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[Do you get fat if you eat too much protein]

It’s very easy to get back to the country and back to the country.
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[Homemade practice of steamed pork belly]_Steamed pork belly_How to do_How to do

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Annual report series of special analysis of TMT company (7): China UCAR (838006): Net profit turned to profit and China Shenzhou-Baowo Automobile new retail platform officially launched

Annual report series of special analysis of TMT company (7): China UCAR (838006): Net profit turned to profit and China Shenzhou-Baowo Automobile new retail platform officially launched

Event: The company released its 2018 annual report and achieved operating income of 59.

4.9 billion yuan; net profit attributable to mothers2.

70 million, turned losses into profits, an increase of 203 in ten years.

31%.

Preliminary results of the company’s performance growth in 2018: (1) the company’s various businesses have developed well, operating efficiency has gradually improved, and the special car business continued 杭州夜网 its profitability trend since last year; (2) the sales of the car and car business have improved compared to the previous year, and the sales methodThe adjustment and optimization are expected to gradually narrow; (3) The performance of the car flash loan business has grown significantly, and has contributed expected profits to the company.

(Company annual report) B2C and C2C special car models complement each other to create China’s largest car and travel sharing platform: Facing the huge and fast-growing special car market, the company will play a role in the strongest policy compliance and clear profit model.Leading advantages in the B2C special car field, further improving the scale and efficiency of the special car business. By continuously providing customers with safe, reliable, high-quality services, deepening brand influence, and realizing a virtuous circle of its own profit model, in order to maintain its absolute leadership in the B2C field.

At the same time, the company will continue to open and open the excellent driving and open platform to carry out C2C model business, while diversifying the B2C model business, change the existing competitive landscape.

The B2C model and the C2C model complement each other and complement each other. The company is expected to achieve a comprehensive leading position in the field of automobile travel sharing.

The company has basically built a human-vehicle ecosystem that covers the entire automotive industry chain. In the future, the company will make full use of industry resource accumulation and synergies to further develop other businesses in the automotive industry chain.

(Company Annual Report) The gross profit margin of the special car service business has increased, the flash loan business has developed rapidly, and the operation management has been improved: the special car service income in 2018 was 34.

61 trillion, down 38 a year.

93% gross profit margin from 12 in 2017.

61% rose to 21 in 2018.

26%; Flash loan services and other income in 2018 was 11.

950,000 yuan, an increase of 64 from 2017.

69%; revenue ratio is 20.

08%, an increase of 12 over 2017.

The gross profit margin was 72% from 16 in 2017.

41% rose to 71 in 2018.

72%.

With the promulgation of the policy of the online ride-hailing industry and the continuous strengthening of regulatory measures, the company has actively improved the operation and management of the private car business and gradually cleared out non-compliant vehicles and drivers. Due to this, the private car business income has declined, but at the same timeWith the improvement of operating efficiency and the accumulation of industry resources, the scale effect has gradually improved and the gross profit margin has been significantly improved; the Shenzhou car flash loan business channel has continued to sink and penetrate, and its performance has increased significantly, contributing more profits to the company.

(Company Annual Report) The revenue of the car buying business has declined, the scale has been shrinking, and the sales model has been adjusted and optimized: the revenue of the car buying business in 2018 was 12.

93 trillion, down 62 a year.

66% of net defects were up from 1 in 2017.

1.5 billion to 0 in 2018.

67 ppm, with a revenue share of 21.

74%, a decrease of 13 from 2017.

41%.

In 2018, the company continued to adjust and optimize the sales model of the Shenzhou car buying business. The company gradually shifted from underwriting to consignment sales, and comprehensively promoted the new retail strategy of Shenzhou Baowo Automobile, so that the profit model was further clear. At the same time, the sales volume of the car buying business was slightly higher than the previous yearAs inventory increases, inventory decreases and gradually narrows.

