53140_007之Goldfinger 金手指等390个文件_

them in your charge.”

The Deacon’s first thought was for Si, and he bestirred himself to do what he thought his wife, who was renowned as a nurse, would do were she there.

He warmed some water, and tenderly as he could command his strong, stubby hands, washed Si’s face, hands and feet, and combed his hair. The overworked hospital attendants had had no time for this much-needed ministration. It was all that they could do to get the wounded under some sort of shelter, to dress their wounds, and prepare food. No well man could be spared from the trenches for hospital service, for the sadly-diminished Army of the Cumberland needed every man who could carry a musket to man 0571杭州夜网 the long lines to repel the constantly-threatened assaults.

The removal of the soil and grime of the march and battle had a remarkably vivifying effect upon Si. New life seemed to pulse 杭州油压按摩哪家好 through his veins and brightness return to his eyes.

“Makes me feel like a new man, Pap,” he said faintly. “Feels better than anything I ever knowed. Do the same to Shorty, Pap.”

“Come here, Shorty, you dirty little rascal,” said the Deacon, 杭州桑拿按摩网 assuming a severely maternal tone, at which Si laughed feebly but cheerily, “and let me wash your face and comb your hair.”

Shorty demurred a little at being treated like a boy, and protested that he could wash himself, if the Deacon would get him some warm water; but he saw that the conceit amused Si, and submitted to having the Deacon give him a scrubbing with a soapy rag, giving a yell from time to time, in imitation of an urchin undergoing an unwilling ablution. Si turned his head so as to witness the operation, and grinned throughout it.

“I think you’d both feel still better if you could have your hair cut,” said the Deacon, as he finished and 杭州最大洗浴休闲会所 looked from one to the other. “Your hair’s too long for sick people, and it makes you look sicker’n you really are. But I hain’t got no shears.”

“I know I’d feel better if I was sheared,” said Shorty. “Hain’t neither of us had our hair cut since we started on the Tullyhomy campaign, and I think I look like the Wild Man from Borneo. I think I know a feller that has a pair o’ shears that I kin borry.”

The shears were found and borrowed. Then ensued a discussion as to the style of the cut. The boys wanted their hair taken off close to their heads, ‘but the Deacon demurred to this for fear they would catch cold.

“No, Si,” he said; “I’m goin’ to cut your hair jest like your mother used to. She used to tie one of her garters from your forehead down across your ears, and cut off all the hair that stuck out. I hain’t any


garter, but I guess I kin find a string that’ll do jest as well.”

“There,” said the Deacon, as he finished shearing off 杭州水疗会所 the superabundant hair, and surveyed the work. “That ain’t as purty a job as if your mother’d done it, but you’ll feel lighter and cleaner, and be healthier. If hair was only worth as much as wool is now, I’d have enough to pay me for the job. But I must clean it up keerfully and burn it, that the birds mayn’t git hold of it and give you the 杭州龙凤妃子阁 headache.”

The Deacon had his

Love Apartment 5 becomes a musical?Much different from The Legend of the New White Lady

