2456_007之Goldfinger 金手指等390个文件_

and took it round in front and returned it. Here Mr. Fellowes showed tokens of fear, and he 鏉窞澶滅敓娲昏鍧?hallowed out, 鈥淟acquey, why don鈥檛 you take a stick and beat them off, don鈥檛 you see they are robbing me?鈥?”No sir, that handkerchief he thought was something that you had overlooked sticking to your clothes, and he brought it to your notice,” said the lacquey. 鈥淭hen tell them I am broke and drive them off.鈥?鈥淵es, sir, if I can.鈥?Here he went to work in earnest, explaining that the Count had run out of money but he had a plenty in the Bank, and they could get no more to-day. Then they went away about a rod and seemed buried in reflection. They started to come again, but the Col. backed, while the lacquey appealed to their reason by informing them that were it the king himself, he could not carry all his money with him. Mr. Fellowes shook himself and tried to put on a pleasing countenance, but we could not for our lives maintain our gravity at his lesson of familiarity while 鏉窞娌瑰帇鎸夋懇浼氭墍浣撻獙 learning Dutch.

We walked up the beach, and conversed on the subject of the North Sea and Sir John Franklin, when all of a sudden Mr. Fellowes called to the coachman to drive up. I looked around and saw the beggars coming. We lost no time in retreating. While passing through the gates of the city, I noticed a bronze lion placed in the position of a guardian over it. I said, what an awful condition Daniel must have been in when in the lion鈥檚 den. 鈥淣o worse,鈥?said the Col. 鈥渢han I was in with the Dutch!鈥?Here a boy opened a door on the Col.鈥檚 side, that he might descend. As the Col. stepped out, he alighted on the Dutchman鈥檚 wooden shoe, and tripped himself up. As he picked himself up and moved towards the hotel door, he exclaimed in an under tone, d鈥斺€攏 the Dutch.

It must not be supposed that Mr. Fellowes meant any harm to the Dutch, but, they were not in his opinion, as agreeable as they might be. He left next day, although he 鏉窞姘寸(浼氭墍 intended staying a week 鈥渓earning Dutch.鈥?
Without noting Rotterdam, Holland鈥檚 lowest town, and Antwerp, an old Flemish town, I am at the carpet city of Belgium, Brussels, on my way to Waterloo. I have a little old lacquey I just hired and he is as cute as a mink. 鈥淎ll ready, sir,鈥?said he, 鏉窞妗戞嬁鎸夋懇濂崇収鐗?鈥渟hall I drive you to the Palace or the Museum?鈥?鈥淣o sir, on to Waterloo!鈥?Here the hackman remonstrated鈥攈e was not engaged for twelve miles and only engaged inside the city walls, and would not go to Waterloo this cold wet day for less than twenty francs. 鈥淕o on, sir,鈥?said I, and he traversed the whole of the Brussels Boulevard before he passed the gates. Here we are at the battle-field where Wellington rose and Napoleon fell. Wellington conquered the master of the world. Byron says, in his Ode on Napoleon,鈥?
鈥溾€橳is done! but yesterday a king,
And armed with kings to strive;
And now thou art a nameless thing鈥?
So abject,


yet alive鈥?

He continues:鈥?
鈥淚s this the man with thousand thrones
Who strewed our earth with hostile bones,
And 鏉窞妗戞嬁瓒虫荡 can he yet survive?
Since he miscalled the morning star,

Gymnastics World Championships to be unveiled tomorrow

Gymnastics World Championships to be unveiled tomorrow
The women’s team conducts platform training on the 1st.Figure / Chinese gymnastic team leader Ye Zhennan’s Weibo 2019 World Championships in Gymnastics will be unveiled tomorrow in Stuttgart, Germany. The Chinese women’s team is expected to appear in the qualifying in the early hours of Beijing time on the 5th.Today, the women’s team continued to practice twice a day to strengthen the details of the problems arising from the training on the platform.The Chinese women’s team conducted platform training on the 1st Beijing time.The content of preparations for the training hall today is aimed at strengthening the mistakes and flaws in the training of the platform from the details.Last year ‘s World Championships, the Chinese gymnastics team had already won the Olympic qualifications for men ‘s and women ‘s teams. Therefore, the main goal of the women ‘s team this year is to train the team.Newcomers to the world competitions Li Shijia, Tang Qianjing and Qi Qi.In the view of head coach Qiao Liang, the women’s team will face both challenges and possibilities this year’s World Championships.”This is a big challenge for a team that brings the old to the new.”But we step by step and move forward to solve the problem a little more before the game.”The World Championship Qualification is a 543 format, that is, 5 official members, 4 people in each individual event, 3 people are counted as valid results, and eventually a final list of groups, individual all-arounds and individual events is generated. The Chinese women ‘s team is placed in Group 6.Play.

