[How to make dried celery]_Home made dried celery_How to make dried celery_How to make dried celery

[How to make dried celery]_Home made dried celery_How to make dried celery_How to make dried celery

Fan Laikou mouth life, although everyone is pursuing, but the reality is not so good.

So you who live in reality will inevitably need to prepare your own dishes.

And to make a dish, you must have perfect methods and steps.

Then, let me learn how to dry celery with me.


If the celery bought back is too thick, use a knife to chop the celery into thin filaments and cut into sections. This is the key to avoiding tooth decay2.

12 Put the celery in the cold oil in the cold pot, and simmer for 3 minutes.

21 When there is steam coming out, immediately remove it for backup, and you can not plug your teeth without losing water4.

Put oil in the pan, first add the fragrant minced meat; ginger, garlic;

Add tempeh; stir-fry with chopped pepper 6.

Add 2 grams of soy sauce in sequence, 3 grams of chicken essence, 5 grams of sugar, and 5 grams of cooking wine and stir well.

After pouring in celery, drop in and add sesame oil 8.

The ingredients are very important if you want to eat well immediately after frying. The dried celery we introduced to you today, we must pay attention to the method.

If you’re interested, hurry home and buy the ingredients to try it out.

[How to eat tofu and meat]_Production_Practice

In the world, you will be able to find the best way to get started, and you will be able to see if you ca n’t do it. Ning Ge is the best fan. You can see the fan. The crepe version is the same as the one in the world.彂鏄庛€備富瑕佺殑鐢熶骇杩囩▼涓€鏄埗娴嗭紝鍗冲皢澶ц眴鍒舵垚璞嗘祮锛涗簩鏄嚌鍥烘垚褰紝鍗宠眴娴嗗湪鐑笌鍑濆浐鍓傜殑鍏卞悓浣滅敤涓嬪嚌鍥烘垚鍚湁澶ч噺姘村垎鐨勫嚌鑳朵綋锛屽嵆璞嗚厫銆傝€屼笖锛岃眴鑵愭槸鎴戝浗绱犻鑿滆偞鐨勪富瑕佸師鏂欍€傞偅涔堜笅闈㈡垜浠氨鏉ヤ簡瑙d竴涓嬭眴鑵愬拰鑲夋€庝箞鍋氭墠濂藉悆鍚э紒 涓€銆佺厧璞嗚厫鐐掕倝 鈶犳潗鏂欒眴鑵愶紥鍧楋紝鐦﹁倝锛掍袱锛岃挏鏈紝绾㈣荆妞掞紩涓紝娌癸紝姘村皯璁革紝楦$簿閫傞噺锛岀洂閫傞噺 鈶″仛娉?.璧锋补閿咃紝璞嗚厫鍒囧潡锛屽皬蹇冩斁鍏ラ攨涓紝鐓庤嚦涓ら潰閲戦粍鍗冲彲锛岀洓鍑哄緟鐢ㄣ€?.How can I make up for it? I ‘m going to make up for it. I ‘m going to set it up and down. I ‘m afraid that I ‘m afraid of my brother?3.鎶婄厧濂界殑璞嗚厫鏀惧叆閿呬腑鍜岀槮鑲変竴璧风倰涓€鍒嗛挓宸﹀彸锛屾斁鍏ヨ荆妞掑啀鐐掑崐鍒嗛挓宸﹀彸锛屾斁灏戣姘寸◢鐒栥€?4.鏈€鍚庢斁鐩愩€侀浮绮捐皟鍛筹紝瑁呯洏鍗冲彲锛屽懙鍛碉紒闈炲父绠€鍗曞惂锛?鈶㈠皬璇€绐嶈眴鑵愪拱鍥炴潵鍚庣敤鐩愭按娉′竴涓嬶紝鐓庣殑鏃跺€欎笉瀹规槗纰庯紒 浜屻€佽倝璞嗚厫 鈶犳揗 揂? 倝 鐗?200g “,” Chain ㄦ Pu 呜 厫 200g “,” Wa Xiao Yi 1/2 1/2?, “澶 ц 懕 1/2 镙?, “Scythe 1.5 揶 у pet “,” forging out 1.5 揶 у pet “,”?1.5 揶 у pet “,” supplementary supplement 2.5 still water у pet “TAI” Cha Pingdieshunguan Sulvhaohan Dun.What’s wrong with it? 5  垎 灏?1: Pu 厜 卫 囒 咧 鍧?It’s hard to harm 5 people.嬲 嬭 懕 鍒 嬣 笣.What’s wrong with this? 1 揶 у 訌 娌 Gui paper so 傛 傛 炛 炉 殴 摴?2: Error Chi Fu receive drama damage 1 Chán у pet OilPainting dec paper moisten Yong sluice insert Lingjingxita Pei Chán Yangjing Xuan Fen ammonia Right- mutual Juan rugged Ke you receive the stick level Ho Woo Ganjian Yun Marlene Rou plate Guocuan plug悗 璏 壘 璱 钁 changes to 篃 鏀 揃 揆 揣 掕 撕 Tang Jiang.鍐嶅皢璋冨懗鏂欏拰璞嗚厫涓€璧峰€掑叆閿呬腑 3: 鍐嶅皢璋冨懗鏂欏拰璞嗚厫涓€璧峰€掑叆閿呬腑绛夊埌鐓 沔 倔 嫔 悗.The marriage is broken. 4: 綛 夊 埌 倦 冦 倴 涔 嫔 悗 鍅 璢 Pu 呜 厫 厫 玫 玎 綎 玫 禎 廈 玫玫 玎 玎 禎 The marriage is broken.澶 ц 懕 揕 揀 fear 叆.鐩栦笂閿呯洊璁╁畠闂风叜涓€涓嬪埌澶ц懕绋嶄负鍙樿蒋鍗冲彲鐩涚洏.锛堥€斾腑瑕佸皢澶ц懕缈婚潰涓€涓?Adze additional information ぇ 钁 Bianchiluju Chijuancaoyi. 5: Forging and smoking 1 揶 у pet 鈙  each other ㄦ 曩 chain  tired of 1 澶 у pets 嬬 爞 瑞?Pampered

