16 May

[Can barley red bean porridge be eaten every day]_ barley red bean porridge _ nutritional value _ diet taboo

銆愯枏绫崇孩璞嗙播鍙互澶╁ぉ鍚冨悧銆慱钖忕背绾㈣眴绮钀ュ吇浠峰€糭楗绂佸繉
灏嗚枏绫冲拰绾㈣眴鏀惧湪涓€璧风啲鎴愯枏绫崇孩璞嗙播钀ュ吇浠峰€奸潪甯搁珮锛屾槸璇稿濂虫€ф湅鍙嬬殑鏈€鐖憋紝浣嗛渶瑕佹敞鎰忕殑鏄枏绫崇孩璞嗙播涓嶅彲浠ュぉ澶╁悆锛屽洜涓鸿枏绫虫€у瘨锛屽ぉ澶╁枬鐨勮瘽浼氬鑳冮€犳垚涓€瀹氱殑璐熸媴锛岃繕瀹规槗鍑虹幇鎷夎倸瀛愮瓑涓嶈壇鐜拌薄銆?涓€銆佽枏绫崇孩璞嗙播鍙互澶╁ぉ鍚冨悧 钖忕背涔熷氨鏄垜浠父璇寸殑钖忚嫛浠侊紝瀹冨叿鏈夊緢寮虹殑The wedding ceremony is carried out by the side of the world. The awards are made by the children. The awards are made by the people. The awards are made by the people. The awards are made by the government. The world is by the way. The world is so close.繚鍋ヨ劸鑳冨姛鏁堛€傜幇浠d汉鐢变簬鍘嬪姏杩囧ぇ骞朵笖缂轰箯杩愬姩锛屾墍浠ュ簲璇ュ鍚冧竴浜涗繚鍋ヨ劸鑳冪殑椋熺墿锛岃€岃枏绫崇孩璞嗙播灏辨槸涓€涓笉閿欑殑閫夋嫨銆傝枏绫崇孩璞嗙啲鎴愮播涔嬪悗鏇村姞瀹规槗琚垜浠殑韬綋鎵€鍚告敹锛屽苟涓斾笉浼氱粰鎴戜滑鐨勮劸鑳冮€犳垚寰堝ぇ鐨勮礋鎷咃紝閭d箞钖忕背绾㈣眴绮ュ彲浠ュぉ澶╁悆鍚? 钖忕背绾㈣眴绮ヤ笉鍙互澶╁ぉ鍚冿紝鍥犱负钖忕背绾㈣眴绮ユ槸涓€绉嶄繚鍋ユ堡鑽€屼笉鏄皬绫崇█楗偅鏍风殑鐢熸椿蹇呴渶鍝侊紝澶╁ぉ鍚冩垨鑰呮槸鍚冨浜嗗鑳冩湁涓€瀹氱殑浼ゅ锛屽鏄撳鑷村嚭鐜版媺鑲氬瓙銆佽倸瀛愮棝绛夋儏鍐点€傝枏绫崇孩璞嗙播鐨勬渶浣虫湇鐢ㄦ椂闂村簲璇ユ槸鍦ㄦ棭楗箣鍚庡拰鍗堥キ涔嬪墠锛屽洜涓轰笂鍗堢殑杩欎釜鏃堕棿娈垫槸鑴捐儍宸ヤ綔鐨勫紑濮嬫椂闂达紝杩欎釜鏃跺€欏枬涓€浜涜兘澶熶繚鍋ヨ劸鑳冪殑椋熺墿瀵硅劸鑳冪殑宸ヤ綔鏈夌潃寰堝ソ鐨勬彁鍗囦綔鐢ㄣ€傞渶瑕佹敞鎰忕殑鏄紝鍚冭枏绫崇孩璞嗙播鐨勬椂闂翠竴瀹氳閫夋嫨姝g‘锛屽惁鍒欎笉浠呬笉鑳藉寰堝ソ鐨勪績杩涜韩浣撳仴搴峰弽鑰屽奖鍝嶈偁鑳冨椋熺墿鐨勫惛鏀讹紝浠庤€屽韬綋閫犳垚寰堝ぇ鐨勬崯浼ゃ€?浜屻€佽枏绫崇孩璞嗙播鐨勯鐢ㄧ蹇?钖忕背鍜岀孩璞嗙殑鏈€浣虫惌閰嶅彲浠ュ皢钀ュ吇鏈€澶у寲锛屾墍浠ヨ枏绫崇孩璞嗙播鍜屽叾浠栫殑灏忕背绮ヤ笉涓€鏍凤紝鍏锋湁鍏荤敓淇濆仴鐨勫姛鏁堛€傝枏绫崇孩璞嗙播铏界劧钀ュ吇浠峰€煎緢楂樹絾骞朵笉鏄汉浜洪兘鍙互鍚冪殑锛屽彧鏈夋纭殑椋熺敤钖忕背绾㈣眴绮ユ墠鑳戒繚璇佷汉浠殑韬綋鍋ュ悍锛岄偅涔堣枏绫崇孩璞嗙播鐨勯鐢ㄧ蹇屾湁鍝簺鍛?1銆佸瓡濡囦笉瀹滃悆钖忕背绾㈣眴绮ワ細瀛曞濡傛灉娌℃湁鎰熻婀挎皵寰堥噸鐨勬儏鍐典笅鏈€濂戒笉瑕侀鐢ㄨ枏绫筹紝鍥犱负钖忕背鏄甫鏈夊瘨鍑夋€ц川鐨勶紝浣嗙孩璞嗘槸鍙互鍚冪殑锛屾惌閰嶅ぇ鏋c€佺櫨鍚堛€佹灨鏉炵瓑椋熸潗浠f浛钖忕背锛岀叜鎴愮播鍚屾牱涔熷彲浠ョ婀跨敋鑷宠繕甯︽湁鍏朵粬鍔熸晥鐨勫憿銆?銆佹秷鍖栬兘鍔涘樊鐨勪汉涓嶅疁鍚冭枏绫崇孩璞嗙播锛氳枏浠佹墍鍚殑閱g被榛忔€ц緝楂橈紝鎵€浠ュ悆澶 Right- Shimei argon Θ Picaozhichen Lirensuoguo Yiyangguliao Jianjiemancha Fujifeijiao Hanhaojiexin Haocaiyuxi Chouqinyangtai Nanlingchonghai Pubangbomo?銆侀珮琛€鑴傛偅鑰呬笉瀹滃悆钖忕背绾㈣眴绮ワ細钖忕背铏界劧鏈夐檷浣庤鑴傚強琛€绯栫殑鍔熺敤锛屼絾姣曠珶鍙槸涓€绉嶄繚鍋ラ鍝佷笉鑳藉綋浣滆嵂鍝併€傛墍浠ユ湁楂樿鑴傜棁鐘剁殑鎮h€呮渶濂芥槸鎵惧尰鐢熸不鐤楋紝鍗冧竾涓嶅彲浠ヨ嚜琛岄鐢ㄨ枏绫崇孩璞嗙播鏉ユ不鐤椼€?It ‘s a good idea to use a chain of hackers, and it ‘s very difficult to get back to the back and forth.The chains are rugged and the chains are staggered, the chains are shoulders, the chains are broken, the chains are collapsed, the history is collapsed, the effect is slow, and the effect is slow.疁澶氬悆钖忕背绾㈣眴绮ャ€?

