深圳桑拿网

[Can I eat eggplants for measles]_Urticaria_Dwarf_Can I eat

Eggplant is a very common ingredient in daily life. Eggplant has high nutritional value and is easily absorbed and used by the human body.

Many people in life increase their self-resistance by eating eggplants, but can people with acute measles eat eggplants?

Patients with acute measles can usually eat eggplant. The nutritional elements in eggplant are relatively high and are easily absorbed and accepted by everyone’s body, so there is nothing wrong with it, and eggplant is not easy to cause allergies, and it improves some elements of the body.To promote the promotion and lymphatic excretion, it is also effective for the body, so everyone needs to pay attention to it in the ordinary way, you can improve the elements of the body by eating eggplant.

There is also a method related to eggplants. The more common is potato stewed eggplants. Potatoes can be cut into large pieces like eggplants. Eggplants need to be cut into diced. Potatoes are relatively crispy. After completely covering the eggplant, you canOut of the pot, this potato stewed eggplant has a higher nutritional value and helps to be absorbed by everyone’s body. The main thing is soft and delicious, which is suitable for children and middle-aged and elderly friends.

In addition to being helpful for urticaria, eggplant is targeted at people with high blood pressure, and those with arteriosclerosis, including those with heart problems, can be relieved by eating eggplant. The first is eggplant, which can helpFor anti-aging, the most important thing is to reduce the plasma content. In normal times, everyone can also eat eggplant to protect their cardiovascular and cerebral blood vessels, which is beneficial to the body’s absorption.

The nutritional value of eggplant is obvious to everyone. In addition to being helpful to urticaria, eggplant can also fight aging. Many people are more worried about wrinkles on their skin, including some skin functions, which can be eaten by eggplant.Clean up the blood to achieve a healthy body and health effect, so everyone should pay attention to eating reasonable and nutritious things.

[Can gout eat walnuts]_Effect_Effect

Walnut is a very nutritious food. Its rich nucleotides can effectively help our body’s development, and at the same time can play a very important role in our brain development.

For people who often use the brain, eating more walnuts can effectively reduce brain stress.

However, due to the rich effect of walnuts, it may not be so superior for people with gout, which may cause adverse effects on patients.

Can gout eat walnuts? Gout can eat walnuts, peaches, and has a mild taste. It contains a variety of vitamins and fruit acids, and inorganic salts such as calcium and phosphorus.

Its iron content is 4 times that of apples and pears?
6 times.

Peach has the effect of nourishing qi and blood, nourishing yin and promoting fluid.

Peach has a high iron content and is an ideal supplementary food for patients with iron deficiency anemia.

Most people think that peaches have no special nutritional value, and call the ideal state without disputes or diseases as a paradise. However, the ancient Chinese thought that peaches had the effect of delaying hits, and regarded them as immortals.

Now, peaches are also used as a prescription.

Walnuts, also known as walnuts and citrons, belong to the family Jugaceae, with a spherical shape, a hard shell, a yellow-brown shell surface, and an irregular pattern.

Walnuts are naturally light and watery, and have strong cold and drought resistance and disease resistance. They do not require high soil fertility.

The imprint of walnuts is the same as that of cashews. They are found all over the world, mainly in Europe, America and Asia. The highest crops are in the United States and China.

In China, the famous producing places of walnuts are Xinjiang, Shaanxi, Shanxi and Yunnan.

Because of its excellent nutritional value, walnuts are also known as “four big dried fruits”, such as almonds, cashews, and hazelnuts.

Walnut kernels are rich in nutrients, containing 70-80 grams of protein per 100 grams, with very few traces, and 10 grams of impurities; and contain various trace elements and minerals such as calcium, phosphorus, iron and other essential nutrients, as well as carotene and nuclear yellow.And other vitamins.

The efficacy and role of walnuts There are some walnuts, also known as walnuts, which are walnut plants.

Walnut kernels are rich in nutrients and contain 15 protein per 100 grams?
20 grams, a trace amount of 60?
70 grams, 10 grams of impurities; and contains essential trace elements and minerals such as calcium, phosphorus, iron, as well as carotene, riboflavin and other vitamins.

