Dongfang Yuhong (002271): Continuing high revenue growth, focusing on changes in operating quality

Dongfang Yuhong (002271): Continuing high revenue growth, focusing on changes in operating quality

Event: The company released its 2019 Interim Report and achieved 79 operating income.

08 million yuan, an increase of 40 over the same period last year.

89%; realized net profit attributable to the parent company was 9.

160,000 yuan, an increase of 48 over the same period last year.

11%; net profit after deduction to mother 6.

89 ‰, an increase of 30 in ten years.

37%.

Revenue continued to expand rapidly, and the growth of waterproof membrane and construction has improved: and to maintain the company’s continued expansion of the market and the development of large real estate customers, the market share has maintained a rapid growth trend, and the average value of waterproof materials and construction business has achieved rapid growth.Revenue 44.

610,000 yuan, a year-on-year increase of 52%, an increase over the same period last year; waterproof engineering construction business also grew significantly, achieving revenue of 10.

300 million, a 50% increase in ten years; sales of waterproof coatings21.

34 ‰, a year-on-year growth of 25%, a decrease from the same period last year.

In terms of 北京桑拿 quarters, Q2 quarterly revenue continued to grow rapidly.

The company’s Q1-Q2 revenue increased by 41.

01%, and 40.

82%, quarterly revenue continues the rapid growth trend since the second half of last year, and is expected to benefit mainly from the relatively high demand for new real estate starts and the increase in the share of large real estate customers.

The gross profit margin decreased slightly, and the quarterly gross profit growth showed an improvement trend: the company is expected to achieve a gross profit margin of 36.

58%, a decrease of 0 from the same period last year.

33 units.

The gross profit margin of the waterproof membrane and construction business decreased overall.

In the first half of the year, the average price of asphalt, the main raw material for primary waterproofing membranes, has 上海夜网论坛 increased compared with the same period of the previous year. The company’s asphalt reserves in winter have hedged the impact of some price increases.

86%, an increase of 1.
.

73 singles are expected to benefit mainly from the impact of price and product structure adjustments.

By quarter, the company’s gross profit margins for Q1-Q2 were 34.

48%, 37.

67%, a change of -1 compared with the same period last year.

47 and +0.

In the 25 quarters, the gross profit margin in the second quarter of Q2 further increased, which is expected to reflect the impact of product price adjustments and winter storage asphalt cost reduction effects.

Net operating cash flow decreased by 11.

600 million, the cash-to-cash ratio declined: the company’s consolidated net operating cash flow was -11.

6ppm, an increase compared to the same period last year (2018H is a net decrease of 3).

800 million).

The company achieved a cash receipt ratio of 90%, a decrease of 9 percentage points from the same period of the previous year, a cash payment ratio of 104%, and an increase of 2 percentage points from the same period of the previous year.

700 million, an early improvement and a decline, of which accounts payable22.

USD 800 million, a decrease of nearly USD 800 million compared with the beginning of the year; the payment of other operating-related cash flows increased by approximately USD 700 million over the same period of the previous year, and was a net replacement for operating cash flows.

Investment suggestion: The company carried out strategic upgrades and organizational structure adjustments in the fourth quarter of 2018, and made relevant personnel adjustments accordingly. While continuing to strengthen its core competitive advantages, it sought a change of model while adjusting its business strategy to “stable operation and steady progress.”, Pursue more sustainable and excellent healthy development; at the same time, cultivate and create new business segments, and strive to achieve the transformation from “waterproof system service provider” to “building and building material system service provider”. Multi-category strategies have begun to emerge, and the company is expected to open a newOne cycle of growth.

We expect the company’s EPS to be 1 in 2019-2021.

49, 1.
98, 2.
49 yuan, corresponding to PE is 16, 12, 9 times; maintain “Buy” rating.

Risk reminders: Macro-scale policies and industry risks in the downstream real estate industry, raw material price fluctuation risks, market competition risks, and accounts receivable risks.

Shandong Heda (002810): Plant capsules continue to erupt and ROE hits record high

Shandong Heda (002810): Plant capsules continue to erupt and ROE hits record high

The company publishes a quarterly report and realized revenue in the reporting period2.

3.2 billion, previously +34.

16%; net profit is 28.51 million, ten years +167.

81%, eps0.

25 yuan.