(Company Annual Report) Rapid intelligent network connection and new energy vehicle layout to promote platform interconnection: In March 2018, the company acquired 29% of China Car Rental in cash, becoming its largest shareholder, deepening cooperation and jointly building China’s largest integrated car.Sharing and travel sharing platform; In April 2018, the company joined the National Automotive Standardization Technical Committee Intelligent Connected Vehicle Sub-Technical Committee and became the only member unit of the China Smart City Industry and Technology Innovation Strategic Alliance in the travel field;Signed strategic cooperation agreements with Putian New Energy, State Grid Electric Vehicle Company, Special Call, and Wanbang New Energy, further accelerating the company’s layout of new energy vehicles. In August 2018, the company reached a strategic cooperation with Baidu to accelerate the development of China Optimus.The intelligent layout of vehicles will jointly create a new business ecology of intelligent network connection and autonomous driving.

(Company Annual Report) Jointly released a new strategy with Beijing Baowo to officially launch the “Shenzhou-Baowo Automobile New Retail Platform”: In January 2019, the company and Beijing Baowo Automobile Co., Ltd. formally launched the “Shenzhou-Baowo Automobile New Retail Platform””” Through the transformation of the industrial chain and platform empowerment, we have achieved a complete separation of production and sales, reshaped channels, reorganized automobile consumption, and redefined new automobile retail.

Relying on its established domestic leading car sharing service system and new car retail service platform, the company will achieve comprehensive and in-depth strategic cooperation with Beijing Baowo in the fields of automobile manufacturing, vehicle procurement and fleet operation, sales system expansion and joint marketing.Exploit the “new auto retail” model, give full play to the advantages of common resources, and achieve common development.

Through the new strategic cooperation with Beijing Bao Wo, the company expanded its business scope and business scale, while reducing the company’s procurement costs and overall operating costs, further improving profitability, improving the company’s automotive industry chain layout, and enhancing overall market competitiveness.

(Company Annual Report) Investment suggestion: The company will become the leader in online ride-hailing service providers in China that fully meets the new ride-hailing regulatory standards of the online ride-hailing industry and has a clear profit model. The current city size is 45.2 billion.

Risk warning: profit fluctuation risk, policy risk in the ride-hailing industry, and customer default risk.

Huafa (600325): Management mode continues to improve sales and maintains high growth

Huafa (600325): Management mode continues to improve sales and maintains high growth

Regardless of the full caliber or equity caliber, the company’s commercial housing sales maintained a high growth rate, and the industry ranking continued to rise.

According to Kerer data, from a full-caliber perspective, in the first half of 2019, the company achieved an initial 436 of commercial housing.

700 million, the market ranking rose to 38.

From the perspective of equity, in the first half of 2019, the company realized 279 such as commercial housing.

2 trillion, the market ranking rose to 41.

Regarding the full-caliber scheduled growth rate, in the first half of 2019, the company’s commercial housing bookings will gradually increase by 80.

1%.

Regarding the growth rate of the equity caliber reform, in the first half of 2019, the company’s commercial housing re-transition increased by 39.

3%.

The company has ample land reserves, mainly concentrated in Zhuhai, and has continued its nationwide distribution.

According to the “Report on Real Estate Reserves” and “Report and Real Estate Development Investment” in the company’s 2018 annual report, as of the end of 2018, the company reported a total of “planned building area under project planning” in real estate development investment.The equity values of “Planned Capacity Area” and “First-class Land Consolidation Area” in the report are 871.

09 million flats, 571.

650,000 peace and 35.

700,000 square meters, the total equity of the above development projects totaled 1478.

43 million flats.

Among them, the equity construction area of Zhuhai in the above real estate development investment is up to 243.

04, 000 square meters, the real estate reserves in the Zhuhai area of equity up to 114.

920 thousand flats.

The initial long-term credit rating of the company’s shareholders was raised to 3A, and the overall financing cost was generally lower.

According to the company’s “Tracking Rating Report 2019” in June 2019, on May 31, 2019, the company’s shareholders’ long-term credit rating has been upgraded to 3A, and the rating outlook is “stable”.

At the end of 2018 and the end of the first quarter of 2019, the company’s asset-liability ratio was 82.

3% and 82.

7%, and the asset-liability ratio after excluding advance receipts were 60.

9% and 61.

0%.

