Wu Lei came off the bench to change to a new position, making it difficult for the Spaniard to lose three straight games

Wu Lei came off the bench to change to a new position, making it difficult for the Spaniard to lose three straight games
In the La Liga league that ended last night in Beijing time, the Spaniard lost to Villaril 0 to 1 after a coach change and suffered a three-game losing streak.Wu Lei came off the bench as a substitute, and as the right wing guard he almost made a penalty.The confrontation with the “yellow submarine” was Machin’s first game after succeeding Gayego as the Spaniard’s coach. The new coach discharged a 3-4-2-1 formation.In the 17th minute of the opening, the home team suffered a blow, and Ecumbi succeeded in shooting, breaking the deadlock.The Spaniards who stepped up their offensives have since received many opportunities, but unfortunately they have all been reduced.In the 77th minute, Wu Lei came off the bench.The Chinese players changed their positions under the new coach and acted as the right wing guard after playing.Wu Lei came off the bench.In the tens of minutes of playing, Wu Lei got two chances. In the 83rd minute, Kaleri’s shot was saved by the other goalkeeper, and Wu Lei’s supplementary shot was blocked again; after 4 minutes, Wu Lei’s crossThe ball was blocked by the opposing defender. The referee first awarded Villarreal a handball foul and gave the Spaniard a penalty, but the penalty was cancelled after VAR intervened.In the end, the Spaniard, who scored 17 shots at home, drank hatred at home, suffered a three-game losing streak, and continued to struggle in the relegation zone.The Spaniards were all scored low after the game and Wu Lei scored 6.2 points, Spanish media believes that Wu Lei’s playing time is too short, and did not get much room to play.Editor Zhang Yunfeng proofreading Wu Xingfa

Love Apartment 5 is the final season, the director promises to give all characters a good ending

“Love Apartment 5” is the final season, the director promises to give all characters a good ending
On January 7, the TV series “Love Apartment 5” was held in Beijing Antiques.Director Wei Zheng, leading the role of Lou Yixiao, Li Jiahang, Sun Yizhou, Li Jinming, starring Zhang Yiduo, all the results were present.It is reported that “Love Apartment 5” will be the final season of the “Love Apartment” series.Facing whether the audience would continue to shoot at the strong request of the audience, Wei Zheng said bluntly, “No.There will be no more sequels.”A few leading actors on the scene shared their most impressive lines again, and at the end of the press conference, they bowed deeply to the fans who supported” Love Apartment “.Lou Yixiao said emotionally, “This is the last press conference of the” Love Apartment “series. Thank you for your company.”It is reported that” Love Apartment 5 “will soon be broadcast on iQiyi.The first season of “Love Apartment” aired in 2009, ten years ago.Talking about why “Love Apartment 5” is the last season, Wei Zheng choked: “I think that everything, life and death, has its life cycle, and the drama is the same.”It is the best choice for everyone to end it at this moment, to freeze the good times in everyone’s memories, instead of becoming something we do not like one day in the future.”Wei Zheng said that he will give all characters a good ending in” Love Apartment 5 “and hope to give a good account to all audiences who love” Love Apartment “.Both the director and the actor cherish the shooting of the last season.Wei Zheng revealed that in the past the actors wanted to finish shooting soon and go back to rest early, “But this time everyone thinks that some scenes they don’t want to shoot because they are gone.”And we also really want to stay at the end of the season. Everyone has a farewell in the apartment.””Among the actors, Li Jiahang is the most advanced group. He laughed at the scene and said he had hesitation, but” the end of your hesitation will not become a factor for you to consider, because your heart has already made up your mind.”After Sun Yizhou’s previous work was killed in Hengdian, he drove himself directly into the group for five hours.In “Love Apartment 5”, after many years of long-distance love, the old guests of the Love Apartment have all achieved positive results.Zeng Xiaoxian (Chen He) and Hu Yifei (Lou Yixiao), who “loved and killed each other,” finally entered the marriage hall.After Lu Ziqiao (Sun Yizhou) and Chen Meijia (Li Jinming) married, “identity upgrade”, Lu Ziqiao turned into a “golden grandfather” to show off her baby everyday.Unlike these old friends, Zhang Wei is still a “mystery.”Li Jinming revealed that in the first four seasons, Chen Meijia and Lu Ziqiao did not have a good relationship, “and after this season, Meijia found that she loved the most is Yi Fei (laughs).”Sun Yizhou shot a week in some toilet-related scenes.”Sun Yizhou found at the scene that the rehearsal lasted only five days, and there was another day of rehearsal with makeup.Wei Zheng also responded to the doubts that may exist after the broadcast of “Love Apartment 5”.He said that at the first moment of making a decision, he knew that the future of this drama would not be calm, and his choice was to face it calmly, “In fact, this drama is like everyone ‘s growth experience to some extent.There are a lot of regrets, but I think it doesn’t matter, we can overcome it.”Love Apartment 5” is the moment when we try to start anew and give everyone a reply again.We put all our love and hard work into this play, and there is no regret when we try our best.”Sauna, Ye Wang Zhang He editor Wu Dongni proofread Chen Diyan