[How to make dumplings in winter melon]_Homely practice of dumplings in winter melon_How to make dumplings in winter melon_How to make dumplings in winter melon

[How to make dumplings in winter melon]_Homely practice of dumplings in winter melon_How to make dumplings in winter melon_How to make dumplings in winter melon

After a busy day at home to cook a mouth-watering meal, why not make up for yourself, slowly a sense of happiness emerges.

The practice of winter melon dumplings is not cumbersome. You only need to clean the ingredients and simply change the knife. It is also very important to master the heat of this dish. Turn off the heat and cook in a few minutes.

1. Add an appropriate amount of water to the flour and stir well, knead and knead it into a dough, and put it in a bowl to wake up for 20 minutes.

2. Wash the melon, peel and dice, simmer the water, put it in a bowl, wash and drain the shrimp skin and put the melon in a bowl.

Add all seasonings and mix well.

3, wake up the dough, put on the cardboard and knead smooth.

4. Knead the dough into long strips.

5. Scoop into about 20g dumplings of uniform size.

6, sprinkle thin powder and press flat.

7. Roll the dumpling preparation into a thick dumpling skin with a thick middle edge.

8. Take a dumpling skin and put in an appropriate amount of winter melon and shrimp skin filling.

9. Tighten the middle first, then the two sides.

10. A green melon dumpling dumpling is ready.

11. Put all the dumpling greens in order, put them into the steamer, and steam for about 10 minutes after boiling.

12. Finished product drawing.

This is a recipe that every family woman must know. Do you know how to make dumplings with winter melon?

You can also consult the Internet for other healthy recipes to be an all-around and excellent housewife.

[Can you eat figs in early pregnancy]_Early pregnancy_Can you eat them?