Old Iron duel, Jeremy Lin won the data but unable to save Shougang

“Old Iron” duel, Jeremy Lin won the data but unable to save Shougang
The CBA Beijing-Liaoning war started in Shenyang tonight, and the confrontation between Jeremy Lin and his friend Guo Ailun is the biggest attraction.After the game, Guo Ailun and Jeremy Lin had a great conversation.Figure / Osports Jeremy Lin and Guo Ailun started this pair of friends, Shougang core opened the game into two attacks, helping the team lead 4-0.In the first quarter, he played fast for 4 minutes. Guo Ailun made a 3-pointer from the corner to overtake the score.Immediately afterwards, he directly confronted his friend when he took the defense and fouled him down.Jeremy Lin came off in the second half, Guo Ailun added another 5 points and scored 10 points in a single quarter to help the Liaoning team lead 28-20.Jeremy Lin broke the team’s 3-minute “famine” through free throws in the second quarter. He scored 8 points in a single quarter, accounting for nearly half of the team’s two.Guo Ailun only scored 2 points in this quarter through free throws. In the last minute, he faced Jeremy Lin’s single defense and retreated three points.However, the Liaoning Ning team’s attack was smoother in this quarter. The overall shooting rate of the Shougang team was only 30%, and it trailed 37 to 48 at the end of the half.In the second half, Guo Ailun failed to catch up with Jeremy Lin’s breakthrough scene, and then fouled his friend.In the countdown period of Section 3, Jeremy Lin scored 5 points on two buzzer shots, and his personal breakthrough reached 27 points, helping the Shougang team to reduce the point difference to 7 points.The silent pair of Guo Ailun started the counterattack layup to stop the Shougang team. Jeremy Lin returned 2 points, but the overall attack of the Shougang team was stagnant, and the insider had no way to deal with Han Dejun.After Jeremy Lin got off the field, the Liaoning team once widened the point difference to 21 points, winning the victory as expected.After the final whistle, Guo Ailun walked to the Shougang team seat, hugged with Jeremy Lin and chatted.The former contributed the team’s second-highest 21 points tonight, and had 5 assists, leading the team to win the game with a double-double performance of five.Jeremy Lin scored a new season high of 29 points, plus 6 rebounds and 5 assists, but the team as a whole was suppressed almost at the end of the game, Jeremy Lin finally witnessed the loss on the bench, causing powerlessness.

[How to make soft rice for one year old baby]_Children_How to make

[How to make soft rice for one year old baby]_Children_How to make

Although it is said that the baby’s stomach can not eat too hard food, but you can add food suitable for the baby by supplementary food little by little, so that the baby can absorb more nutrients and exercise the baby’s chewing ability.

One year old baby can eat some soft rice. How to make soft rice for one year old?

Let me introduce the food suitable for your baby.

First, can a baby eat rice at the age of one? Generally, he can eat rice after he is one year old.

But eating rice also has a process, from thin to thick, from thick to soft, from soft to hard.

2. Recommended recipes for babies: (1) Steamed tofu with fresh milk and zinc (supplemented with zinc) Ingredients: 1 catfish or Wuchang fish fillet, 1 piece of fresh tofu, half a cup of fresh milk, 2 fresh egg whites, ham meat(Sliced into shreds), stir-fried vegetables up to 1 teaspoon starch, a little salt and pepper.

Method: Wash the fish, drain the water, and then scrape the fish off with a spoon (be careful not to have fishbone in the meat); then wash the tofu, put it in a bowl with the fish, and mix with the prepared seasoningAfter mixing, add egg white and fresh milk and mix well; then put it in a deeper plate and steam over medium-low heat for 8 minutes; add shredded ham and fried vegetables and steam for 1 minute.

(2) Sweet apricot rock sugar water (suitable for babies over 1 year old) Ingredients: 3-5 sweet and fresh apricots, 1 tsp of rock sugar.

Production: First wash the fresh apricots repeatedly with water, then remove the kernels, use fresh water to boil the fresh apricots, add some rock sugar to serve.

Nutrition secrets: Sweet apricot rock sugar water for the baby together in the summer, has the effect of rejuvenating and quenching thirst, preventing heatstroke and relieve heatstroke, and can also prevent summer disease.

But it should not be consumed too much at one time.

Nutrition Tips: Tomato oxides are rich in vitamins, which can help relieve sore tongue in summer, thirst and loss of appetite after fever, which is a good summer health product.

(3) Chicken pumpkin puree (over 1 year old) Ingredients: 1 tablespoon of minced pumpkin, 50 grams of small chicken, sea rice, shrimp skin.Add sea rice or shrimp skin and cook until the soup is thick.

Tip: This recipe may help to absorb rich vitamin A and other nutrients, which is very helpful for baby’s growth and development and improve immunity.

(4) Raw materials of onion and shrimp puree (over 1 year old): 30 grams of shrimp, 1 egg white, 20 grams of onion, and appropriate amount of sand tea sauce.

Method: Shrimp are removed from the intestine mud, washed, drained and minced, add egg white and mix thoroughly, wash the onion and cut into diced, mince and mix into the shrimp mud.

Steam the mixed onion shrimp puree for 5 minutes, remove it and mix well with sand tea sauce.

Tip: Onion toxin zinc, allicin, sulfur compounds and other antioxidants can enhance the baby’s immunity and promote gastrointestinal motility.

Shrimp is rich in protein, aunt and DHA, it is an excellent brain food for babies.

(5) Egg skin sushi (over 1 year old) Ingredients: 1 egg, 1/4 carrot, half onion, half bowl of rice, half tomato, seasoning with salt.