Tianqi Lithium (002466): The bottom of the industry is now or will be

Tianqi Lithium (002466): The bottom of the industry is now or will be

The industry has bottomed out or is about to bottom out, and the high probability of demand in 2020 will be better than the high probability of the industry in 2019. It will bottom out in the second half of 2019. There are some possible industry downturns that will be postponed to the first half of 2020.

From three perspectives, we believe that the industry has the highest probability of bottoming in the second half of 2019, and may continue into the first half of 2020 under relatively pessimistic conditions.

From the demand side of 2020, the probability is 武汉桑拿 better than 2019.

One is that domestic efforts will be made to achieve the policy goal of 2 million electric vehicles; the other is that 2020 will be the year when overseas car giants launch models on a large scale.

From the perspective of the long-term industry space, it is estimated that there will not be much difference in the demand space for lithium products. First, the global trend of electrification of automobiles has just begun. This is obvious; second is the trend that energy storage will inevitably rise.This point of concern may not be that high.

With the increasing installed capacity of photovoltaic and wind power, and the lower and lower cost of lithium batteries, and the better and better performance, energy storage will inevitably rise at some point, greatly driving the demand for lithium batteries. We 杭州桑拿体验网 mayGetting closer to the tipping point.

Looking at energy storage in the long term, it is expected that the demand for lithium batteries will greatly increase and will exceed the demand for lithium batteries for electric vehicles.

Tianqi Lithium Co., Ltd. has deployed the world’s lowest-cost lithium concentrate and salt lake. For mining companies, the core competitiveness is cost. Low cost means that they can survive when the industry is in a downturn and resist the winter.At that time, you can make a lot of money.

Tianqi Lithium Co., Ltd. has deployed the world’s lowest-cost lithium concentrate and salt lake, which is the advantage of the card position.

From the perspective of the distribution of lithium ore resources, the reserves and grade of the Green Bush mine are ranked first in the world.

From the perspective of the distribution of methane, SQM’s Salar de Atacama has a lithium reserve of 4,290 length LCE, which is the largest brine reserve in the world. The lithium grade is 1840ppm, which is the highest grade of all halides.

The allocation of shares was approved, and the financial risk caused by the large amount of debt to acquire SQM equity was eliminated. The biggest risk before Tianqi Lithium was the capital risk of large amount of debt to acquire SQM equity.This risk has basically been eliminated in the application of rights issue.

The potential part of the previous implied this risk, then there must be a repair process after the risk is eliminated. After this process is completed, gradual changes are sufficient to make the fundamentals of the industry and the company.

We estimate that the company’s net profit attributable to its parent for 2019-2021 will be 4.

06/10.

25/19.

22, the corresponding PE is 81/32/17 times, maintaining the “strongly recommended” level.