[Can you eat figs in early pregnancy]_Early pregnancy_Can you eat them?

Fig is a kind of food with high nutritional value. It not only tastes delicious, but also has good nutritional value. For pregnant women, it is also beneficial to eat some fruits and vegetables. It has the effect of promoting digestion of vitamins and minerals.Intake, we know that the body’s conditioning in the first trimester is more important. At this time, we must strengthen our diet so that we can develop well.

Can you eat figs in early pregnancy? Figs are rich in essential amino acids, organic acids, pectin, magnesium, manganese, copper, zinc, calcium, boron and other trace elements and vitamins and other nutrients.

Figs can promote digestion, laxative, laxative, as well as lower blood lipids, lower blood pressure and other effects. For pregnant women, it is an excellent food for calcium supplementation and constipation prevention.

The fruits of the figs are delicious both fresh and dried.

It has many amino acids, organic acids, magnesium, manganese, copper, zinc, boron and vitamins.

It is not only a fruit with high nutritional value, but also a good medicine.

It is sweet and sour, has the effects of clearing away heat and detoxifying, stopping diarrhea and milk, especially for hemorrhoids, blood in the stool, diarrhea due to spleen deficiency, sore throat and dry milk.

Pregnant women are most vulnerable to hemorrhoids.

To prevent hemorrhoids, it is necessary to maintain smooth stools, pay attention to drinking water, and develop the habit of regular bowel movements.

At the same time, pregnant women should often eat the right amount of figs.

Because figs are rich in nutrients, they can also treat hemorrhoids and milk.

What fruits are good for pregnant women? For normal pregnant women, no fruit is absolutely contraindicated, but pregnant women should follow the correct method to eat fruits. It is recommended that pregnant women choose fruits with a small amount of sugar to eat. The best time to eat fruits is to choose between two.Between meals, do not eat a lot of fruit or even affect the meal.

What fruits should pregnant women eat?

It is recommended that pregnant women choose the right fruit to eat according to the different stages of pregnancy.

1. Early pregnancy: What are the benefits of grapefruit, apple, grape, orange, banana in early pregnancy?

The expectant mother is best to choose neutral fruits, such as apples, grapes, oranges, lemons, guava, bananas, pineapples, lotus mist, sugar cane, and olives.

If you want to eat hot fruits, you must eat a small amount, it is best to eat with cold fruits, this will help the role of cold and heat neutralization.

Cold fruits like watermelon, grapefruit, and pear must also be selective.

Grapefruit is a good supplement for folic acid during this period. Grapefruit contains natural folic acid.

Folic acid is not only important for early pregnancy, it is also essential throughout pregnancy.

Helps allergies, and people who are prone to eczema should not eat it.

2, second trimester: lemon, cherry, kiwi, orange, pear, begonia, second trimester, expectant mother’s appetite is widening, often growing rapidly, more nutrients are needed.

At this stage, pregnant mothers can eat fruits such as lemon, cherry, kiwi, kiwi, grape, loquat, apple, begonia, and supplement vitamins and folic acid.

Cherries are the ideal fruit for pregnant women.

The content of iron in cherries is very rich. Consuming about 12 cherries a day can effectively increase the absorption of iron, prevent iron deficiency anemia in expectant mothers, and is more beneficial to brain health.

Kiwifruit Kiwi fruit is rich in vitamins C, A, E as well as potassium, magnesium, cellulose and other nutrients.

Expectant mothers can eat one kiwi every day, which can stabilize mood, improve sleep quality, and effectively prevent constipation during pregnancy.

Apple is the most popular fruit in daily life. It is rich in sugar and vitamins, and microelements, especially zinc. An apple can not only help mothers to absorb nutrients, but also benefit babies.

Begonia fruit is a fruit with folic acid, which has the effects of replenishing and quenching thirst, strengthening the spleen and reducing diarrhea, and can treat indigestion, which is a good choice for pregnant women.

However, begonia acid, stomach ulcers and pregnant women with too much acid should not eat.