Comments: Benefiting from the completion of technological transformation and expansion and the volume of plant capsules, the company’s performance continues to be released, and ROE hits a record high. We have repeatedly broken the company’s performance for continuous release. There are two main reasons for this.The project was put into production, which completely broke through the insufficient production capacity, which solved the problem of the company being forced 重庆耍耍网 to purchase a cumulative capacity gap through external purchases due to oversupply, and the production capacity was fully released;Significantly exceeded the company’s overall profitability.

During the reporting period, the company’s income was +34 per year.

16%, MoM -7.

19%, net profit ten years +167.

81%, +71.

86%.

Return on equity (3.

69%), gross profit margin (32.

45%), net interest rate (12.

60%) hit a record high in a single quarter, showing the company’s current strong development momentum and good anti-cyclical attributes.

The plant capsule enters the outbreak period, the product price rises, the technological transformation and expansion climbs, the profit level is expected to continue to increase, and the company’s expansion in the field of plant capsules enters the outbreak period.

Hershey increased its sales of capsules to over 3 billion capsules in 18 years, realizing revenue of 77.69 million yuan, net profit of 21.06 million yuan, and net profit of 27.

1%, significantly surpassing the company’s comprehensive level (net margin).

40%).

According to the company’s plan, the sales target of Hershey’s plant capsules will be 6.3 billion capsules this year, and tax revenue will be realized1.

4 billion.

At the same time, Fuchuan Chemical’s original trimethyl acetate and other products achieved sales of 3,600 tons, including tax revenue1.

100 million US dollars, taking into account the strong profitability of plant capsules and the continuous rise in the price of trimethyl orthoacetate, including the continuous expansion of cellulose ether technology expansion and expansion, the company’s performance promotion continued to significantly improve.

Optimistic about the company’s technological transformation and expansion and the broad market space of plant capsules, and the performance is about to break out. Maintain the “Buy” rating. The company deeply cultivates the cellulose ether industry, has a complete product line, and comprehensively covers the production of building materials, pharmaceuticals, and food products.The industrial chain to the downstream plant capsules sector has significantly improved profitability. We are optimistic that the company’s new production capacity has reached full capacity and the broad market space for plant capsules. The company’s performance continues to be released, maintaining the company’s net profit attributable to mothers in 19/20.

34/1.

7.6 billion profit forecast, quarterly growth rate of 83.

6% / 32.

0%, EPS1.

12/1.

48 yuan, corresponding to PE22.

7/17.

2x, maintain “Buy” rating.

Risks suggest that raw material prices fluctuate, exchange rates change, and demand falls short of expectations

The sedentary must eat more of these vegetables

The sedentary must eat more of these vegetables

Lettuce: It has the function of opening and depleting, vitamin C, natural folic acid, iron, and frequent lettuce, which promotes intestinal peristalsis and prevents constipation.

  Water Spinach: Contains a large amount of cellulose and hemicellulose, edible cellulose such as glue, pectin, etc., has a role in the treatment of constipation, blood in the stool, hemorrhoids.

  Leek: It is said to be “gut washing grass”. It contains a small amount of crude fiber and is relatively tough. It is not easy to be digested and absorbed, and promotes colonic peristalsis. It is recommended to eat it occasionally in summer.

  Spinach: Spinach is cool in nature, sweet in taste, and has the functions of nourishing, stopping bleeding, moistening, smoothing intestines, and laxative.

  Sweet potatoes: cooling blood and promoting blood circulation, wide intestines and stomach, constipation, especially for chronic constipation.

  White radish: It can promote digestion when eaten raw, and its spicy can promote gastric secretion and adjust the regeneration function.

In addition, it contains abundant crude fibers, which can promote peristalsis and keep the stool smooth.

Get rid of a tired day of yoga

Get rid of a tired day of yoga

Now yoga has gradually become the new favorite of many people’s fitness. It can not only pass the effects of fitness, but most importantly, it can make you physically relaxed.

Let ‘s learn Yoga 6 that can make you mental all day long.

  First, the T-shape starts from the Samurai II posture. Put your hands on the top, tilt your upper body straight forward, lift your left foot, look for balance, and then your upper body is completely forward, lifting your left leg until your body is parallel to the left leg.

Bend your left leg fully, from your hips to your toes.