From 2014 to 2018, the company’s overall financing costs ranged from 9.

55% shock down to 5.

87%.

The company’s management improved, and its incentive system was pragmatic and diverse.

According to the company’s 2018 annual report disclosure: the company started from two types of long-term incentives and special incentives, to further improve the long-term incentive mechanism with the emphasis on the implementation of the stock incentive plan and the project follow-up investment mechanism; and the company continued to optimize the special assessment and incentive mechanismAnd plans, build a performance management index database, and implement the board incentive funds, investment extension, sales, and other special incentive programs.

Investment Advice.

Zhuhai state-owned enterprise reform target, the fundamentals continue to improve, “continuous market” rating.

The company is the only real estate operation platform of Huafa Group. Based on Zhuhai, the company’s real estate business has gradually expanded to nearly 30 major cities across the country.

According to the company’s 2018 annual report, the company has now formed a “1 + 3” business development pattern that focuses on residential development, commercial real estate, long-term rental housing, construction industrialization and residential supporting industries.

We expect that the company will achieve an EPS of 1, respectively, from 2019 to 2020.

26 yuan and 1.

5杭州桑拿9 yuan.

The company RNAV is 21.77 yuan / share.

Taking into account the company’s potential beneficiary group reform of state-owned enterprises, and the incentive mechanism is gradually in place, we take 0.

50 times of RNAV and 11 times of dynamic PE in 2019 as the company’s target price in the next six months, the corresponding reasonable value range is 10.

89 yuan-13.

86 yuan, maintaining the company’s “primary market” rating.

Risk Warning: The company faces interest rate hikes and policy risks, as well as the risk of unsuccessful development project concentration and transformation.

Risk warning: The company faces the risk of interest rate hikes and policy restrictions, as well as the risk of unsuccessful development project concentration and transformation.

Sunlord Electronics (002138): Domestic Inductor Leaders Benefit from 5G Dividend Auto Electronics Enters Harvest Period

