Is there an insider possibility?After the performance announcement, the two-connected one-net one-net income generation concern letter

Isthereaninsiderpossibility?Aftertheperformanceannouncement,thetwo-connectedone-netone-netincomegenerationconcernletter
OnApril13th,OneNet(300792)receivedaletterofconcernfromtheShenzhenStockExchange.Democracy,aftertheannouncementofthefirstquarterof2020results,thecompanymergedonApril9andApril10fortwoconsecutivedailylimits.Therefore,theOneNetandOneCreationrequiredbytheShenzhenStockExchangeverifythatthereisaninsiderinformationdeviation,andtheexpansionisobviouslymorethanthereasonsfortheGEMCompositeIndex.OnApril9andApril10,Yiwangyichuanghadadailylimitfortwoconsecutivedays;onApril13,thecompany’smergerplateralliedatthebeginning,withanintradayofferof291.88yuan/share,arecordhighinhistory.Attheendoftheafternoon,OneNetandOneCreationfellby2.45%,reported271.45yuan/share.OntheeveningofApril9,OneNetOnetronreleasedthefirstquarter2020performanceforecast.Thedatashowsthat,accordingtothereport’sbenchmark,YiwangYichuangisexpectedtomakeaprofitof46millionto47.95millionyuan,and3239forthesameperiodlastyear.490,000yuan,anincreaseof42%-48%ayear.OnenetOnetronstatedthatthecontinuousreportofthefirstquarterof2020andthegrowthofthesameperiodofthepreviousyearisareportthatthecompany’sbusinessisdevelopingwellandprofitsareincreasing.Theamountofnon-recurringgainsandlossesaffectingthecompany’snetprofitisabout2.13million.Accordingtothe2019performancereportreleasedbyOneNetandOneCreat,thecompany’stotaloperatingincomeincreasedby43comparedwiththesameperiodlastyear.10%,thenetprofitattributabletoshareholdersoflistedcompaniesincreasedby34comparedwiththesameperiodlastyear.34%.Inthisregard,theShenzhenStockExchangerequiresOneNetandOneCreattoexplaintheformationprocessofthefirstquarterperformanceforecastinformationandinformationconfidentiality,andverifywhetherthereisanyinsiderinformationconflict,andatthesametimereporttheinsiderinformationinsiderlisttotheShenzhenStockExchange,andrequestthecompany’scurrentSustainability,price-earningsratio,price-to-bookratioandchangesincomparablecompaniesinthesameindustry,companyoperationsandfundamentals,etc.,analyzethereasonswhytheexpansionratehassignificantlychangedtheGEMCompositeIndex,andgraduallyallowthecompanytograduallyexpandtofullypromptrisks.Inaddition,onMarch16,OneNetandOneCreatcopiedtheannouncementon”PlanningforEquityAcquisition”.Thecompanyiscurrentlytradingwithacompany’sshareholders,andthecompanyintendsnottoexceed3.Theacquisitionof51%equityofthetargetcompanyforaconsiderationof800millionUSdollarstoterminatethecurrentprogressoftherelevantmattersnotfound.OneNetandOneCreat,asrequiredbytheShenzhenStockExchange,explaintheprogressoftheaboveequityacquisitionandinformationconfidentiality,andverifywhethertheinformationisduplicatedortimely,andwhetherthereisinsiderinformationleakage.Atthesametime,theinsiderinformationinsiderlistisreportedtotheShenzhenStockExchange.Sauna,YeWangZhangZeyaneditorSunYongproofreadingHeYan

[Cocktail Girl Fruit Juice Practice]_Cocktail Girl Fruit Juice Home Practice_Cocktail Girl Fruit Juice Practice Daquan_Cocktail Girl Fruit Juice How to do

“The floating cuckoo is sick and tired, and the cuckoo is very hot,” “Boiler, Boiler, Boiler, Boiler, Boiler, Boiler, Boiler, Boiler, Boiler, Boiler”What’s going on? What’s the difference? “Let’s go through it? Do you have a pick?”
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[Can eggs and purple potatoes be eaten together]_Egg_Function_Sure_Benefit

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[How long can soy milk be kept _ How long can soy milk be kept]