[How to make curry potato chicken delicious]_Recommended diet

[How to make curry potato chicken delicious]_Recommended diet

Curry potato chicken is almost bright in color, delicious and delicious, and the meat is tender. In addition, the chicken contains a lot of protein, and the trace content is relatively low. Potatoes can also be starch, which has rich nutritional value and can effectively supplement the nutrients needed by the human body.With the special flavor of curry, it is loved by friends.

So, how to make curry potato chicken is delicious?

First, buy fresh chicken, clean it, cut into pieces of appropriate size, put it in boiling water to remove blood water, and then add it to a clean container. Add an appropriate amount of cooking wine and ginger slices, shallots, peppercorns, star anise and other aniseed ingredients., Marinate the chicken.

After the potatoes are peeled and cleaned, cut into pieces of appropriate size, and add other side dishes according to your preference.

Pour the curry powder into a bowl, determine the amount according to the actual situation, add an appropriate amount of water and stir into a juice.

Then, add an appropriate amount of oil to the pot. After the oil is hot, add the ginger slices, spring onions, and green peppers and onion pieces and stir-fry. Then add the chicken, stir fry, and pour the prepared curry sauce to fully color.After that, add an appropriate amount of water.

Finally, after the high heat is boiled, change to low heat, then add the cut potato pieces, add the appropriate amount of salt, monosodium glutamate and other condiments, and stir well before serving.

The delicious curry potato chicken is finished, and then served with hot rice, it is extremely delicious. As a common delicious dish, the method is simple to operate and you can try it at home.

Moreover, compared to the restaurant, it is clean and hygienic, and it is also assured to taste. You can also make unique flavors according to your preferences, or add some other side dishes, and try to make it quickly!

Wanhua Chemical (600309) 2018 Annual Report Commentary Report: The rapid growth of high-quality chemical leaders is on the way

Wanhua Chemical (600309) 2018 Annual Report Commentary Report: The rapid growth of high-quality chemical leaders is on the way

Investment Highlights: Maintain overweight.

As the average product price is gradually revised, the EPS for 2019-21 is 4.



84 yuan (originally 3 for 2019-20).


8 yuan), due to the company ‘s incremental landings, the estimated premium is 14 times PE for 19 years, and the target price is 45.

00 yuan increased to 56.

00 yuan to maintain the overweight level.

  18-year performance before and after high: the company realized revenue of 606 in 18 years.

2.1 billion (+14 compared to the same period last year).

11%), achieving a net profit of 106.

1 billion (YOY-4.


Among them, 18Q4 company achieved net profit attributable to mother 15.

8.9 billion, down 23 from the previous month.


The overall listing simulation consolidated statement, the company realized revenue of 728 in 18 青岛夜网 years.

3.7 billion (+12 year-on-year.

33%); realized net profit of 155.

510,000 yuan, (+2 compared with the same period last year).


The downward impact of domestic MDI prices in 2018 led to high and low performance.

  2019 MDI product prices are expected.

The inflection point of MDI prices appeared and started to rise, leading to a slowdown in oligarchs ‘expectations of delivery and a reduction in supply, but more importantly, the global MDI supply was slightly tighter in 19 years. We judge that global demand will still maintain a 6% -7% growth rateIt is expected to increase by 40 tons, while the supply side of Dow Middle East equipment, Huntsman Phase 2 equipment is expected to be replenished during the period of 5, 15 times, each time Wanhua Yantai equipment load can still be increased, the global increase in supply is slightly less than the supplementary demand.
  The company’s three major sectors of polyurethane, petrochemical and new materials have been formed, and will continue to develop in the three major sectors in the future.

In the polyurethane sector, the company’s TDI plant was put into production at the end of 18 years. The expansion of internal MDI and aniline and other supporting equipment will gradually be realized in the next 1-2 years. The company’s US MDI plant will help to start production in 2021; the petrochemical sector, the company’s star anise phase 100 melting point / yearEthylene, 40 tons / year of polyvinyl chloride, 15 tons / year of ethylene oxide, 45 tons / year of LLDPE, 30/65 tons / year of epoxy resin / styrene, 5 tons / year of butadiene is expected to be in 2020 10Production started in the month.

