Evergreen Group (002616) In-depth Report: Centralized Operation of Biomass Leading Heating Capacity

Evergreen Group (002616) In-depth Report: Centralized Operation of Biomass Leading Heating Capacity
Solid operation and lean management help the company grow. The company started with the production and sales of gas appliances. After a long-term stable operation, it has developed into a domestic leader in biomass power generation and industrial heating.Good credit reputation has enabled the company to win more external financing, improve internal management mechanisms, and reduce the company’s production costs and profitability.  The company’s performance in the past three years has maintained rapid growth, good cash flow, and an incentive mechanism in place. 厦门夜网 Biomass energy has broad development space, and the environmental protection benefits of combined heat and power are prominently affected by fuel and supplementary policies. The biomass energy industry has encountered difficulties in the past two years.Driven by the multi-dimensional factors of government-approved biomass energy and people ‘s livelihood and environmental protection attributes, the advancement of biomass energy use technology, the implementation of compensation policies, and the gradual maturity of business models, the biomass industry is gradually declining and the industry integration is accelerating.Take the road of scale and industrialization.  The combined heat and power project has high comprehensive energy utilization efficiency.Under the background of the blue sky defense battle, the elimination of small and medium-sized boilers is accelerating, and biomass and coal-fired cogeneration projects are facing broad growth space. The company has a wide range of projects in hand and a large number of projects. It is expected that the future growth of the company’s business will maintain a stable development trend.In terms of biomass projects, long-term power generation projects have excellent operation and management. Yishui project, Yutai project, Mingshui project, Ning’an project and Zhongshan project have been put into production for many years, with good cost control and strong profitability.The proposed project transforms the combined heat and power generation, and the Tancheng project brings the demonstration benefits to help multiple projects land quickly, Tancheng, Tieling, Xinye, Binxian, Yongcheng, Songyuan, Funing, Yongning, Yanjin, Huaxian andThe Zhongxian project is expected to focus on production in these two years.In terms of centralized heating projects in industrial parks, the 18-year operation of the Mancheng project has opened a new chapter for the company’s coal-fired combined heat and power. Shaoguan, Maoming, Xiaogan, and Shexian projects have promoted rapid commissioning in about 20 years.The centralized operation of these projects will guarantee the company’s high performance. Covered for the first time, give “Buy” rating, target price 9.5-12.6 yuan We estimate that the company’s net profit attributable to the parent company in 19-21 will be 3 respectively.0/4.7/6.0 million yuan, the budget revenue of 19-21 years is 0.40/0.63/0.81 yuan, corresponding PE is 21/13 / 10X.  We think the company’s stock is currently worth 9.45-12.Between 6 yuan, there is a 10% -45% premium space.Covered for the first time, giving the company a “Buy” rating.  Risk reminder: Project construction progress exceeds expectations, capital starts to be too large, cash flow is tight

Baotai (600456) January 2019 report performance preview comment: turnaround from loss to profitability significantly improved profitability

Baotai (600456) January 2019 report performance preview comment: turnaround from loss to profitability significantly improved profitability

Turning losses into profits, profitability improved.

The company announced that it is expected that the company’s net profit attributable to shareholders of listed companies in the first quarter of 2019 will be about 29.4 million. After excluding non-recurring gains and losses, the company is expected to realize net profit attributable to shareholders of listed companies in the first quarter of 2019.About 10,000 yuan.

The net profit attributable to shareholders of listed companies in the first quarter of 2018 was -828.

650,000 yuan, attributable to shareholders of listed companies after replacement of non-recurring profits and losses -953.

640,000 yuan.

The company continued the trend of improving performance in 2018.

The performance growth expectation is that the company will continue to deepen reforms in the first quarter of 2019, effectively improve the quality of business entities, actively explore the market, optimize the industrial layout, increase product distribution and sales volume, and have a relatively large increase in operating income compared with the same period last year.Period performance turned losses and profit.

