short term will be under pressure due to food safety incidents.

We revise down Sanquan Food’s profit forecast.
Revenues will reach 58 in 2021.

4 billion (down 6%), 65.

9.9 billion (down 6%) and 74.

80ppm (down 6%); EPS will reach 0 respectively.

23 yuan (down 8%), 0.

33 yuan (down 8%) and 0.

44 yuan (down 7%).

Comparable companies are estimated to average 43 times PE in 2019, and we give Sanquan Food 51.


6 times PE (19%?
20% estimated premium) with a target price range of 11.


89 yuan, maintain “Buy” rating.

Risk Warning: The impact of food safety incidents on the company exceeded expectations; the increase in the cost of raw materials exceeded expectations; the degree of fierce market competition exceeded expectations.

Depth-Company-Luzhou Laojiao (000568): 1573 Sales Exceeded Expectation

Depth * Company * Luzhou Old Warehouse (000568): 1573 sales surpassed expected gross margin level hit a new high

State Laojiao announced 3 quarterly reports for 19 years.

The revenue for the first three quarters of 2019 was 114.

800 million, an increase of 23 previously.

9%, net profit of 3.8 billion, an annual increase of 38%, previous earnings2.

59 yuan.

Revenue and net profit for the third quarter of 19 were 34.

600 million and 10.

500 million, revenue increased by 21 in ten years.

9%, net profit increased by 35.


The company’s period-end advance payment 15.

9 billion.

Revenue and net profit are in line with market expectations.

  Key points of support level Revenue growth in the third quarter of 19 was 21.

9%, high-end wine speeds up.

(1) According to our channel survey, Guojiao 1573 sold well during the two quarters and maintained a healthy benign inventory. Distributors have generally completed the payment. Based on the judgment of changes in gross profit margin, 3Q19 premium wine may accelerate and is the main source of revenue growth.

(2) According to Weijiu News, as of October 28, the company’s official announcement that the country’s cellar 1573 single product in 2019 exceeded 10 billion (we judge it is sales caliber data).

We believe that this year, when Maotai is out of stock and Wuliangye has replaced its price, Guojiao has maintained a phased strategy, and has better responded to the rapid changes and the balance between volume and price. The growth rate of high-end wine revenue is expected to exceed 30%.

In the third quarter of 19, the company received advance payment at the end of the period15.

900 million, an increase of 200 million from 1H19, an increase of 1.

8 billion.

(3) As for the mid-range wine, in the third quarter, the tenth generation of time-honored special songs are ready to go on the market, and channel 杭州桑拿 control is underway. The storage age is still in the adjustment period. We judge that the growth rate of 3Q19 mid-range wine may occur, and 4Q19 is expected to accelerate again.

The gross profit margin rose sharply, and the decline in the business tax rate promoted the increase in net interest rate. Net profit in the third quarter of 19 increased by 35.


Short-term gross profit margin increased in the third quarter of 192.

8 points to 84.

2%, the overall level reached a record high, and the proportion of high-end product revenue increased significantly.

The business tax rate fell ten years ago.


The company strengthened the management of expense release, and the sales expense ratio ratio was downgraded to 0 in 3Q19.

6 points.

  It is estimated that based on the 3 quarterly report, we have raised our performance forecast. It is estimated that the EPS in 19-20 will be 3 respectively.

24, 3.

81 yuan (the original forecast was: 3.

12 yuan, 3.

67 yuan), a year-on-year increase of 36% and 17%.

The company’s brand value is outstanding. After the company’s current management team came to power in 15 years, it has laid a solid foundation for brand promotion, product structure optimization, and deep channel cultivation.

Maintain the “overweight” rating.  The main risks facing rating Moutai, Wuliangye prices squeezed the upward space of 1573, and channel inventory exceeded expectations.

Over 60% of pharmaceutical companies in Jiangsu resume work

Over 60% of pharmaceutical companies in Jiangsu resume work

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

  Original title: Jiangsu pharmaceutical companies resume work over 60% of key pharmaceutical companies during the Spring Festival. Open: February 17th, the Finance Association News.

According to statistics from the Jiangsu Provincial Ministry of Industry and Information Technology, as of February 16, the number of industrial enterprises above designated size in the province has resumed 29,230, with 65% of them returning.

  In terms of industry, the resumption rate of pharmaceutical, electronics, metallurgy, photovoltaic and other key industries in Jiangsu Province exceeds 60%.