Method: First adjust one egg skin and chop all the vegetables. Add the fried carrots and onions in a wok, add the soft rice and tomato, season with salt and season the egg skins.Above, cut into small pieces after rolling.

[Is the leek flower aphrodisiac?】 _Zhuyang_function

銆 愰 煭 Chi 滆 姳 澹  槼 撼 楋 纆 銆 慱 锷 ╅ 槼 _ 諊 灭 敤
鎵€璋撶殑闊彍鑺憋紝涔熷氨鏄汉浠父璇寸殑鑿婅姳锛岃繖鏄煭鑿滆繖绉嶆鐗╀笂闈㈠紑鍑烘潵鐨勮姳锛岄煭鑿滆姳鏄彲浠ョ洿鎺ュ悆鐨勶紝鑰屼笖鍚冮煭鑿滆姳鏈夊緢澶氬ソ澶勶紝姣斿鍏锋湁鐢熸触寮€鑳冪殑It ‘s hard to find a depraved version of the world ‘s most popular version. It ‘s very hard to see if it ‘s too late. It ‘s not so easy to see if it ‘s a good thing. It ‘s so hard to get around.屽 傆 廆 免 呺 岲 嵲 浠 ヨ 鉏 呴 懋 Relief fan Feng Qiang 呅 撗 鍗 滌 绌 绛 夌 瓑 瓅 咅 嶔 堢 drive the coercion 浜 ュ.闃冲憿锛熼煭鑿滆姳澹槼鍚楋紵闊彍铏界劧鏈夆€滃.闃宠崏鈥濈殑缇庣О銆備絾浼犺█涓窡鐢熸畺鍔熻兘鏈夊叧鐨勮惀鍏荤礌鈥斺€旈攲銆佺淮鐢熺礌C鐨勫惈閲忓Do you have a rugged look? Do you have a good time? Do you have a good time? Do you have a good time? Do you have a good time? Do you have a good time?00 鍏 嬮 煭 Chishen 酖 钖  湁 阌?.43姣厠锛屼粎涓虹敓铓濈殑1/166锛屾澗瀛愮殑1/21銆傝€岀淮鐢熺礌C鐨勫惈閲忎负24姣厠/100鍏嬶紝绔I can’t help you to get a good idea. I can’t stop you from doing it. You can’t do it. You can’t do it. You can’t do it. You can’t do it. You can’t do it.涔嬪锛屽敮涓€鏈夌壒鑹茬殑鎴愬垎鏄叿鏈夎緵杈e懗鐨勫悇绉嶅惈纭寲鍚堢墿锛屼絾骞舵病鏈夌爺绌惰瘉鎹〃鏄庡畠浠拰澧炲己鎬ц兘鍔涙湁鍏炽€傛墍浠ワ紝璇撮煭鑿滆兘澹槼鎭愭€曞彧鏄竴绉嶇編濂芥効鏈涜€屽凡銆傛棦鐒堕煭鑿滀笉鑳藉.闃筹紝閭e悆闊彍杩樻湁浠€涔堢敤锛熼煭鑿滀腑鍚湁姣旇緝涓板瘜鐨勮喅椋熺氦缁达紝涓?.4 guns?100鍏嬨€傝喅椋熺氦缁村湪鑲犻亾涓兘鍚告敹姘村垎锛屼績杩涚勃渚胯啫鑳€銆佸鍔犵勃渚跨殑閲嶉噺锛涙湁雴 雄 雲 雑 揶 揶 旤 ょ Huai 杩 樿 兘 鈦 另 浜 浜 間 間 雲 雄雄 黄 獄 雰 雰 書 書 2 永 雸 雳 2锛夛紝杩涗竴姝ヤ績杩涚敓鐞嗚爼鍔ㄣ€傚洜姝わ紝閫傞噺鍚冧竴浜涢煭鑿滃浜庨闃插拰缂撹В渚跨鏈変竴瀹氱殑濂藉銆傚綋鐒讹紝骞朵笉鏄渚跨浜嗗氨闈炲緱鍚冮煭鑿滐紝鍥犱负鍏跺畠钄彍锛屽鑺硅彍銆佽眴鑺姐€佽儭钀濆崪銆佺櫧鑿溿€佽姦绗嬬瓑锛屼篃鍚屾牱鍚湁姣旇緝涓板瘜鐨勮喅椋熺氦缁淬€傚彟澶栵紝缁挎补娌圭殑闊彍涓紝杩樺惈鏈夎緝涓板瘜鐨勫彾缁跨礌鍜岃儭钀濆崪绱狅紝浠ュ強閽俱€侀挋绛夊绉嶈惀鍏荤礌锛岃繖浜涘鍋ュ悍閮芥湁涓€瀹氱殑濂藉銆備絾涓嶇鎬庝箞鏍凤紝鎶婂畠褰撴垚涓€绉嶆櫘閫氳敩鑿滄潵鍚冨氨濂戒簡銆傜敺浜烘洿閫傚悎鍚冮煭鑿滐紝濂充汉鐩稿涓嶉€傚疁鍚冮煭鑿滃悧锛熻棔鑳芥粙闃达紝闊彲璧烽槼銆傝繖鍙ヨ瘽鏄牴鎹敺濂崇殑鐢熺悊鐗圭偣缁欏嚭鐨勬€荤粨锛佸洜鐢峰鍗婅偩闃宠櫄寮憋紝濂充汉鍛㈠鍗婇槾琛€铏氥€備箣鎵€浠ヨ鐢蜂汉澶氬悆闊彍鍙互澹槼锛屽コ浜哄鍚冭幉钘曞彲浠ュ琛€銆?