The domestic demand for chemical titanium has fully recovered, and the demand for aerospace titanium has grown rapidly.

The proportion of global commercial aviation consumption is 46%, the proportion of military titanium is 9%, and the proportion of titanium consumed in the entire aviation industry exceeds 50%.

However, most of the demand for these titanium products comes from the chemical industry, and the technical content is relatively low. High-end demand in the aerospace field accounts for about 10%.

The chemical industry is mainly focused on “two alkalis”. In 2017, the “two alkalis” industry’s prosperity has significantly improved, and its profitability has improved significantly, driving the demand for chemical titanium materials.

In 2017, the demand for chemical titanium materials was 23,948 tons, a year-on-year increase of 29.


In addition, in recent years, the demand for aerospace titanium has maintained rapid growth. According to the China Nonferrous Metals Industry Association, the aerospace titanium consumption in 2015-2017 was 6,862 tons, 8,519 tons, and 8986 tons, respectively, an increase of 41%.24%, 5%.

This is closely related to the high-speed development of aerospace in developing countries.

With the growth of China’s aerospace titanium consumption, it is expected to exceed the titanium consumption in the chemical industry in the future.

The upgrade of China’s large domestic aircraft and military aircraft will bring long-term demand for aviation titanium.

Large aircraft transport 20, AG600, C919 gradually mass production.

In addition, the only three-percentage combat 杭州桑拿网 aircraft previously were three-generation combat aircraft. The second-generation combat aircraft is no longer suitable for modern warfare. Compared with the third-generation combat aircraft, it is becoming more mature.Successive service of -20, the next generation of combat aircraft will gradually retire.

Investment Advice.

The company is the millennium’s largest research and production base of titanium and titanium alloys, and one of the oligarchs of high-end titanium materials in China.

As domestic large aircraft and military aircraft enter mass production one after another, this will activate long-term domestic demand for high-end aviation titanium.

We expect the company’s annual revenue in 2019 and 2020 to be 0.

51 yuan, 0.

72 yuan, the current expected PE is 46 times, 32 times, maintaining the company’s 成都桑拿网 “cautious recommendation” investment rating.

Risk warning: The demand for high-end titanium is lower than expected, and the price of sponge titanium is sluggish.

To cure irregular menstruation, find the root cause first

To cure irregular menstruation, find the root cause first

Menstruation is the exfoliation of the endometrial cycle under the action of estrogen secreted by the ovaries.

Normal menstruation includes normal menstrual cycle, menstrual flow, color, and physiological response. Any abnormality of any element is a menstrual abnormality, which is often referred to as “irregular menstruation.”

Experts point out that irregular menstruation is a common gynecological disease, and the cause may be organic appearance or dysfunction, especially the irregular menstruation caused by the organic nature. Delayed treatment will lead to aggravation of the condition.

  Irregular menstruation and non-trivial diseases do not affect women’s health in a timely manner1.

Prolonged menstrual flow, irregular uterine bleeding can lead to hemorrhagic anemia, bleeding, dizziness, fatigue, palpitation, palpitations, shortness of breath and other phenomena.


Organic menstrual disorders such as uterine fibroids, endometrial polyps, etc., cause irregular menstruation, if not treated in time, it will lead to aggravation and deterioration.


One or more of the hypothalamic-pituitary-ovarian axis dysfunctions will lead to anovulation. This is one of the pathophysiological basis of menstrual disease and one of the causes of infertility. Some patients have ovarian corpus luteum function despite ovulationInsufficiency can also cause infertility.


Irregular menstruation affects women’s physical health, which may cause abnormalities such as skin stains, roughness, dullness, dullness, and even irritability.

  Experts point out that the occurrence of menstruation is the result of the combined effects of many factors, and that women alone can’t accurately identify the root cause of irregular menstruation due to their own lack of professional medical knowledge. It is best to go to gynecology to find out in time.

