Li Chao: In the first two months of stocks and bonds, the total financing is about 1.3 trillion yuan

LiChao:Inthefirsttwomonthsofstocksandbonds,thetotalfinancingisabout1.3trillionyuan
OnMarch22,theStateCouncilOfficeofAntiquesrespondedtotheimpactoftheinternationalepidemicandmaintainedthestabilityofthefinancialmarket.LiChao,vicechairmanoftheChinaSecuritiesRegulatoryCommission,saidthatinthefirsttwomonthsofthisyear,stocksandbondsontheexchangemarkettotaledabout1financing.3trillionyuan.Amongthem,38IPOshavebeenissued,raising72.4billionoffundsandre-financing90.1billion;theissuanceofbondmarketissuance1.1trillionyuan,anannualincreaseof30%.Moreimportantly,thecurrentoveralleffortstoraiseepidemicpreventionandcontrolandeconomicandsocialdevelopmenthaveachievedpositiveresults,andtherehavebeensignificantmarginalchangesintheindicatorsinMarch.Fromthesurveyofourlistedcompanies,theresumptionratehasexceeded98%,whichishigherthanthenationalaverage.ThefollowingisthepositionofLiChao,ViceChairmanoftheChinaSecuritiesRegulatoryCommission.Sincetheoutbreak,wehavereleaseddocumentstogetherwithrelevantdepartmentstocreatesomespecialarrangementsintheareasofcapitalmarketenterprisefinancing,supportfromkeyregionsandindustries,feereductions,andconvenienceservices.Theforegoingimprovesthemarketlaw,reflectsthetemperatureofsupervision,helpsenterprisesandindustriestoovercomedifficulties,andlaysasolidfoundationfortheoperationofthemarket.Whileensuringthestableoperationofthemarket,thefunctionsofthepreviouscapitalmarketwerenormallyperformed,especiallyundertheunifiedcommandandcoordinationoftheFinancialCommitteeoftheStateCouncil,andtheA-sharemarketopenednormallyaftertheSpringFestival.Weunswervinglyplaytheroleofthemarketmechanism,withoutadministrativeintervention,themarketself-regulationfunctionisbetterplayed,maintainingthesmoothoperationoftheentirefinancialmarket,andeffectivelypromotingtheriskmitigationexplanationandinvestorconfidence.Inthefirsttwomonthsofthisyear,stocksandbondsontheexchangemarkettotaledabout1.3trillionyuan.Amongthem,38IPOshavebeenissued,raising72.4billionoffundsandre-financing90.1billion;theissuanceofbondmarketissuance1.1trillionyuan,anannualincreaseof30%.Moreimportantly,thecurrentoveralleffortstoraiseepidemicpreventionandcontrolandeconomicandsocialdevelopmenthaveachievedpositiveresults,andtherehavebeensignificantmarginalchangesintheindicatorsinMarch.Fromthesurveyofourlistedcompanies,theresumptionratehasexceeded98%,whichishigherthanthenationalaverage.Theliquidityofthefinancialmarketisreasonablysufficient,andthestockmarket’sestimatedlevelisatahistoricallylowlevel.Ingeneral,theimpactoftheexternalenvironmentisperiodic,andwillnotchangethetrendofChina’scapitalmarketgoingsmoothly.EditorYueCaizhou

[How to eat kidney tonic kidney]_ 猪腰 子 _How to eat

銆愮尓鑵版€庝箞鍚冭ˉ鑲俱€慱鐚叞瀛恄濡備綍鍚?
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[Benefits of eating egg custard for pregnant women]_Pregnancy_Weight

[Benefits of eating egg custard for pregnant women]_Pregnancy_Weight

I think one of the best ways to eat eggs is chicken cake, and this way of eating is easier for the nutritional value of eggs to be absorbed by everyone. Many mothers also make eggs for babies when they add complementary foods to their babies.For pregnant women, eating chicken cake often has many advantages, because the nutritional value of eggs is very high, and it is easier to absorb. So what are the benefits of eating egg custard for pregnant women?

Would pregnant women eat steamed eggs? Would pregnant women eat steamed eggs?