09 May

[Does Cordyceps eat in the morning or at night?】 _How to eat_How to eat

What is the difference between sorrow and sorrow?
鎴栬寰堝浜烘病鏈夊悆杩囧啲铏鑽夛紝浣嗗ぇ瀹朵竴瀹氬惉璇磋繃鎴栬€呯湅杩囷紝骞虫椂鍦ㄨ喘涔板啲铏鑽夌殑鏃跺€欙紝澶у涓€瀹氳娉ㄦ剰杈ㄥ埆锛屽洜涓哄啲铏鑽夌殑绉嶇被寰堝锛屼絾鍦ㄦ垜鍥借寖鍥村唴锛屽啲铏鑽夊氨鏈変竴鐧惧绉嶅搧绉嶏紝涓嶅悓鐨勫啲铏鑽夎嵂鐢ㄤ环鍊间笉涓€鏍凤紝浠锋牸鍖哄埆涔熷緢澶э紝鎵€浠ユ纭鲸鍒潪甯搁噸瑕侊紝閭d箞閫氬父鎯呭喌涓嬶紝铏崏鍦ㄦ棭涓婅繕鏄湪鏅氫笂鍚冩墠濂藉憿锛熻櫕鑽夋棭涓婂悆杩樻槸鏅氫笂鍚冿紵铏崏鏃╀笂鍚冭繕鏄櫓涓婂悆濂斤紵鍐櫕澶忚崏涓庡叾浠栬ˉ鍝佺浉姣旓紝鍏锋湁鎬у钩娓╁拰锛岄槾闃冲弻琛ョ殑浣滅敤銆備絾鏄紝甯冨潳铏崏鏃╀笂鍚冭繕鏄櫄涓婂悆濂藉憿锛熷啲铏鑽変綔涓轰竴绉嶅悕璐电殑涓嵂鏉愶紝鎯宠鍚告敹瀹冪殑钀ュ吇锛岄鍏堣鐭ラ亾浠€涔堟椂鍊欍€佷粈涔堟椂闂存鍚冩渶濂斤紝涓€鑸潵璇达紝姣忓勾9鏈堣嚦娆″勾5鏈堜唤鏈嶇敤鏈€濂斤紝鍙﹀锛屽悆鍐櫕澶忚崏涔熻鎶婃彙搴︼紝涓嶈涓€娆℃€у悆澶銆傞偅涔堬紝铏崏鏃╀笂鍚冭繕鏄櫓涓婂悆濂斤紵鍦ㄤ互涓嬫椂闂存鏈嶇敤鍐櫕澶忚崏锛岄兘鏄緢濂界殑銆?銆佹棭涓婂悆鍐櫕澶忚崏鍚告敹濂藉湪涓€澶╃殑鏃堕棿涓紝鏃╀笂鏄敓鍛藉姏鏈€鏃虹洓鐨勬椂闂达紝灏ゅ叾鏄櫒璧风殑鏃跺€欙紝杩欎釜鏃跺€欑粡杩囦竴鏅氫笂鐨勪紤鎭紝浜轰綋鐨勫惛鏀跺姛鑳芥渶濂斤紝鍦ㄥ姞涓婂墠鏅氱殑椋熺墿宸茬粡琚偁鑳冨畬鍏ㄦ秷鍖栨帀銆傝繖涓椂鍊欒韩浣撲篃鏄渶闇€瑕佽ˉ鍏呰惀鍏绘垚鍒嗙殑鏃跺€欍€傛墍浠ュ湪鏃╀笂鏅ㄨ捣鐨勬椂鍊欓鐢ㄥ啲铏鑽夎兘鏈夋晥鐨勫姞澶у惛鏀舵晥鏋滐紝浜轰綋瀵瑰啲铏鑽夌殑钀ュ吇鎴愬垎鐨勫惛鏀朵笌鍒╃敤鑳藉姏涔熶細鍔犲己銆傛墍浠ワ紝鎸栬崏钘忔皯鍝堝悏鎻愰啋澶у瑕佹槸鏃╀笂鏅ㄨ捣鐨勬椂鍊欐椂闂村厖瓒筹紝鍙互椋熺敤鍐櫕澶忚崏鏉ヨˉ鍏呰韩浣撴墍闇€瑕佺殑寏 寲 劎 銆?I am afraid that there will be a lot of troubles in the world, and there will be a lot of troubles in the chain, as well as in the case of a lot of troubles:  涔 唔 姉疄瀵归鐢ㄥ啲铏鑽夋潵璇村悓鏍烽€傜敤銆傚湪鐫″墠鍚冨啲铏鑽夌収鏍疯兘鎻愰珮鍚告敹鐜囷紝鍚屾椂瀵圭潯鐪犱篃鏈変竴瀹氱殑淇冭繘浣滅敤銆備汉浣撶敓浣撴満鑳界殑璋冭妭涓庤嚜淇澶ч兘鏄湪鏅氫笂鐫$湢鏃跺€欏畬鎴愮殑锛岀潃鏃跺€欓鐢ㄥ啲铏鑽変究浜庢洿濂界殑淇澶勪簬浜氬仴搴风姸鎬佺殑韬綋鍣ㄥ畼銆傚悓鏃讹紝鎻愰珮鐫$湢璐ㄩ噺锛岃鍦ㄧ2澶╃簿绁炵姸鎬佹洿濂斤紝鏃㈣兘淇冭繘鏈轰綋鐨勪慨澶嶅張鑳芥彁楂樼潯鐪狅紝鎵€浠ュ湪鐫″墠椋熺敤鍐櫕澶忚崏涔熸槸涓嶉敊鐨勯€夋嫨銆?銆 侀 キ 钖?0 闒 旓 鍓 卓 傭 悆 鍆 愆 揕 擶 哚 哏 咏 尖 参 揂 擂 氂 氅 鍙 嬮 嬗 鐗 気 惗 潗 潗 澗 澸 澸 澸 澸鐢紝杩欐牱鑳芥彁楂樿ˉ鍝佺殑鍚告敹鏁堟灉銆傚叾瀹炲啲铏鑽変篃鏄ˉ鍝佺殑涓€绉嶏紝褰撶劧涔熷彲浠ュ湪楗悗30鍒嗛挓鍐呴鐢ㄣ€傝繖鏄洜涓哄湪鐢ㄩ鍚庯紝鑳冧腑鍒嗘硨鐨勯叾鏈€娲昏穬锛岃偁鑳冨姛I will tell you how to do it, and you will be able to take care of it, and you will be able to see how it works, if you want to do it, you will be able to see how it works, if you do n’t know what ‘s going on, what ‘s going on?I ‘m so stupid, I ‘m sorry, I ‘m sorry, I ‘m sorry, I ‘m sorry, I ‘m not sure how to do it.闂村彉澶泛纴旋存湁鍒╀簬鍐櫕澶忚崏钀ュ吇鎴愬垎鐨勫惛鏀躲€?

23 Apr

[Benefits and Taboos of Women Eating Ginger]