Keep your chest straight and face up toward the floor.

Straighten your body with your palms facing inward.

Hold for 5 breaths.

If this is too difficult for you, you can put your legs on a chair in the beginning.

  Second, the triangle starts with the mountain posture, with your right foot stepped backwards; turn your foot right and the outside of your legs at 90 degrees, and your left foot forward.

With your legs at the center, turn your back forward.

The right heel is aligned with the left instep.

Raise your arms and palms down.

Straighten your legs (if you can’t, you can bend the implant 90 degrees) and stretch your torso and arms.

Inhale.

Place your other hand on a bone, ankle, or floor.

Keep your left and right arms in a straight line.

Look up.

Hold for 5 breaths.

Return to the original position and start on the other side.

  Third, Samurai II started with a crescent, laid his left foot flat, turned his toes 30 degrees, his legs were still straight, and his ends turned 90 degrees.

Keep your right heel and left instep in a line, and keep it at 90 degrees. Stomp, relax your body and the pedals, center it, stretch it all the way, level with your shoulders, and lower your palms.

Stretch your fingertips as if you are touching the wall.

Eyes focus on the middle finger of the right hand.

Hold for 5 breaths.
  Four or half moons start with a T shape.

The right fingertip touches the floor (if you can’t touch the floor, you can pad some items such as books, etc.).

Transfer weight to right hand and right leg.

With your left foot off the floor, rotate the bench on the left, with the back and left legs parallel to the ground.

For better balance, look up.

Hold for 5 breaths.
At the end, turn the torso and tibia forward to return to the mountain posture.

  Fifth, put your feet together in a tree pose, starting with a mountain pose, with your toes fully open and extended; use your front thigh muscles to drive the muscles near your knee joints.

Straighten your spine and raise your chest and back.

Put your hands together in a prayer position, with your thumbs close to your body and your elbows flexed * close to your body.

Now lift your left foot tightly against your right leg (you can use your hand to help if necessary), keep your balance, and keep your right leg upright.

Hold for 5 breaths.

If you have poor weight and softness, you can place your left foot on the lower leg or joint.

  Sixth, the crescent starts from the position of the tree, the left foot takes a big step backward, the heel is lifted, and the leg is straight.Bend your right leg and knee in a straight line.

Lift your arms up and close your hands.

Press down on the grit and back.

Hold for 5 breaths.

If you don’t think yoga is a real exercise, then try this exercise!

Your thigh will tell you how it feels.

Don’t let love ruin in the second stage of love

Don’t let love ruin in the second stage of love

When I was sick, she waited. ”

So he appreciates this love.

But he still has “girlfriend” love, he feels that she loves me with passion, and now she can’t live without her.

  When these loves were tangled, he was upset, lost sleep, and even ran away from home to escape.

Does he think that certain love is more important?

How should I face so much love?

  The scene: He pointed out that there was distress in the contradiction, and he (let’s call it B) started a conversation with Zhang Lan, a counselor.

  Zhang: How are you?

  B: It’s not good. I’m totally confused.

  Zhang: Why?

  B: I don’t understand what I do correctly.

I miss my girlfriend very much, but she doesn’t want to see me.

She said she loved me, but as long as I didn’t divorce, she wouldn’t have anything to do with me.

I don’t know if I love my wife.

She told me she loved me, but I didn’t feel it.

  Zhang: You mean . B: The way she loves me is not the way I want her to love me.

do you understand me?

  Zhang: You say it.

  B: She loves me in the way she takes care of me and her children.

When I was sick, she waited for her.

She is such a kind person.

But her love is not the same as that of my girlfriend. She will love me with passion, but my wife is not like that.

  Zhang: Have you ever had passion with your wife?

  B: We were very happy when we first got married. We all had passion.

But then everything changed with the child.

  Zhang: How about the children?

  B: Oh, I love them very much.

I can’t imagine how I would live without them.

It is because of them that I have maintained this marriage.

  Zhang: What else do you love?

  B: I also love my wife, but I love it differently.

Also love my parents, family and some friends.

  Zhang: How is your career?

  B: Oh, I don’t like my profession.

  Zhang: But you spend a lot of time on your work.

You work overtime and work on weekends.

You have a passion for work, you make up for it, and it’s easy for you to stay on the construction site.