  Risk warning: The price of MDI products has changed more than expected, and the start-up of Phase II of Bajiao has been slow.

Evergreen Group (002616) Company In-depth Study: Second Round of Expansion Only 10 + 3 Combined Heat and Power Projects to Be Put into Production

Evergreen Group (002616) Company In-depth Study: Second Round of Expansion Only 10 + 3 Combined Heat and Power Projects to Be Put into Production
The refined management has strong genes, two rounds of expansion into the field of environmental protection and thermal energy, and a large industrial heating development space company started with gas appliance production and sales. In 2004, it obtained the construction and franchise rights of a group waste incineration power plant in central Zhongshan. Project 2006After being put into production, it continued to run steadily and expanded to the third 佛山桑拿网 phase.The company’s first round of expansion finally ended in 2015, and a total of 5 biomass power generation projects were commissioned.  The company has strong refined management capabilities. Although the biomass plant is difficult to operate and maintain, the project has been operating steadily for many years. The unit utilization hours are 8000+, and the net profit of individual projects is about 2000-3000 million.  In 2018, the company entered the second round of expansion. The new projects are all biomass-based cogeneration in the industrial park and coal-fired cogeneration.At present, overall consumption upgrades, manufacturing upgrades, centralized development of the park, and industrial migration drive the prosperity of high-quality parks; most of the small coal-fired boilers are shut down under the pressure of environmental protection, and the park has a large demand for clean heat; and it supplies natural gas.High cost, biomass heating, ultra-low emission cost of coal has obvious advantages, strong heating demand, and large development space.  The combined heat and power business model is excellent, and heating can be profitable without supplementation. The company’s cash flow is optimized. ROE enhances the stable profitability of the biomass power generation project put into operation in the first round of expansion of the company.flow.The company’s second-round expansion of the newly built biomass biomass cogeneration project, in which the industrial heating heat price is high, no supplement, and heating is prepaid, so the project cash flow, ROE will also increase at the same time.The Mancheng project was put into operation in 2018 and the Pucheng project was put into operation in 2019. At present, there are 10 biomass cogeneration and 3 coal-fired cogeneration to be put into operation, and it is expected that it will enter the peak period of production in 2020.The company has better heating demand downstream of the projects under construction and supplements the company’s strong management and operation and maintenance capabilities. It is expected that the company’s growth space will be opened again after the new projects are put into production.  The intensive treatment of agricultural and forestry biomass is necessary, and resource utilization is the development trend of the industry. Agricultural and forestry biomass is a continuously generated biomass waste. Domestic agricultural and forestry biomass resources are equivalent to 1 billion tons of standard coal per year.Direct incineration will cause serious environmental and safety problems, and intensive treatment is of great significance for the construction of new rural areas.Biomass for agriculture and forestry is a very good fuel, which has the potential for resource utilization, and resource utilization is the development trend of the industry.Among the many ways of resource utilization, biomass cogeneration has commercial potential, strong comprehensive utilization benefits, and the state encourages development.At present, the overall biomass fueling ratio is only 13%, which is far lower than that in Europe. The fueling utilization is still developing space.  The company has a stable development, high management level, and clear growth. In the future, the company will enjoy steady development for many years. Many construction projects will be financed by debt. The asset-liability ratio will increase during the expansion period, but the debt ratio will gradually recover after the project is put into production.Incentives for outstanding employees of the company, from equity incentives to cash incentives, are increasingly flexible.Founders He Qiqiang and Mai Zhenghui directly and indirectly hold 60 shares.8%, the pledge ratio is only 17.15%.The company’s historical dividend ratio is high, and high dividends can be expected in the future.  Profit forecast: We expect the company’s net profit attributable to its parent to be 2 in 2019-2021.98, 4.81, 7.16 trillion, irrespective of the issuance and conversion of convertible bonds, the corresponding EPS is 0.40, 0.65, 0.97 yuan.Give the company 18x PE in 2020 with a target price of 12 yuan / share.Give “Buy” rating.  Risk Warning: The price of product raw 都市夜网 materials fluctuates, the project progress is less than expected, the convertible bond issuance fails, the biomass power generation compensation is cancelled, the industrial park accident, and the prosperity of the industrial park is down