銆愯眴娴嗚兘鏀惧涔卂璞嗘祮鍙互鏀惧涔呫€?
The rugged, the rugged, the hazel, the rugged, the rugged, the rugged, the rugged, the rugged, the world, the rainbow, the rainbow, the world, the world, the rainbow, the world, the world, the world, the world, the world, the world, the world, the world, the world, the world, the world, the world, the world, the world, the world, the world, the world, the world, the world, the world, the world, and the world.涘闀夸负浜呜兘澶熻瀛╁瓙镄勮惀鍏诲庞瓒充细鍦ㄥ缁椤瀛愬埗浣滆眴娴嗭纴璞嗘祮链烘槸闱炲父濂界殑涓€绉嶄华鍣ㄣ€傚鏋滆嚜宸卞湪瀹堕噷鍒朵綔璞嗘祮鐨勮瘽锛岃眴娴嗚兘鏀惧涔卂璞嗘祮鍙互鏀惧涔呭憿?涓嬮潰璇︾粏缁欏ぇ瀹惰涓€涓嬭眴娴嗙殑淇濆瓨鏂规硶銆備竴銆佽眴娴嗕繚璐ㄦ湡鏄涔呭洜涓鸿眴娴嗘槸涓€绉嶈泲鐧借川楗搧锛屾湰韬氨瀹规槗鍙樿川锛屾渶濂芥柊椴滈ギ鐢紝鐗瑰埆鏄湪瀹舵湁鏉′欢鐢ㄨ眴I ‘m afraid of the gallium, and I ‘m afraid of the adversity. I ‘m afraid that the version is very different from the original version. I ‘m not sure what ‘s going on, what ‘s going on, what ‘s going on, what ‘s going on, what ‘s going on?絾鏈€澶氬瓨鏀惧洓鍒板叚灏忔椂銆備笉灏戜笂鐝棌鍜屽鐢熶範鎯皢璞嗘祮鏀惧叆淇濇俯鐡舵垨鏄澂瀛愰噷鍌ㄨ棌锛岀瓑涓婂嚑涓皬鏃跺悗鍐嶉ギ鐢紝杩欑鏂瑰紡鏄笉鎻愬€$殑锛屽洜涓哄湪娓╁害閫傚疁鐨勬The most important thing is that it is a good idea. It ‘s a good idea. It ‘s a good idea. It ‘s fine. It ‘s a good idea. It ‘s a good idea. It ‘s a good idea.戒笉寤鸿鏀惧お涔呫€傚叾娆★紝涓嶈鎶婅眴娴嗚窡姘村灑娣峰湪涓€璧The phoenix and the phoenix are the only ones who have been reading the book, and they have been quietly accustomed to it. They are used to the village, and the village is sprinkled with water. It ‘s a good thing. It ‘s so hot.Pu Zuo Zuo Xie Zuo Zuo Qiu Xuan 1 銆 丳 嗶?涓兘澶熷瘑闂€佸張鑳借€愮儹鐨勭摱瀛愶紝姣斿澶┖鐡讹紝鎴栬€呯壒鍒弗瀹炵殑淇濇俯鏉€傛瘡涓摱瀛愮殑瀹归噺澶х害涓庝竴娆″枬鐨勬暟閲忕浉褰撱€傛妸瀹冧滑褰诲簳娲楀共鍑€锛屽啀鏅惧共銆傚鏋Extinction of the original chains and the chains of couplings are the most common ones. The following are the most important ones: the parenting canister drama, the two, the two, the two, the two, the two, the two, the two, the two, the other, the two, the two, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the,椤荤敤鑰愮儹鐨勫櫒鐨裤€傚悓鏃讹紝瑕佹兂璁╂潃杩囪弻鐨勯鐗╅暱鏈熶繚瀛橈紝灏辫淇濊瘉涓嶄細鍐嶆湁缁嗚弻鍜屾哀姘旈捇杩涘幓锛屽洜姝ゅ櫒鐨跨洊涓ヤ箣鍚庡繀椤讳笉閫忔皵銆佷笉閫忔按銆備紭璐ㄧ殑澶┖鐡?”Improved” disease chains, new developments, new developments, new developments, new developments, new developments, new developments, new developments, new developments, new developments, new developments, and new developments.川)鑳藉鎷х揣锛屽緢鍚堥€傜敤鏉ヤ繚瀛樻堡姘寸被椋熷搧銆?銆佹妸娉″ソ鐨勮眴瀛愭斁鍏ヨ眴娴嗘満锛屽悓鏃剁儳涓€浜涙哺姘淬€傚湪鍒朵綔璞嗘祮鐨勭▼搴忓揩瑕佸畬鎴愮殑鏃跺€欙紝鎶婂お绌虹摱绛夊櫒鐨跨敤娌告按鐑竴涓嬶紝璁╁畠閲岄潰鐑捣鏉ワ紝鍚屾椂璧峰埌鏉€鑿屼綔鐢ㄣ€?銆佸湪鍒朵綔璞嗘祮绋嬪簭瀹屾垚涔嬫椂锛屽€掓帀澶┖鐡朵腑鐨勭儹姘达紝椹笂鍊掑叆婊氱儷鐨勮眴娴嗭紝浣嗕笉瑕佸€掑緱澶弧锛岀暀涓嬪ぇ绾︾浉褰撲簬澶┖鐡跺閲忎簲鍒嗕箣涓€鐨勭┖闅欍€?銆佹妸鐩栧瓙鏉炬涧鍦扮洊涓婏纴浣嗕笉の佹嫥绱锅灭暀澶х害鍗佸嚑绉掗挓锛屽啀鎶婄洊瀛愭嫥鍒版渶绱с€?銆佸湪瀹ゆ俯涓嬬瓑寰呰眴娴嗚嚜鐒跺喎鍗达紝鍐峰埌瀹ゆ俯涔嬪悗锛屽啀鎶婂畠鏀捐繘鍐扮閲屻€傚畠鍙互鍦?鈩冧笅淇濆瓨涓€涓槦鏈熴€?銆佹妸淇濆瓨鐨勮眴娴嗗彇鍑烘潵锛岄噸鏂扮儹涓€涓嬶紝灏卞彲浠ラ殢鏃跺枬鍟?

