Category Archive : 夜生活

[Can wolfberry and astragalus be drunk for a long time?

]_How to drink_How to drink

[Can wolfberry and astragalus be drunk for a long time?
]_How to drink_How to drink

Lycium barbarum is recognized as a healthy food. There are many benefits to eating wolfberry, with the effect of replenishing qi and blood. The middle-aged and elderly people know the importance of health, so they often drink it with water or make it into various kinds.Come to eat food, in addition, astragalus is recognized as a valuable Chinese medicinal materials, some people will use wolfberry and astragalus to drink water to drink, which can help treat a variety of diseases, so can you drink it repeatedly?

Can wolfberry and astragalus be drunk for a long time?
Lycium barbarum and astragalus are two kinds of traditional Chinese medicine that you often hear in daily life. You can also add wolfberry or astragalus in water for daily soaking, which can effectively regulate a series of problems such as high blood pressure and high blood sugar.The numbness of the extremities of female friends and the problem of body cold can reach a certain conditioning effect, but I don’t know if wolfberry and astragalus can drink for a long time?


Chinese wolfberry and astragalus can drink Chinese wolfberry and astragalus for a long time as one of two kinds of proprietary Chinese medicines, and will not bring any toxic and side effects to themselves at the same time in daily life.

It is suggested that after dinner every evening, you can heat the appropriate amount of astragalus and wolfberry into the cup, add a small amount of hot water, and soak it for about five to ten minutes. Then you can enjoy a different flavor, andIt can effectively adjust the Asian health of the individual body. If everyone feels that the taste and taste are not particularly good, you can also add some rock sugar or honey and other condiments according to individual tastes. It is a very good choice.


The effect of wolfberry astragalus soaking water In daily supplements, wolfberry astragalus soaking water can effectively improve personal fatigue and fatigue, and make individuals very energetic, especially to improve the qi and blood deficiency problems of female friends.

At the same time, it can also improve the symptoms of cold and cold, which can greatly reduce the chance of cold and fever in winter. Astragalus and Chinese wolfberry are moderately rich in vitamins and calcium, iron, phosphorus, linoleic acid, and many other kinds.Nutrients can effectively enhance the immunity of the individual body, and also help to improve the symptoms of insomnia and dreams that are prone to occur, and to achieve the purpose of delaying aging and prolonging life.


Almost never happened, but you must pay attention, during this period, do not smoke, drink alcohol, and try not to eat some acidic foods during the period, otherwise it may decompose the effect of the medicine, affecting the body’s effect on the effect of astragalus wolfberryThe absorption is not good for personal health.

Long-term suffering is very good for an individual’s physical health. It can also achieve a good effect of nourishing qi and strengthening the spleen, promote blood circulation in the body, and reduce the probability of various cardiovascular and cerebrovascular diseases.

The above content details the issues related to the long-term drinking of wolfberry and astragalus. These two Chinese medicinal materials are allowed for a long time. The effects of nourishing the liver and kidney, and improving the eyesight are very obvious, which is very suitable for modern people to replace.Many friends stay up all night to work overtime, often increasing the individual’s body in a sub-healthy state, and combining medlar astragalus can also achieve a good conditioning effect.

[Diet table of hyperuricemia]_hyperuricemia_how to eat_dietary conditioning

Songs of the Hawthorn and Birch  雥 姨 駸 選 世界  浜 堡  朜 冩 媴 幇 х 冩 圴 湇 楑 楗  旔 熷 緢 緢 異 導 導 峼 纨 夕 礋 礎 夋 夕 夃惀鍏诲师鍒欙纴钖屾椂瑕佹带鍒跺枪锻ょ殑鎽勫叆阅忥紝鏈夊緢澶氶鐗╂槸楂樺翱閰歌鐥囦笉鑳藉悆鐨勩€?1.闄愬埗鍢屽懁鎽勫叆閲忔憚鍏ヨ繃澶氬槍鍛ゅ彲淇冧娇琛€涓翱閰告按骞冲崌楂橈紝鎴愪负鐥涢鎬у叧鑺傜値鎬ユ€у彂浣滅殑璇卞洜銆傛牴鎹梾鎯呴噰鍙栭檺鍒跺槍鍛らギ椋燂紝姣忔棩鎺у埗鍦?150mg 浠ヤ笅锛岀椋熷惈鍢屽懁楂樼殑椋熺墿濡傚姩鐗╃殑蹇冦€佽倽銆佽偩銆佽儼銆佽剳绛夎剰鑵戯紝娴撹倝姹ゃ€佽倝绮俱€佹矙涓侀奔銆佸嚖灏鹃奔绛夛紝 闄愮敤鑲夐奔绂界被銆佸共璞嗐€侀緳椤昏彍銆侀矞璞岃眴銆佽彔鑿溿€佽槕鑿囩瓑椋熺墿銆?2.鎺у埗鑳介噺鎽勫叆鐥涢鐥呬汉涓€鑸緝涓鸿偉鑳栵紝瑕佺粰浜堝噺杞讳綋閲嶏紝姣忔棩鎬荤儹鑳戒緵缁欏簲姣旀甯镐汉浣?10% 幸 幸 屸 出 出 喈 夋 椋 椋 椋 擲 擲 擴 嬔 笎 杩 涳 溴 揠 ラ 槻 姝 姝 ィ ィ ィ ャ ィ テ ィ エ 刾 刕 鈾 鈾 鈾 鈣 鍾 駆閲嶈€呮瘡鏃ユ瘡鍏枻浣撻噸渚涚粰 25 锝?30kcal?3.Do you want to go to the next place? Do you want to go back and forth? Do you want to go to a new place? Do you want to read it?0.8 Technetium?1.0g 锛屾€ユ€ф湡涓昏浠ヨ胺绫汇€佺墰濂躲€佽泲绫讳负涓?; 鎱㈡€ф湡鏍规嵁鐥呮儏锛屽湪闄愰噺鑼冨洿鍐咃紝 瀹夋帓涓€浜涘惈鍢屽懁灏戦噺鎴栦腑绛夐噺鐨勯鐗╁绂姐€佽倝銆侀奔锛堢叜杩囧純姹わ級 ; 蹇岀敤涓€鍒囧惈鍢屽懁楂樼殑椋熺墿銆傝偩鍔熻兘涓嶅叏鍑虹幇姘川琛€鐥囪€咃紝閲囩敤浣庤泲鐧姐€佷綆鍢屽懁鑶抽銆?