[Can passion fruit be eaten by children]_ children _ taboo

[Can passion fruit be eaten by children]_ children _ taboo

In modern life, people can eat more and more things, because economic development and the ease of traffic conditions, various fruits and other materials can be freely moved between each other, so that people can easily eat something that can only be heard before,For example, passion fruit is a peculiar fruit with a sweet and sour taste and rich nutrition. Can passionate children eat it?

Let ‘s take a look at the explanation below.

Of course, but it is more suitable to eat passion fruit when your baby is six months old.

Because your baby is too young, passion fruit may hurt your baby’s stomach.

Passion fruit contains 17 kinds of amino acids, rich in protein, trace amounts, sugar, vitamins, calcium, phosphorus, iron, potassium, SOD enzymes and super fibers, and other 165 kinds of substances that are beneficial to the human body.

Passion fruit is naturally pure, rich and luscious, sweet and sour, healthy and quenching thirst, and has many functions, such as refreshing the brain, moisturizing the bowels and laxatives, preventing colorectal cancer, detoxifying and nourishing wine, protecting the liver, eliminating fatigue and reducing hypertension.Regulating blood sugar can help prevent diabetes, improve human immunity, and prevent diseases.

Basically, your baby needs a lot of vitamins and amino acids for growth and development, and passion fruit is just rich in many vitamins and amino acids.

Passionfruit is more suitable for babies from the age of six months to six months.

However, it is not appropriate for a baby to eat too much passion fruit when he is six months old. If he eats a small amount, it can be repeated to increase the baby’s age to increase the consumption of passion fruit.

It is not suitable for a baby to eat too much passion fruit at one time, because passion fruit is not suitable for digestion, and it is relatively sour, which will have an adverse effect on the baby’s stomach. It is enough to eat about one to two a day.

Regarding the preservation of passion fruit, passion fruit should not be stored in a sealed container, it can be kept fresh in the refrigerator, and should not be frozen.

Finally, parents should pay attention that if the baby is allergic to passion fruit, they cannot eat it.

And children with weak gastrointestinal function are not suitable to eat more passion fruit.

Rongsheng Development (002146) Quarterly Report Review: First Quarterly Results Meet Expectations Leverage Continues to Decline

Rongsheng Development (002146) Quarterly Report Review: First Quarterly Results Meet Expectations Leverage Continues to Decline
The company announced the first quarter report of 2019, achieving operating income of 66.6 ‰, a decrease of 4 per year.7%; net profit attributable to mother 7.80,000 yuan, an increase of 30 in ten years.2%. Core point of view Revenue decreased slightly and performance increased rapidly.The gross profit margin was 33.8%, a decrease of 0 compared with the same period last year.8 units.The company’s first-quarter performance growth rapidly outpaced revenue growth for two initial periods. The first was the disposal of financial assets for restructuring and sales during the reporting period, which resulted in a 961% increase in investment income.100 million US dollars, the 成都桑拿网 second is that minority shareholders’ profit and loss decreased compared with the same period last year, this year is 1.7 trillion, -0 last year.700 million. Sales continue to grow and land acquisition needs to be accelerated.The company achieved sales of 166 in the first quarter.9 ‰, an increase of 14% in ten years; the company’s total caliber of land acquisition in the first quarter was 23.6 million US dollars, land investment intensity is 14%, by 3 percentage points before 2018.As of the end of 2018, the company’s land reserve totaled 36.14 million square meters, which could meet the development needs in the next three years or so. Leverage fell, opening up overseas financing channels.At the end of the first quarter, the company’s net impurities decreased by 86%, an average of 52 decreases from the same period last year, and a decrease of 2 ratios from the end of last year.The company successfully issued 3 for the first time yesterday.The 2.5 billion US dollar bond with a coupon rate of 8% has widened financing channels. Financial Forecast and Investment Suggestions We forecast the company EPS to be 2 in 2019-2021.24/2.81/3.RMB 61, comparable company’s 2019 PE is estimated to be 7 times. Maintain BUY rating, corresponding to a target price of 15.68 yuan. Risk reminder The scale of real estate sales, settlement and repayment is less than expected. The city’s budget policy was more aggressive than expected. Land 杭州桑拿 acquisition was less than expected.

Guotai Junan: New Rules for Refinancing Landed in Securities Industry

Guotai Junan: New Rules for Refinancing Landed in Securities Industry

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

  Original title: After the epidemic, how will the loose era be interpreted?

Monarch Zhouzhi Source: Guotai Junan Securities Research Week Key words The era of easing is coming. War epidemic is both in the ward and the economy.

  In early February, various government departments took turns expressing their response to the new crown. The Standing Committee of the Political Bureau of the Central Committee on February 3 and February 12 explicitly requested that the 2020 economic and social development goals and tasks be adhered to, and the tasks set by the Party Central Committee.They must be completed, gradually return to work, investment, consumption and many other aspects have been outstanding.