“Love Apartment 5” becomes a musical?Much different from “The Legend of the New White Lady”
The controversial comedy series “Love Apartment” ushered in the fifth season.As the final season of the series, this season’s series will have several main characters stepping into the marriage life as the main line, trying to close the series with warmth and emotion.But since the broadcast, “Love Apartment 5” (hereinafter referred to as “Love Five”) has received quite a bad evaluation.One point where netizens concentrated their firepower was: “Love 5” inserted some singing and dancing clips in the episode, # 赵海棠 别 唱 ## aired on the night of the broadcast.Isn’t the episode pretty good?The singing and dancing scene in the trailer.In all fairness, the song and dance itself in this episode is not inherently low.Especially for the trailer led by Lou Yixiao, who is a professional in musical theatre, the choreography and choreography and the one-shot shooting are extremely complete.In the first episode, the song and dance fragments of Lv Ziqiao who fought against the demons before the marriage certificate were also excellent in composition and performance.From the professional perspective of musical theatre, the quality of singing and dancing is completely pass, even in the domestic musical theatre singing and dancing creation is still a relatively high level.The reason why these good singing and dancing clips are so huge and so bad is because of the audience and the drama.First of all, in China, the audience for music and dance is still very weak.China’s systematic and large-scale musical theatre market was formed in 2012. Although it once experienced rapid growth, this trend was closed and stalled around 2016.According to the annual report released by Daolu.com in 2019, the total number of musical theatre viewings in China in one year is only about 1.6 million, and the number of musical theatre audiences far exceeds this “personal attendance”.Zheng Yunlong and A Yunga in “Sound in the Heart”.Although “Sound in the Heart” made Zheng Yunlong, A Yunga and other musical actors suddenly get to the audience, these audiences are basically “chasing girls” and it is difficult to become an audience who really likes musicals.Therefore, in the face of all China, this may be less than one million, and most of the audience who may not like “Love Apartment” can enjoy the singing and dancing of musicals. The dislike is really normal.In addition, there are some problems in the rhythm and length of the song and dance clips in “Love 5”.A normal musical or song-and-dance movie usually has a ratio of 5: 5 or higher in music and lines. Many lines are lyrics, and song and dance are used to promote the development of the plot. This space ratio and rhythm arrangement will allow the audience to accept that the story containsMany messages have to be presented by singing and dancing.In the design of aria, we must consciously allocate the proportion of narrative and lyric aria.At this point, the arias in “Love 5” are too few at first. Most of the episodes close to an hour are line statements. Suddenly there is a song and dance, which is not a musical for the audience.Episodes, or ordinary episodes, if they do n’t speak well, they suddenly start singing.Singing and dancing in the “Love 5” series.Functionally, the song and dance fragments in “Love 5” are almost lyrical but not narrative.This made these arias suddenly slow down the narrative rhythm of the episode.In terms of lyrical choirs, the melody of these choirs is not smooth and pleasing, and has no value as popular music.For many viewers, the existence of these arias is unnecessary, and even deducts points.In the large-scale successful song, dance, film and television in the Air Force Chinese language world, in fact, the problems of the proportion of sing-segment and lines, the distribution of sing-segment functions and the popularity of song melody have been solved relatively well.The most prominent ones are “The Legend of the New White Lady” and “If Love”.These two film and television works have achieved a large number of arias so that the audience can accept that this is a song and dance film and television. The arias assume the narrative function, the melody is beautiful and the key qualities such as remembering.Although “New White Lady Legend” used to sing and sing, it also surprised the audience, but its catchy composition and the narrative achieved by changing the lyrics in the song made the audience accept it.”If Love” stills.In “If Love”, Zhang Xueyou, Zhou Xun and Jin Chengwu, who are both singers and singers, are selected to make the performance of each aria very exciting and become a classic in Chinese song and dance movies.As a comedy with singing and dancing arias, the alternate narrative function in “Love 5” is weak and not too funny.In the case of neither the narrative function nor the drama function, it will inevitably make people feel abrupt.As the United States, where musical and dance music culture is relatively prosperous, some sitcoms will also insert some musical dramas and dances. For example, Barney in “Romance of Mom and Dad” often starts singing and dancing.In the 14th episode of the four seasons, Raj from India launched a “Bollywood” style song and dance at the end of the episode.The comedy function of these singing and dancing clips is very high.Whether it’s through a treasure show or lyrics, these are accompanied by the same intensive laugh points as in the feature film.In the musical theatre industry, the 2011 Tony Awards Best Musical “The Book of Mormon” even made almost every song laughable and even tearful.But in “Love 5”, the setting of laugh points in the aria is too weak, making these advances “sing and dance for singing and dancing” meaningless.Stills of “The Legend of the New White Lady”.On the issue of “suspected plagiarism” in the “Love Apartment” series, the song and dance in “Love 5” are also completely suspect.In terms of the arias in the first episode and the second episode, Lu Ziqiao’s “heart demon” gradually resembles the classic “prison tango” in “Chicago” in terms of composition, lighting and scheduling, and the campus of Zhao HaitangIt is close to a beverage advertisement in Japan in terms of overall scheduling.Although these similarities should not be enough for “plagiarism”, they are not necessarily commendable.Therefore, although the songs and dances in “Love 5” are not unpleasant, their poor functionality and popularity make them the culprits that disrupt the rhythm of the episode.Although the creators do a good job of these musics, they think about what to do with these songs and dances in the overall structure.In addition to the excessive lack of laughter, this drama has a cliff-like decline in the first four seasons that can score more than 7 points.These new attempts in “Love 5” eventually made it troublesome to a new level.□ Yousuo (music critic) Wu Longzhen, editor of Sauna Night Net, proofread by Zhai Yongjun