Risk warning: production capacity advances less than expected, product price fluctuates

Midea Group (000333): 3-year 10 billion repurchases sound the horn of changes in the A-share valuation system

Midea Group (000333): 3-year 10 billion repurchases sound the horn of changes in the A-share valuation system
Introduction: Midea Group announced on the evening of February 21 that it will conduct a new round of stock repurchase with a size not exceeding US $ 5.2 billion.Through the scheme itself, we calculate the scale of equity incentives and potential EPS thickening space behind the dividend. From the perspective of individual stocks, the determined return from distribution + repurchase thickening reaches 4%?From a broad perspective, Midea Group, as the first domestic company to use large repurchases as a normalized shareholder return tool, will bring far-reaching results to the A-share estimation system and governance ecology.influences. Event: Midea Group launched a new phase of equity repurchase, 南京夜网 with a repurchase scale of more than 10 billion U.S. dollars in 2018-2020. Midea launched a new round of stock repurchase for subsequent distribution incentives, with a total size of no more than $ 5.2 billion.On the evening of February 21, Midea Group issued an announcement that the company repurchased 40-80 million shares in circulation at a repurchase price of not more than 65 yuan / share (earlier closing price premium of approximately 20% on February 21).Within 12 months from the date of approval by the board of directors, the total repurchase amount is expected to not exceed 5.2 billion.The repurchased shares will be used to implement the company’s equity incentive plan and / or employee shareholding plan. If the company replaces the implementation of the use within 36 months after the completion of the share repurchase, the unused portion will be included in the relevant program replacement. The company has repurchased 40 million U.S. dollars in shares in 2018 and 3.2 billion in repurchases since February 2019. Adding this repurchase program, the repurchase amount is expected to exceed 10 billion in three years.As a benchmark enterprise of the modern corporate governance system, Midea opened the shareholder cash return model of dividend + repurchase against the background of high book cash. Subsequent stock repurchase or normalization, repurchase + dividend corresponds to 4%?The 5% deterministic gain was launched immediately following the previous period.In 2015, the company had bought back 10/40 trillion shares in 2018 and replaced them.In November 2018, the Opinions on Supporting Listed Companies to Repurchase Shares issued by the Securities Regulatory Commission, the Ministry of Finance, and the SASAC jointly proposed that various types of listed companies be repurchased shares in accordance with the law for the implementation of incentives for distribution and employee shareholdingplan.The company announced on the evening of February 22, 2019 that it repurchased 0 shares.6-1.200 million shares, and continue to be used to implement the implementation of the distribution incentives / employee stock ownership plan.As of February 21, 2020, the plan is terminated.The company repurchased a total of approximately 62.18 million shares, accounting for approximately 0 of the total share capital.89%, the repurchase amount is about 32 billion. The normalization of stock repurchases maintains market confidence in the short term and increases shareholder equity in the long run.Passing the repurchase plan in 2019 and this time, taking into account the company: 1) the normalized incentive system (equity incentives, multi-level incentives such as partner holdings and replacement stocks); 2) high book net cash assets (continuous 2019In the third quarter report, the scale of net cash assets reached 733 billion.) We expect the company’s stock repurchase program to gradually become normal. With the combination of equity repurchase and equity incentives, the company can choose to buy the company’s stock at a previous low to maintain sustainability and enhance investor confidence.More importantly, considering that the return rate of cash is far lower than the return rate of the company’s operating assets (the company’s ROE is maintained at about 25%, excluding cash drag is even higher), accumulating cash dividends and repurchases can improve the use of book cash.And improve shareholder returns. Dividend + repurchase brings a deterministic return of 4%?5%.From the comparison of the company’s repurchase scale and the dynamic and fair incentive scale, the company’s repurchased share capital will account for about 1% of the total share capital each year in 2019-20, and the actual partner holdings (about 5 million shares) and treasury stock incentive(Approximately 30 million shares), accounting for 0 of the total share capital.5%.Considering the remaining treasury stock earnings, the EPS increase for the company is about 0.5%.Before the company can implement share repurchase by implementing share repurchase, the company’s merger of shares adopts a targeted issuance model with a dilution ratio of zero.About 5%.Therefore, under static measurement, the repurchase ratio is about 1% of the company’s EPS thickening. Considering the company’s rapid accumulation of book cash, we believe that the company’s subsequent cash dividend ratio can also be appropriately optimistic (the previous period was basically stable at 40?45%), with a 50% dividend