  Going forward, Guotai Junan’s macro team answered many questions about currency, finance, reform and other issues recently discussed in the market.

  In terms of currency, the macro team believes that MLF and LPR will continue to be reduced in 2020, and the pace and rate of interest rate cuts will exceed expectations.

  In terms of finance, the current fiscal policy focuses on three aspects, one is the prevention and control of the epidemic, the second is the resumption of labor, and the third is the support of enterprises in the areas affected by the epidemic.

  In view of the current local fiscal budget, the macro team believes that the fiscal deficit in 2020 will break 3 probability deviations.

  In terms of financial policy, according to the gradual and technical assessment of the new period of supplementary fund management regulations by the bancassurance regulatory agency, the macro team expects that the new period of asset management regulations may be extended to 2021, but the non-standard release is short-term and short-term; for smaller real estateThis epidemic has infiltrated the real estate industry fundamentals. Several local governments have issued policies to stabilize the housing market and the local market. The macro team expects that the local government ‘s autonomy in real estate policies will be further increased. The Guotai Junan Real Estate team further stated thatShort-term to long-term policies will be preceded by monetary policy, with administrative policies in the middle, and non-standard gradual easing in the easing of the hall; in terms of industrial policy, the macro team expects that the overweight infrastructure will still be “structural” and boost consumption will be moreFocus on automotive and emerging consumption.

  In general, the impact of the new crown epidemic on the economy is phased. This has been confirmed by Guotai Junan’s strategic team’s research indicators at the industry level. Looking at the 6 major sectors of communications and electronics, the 7 major sectors of new energy and automotiveIndustry, through in-depth research on four aspects: “survey data-basic conditions”, “expectable policies”, “industry boom”, and “EPS impact estimation”, the strategy team believes that the overall impact of the epidemic on these industries is limited, and follow-up work mayPotential competitive advantage.

  For the severely affected by the epidemic, with recognized aviation, express, hotel, catering, cinema, liquor and other sectors, the strategy team through the bottom-up combing, combined with industry fundamentals and investor participation and other factors, believe that “adversityThe basic conditions of “reversal” are brewing.

  Going forward, Guotai Junan’s transportation team and social service team also verified this from the industry supply and demand requirements. The transportation team used the “blue collar smooth resumption of work” as a basic scenario to make assumptions on the resumed work data and business travel data for the next month.The current situation of low-speed growth of the fleet size in 2020 is that if the summer vacation will not be significantly shortened, the aviation sector fundamentals are expected to perform better than expected during the summer vacation.

  The social service team analyzed the current status of the service industry. There is general demand for compensation and no inventory backlog. In the second half of the year, hotels, business travel, and catering are still needed. Therefore, it is judged that the tourism sector in 2021 is expected to usher in high growth due to the low base in 2020.Certainty indicators.

  According to the close tracking of the epidemic prevention and control and the industrial chain, Guotai Junan’s macro team analysis benchmarks are vertical, and the economic growth or replacement in the first quarter.

9%, the highest growth rate or from 6% -6.

The 5% range was lowered to 5.


0%, the stimulus intensity will be “medium”.

  In 2020, the pace and magnitude of interest rate cuts, broad fiscal optimism, and real estate financing relaxation will all exceed expectations.

  ▼ In 2020, the overall economic growth rate showed a “deep reversal” Source: CEIC, Guotai Junan Securities Research Refinancing New Rules Introduced On February 14, the Securities Regulatory Commission issued a formal draft of the revised mainboard and GEM refinancing rules.

The new regulations have been adjusted in many aspects such as pricing, exit, the number of objects to be issued, and the scale of financing. The relevant research team of Guotai Junan explained the highlights of the new regulations and the impact on related industries.

  First, Guotai Junan’s non-bank financial team observed three highlights of the new rules: lowering the refinancing conditions of the GEM; loosening the pricing and lock-in period; extending the validity of the refinancing approval from 6 months to 12 months.

  The tactical solicitation draft has exceeded market expectations in terms of lock-in period and pricing, while the new draft of the new regulations has been further relaxed on the margins.

The non-bank team expects that subsequent counter-cyclical breakthroughs and the favorable policies of the securities industry will be expected to exceed expectations.

  In fact, when merged into a physical enterprise, most of Guotai Junan’s team believe that the new refinancing rules are expected to further reduce the cost of capital for the enterprise and help accelerate the improvement of the balance sheet.

  In connection with the current status of the photovoltaic industry, Guotai Junan Power’s new team believes that the new regulations will treat it as an expansion of the company’s production to obtain capital support, and the company’s growth rate and market share will usher in a good one.

  At the same time, Guotai Junan’s environmental protection team also believes that refinancing will catalyze the restructuring of the industry and accelerate the speed of industry consolidation.

  By sorting out the relevant financial indicators of Shenwan Communications and GEM companies in the light industry, Guotai Junan Communications and the light industry manufacturing team believe that the “revocation of conditions that exceed the 45% of the asset-liability ratio” in the new refinancing rules will affectGEM companies have been loosened significantly, but the overall impact is limited because the number of beneficiary companies has decreased in the total number of industry companies.

  In addition to the new African epidemic, the African population disaster will also attract global attention in the beginning of 2020.