The epidemic spread to many European events, the Paris Marathon was extended to October

The epidemic spread to many European events, the Paris Marathon was extended to October
The Paris Marathon was extended until October 18.Network screenshots are affected by the new coronary pneumonia epidemic, including the Wuhan Marathon, Chongqing Marathon, Tokyo Marathon, Seoul Marathon, and Pyongyang Marathon. Marathons in East Asian countries must be canceled, postponed or occupied.With the severity of the epidemic in Europe, marathons in Paris, Rome and other places have also been affected.As of 16:00 on March 6, Beijing time, except for China, a total of 18070 cases were diagnosed in 86 countries and regions, and 341 cases were gradually died.Among them, Italy, Germany, France, the United Kingdom and other European countries continue to increase the number of confirmed cases. Italy has cumulatively diagnosed 3927 cases, France has gradually diagnosed 423 cases, Germany has gradually diagnosed 534 cases, and the United Kingdom has gradually confirmed 116 cases.The 2020 Paris Marathon was originally scheduled for April 5, and the organizing committee released an article on the official website today stating, “As the new coronary pneumonia epidemic spreads in France, this year ‘s Paris marathon will be extended to October 18.”The Paris Half Marathon was originally scheduled for March 1 antiques, but was temporarily cancelled on February 29. The organizing committee ‘s latest statement stated that the Paris Half Marathon will also be enumerated. The new race date is September 6.Day by day.As the largest and most well-known marathon in Italy, the 2020 Rome Marathon was originally planned for March 29. The organizing committee announced on the official website earlier that it decided to cancel this year’s event due to the serious Italian epidemic.The quota was postponed to 2021.The London Marathon is one of the six major events of the marathon. The 2020 London Marathon is scheduled for April 26.In response to external threats to this incident, the London Marathon Subcommittee also publicly issued a statement a few days ago.”Sauna, Ye Wang Xu Bangyin editor Wang Xihuang proofread Liu Baoqing

[Baby milk powder brewing temperature]_Baby meal_How to make

[Baby milk powder brewing temperature]_Baby meal_How to make

After the baby is born, the diet is controlled by the parents, just because the parents are the first time, there are many places that are unfamiliar, and there are many misunderstandings.

Many novice parents use boiled water to rinse their baby’s milk, and wait until it is cold before giving it to their baby. This is a very wrong approach.

Too hot water will lead to the loss of nutritional elements of milk powder. Normally, only 45 degrees of water is needed to brew milk powder. This way the milk powder can ensure nutrition and can be replenished immediately.

Methods / steps Novice parents may have many misunderstandings about childcare, and often make mistakes, such as using freshly boiled water to make milk powder. In fact, this behavior is very wrong.

The temperature of the milk powder can be as high as 40 degrees or more. The hot water at excessively high temperature instead destroys the nutrients inserted in the milk powder.

When preparing any milk powder, you should not use boiling water. You should use warm water for about 45 seconds. “Because the high water temperature can denature the protein in the milk powder and some vitamins will be destroyed, reducing its nutritional and edible value.

“Infant formula is rich in protein, traces, glucose and vitamin A, vitamin D, and trace elements such as calcium and iron. It needs to be prepared with water before feeding to infants, but parents should pay attention to the water of formulaNever use boiling water.

The boiling water temperature is very high. When preparing milk powder, the whey protein in the milk powder is expected to produce a clot, which will affect the child’s digestion and absorption.

In addition, some vitamins that are unstable to heat will also be destroyed, especially the immune active substances added to some milk powder, which will be completely destroyed.

Therefore, use warm water to prepare milk powder to avoid loss of nutrients.

Usually the optimum temperature for milk is 40?
50 degrees, can not be soaked in hot water, wait for it to cool.

Different brands of milk powder have different formulation instructions, but generally use 40?
A warm water rinse of 60 seconds is preferred.

This temperature is enough to help speed up the chemical reaction, trigger the dissolution of sugar, milk powder, etc. in the liquid, bring out a more uniform solution, and ensure that the nutrients in the milk powder are not destroyed.