According to a reporter from the Associated Press, the key pharmaceutical listed companies in the province have resumed work at the latest on February 10.

  Yuyue Medical as the key enterprise of this epidemic prevention (002223.

SZ), including all senior executives within the chairman, have been on duty since the Spring Festival, and the company ‘s key products related to the epidemic have never stopped work.

Kangyuan Pharmaceutical (600557) is responsible for the production of this anti-epidemic Chinese medicinal preparation in Wuhan.

(SH), started to work on January 30th.

And Borui Medicine (688166.

SH), Enhua Pharmaceutical (002262.

SZ) and other companies resumed work on or about February 9, but the front-line departments involved in the production of epidemic-related products also had no rest during the Spring Festival.

  The secondary market is also optimistic about the stocks of the pharmaceutical sector that continue to operate during the Spring Festival.

  The epidemic-resistant product line will not be stopped on January 24th. It is the day of Lunar New Year’s Eve and family reunion.

But for epidemic prevention companies, the outbreak in Wuhan is an order.

  Yu Jian, the secretary of Yuyue Medical, told the reporter of the Associated Press that starting from the confirmation of the Wuhan epidemic, Yuyue Medical established the epidemic prevention and control material combat command center as soon as possible and established S-level, A-level, B-level, and C-level according to the severity of the epidemicLevel four supply systems, and the establishment of major logistics epidemic areas to ensure the full support of the fleet.

Production and transportation commands of this scale must depend on the company as a whole. Therefore, from the chairman to the company’s grass-roots management and production front-line employees, there is no rest throughout the Spring Festival. 24 hours of overtime production of anti-epidemic products, there is no return to work.Say.

Among the current Yuyue products, there are nearly ten products related to epidemic prevention and control and treatment of new crown pneumonia, which are mainly divided into respiratory oxygen supply, temperature detection, disinfection and control. The products involved are oxygen generators and non-invasive breathing.Machine, oximeter, nebulizer, sputum suction device, forehead gun, ear thermometer, thermometer, Zhongyou Li Kang Jiefu quick-drying hand gel, iodine disinfection and other products.

At present, the production lines of the above products of the company have been added to the production state of two shifts or even three shifts, but quick-drying hand gel elimination, iodine disinfection are still replacing supply and demand.

  The situation is similar with Lianyungang Kangyuan Pharmaceutical.

In order to produce related products related to epidemic resistance, on January 30th, that is, the sixth day of the Lunar New Year, the first-line production has been fully resumed.

The relevant person in charge of the company told the reporter of the Finance and Accounting Association that on February 3, the Lianyungang Municipal Government received a letter of entrustment from Wuhan, and the Wuhan Wuchang District Epidemic Prevention and Control Headquarters commissioned Kangyuan Pharmaceutical to process and produce on behalf of China Academy of Chinese Medical SciencesChinese traditional medicine agreement on prevention and treatment of new coronavirus pneumonia developed by Academician Kobayashi.

In order to complete this commission, Kangyuan Pharmaceutical Co., Ltd. set up the production team of the New Coronavirus Pneumonia Chinese Medicine Agreement Party for the first time. In just 6 hours, it completed the technological research of the formulation of five varieties of formulations and locked the types of excipients of the formulations.Dosage and preparation process specifications linked to multiple production lines.

  Subsequently, more than 1,000 production staff, 24 hours shifts, full power, and made full efforts to make epidemic prevention and control drugs.

At 10 pm on February 7th, vehicles loaded with new coronavirus pneumonia prevention and treatment medicines departed from Kangyuan Pharmaceutical overnight and were directly sent to Wuhan for free to the epidemic area in Wuhan.

Subsequently, Kangyuan Pharmaceutical expedited the production of 5,000 granules of traditional Chinese medicine, which could be used by 20,000 people for 14 days.

Issued one after another from February 8 to 12.

  And all employees of Xuzhou Enhua Pharmaceutical’s epidemic prevention related product line, the Spring Festival enterprise is also sticking to the front line, Wu Jiye, the secretary of Enhua Pharmaceutical, told the Financial Union reporter that the company’s Li Yuexi (midazolam injection), For sedation of patients with tracheal intubation and mechanical ventilation), Jia Sulun (Doxapram hydrochloride injection, for patients with respiratory failure) and other drugs, have been fully produced during the spring night, other management and sales staff, alsoIt is necessary to resume work on February 9 in accordance with the regulations of Jiangsu Province. At present, the enterprise is operating well. Liyuexi, Jiasulun and other products have also been donated to the epidemic area in Wuhan.