The main component of the fat contained in walnuts is glyceryl linoleate, which not only does not increase blood pressure after eating, can reduce the absorption of cholesterol by injection, so it can be used as a tonic for patients with hypertension and arteriosclerosis.

In addition, these fat vitamins supply the needs in the brain.

The trace elements zinc and manganese contained in walnuts are important components of the pituitary gland, and regular eating is beneficial to the nutritional supplement of the brain, and has a brain-building effect.

Ancient Chinese people have long found that walnuts have a brain-building effect.

Li Shizhen said: Walnuts “cannify the kidneys and the brain, which is beneficial to wisdom.”

A few ancient people also invented many ways to eat walnuts. For example, 500 grams of walnuts were broken and shelled to remove kernels. Walnut kernels and rock sugar were mashed into walnut puree, and stored in a porcelain cylinder. Take two teaspoons at a time.Rush and drink.

It is said that a layer of white liquid flushed with water and then floating is the “walnut milk” with the strongest brain-enhancing effect.

Walnut is always the best brain-building food, and it is also a treatment for neurasthenia.

Elderly people with symptoms of dizziness, insomnia, palpitations, forgetfulness, loss of appetite, weak waist and knees, general weakness, etc., eat 1 each morning and evening?
2 walnut kernels can achieve nourishing treatment.

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[Energy of Welsh Onion]_Action_Efficacy

Welsh onion is a common ingredient in our lives. Some friends in the north consume it directly because of its unique fragrance and crispy texture.

The trace amount of large insects is actually not high, and about one hundred grams of green onions contains about 30 calories of transformation.

If you are a friend who is controlling weight, don’t actually have excessive taboos about green onions, because there is nothing to pay attention to when eating green onions.

The content of shallots (based on the 100 g edible portion) is 30 kcal (125 kJ).

The transition per 100 grams of shallots accounts for about 1% of the total absorption required by an average adult to maintain a healthy daily intake as recommended by the Chinese Nutrition Society.

Is it possible to lose weight by eating green onions? Due to the social pressure and other factors, people in modern society often add another annoyance to their work troubles-obesity.

For them, it is necessary to find a healthy and effective way to lose weight.

As a variety of vegetables with low health and green energy, shallots are naturally considered to be considered.

So, how many friends have to ask: can eating green onions reduce weight?

Green onions, also known as “scallions, shallots, four season onions, dishes”, are transformed into 30 kcal (100 g edible portion).

According to research by Mr. Masaru Suzuki of the University of Tsukuba in Japan, in addition to the spicy stimulating taste, the organic sulfur in the onion can stimulate the secretion of adrenaline and promote unfortunate decomposition.

Fat and thin are related to the number of aunts in the human volume. There are more aunts and less aunts.

After eating green onions, the body will consume more aunts when it gets hot.

Therefore, eat more green onions to lose weight and keep fit.

How to eat green onions for weight loss The following are the weight-loss dishes made with green onions as the main ingredients: 1. Raw materials of vinegar and pepper soup: two eggs, 4 grams of salt, 25 grams of vinegar, 50 grams of spring onion, 15 grams of coriander, 10 grams of peanut oil, and sesame oil10 grams, 5 grams of soy sauce, 2 grams of green onion and ginger, and 1500 grams of chicken soup.

Method ① Set the saucepan on the fire, add oil to heat, add the onion ginger, pepper noodles, and stir-fry the pepper flavor, then cook in the chicken soup, add soy sauce, salt, MSG.

After the soup is opened, remove the minced pepper noodles.

② Remove the shell, pour it into the soup pot, put the spring onion, lift the pot, drizzle with sesame oil, vinegar, and sprinkle with coriander.

2. Ingredients for spring onion egg soup: 2 eggs, 100 grams of spring onion, and oil 1.

5 grams, soy sauce 10 grams, salt 1 gram, pepper 1 gram, MSG 0.

5 grams, clear broth.

Method ① Beat the eggs in a bowl and stir, chop the green onion into pieces. ② Put the oil in the pot and heat it to 60%. Add the soup and salt. When the soup is opened, pour the liquid eggs into the bowl and manually scoop the bottom.Push, add soy sauce, monosodium glutamate, boil the pot, sprinkle with green onion, pepper.