How to make baby milk powder?

1. First of all, Mommy washed her hands first, and her baby’s pacifiers and milk bottles were disinfected.

Parents must not make it convenient. It is not enough to just boil it with boiling water. They need to use boiling water for 5?
10 minutes.

It is best to use stainless steel or glass products for braking.

2. Boil tap water for 1-2 minutes, not too long, because the Russian boiling time should not exceed 5 minutes, and lead and nitrate in the water may be concentrated.

Then let it cool down to the proper temperature (40-60 ° C), place the water droplets on your wrist, and feel almost the same as the body temperature.

3. According to the amount of milk to be foamed, take 2/3 of the prepared hot water at 50 ℃ -60 ℃ and pour it into the bottle, then use the spoon with formula, add the appropriate amount of milk powder to the bottle according to the instructions, and shake the bottle, Let the formula milk fully dissolve, do not clump.

4. Add the remaining one-third of the hot water to the bottle, lay the bottle flat, check whether it is sufficient through the scale, and finally shake the bottle gently once until the formula is completely dissolved.

There are 6 points to give your baby milk powder. 1. Check the shelf life of the milk powder: In addition to the shelf life marked on the milk powder can, check the appearance of the milk powder can.

If there are predictions, leaks and damage on the milk powder container, it cannot be used.

2. Wash your hands: first wash your hands with running water, then wash them with soap for at least 20 seconds.

Wash your nails and crevices.

3. Preparing milking tools: The first-time use of the bottle, pacifier and lid must be disinfected.

After using the bottle once, it should be cleaned with a special cleaner before each use, and the pacifier should be washed with 1: 1 water and vinegar solution to help prevent breeding.

: For a new can of milk powder, first clean the top of the can and the can opener with hot water.

4, red milk powder: first add water to the bottle, it is best to use sterilized warm water, and then add an appropriate amount of milk powder, shake well.

5. For heating: Pour hot water into a bowl or pan, and put the milk bottle with milk powder inside for a few minutes.

Shake the bottle before heating.

Before feeding, first drop one or two drops on the wrist or the back of the hand, and feel gentle.

Do not heat the bottle in the microwave.

6. Safe storage: When rinsing multiple bottles of milk powder, the date of rushing must be indicated on the bottle.

Refrigerate the undrinked bottles in the refrigerator.
Throw away milk stored in the refrigerator for more than 24 hours.

[Method of refining big oil_How to practice pig big oil]

銆 愮 偧 澶 фcomplementing 勬 Nan Ping 昣 pick picker 剱 缁 紁 Power 尓 澶 ф supplements?
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[How to eat wild turtles]_How to_How to do