[Cooked potato shreds]_Chilled potato shreds_How to make_How to make

[Cooked potato shreds]_Chilled potato shreds_How to make_How to make

The hot summer has arrived, and you will lose your appetite when you see the steaming meals. That will not prevent you from mixing the cold potato shreds. The taste is super good.

The practice of this dish is very simple, and it will be OK in a few minutes, but its nutritional value cannot be underestimated. It can strengthen the stomach, regulate the spleen, improve qi, etc., and can also lose weight!

First, the practice of cold potato shreds 1.

Cut the potatoes into slices with a knife, then cut the filaments with a top knife, and cut them into water for soaking and set aside2.

Cut coriander into sections, shred red pepper 3.

Add 500 grams of clear water to the pot, boil on high heat, pour the cut potato shreds, simmer for one minute, pour into a colander, cool in cold water, and drain for 4.

Put the drained potato shreds in a bowl, add the prepared salt, MSG, sugar, white vinegar, sesame oil in order, and mix well with chopsticks5.

Add cut red pepper, coriander can be eaten two, nutritional value one, medical value The medicine of the motherland believes that potatoes are flat and have the effect of relieving the stomach, adjusting the spleen, and strengthening the qi.Ulcers, duodenal bowel ulcers, chronic cholecystitis, and constipation caused by hemorrhoids are sufficient for certain effects.

Potato is also rich in potassium, which can effectively prevent high blood pressure.

When the human body takes too much salt, the body ‘s sodium will be too high, and potassium will become insufficient to cause high blood pressure. Therefore, eating potatoes often can promptly supplement the body with the required potassium elements; the vitamin C in potatoes in addition to the brainCells have health effects.

Second, nutrition identification 1.

Harmonizing the stomach and strengthening the spleen and dampness: Potatoes contain a large amount of starch and protein, B vitamins, and vitamin C, which can promote the digestive function of the spleen and stomach.

Potato contains a small amount of solanine, which can reduce gastric secretion, relieve fracture healing, and have a certain healing effect on stomach pain; 2.

Wide bowel laxation: Potatoes contain a lot of supplementary fiber, which can widen bowel laxation, help the body excrete metabolic toxins in time, prevent constipation, and prevent disease; 3.

Hypoglycemic and lipid-lowering, beauty and beauty: Potatoes can provide the body with a large amount of mucus protein with special protective effects.

It can promote the lubrication of the digestive tract, the respiratory tract, the joint cavity and the serosal cavity, prevent the cardiovascular and systemic micro-deposition, maintain the elasticity of the blood vessels, and help prevent the occurrence of atherosclerosis.

Potato is also an alkaline vegetable, which is beneficial to the acid-base balance in the body and neutralizes the acidic substances produced by the body’s metabolism, thereby having a certain beauty and anti-aging effect; 4.

Supplement nutrition, water and swelling: Potatoes are rich in vitamins, calcium, potassium and other trace elements, and easy to digest and absorb, rich in nutrients. In Europe and the United States, especially North America, potatoes have long become the second staple food.

The potassium contained in potatoes can replace sodium in the body and release sodium in vitro, which is conducive to the recovery of patients with hypertension and nephritis and edema.

Third, in view of potential Chinese medicine, potatoes are considered to be non-toxic, can strengthen the spleen and stomach, improve qi, regulate pain, relieve pain, and facilitate stool.

It is effective for patients with weak spleen and stomach, indigestion, upset stomach, abdominal pain, and poor stools. ”

Modern research proves that potatoes have special effects on mediating indigestion, and are good medicines and high-quality health products for patients with stomach and heart disease.

Hanlan Environment (600323): The 2018 performance was deducted from growth 21.

5% solid waste + gas drive significantly

Hanlan Environment (600323): The 2018 performance was deducted from growth 21.

5% solid waste + gas drive significantly

Core point of view: The company’s net profit attributable to its parent in 2018 is a two-year increase of 21.

5%, in line with market expectations of the company’s 2018 revenue of 48.

48 ppm (ten years +15.

4%, the same below), net profit attributable to the mother 8.

7.6 billion (+34.

2%), net of non-attributed net profit 7.

2.2 billion (+21.

5%, non-recurring mainly due to the disposal of official kiln income).

The growth of performance is supplemented by the commissioning of solid waste projects (such as the Dalian and Shunde projects, the completion of the Langfang expansion, etc.), the price adjustments of some projects, and the smooth growth in sales of gas customers.

The solid waste and gas business has grown steadily. Due to the increase in environmental protection costs, the gross profit margin of solid waste has declined slightly. In terms of business, the company’s solid waste business achieved revenue in 201817.

6.5 billion (+24.

24%), corresponding to an increase in sales of waste disposal by 15 per year.

6%. According to the company’s announcement statistics, the current solid waste transportation capacity exceeds 100 million tons / day, and the waste incineration orders in hand are under construction and planned to exceed 1.

300 million tons / day.

However, due to environmental protection, increased safety requirements, increased material replenishment and equipment technological transformation, and increased material prices, the gross profit margin of the solid waste business was 35.

2% down 4.

85 units.

Revenue from gas business17.

10,000 yuan (+20.