[Baby Chicken Porridge_Baby Chicken Congee]

[Baby Chicken Porridge_Baby Chicken Congee]

Complementary foods for babies are still critical. Don’t easily give them some irritating foods. These foods are noticed that their growth is affected. They can only eat some semi-liquid foods because they survive.The digestive function is not so good, so it is necessary to eat semi-liquid foods, such as porridge, and you can make some chicken porridge for them, but you must remember to be light.

Ingredients for baby food supplement chicken porridge: 50 grams of rice, 30 grams of minced chicken.

Excipients: 10 grams of vegetable oil, 6 grams of soy sauce, refined salt, spring onion, ginger, 500 grams of water.

Method: ① Wash the rice, put it in the pot, add water and boil over high heat and turn to low heat until it is thick; ② Set the pot on the fire, add oil, stir-fry the minced chicken, and add the onion and ginger.Stir in soy sauce, pour into rice porridge pot, add salt to taste, and cook over low heat for several minutes.

Features: This porridge is fragrant, sticky and delicious.

Efficacy Indications: Chicken is rich in protein, trace amounts, vitamin B1, vitamin B2, niacin, vitamin E, iron, calcium, phosphorus, sodium, potassium and other ingredients, with warming and nourishing qi, replenishing essence, strengthening bones, etc.effect.
This porridge is rich in nutrition and can be eaten by babies. A variety of nutrients are introduced for growth and development.

Note: Boil the porridge until it becomes sticky, and then cook it with the stir-fried chicken.

Is this porridge suitable for 7?
For 8 months infants.

Take 100 grams of carrots, wash and cut into small pieces, cook with the same 100 grams of rice as before, and eat on an empty stomach sooner or later.

Carotene is called “little ginseng”.

Modern medical research confirms that carrots are nutritious, with the exception of vitamin B1.

In addition to B2, it also contains carotene, which can be quickly converted into vitamin A in the human body, which can lubricate the skin and prevent skin aging.

Regular food can reduce dandruff, and can produce hair.