Sunlord Electronics (002138): Domestic Inductor Leaders Benefit from 5G Dividend Auto Electronics Enters Harvest Period
Key points of investment: The market for inductors has grown steadily, the structure is stable, and there is ample room for domestic substitution.Inductance is the second largest passive component, accounting for about 14%, and is mainly used for power conversion, filtering, and signal processing.Mobile communication is the largest downstream market for inductors, accounting for about 55% of the total. The value of inductors for medical aviation, automotive, and industrial applications is high.In 18 years, the global inductor market size was US $ 3.7 billion, with the Asia-Pacific region being the largest market.It is expected to reach $ 5.2 billion in 2026.The top three Japanese companies in the global inductor market share are expected to account for over 40% of the total. Sunlord Electronics also belongs to the first echelon, and has ranked third in the world in the field of chip inductors.The stable competition pattern stems from the high barriers in the industry, reflected in scale, technology and customer certification, among which the technical difficulty lies in material formulation and process. The price and price of 5G-driven RF inductors are rising.With the increase in the use of radio frequency devices in 5G mobile phones, it will also lead to the increase in the use of mobile phone stand-alone inductors.At the same time, in response to the integration of the RF 杭州桑拿 front-end, the miniaturization trend of the inductor continues to advance.The current mainstream inductance of mobile phones is mainly 0201, accounting for about 50-60%, and will gradually be introduced to 01005.01005 Inductor adopts the yellow light development process, which has a resonance difference in the process compared with the previous laminated inductor, so the value is significantly improved.After preliminary calculations, under the effect of rising volume and price, the conservative estimate of the value of a single machine inductor is about 30% -50%.Under optimistic estimates, the stand-alone increment range is about 40% -100%. Sunlord is the leader in domestic inductors and technology is its core competitiveness. It has only 01005 inductors in mass production capacity worldwide.Sunlord Electronics was established in 2000 and has been in the field of inductors for nearly 20 years.Continued steady growth, with a CAGR of 21-2009.9%, net profit CAGR reached 22.9%.Cash flow and net profit are highly matched, and debt ratios remain low.In 2017, Sunlord officially realized the mass production of the ultra-small 01005 high-Q-value laminated chip RF inductor HQ0402H, which is the second company with mass production capacity in the world, following Murata.Sunlord’s 01005 inductor Q-value characteristics in some specifications should be aligned with Murata. Applying technological competition on high-end miniaturized inductors will fully benefit from the industry development bonus promoted by this round of 5G. The company’s comprehensive gross margin is at the forefront of its peers, historically second only to Murata, and it also reflects the technical competitiveness of its products from the side. At the same time, the structural optimization, gross profit margin and upward space brought by the volume of future high-end products will be converted. There is plenty of room for improvement in the share of domestic customers.Domestic customers represented by HOMV mainly made purchases from Murata and TDK. The company’s time in the supply chain still exists, and its current share is still there.Xiaomi has only been available since 17 years, and VIVO and OPPO have only just entered in 18 years. The order requires a gradual volume process.In the current external environment, passive components also have autonomous and controllable requirements.Domestic terminal manufacturers have enough expectations to use domestically produced components, and Sunlord has international competitiveness in terms of technology and capacity scale. We have determined that after a certain period of supply verification period, its investment in domestic terminal customers has increased significantly., Open the space for incremental growth. Automotive electronics has precipitated for many years and has entered the harvest period.In the first half of 2019, automotive electronics business revenue increased by 429 per year.97%, began to enter the volume phase.The core barriers to automotive electronics are high reliability requirements and long certification cycles.After decades of hard work, the company has gradually become the official supplier of Bosch, Valeo, Denso, Tesla and other first-tier customers, and incremental customers have been cashed in. CATL and Koboda have added new customers in 19Q2.The company’s key breakthrough product is a transformer for a parking sensor solution.More new categories will be launched later.The supply chain of automotive electronics is stable, the order cycle is extended, and product iterations.Therefore, the continuous heavy volume of orders will open the second growth pole for the company’s long-term stable growth. Multi-product line development long-term growth engine.Sunlord expands its wide product line horizontally based on its core winding and sintering.Wireless charging, LTCC dielectric filters, and ceramic back covers are all future trends and have ample room for growth.The company has carried out a gradual technological reserve and capacity layout, and is expected to cash in on existing revenue and profits in the future. We raise our profit forecasts for 20 and 21 years and maintain our overweight rating.Due to the impact of the external environment in 2019, the 19-year return to net profit for mothers was slightly revised down from 5.1.6 billion to 4.8.7 billion, considering the future automotive electronics business volume and 5G to promote the inductor industry dividend, raise the 20/21 return to mother net profit forecast by 5.97/7.22 to 6.35/8.5.7 billion.Comparable companies have an average PE of 33 times in 2019. Considering that Sunlord is the only company in the world with the 01005 inductor mass production capacity, it will fully benefit from the dividends brought by 5G. At the same time, new products have begun to enter the heavy harvest phase.Actually, the period of underestimation of performance will return to the high growth channel from 2020.Give 19 years 43X PE, give overweight rating. Risk Warning; Smaller-sized Inductors Advance Less Than Expected; New Product Line Expansion Exceeds Expectations

Soft and thin waist

Soft and thin waist

How to maintain body balance during the movement?

  Pilates all the exercises, the concept of the Dublin Center.

Whether it’s right, sitting or lying, the center of your body is the key to your balance.

The central part of the body includes the waist, abdomen, waist, and chest.

Use your center correctly in your practice and use its power.

For example, in order to stabilize the upper body when doing “side kick”, you can imagine a bowl of water on the statue and pelvis. All you have to do is ensure that the water will not spill.

  Soft waist practice group 1: Spin-wing saw action points: combined with the “curve forward” and twisting action.

  Action effect: special contraction and soft waist and oblique muscles.

Stretch the muscles and ligaments behind the legs, remove turbidity from the body, enhance blood circulation, and soften and control.

  Action: Sitting on the mat 90 degrees straight, keeping the upper body contracted and stable.

The waist consciously tightens the lift.

Horizontal on both sides, shoulders.

Double toe pointed ceiling.