33%). The increase 杭州夜网论坛 was mainly due to the company’s assistance in the clean energy transformation of the South China Sea (focusing on the expansion of ceramic industry users). The sales volume of natural gas increased by 18%, and the gross profit margin of gas was 20.

5% was basically the same as the previous year.

Honghua Environmental Protection has been put into trial operation in 2019, and the extension of the hazardous waste business Tim Power Company invested in November 20183.

700 million acquisition of Jiangxi Ganzhou hazardous waste project (disposal scale is 7.

2 years / year, the first phase of incineration, materialization and landfill construction has been completed). The project was put into trial operation in January 2019. The production site is in good condition.Combined with Air Force’s hazardous waste layout, this business is expected to become a new growth point for the company.

The successful release of SDIC Power as a war investment, the proposed issuance of convertible bonds to accelerate the construction of the project, maintaining the “buy” rating is expected to the company’s EPS in 2019-2021 respectively.

27, 1.

53 and 1.

84 yuan / share, corresponding to the latest PE at 12 respectively.

9, 10.

7, 8.

9 times.

The company’s location advantage is obvious, and the multi-business layout enhances the certainty of growth. The non-performing performance in 2019-2021 will still maintain a growth rate of more than 20%. Out of prudence, we give a 15x PE estimate for 2019, corresponding to 19.

Reasonable value of 02 yuan per share. The company successfully dated SDIC Power as the three shareholders. It plans to issue convertible bonds for investment in solid waste projects and maintain a “buy” rating.

Risks indicate that the construction progress of the water plant is higher than expected, and the construction progress of the solid waste project is not up to expectations; the return on assets of new construction projects is falling; the downstream demand for gas is not up to expectations; the purchase price of gas has increased significantly.

[Dendrobium Huaishan Qizi Pork Bone Soup Practice]_How to do_What method

[Dendrobium Huaishan Qizi Pork Bone Soup Practice]_How to do_What method

Dendrobium and Huaishan are both foods with high nutritional value, which have good conditioning and health effects on the body. For example, Dendrobium has the effect of nourishing yin and promoting fluid, Huaishan has good anti-cancer and anti-cancer effects, and wolfberry has a goodThe comprehensive function of eyesight and strong kidneys, made these ingredients together into Dendrobium Huaishan Qizi pork bone soup, which has good health effects, can promote blood circulation and improve the body’s immunity.

Dried Dendrobium Huaishan Qizi Pork Bone Soup Ingredients: 50g fresh Dendrobium and 300g lean meat.

Supplementary materials Huaishan, 50g wolfberry 10g, appropriate amount of salt, light Dendrobium Huaishan wolfberry broth Step 1 Fresh Dendrobium wolfberry, Huaishan, lean meat (or pork bones, poultry) seasoning: salt 2 fresh Dendrobium to remove dead branchesThe leaves are washed and made flat. 3 Dendrobium is a more pot-resistant medicinal material. It is better to cut small pieces and even rotten to make a soup. 4 Wash the lean meat and cut into pieces.Put enough water about 2500 milliliters or so.

Put in wolfberry for 5 hours and continue to cook for 9 hours and half a hour. Turn off the salt and season with salt. Our taste is relatively light. Soup is basically cooked without salt. Seasoning and nutritional effects. Chinese medicine Dendrobium is a stalk of a variety of orchids.

Dendrobium’s original plants mostly grow in rocky crevices on cliffs or parasitize on tree trunks deep in dense forests, and yield in natural environments is very small.

Dendrobium was once listed as “Immortal Grass” with Ganoderma, Ginseng, Cordyceps and so on.

However, it must be noted that Dendrobium is mildly cold and greasy, and has the disadvantages of convergence of evil qi. It can fight the spread of diseases inside the human body, and can also help wet sputum and reduce heat. Only due to fever, strain, and aging.It can be used only if the yin deficiency and hotness are caused. Those who are usually hot and humid, sputum, obese or have a fat and thick taste, as well as those suffering from colds, diarrhea, edema, jaundice, sores, and so on.Should not take Dendrobium.

Dendrobium is a more pot-resistant medicinal material. If you shoot fresh Dendrobium, there will be mucus. That is the essence of Dendrobium.

It is better to use fresh Dendrobium to make soup or even add water to stir it.

ZTE (000063): Operators’ business recovery is obviously optimistic about the possibility of 5G construction

ZTE (000063): Operators’ business recovery is obviously optimistic about the possibility of 5G construction

Event: The company released its 2019 Interim Report, which achieved operating income of US $ 44.6 billion in the first half of the year, an increase of 13%; the net profit attributable to ordinary shareholders of listed companies was 14.

7.1 billion, turning losses into profits previously; in line with expectations.

At the same time forecast the first three quarters to achieve a net profit of 38?
4.6 billion, in line with expectations.

Shenzhen Bay Super Headquarters Base Project Confirms Revenue and Boosts Q3 PerformanceQ3 single-quarter net profit after the project is about 2?
1 billion, in line with expectations.

The operator’s business recovery is obvious. The gross profit margin of the three major businesses increased in the first half of the year. The operator’s business revenue increased by 38% to US $ 32.4 billion. The business recovery was significant. It mainly benefited from domestic and foreign FDD system equipment, internal optical transmission products increased, and gross profit margin 44.

73%, up 3.

49pct; government and corporate affairs have grown steadily, with revenue of US $ 4.7 billion, an annual increase of 6%, and a gross profit margin of 36.

95%, up 8.

33pct; the remaining budget for consumer business, revenue of 7.4 billion US dollars, a year-on-year decrease of 35%, gross profit margin of 16.

48%, up 8.


The domestic market has grown steadily, and the European and American markets have declined. In the first half of the year, the company’s domestic market revenue has steadily increased and increased year by year.

5%, accounting for 61% of revenue; Asia and Africa markets have grown significantly, increasing 83%, 112% respectively; Europe and the United States and other markets have improved, decreased by 18%, and accounted for 15% of revenue.