In terms of the nutritional absorption and digestibility of eggs, 100% for boiled eggs, 97% for scrambled eggs, 98% for deep-fried eggs, and 81 for old-fried eggs.

1%, the steamed egg is 92.

5%, 30% raw?
50%.

As far as the vitamin preservation of eggs is concerned, the first place is boiled eggs with shells. The heating temperature is low and the nutrients are fully retained.

The second place is steamed eggs, lower heating temperature, less loss of metabolic vitamins such as riboflavin and lutein.

It can be seen that steamed eggs are indeed a good way to eat.

Benefits of pregnant women eating steamed eggs

Provides amino acids that are potentially needed by the human body in eggs, which are very needed for pregnant women and fetuses who are at an important stage.

If any one of the eight amino acids in the pregnant woman’s body will affect the health of the pregnant woman and the fetus correspondingly, methionine in some glucose will affect the slight breakdown of the human body, increasing the chance of suffering from internal organ diseases such as mild liver.

Therefore, in order to keep the human body functioning properly, eggs are not food that pregnant women can consume.

2.

Provide high-quality breast milk. The quality of mother’s milk is crucial to weight, because high-quality breast milk can achieve a healthy and smart baby.

Eggs contain a lot of high-quality protein and egg fat, and pregnant women eat a moderate amount of eggs to help improve the quality of postpartum breast milk.

3.

The minerals in eggs for cancer prevention are very rich, such as iron, calcium, potassium, etc., are high in content. Pregnant women eat moderate amounts of eggs to effectively prevent cancer, because the minerals in eggs can break down and oxidize human carcinogens.

4.

Promote brain development Eggs contain a substance called choline, which has a great effect on the hippocampal effect of memory storage, which can increase fetal brain cells and promote brain tissue development.

So pregnant women eat some eggs in moderation, which can make the fetal brain develop more comprehensively, and also improve fetal memory.

5,

The protein in repairing liver eggs is very rich and belongs to high-quality protein, so it can repair the damage to liver tissue.

The right amount of eggs for pregnant women can promote liver cell regeneration and enhance the liver function of pregnant women.

[Celery and bananas can be juiced together]_With bananas_OK

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[Curry burdock rice]_burdock rice_how to make_home made

[Curry burdock rice]_burdock rice_how to make_home made

Curry burdock rice has very high nutritional value, and it also has a good effect on promoting the digestion and absorption of the body. Moreover, we need to prepare special orange juice and coconut juice. We mainly focus on sweetness in this dish.Paired with potatoes, carrots and onions to solve the greasy feeling in burdock rice.

Ingredients Burdock, curry, orange juice, coconut juice, potatoes, carrots, onions, green peppers

[The process of making burdock]2.

The burdock was rinsed with clean water and cut into 3CM x 3CM square walnut-sized pieces 3 with a knife against the grain.

Add an appropriate amount of water to the pot and heat it until the pot makes a sound.

Put the chopped sirloin pieces and boil for a little 7, 8 minutes 5 over high heat.

Boil until the water is boiling, the burdock is discolored, and there are a lot of floating foam in the pot

Use a hedge to remove the burdock 7.

Rinse immediately with cold water 8.

[Simmering process of burdock]9.

Add sirloin washed in flying water to the electric pressure cooker, and add enough water 10.

Add 3 to the water?
5 cumin 11.

Then put a slice of onion 12.

Cover the pot tightly and press the meat button for 8 minutes to cook for 20 minutes.

Remove the beef brisket pieces until the beef is soft and rotten14.

[Curry sirloin stew process]15.

Wash the onions and cut into diamond-shaped pieces with a knife.

Put oil in the pan and heat it.

Add onion cubes to scent 18.

Wash and peel the carrots and cut into hob pieces 19 with a knife.

Cut the carrot pieces into a pan and stir fry until the carrots absorb the fat20.

The potatoes are washed and peeled, and cut into hob pieces 21 with a knife.

The cut potato pieces are put into a pan and sautéed until the potatoes absorb the fat, and the surface becomes golden yellow22.

Prepare cooked sirloin pieces 23.

Burdock pieces are put into the pot 24.

Use a shovel to stir fry the ingredients in the pot evenly.

Put in a curry block 26.

Pour in 27 coconut juice.