  Inhale, keep the upper body tilted upwards, and start lateral twisting from the waist (be careful not to twist from the arms, buttocks, buttocks), and keep the cushions firmly below the waist.

  Exhale, stretch your arms from the top of your leg to the toes.

Pay attention to lifting and contracting the ribs and abdomen.

The rearward radial arm should remain unfolded.

  Tips ● Turn the outer diameter to the left and right once for 3?
5 times.

  ● When tightening your body, tighten your waist and do not lift it off the mat.

Keep your footwork.

  ● Keep at least always open throughout the exercise.

  ● Strength and sensation are concentrated in the center of the body, and the ribs and abdomen are taken in the direction of the spine to increase the center of gravity of the body.

  Action: Start on the side of the body, contract the legs, hold the head with one hand, and balance the balance of the body with the other hand on the ground in front of the body.

  Soft waist exercise group 2: side kick kick action points: After stepping on the legs, perform another side leg exercise.

  Action effect: Convergence of the waist, hips, buttocks and outside of the thighs.

At the same time challenge the balance of the body.

  Action: Lift the single leg straight and make the legs form an open scissors shape.

  ● If you feel that it is more difficult to maintain your balance, one leg on the ground can be squeezed slightly forward.

  ●Be slow when tilting your legs, and the body will feel under pressure.

  ● Keep the upper body contracted and stable.

The lower side of the waist should be consciously tightened.

  ● Bend the kick leg upwards when inhaling, and forcefully lower the leg when exhaling.

Up and down once, for 6?
8 times.

  ● Increase the leg extension according to the flexibility, and re-open the scissors.

Facial Pilates saves slack skin

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Facial Pilates saves slack skin

More and more people agree that the lifting and sculpting effect of Pilates movement can be used for the relaxed skin on the face and complications. I am afraid that even the most senior Pilates masters can not help.

When the skin is no longer firm, the decree lines become more prominent, and the corners of the eyes and mouth will also show drooping fatigue . Reshape the firm and youthful state A Pilates-like method, which can be a special skin care product,It can help reshape the youthful appearance of the face.

  Schematic illustration of lymphatic manipulation: Pilates on the eyebrow are mainly used to exercise core parts of the body, cooperate with breathing techniques and slow coordinated movements to make the body muscles firm.

And to do Pilates for the skin, you should target the most critical-skin collagen.

Collagen is a kind of protein, which is most closely related to skin strength and elasticity.

When the collagen level is in the ideal state, the skin is plump and plump, and if the collagen is insufficient, the skin will lose its elasticity.

Therefore, only by enhancing the skin’s ability to synthesize natural collagen, can it help maintain skin elasticity and make the obvious skin contours firm again.

  Schematic diagram of the lymphatic method: radio wave peeling of temples, botulinum acupuncture, radiofrequency skin tightening-nowadays, various high-tech beauty equipment developed by successive servants have stimulated the energy that directly stimulates the growth of collagen in the basal layer of the skin.See the beauty effect immediately.

  Schematic diagram of lymphatic manipulation: So the chin bone, is the traditional day cream, night cream, essence and manual care outdated?

Beautician tells you: NO!

Beauty skin scientists have worked day and night to develop a variety of skin beauty products with similar medical beauty effects, combined with the special care methods of the beautician, and the persistent use of skin care products and methods at home, as time stops.

  Beautiful tricks to get rid of lymphatic absorption from absorption. Many people pay attention to skin care ingredients when skin care, but often ignore the issue of whether their active ingredients can be absorbed.

In fact, if the active ingredients are not fully absorbed by the skin, or if the degree of absorption is low, it will be more effective and less effective.

  Nearly 70% of the human body belongs to water, including in or between cells, in blood or lymphatic vessels.

Lymph fluid circulates through the body, removing waste from cells and blood.

If the lymph fluid is not flowing well and the waste toxins cannot be excreted, it will cause the phenomenon of poor absorption, which is manifested as swelling of the body, looseness of the lower eyelids, dry skin and wrinkles, stains, acne and other problems.

Therefore, to solve the problem of absorption of product ingredients, we must first pump through the facial lymphatic system.