  B: That’s just evasion. I don’t know how to face my wife, children and girlfriend’s love for me.  Zhang: Do you love yourself?

  B: I don’t think I am selfish or anything, but I think I love myself.

But these days I hate myself.

  Zhang: Then what should you love?

  B: I don’t know.

What else should I love?

It seems that there are so many different loves. Is there some love more important than others?

  Zhang: Yeah, there is different love, but more importantly, love has different stages.

It seems your love can’t move forward.

  B: What do you mean?

I do not understand.

  Zhang: It seems your desire comes first.

  B: You mean, do I put myself in front of others?

  Zhang: Yes, and often when your desire cannot be satisfied, you just leave.

You don’t give your love a chance to let it progress and create unity between you and others.

If your love cannot evolve into unity, then this love is sad.

  B: I need to think about it.

  Analysis: The destruction of love in the second stage of psychological counselor Zhang Lan analysis pointed out: Mr. B’s confusion about love can show us that the phenomenon of extramarital affairs in marriage is because we have not given ourselves the opportunity and efforts to allow our love to evolve.
  Nowadays, extramarital affairs are common.

Why are so many people paying attention to morality and condemnation?

One explanation is because there is no gratification in marriage, and another mental and physical stimulus is sought.

Another view is that the so-called pursuit of true love is an excuse. Instead of leaving a chance for true love and encouraging it to progress, it ends the true love and follows the false love of desire.

  How can we avoid this phenomenon?

First of all, we must constantly enrich ourselves, let our life have goals, keep pursuing, and achieve spiritual flow, so as not to feel dry in the mind, but to seek physical and emotional stimulation to relieve the dull mental state.

  First of all, we must understand the characteristics of different stages of love.

In the romantic stage of love (this is the first stage of love), we are usually attracted to the larger characteristics of another person.

When both sides attract each other and satisfy each other, the relationship of love becomes particularly strong. At this time, lovers are consuming each other’s love, they are nostalgic for each other and eager to be together.

  The initial stage of this enthusiasm and passion is usually not long.

Because when lovers spend more time together, they know each other better, and they will find something unattractive on the other side.

In addition, their wills also started to conflict. The two did not always agree. Their needs began to change. They found that what attracted them to each other at the beginning became bored, so the two sides began to think about their love.Towards the end.

They asserted: Love is dead.

At this stage, some lovers usually quarrel, while others avoid each other and are in a “cold war state.”

At this stage, lovers also start to blame each other for their pain, and each other’s love is retained and weakened.

One or both parties are looking for new friends, hoping to start a new romantic love, Mr. B just abandoned the second stage and the most difficult stage of love, want to return to the first stage of the romantic stage of love, and develop with third partiesA new relationship.

  If we are willing to know ourselves and the people we love more, and if we are willing to use our will to help us grow and become more perfect, then we can reach the third stage of love relationships, namely wise love.

At this stage, love relationships are strengthened by a higher degree of self-knowledge and mutual recognition.

We are more aware of each other’s strengths and weaknesses, and more sensitive to each other’s needs and abilities. We become more patient with others and no longer need competition.

We are willing to encourage each other, take a holistic view of each other, acknowledge each other’s bright side and help each other to progress and grow.

Waywardness is a child’s normal psychological needs

Waywardness is a child’s normal psychological needs

Demystifying the nature of the baby’s willfulness. Because 1 willfulness is the baby’s doubts in the heart, it becomes the baby’s growth and development. They are increasingly exposed to various things. These things give the baby a lot of unexpected troubles.The question in my heart, baby always hopes to reset it by his own way.

  For example, he doesn’t understand why an adult rolling pin can roll out a round skin, but the small rolling pin that his mother gave him is not good, so he has to try the big rolling pin that his mother uses.

So in the eyes of adults, his wayward behavior appeared.

  2 Wayward is the baby’s curiosity in satisfying his heart. The baby in the independent budding stage is full of curiosity about everything.

For example, what baby always loves to do when he eats is to mix solid food with liquid food; to crush solid food; to pour liquid food all over the place . In fact, he is eager to explore all kinds of thingsRelationship and the characteristics of each thing, but do not want to cause trouble.

But without this method, how can the baby know the world again?

  3 Wayward is that baby understands the rules of the environment. There are artificial rules in various environments of this world.