Then pour 1/2 cup of orange juice 28.

Covered with high heat cooked 29.

Wash the green peppers and cut into 30 diamond-shaped pieces.

Cook until the curry has melted and the broth in the pan becomes golden brown. Add the green pepper cubes 31.

Continue cooking the ingredients in the pot.

[Can kidney yang deficiency eat black beans]_ kidney yang deficiency _ black soybean _ can you eat

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[Can I eat ham sausage during lactation?

]_ Lactation period _ can you eat

[Can I eat ham sausage during lactation?
]_ Lactation period _ can you eat

Ham sausage is a kind of meat food that can often be eaten in life. This meat food is easy to eat and rich in nutrients, such as protein, protein and vitamins. According to reports, the absorption rate of these nutrientsHigh, you can get a good satiety when you eat it, but there are many precautions to eat ham sausage, so can women who are breastfeeding eat it?

Can I eat ham sausage during lactation?
The ham sausage should be carefully eaten during lactation. The main reason is that the ham sausage uses livestock meat as the main raw material, supplemented with starch, plant protein powder and other fillers, and then adds salt, sugar, wine, monosodium glutamate, spices and other condiments, and addsQuality improvers Carrageenan and Vitamin C, as well as color protectors, water retention agents, preservatives and other substances.

The nutritional value of ham sausage is not high, and it cannot be compared with fresh meat.

Although the use of breastfeeding mothers will not have much effect, but it will affect the baby through milk, so it is best not to eat it.

In addition, breastfeeding mothers should not eat hot spices, pickles and greasy foods, but also drink alcohol.

Breastfeeding mothers should understand that eating too much and can’t increase milk, how much milk is related to nutrition rather than eating.

So mothers don’t eat too much, and stop being full.

Although ham is very tasty, it is recommended not to eat more lactation.

After all, it is pickled, and it definitely contains some additives. If you eat more, these will accumulate in the human body, which will cause harm to the human body over time, and this harm is not just a person.

Through the process of breastfeeding, these harmful substances will be transferred from the mother to the baby, laying a great hidden danger.

So it’s better to eat less.

Nursing mothers should eat more nutritious food.

In other words, the mother should consume enough sugar (staple food) and water, and should eat more fruits and vegetables rich in vitamins and minerals, as well as protein and other broth, pork rib soup, fish soup or eggs, etc.Increase metabolism and absorption of soluble vitamins, replacement of calcium, absorption of iron, absorption of magnesium, absorption of essential fatty acids, absorption of water.

Also, breastfeeding mothers cannot be angry.

Because during anger, anxiety, tension, and fatigue, the endocrine system will be affected, the quality of the endocrine milk will also change, and it will even directly affect the healthy growth of the newborn.

Aerospace Hongtu (688066) IPO report: China’s leading front-end and navigation application service provider