  The treatment of irregular menstruation and non-severe diseases requires symptomatic treatment according to different “root causes”. The symptoms of irregular menstruation are obvious, and women can quickly discover that they generally do not develop to a very serious degree.

However, the cause of irregular menstruation is multifaceted, and correct and effective treatment must be given to different causes.


For organic lesions such as uterine fibroids and endometrial polyps, surgical treatment should be performed for the primary disease.


Cycle disruption: Cocoa uses different treatment options depending on age.

Adolescent girls with menstrual disorders can use estrogen, progestin mimics ovarian function, that is, artificial cycle treatment has a good effect; and women of reproductive age, menopausal menstrual irregularities must eliminate lesions in the vagina, uterus, uterus, uterus, etc.After excluding organic arthritis, treatment for different causes.


Infertility: Different ovulation-promoting drugs can be selected according to the patient’s condition to improve ovarian function or replace some functions of the pituitary and hypothalamus.


Hemorrhage and anemia: Due to the long menstrual period and heavy menstrual flow, in addition to general hemostasis measures, hormones or curettage can be replaced as needed to stop bleeding.

The longevity of the elderly

The longevity of the elderly

The psychological state of the elderly largely determines the longevity of the elderly, so what kind of mental state does the old man have in order to live longer?

What are the psychological characteristics of long-lived old people?

Let us take a look at the psychological characteristics of the elderly with longevity.

  The longevity of the elderly is everyone’s concern, so how can the elderly live longer?

Long-lived old people have some psychological characteristics?

Let us take a look at the psychological characteristics of the elderly with longevity.
  1, open-minded, optimistic and open-minded people are mostly open-minded, enthusiasm and straightforward, helpful, not easy to anger.

Facts have proved that heart-thoracic fractures, more sorrows, more chances of illness; and broad-minded, optimistic, and less chance of illness.

  2, love life, good at life Many outstanding figures in ancient and modern China and abroad, have a clear purpose of life and goals, still able to work hard until the age of eighty or ninety.

They love life, love their work, and have a scientific lifestyle, happy mood, so that the various organs of the body are coordinated and in good condition.

  3, with people for the good, contentment, Changle, many longevity old people are heart and kind, not angry, not luxurious, diligent and simple, respectful and old, can get along with family and others, so that their physical environment is in a balanced state for a long time.
  4, a wide range of interests, improve the pursuit of calligraphy and painting chess Qinqin can cultivate sentiment, make people happy; improve the pursuit, make people think, delay brain aging.

Many long-lived people love chess and calligraphy, are extremely responsible for work, and strive for excellence.

Due to the cultivation of art and the persistent pursuit of the cause, the body has been exercised and longevity has been achieved.

  5, selfless selflessness, resoluteness, straightforwardness, strong and resolute, straightforward and straightforward, selfless, selfless, is a common feature of long-lived people with strong careers.

The resolute, straight-hearted person has a wide chest and a strong coordination of the nervous system. It can adapt to sudden changes in the environment; selflessness is self-confident and conducive to longevity.

What color you hate determines your character

What color you hate determines your character

Pick a color you hate the most and you can polish your hidden character: A.

Red B.

Black C.

Yellow D.

Pink E.

Green F.

Blue G.

Purple H.

Brown results analysis hate brown: people who hate brown take a laissez-faire attitude in love.

Likes active, direct and strong love to do anything, good relationship, this will make your lover uneasy.

You spend more time with your friends than your lover, so your lover will one day leave you.

  Hate Red: People who hate red don’t like others being too close to him.

Because of this, you will escape from the sudden and persecution-type love.

In fact, you are eager for intense love in your heart, but because of this contradictory personality, you have been going up and down on the road of feelings. These ups and downs also make you more entangled in love, so that you miss the good destiny.

  Hate Black: A person who hates black looks like a freelancer who hates being bound in love.

I believe in choosing objects with my own instincts.