  The relevant person in charge of Borui Pharmaceuticals told the reporter of the Associated Press that as soon as the epidemic emerged, the chairman Yuan Jiandong deployed R & D personnel to conduct research on new anti-epidemic drugs.

The company officially resumed work on the 2nd and the 10th. On the 12th, the company issued a related announcement that it successfully imitated the development of the drug drug of Radixivir, which has been sought after by the market.

  Concept stocks are sought after Pharmaceutical companies have made outstanding contributions to the fight against the epidemic, and after the A-share market resumes, the secondary market has clearly sought after the pharmaceutical sector.

From February 4 to February 6, the medical and health sector increased by 4.

16%, 6.

19% and 2.


  Yuyue Medical closed the daily limit on February 3, increasing by more than 22% for five consecutive trading days; Enhua Pharmaceutical increased by more than 10% from February 4 to 6, and Kangyuan Pharmaceutical on February 4 and 5,The increase was also over 10%.

  It is worth mentioning that on February 12th, Borui Pharmaceutical announced the successful development of the anti-epidemic drug Redecvir API. In the following 3 days, Borui Pharmaceutical gradually increased its daily limit, rising by 60% on the science and technology board, becomingThe most eye-catching recent medical concept stocks.
  However, in related announcements, Borui Pharmaceutical also announced the risks of this drug development, including the risk of poor clinical trial results; the epidemic was quickly controlled, and the number of patients continued to decrease; the uncertainty of drug market access, and product cost risks.
  And Yuyue Medical also said that the epidemic situation may have little effect on the company’s performance this year.

Chen Jian said that until now, the relative time of the epidemic situation has been shortened. The company really responded to the epidemic situation and accelerated production. At present, it has only nearly 20 days. It is difficult to perform quantitative analysis on performance, but only in the current situation,Medical sales revenue should increase in the first half of the year, but it is still difficult to determine quantitative data.

However, in 2020, Yuyue Medical will adhere to its long-term strategy, supporting each other online and offline in and out of the hospital, and strive to meet the needs of market supply.

  Industry chain linkage needs to be estimated. In this year’s epidemic, pharmaceutical listed companies are increasingly replaced. At present, the industry chain linkage of pharmaceutical companies is inevitable.

  The main products of Enhua Pharmaceutical are related to primary chemical products such as hydrochloric acid. However, in the early stage of the epidemic, due to various reasons, the problem of insufficient raw material supply affected the production efficiency of the enterprise, but fortunately the problem was quickly resolved., Did not have much impact on the production of Enhua Pharmaceutical.

  And Yu Jian, the secretary of Yuyue Medical, told the reporter that the current demand for the downstream industry chain in the pharmaceutical product industry is also increasing.

When the epidemic arrives and the front line needs a large supply of products, the demand of pharmaceutical companies for the downstream industry chain will become more apparent.

  Chen Jian used the company’s important product as an alternative to quick-drying hand degreasing. Until the end, the product has been on the Yuyue medical production line for 24 hours without stopping production. However, the front line of anti-epidemic disease is still available for substitution, but due to the plastic bottle of the productPackaging production enterprises, first of all due to the problem of resumption of work, and secondly, their own output problems, it is currently difficult to meet the demand of Yuyue Medical, which has affected the production efficiency of this product.

  Chen Jian told the Associated Press that this time Yuyue Medical is the key anti-epidemic unit of the Development and Reform Commission of the Ministry of Industry and Information Technology. In fact, the supply chain is provided with special protection by various national departments. In this case, downstream industry chain linkages still occur.The difficulty of this is a wake-up call for the future development of listed companies.

If we want to fully integrate the upstream and downstream industry chains, and gain scale space for the future development of the company, listed companies must make a good layout in the future.

Goodix Technology (603160): Under-Panel Optics Maintains Strong Growth, VAS Business Opens Acoustic Space

Goodix Technology (603160): Under-Panel Optics Maintains Strong Growth, VAS Business Opens Acoustic Space

1H19 performance exceeded our expectations. In 1H19, Genting Technology achieved revenue of $ 2.9 billion, a year-on-year increase of 108%; gross profit margin reached 62%, an increase of 22 percentage points; net profit reached $ 1 billion, an increase of more than 806%, exceeding our expected 715%?
The upper limit of 750% annual growth is mainly due to the business progress of the optical fingerprint recognition chip under the screen exceeded expectations.