鐢查奔鐨勮惀鍏讳环鍊奸潪甯哥殑楂橈紝涓€鑸韩浣撹櫄寮辩殑浜猴紝鎯宠琛ュ厖钀ュ吇鐨勮瘽锛岀敳楸兼槸闈炲父濂界殑涓€涓€夐」锛岃€屼笖鐢查奔鐨勫懗閬撻矞缇庯紝涔熷彲浠ョ畻鐨勪笂鏄竴閬撶編鍛充匠鑲达紝澶How to do it? If you want to do it, you will be able to find out how to do it. If you want to check it, please check it out.琛ヨ偩鐨勫姛鏁堬紝鐗瑰埆鏄噹鐢熺殑鐢查奔锛岃惀鍏讳环鍊煎氨鏇撮珮浜嗭紝閭d箞锛岄噹鐢熺敳楸兼€庝箞鍋氬ソ鍚冨憿?Inquiries are made in the world. The most important thing is that you are in the world. You are in the world. You are in the world. You are in the world. You are in the middle of the world. You are in the middle of the world.彨娉曟槸槌栵紝鐢查奔鏄竴绉嶆垜浠緢澶氭湅鍙嬪枩娆㈠悆鐨勯鐗┿€傝€屼笖鎴戜滑澶у鏁颁汉閮界煡閬擄紝鍚冭繖涓鎴戜滑韬綋鏄湁濂藉鐨勩€傜敳楸间篃鏄竴绉嶉潪甯稿ソ鍚冪殑钀ュ吇楸肩被锛屽挨鍏舵槸澶忓ぉ澶氬悆缁濆鏈夊ソ澶勭殑锛屽畠鍙互娓呯儹瑙f瘨銆傚浜庢垜浠敺鎬ф湅鍙嬫潵璇达紝鍚冪敳楸艰繕鍙互琛ヨ偩銆傛墍浠ュ悆鐢查奔鐨勫ソ澶勬槸澶氬鐨勩€備絾鏄垜浠緢澶氭湅鍙嬮兘涓嶇煡閬撶敳楸兼槸涓嶈兘璺熶竴浜涗笢瑗夸竴璧峰悆鐨勩€傛楠?What is the rule? 铏界劧鏄珮鍏诲垎鐨勯鐗╋紝鍙槸鍚冪帇鍏篃鏈夊繉璁炽€傝吂婊″帉椋熴€佺勃渚挎簭娉勩€佽劸鑳冭櫄瀵掔殑浜轰笉瀹滃悆鐜嬪叓;鏈夋按鑲裤€佽兏鑵旇吂鑵旂Н娑层€侀珮鑴傝泲鐧界棁鑰呬篃涓嶈鍚冪帇鍏€傝櫧鐒剁帇鍏ぇ琛ワ紝涔熶笉瑕佸鍚冦€佷箙鍚冿紝瑕侀伩鍏?婊 嬭 庇 庰 劈 劸 “Adorable awards and awards? Ning Brothers and sisters? 杩樻湁鍚冪帇鍏殑鏃跺垎锛屽繀瀹氫笉鑳戒笌楦¤泲銆佸厰銆佺尓銆侀浮銆侀腑鑲変互鍙婅媼鑿滅瓑涓€鍚屽悆锛屽惁鍒欑殑璇濆韬綋鏃犵泭锛岃繕鏈夊嵆鏄悆鐜嬪叓蹇呭畾瑕佸椋熸椿鐨勶紝涓嶈兘鍚冩鐨勶紝鐢变簬鐜嬪叓浣撳唴鍚緝澶氱殑缁勮兒閰革紝姝诲悗寰堢畝鍗曠硿鐑傚彉璐紝缁勮兒閰稿彲鍒嗚В浜х敓鏈夋瘨鐨勭粍鑳虹墿璐紝椋熷悗浼氳嚧浣夸腑姣掋€? 鏈€缁堝嵆鏄挶浠湪鍚冪帇鍏殑鏃跺垎锛屾渶浣虫槸涓嶈璺熸瀛愪竴鍚屽悆锛屽惁鍒欑殑璇濓紝寰堢畝鍗曡嚧浣垮挶浠殑韬綋鍛堢幇鎷夎倸瀛愶紝鍛堢幇鎷夎倸瀛愮殑涓昏鍘熷洜鏄敱浜庣帇鍏负楂樺吇鍒嗙殑婊嬭ˉ鍝侊紝姝f湰灏变笉绠€鍗曟秷鍖栵紝閭d箞妗冨瓙鍙堢畝鍗曡嚧浣胯儉姘旓紝涓よ€呯浉鍔狅紝韬綋鑷劧浼氭劅鍒颁笉閫傘€傛敞鎰忎簨椤癸細鐜嬪叓铏界劧鏄竴绉嶆瀬濂斤紝寰堟湁鍏诲垎鐨勯鐗╋紝鍙槸鍜变滑鍦ㄥ悆鐨勬椂鍒嗕篃瑕佺暀鎰忎笉鑳借窡涓€浜涢鐗╀竴鍚屽悆锛屽苟涓斿湪鍚冪殑鏃跺垎涔熷簲褰撶暀鎰忥紝涓嶈兘鍚冨緱澶锛岀敱浜庡悆鐨勫お澶氬鍜变滑鐨勫仴搴蜂篃娆犲ソ銆傜湅鐜嬪叓鐨勫法缁嗭紝灏忎簺鐨勪竴灏忔椂宸笉澶氬浜嗭紝澶х殑涔堝啀鍔?0鍒嗛挓鍚с€?

CNPC Engineering (600339): The subsidiary newly signed 34.

The $ 8.6 billion EPC contract focuses on the positive impact of the establishment of the pipe network company on the company

CNPC Engineering (600339): The subsidiary newly signed 34.