The global wave of 5G construction has begun, optimistic about the company’s market prospects. Major equipment vendors are prominent in the communications industry chain and are the mainstay of the communications industry.

After years of company R & D investment and continuous upgrading of industry technologies / standards, the main equipment supplier industry has formed absolute high barriers.

We believe that in the next wave of 5G construction, major equipment manufacturers will benefit the most, and the competitive pattern formed by the restructuring of high industry barriers will ensure the overall profit level of equipment manufacturers.

ZTE, as the second domestic and the top four main equipment manufacturers in the world, will fully benefit from the 5G trillion investment and construction.

In addition, the company is actively deploying 5G multi-modal terminal products, and consumer business is expected to usher in a turnaround.

Maintain “Buy” rating and maintain 19?
The 21-year net profit forecast is 4.49 / 61/7 billion US dollars, corresponding to PE26X / 21X / 18X. It is optimistic about the market prospects of the company as the world ‘s top four major equipment manufacturers under the global 5G construction wave. Maintain a “Buy” rating risk warning.: Trade friction escalates, 5G progress is less than expected, and overseas business expansion is 南京桑拿网 blocked

Yutong Technology (002831): Large-scale packaging customers gradually increase the volume and optimize the multi-faceted layout strategy to drive new growth

Yutong Technology (002831): Large-scale packaging customers gradually increase the volume and optimize the multi-faceted layout strategy to drive new growth
This report reads: The company released the third quarter report of 2019, and the performance was in line with expectations.New customers in new fields of large packaging are gradually increasing, the pressure on raw material costs is reduced, the overall product structure is optimized, and the profit is improved. The cloud packaging industry Internet platform opens up new markets. Investment Highlights: Raise target price to 27.37 yuan, maintaining the overweight level.The company released the third quarter report of 2019, and 3C customers achieved higher growth. Cigarette labels, wine bags, environmentally friendly paper and plastics, Yunchuang and other businesses continued to develop, and their performance was 杭州桑拿网 in line with expectations.Considering that the company’s large packaging customers are gradually heavy, 3C customer orders are expected, and the advantages of overseas layout appear, maintaining the company’s 2019?The EPS in 2021 is 1.24/1.46/1.76 yuan, with reference to the industry to give the company about 22 times PE in 2019, raise the target price to 27.37 yuan, maintaining the overweight level. The performance was in line with expectations, and the profit level continued to be repaired month-on-month.The company achieved revenue of 63 in the first three quarters of 2019.4.6 billion, an increase of 16.35%, net profit attributable to mother 6.08 million yuan, an increase of 12.13%, deducting non-net profit 5.4 billion, an increase of 14.14%, comprehensive gross profit margin of 30.42%, net margin 9.88%; in the third quarter, 南宁桑拿 single-quarter revenue and net profit attributable to mothers increased by 22 respectively.79% and 13%, the growth rate has increased significantly, and the gross profit margin has increased by 4 from the previous quarter.85pct to 33.75%, net interest rate increased by 4 from the previous quarter.29 points to 12.01%. Market orientation continued to develop high-quality customers, optimized product structure, and improved efficiency helped the recovery of gross profit margin. The company has increased its efforts in the development of smart hardware, tobacco, alcohol, health, cosmetics and other products. Some new customers have gradually increased their volume. The overall structure of the product has been optimized, raw material prices have fallen, and production efficiency has increased. These factors have driven the company’s gross profit margin to recover. The environmental protection tableware was formally put into production and contributed to the increase, strengthening the Internet platform of the cloud packaging industry.The company’s plant fiber industry is leading the way, and the domestic “plastic ban” wave is gradually emerging. Environmentally friendly paper and plastic is expected to become a performance-driven increase.The company strengthens the industrial Internet platform to provide customers with high-end marketing vision, commercial prints and other solutions. Yunchuang Technology plans to build and become the largest digital production base in South China, and provides customers with better services through perfect supply chain management. Risk Warning: Macroeconomic Growth Forecast; Raw Material Price Rise; Exchange Rate Risk

Yutong Technology (002831): New Shanghai Production Capacity + Convertible Bonds Approved, New Growth Started, Maintaining Recommendations