3. Ingredients for quail stew with scallions: 500 grams of quail, 2 scallions, 2 pieces of ginger, 2 grams of salt, 25 grams of cooking wine, and 1 gram of pepper.

Method ① To force the quail to death, first pull out the body hair, and then remove the soaked in a hot water container at about 60 ° C. When the foot hair can be pulled out, remove it, remove the fine hair, rinse the remaining hair with water, and thenCut the back of the quail with a knife, remove the internal organs, wash, drain, wash the ginger, cut into slices, and cut the onions into a knot.

② Put the quail in a large soup bowl, add ginger slices, scallion knots, seasoning wine, add 500 grams of water, cover the bowl with plastic wrap, steam in a basket over high heat for 50 minutes, and remove the quail when it is cooked.

Remove the plastic wrap, remove the ginger slices, scallion, add salt, sprinkle with pepper, and serve.

[Does eating steamed sweet potatoes make you fat?]

Babies who like to eat sweets should pay attention to it. Everyone is often worried about whether steamed sweet potatoes will be fat. Most people think that steamed sweet potatoes are also one of the big sweets, so will eating steamed sweet potatoes make you fat?

Although sweet potato is one of the vegetables, people who often like to eat sweet potato will treat it as a kind of fruit or a snack. Sweet potato is sweet and delicate, and chewing in the mouth will make people have an endless aftertaste.

Let ‘s take a look at the problems that need to be noticed when eating sweet potatoes and the impact of sweet potatoes on the body.

According to scientific research, eating sweet potatoes does not make people fat, on the contrary sweet potatoes are also an ideal weight loss food.

Its trace amount is very low, and its concentration is lower than that of ordinary rice, so you don’t have to worry about getting fat after eating, but you can take weight loss.

Sweet potatoes also contain a substance similar to estrogen, which has a certain effect on protecting human skin and delaying aging.

Therefore, many foreign women regard sweet potatoes as beauty foods.

Sweet potatoes are crunchy and sweet and can replace fruits; cooked foods are soft and sweet in your mouth and sweet in your heart.

It can be used both as a staple food and as a vegetable.

Steamed, boiled, fried, fried, and eaten in many ways, once skillfully cooked, can also become a meal on the table.

The efficacy and role of sweet potatoes1.

Sweet potatoes are good for the heart 2.

Sweet potatoes have anti-diabetic effects3.

Sweet potatoes are long-lived foods. To eat sweet potatoes, pay attention to science one. It is best to eat them at noon, and it is better to break them down during the day. It is best to eat sweet potatoes at noon because after eating sweet potatoes, it takes 4-5 hours for absorption in the human body.

At the same time, the sunlight in the afternoon can promote the absorption of calcium.

Eat sweet potatoes at night, the sugar content is too much, the body can not absorb for a while, easy to bulge.

Second, do not eat sweet potatoes with sweets. Sweet potatoes cannot be eaten together because sweet potatoes are sweet. If you add sweets together, you will increase the possibility of gastroesophageal reflux.

Third, do not eat steamed sweet potatoes with skin, hot and sweet, sweet and delicious, and some steamed overflowing “sugar oil.”

The sweet potato skin is very popular, and it is welcomed by many people. Many people eat it with skin.

However, experts point out that it is best not to eat steamed sweet potatoes even with skin. Sweet potatoes contaminated with black spot bacteria are not easy to distinguish after roasting, so do not eat sweet potatoes with black spots or burnt, which may cause poisoning.

At the same time, although most of the steamed sweet potatoes on the streets have been replaced by steam boxes, too many are made from coal sintering. When coal is burned, it will produce a lot of harmful substances such as sulfur dioxide, which is bad for health.
Fourth, fasting is not suitable for eating sweet potatoes. Due to the high sugar content of sweet potatoes, eating fasting will produce a large amount of gastric acid. When too much acid will stimulate the gastric mucosa and cause acid return, it will make people feel heartburn.

At the same time, sweet potatoes also contain an oxidase, which can produce a large amount of carbon dioxide gas in the hot road, which easily causes symptoms such as bloating and snoring.

It should be noted that, because it is not appropriate to eat too many sweet potatoes at one time, the method of eating sweet potatoes is also very particular about it.