expectation, the company’s potential return is about 3.6%?3.8%.Combining repurchase and cash dividends, the company’s certainty of return can reach 4%?5%.Considering stable performance growth, the company expects an annualized return of more than 15%. Although there is an epidemic in the short term, the medium and long-term value of high-quality consumer stocks is not changed. The trend of epidemic affects industry demand, but the company’s deterministic advantage in the short and medium term remains.Under the influence of the epidemic, the demand of the home appliance industry from January to February was affected to a certain extent.It is expected that the forecasted quarterly performance will have some impact.However, the dividend of the company’s gradual improvement in air-conditioning channels since 2019 continues to ferment.In January 2020, we will continue to take the initiative to take the initiative, and through active promotion (earlier in 2019, the promotion point will be further advanced), which will increase the monthly and online air-conditioning sales by more than 10pct.It is expected that the overall performance of the company’s fundamentals in the first quarter of 2020 will still significantly restructure the industry. Taking into account that the company’s other current debt subjects have experienced rapid growth in 2019 (the third quarter report of 2019 is increased by about 10 billion compared with the 2018 annual report), it indicates that the expenses are fully accrued and cautious, and the industry scale is further tightened gradually, and the company’s fundamental growth in 2020The certainty is still leading.Considering the rigid demand for home appliances, the company’s performance expectations are not adjusted temporarily. Then mention the PB-ROE estimation framework of consumer stocks.From the experience of overseas markets, PB-ROE is a mature investment framework for the consumer goods industry and companies.Because consumer products companies in mature stages often face relatively stable downstream demand and can maintain stable profits and cash flows without large capital expenditures and cash expenditures, the level of ROE directly represents the level of cash returns and core assets that shareholders can getHigh or low value. Cash + dividends are an important logical chain for cashing in mature consumer stocks and assessing switching.Whether it is Coca-Cola or McDonald’s, in the short-term expansion phase, cash obtained from operations will use cash dividends and share repurchases to cash out ROE returns to shareholders.Under the outstanding cash flow level of domestic appliances, the overall dividend and repurchase rate are relatively relative.Book cash levels have climbed all the way. Considering that the cash return rate is far lower than the company’s actual ROE level, the use of cash dividends + share repurchases is the best way to maximize shareholder benefits. Midea is the best model for the estimation logic of A-shares toward high-quality consumer stocks in the US.Forever in the home appliance sector, Midea’s corporate governance level is also a benchmark in A shares.Outstanding corporate governance is an important guarantee to protect the company’s prudent capital expenditures, as well as continuous dividends and repurchases, in order to maximize shareholders’ interests. This is the core point of the PB-ROE estimation framework to match the value of the company. Midea has carried out three stock repurchases in three years, and the repurchase amount is expected to exceed 10 billion yuan, and we believe that the normalized repurchase + high cash dividend ratio will gradually become the company’s follow-up trend.This releases a positive signal of the value of a high-quality consumer leader, and supplements the changes in the structure of external funds (long-term and overseas funds increase, and the expected return on capital returns to inertia). We believe that changes in the equity consumption sector estimation system will usher in structuralConversion: from PE-G (focus on extended indicators) to PB-ROE (anchoring of ROE and cash returns) Investment advice Midea launched a new stock repurchase after the expiry of the 2019 repurchase program. It is expected thatThe repurchase scale from 2018 to 2020 exceeded 10 billion.Under the guarantee of good governance structure, we believe that the company’s subsequent normal stock repurchase and high cash dividends are worth looking forward to.And the promotion of dividends and cash repurchase to convert the mature consumer stocks into an important logical chain of the PB-ROE estimation framework, and at the same time, changes in the capital structure of dividends, the mature consumer leading estimation system helps to gradually evolve to US stocks. Despite the short-term impact of the epidemic, the US’s 2020 initial fundamental growth is still the most certain. Maintain forecast company 19?The 21-year EPS is 3.48/4.05/4.59 yuan, corresponding to PE is 16/13/12 times. The repurchase program helps to stabilize market sentiment and company mergers in the medium and long-term. In the medium and long-term, the company’s strategy is forward-looking, governance is leading, and the price changes caused by short-term epidemics are just the right buying points for medium- and long-term funds.Rating. Risk Warning: The impact of the epidemic is greater than expected, real estate sales / completion is lower than expected, and industry competition exceeds expectations.