Aerospace Hongtu (688066) IPO report: China’s leading front-end and navigation application service provider
The company is a leading domestic early warning and navigation application service provider, with the PIE software platform as its core product.The company is a leading domestic front-end and Beidou navigation satellite application service provider. It is committed to the localization of satellite application software and industrialization of satellite applications. It has developed and mastered a basic software platform and core technology with completely independent intellectual property rights.And other related departments provide system design and development and data analysis application services.The company predicts that PIE, the basic software platform for image processing, was selected as the software supply list of the central state agency in 2017, and is the only product selected in the early category.The company’s main customers are targeted at governments, the military, and enterprises.It not only provides services for more than ten industry sectors such as natural resources, ecological environment, emergency management, agriculture and rural areas, meteorology, marine, water conservancy, housing construction, etc., but also provides services to the Military Commission, theater, military services, the army and military research institutes.As of the end of 2018, the number of users who obtained software authorization through the company’s official website has reached 12,482. China’s satellites have entered an intensive launch period, and the space for the prediction and navigation industry chain is huge.From 2013 to 2017, the global satellite output value increased from US $ 231 billion to approximately US $ 269 billion, with satellite navigation and satellite pointing as the main growth points.According to SIA statistics, the ratio of the global satellite application business to the satellite manufacturing business is about 9: 1, but 北京桑拿洗浴保健 only about 3: 1. The satellite application business has room for development. The average refractive index satellite entered a dense launch period.In 2018 alone, many high scores such as High Score No. 02, 03, 04, High Score No. 5, High Score No. 6 and High Score No. 11 were previously launched.Since the launch of the satellite and high-scoring project, high-scoring satellite data has replaced imports, and the self-sufficiency rate has reached 80%. The funds raised will be used for projects such as the upgrading of the PIE basic platform.The total share capital of the company before the issue was 1.2.5 billion shares, 41.5 million ordinary shares are planned to be publicly issued this time, accounting for 25% of the total issued share capital.The raised funds are intended to be used for the PIE basic platform upgrade project, 南京桑拿网 Beidou comprehensive application platform construction project and atmospheric marine application service platform project. The total project investment is 5.700 million. Choosing hypergraph software, unifying the strong, digital government as the comparable company.PE estimation method: At present, the PE of comparable companies is 17-30 times in 2019. We believe that the reasonable PE of aerospace in 2019 is 25-30 times, and the corresponding aerospace target is estimated to be 2.3-2.6 billion.PEG estimation method: At present, the average PEG of comparable companies in 2019 is 0.62 times, we take 0.6-0.8 times is a reasonable estimation interval, and the corresponding estimated value of the aerospace macro target is 22-30 megabytes.In summary, we believe that the space flight is a reasonable estimate of about 23-26 trillion, based on the issue of 40 million shares, the corresponding price range13.9-16.8 yuan. Risk Warning: Technology R & D Does Not Meet Expectations, Risk of Loss of Core Technical Personnel, Satellite Application Industry Opens to the Outside, Risk of High Customer Concentration

Quartz (603688) Company Dynamic Comment: Yu Ru Yucheng Semiconductor High Temperature Quartz Material Breaks International Monopoly

Quartz (603688) Company Dynamic Comment: Yu Ru Yucheng Semiconductor High Temperature Quartz Material Breaks International Monopoly
Event: The company’s series of quartz products used in the semiconductor field passed the official certification of Tokyo Electronics Co., Ltd. (TEL).The scope of certification is transparent quartz base materials (tubes, rods, gadolinium), the certification category is quartz raw materials, and the application field is diffusion conversion in the field of semiconductor processing. TEL certification landed, and the company’s semiconductor high-temperature quartz material was finally recognized by the international supply chain: Tokyo Electronics, referred to as TEL (Tokyo Electron Limited).), Japan ‘s largest supplier of semiconductor manufacturing equipment, and the third largest supplier of semiconductor manufacturing equipment in the world, behind only Applied Materials (AMAT) and ASML.TEL products cover almost all processes in the semiconductor manufacturing process. Its main products include: replacement / development equipment, heat treatment film-forming equipment, dry etching equipment, CVD, wet cleaning equipment and test equipment.In 2018, the global market share of TEL thin film equipment reached 88%, of which it is absolutely leading; especially in the global semiconductor oxidation diffusion equipment and vapor deposition equipment market, TEL holds the main market share.The company’s semiconductor quartz products have passed the TEL official certification, marking that the company’s products have been recognized by the semiconductor international supply chain, and the company’s semiconductor business growth is highly certain in the future. High-temperature semiconductor quartz material broke the international monopoly, and the company officially entered the industrial chain with high gold content: semiconductor quartz products are important consumables in the wafer manufacturing process.Semiconductor quartz products are in direct contact with the wafer during the production process and need to withstand high temperatures or corrosion. Therefore, the wafer manufacturing process has extremely high technical requirements for semiconductor quartz materials.The company’s quartz products certified by TEL are fused quartz, which can be transferred to semiconductor high temperature processes such as diffusion.At present, only a few international manufacturers and companies such as Heraus, Momentive and other high-temperature and high-purity quartz products have passed TEL certification. The company’s products have achieved zero breakthroughs in the localization of high-temperature semiconductor quartz materials.High-temperature semiconductor quartz materials belong to the high-gold content category in the quartz industry chain. In the future, the added value of the company’s products is expected to greatly increase, and its business is expected to be comprehensively improved. The growth rate of wafer manufacturing capacity in mainland China is leading the world, and the company leads the process of localization of semiconductor materials: According to IC Insights data, in December 2018, global wafer capacity (equivalent to 8 inches) was 18.9 million wafers / month, an increase of 5.5%; Mainland China is 2.4 million pieces / month, an annual increase of 20%, accounting for 12% of the world’s total.5%.It is expected that by 2020, China’s wafer capacity will increase to 4.05 million wafers / month, accounting for about 19% of the global share.In the context of the localization era, semiconductor crystal manufacturing production lines in developing countries are booming. The company’s high-temperature quartz materials have successfully passed international manufacturer certification, breaking the barriers to semiconductor material 天津夜网 certification and distribution.Mass. Maintain “Highly Recommended” rating: We are optimistic about the company’s continuous and effective internal photovoltaic single crystal market and the demand for semiconductor markets. Its high-temperature quartz technology leads the progress of the localization of quartz materials, and the industry leader gradually stabilizes.Parent net profit is 1.60/2.54/3.5.2 billion yuan, EPS is 0.48/0.75/1.04 yuan, corresponding to PE about 40X, 25X, 18X, maintaining the “strongly recommended” level. Risk warning: Single crystal market demand is less than expected; customer introduction is less than expected