Since 2019, a 70-year blood glucose disaster has broken out in Kenya, and the flooded retinal group quickly spread to East and South Asia.

At present, the army of insects has crossed the India-Pakistan border and invaded India’s Rajasthan and Gujarat.

  Guotai Junan’s agricultural team has analyzed and researched the corn worm’s traits, hazards and disaster routes, and global food prices. It is recommended to pay attention to investment opportunities under the expected increase in food prices from three perspectives.

  First, if the impact of the disaster exceeds expectations, it will lead to a situation of food supplementation.

Among them, the main food crops grown in Central and East Africa are cassava, so the disaster will directly lead to the reduction of cassava production in the region; wheat and cotton grown in Pakistan may also be hit.

  The second is that fungi are spreading to India. India is a major sugar producing country in the world, and the price of sugar is likely to be supported by cattle.

  Third, India is a large sugar crop country. If the retina worm has an impact on sugarcane cultivation in India than expected, the disturbance of this crystallization disaster will cause a historical reversal of global sugar prices.

  U.S. adjusts the list of subsidies On February 10, 2020, the United States Trade Representative (USTR) announced on its website that some and least changed lists will be amended under the U.S. countervailing law, announcing the cancellation of WTO trade in 25 economiesPreferential policies, including China and Hong Kong.

  By referring to the relevant documents on USTR’s official website, Guotai Junan’s macro team analyzed the basis and impact of the list adjustment, and especially answered the misunderstandings prevailing in the market.  In response to the media’s and some investors’ misunderstanding of the view that the United States withdrew part of the replacement for China, the macro team first corrected the main basis of the list adjustment: First, according to the World Bank’s GNI per capita distinction of high-income economies;Second, the global trade share exceeds 0.

5%; third is other factors, including members of the OECD, the European Union, the G20, or themselves, who did not declare themselves when they joined the WTO.

  China is no longer enjoying subsidies due to its high trade share and choice for the G20.

  Specifically, after the list is revised, Thailand, Brazil, India, South Africa and other countries will not be included in the list of preferential policies of the countervailing law. Secondly, through comparison, the macro team found that the US’s revised list is only for countervailing investigation programs.It does not involve other matters under the WTO framework.

  In the end, the macro team believes that the adjustment of the countervailing investigation algorithm by the United States has little substantial impact on the substance, but it is worth alerting. This is another landmark event for the United States to reshape the global trade level and layout. Ironworking also requires its own hardship.It is also necessary to persist in deepening reform and opening up, improve all-factor advantages, and constantly improve its competition in the global value chain.

  ▼ The U.S. anti-counterfeit investigations against the above countries have never stopped Source: USITC, Guotai Junan Securities Research Industry Research Bank: The industry is in the gold allocation period February 17, the official website of the China Banking Regulatory Commission releasedMain Regulations “Indicator Data”.

  From the data point of view, the overall operating situation of the banking industry in the fourth quarter of 2019 was slightly better than expected. Among them, the stable profit is the biggest highlight. The main supporting factors analyzed by the Guotai Junan Bank team are three points. The first is the provision for loosening. The second is the large bank interest rate difference.Upside; Thirdly, asset investment rose steadily.

  Looking forward to 2020, the banking team believes that revenues will decline, provisions will be backed up, and profit stability will be the main line of the industry. The stability of the industry’s profitability tends to be better than market expectations. The current sector is near the bottom of history, and the stagnation is obvious.
  ▼ In the fourth quarter of 2019, the margin of the banking industry ‘s net interest margins widened. Source: Bank of China Insurance Regulatory Commission, Guotai Junan Securities Research Farmer: Paddy rice purchase price set in 2020 On February 18, the State Council meeting focused on keeping the minimum rice purchase price stable in 2020.Depending on the situation, it can be appropriately increased to encourage the restoration of double-crop rice in areas with conditions.

  Going forward, the Guotai Junan 杭州桑拿网 agricultural team ‘s analysis of the spirit of the meeting will affect the domestic planting field in two aspects: First, encouraging double-season rice planting will help the rice planting area to rise, benefit upstream seed demand, and work to solve the high stock problem in the rice seed industry. The industry will welcomePolicy dividends; secondly, if the minimum purchase price of rice is to be increased in 2020, the profit per acre of rice will increase, which will help increase farmers’ enthusiasm for planting and directly benefit the leader of hybrid rice seeds.

  Media: The epidemic catalyzed the breakthrough of the “housing economy” in most industries, while catalyzing the rapid development of the “housing economy”.

According to the tracking of the Guotai Junan media team, how the home scene has increased demand for 无锡桑拿网 public online entertainment consumption, the data of the long video classification platform during the Spring Festival has been outstanding, and gradually promoted to rely on the content reserve and better viewing experience to achieve user retention.

  ▼ In the Spring Festival of 2020, TV ratings will increase significantly Data source: CSM, Guotai Junan Securities Research Consumption: Technology changes consumption in the short term, the epidemic catalyzes the “housing economy”, in the long run, technological progress brings changes in demand, and gradually drives consumption fromNot stopped.
  This week, Guotai Junan’s nine major consumer teams joined forces to build on the three elements of communication intelligence, data intelligence and hardware intelligence, and paid close attention to investment opportunities in the consumer industry brought by technological advancement.