SDIC Power (600886) 2019 First Quarterly Report Review: Results Meet Expected Changes in Electricity Prices

SDIC Power (600886) 2019 First Quarterly Report Review: Results Meet Expected Changes in Electricity Prices

Operating income for the first quarter of 2019 increased by 7.

64%, net profit attributable to mothers increased by 6.

14% of the company’s 2019Q1 operating income +7.

64% to 101.

1.5 billion, net profit attributable to mother +6.

14% to 10.

5 billion yuan, performance in line with expectations.

The growth of water supply and the new installed capacity of thermal power drive the growth of power generation12.

74%, electricity price 上海夜网论坛 profit 7.

03% of the company’s 2019Q1 total power generation +12.

74% to 378.

6.6 billion kilowatt-hours; of which hydropower generation +9.

39% to 198.

7.4 billion kilowatt-hours, mainly because the Yalong River has better incoming hydropower, with a power generation capacity of +7.

40% to 172.

09 billion kilowatt hours.

Thermal power generation +15.

72% or 23.

3.6 billion kWh to 171.

9.7 billion kWh was mainly put into operation in June 18 of the second phase of Beijiang, and the northern Xinjiang company issued 17 in 19Q1.

3.3 billion kilowatt-hours; Gansu’s outbound electricity supply increased, and Jingyuan No. 2 Power Plant added 7.

1.4 billion kilowatt hours.

The company’s average on-grid tariff including tax is -7.

03% to 0.

308 yuan / kWh; of which hydropower-12.

50% to 0.

254 yuan / kWh, mainly the Yalong River electricity price -14.

14% to 0.

258 yuan / kWh; thermal power price -4.

05% to 0.

360 yuan / kWh.

With the expected interest rate reduction of 3 pct since 19Q2, we expect that the electricity price index will improve the comprehensive gross margin and yield slightly earlier in 19Q1. ROE will decline slightly.

45 pct to 39.

91%, rated ROE drops to 0.

58 pct to 2.

61%.

We judge that the slight decline in comprehensive gross profit margin is the hedging result of lower electricity prices and lower coal costs.

Company investment income +35.30% to 1.

100,000 yuan, mainly due to the increase in profits of participating companies; other income -83.

53% to 0.

1.8 billion, mainly because the Yalong River and Dachaoshan tax refund policy expired.

The asset-liability ratio was steadily declining, driving the financial expense ratio downward, the cash flow continued to increase by 19Q1, and the company’s asset-liability ratio was downgraded by 3.

07 pct to 67.

28%; financial expenses -1.

57% to 11.

84 ppm; decrease in financial expense ratio by 1.

09 pct to 11.

71%; during the period, the expense ratio drops to 0.

62% to 14.

81%; net operating cash flow +0.

55% to +41.

9.5 billion.

Investment suggestion: highlight the value of allocation and maintain the “overweight” rating. We maintain our forecast for the company’s revenue in 2019-2021 to be 419.

26/420.

92/435.

6.7 billion, net profit attributable to mother 46.

71/49.

31/52.

5.7 billion, corresponding to a dynamic PE of 11.

7x / 11.

1x / 10.

4 times.

The hydropower business provides defensiveness, and expects the subsequent investment in the construction of Yazhong Units; the thermal power business’s flexibility in the downward cycle of coal prices; maintaining the “overweight” level, a reasonable estimate10.

90-11.

01 yuan.

Risk Warning: Saturation of incoming water, increase of electricity price, decrease of electricity demand

Bethel (603596): Annual report performance surpasses expectations and raises profit in 2020

Bethel (603596): Annual report performance surpasses expectations and raises profit in 2020

Event: The company released a 2019 annual performance forecast in the evening, and the previous net profit is expected to increase by 1.

5-2.

0 billion, previously + 65% -85%; non-net profit after deduction increases by 1.

3-1.

700 million, previously + 60% -80%.

Fourth quarter results continued to improve, raising 20 results to 6.

0 billion, EPS is expected to be 1 in 19-21.

01/1.

46/1.

86 yuan, corresponding to a maximum of 18Xpe in 20 years, maintaining the “strongly recommended -A” level.

Comments: 1. The fourth-quarter performance exceeded expectations. The 2020 profit forecast was raised based on the company’s performance forecast range. The company’s long-term net profit is expected to be 3.

9-4.

400 million (+ 65% -85%), of which in the fourth quarter was 86 million-1.

3 billion (+ 630% -1030%).