The porridge is effective for preventing dryness and aging of the skin. It is also suitable for the elderly with anorexia or indigestion.

Take 20g of cooked ground porridge, wrap it with gauze and boil for 20 minutes, then pick out the gauze bag, cook 50g of rice before cooking, and cook with rock sugar.

The regular diet of this porridge can replenish qi, strengthen the bones and muscles, pass the blood, improve the vital energy, and the five internal organs. It has the functions of lightening beauty, conspicuous eyesight, and is suitable for those who lose weight.

Jujube Longan Porridge 15 grams of sour jujube kernels and 15 grams of longan meat are cut into small pieces, together with the previous 50 grams of rice, add an appropriate amount of water to cook the porridge, add 5 grams of brown sugar and mix well for dinner.

The two medicines are matched with porridge. Long-term consumption can make people look better and smoother.

It is also suitable for over-thinking, straining the heart and spleen, darkening the face and palpitations caused by dark consumption of yin and blood, and forgetfulness and insomnia.

The elderly eat regularly, which is conducive to longevity and health.

50 grams of oatmeal steamed wheat is cooked with the right amount of porridge.

Serve for breakfast and dinner.

Oat is also called oil wheat, naked oat, sweet taste, is a kind of high protein food, its nutritional value of tonic and spleen is very high.

Consuming this porridge often has significant effects on maintaining skin elasticity and inhibiting the formation of age spots.

[Can milk powder and black sesame be drinkable]_ linseed _ how to drink

[Can milk powder and black sesame be drinkable]_ linseed _ how to drink

In our life, many people especially like to drink milk powder, because the nutritional value of milk powder is particularly high, and there are different people for different groups of milk powder, and some people will drink a glass of black together when drinking milk powder.Sesame paste, because everyone thinks that the nutritional value of black sesame paste is very high, so can milk powder and black sesame paste be consumed together?

Let ‘s take a look at black sesame and milk together, which are rich and comprehensive.

Black sesame has significant health care effects.

Vitamin E in black sesame is very rich and can delay aging.

It has the functions of moistening the five internal organs, strengthening bones and bones, and strengthening vitality.

It can strengthen the body, prolong life, nourish liver and kidney, nourish the spleen and lungs, dry cough of lung yin deficiency, constipation caused by dry skin and digestive yin deficiency, and less milk caused by inadequate postpartum blood.

Milk is rich in high-quality proteins. The main role of these proteins is to form new tissues of the human body and to repair built-in tissues. If you drink milk on an empty stomach in the morning, not only will the milk be quickly discharged from the stomach, but the above-mentioned precious proteins will soonIt is a pity that the protein can’t fully function as the protein is decomposed into metastasis and consumed.

When black sesame paste is eaten with milk, the time of milk in the human stomach is replaced. Milk and gastric juice can fully undergo enzymolysis, so that the protein can be well digested and absorbed.

There are many nutrients in sesame. Black sesame is good for hair and can supplement many trace elements required by the baby. It is really a good food. The baby can eat one or two spoons a day and the black sesame is high in calcium.If you don’t like to drink milk, you can take two spoons a day to add calcium.

Sesame is best broken down and broken. If the whole sesame is attached to the connecting wall, it is very difficult for the body to absorb.

Or if you add something else, it is best to chew in your mouth for a while.

Black sesame with milk is rich and comprehensive.

Black sesame has significant health care effects.

Vitamin E in black sesame is very rich and can delay aging.
It has the functions of moistening the five internal organs, strengthening bones and bones, and strengthening vitality.

It can strengthen the body, prolong life, nourish liver and kidney, nourish the spleen and lungs, dry cough of lung yin deficiency, constipation caused by dry skin and digestive yin deficiency, and less milk caused by inadequate postpartum blood.

The main ingredient of black sesame paste, black sesame contains protein 21 per 100 grams.

9 grams, aunt 61.

7 grams, calcium 564 mg, phosphorus 368 mg, iron 50 mg, and also contains sesamin, arachid acid, sesaminol, oleic acid, palmitic acid, stearic acid, sterol, lecithin, vitamins A, B, D, E, etc.Nutrients.

Because sesame is so rich in nutrients, it plays a great role in delaying human aging and beauty.