  Through in-depth research, the consumer team believes that the impact of science and technology being transformed into the restructuring and evolution of the consumer goods industry is mainly reflected in two aspects: segmentation, technology transformation into the production side, product side, supply chain side, scenario side, and marketing side. The five major changes profoundly affect the entire consumer product.The industry promotes the continuous innovation of information products and services, leading to the birth of many new varieties of science and technology; integration, the transformation of new consumer needs into scientific and technological progress is continuously being met, and the already mature categories are rejuvenated under the blessing of science and technology, creating new growthAmount of space.

  ▼ The era of commercialization of AI has reached the source of data: Wuzhen Think Tank’s “Global Artificial Intelligence Development Report”, Guotai Junan Securities Research Stock Research This week, Guotai Junan’s research team covered a total of 25 stocks, of which Lianrui New Materials (688300.

SH), Hang Ke Technology (688006.

SH) and Dafeng Industrial (603081).

(SH) 3 companies carried out the first coverage; HKUST Xunfei (002230) was raised.

SZ) and UFIDA Network (600588.

SH) and other five companies’ target prices; Shanghai Jahwa (600315) is lowered.

SH) and daily interaction (300766.

SZ) Target prices for some companies.

  First coverage of Lianrui New Materials (688300.

SH) and Dafeng Industrial (603081).

SH) is an absolute leader in the domestic silicon powder and sports equipment industry. Silicon powder is an important upstream raw material for domestic copper clad laminates and integrated circuits. Lianrui New Materials (688300).

(SH) It is expected that the rapid growth of the domestic communications semiconductor industry will usher in the expected development period.

  Dafeng Industrial (603081.

(SH) It has obvious competitive advantages in qualification brands, R & D design, industrial integration, project contracting, etc. At the same time, the company continues to extend to the performing arts industry chain. The contribution of digital art technology and performance brokerage business to the company’s performance growth is expected to exceed expectations.

  Guotai Junan Nonferrous and the media team have covered the above companies for the first time, and they have given an “overweight” rating.

  For the first time, Hang Ke Technology (688006) was given the grade of “overweight”.

(SH). The company’s revenue mainly comes from charging and discharging equipment. In recent years, it has maintained a gross profit level of more than 50%. At present, the company is extending the advantages of the consumer lithium battery industry to the power lithium battery industry.

Guotai Junan’s high-end equipment team believes that the current boom in the consumer lithium battery industry is still in progress and the company strives to maintain high growth.

  Raise the target price The increase in the target price is based on the optimism of the performance prospects of listed companies. UFIDA (600588).

(SH) The growth rate of cloud services in 2019 is as high as 150%, exceeding market expectations. Guotai Junan Computer raised the company’s target price.

  Usually because of the optimistic view of the company’s industry boom, HKUST News Fei (002230.

SZ) and New Zebang (300037.

SZ) performance indicators for 2019, but considering the former’s competitive advantage and scarcity in the AI field, the pace of overlapping production expansion is expected to catch up with the rising age of laborers. The Guotai Junan computer team and the basic chemical team refer to the current estimation center of the industry and still give the company goalsPrice increases.

  The last is due to confidence in company management.

  On February 15, Weifu Hi-Tech (000581).(SZ) announced that it plans to repurchase part of the company’s A shares through a centralized bidding transaction, with a repurchase amount of 300 million to 600 million; on February 17, the gold kitchen cabinet (603180.

(SH) It is proposed to introduce equity incentives for middle and senior management and core backbones. This plan is to grant additional shares of 129.

170,000 shares, accounting for approximately 1% of the company’s total share capital.


  The Guotai Junan Automobile team and the light industry manufacturing team believe that fair incentives are expected to accelerate the opening of the company’s growth space. With reference to the assessment of comparable companies, the target prices of some companies have been raised.

  On February 17, Linglong Tire (601966.

(SH) Announcement intends to issue no more than 1 billion shares and raise no more than $ 2 billion for Jingmen’s annual production of 8 million sets of semi-steel and 1.2 million sets of all-steel high-efficiency tire production projects and “supplementary working capital”.

The Guotai Junan Basic Chemicals team analyzes that the company ‘s capacity growth is leading the industry. Projects under construction will continue to expand the company ‘s scale advantage and also raise its target price.

  Revised target price in the fourth quarter of 2019, Shanghai Jahwa (600315.

(SH) Increasing the e-commerce expense in stages, resulting in pressure on the company’s short-term profit; In 2019, daily interaction (300766).

SZ) Impairment of large receivables, while the growth of advertising business declined.

  Guotai Junan’s retail and media teams have lowered their target prices for a number of companies based on short-term performance adjustments.

  Maintain ratings, SMIC (0981.

HK) and China Shenhua (601088.

(SH) and other companies due to performance in line with expectations, the industry’s supply and demand pattern is stable, all research teams of Guotai Junan have maintained their previous target prices and ratings.

Chenming Paper (000488) 2019 Third Quarterly Report Review: Cultural Paper’s Profitability Improves Performance and Continuous Improvement

Chenming Paper (000488) 2019 Third Quarterly Report Review: Cultural Paper’s Profitability Improves Performance and Continuous Improvement

Investment Highlights: The company announced the third quarter report of 2019, and its performance improved month-on-month, basically in line with expectations.