Dongfang Cable (603606) 2019 Third Quarterly Report Review: Submarine Cable Continues High Growth, Land Cable Gross Margin Quickly Turns to Sea-Land Advancement Strategy and Initial Results

Dongfang Cable (603606) 2019 Third Quarterly Report Review: Submarine Cable Continues High Growth, Land Cable Gross Margin Quickly Turns to Sea-Land Advancement Strategy and Initial Results

Matters: On the evening of October 25, 2019, the company released the 2019 third quarter report, and the company’s revenue for the first three quarters was 25.

68ppm, an increase of 17 per year.

32%, achieving a net profit of 3.

20,000 yuan, an increase of 162% in ten years.

Comment: The average value of submarine cable and land cable business shows a high growth trend, and the profitability of submarine cable continues to exceed expectations.

In the first three quarters, the company’s submarine cable revenue totaled 10.

1.5 billion, accounting for 39% of total revenue.


According to our forecast, submarine cable revenue was approximately 4 in the third quarter.

0.6 million yuan, an increase of 27% from the second quarter.

In fact, the company’s land cable revenues have shown a year-on-year growth trend, and in the third quarter we estimate that the revenue will be about 6.

400 million US dollars, a year-on-year increase of more than 22%, the total revenue in the first three quarters of about 1.5 billion US dollars, a year of continued growth.

In terms of profitability, the company’s gross profit margin reached 23 in the third quarter.

86, down 2 in the second quarter of the year.

32 units, mainly because 武汉夜网论坛 the gross margin of 500kV orders in the second quarter significantly increased the company’s comprehensive gross margin in the second quarter.

We estimate that the gross profit margin of the company ‘s submarine cable remained above 40% in the third quarter, exceeding the first quarter of this year and exceeding market expectations.

On the whole, the company’s third quarterly report reflects the company’s submarine cable capacity, profitability continues to exceed market expectations, and it is expected to maintain a better level in the fourth quarter, thereby achieving market expectations.

The profitability of land cable has rebounded substantially, and the strategy of “sea and land advancement” has begun to bear fruit.

According to our calculations, the gross profit margin of the company ‘s land cable in the third quarter has recovered to more than 10%, which is significantly better than the situation of less than 8% before 2018.

In 2018, in response to the rapid explosion of submarine cable orders, the submarine cable production line no longer produced medium and high voltage land cables, which resulted in the company’s gradual changes in the medium and high voltage land cable throughput, the order structure deteriorated, and the hair improved.

In 2019, the company followed the strategy of “gathering the land and the sea” and, while rapidly developing the submarine cable business, further expanded the land cable business to grab market share.

We believe that under the overall economic downward trend, after years of reshuffle at the bottom of the cable industry, the cable industry has entered a transition period where the concentration of the industry has increased again. The company relies on the profitability of the submarine cable business to complement the land cable business and is expected to expand at the bottom of the industryThe market share further expanded and strengthened the land cable business.

The business of the Great Ocean Segment is in the ascendant, and the company’s three-year business growth can be expected.

At present, offshore wind power has entered the initial stage of the development of the industry’s forward cycle. Although there are occasional rumors of policy adjustments, we still believe that policy adjustments will ensure the smooth and orderly development of the industry.

At present, the company’s new orders in 2019 are close to 1.7 billion, and orders in hand exceed 2.5 billion. In 2020, submarine cable revenue will increasingly exceed 2019.

At the same time, the company’s umbilical cable and offshore engineering business are about to enter a period of heavy volume growth, which will gradually increase the company’s entry into a three-year high-speed growth period.