In particular, I believe that love at first sight, even if the other party has an object or family, you will desperately pursue him, which is very dangerous.

  Hate yellow: People who hate yellow are in love and like to impose their values on each other.

Therefore, they are mostly looking for similar or ordinary objects, and they will never become interested in artists who cannot predict the future.

But people who resemble themselves for a long time and feel that they lack a certain kind of stimulation and want to change the status quo are really contradictory.

  Hate pink: People who hate pink don’t feel candid enough in love.

Often it causes the other half to be fussy. Even if the other party gives you a gift, before saying thank you, they will pick and choose a bunch of things that should not be said.

To be honest, you just want the other person to hold you up and treat you obediently.

  Hate green: People who hate green do not want to become adults in their mentality, so in love, they want to be prepared to take care and attention, and hope that the other party will continue to pay for themselves.

Because of this kind of personality that is not easy to think for the other side, often speaking words that hurt people but they are not conscious, in the end, it will only make lovers sad.

  Hate blue: People who hate blue seek complementary objects in love.

If you lack talent, temporarily admire talented people.

For you, people who have advantages they don’t have will make your life more exciting and exciting.

But this kind of character is easy to show tiredness, and once you meet a more powerful object, you will immediately empathize with each other.

  Hate purple: People who hate purple, like to take control in love.

The companion says that it is to love each other for change, it is better to follow their own wishes to shape the lover.

You are strong in love, love to control people, so that your lover can’t help but want to escape from your side.

However, because you are confident, you won’t be too sad even if your lover leaves you.

Love is actually a stress

Love is actually a stress

Love brings both emotional excitement and emotional excitement.

The former experience is often sweet and short, while the other experiences are mostly bitter and long.

As far as psychology is concerned, the course of love can be a process of perfecting personality and inspiring potentials. From this, we can see how a person can cultivate his ability to crush love.

  Indeed, love bombardment generally refers to a person’s good ability to adapt to adversity, cracks, tragedies, and threats.

Love bullets originate from resilience. It is a new concept advocated by the international psychology community. It highlights the nature of good social adaptation to human health.

As a result, love bombardment includes a positive assessment and effective response to the emotional experience of depression in love, which can trigger the role of stimulating potential, invigorating emotions, and even improving health.

  Lazarus, a famous American psychologist, pointed out: “The key to effectively reducing the stress of life lies in the positive assessment of stress.

The American psychologist Bennard also proposed a key theory of consciousness for bullets, which refers to an individual’s “reflexive consciousness of stress structures and their rapid response to overcoming strategies.”

In other words, key consciousness can be described as the skill of individual stress response and coping strategy selection.

Facing the stress of life, key consciousness will help a person decide which coping strategy is most suitable to ensure the best effect of squashing.

  Following the principle of love’s bombardment, one’s emotional energy is conserved.

When a person is facing all kinds of emotional fluctuations in love, such as worry, jealousy, jealousy, hatred, despair, etc., he or she can adopt self-destructive methods to cope, such as self-pity, self-sigh, self-harm, etc., but he (She) can also adopt self-transcendence methods to integrate processing, such as sublimation transfer and self-improvement.

Among them, the role of love bombs is to enable people to direct their emotional energy in a positive way without causing harm to themselves or others.

  In fact, love bullets make people brave enough to face the blow of broken love, turn grief into strength, and sublimate their emotions.

This is always a test of human nature, and it is also a transcendence of human nature.

And in the long river of life, there is nothing that evokes the passion of life like love, and there is nothing like that that breaks down the morale of life in the same way as love.

  Therefore, how to cultivate love bombs is not an optional consideration, but a test that will sooner or later be faced.

And love bombing brings both personality growth and potential development.

Just as the love experience can greatly arouse a person’s passion for life, love can also suddenly give people a lot of feelings about life.

In this sense, a life that has not experienced love bombing is an incomplete life, and a person who is not good at love bombing is also a bad person.