[Benefits and Taboos of Women Eating Ginger]

For some women, if their bodies are cold, they will have cold hands and feet and dysmenorrhea.

In fact, at this time, ginger can help a lot.

In particular, ginger has a cooling effect.

So, in addition to expelling the cold, what are the benefits and taboos of women eating ginger?

In fact, we have already said the benefits, mainly the effect of expelling cold, let’s look at the taboos of ginger on women.

The benefits of ginger to promote appetite Eating ginger can appetite and strengthen the spleen and promote appetite.

Ginger can help stimulate the secretion of saliva, gastric juice and digestive juice, stimulate gastrointestinal motility, and increase appetite.

Especially in the summer, when the saliva of the human body is hot, the secretion of gastric juice will be reduced, and ginger can effectively promote appetite.

Eating ginger can help prevent heatstroke.

Ginger alcohol, gingerene, citral and other essential oils contained in ginger can help the body sweat and cool down, thereby helping to prevent heatstroke.

In addition, gingerol, resin, etc. contained in ginger can also help excitement.

Sterilization and detoxification Eating ginger can help sterilize and detoxify.

Some starches contained in ginger can act like antibiotics. Eating ginger can help relieve symptoms due to acute gastroenteritis caused by eating food contaminated with bacteria.

In addition, gargle with ginger decoction can also help alleviate oral diseases and so on.

Preventing motion sickness Eating ginger can help prevent motion sickness and is effective for vomiting and dizziness.

You can eat ginger about half an hour before the ride, or you can eat ginger during the ride.

In addition, some people have applied ginger tablets to the inside points to help prevent motion sickness.