First of all, eating sweet potatoes raw is not good because the cell membrane of starch in raw sweet potatoes has not been destroyed by high temperature and it is difficult to digest in the human body.

In essence, sweet potatoes should not be eaten alone.

You can mix sweet potatoes with rice noodles and control the amount of food once. Second, when eating sweet potatoes, use some pickles and salty soup to neutralize. In addition, you can soak raw sweet potatoes with a small amount of alum solution and iodine solution, and then process themVarious cooked food.

Guoxing Optoelectronics (002449) Incident Review: State-owned Assets Introduces Equity Incentives for the First Time to Stimulate Internal Power

The history of the first equity incentive plan, and the company announced the share incentive plan on December 4th, the proposed 11 internal executives of the chairman and 190 middle and core 武汉夜生活网 backbone incentive objects such as a total of no more than 6.18 million shares, accounting for about the company at the time of the announcement1% of share capital; grant price is cap.

73 yuan, about 55% of the average price of the first 20 trading days, the incentive range corresponding to the award price performed better.

Assessment requirements 2020?
2022 net profit is not less than 4.

47/5.

10/5.

74 million USD incentive plan evaluation year is 2020?
In 2022, the sales restriction will be lifted one by one in accordance with the assessment requirements, and the corresponding proportions of lifting the sales restriction will be 40% / 30% / 30%, respectively.

The assessment requirements are mainly in 2020?
In 2022, the return on net assets will be no less than 11% / 11.

5% / 12%; net profit at 2016?
2018 average (about 3.

1.9 billion) as the base, corresponding to no more than 40% / 60% / 80%, which corresponds to 2020?
2022 net profit is not less than 4.

47/5.

10/5.

$ 7.4 billion, corresponding to a compound annual growth rate of approximately 10% in net profit?
14%.

Q3 has improved significantly from the previous month, and profitability has bottomed out. The company’s profitability improved significantly in Q3 in 19. Although revenue and profits will continue to increase, revenue in the third quarter alone increased by 35% and net profit increased by 26%.

The quarter-on-quarter growth was mainly due to the gradual release of newly-added small-pitch capacity this year, driving the company’s profitability.

At the same time, the LED chip business will meet the trend of marginal improvement in the future, so the company’s overall profitability promotes bottoming out.

The bottom of the industry has been reversed, and new demand for MiniLED has been launched, giving “buy” rating companies the expansion of technical capabilities in high-end LED products such as Mini LED and a solid brand position.

It is expected that the launch of MiniLED terminal products will be promoted by Apple and Huawei next year, which is expected to drive the MiniLED trend.

The company’s launch of equity incentives at this time will help bind core stakeholders and further strengthen the company’s performance.
Net profit attributable to mothers in 2020 is 4.

61/5.

61/6.

780,000 yuan, profit growth rate is 3.

5% / 22% / 21%, corresponding to 13 times PE in 2020

At present, the company is expected to be in the bottom area since listing. The company’s long-term operating ability is stable, and the ROE is maintained at more than 10%.

After Guangdong Guangsheng Assets entered the company, the company’s resource endowment capacity has been enhanced, and it is expected to become larger and stronger in the future, maintaining a “Buy” rating.