Taking into account the company’s accrual of BAIC Yinxiang’s receivables and inventory impairment of 84 million 深圳桑拿网 yuan in the fourth quarter of last year, we expect that based on careful consideration, a certain proportion of expenses will still be accrued in the fourth quarter of this year.

If you look back at the respective costs of 18Q4 and 19Q4, it is expected that the internal net profit of 19Q4 will be about 1.

3-1.

800 million (previously + 33% -83%), a month-on-month increase of + 12% -54%; it is expected that the return to retrospective fee performance in 2019 will be 4.

3-4.

800 million.

Tracing back to the source, the endogenous performance was better than the previous year, exceeding the market expectations.

We believe that the main reasons include the following aspects: First, the company’s lightweight business continued to increase, bringing revenue and profit flexibility.

The gross profit margin of lightweight business is above 30%, and the profit structure is constantly optimized.

GM’s Mexico business continued to climb, with new signings in the US and Canada. The business began to climb in small batches, bringing pure incremental growth.

Second, the EPB business is growing rapidly with the new supporting models Changan CS75Plus, Geely Binrui, and Binyue.

In the third and fourth quarters, the production volume of automobiles recovered, and traditional discs had a recovery performance.

2. Race track 1: Chassis brake car electronics leader, epb domestic replacement fast uptake, BBQ 2020 mass production EPB electronic parking segment industry to maintain a growth of more than 15%, we expect the company to be in the 800-85 million in 19 yearsIt is an absolute leader of independent brands, but the current industry market share is only about 7%, and domestic alternative space transmission.

With the penetration rate of superior customers Chery, Geely, and Changan increasing, they entered the supply chain of Dongfeng Nissan and JMC Ford, and also actively contacted other joint venture brands, making rapid progress.

It is expected that the EPB business will maintain a growth of more than 30% in 20 years.

At the same time, the company ‘s disc brakes—EPB electronic parking—brake-by-wire products have a clear technical route. It is expected that the brake-by-wire products will be put into production in 2020. The brake-by-wire is suitable for new energy and smart driving products above the L2 level.
3. Track two: Lightweight chassis system supplier supporting GM North America. The multi-category expansion company is the leader in domestic lightweight steering joints. Recently, it has combined with GM Mexico, the United States, and Canadian factories to add 500 million annualized orders to prove its strength. BasicCovers all models except A-class vehicle platforms.

The volume of North American business is expected to contribute + 50% business growth, meanwhile, the lightweight chassis business industry is growing rapidly, and the gross profit margin above 30% optimizes the profit structure.

Seeing subsequent growth and reorganization, the company actively cooperates with other OEMs in the North American market to obtain incremental space, reorganization, the company reduces composite processes such as low-pressure die-casting, forging, and continuously expands categories on the basis of steering knuckles to increase the value of bicycles and lighten the value of chassis and bicyclesAt around 3,000 yuan, the company’s steering knuckle products range from 200-400 yuan for bicycles with space penetration.

Risk Warning: 1.

Downstream customer volume is less than expected risk; 2.

The possibility of bad debts of customers at the end of the independent brand; 3.

Risks of Business Volatility in the U.S. Market

Gaode Infrared (002414) Performance Express Commentary: Net profit increases by 1 every year.25 times the model of civilian participation