Treating a Cold Eating ginger can help treat a cold.

Especially for colds and colds, frying ginger slices or boiling soup can help increase blood circulation in the body, help disperse cold and fever, and eliminate wind chills in the body.

Preventing disease Eating ginger can also prevent the occurrence of disease.

For example, eating ginger can help reduce the cholesterol content in the blood and reduce the occurrence of arteriosclerosis; eating ginger can also help remove free radicals in the body, prevent the destruction of organs and tissues, delay aging, and enhance the body’s resistance.

The disadvantages of eating ginger induce liver cancer. Ginger contains certain safrole. If it is a long-term excessive consumption of ginger, it is likely to increase the risk of liver cancer.

In addition, if the rotten ginger is still eating, it can easily cause the body to take in toxins, affect the detoxification function of the liver, and severely cause liver cancer.

Aggravating constipation If you are a person with constipation, it is easy to aggravate constipation by eating ginger.

Constipation is mostly caused by intestinal fever. Ginger is a hot and spicy food that can cause the body to get angry and increase constipation.

03 Apr

CYTS (600138): Enhancement of passenger orders, replenishment of passenger flow, reorganization of local operations continued to improve

CYTS (600138): Enhancement of passenger orders, replenishment of passenger flow, reorganization of local operations continued to improve

A brief review of performance for 18 years of revenue 122.

6.5 billion / + 11%, attributable to mother 5.

9.7 billion / + 4.

50%, deducting non-net profit increased by 14.

40%.

Operational analysis The overall company’s revenue and profit performance were in line with expectations. Attraction of tourist attractions replaced but mastered marketing capabilities and the development of convention and exhibition business to achieve increased revenue and net profit: the company’s revenue and net profit growth were +11 respectively.

3% / + 4.

5%, with the exception of the 10% increase in rental income of the China Youth Tourism Building, other businesses recorded positive growth, including travel agency / integrated marketing / hotel / attraction / strategic business / real estate sales revenue growth respectively.

52% / 24.

25% / 13.

84% / 5.

63% / 10.

5% / 307.

twenty two%.

Attraction plate Wuzhen receives tourists 915.

30,000 people / -9.

71%, Dongzha receives 400 tourists.

99 million people / -14.

At 48%, Xizha received 514 tourists.

40,000 person-times / -5.

61%.

With the decline in passenger flow, Dongzha has reduced the price of tickets by 10 yuan per person since September 20. By expanding the marketing of the exhibition business, creating a cultural town to improve the overall level of tourist orders, and revenue 19.

05 ppm / +15.

74%, customer order 208 yuan / + 28%, profit 7.

3.4 billion / + 5.

98%, excluding 1.

The US $ 9.4 billion government supplemented the investment income of Gubei Water Town and Wuzhen’s endogenous profit increased by 13%.

Gubei Water Town receives tourists 256 due to economic and summer flood conditions.

490,000 person-times / -6.

85%, revenue 9.

98 ppm / + 1.

98%, the customer unit price is 389 yuan / + 9.

5%, net profit 3.

08 billion / +169.

84%, the investment income of the real estate companies invested over 200 million, contributing to the growth of net profit.

Under the background of overall passenger flow, the overall attractions segment has achieved a rapid increase in customer unit prices and a change in business capabilities based on the mature development of Wuzhen through the source structure of conventions and exhibitions and the positioning of cultural towns.

China Youth Union achieved profit growth of 33.

51%, Shanshui Hotel deducted non-profit growth of 11.31%: Integrated marketing performed well, with revenue and profit of 4, respectively.

400 million / + 25.

12%, 6906.

60,000 yuan / + 33.

5%.

Driven by the expansion of the hotel’s scale and the transformation of the hotel, Shanshui Hotel’s revenue and deductions were 4 respectively.

9.2 billion / + 13.

8%, 0

28 ppm / + 11.

3%.

Affected by the adjustment of upstream manufacturers’ rebate policies and changes in the conditions of renewal contracts, Chuangge and Fengcai’s net profit declined (where Chuangge’s profit was 0.

29 ppm / -45.杭州桑拿

6%).

Gubei Water Town’s equity transfer was filed, and the company was assigned 5.

1613% of Gubei Water Township’s equity has completed industrial and commercial registration. Puyuan is expected to open in 2020. In the long term, the company will develop and operate a moat alternative in the future, and can obtain Everbright’s resources and funding support.

The moat developed by the company’s scenic spots has been continuously strengthened, and the passenger flow and per-capita unit price of Wuzhen and Gubei Water Town, which have been added to the industrial status upgrade and cultural exhibition properties, can increase.

Earnings adjustment and investment recommendations 19E-21E’s performance is 6.

74/7.

97/9.

2.2 billion, compared with the original profit forecast (19-20E net profit is 7).

USD 7/900 million), a decrease of 12% / 11%, mainly considering the need to strengthen the marketing of scenic spots in the current environment. At the same time, the budget for the construction of the Puyuan Project and the equity transfer of Gubei Water Township increased by 13%% / 16%, EPS 0.

93/1.

1/1.

27 yuan, PE 18/16/13 times, maintain BUY rating.