Risk warning LED display industry demand is less than expected

Blond hair technology (600143) 2019 third quarterly report review: multi-point flowering beautiful performance
In the third quarter, the company’s main business was beautiful and the new materials business was progressing smoothly, especially in the fields of biodegradable plastics and LCP. The company’s single-quarter performance exceeded market expectations under multiple factors.We believe that with the steady development of the new materials business, the company’s performance will maintain a rapid growth trend for a long time, and we are optimistic that the company’s view will remain unchanged. The main business is beautiful, Haiyue consolidated, and the third quarter results have increased significantly.The company disclosed the third quarter report for 2019, and Q1-3 realized revenue and net profit attributable to mothers 203 respectively.76 and 9.4.4 billion, an increase of 9 each year.85% and 44.34%.Among them, Q3 achieved revenue and net profit attributable to its mother of 80 in a single quarter.34 and 4.3.5 billion, an increase of 21 each year.88% and 43.twenty four%.Excluding Ningbo Haiyue’s consolidation factors, the company’s performance mainly benefited 南京夜网论坛 from the following aspects: 1) the price of modified plastic raw materials fell, and the company’s cost side improved; 2) the demand for fully biodegradable plastics was strong, and the additional production capacity was completely absorbed by the market; 3) LCP product sales have increased significantly. Steady volume of new materials and more blossoms are expected to help performance growth.The company’s new and new products are in the stage of continuously expanding application scenarios.Among them, 1) Biodegradable plastics benefit from internal plastic ban, market demand is rapidly expanding, and the distribution of new business capacity is quickly absorbed by the market; 2) LCP can replace hygroscopicity, and the dielectric constant and dielectric loss are reducedAdvantages such as low frequency fluctuations have become mainstream materials for 5G antennas; 3) PA101 and PA6T (energy transmission to production at the end of 2019) and other good high strength, high temperature resistance and other properties make a wide range of aviation possible aerospace and military industries.In the process of rapidly cultivating the average value of the above-mentioned new materials, we are optimistic that the company will use its first layout to achieve rapid growth in performance while maintaining its leading position in the new materials field. Deploy hydrogen energy to improve resource utilization efficiency.Democracy, the company’s subsidiary Ningbo Jinfa and Zhejiang Energy Group’s Millennium Hydrogen Energy Comprehensive Utilization Strategic Cooperation Framework Agreement.Ningbo Jinfa will take advantage of its industrial by-product hydrogen production (60% PDH unit, expected to reach 2).5 minimum exchange rate / annual hydrogen supply capacity), to provide protection for the hydrogen energy supply of Zhejiang Energy Group, and at the same time will give full play to the advantages of its provincial energy company’s entire industrial chain, relying on the construction of comprehensive energy supply stations, the layout covers the province’s hydrogen energy supplyThe internet.At the moment of the rapid development of hydrogen energy, the layout brings new growth opportunities for the company. Risk factors: 1) The price of raw materials fluctuates significantly; 2) The international market expansion is less than expected. Investment suggestion: We believe that with the steady development of new materials business, the company’s performance will maintain a rapid growth trend for a long time, and we are strongly optimistic that the company’s growth perspective remains unchanged.Maintain the company’s EPS forecasts for 2019-21 to 0.33/0.38/0.45 yuan, maintaining a target price of 9.3 yuan (corresponding to 25 times PE in 2020) and “Buy” rating.

Zhejiang Meida (002677): Company Performance Continues High Growth Channel Marketing Layout Increased

Event: The company released its semi-annual report for 2019 and realized operating income in 2019H17.

40,000 yuan, an increase of 25 in ten years.

24%, net profit attributable to mother 1.

82 ppm, an increase of 25 in ten years.

04%; of which, Q2 income is 4.

1.5 billion, an annual increase of 21.

14%, net profit attributable to mother 1.

07 million yuan, an increase of 27 in ten years.

20%.

Revenue has maintained a high growth, and channels have continued to expand. From the perspective of the industry, due to the impact of the real estate post-cycle, the performance of the traditional smoke stove market is relatively weak, while the performance of integrated stoves is very different.

The company has a solid leadership position in the integrated stove industry, and its revenue has maintained a high double-digit growth.

In terms of channels, the company continues to increase the integration and optimization of existing dealers, encourages the establishment of new stores, and invites investment in blank areas such as first and second tiers, and further 北京夜网 expands the coverage of existing terminals. In the first half of the year, 70 first-tier dealers have been added, 300 terminal stores.

At the same time, it actively promotes the construction of emerging channels such as KA, e-commerce, engineering, etc., establishes diversified marketing channels, and finds new growth points for the company.

The gross profit margin improved significantly, and active marketing consolidated the brand positioning company’s gross profit margin in 19H1 and net profit margin of 53.

47% and 25.

88%, +2 each year.

27, -0.

04 points.

In addition, the company’s 1.1 million integrated cooking stoves and high-end kitchen appliances smart production base are expected to be put into trial production in September. The future output will increase productivity and the effect of scale effects, 武汉夜网论坛 and the gross profit margin will increase further.

From the perspective of expenses, the company’s sales, management, R & D, and financial expense ratios are +5 every 19H1.

09, -2.

78, +0.

72, -0.

25 points.