The $ 8.6 billion EPC contract focuses on the positive impact of the establishment of the pipe network company on the company

Event: On the evening of September 1, it was announced that China Huanqiu Engineering Co., Ltd., a subsidiary of the company, signed an EPC general contract with the Tarim Products Branch of China Petroleum and Natural Gas Co., Ltd. for ethylene projects and supporting facilities in Tarim products.34.

8.6 billion yuan.

  Opinions: (1) A new large-scale contract signed by a subsidiary is expected to have a positive impact on the company’s performance in the next two years. The successful bid was made by China Huanqiu Engineering Co., Ltd., a wholly-owned subsidiary of the company, and Tarim Structure of China National Petroleum CorporationLong-term branch.

The Tarim Carbonic Acid 杭州桑拿网 Ethylene Project will rely on Tarim’s rich natural gas resources and the listed ethylene company’s independent complete set of ethylene process technology to build one of the first internal pure-feed ethylene plants.

The project construction content mainly includes an annual output of 60 tons of ethylene units, 30 full-density polyethylene units, 30 high-density polyethylene units, as well as supporting public works, auxiliary production facilities and off-site projects.

The final term of this contract is 22 months and the amount is about 34.

RMB 860,000 is expected to have a positive impact on the company’s total operating income and total profit in the next two years after the implementation of the contract.

According to the semi-annual report, in the first half of this year, the company has 7 long-term overseas engineering project contracts with a total amount of about 12.

03 ppm; there are 8 long-term domestic drilling engineering contracts with a total contract value of about 5.

700 million; the equipment sector extended external orders3.

0.6 billion.

The new large order is expected to drive the company’s operating income to continue to grow.

  (2) Focusing on the impact of domestic oil and gas reforms on industry demand and the advancement of domestic oil and gas reforms, the engineering and construction industry has entered a stage of slow recovery. We believe that the company’s performance will have two major growth factors in the future.

First, in the context of the previous implementation of the energy security strategy, the three major oil companies increased upstream capital expenditures, of which the PetroChina Group ‘s 2019 capital expenditure budget expenditures were US $ 228.2 billion, an increase of 16%.

4%, as a subsidiary of PetroChina, the oil and gas field surface engineering business has room for penetration.

Second, domestic natural gas demand is rising, and we expect that infrastructure investment such as natural gas pipelines and LNG receiving stations will increase in the future, which is beneficial to the company’s pipeline and storage and transportation engineering business development.

Follow-up needs to pay attention to the realization of capital expenditures of oil companies and the establishment progress of national pipeline companies.

  Earnings forecast and investment recommendations: The country is advancing oil and gas reforms, accelerating the construction of pipeline network infrastructure, and the company will gradually gradually benefit in the future. We maintain our earnings forecast for the company and expect a net profit of 6-2021.

53, 7.

34, 8.

44 trillion, corresponding to 0 EPS.

12, 0.

13, 0.

15 yuan to maintain the “overweight” level.

  Risk factors: risks of fluctuations in international oil prices, risks of overseas operations, risks of market competition, risks of exchange rates, and the establishment of national pipeline companies is less than expected.

Huafa (600325) performance review: sales, performance, high growth, high-quality resources, accelerated release

Huafa (600325) performance review: sales, performance, high growth, high-quality resources, accelerated release

Profit in 20181.

08 yuan, an annual increase of 42%, in line with expectations of Huafa’s 2018 results announced: operating income of 23.7 billion, an increase of 19%; net profit attributable to mothers of 2.3 billion, an increase of 42%, corresponding to profit 1.

08 yuan.

Revenue increased by nearly 20%, and investment income increased significantly.

The company’s long-term real estate development business income has increased by 19% annually to 22.7 billion, and the gross profit after tax has increased by 1 percentage point compared with the same period of the previous year, driving the gross profit after tax to increase by 23%.

Investment income of 6.27 million yuan (US $ 4.2 billion in 2017), minority shareholders’ profit and loss fell by 28%, and jointly promoted the increase in net profit attributable to mothers by 42%.

The net interest rate increased and financing costs remained low.

The company’s net debt ratio at the end of the period increased 13 times from the beginning of the year to 249%, which is at a high level in the industry.

The short-term company raised over 7.4 billion US dollars through the issuance of private placement bonds, mid-tickets, and the last-minute home purchase securities support plan. At the end of the period, cash in hand increased by 64% earlier.