Baby just came to this world and naturally do n’t understand it, so there are no rules in his heart. He can only do whatever he wants. When the baby breaks the rules unknowingly, the adult will come out and discipline them.Way, they understand and learn the rules of the environment and the appropriate scale for their behavior.

  4Willfulness is the baby’s bottom line. Each pair of parents has its own unique style of work and perspective on things. As the baby grows up, he knows his parents at the same time. He knows what parents want to be some kind of person and what they want to do.Thing.

When his experience is not enough, he will first focus on expressing his needs, and then translate it into the experience of getting along with his parents, so that he will know what to do in the future to gain more parental approval.What to do to better achieve your goals.

  3 Ways to Deal with Baby’s Wayward Behaviors Correctly 1 Look at your baby’s wayward behavior with a tolerant attitude. More understand and pay attention to your baby’s wayward behavior, and remind yourself more that your baby just wants to know more about the world.

Therefore, in the case of no principle problem, try not to use adult standards to ask the baby, and give the baby a more relaxed exploration environment.

  2 Use rational thinking to treat baby’s willful behavior. Parents must make judgments based on the actual situation at the time, and take different measures according to the situation.Do not blindly indulge or blindly request.

  3 Use good methods to guide your baby’s willful behavior. If you always ask your baby forcibly, it will have a bad effect on your baby’s psychological growth. Therefore, you must take a variety of methods in treating your baby’s willful behavior.
  The usual step is to first judge whether the baby’s willful behavior is to be controlled. If it is not very dangerous, does not interfere with others, and just explores the behavior, he will monitor as much as possible to give him more space for exploration.

  BIf you need to control, think about whether there is a game way to guide his behavior to your ideas.

  C game also tell him the truth, why do you want him to do this instead of that.

5 benefits of soaking feet in winter vinegar

5 benefits of soaking feet in winter vinegar

In “Ten Ren Ji”: “All kinds of fruits, cough and health” said the effect of vinegar.

Drinking vinegar often in daily life can soften blood vessels and eliminate fatigue.

Many MMs will experience cold hands and feet, dull skin, and inelasticity in winter. So, how should MM skin care in winter?

We can wash the skin with vinegar and water to improve the absorption of nutrients into the skin, thereby enhancing the vitality and softening of the skin; and we can also soak the feet with vinegar, which can compress and strengthen the body and moisturize the skin.

Here we will introduce the five major benefits of vinegar soaking feet: TCM believes that the foot is the root of human beings, and there are enough 75 reflection areas with important therapeutic value. Frequent vinegar soaking feet can be used to adjust the meridians to promote Qi.Blood runs to help balance yin and yang.

Sticking to soak your feet with vinegar for a long time can not only improve the quality of sleep, but also improve the strength of the body and the enhancement of resistance.

  Decompression often uses vinegar to soak the feet, which can coordinate the excitement of the sympathetic and parasympathetic nerves, thereby regulating and relaxing the originally nervous nerves.

Especially white-collar workers who work hard during the day often use vinegar to soak their feet. In addition to alleviating the muscles of the feet wearing high heels, they can also exert decompression on the body.

  Promote blood circulation In the winter, the cold hands and feet are often caused by the impaired blood circulation of the body. Using vinegar to soak the feet can accelerate the blood circulation of the human body, improve hypoxia caused by long-term immobility or fatigue in various parts of the body, enhance metabolism, and improveCold hands and feet.

  Improving beriberi Many people have beriberi, which means that friends in Hong Kong’s feet will be upset. The feet will always itch, peel, and smell, which are the consequence of dust infection.

So using vinegar to soak your feet can sterilize your feet, but try to ensure that your feet are not hurt, so you can improve your athlete’s foot.

  Moisturizing the skin Many MMs will have dry and cracked skin in winter. At this time, it does not prevent trying to soak the feet with vinegar for 1 week. You will notice that the skin on the alternating feet becomes smooth, and the skin on the body and the face also becomes smooth.Increasingly shiny and moisturizing.

  The above are the 5 benefits of using vinegar to soak your feet in winter. Vinegar is a very good skin care food. We can also mix vinegar with glycerin at a ratio of 5: 1, and then apply it on the face. Keep using it. The skin can be smooth and smooth., Reduce the growth of wrinkles!

So you who love beauty, act quickly and try it!