[Does the barley hurt the stomach?]

銆 愯 滏 绫 It ‘s full of excitement, and it ‘s _ 褰 卞 搷
钖忕背鏄緢澶氬搴粡甯镐細璐拱鐨勭敤浜庣闄ゆ箍姘斻€佽皟鍜岃劸鑳冪殑椋熸潗锛屽挨鍏跺浜庝綋鍐呮箍姘旇繃閲嶇殑浜虹兢鏉ヨ锛屽澶氶鐢ㄨ枏绫虫槸瀵硅韩浣撳仴搴烽潪甯告湁濂藉鐨勩€傝枏绫宠櫧鐒跺叿鏈夋瀬楂樼殑钀ュ吇浠峰€硷紝浣嗗叾鍏锋湁鎬у瘨鐨勭壒璐紝骞朵笉閫傚悎鎵€鏈変汉缇ら鐢紝鐢氳嚦浼氫骇鐢熶竴绯诲垪鍓綔鐢ㄣ€傞偅涔堬紝椋熺敤钖忕背浼氫激鑳冨悧?In the realm of the world, the worms and the worms in the world are stuck in the air. Admittedly, the people are in trouble, the people are in trouble, and the lawsuits are in trouble!钖忕背鐨勮惀鍏婚潪甯镐赴瀵岋紝琚獕涓衡€滀笘鐣岀鏈妞嶇墿涔嬬帇鈥濄€傝€屼笖钖忕背鐓キ銆佺叢姹ゃ€佺啲绮ュ潎鍙紝浜轰綋涔熷鏄撴秷鍖栥€傝枏绫宠繕鍙互浣滀负鑽敤椋熺墿锛屼綔鐢ㄨ緝涓虹紦鍜岋紝鏈夌泭鑴句綔鐢ㄨ€屼笉浼よ儍銆傝枏绫虫墍鍚殑钖忚嫛浠侀叝涓嶄粎鏈夋粙琛ヤ綔鐢紝鏇存湁鎶楃檶浣滅敤锛岃兘鐢ㄤ簬鑳冪檶鍜屽瓙瀹鐧岋紝褰撶劧杩樻湁寰堝鍏跺畠浣滅敤锛屾瘮濡傞檷鍘嬨€佸埄灏裤€I am sorry to say that I am not sure what to do. I am going to do it. Do you want to do it? Do you know how to do it?灏裤€傛棦鐒惰枏绫宠繖涔堝濂藉锛屾槸涓嶆槸姣忎釜浜洪兘鑳藉悆鍛?涓逛竷鍚涜璁ょ湡鍦板洖绛斾綘锛屼笉鏄€備竴銆佷綋璐ㄨ櫄瀵掕€呰枏绫虫€у井瀵掞紝鎵€浠ヤ綋璐ㄨ櫄瀵掔殑浜轰笉閫傚悎闀挎湡鍚冭枏绫虫垨鑰呭枬钖忕背姘达紝浠ュ厤钖忕背浣胯韩浣撲綋璐ㄦ洿鍔犺櫄瀵掋€備簩銆佸瓡濡囧瓡濡囦篃涓嶈兘澶氬悆钖忕背銆傝枏绫冲埄灏夸綔鐢ㄨ緝寮猴紝瀛曞鍚冧簡姘村垎鎺掑嚭杈冨锛岀緤姘翠篃鏈夊彲鑳戒細鍑忓皯锛屽鑳庡効鏈夊嵄闄╂€э紝鍥犳瀛曞灏介噺灏戝悆钖忕背銆備笁銆佹秷鍖栦笉鑹€呰枏绫虫墍鍚殑閱g被榛忔€ц緝楂橈紝瀵硅偁鑳冭礋鎷呭姞閲嶏紝濡ㄧ娑堝寲銆傛墍浠ュ鏋滀綘鐨勮偁鑳冨姛鑳藉急鐨勮瘽灏介噺灏戝悆钖忕背銆傚洓銆佸皬渚垮鑰呭皬渚垮鑰呬笉瀹滈鐢ㄣ€傚師鍥犺繕鏄枏绫崇殑鍒╁翱鍔熻兘锛岄槾铏氭垨鑰呴槾铏氱伀鏃虹殑浜洪兘瑕佹厧鐢ㄣ€傝櫧鐒惰枏绫虫湁鍋ヨ劸鐨勪綔鐢紝浣嗘槸闀挎湡椋熺敤浼氬洜钖忕背寰瘨鑰屼娇灏忎究娓呴暱锛岀敋鑷冲け绂併€傚綋鐒跺鏋滀綘涓嶇煡閬撹嚜宸辨槸浠€涔堜綋璐紝鏈€濂芥壘鑰佷腑鍖荤湅涓€鐪嬨€傚鏋滀綘婀挎皵閲嶏紝璇︽儏璇风湅 锛屼緷鐓х棁鐘舵潵鍚冭枏绫冲挴銆?