Gaode Infrared (002414) Performance Express Commentary: Net profit increases by 1 every year.25 times the model of civilian 上海夜网论坛 participation
Net profit grows by 1 every year.25 times.The company achieved operating income in 201810.$ 8.5 billion, an annual increase of 6.69%; operating profit 1.1.3 billion, an annual increase of 1.97 times; profit totals 1.$ 4.4 billion, an increase of 1 per year.51 times; net profit attributable to shareholders of the listed company.USD 3.1 billion, an annual increase of 1.25 times; budget benefit 0.21 yuan.The company achieved net profit attributable to shareholders of listed companies of RMB 34.47 million in the fourth quarter.The increase in the growth of net profit is definitely the best way to recover the receivables, and the asset impairment loss will increase at least; and the company enjoys the relevant state benefits. High R & D investment ratio, optimistic about the company’s sustainable innovation 厦门夜网 capabilities.In the first three quarters of 2018, the company’s R & D investment1.2.2 billion, an annual increase of 23.7%, accounting for 23.94%.The company’s R & D recovery in 2015, 2016 and 2017 were 1 respectively.6.8 billion yuan, 2.2.3 billion, 2.48ppm, accounting for 26% of operating income.55%, 27.51%, 24.39%.The company’s continuous large-scale R & D investment provides worthy support for the company’s future product innovation and performance growth. Infrared thermal imager and integrated optoelectronic system: strategic layout advantage of the entire industrial chain, core components are autonomous. The company has the “China Infrared Core” with completely independent intellectual property rights, and has created three infrared focal plane detector production lines for non-refrigerant, refrigerant mercury sulfide and “type II superlattice” detectors, breaking the blockade in the West for many yearsThere are many types of detectors such as medium wave, medium and short wave, and medium and long wave dual color detectors, which have successfully developed wafer-level packaging technology.The company’s core device technology level has been the same as that of the first echelon in Western countries, and it has successfully achieved the comprehensive advanced core device, which has replaced the foundation for the replacement of core devices for large-scale follow-up. The company actively expands the application of infrared technology in the civilian field.The civil market applications include personal vision, industrial inspection, inspection and quarantine, smart home, consumer electronics, police enforcement, traffic night vision, environmental protection, etc.The company has successively established subsidiaries such as Zhigan Technology, Xuanyuan Zhijia, Anxin Technology, etc. to expand the civilian sector. Although these subsidiaries have been replaced at present, it has a certain drag on the performance of existing companies, but the civilian market has a very broad space for the company.Increasing basis for future performance growth.In 2017, the company announced the opening of its existing technology platform to build an infrared ecosystem.In the field of smart home, the company and Midea set up a “Thermal Infrared Sensor Joint Laboratory”. Benefit from military-civilian integration and maintain the company’s “cautious recommendation” investment rating.The company successfully built a complete industrial layout of weapon equipment systems with infrared technology as the core. The company has formed a weapon sub-system ranging from upstream infrared core devices to infrared thermal imaging, laser, fire control, guidance, and finally the entire missile weapon system as a whole.The entire industrial chain of infrared weapons and equipment systems.With the implementation of the military reform plan measures, the company’s existing military product research and production tasks are expected to be fully resumed. In December 2018, the company won 3.9.5 billion military orders.We expect the company’s EPS to be 0 in 2019 and 2020 respectively.34 yuan, 0.43 yuan, the current sustainable corresponding PE is 73 times, 58 times. Risk warning: Product demand is lower than expected, policy risks.

When the baby first arrives, Mo urgently uses a bottle

When the baby first arrives, Mo urgently uses a bottle

Breast milk is the best food for newborn babies, but some moms cannot let their babies eat breast milk for some reason.

Today, there are many types of infant formulas on the market, and the functions are developed very carefully and very well.

Although it can not completely replace breast milk, it is indeed the best choice for babies with insufficient or no breast milk replacement at all.

How to properly feed your baby with formula?

  Did you know that using a bottle incorrectly can affect your baby’s health.

After the baby is born, some new mothers don’t have a lot of milk, so immediately feed the baby with milk or water.

In order to save trouble, other new mothers continue to use bottles when their babies are two or three years old.

Can you think of these errors correcting your baby’s health is very bad.

  How to use a feeding bottle correctly?

How to drink a healthy baby with a bottle?

When should I abandon the bottle?

Whether it’s breast-feeding or artificial-feeding babies, “feeding bottles” are the most important survival tool for babies.

  Mothers ca n’t ignore the university in the small bottle. Newborn baby: Do n’t use the bottle to feed the baby first, but the new mother has no milk yet. At this time, some parents are afraid of the baby ‘s hunger and start feeding the baby with the bottle.

But in fact, the baby has just been separated from the mother’s body, and there are still some nutrients in the body that can survive, rather than being particularly eager to eat.

If your baby sweats a lot in the hot summer, use a small spoon to feed him less water.

But never use a feeding bottle, let alone feeding milk.

  Because under normal circumstances, sucking a pacifier is easier than sucking breast milk. If the baby is fed with milk after feeding, and then replace it with breast milk, the baby will be prone to nipple illusion, especially prone to milk rejection and irritability.Difficulty in breast milk will not only prevent the baby from getting the nutrients contained in the colostrum, but also cause the new mother to swell and cause mastitis.

Infants and young children do not suck on their mother’s nipples, or they can cause new mothers to lose milk.