Risks indicate that extreme weather and unsafe factors occur; continuous changes in passenger flow around the area; advancement of the Puyuan project fails to meet expectations; travel agency business continues to replace

30 Mar

Changshu Bank (601128) Company Research: Micro-loan Recovers Demand Deposits and Bright Profitability Steadily Improves

Changshu Bank (601128) Company Research: Micro-loan Recovers Demand Deposits and Bright Profitability Steadily Improves

Event: Changshu Bank announced the third quarter report, and the first three quarters achieved revenue of 47.

900 million (ten years +11.

86%), net profit attributable to mother 13.

700 million (+22.

4%), the non-performing rate at the end of September was 0.

96% (same as QoQ), provision coverage ratio increased by 13.
.

5pc to 467%.

  The micro-loan business grew rapidly and customers steadily declined: 1) The size of micro-loans steadily increased: Q3 loan size increased by 3.9 billion, of which personal loans increased by 3.8 billion, and operating loans increased by 20.

400 million, the proportion of total loans steadily increased to 33.

52%; 2) The number of micro-credit customers increased rapidly, and at the end of September, there were about 25 customers with credit lines below 1 million.

70,000 households, a steady increase from the end of June 1.
.

60,000 households; 3) The customer structure continued to sink. Among the 3.9 billion loans increased in Q3, more than 50 million loans for public loans decreased by 1.6 billion, while micro loans under 1 million increased by 2.3 billion, and continued to be “small and micro”.

  Performance growth accelerated, and profitability steadily increased.

  1) Performance growth angle: Q3 single quarter revenue, PPOP, and net profit attributable to mothers increased by 8 respectively.

69%, 7.

62%, 26.

82%, an increase of 0 from the second quarter.

04 tablets, 2.

2 and 7

0pc, performance growth steadily accelerated.

  2) Net interest margin angle: Measured from the average caliber at the beginning and end of the period, the Q3 single quarter interest margin increased significantly by 13bps from Q2.

It is expected that the proportion of personal business loans (micro-loans) with higher yields on the asset side will increase steadily, while the cost of resistance will also decrease.1.2 billion (+7 chain.

1%).

  3) Capital return perspective: ROE in the first three quarters was 12.
.

27%, it is estimated that after excluding the conversion of convertible bonds, the ROE is increased to 13.

52%, increasing by 0 every year.

98.

In the medium and long term, the ROE of Changshu Bank will continue to rise steadily through the steady increase 南京夜网 in the proportion of micro-loan business.

  The quality of assets is excellent. Provisions naturally release profits, and the provision coverage ratio is as high as 467%.

At the end of September, the non-performing rate was flat at 0 from Q2.

At 96% level, the balance and proportion of focus loans (1.

63%) continued to maintain a “double down” trend.

In the case of excellent asset quality and continuous improvement, Changshu Bank realized a “provision of natural release of profits”. In the third quarter, the provision in the single quarter was even reduced by 15%.0.

11pc up to 467%, 4.

46%.

  Asset-liability structure: The proportion of loans increased steadily, and demand deposits grew brightly.
  1) Assets: Total assets increased by 1 in the third quarter.

48%, of which, under the circumstances of the development of micro-loan business, loans increased by 3.9 billion (+3).
8%), its proportion in total assets steadily increased to 58%.

  2) Debt side: deposits increased by 17 in the first half of the year.

In the case of 2%, Q3 deposits increased steadily by 1%, of which demand deposits increased by 2.2 billion (+4).

9%), effectively reducing the comprehensive cost of liabilities.

Interbank certificates of deposit + interbank debt surplus was 20.3 billion, accounting for only 12% of total liabilities.

5%.

  Investment suggestion: The overall performance of the third quarterly report of Changshu Bank is dazzling, the growth rate of performance has steadily increased, the micro-loan business has steadily developed, the asset quality has continued to improve, the core resistance advantage has been continuously reflected, and various indicators are leading the industry.

In the medium to long term, Changshu Bank’s micro-loan business system is mature. It is expected that the city’s proportion will continue to increase in the future, and it will gradually develop into a regional micro-loan business with a prominent investment value. At present, its 2019 and 2020 PB are only 1.

45x, 1.

32 times, there is room for contradictive improvement in the future evaluation, and maintain the “Buy” rating.

  Risk warnings: micro-loan investment is less than expected; the lifting of the ban on restricted stocks has brought about changes; the macro economy has exceeded expectations for a long time, and interest rate marketization has advanced beyond expectations.

18 Mar

BTG Hotel (600258): 19Q1 hotel REVPAR growth rate segmentation of high-end and franchise expansion trend unchanged