Huafa (600325): First-half results in line with expected rapid sales growth

Huafa (600325): First-half results in line with expected rapid sales growth

The 1H19 results are in line with the expected 1H19 results announced by the company: operating income of 14.2 billion US dollars, an annual increase of 51%; net profit attributable to mothers of 1.4 billion US dollars, an increase of 3%, corresponding to zero profit.

66 yuan, in line with CICC expectations.

The gross profit margin increased, and the high base of investment income resulted in a low profit growth rate.

The income of short-term company real estate development business increased by 52% annually to 13.7 billion U.S. dollars, and the settlement gross profit margin increased by 10 percentage points to 36% compared to the same 杭州夜网 period of the previous year. The corresponding comprehensive post-tax gross profit margin increased by 5 to 24%, of which the comprehensive tax in the second quarterLater gross profit margin increased by 7 percentage points to 26%.

Pioneer investment income 0.

23 trillion, a higher base than the same period last year 5.

The increase of 85 million US dollars increased net profit attributable to mothers by only 3%.

Net interest rate is still high and financing costs are low.

At the end of the period, the company’s net debt ratio increased by 1 point to 270% 1 compared with the beginning of the year, of which cash in hand increased by 23% to 23.5 billion US dollars, and interest-bearing liabilities increased 9% to 105.8 billion US dollars.

In the early days, the company successively started with 3.

76%?
5.

A coupon rate of 78% is gradually issued15.

295 trillion private placement bonds (two terms of 3 + 2/2 + 1 year), 1 billion trillion notes (term 3 + N years) and 500 billion ultra short-term financing (term 270 days).

Development trend Sales have increased rapidly in the first half of the year, and it is expected that the previously scheduled value added will exceed 50%.

Short-term company contract / contract sales area increased by 72% / 62% to 436 trillion / 1.79 million square meters, respectively.

We expect the company’s total budget to exceed 900 million, corresponding to a growth rate of more than 55%.

In the first half of the year, the land was dropped by nearly 30%.

Initially, the company added equity deposits 68 in Wuhan, Zhuhai, Shanwei, Tianjin and Shanghai.

750,000 square meters, down 17% from the same period last year.

We expect the company’s end-saleable value to exceed 250 billion yuan, approximately three times the 2019 estimate (CICC expectation).

Performance growth is highly deterministic and is expected to grow by nearly 30%.

At the end of the period, the company’s house receipts increased by 31% from the beginning of the year to 503 trillion, which is equivalent to 1.
.

5 times, has fully locked the performance of the next year.

Considering the lower base in the second half of the year, we expect the company’s performance growth rate to continue to increase in the second half of the year, which will expand the performance growth rate to 27%.

Earnings Forecast and Estimates The company conducts current transactions at 5.

2/4.

2x 2019 / 20e price-earnings ratio, lower than the valuation hub of the past three years.

Maintain Outperform rating and lower target price by 7% to 8.

92 yuan (mainly due to the company’s high leverage and the tightening of the financing environment for housing companies in the second half of the year), corresponding to 6.
.

5/5.

3x 2019 / 20e target P / E ratio and 26% upside.

Risk financing 淡水桑拿网 environment tightened further than expected, and launch and delivery progress fell short of expectations

Anhui Heli (600761): Steady growth, low valuation, high dividend long-term investment

Anhui Heli (600761): Steady growth, low valuation, high dividend long-term investment

Performance review 2018 results exceeded expectations Anhui Heli achieved operating income of 96 in 2018.