Yutong Technology (002831): New Shanghai Production Capacity + Convertible Bonds Approved, New Growth Started, Maintaining Recommendations
Event 1: On January 10, Yutong Technology announced that the company plans to invest 700 million US dollars in Shanghai Jinshan Industrial Zone to build Yutong’s high-end printing and packaging projects with its own or self-raised funds.The project is expected to achieve full production in 2026, with an annual output of 200 million high-end paper packaging gift boxes.800 million color boxes and 1.500 million printed manuals and other printed materials, achieving an annual output value of about 1 billion.  Event 2: On January 4, Yutong Technology issued an announcement that the convertible corporate bonds to be issued by the company were approved by the China Securities Regulatory Commission: the company has approved the company’s public issuance of convertible corporate bonds with a total face value of 1.4 billion. The term is 6 years.Valid for 6 months from the date of approval for issuance.  Event 3: On January 4, Yutong Technology announced the progress of share repurchase at the same time. As of December 31, 2019, the company implemented the repurchase of shares through centralized bidding transactions through the repurchase of special securities accounts, and the cumulative number of repurchased shares was about 322.850,000 shares, accounting for 0 of the company’s total share capital.3681%, the highest price was 24.300 yuan / share, the lowest transaction price is 21.970 yuan / share, the total transaction amount is about 7635.310,000 yuan (excluding transaction costs).  1. It is planned to invest USD 700 million in the construction of a high-end printing and packaging project in Shanghai, and to enhance the company’s comprehensive supporting service capabilities. In order to further enhance the company’s comprehensive supporting service capabilities, Yutong Technology intends to use its own or self-funded funds in the Shanghai Jinshan Industrial Park.Invested 70,000 yuan to build Yutong high-end printing and packaging project.The planned land area of the project is about 80 acres, and it is expected to achieve full production by 2026. After the production is completed, 200 million high-end paper packaging gift boxes will be produced annually.800 million color boxes and 1.500 million printed materials, such as manuals, have achieved an annual output value of about 1 billion after they have reached full capacity.  On the basis of long-term customer service, the company is committed to providing high-end brand customers with overall solutions such as packaging, marketing, advertising and customized gift services, and to provide customers with exclusive and personalized integrated packaging services.The implementation of the project is conducive to further improving the company’s comprehensive supporting service capabilities. From the perspective of the company’s long-term development, it will have a positive impact on the company’s performance improvement and profit growth.  2. The fundraising of convertible bonds focuses on the development of environmentally friendly paper and plastics, the promotion of international layout, intelligent packaging, cost reduction and efficiency enhancement. The convertible corporate bonds to be issued by the company have been approved by the China Securities Regulatory Commission.The USD convertible corporate bonds have a term of 6 years, and the approval is valid for 6 months from the date of approval for issuance.According to the public offering plan, the convertible bonds are planned to issue 14 trillion yuan, of which 600 million US dollars will be used to construct the Yibin environmental protection paper and plastic project, which will occupy 2 respectively.5, 1.27, 0.5.1 billion yuan was allocated to Xuchang, Vietnam and Indonesia to expand production bases, and the other 4.$ 200 million to supplement working capital.  The global plastic ban policy drives the development of environmentally friendly packaging market, and environmentally friendly tableware will become an important driver of the company’s performance growth.The company’s plant fiber product production base in Dongguan has been put into operation, and the Sichuan Yibin plant fiber product production base has invested less than RMB 600 million, and is expected to be completed and put into production soon.Environmentally friendly paper and plastic is a green environmental protection packaging transformation direction, which can effectively replace the existing plastic and foam products.The internal and new customers of the company have begun to use environmentally friendly paper and plastic products. Leaders in various fields such as Meituan, SF, Huawei, and Xiaomi have begun to use environmentally friendly paper and plastic products instead of plastic or foamable disposable tableware and express bags.Neto and so on, and are promoting quickly.According to data from third-party market research institute Technavio, the size of the existing global environmentally friendly paper and plastics market in 2017 was close to 30 billion, with a compound annual growth rate of nearly 8% in 2018-2022.With the gradual promotion of the “plastic ban” policy, the company will become a leading manufacturer of plant fiber tableware industry.  The international layout provides supporting services and is expected to benefit customers’ expansion.The company plans to raise funds to allocate 21 respectively.27, 0.51 million US dollars Vietnam, Indonesia production base expansion, and set up service centers and offices in Hong Kong, China, the United States and Europe and other countries and regions.In the future, the company will cooperate with customers to gradually progress, accelerate the expansion of overseas industries, product line layout, and continue to promote internationalization.  Continue to promote intelligent packaging, promote efficiency improvements, and optimize costs.The company continues to promote intelligent packaging and expands the company’s Xuchang smart factory. It is expected to be delivered in 2020. Reorganization. The company announced in the previous announcement that it will invest USD 600 million in Huizhou to build a smart packaging industry base.million.Project planning products include intelligent, automated products, new material molding and manufacturing products, and intelligent packaging products.By building a smart factory, it is expected that the company will effectively enhance the company’s degree of intelligence and automation, and achieve efficiency improvements and cost optimization.  3. The wave of 5G consumption will drive the recovery of intelligent electronic equipment, and the consumer electronics packaging industry is expected to benefit.The 5G consumption wave will drive the recovery of intelligent electronic equipment and equipment, and the consumer electronics packaging industry will benefit.On June 6, 2019, skipping the trial commercial phase, the Ministry of Industry and Information Technology officially delivered 5G commercial licenses to the four major operators: Mobile, China Unicom, Telecom, and Radio and TV, so 2020 will be the starting point for global 5G applications.With the commercialization of 5G, due to subdivision reasons, if you want to use 5G, you must change the phone, and the change is attractive.According to IDC, 5G smartphone expansion will account for 8% of total smartphone conversions in 2020.9%, reaching 1.200 million units, and by 2023, this proportion will increase to 28.1%.  According to Qualcomm’s forecast, 5G mobile phones will increase by 4 in 2021.500 million units, which will increase to 7 by 2022.500 million units.In the next 2-3 years, it is basically determined that there will be a wave of 5G mobile phone replacements, which is expected to drive the recovery of smart phones.At the same time, 5G commercial use is also driving the demand for other intelligent electronic equipment.  Yutong Technology has initially penetrated into the field of 3C packaging, and pre-cut into the supply systems of well-known customers such as Google, Harman, Amazon, Xiaomi, etc., and has also opened up packaging markets for smart home, smart wearable, VR / AR and other devices.According to the company’s public account report, on November 7, 2019, Yutong Technology signed a strategic cooperation agreement with Goertek. Yutong Technology became the sole strategic partner of Goertek’s printing and packaging. The two parties will expand in-depth cooperation.Goertek’s R & D, manufacturing and sales of military acoustic and optical precision components and precision structural parts, intelligent complete machines, and high-end equipment, the company achieved revenue of 237 in 2018.5.1 billion, net profit attributable to mother 8.6.8 billion yuan.The company has many years of service in the field of consumer electronics, the experience of well-known brands at home and abroad, and the automated production strength of high-end intelligent manufacturing. Providing integrated solutions to multiple high-end brands will help to fully benefit from the 5G consumption wave.  4. New contributions from tobacco and alcohol packaging, cloud packaging to create an industrial Internet platform, the company achieved revenue 63 in the first three quarters of 2019.460,000 yuan, an increase of 16 in ten years.35%; net profit attributable to mother 6.08 million yuan, an increase of 12 in ten years.13%; of which revenue was 26 in 19Q3.62 ppm, an increase of 22 in ten years.79%; net profit attributable to mother 3.1.2 billion, an increase of 13 in ten years.00%.As for the wine package business, the company won all the bids on August 29, 2019 in Maotai wine paper gift boxes (handmade boxes) and matching bags, wine paper card boxes and matching bags, and wine outer packaging cartons.Supplier list, the company is bound to cooperate with well-known customers such as Yanghe, Shuijingfang, Guizhou Xijiu and other stable cooperation, and the prospect of the wine package business is good in the future.In terms of cigarette package business, the company completed the acquisition and acquisition of Wuhan Aite in 2018, and gradually obtained the qualification of some China Tobacco suppliers.  2019H1 Wuhan Aite is expected to achieve revenue1.7.1 billion, an increase of about 63% over the same period.In the field of cosmetics packaging, the company has in-depth 四川耍耍网 expansion of high-quality large customers such as Procter & Gamble, Unilever and L’Oreal. After the initial running-in, some new customers have gradually increased their orders.  In addition, the company’s industrial internet platform uses existing industry resources, design resources, brand resources, network resources and technical resources to provide customers with high-end marketing visual solutions, commercial printing solutions, personalized custom solutions, and small batch packaging solutions.Solutions and anti-counterfeiting traceability solutions.Yunchuang Technology, a wholly-owned subsidiary of the company, plans to build and become the largest digital production base in South China, and provides customers with better services through perfect supply chain management.  5. Share repurchase is used for employee 成都桑拿网 shareholding plans to increase the motivation of the company’s employees. On June 15, 2019, the company issued an announcement on the plan to repurchase the company’s shares.The company’s shares were repurchased at a price of 343 yuan, and the repurchase amount was not less than 100 million and not more than 200 million.As of December 31, 2019, the company repurchased shares through centralized bidding transactions through the repurchase of special securities accounts, and the cumulative number of repurchased shares was approximately 322.850,000 shares, accounting for 0 of the company’s total share capital.3681%, the highest price was 24.300 yuan / share, the lowest transaction price is 21.970 yuan / share, the total transaction amount is about 7635.310,000 yuan (excluding transaction costs).  All the shares repurchased by the company will be used for the company’s employee stock ownership plan, which will help coordinate the interests of employees and the company, enable employees to share the company’s development bonus, establish a long-term incentive mechanism, attract and retain outstanding talents, and fully mobilize employeesBe motivated and earnestly protect the interests of the company and investors.  6. Investment suggestion: We expect Yutong Technology’s operating income from 2019 to 2020 to be 99.70, 125.6.2 billion, an increase of 16 each year.23%, 25.99%; net profit attributable to mothers is 10.80, 13.7.1 billion, an increase of 14 each year.16%, 26.94%, corresponding to a P / E of 23.5x, 18.5x, maintain “Buy” rating.  7. Risk factors: The price of raw materials and the exchange rate have increased; competition in the industry has intensified; new business development has fallen short of expectations.