The company announced the third quarter of 2019: revenue from January to September 2019 was 220.

14 ppm, a decrease of 6 per year.

3%; Realize net profit attributable to mother 10.

68 ppm, a reduction of 57 per year.

0%; of which in the third quarter achieved revenue of 86.

66 ppm, an increase of 9 in ten years.

1%, an increase of 20 from the previous month.

5%; Q3 returns to mother’s net profit 5.

580,000 yuan, a ten-year average of 19.

9%, an increase of 18.


  Q3 paper prices rose month-on-month, pulp prices continued to decline, and cultural paper’s profitability improved month-on-month.

The company’s production capacity of cultural paper is close to 300 inches, and the profitability of cultural paper is improved, driving the improvement in performance.

Q3 paper prices rose month-on-month: Entering 7 months, downstream demand for cultural paper has entered the traditional off-season, but due to the low inventory of the industrial chain and the impact of marginal increase in social demand, the off-season of paper prices has been stable; entering the peak demand season in September, paper prices have entered a new era.Round ascent cycle.

According to Zhuochuang Information, the average price of double offset paper Q3 increased by 33 yuan / ton compared with Q2; the average price of coated paper Q3 increased by 83 yuan / ton compared with Q2南京桑拿网.

Pulp price decline: Affected by the continuous high level of port pulp stocks, quotations of outer disk pulp continued to decline, and quotations of silver star for outer disk coniferous pulp were gradually reduced from US $ 730 / ton in March to US $ 580 / ton in August, down by 20.

5%; the outer disk broadleaf star offer is gradually lowered from US $ 720 / ton in March to US $ 475 / ton in September, down 34.

0%, the cost of paper mill pulp fell.

  The company’s four major projects were implemented, and the self-sufficiency rate of wood pulp was further improved.

Shouguang Meilun 51 initiated the cultural paper project, Shouguang headquarters 50 initiated the cultural paper transformation project, Shouguang Meilun 100 placed chemical pulp project, Huanggang Chenming chemical pulp project, etc., were put into 杭州夜网 production and running normally in the second quarter, and gradually began to play its role.

In this round of increased production capacity, the company’s pulp self-sufficiency rate will further increase, and 100% self-sufficiency of broad-leaf pulp and chemical pulp will be realized; the leading cultural paper will gradually be further consolidated.

The integrated development of forestry pulp and paper is conducive to the company’s hedging of fluctuations in the prosperity of the paper industry.

  Financial leasing, mining expansion continued to advance, return to the main paper industry.

The company’s announcement in January 2019 was planned to be Great Wall Guorui Securities as a strategic partner. The assets of Chenming Financial Leasing Company will be transformed and integrated to achieve a fully market-oriented operation; the scale of financial leases will gradually shrink, and the scale of financial leases is expected to shrink by the end of SeptemberTo 16-17 billion yuan.

In August 2019, the company announced that it would transfer 60% equity of Haicheng Haiming Mining Co., Ltd., a holding subsidiary of Jiangsu, to Jiangsu Fidelity to realize the production of mining companies.

The company initially divested its non-paper business and returned to its main business, focusing on its main business.

  The new production capacity has been fully implemented, and the self-sufficiency rate of pulp has been further improved. The expansion of financing leases has continued to advance, and the pulp and paper integration leader has set sail again.

The company plans to expand the financing supplement business, the new projects are in production, and the capital expenditure will be further reduced in the future. The company’s funding pressure will help resolve it.

The main papermaking industry added additional production capacity, increased pulp and paper production capacity, and comprehensively integrated forestry, pulp and paper integration.

Due to the decline in white cardboard prices in the off-season, we lowered the company’s profit forecast for net profit attributable to mothers for 2019-2021 to be 1.7 billion, 2.2 billion and 2.5 billion (originally 2.1 billion, 2.6 billion and 3 billion euros), which is currently common (4.

84 yuan / share) corresponding PE is 8 times, 6 times and 6 times respectively, corresponding to 0 for PB.

6 times, maintaining the overweight level.

Purple rice is expected to be anti-cancer

Purple rice is expected to be anti-cancer

According to a joint report, scientists said today that China has always proved that purple rice (black rice), which is rarely known in Western countries, may be the best super food for cancer.

  Experts say that purple rice is low in sugar and high in fiber and can be used as a plant compound to prevent heart disease and cancer.

  According to the Daily Mail online report, California State University (Louisiana State University) is an antioxidant.

  Anthocyanins are common in many dark fruits and vegetables, such as blueberries and red peppers, which is why the color of purple rice is so deep.

  Studies have shown that dark plant antioxidants that can kill harmful harmful molecules help protect blood vessels, prevent DNA damage, and prevent cancer.

  Food scientist Xu Zhimin (transliteration) said: 1 spoon of purple rice bran contains broccoli antioxidant, fiber and vitamin E antioxidant, more than 1 spoon of blueberry, and the sugar content is still relatively low.

  Xu Zhimin pointed out: If we use berries to promote health, why not try purple rice and purple rice bran?

Especially in order to increase the intake of health-promoting antioxidants, purple rice bran is a unique and economical food.

  The study was published in the National Convention of the American Chemical Society (Boston).