700 million, +13.

8% year-on-year increase; net profit attributable to parent company5.

8.3 billion, +35.

This is a year-on-year increase of 2% and EPS is 0.

79 yuan, exceeding expectations.

5%.

  The higher-than-expected profit was mainly due to the higher-than-expected profitability in 4Q18.

After restatement, 4Q18 Anhui Heli achieved revenue of 22%.

90,000 yuan, an increase of 3 in ten years.

4%, the growth rate decreased by 3 MoM.

5ppt, mainly due to the 4Q18 天津夜网 macroeconomic downturn leading to the increase in the forklift industry; 4Q18 company’s gross profit margin gradually increased by 1.

3ppt to 23.

8%, a significant increase of 4 from the previous quarter.

8ppt, mainly benefited from the fall in steel prices and the relatively high gross profit margin of Ningbo Lida in December.

During the fourth quarter of 2018, the company’s expense ratio fell during the period, and its net profit margin increased by 2.

1ppt to 6%, bringing 4Q18 net profit to mothers and a substantial increase of 59.

9%.

  Operating cash flow is stable and healthy, maintaining a high dividend payout ratio.

Net cash flow from operating activities of the company in 20186.

3.5 billion US dollars, maintaining a trend that is significantly higher than the company’s net profit; until the end of 2018, the company had about 4 net cash in hand.

600 million; the company announced that it will distribute cash dividends of 0.

35 yuan, dividend payout ratio 44.

5%, the proportion of dividends for three consecutive years exceeds 40%.

Based on 2018 dividends, the company’s dividend yield is 3.

2%.

  Development Trend The forklift industry is growing steadily, and Anhui Heli Leadership is stable.

For one year in 2018, the forklift industry sales 59.

70,000 units, an increase of 20 in ten years.

2%; Anhui Heli Sales 13.

30,000 units, an increase of 15 in ten years.

2%, the market share of about 22%, the slight decline in share is mainly due to the main product of the internal combustion forklift industry grew only 8%, while the sales of electric forklifts increased 38%.

After the acquisition of Ningbo Lida, the company is expected to increase its electric forklift and AGV business, and its long-term growth will be improved.

  1?
The growth rate of the forklift industry rebounded in February, and the business target for 2019 has increased steadily.

Benefit from macroeconomic recovery, 1?
In February, the forklift industry achieved sales of 80,000 units, an annual increase of 12%; the company’s revenue target for 2019 is 10.7 billion (+ 11%), which we believe will be achieved with a high probability.

  The profit forecast takes into account the company’s electric forklift business, and the gross profit margin continues to increase. It has raised its 2019 / 2020e profit forecast16.
8% and 22.

3% to 1.
00/1.

20 yuan.

  Estimates and recommendations The company currently sustainably corresponds to 11x / 9 in 19/20.

2x P / E, which is reasonably low.

Due to the upward revision of profit forecast, we raised the company’s target price by 17% to 15 yuan, corresponding to the 2019 / 20e target P / E of 15x / 12.

5 times.

Compared with the current consensus of 35.

5% up space.

  Risks Rising raw material prices have caused gross margins to fall short of expectations.

How about joking in social?

How about joking in social?

1.

Joking depends on the subject As the saying goes: “A hundred people are in every shape.

“People have different personalities.

Just make jokes with people who are tolerant, or allow the atmosphere to be adjusted, and make jokes with female classmates and colleagues.

  2.

It ‘s a joke to watch time. As the saying goes, “People are refreshed at every happy event.

“Joke, it is best to choose to turn the other side’s emotions by making jokes when the other side is in a good mood or when the other side is angry about small things.

  3.

Joking depends on the occasion. The environment is in libraries, hospitals and other places where you need to keep quiet. Do n’t make jokes. In a sad atmosphere such as mourning, you should not make jokes.

  4.

When joking, you should pay attention to the content. When joking, you must pay attention to the content’s health, humor, and elegant atmosphere.

In social activities, don’t make vulgar jokes.

Don’t make fun of other people’s physical defects, such as making fun of people with disabilities.