Biological Stock (600201): The recovery at the bottom of the industry cycle promotes the gloom

Biological Stock (600201): The recovery at the bottom of the industry cycle promotes the gloom

Investment Highlights: Event: The company released the third quarter report of 2019, and achieved operating income for the first three quarters of 20198.

48 ppm, a decrease of 40 per year.

79%; net profit attributable to mother 2.

48 ppm, a decrease of 63 per year.

52%; deducted non-attributed net profit 2.

4.2 billion, down 63 every year.

55%; Net cash flow from operating activities1.

25 ppm, a decrease of 37 per year.

19%.

The downstream market continued to slump and actively lowered prices to ensure market share.

According to the latest statistics from the Ministry of Agriculture and Rural Affairs, affected by the swine fever epidemic in Africa, in September 2019, the number of pigs in the inventory dropped by 41.

1%, a decrease of 3 from the previous quarter.

0%; the number of fertile sows in stock on hand dropped by 38.

9%, down 2 from the previous month.

8%.

Against the background of the drastic decline in downstream demand, the company adopted a flexible sales strategy, one province, one strategy and even one strategy at a time, maintaining a stable market share.

Because the products were sold mainly through price reduction, the gross profit margin of the 杭州桑拿 product fell rapidly, and the gross profit margin of Q3 dropped to 54%, a decrease of 7 percentage points from the previous month. The sales expense ratio Q3 remained little changed, continuing to increase by 4 percentage points from the same quarter last year.

After the reshuffle of the pig industry, the scale ratio is expected to increase significantly, and the animal protection industry welcomes new development potential.

Relative to the scale of 5% of epidemic prevention costs in large-scale farms, the distribution of retail costs in retail accounts for only 1% of the total cost, and this round of African swine fever epidemic has the greatest impact on retail customers, and the proportion of retail capacity production in some areas has reached 80%.
Among the policies issued by the country, it is also mainly to support 北京夜网 large-scale farming companies to restore production capacity, provide loan discounts, subsidies and other policies. Therefore, we estimate that during the process of capacity restoration, the proportion of large-scale farming will increase rapidly. The whole pig vaccine market is expected to beLess than $ 10 billion to $ 60 billion.

Profit forecast and investment advice.

According to the assumption that the company’s stable operation, the situation of slaughtering pigs gradually improved, and the proportion of large-scale breeding increased, we predict that the company’s operating income for 2019-2021 will be 11 respectively.

7.4 billion, 14.

3.8 billion, 19.

68 ppm, with annual growth rates of -38.

1%, 22.

7%, 42.

9%; net profit attributable to mothers is 3 respectively.

6.8 billion, 4.

4.4 billion, 6.

77 megabytes, with annual growth rates of -51.

2%, 20.

6%, 52.

4%.

The company’s sustainable and reasonable assessment is at 17.

52-20.

Between 44 yuan, corresponding to 30 and 35 times PE in 2021, respectively, giving an overweight investment rating.

risk warning.The African swine fever epidemic is out of control; interventional techniques are surpassed; new products have quality problems.