BTG Hotel (600258): 19Q1 hotel REVPAR growth rate segmentation of high-end and franchise expansion trend unchanged
[Event]BTG Hotel released 杭州桑拿网 the first quarter of 2019 quarterly report, and the company realized operating income of 19.4.4 billion, an annual increase of 0.99%; net profit attributable to mother 0.7.4 billion, a decrease of one year.90%; net profit after deduction is 0.56 ‰, a decrease of 3 per year.04%; EPS is 0.0756 yuan / share.Non-recurring profit and loss items are mainly financial investment income of zero.2000000000. [Comment]1) Revenue increased slightly, net profit decreased, and RevPAR was lower than expected. ①Revenue end: hotel business and attraction operation business respectively realized business.7.3 billion, 1.70 ppm, each increase by 0.67%, 4.49%. Hotel business: According to the hotel brand, such as the Home Hotel Group, the first travel stock hotels have achieved revenue of 15 respectively.6.2 billion, 2.12 ppm, an increase of 0 in ten years.42%, 2.57%. The slower growth rate of Rujia’s revenue was mainly due to the closing of stores and upgrading, which led to a decrease in direct sales revenue. Scenic business: The increase in revenue is mainly due to the increase in the number of visitors to Nanshan Park1.90%; from August 2018, the ticket retention ratio will be increased from 40% to 50%; and the purchase and sales model of some commodities will be changed to the pure rental venue model. ② Cost: The company’s comprehensive gross profit margin decreased by 0.61pct to 93.92%. Hotel business: maximized profit of 59.13 million yuan, a decrease of 10 per year.53%; of which, Home Inns Group realized a profit increase of 98.37 million yuan, a year-on-year decrease of 7.85%, mainly due to the decline in RevPAR of economy and mid- to high-end hotels. Scenic area business: realized total profit of RMB 98.78 million, with an annual increase of 10.66%. ③ Expense end: Expense control is effective, and the expense rate decreases by 0 every year during the period.97 points to 85.70%, in which the sales / management / R & D / financial expense ratios continuously change -0.44 points / -0.03 points / +0.05pct / -0.56 points to 70.55% / 12.88% / 0.33% / 1.94%. ④ Profit side: Net interest rate dropped by 0.11 points to 3.81%. 2) Operational data of the hotel business ① Operational data by brand: If Home RevPAR changes, the first trip will be more stable in 2019Q1, and all hotels Home Inn RevPAR will be 137 yuan / room · night, every time -0.5%; ADR179 yuan / room · night, +2 for two years.7%; October 76.7% per year -2.5 points.Among them, the mature hotel RevPAR 135 yuan / room night, many times -3.0%; ADR 173 yuan / room · night, +0 for ten years.1%; occ 78.4%, twice -2.5 points. In 2019Q1, the first travel stock hotel RevPAR 212 yuan / room · night, multiple +1.6%; ADR390 yuan / room · night, multiple +1.7%; October 54.40% every year -0.1pct. ② Operational data by product: Affected by the upgrade, economical short-term mid-to-high-end 2019Q1, such as RevPAR -2 for all hotels in the economy.3%, 5 higher than the middle and high end.7 points.From the perspective of mature stores, 2019Q1 economical RevPAR is longer -2.4%, which is 4 higher than the middle and high end.4pct. In the first quarter of 2019, the first travel stock hotel budget RevPAR was at least +12.6%, lower than the high-end -1.3% is higher than 13.9 points. ③ Operational data by model: The franchise model expanded rapidly in the first quarter of 2019, such as RevPAR +1 for all hotels directly operated by Home Inn.9%, -1 for earlier franchise management.6% is higher than 3.5 points.Direct-operated stores have better locations and operations, and RevPAR outperforms franchised stores.However, in terms of the number of new stores, 622 new stores were opened in 2018, including 578 franchise stores, accounting for 92.93%. As of the end of 2018, the company’s franchised stores accounted for 77.15%, the number of rooms accounted for 72.76%, the franchise chain trend remains unchanged. 3) Profit forecast: The company’s EPS for 2019-2021 is expected to be 1.05/1.21/1.28 yuan, corresponding to 19 for PE.5/16.9/15.9 times.As a domestic hotel chain giant, BTG Hotel has a steady growth in hotel business, a long-term competitive advantage, and has core driving factors. It is expected to develop and repair in the future and give it a “recommended” rating. Risk reminder: macroeconomic downside risks; hotel franchise management risks; hotel renovations are less than expected risks.

10 Mar

Golden Molybdenum (601958) Third Quarterly Report Comment: Molybdenum Price Enters Boom Cycle and Profitability Continues to Improve

Golden Molybdenum (601958) Third Quarterly Report Comment: Molybdenum Price Enters Boom Cycle and Profitability Continues to Improve
I. Overview of the incident The company announced three quarterly reports on the evening of October 24, and realized revenue of 67 in the first three quarters.22 ppm, a 10-year increase3.71%; net profit attributable to mother 4.460,000 yuan, an increase of 96 in ten years.71%; net profit of non-attributed mothers4.26 ppm, a 123-year increase.twenty three%.Second, the analysis and judgment benefited from the rising molybdenum price, and the profitability continued to improve the company’s revenue growth rate, mainly due to the contraction of the trading business; the high net profit growth was mainly due to the increase in product prices and output.1) Product prices have risen. The average price of 45% molybdenum concentrate in Henan in the first quarter to the third quarter of 2019 was 1,960 yuan / ton, an increase of 18% year-on-year, and the company’s gross profit margin in the first three quarters was 20.9%, an increase of 5 per year.6 units.2) The company’s production capacity is maximized, and the output of molybdenum concentrates, roasted molybdenum concentrates, ferromolybdenum, and molybdenum plate products have reached record highs. The overall financial health is healthy, and the expansion is expected to strengthen the company’s operating cash flow in the first three quarters65.4%, an annual increase of 23%.Three fee rate 5.61%, a slight increase of 0.95 units; selling expense ratio is 0.76%, the management expense ratio is 5.61%, financial expense ratio -0.73%.The company has over 3 billion currency funds in hand and an asset-liability ratio of 11.43%, with great potential for future epitaxial potential. The gap between supply and demand is maintained, and molybdenum prices are expected to continue to strengthen since 2016. Since the supply-side structural reform and environmental protection reform, the supply of the molybdenum industry has contracted significantly, and SME production capacity has gradually withdrawn.On the demand side, steel production at home and abroad has grown slightly; at the same time, the country is undergoing a structural adjustment period, and the proportion of special steel and alloy steel is constantly increasing, and the unit consumption is constantly increasing.In the next 1-2 years, domestic mine production will remain uncertain, and no large-scale production capacity will be involved overseas, while South American copper mines will still suffer from uncertain disturbances. Global supply growth is expected to gradually increase; demand continues to grow, and the industry still maintains a small growthDemand structure, molybdenum prices are still expected to 淡水桑拿网 remain firm. Third, investment advice.It is expected that the EPS for 2019/2020/2021 will be 0.19/0.23/0.26 yuan, corresponding to the current sustainable PE is 37/31/27 times.The company currently expects the valuation to be close to within 10% of the value for 5 years, covering it for the first time and giving a “recommended” rating. Fourth, risk warning: increase production capacity release risk, downstream demand is less than expected risk.