  The correct way is that after the baby is born, it starts to squeeze the new mother’s nipple artificially, and starts to let the baby suck the mother’s nipple. At this time, a clearer milk can be seen, this milk is called colostrum.

Colostrum is rich in protein, trace amounts, and sugar that your baby digests and absorbs, and it is also rich in a large amount of immune substance IgA and lysozyme with bactericidal effect.

These substances can protect your baby from being susceptible to disease, prevent preventive reactions, and enhance your baby’s resistance to disease. They are the ideal natural food for your baby.

  Colostrum can give babies a strong passive immunity. Babies who have sucked colostrum have a significantly lower incidence of physical jaundice. Babies who do not suck colostrum are susceptible to diarrhea, upper respiratory infections, and even pneumonia.

Therefore, unless the mother’s milk is insufficient, let the baby copy the mother’s nipples and try to suck continuously, stimulate the breast with the baby’s sucking power, restore the breast milk secretion, and cause the new mother’s uterus to regenerate and reduce postpartum hemorrhage.

You know the five amazing effects of moxibustion

You know the five amazing effects of moxibustion

Traditional Chinese medicine moxibustion has a long history, and it has been perfected since its spread. It has always been a good health and therapeutic effect.

Next, let’s introduce the major effects and benefits of traditional Chinese medicine moxibustion . One, warming meridians: clinically used to treat cold coagulation retention, cold and dampness pain caused by meridian obstruction, dysmenorrhea, amenorrhea, stomachDysentery, cold kidney abdominal pain, diarrhea, dysentery.

  Second, Fuyang Gutuo: clinically used to treat dehydration and insufficient gas, enuresis caused by sag of qi, prolapse of the anus, Yin Yin, collapse, leakage, chronic discharge, etc.

  Third, swelling and loosening: often used for the treatment of qi and blood stagnation disorders, milk palate beginning.

  Fourth, disease prevention and health care: enhance the ability to resist disease, make people feverish, and help longevity.

  Fifth, heat lay: for some fevers such as shingles, erysipelas, etc. can achieve the effect of “inducing hot air to stagnate fever”.

Healthy recipes for your baby

Healthy recipes for your baby

It itself constitutes the main component of the main low-calcium cereals. At the same time, the supply of vegetables decreases, and the absorption of phytic acid, oxalic acid, and plant fiber affects each other accordingly, affecting the absorption of calcium in the interior.

Causes insufficient calcium intake.

Therefore, for children to supplement calcium, it is more important to adjust the diet structure, pay attention to diet, eat more calcium-rich foods, such as milk, fish, kelp, shrimp, beans, laver, etc., and avoid eating with lessVegetables containing phytic acid and oxalic acid after leeches, such as spinach, amaranth, water spinach, bamboo shoots, etc. Here are some examples of recipes with high calcium content for reference.

  Kelp mixed with yuba ingredients: 200 grams of yuba, 200 grams of kelp, 100 grams of cooked pork, 25 grams of carrots, 40 grams of cucumber, 15 grams of sesame oil, 25 grams of cooked soybean oil, soy sauce, vinegar, salt, MSG, garlic, Sesame sauce, chives each amount.

  Production: 1.
Cut yuba filaments, immerse them in boiling water, remove them and cool them.

  2.After washing the kelp, carrots, and cucumbers, cut them into long filaments, cut the cooked lean meat into shreds, and use the appropriate amount of chives and garlic cloves.

  3.Put all kinds of silk materials into the plate, sprinkle with scallion powder, add all the spices when serving, mix well and serve immediately.

  Rape sea rice tofu tincture ingredients: 750 grams of tofu, 125 grams of rapeseed, 30 grams of sea rice, 75 grams of vegetable oil, 10 grams of sesame oil, 7.5 grams of MSG, 8 grams of salt, 20 grams of water starch, and 10 grams of spring onion.

  Production: 1.
Tofu is cut into 1.5 cm cubes. Sea rice is soaked in boiling water and cut into shreds. Rapeseed is washed and chopped.

  2.
Add the oil to the pot, heat it into the onion shabu-shabu, add tofu and sea rice, stir fry a few times before putting rapeseed, add salt, simmer, and finally add MSG and sesame oil to serve.