Earnings forecasts, estimates and investment ratings.

In the third quarter, the company’s revenue and product gross profit margin exceeded expectations. We raised the company’s product gross profit margin and revenue.

What do we expect in 2019?
The company’s net profit attributable to mothers in 2021 can be realized4.

38, 5.


1.4 billion (previous forecast 3.

55, 4.

75, 6.

4.6 billion), corresponding to the current expected PE of 16.

8, 13.

2, 10.
3 times.
According to land cable, submarine cable, and offshore engineering, we give 15, 25, and 15 times the estimated calculations, and give a comprehensive assessment22.

32 times, adjust target price to 14.

9 yuan, maintaining the “strong push” level.

Risk warning: the company’s production expansion progress is less than expected, and the offshore wind power compensation policy changes.

Infant Room (603214) Half-yearly report of 2019: Q2 stores will accelerate in the future and continue to focus on the development of East China and Southwest markets

Infant Room (603214) Half-yearly report of 2019: Q2 stores will accelerate in the future and continue to focus on the development of East China and Southwest markets

The report guide company H1 achieved revenue 11.

7.9 billion (+15.

92%), net profit attributable to the mother was 6,228.

730,000 yuan (+27.

31%) Revenue from key investment points has steadily increased. The acceleration of Q2 exhibition stores has led to an increase in revenue growth. The company achieved operating income in the first half of the year.

7.9 billion (+15.

92%), of which Q2 single-quarter revenue was 6.

3.4 billion (+18.

50%), the increase in growth rate was mainly due to the acceleration of Q2 exhibition stores. In the first half of the year, the company opened 18 new stores and a net increase of 10, of which Q2 opened 12 new stores and a net increase of 9 stores.

At the same time in the second quarter completed Chongqing Taicheng 51.

The acquisition of 72% equity increased the number of its own stores by 18. At the end of the reporting period, the number of company stores reached 251, an increase of 12% from the end of the first quarter, and the number of stores at the end of the same period each year increased by 24% (excluding the 18 stores acquired).Growth of 15%), same-store growth rate of about 4% -5%.

In the first half of the year, net profit attributable to mothers was 6,228.

730,000 yuan (+27.

31%), net profit after deduction is 5088.

960,000 yuan (+25.


In terms of different models, store sales are the main source of revenue (88%), and the growth rate of e-commerce revenue has accelerated (+87.


In terms of products, milk powder is still the main source of revenue (+18.

40%, accounting for 46.


The gross profit margin increased and the expense ratio increased slightly. The company’s comprehensive gross profit margin was 28 in the first half of the year.

87% (+1.

46pct), of which the core product milk powder gross margin is 21.

87% (+3.

27pct), mainly due to the increase in the proportion of ultra-high-end milk powder, and the gross profit rate of cotton spinning was 40.

92% reduction of 9.

37 pct, mainly because the cotton spinning business is affected by the weather, the company increased its promotional efforts and lowered its gross profit margin.

During the period, the expense ratio increased slightly (+1 pct), mainly due to the increase in labor costs and the increase in the sales expense ratio of the new store rent and property management fees by 1.


In the future, we will continue to focus on the development of the East China and Southwest markets, and endogenous + extensions will continue to improve our performance. In the second half of the year, the company has signed 44 pending stores.In the first half of the year, the company completed 51 of Chongqing Taicheng.

The acquisition of 72% equity will increase the number of stores 杭州夜网 it owns by 18. In the future, the company will focus on Chongqing to expand its business in the southwestern market and lay out new opportunities for regional development.

Earnings forecasts and estimates predict that the company’s net profit attributable to mothers in 2019-2021 will be 1.



26 ppm, an increase of 23 in ten years.

50% / 24.

50% / 22.70%, EPS is 1.



26 yuan, currently corresponding to 2019-2021 PE is 27.



77, give “overweight” rating.

Risks prompt increased competition in the industry, slower than expected

Public and private equity funds seize the opportunity to adjust collective action

Public and private equity funds seize the opportunity to adjust collective action

Since July, A shares have entered the adjustment phase.