Strengthening Insider Trading Prevention and Control M & A Reorganization Reasonable Recovery

Strengthening Insider Trading Prevention and Control M & A Reorganization Reasonable Recovery

Although the unbundling of M & A and restructuring policies has continued since the second half of last year, the supervisors have also continued to strengthen their reporting and crack down on insider trading.

Analysts point out that M & A and restructuring has always been a high-prone area for insider trading. Data show that the number of cases of insider trading in M & A and restructuring in 2018 increased by 30% compared with 2017.

The issue “Related Issues and Answers on Strengthening the Prevention and Control of Insider Trading in Listed Companies’ M & A and Reorganization” recently announced that it is necessary to clearly report the insiders in multiple stages to comprehensively strengthen the prevention and control of insider trading in mergers and acquisitions.

  A few people said that the supervision and strengthening of brokers and other intermediaries’ consciousness of responsibility should be adopted, and the capital market door should be kept well. It is expected that the M & A and restructuring market will focus more on emerging emerging industries such as high-end manufacturing in the future and further return to the origin of M & A.

  The high-incidence zone of insider trading On February 13, the CSRC announced the results of Xinri Hengli’s merger and reorganization insider trading case, which totaled 1,794 million in fines.

In 2015, the listed company Xinri Hengli planned to pass the merger and acquisition of Boya stem cells and date the biological business sector.

In fact, the controller Yu Jianming leaked information to the husband and wife of a bank president Li Fu who had known each other for many years during the company’s planning of the merger and acquisition project. The couple then used inside information to buy and sell Xinri Hengli stock, which ultimately constituted insider trading and actually made a profit of 448.

740,000 yuan.

  In fact, M & A has always been a high-frequency area for insider trading.

The China Securities Journal reporter combed the council and the local securities regulatory bureau’s announcement and found that in December 2018 alone, the regulator issued a series of five administrative possible decisions involving multiple stocks in response to insider trading in M & A and restructuring matters.

  M & A and reorganization matters 北京会所体验网 have a long planning cycle, involve a wide range of areas, and have a significant impact on the market. They can easily become a tool for illegal actors to seek improper benefits.

The “2018 Summary of Administrative Intervention of the Securities Regulatory Commission” issued by the Securities and Futures Commission in January 2019 states that in 2018, the Securities and Futures Commission turned into 87 cases of breach of insider trading cases, of which 57 involved inside information related to asset mergers and acquisitions.This shows that this area is still a high incidence of insider trading.

The Securities Regulatory Commission pointed out that a series of insider trading cases involving “Han Ding Yu You”, “Chang Ying Precision”, and “Shilan Micro” all exhibited the characteristics of “whole case”, focusing on the information about the merger and reorganization of the same asset, and some insiders were informed.People despise professional ethics, abuse information advantages to deliberately infringe on investors’ legitimate rights and interests, and some related persons have used special relationships or contacts with insiders to obtain inside information illegally in an attempt to obtain illegal benefits, and they have been severely punished according to law.