We are optimistic about 1) the further improvement of the optical permeability under the screen, and the introduction of two new product replacement types in the second half of the company; 2) the company’s single single product and customer restrictions, and gradually grow into a platform-based IC design company.

Development Trend Biometric Product Line: Continuously optimistic about the penetration of optical fingerprints under the screen and the company’s leading position.

The substantial increase in the company’s 1H19 revenue and net profit was mainly due to the growth of optical fingerprint recognition chips under the screen.

We maintain our expectations for the highest budget and the overall market size is 1.

About 700 million pieces, the company can occupy 80% of the market share.

We believe that the company’s layout of under-screen optics is very leading, and currently there are no competing opponents in the market.

At the same time, the company disclosed at the performance meeting that two new products will be launched in the second half of the year, an ultra-thin screen solution and an LCD screen solution. We recommend that investors continue to pay attention to the pricing of new products and customer entry.

Human-Computer Interaction Product Line: Acquired NXP VAS and cut into acoustics.

The company already has a touch product line, ranking among the top three in the industry.

The company issued an announcement on August 17 stating that it plans to start with 1.

Acquired NXP’s voice and audio application solutions business for $ 6.5 billion.

The company believes that voice interaction is the most natural way of interacting, and the target is the world’s leading audio solution provider, with excellent R & D teams in Europe and Asia.

In the future, the company will use the target’s more than 200 core patents, which can not only stabilize its top in the Android smartphone, but also open up the market space for voice interaction in 杭州夜网论坛 the Internet of Things.

Internet of Things product line: Create a “Sensor + MCU + Security + Connectivity” integrated platform.

The company has been occupying the Internet of Things field for 3 years on a large scale, and currently has products such as heart rate sensors, in-ear detection, NB-IoT, etc.

The company believes that the characteristics of the Internet of Things market are slower product growth and complex types. It is necessary to have sufficient patience to gradually mature and develop the product.

The company is the year with the most new product launches in 2019.It is necessary to establish an ecosystem and it is too early to achieve financial goals.

Earnings Forecasts and Estimates We maintain our revenue forecasts for 2019/20 unchanged, but increase gross margins by 5/8 indicators respectively, resulting in a 12% / 17% increase in net profit.

Maintain Outperform rating.

It currently corresponds to 202038.

We double our price-earnings ratio by 9% to 240.

00 yuan, corresponding to 47 times the price-earnings ratio in 2020, corresponding to 22% growth space.

The expansion of risk smartphones has expanded significantly; the layout of the Internet of Things business has fallen short of expectations.

CPIC (601601): GDR Released, Board of Directors Approves Internationalization

CPIC (601601): GDR Released, Board of Directors Approves Internationalization

Event: The board of directors of the company passed the GDR issuance plan, the GDR was listed on the London Stock Exchange, and it was issued to qualified international investors. The supplementary basic securities (A shares) represented by it did not exceed 10% of the A shares before the issue.

The conversion rate is to be determined and the conversion limitation period is within 120 days from the date of listing.

The purpose of the raised funds is to promote internationalization and supplementary capital.

  Opinion: In 19 years, Taibao entered the transformation deepwater zone. After the agent’s bonus disappeared, the company encountered transformation pains.

The changes in the start marketing strategy further exacerbated the short-term benefits of the company’s transformation.

Although the quarterly data has improved from the first quarter after the company’s active adjustment in the second quarter, the interim report performance is still 四川耍耍网 below expectations.

Recently, the CBRC has successively introduced the “Bank Insurance New Deal” to promote the return of bancassurance channel sales and the “Annuity Insurance New Deal” to adjust the interest rate assessment of life insurance liability reserves. The difficulty of annuity insurance sales will further increase in the future.

Although faced with long-term challenges, the company’s investment income in the first half of the year has increased, becoming the biggest highlight of the interim report.

  The GDR issuance was put on the company’s agenda under the background of the debt side under pressure and the investment side ushered in a “policy red envelope”.

The insurance industry is still in a period of important opportunities for innovation and development. In addition to the general direction of the industry’s transition to long-term protection products, the rise of emerging insurance formats such as Internet insurance has also brought new business growth points to the industry.

One of the two major uses of the GDR funds raised by the company is to supplement capital. At present, the company is still intensifying its financial technology planning and using technology to empower agents, products and services. At the same time, the company’s elderly community construction still requires follow-up fundsInvestment, so the improvement of property insurance claims efficiency and customer experience also requires the company to continue to spend.