14 Feb

Workplace Newcomer Office Politics

Workplace Newcomer Office Politics

Absolutely, some human resources researchers have dubbed this complex “office problem” “office politics.”

“Politics” is not a joke that can be laughed at casually.

From the word analysis alone, these text lovers seem a bit nervous.

But thinking about the original meaning of “politics”, we can’t help but make a case.

Remember the politics textbook in middle school tells us: Politics is an ideology based on economics.

From this perspective, it is not wrong to call “office issues” “office politics”, and it is a three-pointer.

  Think of “office issues” as big as faction issues, interest issues, as small as position changes, peach-colored gossip, and so on. Isn’t that directly referring to “personal interests” and “economic interests”?

  The ancients said: “Man is not for himself, it is destroyed by nature.”

If you understand the original intentions of the people who create office problems and the suffering of those involved in office politics, you will not be surprised, let alone blame.

Sartre tells us: existence is reasonable!

Since this “politics” is cultivated from the fertile soil of “economics”, why should our practitioners and managers be annoyed by those who like to engage in office politics and despair for companies with office politics?

  The animal world has its own ecological chain, does the business world also have its “ecological chain”?

We certainly like a quiet and peaceful ecological environment, and we also accept a competitive ecological environment with a competitive nature.

For modern enterprises in the fiercely competitive external environment, the absolute calm and stability within the enterprise is already a luxury.

When a group of talents with different voices and different interests are pursued within the company, it does not necessarily mean that the company will be “finished.”

On the contrary, there is a little competition among internal talents and a little mutual restraint. For a small “office politics”, isn’t it an aphrodisiac for the original “backwaters” enterprise?

  1. Getting Started: Developing Your Emotional Quotient In the dictionary of office politics, there is never any “reasonable”, “irrational”, only “improvement”, “irrational”.

The office is not a talent market. There is no standard system for “up and down”, so knowing how to develop the intelligence-emotional intelligence that is not taken into account in your own standard test is to win the transformation of the office’s “political struggle”.
  So, how to develop your own emotional intelligence?

The first person to propose “emotional intelligence” was Yale University psychologist Saloway. He believes that emotional intelligence should include the following aspects: 1. Able to fully understand their emotions and have the basics of understanding self and psychological intuition.ability.

2. Self-motivation. This is the ability to promote emotional focus.

3. Control your emotions, which is the ability to perceive to adapt to various situations.

4. Emotional orientation, or perception of the emotions of others, this attention to others leads to altruism.

5. Master interpersonal relationships and the ability to interact with others.

  Many experts believe that people who are struggling in the workplace are indispensable if they want to make breakthroughs in their emotional intelligence, awareness of competition and cooperation, awareness of role change, awareness of image, professionalism and learning.

Among them, the awareness of competition and cooperation is particularly important.

  2, actual combat articles: how do colleagues and you compete?

  When you dig into the hollow and come up with a good idea, or when you work hard to make a great contribution to the company’s development, some people try to attribute the credit to themselves.

What should you do in this situation?

The following methods may help you.

  Letters written with clear facts must not have any bad effects, and the content of the text must not make the other party uncomfortable.

The main purpose of writing the letter is to euphemistically remind the other party of how the thoughts that they had proposed at random originally evolved into this delightful look today.

Where appropriate in the letter, you can include the relevant date, title, and references to any existing written evidence.

It is important to suggest a face-to-face discussion at the end of the text message. This will give you the opportunity to implicitly strengthen your true meaning again: this idea is what you came up with.

  Praising each other and overcoming their own unique talents and insights to overcome this colleague, this method is particularly needed for professional women.

Many researchers have found that female employees like to do things from the perspective of “us” rather than “me”, so their ideas and initiatives are often misappropriated by male colleagues.

If you focus on the positive side of your business, your colleague is also trying to do the best job, and his or her unique perspective on what to do may help you solve this potentially difficult problem.

  At first glance, it seems that this is not a method or not a good method.But for some, this may be the best.

You should ask yourself: Which is more important, whether to put the idea into practice, or to have the reputation to come up with the idea alone?

In some cases, in some cases you are about to accept an important promotion that requires a lot of time and energy; or it can’t be replaced except for a “principle question”.

Withdrawing from the battle in these circumstances may be a wise move and a last resort.

  3. Technical articles: What can’t be said in the office?

  Colleagues are working partners and it is impossible to ask them to be as forgiving and considerate as your parents, siblings.