  Mo Yichen (a pseudonym), the head of securities-related business of CITIC Construction Investment, told the China Securities Journal that the difficulties in cracking down and preventing insider trading are: First, the decision-making process of listed companies’ mergers and acquisitions and reorganizations is long, there are many re-examinations, which involve a wide range of issues, and it is easy to reorganize information.highest.

According to the latest new rules on suspension and resumption of trading, a listed company planning to issue shares to purchase assets may apply for a short-term suspension of trading based on actual conditions for a period of no more than 10 trading days.

However, in actual operation, M & A transactions need to coordinate the transaction target, counterparties, intermediaries, regulators and other multi-entity entities, and the news may have occurred by the time of suspension.

Second, the legal system of some relevant insiders is weak, and the reorganization can’t keep the temptation. It is easy to produce insider trading.

  Strengthening Insider Trading Prevention and Control In order to further strengthen the risk prevention and control of insider trading, the “Supervisory Questions and Answers”
issued by the Securities and Futures Commission on February 11 pointed out that listed companies can submit a list of insiders who know inside information to the securities issue at the first reissue.
The previously disclosed first reorganization event refers to the first disclosure of the planned reorganization, reorganization plan or reorganization update report (early morning).

Significant adjustments to the reorganization plan between the announcement of the re-issue of the reorganization of the listed company for the first time and the supplementary update report, termination of the reorganization, or the disclosure of the major financial indicators, forecast values, and pricing of the underlying assets of the subject matter for the first time of repeated issuance should be supplementedWhen major changes in the reorganization plan or important elements are disclosed, the list of insiders who submitted inside information will be supplemented.

In the event that a listed company’s stock transaction changes abnormally after the first re-issue of the reorganization, the stock exchange may request the listed company to update the list of insiders with inside information, as appropriate.

  The “Supervisory Questions and Answers”
also pointed out that listed companies should disclose inside information in the supplementary report to the insider ‘s self-examination report on stock trading; during the self-inspection on stock trading, the issue was the first reissue or the stock suspension was applied for this reorganization (early morning)As for the monthly update report.

After the listed company copied the reorganization report, it made major adjustments to the reorganization plan, terminated the reorganization, and supplemented the self-examination report on the stock transaction; during the period of the stock transaction self-examination, the report was copied to the major adjustment or the reorganization was terminated.

  ”Information for insiders has been there before, and it has always been strict.

Li Ming (a pseudonym) from a securities brokerage investment bank in the South told a reporter from China Securities Journal that the supervision clearly states that insiders are reporting in multiple stages, which is a new form of supervision brought about by the new suspension system. The core point is still the supervision ofThe suspension of resumption involved in M & A and restructuring matters remains a major concern.

  Li Ming said that according to the latest regulatory requirements, listed companies can no longer suspend trading randomly, and the suspension time is shorter than before. In this case, the risk of reducing inside information has actually increased.

Therefore, the supervision of the informed phased reporting by the insiders is a supplement to the new suspension and resumption system to a certain extent.

  China Securities Journal reporters have learned that securities companies have always taken precautions against insider trading during the implementation of the project. After the restructuring and suspension rules have been changed, the prevention of defense has increased to a certain extent, but the securities companies are also actively responding to the new rules to further increase their prevention efforts.

Mo Yichen pointed out that the refinement of the regulatory requirements has further clarified the scope and period of insider transaction verification, making the verification of securities firms more evidence-based, reducing related burdens, facilitating work performance, and preventing insider transactions.Acts such as counterattack flickering reorganization can play a positive role.

As financial advisors, securities firms should, under the guidance of relevant regulatory regulations, strengthen the preaching of M & A restructuring participation and its related personnel in accordance with the seriousness of insider trading and its precautionary measures, and at the same time further increase the verification efforts to prevent related risks to the greatest extent.

  ”At the source of the project, the securities firm should have a deep understanding and approval of the merger and acquisition strategy of listed companies, screen projects based on the commercial nature of mergers and acquisitions transactions, and resolutely resist flicker and follow-up restructuring.The first line of defense.

Mo Yichen is outstanding. Securities companies should establish a sound internal risk control system, play the role of “gatekeeper” in the securities market, transition compliance management to project approval, and move from core to external submission of materials to ensure the project.Successful implementation.

In addition, strategic industries should pay more attention to high-growth energy-saving and environmental protection, information industry, bio-industry, new energy, new energy vehicles, high-end equipment manufacturing and new materials.

  The rational pick-up in the M & A market Preliminary sources said that since the second half of 2018, the M & A and restructuring business has gradually loosened, the pace of review has accelerated, and the mitigation measures to replace private enterprises have been implemented, and the M & A market has shown a warming trend.

  ”Now the enthusiasm for corporate mergers and acquisitions has clearly increased, but unlike the previous wave of mergers and acquisitions, this round of mergers and acquisitions market will gradually return to rationality.

“Mo Yichen frankly stated that as an important model of outreach development of enterprises, the future M & A market will be gradually supported by the logic of industrial mergers and acquisitions. Listed companies will promote industry integration and transformation and upgrading through market-based mergers and acquisitions, which will generate new points of performance growth.

In addition, in the current round of mergers and acquisitions, the reorganization and listing may be heated.

  According to Wind information statistics, from the perspective of industry classification, in the major asset reorganization transactions disclosed for the first time in 2018, there were 27 computer, communications and other electronic equipment manufacturing industries with a transaction value of 900.6.7 billion households, accounting for 11.

59%, ranking first. M & A and reorganization are clearly concentrated in the real economy and emerging industries.

  Obviously, the resurgence of mergers and acquisitions and restructuring does not mean that the policy is fully relaxed.