At the end of the period, the company’s financing cost increased by 0 compared with the beginning of the year.

1 excellent to 5.

87%, the highest level in the industry.

The development trend is expected to exceed 80 billion per year in 2019, corresponding to an annual growth rate of 37%.

The company signed contracts in the first quarter with an annual growth rate of approximately 87% to 18.6 billion (Kerer caliber).

We expect the company’s annual budget to exceed $ 80 billion in 2019, a 37% annual increase, significantly exceeding the industry average.

Good value reserves and high quality.

At the end of the period, the company’s land reserve capacity construction area decreased by 14 compared with the beginning.

5% to 7.5 million square meters (of which 30% of the earth storage is located in the Guangdong-Hong Kong-Macao Greater Bay Area), and the unsold part of the area under construction overlaps.(Expected) 3 times.

Earnings forecast Taking into account the company’s sales acceleration, we 北京养生 raised our 2019 earnings forecast by 11% to 1.

37 yuan, 2020 profit forecast1.

70 yuan.

Estimates and recommendations companies currently have a sustainable response7.


9x 2019 / 2020e PE ratio.

Maintain recommended level and raise target price by 18% to 11.

68 yuan (mainly due to the accelerated release of company performance), corresponding to 8.


9x 2019 / 2020e target price-earnings ratio and 17% upside.

Risk adjustment cities have overweighted their adjustment policies; the financing environment has tightened.

Guanghui Automobile (600297) Annual Report Comments: Sales Increase Affects Performance, Industry Improves Elasticity

Guanghui Automobile (600297) Annual Report Comments: Sales Increase Affects Performance, Industry Improves Elasticity

Industry sales growth affects performance, performance exceeded expectations On April 23, the company released an 18-year annual report, the company achieved revenue of 1661 in 2018.

7.3 billion, previously +3.

4%; net profit attributable to mother 32.

600 million, at least -16.

27%; the company achieved revenue of 457 in the fourth quarter.

6.9 billion a year -5.

79%, net profit attributable to mother 1.

04 billion, ten years -89.

39%, we think that the company’s performance is lower than expected, which is actually caused by the decline in sales in the Q4 industry, the increase in company promotions and asset impairment.

The company intends to publicly issue no more than 3 billion convertible bonds.

According to the data of the China Federation of Passenger Consortiums, the retail sales of narrow passenger cars in Q4 in Q18 were several times -16.

86%, Q1 in 1991-10.

5%, we think the company’s new car sales growth rate is usually better than the industry, but still affected by the decline in the industry’s prosperity, it is expected that the company will achieve EPS0 in 19-21.

47, 0.

55, 0.

64 yuan, maintain “Buy” rating.

  Q4 revenue increased, promotions increased, asset impairment affected performance in Q4 2018, and the company achieved a gross profit margin of 9.

27%, ten years +0.

68 points, mainly due to the higher proportion of high-margin aftermarket business; sales expense ratio3.

62%, ten years +0.

71pct, the company has increased its promotional efforts; the management expense ratio is 1.

39%, ten years +0.

06pct; financial expenses are 6.

1.4 billion, at least -16.


Net operating cash flow 121.

6.4 billion, previously +67.

41%, the annual growth of the company’s operating net cash flow is mainly the recovery of funds at the end of the year.

The Q4 company also produced 4.

8.8 billion assets impairment losses, the company’s 18 years of asset impairment losses7.

2.2 billion, mainly including 300 million of bad debt losses, 200 million of long-term equity investment impairment losses and 95 million yuan of goodwill impairment losses.

  At the end of 18, the company’s inventory was + 21% ahead of schedule, mainly due to the increase in inventory at the end of the year.

  In 18 years, new car sales were basically flat, and the aftermarket business maintained rapid growth. The company’s Q4 vehicle sales revenue was 396.

02 billion, at least -6.

81%, mainly due to the decline in the business climate; maintenance service operating income of 40.

500 million, previously +1.

08%, the fastest growth in maintenance services income; commission agency operating income of 15.

2.3 billion, +1 a year.无锡夜网54%, mainly due to commission agency business expansion; car rental operating income4.

8.4 billion, at least -11.

11%, mainly due to the decline in the industry’s prosperity, the company appropriately tightened the scale of financing leases.