The mainstream private equity funds seized the opportunity to adjust and decided to increase their positions.

  According to the July report of the China Resources Trust Sunshine Private Equity Long Index (CREFI), the average equity position of the CREFI index constituent funds was 70%, an increase of 3 from the end of last month.

68 averages.

  In addition, many private placements frequently researched technology stocks in July.

Data show that they have bet with real gold and silver. Technical hardware and equipment, software and services, semiconductors and semiconductor production equipment have become the main direction of private placement in July.

  Private placements obviously increased positions. As of the end of July, the proportion of equity holdings that exceeded 50% of the constituent funds was 78.

5%, up 9 from the end of last month.

27 averages.

The proportion of optimistic investment managers (positions 80% -100%) and cautious investment managers (positions below 60%) have decreased, and positions are closer to the middle (positions 60% -80%).

  The relatively optimistic tone of CREFI index constituent funds’ stock position distribution at the end of the past two months may continue.

  Shibei Investment said that the market grew significantly in June and began to fall in July, maintaining a cautious and optimistic attitude in investment.

“The market may have a dull period of cuts, but it does not affect our layout for the future. The prospects of a large consumer country plus a stronger manufacturing country will generate many opportunities.

“Shicheng Investment pointed out that before the catalyst priority is not realized, the stock position scale will not be too aggressive.

  According to data from technology stocks, the three industries with the largest increase in CREFI index ETF positions in July were technology hardware and equipment, software and services, and semiconductor and semiconductor production equipment.

The three industries with the largest reductions were food, beverages and tobacco, pharmaceuticals, biotechnology and life sciences, consumer durables and apparel.

  China Resources Trust said that 四川耍耍网 the listing of the science and technology board allows investment managers to focus more on the technology industry. Among them, the proportion of positions in the technology hardware and equipment industry has changed, and there are currently signs of bottoming out.

  In July, technology stocks became very popular.

However, a small amount is that the food, beverage and tobacco industries have been continuously increasing their holdings in the past two years. At present, they are still the industry with the highest allocation ratio, and much higher than the second-ranking materials industry.

  CREFI index constituent funds in the past two months at the end of the industry’s average allocation ratio to increase positions in technology stocks are also public funds.

  According to China Galaxy Securities Fund Research Center’s over-calculation of the fund industry allocation, the main public offering funds continued to maintain an over-allocation of information technology listed companies in the second quarter, with an over-allocation ratio of 192.

24% (that is, the ratio between the fund’s allocation of a certain industry in the stock portfolio and the proportion of the stock market value of a certain industry in the stock market).

  What are the investment opportunities for technology stocks?

  Looking ahead, what are the investment opportunities for technology companies?

Will the market switch from the consumer sector to the technology sector?

Too many public and private equity institutions have offered their own answers.

  Bedrock Capital believes that whether to switch styles also needs to pay attention to performance factors.

If the growth performance of the growth stocks sector is not strong enough, then market funds may not flow from consumption to growth, and the “holding group” situation of consumer stocks may continue. Investors are advised to focus on the white horse in the technology industry with relatively clear performance growth.share.
  Shicheng Investment also pointed out that it will moderately adjust its investment portfolio to achieve a better balance between financial consumption and technological growth.

  Xingquan Fund Research Director Dong Chengfei said that A-share investors now hold core assets. These assets are really good, but they may also be the heyday. There may not be much room for it. In the future, if the Chinese economy is to continue to develop in a sustainable and sustainable way, Need some new companies, technology companies keep changing from small to large.

  ”Although the technology sector now looks ugly ducklings, and the competition will be worse, in fact, if they are given enough time, I believe they will progress. I think this is also the hope of China.

“He says.

  Nord Fund said that it is relatively more optimistic about the high degree of prosperity, strong performance growth, reasonable estimates or even low estimates, and the organization does not have a clear focus on the technology industry.

  Editor: Wu Xiaojing