Mo Yichen said that the supervisory authorities still have “untouchable red lines” when reviewing projects, and there is still no room for relaxation in situations such as insider trading and high goodwill.

  Chen Yue (pseudonym), an M & A staff member of a listed securities investment bank’s investment bank, said that while the policy has a certain impact on business development, it is not all.

After all, the M & A business is still a market-oriented transaction, and the main influencing factor is the change in market sentiment.

  China Securities Journal reporter learned from the director of a listed company that the company planned a short merger and acquisition project just recently approved, and also encountered a difficult situation midway through.

In particular, in order to pay the transaction price, the company’s actual controller will pledge the shares held by the company’s shares. After that, the secondary market continues to decline. The company is expected to go down one after another.The issue is under regulatory attention.

  However, there are also brokerage firms saying that there are obvious market improvement indicators. One of the important factors is that the commission rates of financial consultants are generally low.

“With cash transactions of less than 1 billion, the commission income is basically around 10 million. It may even happen, but the workload and difficulty have not decreased.

“Chen Yue revealed that the commission rate for the cash acquisition business has been reduced to about 1%. The high fees are for projects involving stock swaps and matching funds, because only financing fees can be involved.

  Zhu Bin, chief analyst of the new third board of Anxin Securities, said that in 2018, the completion of mergers and acquisitions of third board companies by listed companies reached US $ 30.8 billion, and cash payments became the mainstream method. The proportion of pure cash acquisitions was as high as 76%.

However, it is gratifying for the investment bank of the securities firm that according to Winddata, although the proportion of cash mergers and acquisitions in all mergers and acquisitions in 2018 is still 69%.

9%, but the proportion of shares issued to purchase assets increased slightly to 12.

3%, the proportion of “cash + equity” also rose slightly to 9.


  Zhu Haibin pointed out that since the second half of 2018, the CSRC has successively introduced a number of favorable policies for mergers and acquisitions and reorganizations to support the increase in mergers and acquisitions reorganization efforts and increase efficiency.

Stimulated by the M & A policy, the appropriate use of equity + cash acquisition methods by companies can greatly improve the efficiency of M & A if they can meet the requirements of “small fast”.

However, what needs to be noticed in 2019 is that the overall capital market environment is weak, followed by the accumulation of goodwill issues of listed companies, resulting in increased pressure on the M & A companies.

Changchun High-tech (000661) company comment: 2019 results pre-increased by 60% -80% than expected growth hormone unstoppable

Changchun High-tech (000661) company comment: 2019 results pre-increased by 60% -80% than expected growth hormone unstoppable
The 2019 results have increased by 60% -80% more than expected. The company’s announcement of 2019 results: Net profit attributable to shareholders of listed companies.10-18.1.2 billion US dollars, an annual increase of 60% -80%, exceeding market expectations. Performance results include: 1. Increase in the revenue of holding key pharmaceutical companies; 2. Increase in the income of real estate development projects; 3. Completed the Golden Race in November 2019Pharmaceutical Industry 29.The acquisition of 5% minority shareholders’ equity is subject to 99 since November 2019.Consolidated 5% shareholding ratio. It is expected that the growth performance of Jinsai Pharmaceutical in 2019 will be about 70%. The company’s overall performance growth is mainly driven by the strong growth of Jinsai Pharmaceutical.According to the company’s performance forecast, we predict that the core subsidiary Jinsai Pharmaceutical’s performance growth center will reach about 70%, growth hormone product sales continue to expand, Jinsai continues to expand the market of key varieties, standardize the scale of the sales system; cooperate with the market development of water injection varietiesIn order to improve the business development of the electronic pen as an independent product of the company, according to the company’s 2018 annual report, the company adhered to the differentiated market strategy to organize multiple promotional activities and large-scale meetings above the provincial level, continued to expand its marketing efforts, and the number of new pediatric patients increased significantly.The hospital’s progressive 杭州桑拿网 drug coverage has gradually increased, and we estimate that the new patients will continue to grow, and at the same time the overall duration of medication will increase. These gradually promote growth hormone and other factors to achieve sustained high growth and consolidate the leading position in the market.In 2018, the long-acting growth hormone products completed phase IV clinical research, which laid the foundation for subsequent heavy-duty mutations. The company’s long-acting + water injection + powder injection product echelon advantages continue to increase and we are optimistic about the continued high growth of growth hormone in 2020. The company’s research and development pipeline has great potential, and the growth hormone ceiling is expected to open further. The company is rich in research varieties. According 重庆耍耍网 to the company’s semi-annual report for 2019, more than 20 key research and development projects of the company are underway, of which growth hormone continues to expand its indications. Future trends continue to open the upper limit of growth hormone growth. In terms of 100 grams of biology, nasal spray vaccineProduction has been reported, and approval is expected in the first half of this year, which is expected to add momentum to the subsequent growth of the vaccine sector. We are optimistic about the company’s continued rapid development and maintain the “Buy” rating due to the company’s performance exceeding expectations, plus the completion of Jinsai Pharmaceutical 29.For the acquisition of 5% minority equity, we raised the company’s profit forecast, and the profit for 2019-2021 will be 13%.9/18.5/23.8 trillion is raised to 17.0/29.1/39.2 trillion, the company’s EPS is expected to be 8 in 2019-2021.41, 14.40, 19.39 yuan, corresponding to PE is 53, 31, 23 times.The company’s performance continues to grow rapidly, and the acquisition of the remaining equity of Jinsai Pharmaceutical is also expected to enhance the company’s core competitiveness and profitability. It is optimistic that the company will continue to develop rapidly as a leader in bioengineering pharmaceuticals, maintaining the company’s “Buy” rating. Risk warning: slow progress in bidding, long-acting growth hormone, recombinant human follicle stimulating hormone release rate is gradually expected