Many times it is best to maintain an equal and polite partnership between colleagues.

You should know that there are some things in the office that you should not say, and some things that you should not let others know.
The questions you should first figure out: 1.

Can your family background be adjusted to make a big difference in your work?

2.

Is your relationship with certain relatives or friends inappropriate for others to know?

3.

Does your history affect how others evaluate your moral qualities?

4.

Do some of your distinctive thoughts touch sensitive nerves?

5,

Is your lifestyle somewhat contrary to tradition?

6.

Can your personal relationship with your boss be an open “secret”?

7.

Will your re-exposure with some of your personal connections at the top of the company bring you obstacles or benefits?

  Private ownership is also a relatively speaking concept. The same thing is a trivial matter in one environment. Changing the environment may be very sensitive. The above multiples can be a valuable part of you!

  Questions you should pay attention to: 1. Don’t do private life inside the company, whether it’s an office, toilet or corridor; 2. Don’t show your colleagues superior and superior relationships with your superiors, especially don’t show off your superiorsPersonal relationships; 3. Even in private, don’t just overrule your past and secret thoughts to colleagues.

Unless you have left the company, you can be friends with your former colleagues; 4. If your colleagues have become good friends, do not often contact him or her in front of everyone.

Especially when it comes to work issues, it is necessary to be fair, to have independent opinions, and not to gang up; 5. To treat colleagues who particularly like to inquire about the privacy of others, be “manner and courteous,” and firmly say no if you don’t want to.

04 Feb

Soaking in hot springs needs symptom

Soaking in hot springs needs symptom

You need to learn how to choose the right hot springs 1.
Irregular menstruation: Qiquan Qi can enter the body and penetrate into the nervous tissue to adjust the nerve function. It also has a good effect on the human endocrine gland function, which can restore women’s menstruation and delay premature aging.
When using 最好 泉, it is best to maintain a water temperature of 38 ° C ~ 40 ° C and take a full body bath for 20 ~ 30 minutes each time, once a day.
2.
Sensitive skin: bicarbonate springs Bicarbonate springs, containing bicarbonate such as calcium and magnesium, have a sedative effect, have a curative effect on allergic patients, chronic skin diseases, urticaria, and female patients with sensitive skin can choose.
3.
Chronic skin diseases: Sulfur springs containing sulfur springs have the function of softening the stratum corneum of the skin, and also have the effect of antipruritic and detoxification. It is an effective method to eliminate acne, lighten pigmentation and treat chronic skin diseases.
4.
Cold body and weak body: Simple carbonated spring, simple carbonated spring, the temperature of the spring is lower, which can promote the expansion of blood vessels in the body and help improve blood circulation. It is most suitable for women with heavy cold in the body. In addition, the temperature of the spring is lower, so women can bathe moreLong, physically weak women can soak.
5.
Rheumatism: The radioactive spring is rich in radon and radium. It can be used for soup and drinking. It is effective for patients with diabetes, neuralgia, rheumatism and gout.You can choose a radioactive spring.
.

01 Feb

Winter Gold Detox Partner Recipe Mushroom Fungus

Winter Gold Detox Partner Recipe Mushroom Fungus

Nutrition experts recommend that you often eat fungal plants in winter, which is beneficial to maintaining your body, especially the special ingredients of shiitake mushrooms and black fungus, and has the functions of cleaning blood and detoxifying.

  In addition, fungi are rich in selenium.

Taking it regularly can lower blood pressure, cholesterol, prevent vascular sclerosis, improve the body’s immune function, increase the content of immune globulin in the body, stimulate the proliferation of hematopoietic function and smooth intestines, and increase intelligence.

Then let me recommend a beautiful match with mushroom fungus!

  Shiitake Mushroom Fungus Tofu Shiitake Mushroom Fungus Tofu making material: Main ingredients: Tofu (North) 150g Accessories: 30g (fresh) mushroom, 30g fungus (water), 15g enoki mushroom, 20g vermicelli: 5g spring onion, 3 grams of ginger, 3 grams of salt, 15 grams of vegetable oil.

  1.

Wash the shiitake mushrooms, fungus and enoki mushrooms and soak in water for 3 hours.

  2.

Cut the tofu into pieces.

  3.

Lift the oil pan, fry the tofu, add the right amount of water, add the mushrooms, fungus, enoki mushrooms, and simmer for half an hour, then add the fans, onions, and seasoning.

  Health Tips: Nourishing the lungs and stomach, widening the intestines and reducing turbidity (lowering blood lipids); Diabetes are those with lung and stomach yin deficiency, and those who have burned the lungs due to virtual fire., Dry cough without sputum, red tongue, thin white fur, and thin pulse count, especially suitable for diabetes complicated with pulmonary tuberculosis or bronchitis belong to lung and stomach yin deficiency; if there is no white fungus, bamboo shoots can be used, no mushrooms, straw mushroom can be used.

  Fungus food with grams of fungus fungus (water hair): Fungus should not be eaten with snails. From the medicinal properties of food, cold snails encounter smooth fungus, which is not conducive to digestion, so it should not be eaten together.

  Patients with hemorrhoids should not eat the same fungus and pheasants, pheasants have small poisons, and the same food can easily induce hemorrhoid bleeding.

  Fungus should not be eaten with wild ducks. Wild ducks are sweet and cold, and easy to digest.