From the perspective of the specific sub-sectors of sales expenses, the increase in advertising expenses is mainly due to the company’s efforts to promote the brand. It has not only placed advertisements on various traditional channels such as CCTV, high-speed rail, and home appliance exhibitions, but also increased its exposure to new media.Sponsorship.

The cash flow was in good condition, and the accounts receivable increased to the point of view of the balance sheet. At the end of 19H1, cash + other current assets was 5.

98 ppm, with a ten-year average of 13.

35%.

From the perspective of revenue budget, accounts receivable + notes 0.

46 trillion, ten years +109.

09%, mainly due to the rapid development of the company’s e-commerce platform, the platform’s settlement cycle has been extended, and potential distributors are given credit support.

In terms of turnover, the turnover days of inventory and accounts receivable at the end of the 19H1 period were 39.

17 and 7.

17 days, up 2 from the beginning of the period.

65, 4.

17 days.

From the cash flow statement, the net cash flow from operating activities in 19H1 was 1.

7.5 billion, an increase of 21 a year.53%, cash inflows from sales of goods and services8.

00 ppm, an increase of 15 per year.

44%, basically matching the growth rate of income.

Investment suggestion: As a leader in the integrated stove industry, the company, while enjoying industry penetration and increasing dividends, actively promotes marketing, enhances brand awareness, vigorously develops diversified channels, enters first- and second-tier cities, improves product structure, broadens product matrix, and achievesKeep growing fast.

According to the 2019 Interim Report, we expect the company’s net profit for 2019-2021 to be 4 respectively.

59, 5.

52, 6.

51 trillion yards (previous value was 4.

54 and 5.

41, 6.

3.5 billion), corresponding to a dynamic PE of 18.

3x, 15.

2x and 12.

9x, maintain “overweight” investment rating.

Risk warning: the risk of fluctuations in the price of raw materials; the cut-in of kitchen appliances leading to the field of integrated stoves brings the risk of intensifying competition;

Supor (002032): Domestic sales growth initially dragged down revenue performance generally in line with expectations
[Event]The company announced the 2019 semi-annual results notice.2019H1 company is expected to achieve operating income of 98.$ 3.6 billion, an annual increase of 11.15%; net profit attributable to mother 8.38 ppm, an increase of 13 in ten years.35%; EPS is 1.025 yuan, an annual increase of 13.38%.The company is expected to achieve operating income of 43 in the second quarter of 2019.6.2 billion, an increase of 10 in ten years.96%; net profit attributable to mothers3.23 ppm, an increase of 12 in ten years.54%, basically in line with expectations. [Comment]Domestic e-commerce may be under pressure, and export sales will support steady growth in the second half of the year.In 2019H1, the company’s revenue growth rate was 11.15%, an improvement over the same period of last year. At least the same period of 18 years has been the highest growth rate. Under the high base pressure, revenue growth has fallen to a reasonable range, replacing the overall pressure of small appliances in the first half of the year. According to Aowei data, the scale of small appliances in 2019H1Ten years of growth is only 2.7%, especially the intensified online price competition has led to an improvement in the growth rate of e-commerce revenue, which has a certain impact on domestic sales revenue.In terms of export, according to the Democratic Announcement, the company expects that the amount of related transactions with SEB in 2019 will be 52.3.4 billion, an annual increase of 12.9%, with the export season expected in the second half of the year, export sales are expected to continue to 佛山桑拿网 grow steadily. Significant cost reduction and efficiency gains, and profitability improved.In 2019H1, the company realized a total profit of 10.9.7 billion, an annual increase of 16.58%, profit growth rate is higher than income growth rate, mainly due to the report performance company reorganization cost reduction and efficiency measures, significant benefits: to deal with the company’s 2019H1 period cost control properly, sales expenses rate and management expense rate decreased by 0.57/0.23pct; reduce the company’s capital utilization efficiency to further improve, report the overall overall capital investment of the year to finally achieve a higher return, it is expected that the investment income in the first half of the year will have a conflicting contribution to the overall profit. The adjustment of the subsidiary’s tax rate affects the growth rate of net profit attributable to the parent.In 2019H1, the company’s net profit attributable to its mother increased by 13 in ten years.35% is slightly lower than the maximum profit growth rate, mainly due to changes in the company’s corporate income tax rate caused by the current period’s income and expenses increased, but still led to income growth. We believe that in the second half of the year, the company will continue to benefit from reduced tax rates and lower raw material price dividends. After the acceptance of high-end brands, more company brand matrices will be added. Benefiting from the higher proportion of high-margin products, the product structure will be further optimized.Come and contribute.Based on the above judgments, we increase the company’s revenue and profit in 2019 and 2020, and it is expected that the company’s operating income for 2019/2020/2021 will be 203 respectively.68/234.06/269.2.8 billion yuan, net profit attributable to mothers was 19.83/23.27/27.3.7 billion, with EPS of 2.42/2.85/3.US $ 3.3 billion, corresponding to PE 29 / 24/21 times, maintaining the “overweight” rating. [Risk Warning]Raw material price fluctuations; RMB exchange rate fluctuations; export orders are growing less than expected.