  TIPS: The beautician starts from the forehead and pumps along the skin texture to the large lymph in the armpit.

Behind the ear lobe is the Fengfeng acupoint, which is a lymph node. Multiple obstruction can excrete the aging perforation.

  Beautiful tricks: Non-cosmetic high-tech anti-aging and orthopedics are complemented by unique shaping techniques, which are energy-efficient products that can overcome the beauty of Microwave and Botox needles.

This skin care product is rich in seaweed essence, precious caviar essence and olive leaf essence.

Three-dimensional action on the skin, accelerates skin metabolism, slows down the rate of oxidation; enhances the skin’s effect of fighting back wrinkles; increases skin elasticity and provides sufficient moisture and nutrition.

  Beautiful tricks Three 80 days of continuous care remodeling fibers Just like the body “Pilates”, the “Pilates” of the facial skin must be persistent.

Professional beauty salon care once every 5 days, plus home care twice a day in the morning and evening. After 80 days, you will see the effect.

  TIPS: The whole treatment 10 times is a course of treatment, with RF radio frequency energy treatment, the effect is more obvious.

  TIPS: The main point of this set of techniques is to avoid friction between the skin of the hand of the beautician and the skin of the face of the beauty seeker, and use dark power to heat the inside of the muscle, especially after the ear (front contour) is down.Face contours will be loose.

Don’t do these six types of white-collar workers

Don’t do these six types of white-collar workers

In today’s increasingly specialized science and technology, a “baby infant” without a skill can’t be achieved unless he is very talented and diligent.

Therefore, elders who are neither “talented” nor skilled are often candidates who are first considered for layoffs.

  The “shark type” that lacks team spirit is refined through social division of labor, and a job can often be efficiently and successfully completed only with the cooperation of the crowd.

Therefore, if individuals are not good at collaboration and have no team spirit, the individual can only be abandoned by the team.

  The upheaval of the stubborn “shell-shaped” society has determined that it is impossible for people in society to play a fixed social role forever in a changing social environment.

Those who are self-contained and do not think about the aggressive “shell type” will eventually lose their advantages in the fierce competition, and even out.

  Nowadays, the “machine type” that follows the rules is still more and more popular with employers who have pioneering and innovative capabilities.

“Machine type” talents who have a command to move the button will find it difficult to adapt to the rapidly changing social environment in the future, and they will be more crowded into the ranks of the unemployed.

  Some people who just say “no horn” do not seem to be full of money. It seems that as long as he says it, everything is changing.

In fact, nothing has changed.

Elites, these “speaking giants, action dwarfs” are distinguished from those who “do less and do more” and are more likely to lose everything in the competition.

  The tortoise with low efficiency is unknown, and the seemingly faithful and reliable tortoise can indeed arouse people’s sympathy.

However, in the already high-tempo and high-efficiency brutal market competition, those “turtle” talents who are slow to move and inefficient in work will undoubtedly be drowned out by the fierce competition.

Elderly eat more carrots to prevent cancer

Elderly eat more carrots to prevent cancer

Radish is a common vegetable in daily life, especially after the winter, there are many varieties of radish, such as small radish, white radish, heart radish, radish, green radish and so on.

There are many ways to cook, such as roasted radish, boiled radish, mixed radish, Sichuan radish, etc.

  Eating more carrots can prevent cancer in the elderly?

  But people generally love the beautiful radish in their hearts, which is crispy and sweet. People often eat raw cold salads. This way of eating is very good.

Because the radish in the heart contains higher vitamin C, which is dozens of times higher than that of pears and apples, it is known as “radish match duck pear”.

  Chinese medicine believes that radish has the functions of smoothing the qi, strengthening the spleen and digesting food, resolving phlegm and clearing heat, and diuretic.

Studies have shown that taking radish juice can prevent the deposition of gallstones and has an adjuvant therapeutic effect on gallstones.

Radish also has anti-cancer and anti-cancer effects. The vitamin C and carotene contained in radish can prevent the carcinogenic synthesis of nitrosamines.

Therefore, in terms of health care, the elderly should eat more radishes.