On the investment side, companies are also facing pressure to re-allocate assets in a low interest rate environment. It is the focus of the investment side to seize changes in the allocation of high dividend and high yield long-term products.

In the short-to-medium term, the average demand for bond investment is supplemented, and the necessity of issuing GDR funds is clear.

  At the same time, the issuance of GDR can increase the company’s global influence and promote the company’s layout.

In the future, the company’s investment-side restructuring and configuration and cross-border mergers and acquisitions business expansion paths are all predictable and belong to the company’s long-term strategic considerations.

  Investment suggestion: Realize the effect of improving the quality and efficiency of agents. The company’s life insurance premium structure is gradually and continuously optimized. The increase in the proportion of non-vehicles is also expected to drive the comprehensive cost ratio of property insurance into a downward channel.High probability event.

We continue to be optimistic about the company’s operating prospects. It is expected that the company’s net profit attributable to mothers in 2019-2021 will be 235.

600 million, 276.

400 million and 333.

800 million, corresponding to 2 EPS.

60 yuan, 3.

05 yuan and 3.

68 yuan, maintaining the “recommended” level.

The current company estimates only 0.

82x19PEV still has medium and long-term investment value.

  Risk reminders: Downside risks to the domestic economy; risks of intensified trade disputes between the United States and China; risks of declining capital market conditions; risks of stricter financial supervision than expected; risks of weaker than expected liquidity; and lower-than-expected risks of premium income.

10 Tips To Avoid Yoga Injury

10 Tips To Avoid Yoga Injury

Continued contractions, sports injuries in yoga not only cause tendon injuries, but in the future the ligaments will be strained or loosened, causing joint fractures.

  How to avoid harm?

  1. For those with blood coagulation diseases, avoid practicing yoga.

Yoga movements need to be placed, and the limbs are tilted and twisted. In the process, peripheral blood flow may be reduced, and blood coagulation is more likely to cause cardiovascular and cardiovascular diseases.

  2. For osteoporosis, exercise caution.

Some yoga movements must support the body’s weight with limbs such as hands or feet. If there is osteoporosis, it is likely that the strength of the core muscles is not well trained, and the elbow is accidentally fractured.

  3, spondylolisthesis, disc herniation, to avoid excessive bending of the waist.

Among the most basic movements of yoga, the “sun worship” is one of them. The practitioner must bend the waist downward. At this time, those with spondylolisthesis may cause the spine to slip again due to such movements; or there is an intervertebral disc.Prominent people may also cause lower limb nerve compression due to inadvertent bending.

  4. Poor physical condition, early recovery from serious illness, yoga should not be practiced at the early stage of fracture.

Yoga needs to be in good physical condition to achieve physical function and muscle group effect. If the physical condition is not good, muscles, joints, ligaments can not exert their strength, it is easy to be injured when practicing yoga.

  5, do not do yoga within an hour before and after meals.

Yoga movements require bending and twisting of the body, so do not do yoga within an hour before and after meals. It is best to reduce the amount of food before doing yoga to avoid increasing the burden on the stomach.

  6, mood swings should not practice yoga.

Yoga is a sport that must be coordinated with the body and mind. If you are angry, worried, or nervous, and your muscles are tight, it is best not to practice yoga to avoid injury. Only when you practice yoga with soft muscles can you be more healthy and safe.

  7, after a few classes, feel joint and tendon soreness may not be suitable for practicing yoga.

Some people are born with poor body softness, while yoga trains the body’s softness and extension of muscle strength. If after each yoga session, joint pain or tendon inflammation occurs, the body may not be soft enough.Not suitable for yoga moves.

  8. Pregnant women should exercise caution when practicing yoga.

Although there is a so-called pregnant yoga for pregnant women, this refers to people who have been practicing yoga for a long time. If they have never practiced yoga in general, it is recommended that doctors evaluate the condition during pregnancy after 12 weeks of pregnancy.

  9, intraocular pressure is too high, high myopia, it is not recommended to do headstand motions.

Leaning forward or upside down can increase intraocular pressure, so people with high intraocular pressure and high myopia are not recommended to practice yoga.

  10. Epilepsy, damaged cerebral cortex.

Many movements of yoga can involve fractures to correct, and if there is a person with epilepsy or damaged cerebral cortex, the deformation deformed by forward and backward massage can cause seizures.

  If you want to avoid sports injuries, keep in mind that if you have any problems, stop at any time. Ask the teacher if one of the moves is difficult to reach the standard posture.Yoga is a deep inner feeling of an individual, and each person’s understanding is different.