Great Wall Motor (601633): Semi-annual results in line with expectations Bicycle profits steadily recover
Event: The company announced the 2019 semi-annual performance forecast, and it is expected to achieve revenue of 413 in the first half of 2019.800 million US dollars, an average of 15% in ten years, net profit attributable to mother 15.30,000 yuan, deducting non-attributed net profit of 12.400 million yuan.Among them, the second quarter is expected to achieve revenue of 187.500 million US dollars, an average of 15% over a ten-year period, and achieved net profit attributable to mothers7.60,000 yuan, deducting non-attributed net profit6.0 million yuan, respectively, a slight decrease from the previous quarter.　　Sales volume has maintained steady growth, and the value of bicycles has increased sequentially.The company’s sales in the first half of 2019 were 49.40,000 vehicles, an increase of 4 per year.7%, of which sales reached 21 in the second quarter.0 million vehicles, at least 2% a year, and the sales performance significantly accompanies the industry.The value of bicycles in the first half of 2019 was 8.40,000 yuan / vehicle, slightly more than the same period of the previous year, indicating that the bicycle segment and a higher share of WEY brand sales.The value of bicycles in the second quarter was 8.90,000 yuan / vehicle, 8 in the first quarter.The value of bicycles of 100,000 yuan per vehicle has increased significantly, leading the increase in F7 sales.　　The profit of bicycles has steadily recovered, and the sales target has been lowered to continue the development.In the first half of 2019, the company’s bicycle profit was zero.310,000 yuan / vehicle, operating bicycle profit is 0.250,000 yuan / car.Among them, the profit of bicycles in the second quarter was zero.360,000 yuan / vehicle, operating profit is 0.280,000 yuan / vehicles, respectively, an increase of 0 from the first quarter.0.9 million yuan and 0.50,000 yuan, considering that in June the company increased terminal sales for the inventory of going to China Five, the actual bicycle profit recovery situation exceeded expectations.According to our terminal research, the 7-month Great Wall terminal discount is fully recovered, and it is expected that bicycle profits will continue to pick up in the third quarter.In fact, based on the sales volume in the first half of the year, the company lowered its overall sales target from 1.2 million to 1.07 million, which is conducive to subsequent sustainable development.　　Operational improvement has been progressing steadily, and the three-year upward cycle is optimistic.We judge 2019?In 2021, the company’s sales composite advantage will be 14.8%, significantly profitable industry.Mainly based on the following reasons: 1. The large single product has changed to multiple lines and ushered in the new product cycle, and the product competitiveness has continued to increase. At present, four traditional car lines, M, H, F, and WEY, are formed, of which the F series has outstanding sales performance after listing; 2The technical reserve supports the differentiated layout, and the company’s national engine reserves are complete, helping the company’s products to complete the smooth switch from national five to national six.At the same time, the new platform will be launched at the end of 2019 to provide consumers with more rich motivation options; 3. Continuous marketing improvement: starting from 2018, gradually dating marketing talents to replace the company’s shortcomings in marketing.　　Earnings forecasts and investment advice.The company’s EPS for 2019-2021 is expected to be 0.61/0.75/0.93 yuan, the composite performance of the next three years is 17.8%, maintain “Buy” rating.　　Risk reminder: macroeconomic downturn, the automobile industry’s production and sales are less than expected, and the slow 杭州桑拿 progress of new car listing and other risks.