In 18, the company acquired 33 stores and 88 new car sales.

170,000, +0 in the past.

06%; 803 repairs.

08,000 units, previously +11.

84%; used car transactions 30.

270,000 units, previously +48.

88%, the second-hand car business has grown rapidly; the number of leases has been completed23.

30,000 units, previously +9.

33%, interest-earning assets scale 174.

6 trillion, ten years + 8%.

  The industry has great flexibility for improvement. We maintain the “Buy” rating. We believe that after the ratio is reduced, manufacturers announce official price reductions.The company is a leading distributor and has a large profit elasticity; if the cost of capital is reduced, it will help the company reduce its financial costs.

  In the long run, the company’s extension and endogenous growth go hand in hand, the market share promotes continuous improvement, the proportion of after-sales business increases, and the proportion of luxury car sales increases.

We estimate the company’s net profit attributable to its mothers for 19-20 years38.

18, 45.

1.7 billion (down 12).

8%, 8.

6%), the net profit attributable to mothers for 21 years is 52.

670,000 yuan, corresponding to EPS0.

47, 0.

55, 0.

64 yuan, comparable company’s 19-year average valuation 17 times PE, giving the company 14 years 19?
15 times PE estimate, given a target price of 6.


05 yuan, maintain “Buy” rating.

  Risk reminder: Sales volume is less than expected, the economic cycle is down, and automobile consumption promotion policies are introduced.

Huatian Technology (002185): The industry’s prosperity has improved, and the second quarter results have fully recovered

Huatian Technology (002185): The industry’s prosperity has improved, and the second quarter results have fully recovered

Report Summary: Incident: The company’s operating income for the first half of 201938.

4 ppm, an increase of ten years.

4%, net profit attributable to mother 0.

86 ‰, 59 years ago.

3%; after excluding the influence of the consolidated Unisem company in February this year, the operating income was 29.

800 million, a decrease of 21 every year.

2%, net profit attributable to mother 0.

65 ppm, a 69 year reduction.


Q2 single-quarter operating income21.

3 ppm, an increase of 14 in ten years.

5%, an increase of 24 from the previous month.

3%; net profit attributable to mother 0.

69 million, a decrease of 46 a year.

6%, an increase of 313 from the previous month.

9%; after excluding the influence of Unisem, the net profit attributable to the mother is 0.

55 ppm, a reduction of 57 per year.

3%, an increase of 463 from the previous quarter.

The prosperity of the 3% industry improved, driving the company’s second-quarter performance recovery.

With the recovery of the global semiconductor chip market and the increase in domestic substitution demand brought by the trade war, after three to four quarters of substitution, the packaging and testing industry has recovered significantly since April this year, driving the company’s performance rebound.

  The acquisition of Unisem will further expand overseas customers.

Unisem has many production line layouts in China, Indonesia, Malaysia and other places. It has large customers in the field of RF chips such as Broadcom, Qorvo, Skyworks, etc. The revenue of European and American customers accounts for more than 60%.

After the successful acquisition of Unisem, the company is expected to obtain more overseas customer resources and continue to increase the demand for 5G technology.

  The advanced layout of advanced production lines will bring long-term benefits.

The company’s flour-grade packaging output increased by 48 per year in the first half of the year.

At 3%, the production capacity of the Kunshan factory, which is mainly wafer-level packaging, was maximized, reducing replacement to 27.79 million yuan in the first half.

In addition, the company expanded three new mass-production customers based on Fan-Out packaging technology.

With the arrival of peak seasons such as mobile phones and consumer electronics in the second half of the 杭州桑拿 year, the Kunshan factory is expected to achieve a break-even. The advanced packaging production line that the company has laid out ahead of time will bring a comprehensive improvement in performance.

  Company profit forecast and investment grade: We expect the company’s revenue in 2019-2021 to be 90.

2, 99.

1 and 113.

0 million yuan, the net profit attributable to the mother is 4, respectively.

09, 6.

66 and 8.

08,000 yuan, diluted EPS are 0.

15, 0.

24 and 0.

29 yuan, corresponding to the current continuous PE value is 36, 22 and 18 times, respectively, the first coverage is given a “strong recommendation” level.  Risk warning: The market demand for packaging and testing is less than expected; overseas customer expansion is less than expected.