Ten tips to help you jump the door in the workplace

Ten tips to help you jump the door in the workplace

How can you achieve your dreams and excel in the rosy years?
专家为你献上十大招数,助你职场节节攀升……   第一招:兵来将挡,水来土掩  永远要有这样的心理准备:如果上司突然交给你一个任务,并要你在短时间内To complete, you must have the patience and determination to cover up the barriers, water, and soil, and you must not show the overwhelming panic.
When company bosses promote talents, hard-working employees are most favored.
As for the soft eggs that always complain and kick the ball, they don’t even look at them.
  Second trick: Always put your boss first. Don’t forget that the boss’s time is more valuable than yours.
When he sends you a new task, it is best to immediately put down the errand at hand and give priority to his instructions.
For example, when you are talking to someone on the phone and your boss is just looking for you, you should terminate the call immediately.
If the person you are calling is an important customer of the company, you may wish to inform the boss with a note or lip shape.
In short, respect for the existence of the boss is an extremely important part of the relationship between the subordinate and the boss.
  The third trick: The career of the above manager is already in the workplace (especially in private and joint venture companies). Whether your supervisor can succeed or not, your supervisor and boss are often important determinants.
You must know that the boss’s affairs are yours. Your supervisor and boss are developing smoothly, and you are also developing smoothly; if they fail, your future is equally bleak.
So to help your boss is to help yourself.
  The fourth trick: Participate in decision-making, do you want to stand out?
Fix your indecision first.
When you have the opportunity to participate in the company’s decision-making, you must remember: Be decisive, resolute and determined.
Indecision and mother-in-law are fatal to decision-making.
Looking at the world’s successful celebrities, which is not a resolute and decisive role.
  Fifth trick: maintain a generous and decent manner. In this era of natural selection, if you want to do something, you must master a basic principle and look at the occasion to wear clothes.
In addition, proper dressing, grooming and neatness and good sanitary habits are also important. For example, simple and stylish hair, timely nail trimming, and avoiding heavy makeup, are all principles that cannot be ignored.
  Sixth trick: When facing a problem, stay calm and panic is the most taboo performance in the workplace. Remember that people who are calm and calm are not the ultimate winners in the workplace.
Boss appreciates the role of danger, because only this kind of staff is able to ride the wind and break the waves, to take the lead.
If you have the confidence that you won’t be afraid of falling down, then you must be able to stand out.
  Seventh trick: insight into the opportunities, plan ahead Do not think that all plans can be smoothly and smoothly, think of the backup plan in advance is an accidental rescue.
For example, your boss is preparing to go on a business trip, and you must imagine for him what may be missed and possible emergencies. You are not afraid of 10,000, just in case this is the truth.
In this way, he will not only thank you sincerely, but also leave a deep impression on your ability to plan ahead.
  The eighth trick: smiling and welcoming people is the only way. No one likes to be with a guy who is frowning all day, the reason is simple, because this kind of people usually only bring sadness to others, and that is the last thing everyone wants.
If you want to get the basic affection of your colleagues, it’s the best way to keep your smiling face open.
As the saying goes: reach out and not smile at people.
Smiling and welcoming people makes the atmosphere of working together more joyful and more effective for work.
  Ninth trick: Don’t be afraid of losses, and good at communication. In the dictionary of future leaders, there is no such phrase as “I’m sorry, I’m not free”, it is a taboo in affiliation.
If you want to gain, you have to pay.
If your boss asks you to take charge of extra work, you should be happy and proud, because it shows that he values you, trusts you, and it is most likely that he is consciously testing your ability to bear pressure and bear heavy responsibility.
  There are only two ways for employees who are unwilling to take up more responsibilities. They will never walk in the same place or step on their feet.
However, for those who do not refuse additional work, we must first weigh the boundary between extra and duty. If you feel that you can’t afford it, and that excessive work has obviously caused your physical or psychological discomfort, and you are inconvenientAvoid the tasks delivered by the above word, try to communicate with your boss, and properly resolve the priority of the work.
  Tenth trick: Make mistakes and be brave. What if you make serious mistakes at work?
Instead of avoiding responsibility, try to calm down, assess the seriousness of the situation, and research feasible remedies, and then respond to your superiors as appropriate. Never tell your boss when the situation is not clear, but do n’t know how to solve it.Pretending nothing happened, trying to cover up the fault.
Have your own opinions, and develop a calmness that is not chaotic. This is the characteristic that the superior appreciates.