Sunshine City (000671): Net profit attributable to mother increased by 42.56% net debt ratio is significantly optimized

Sunshine City (000671): Net profit attributable to mother increased by 42.56% net debt ratio is significantly optimized
Investment Highlights: Q1-Q3 revenue grew steadily, and net profit attributable to mothers increased 42.56%.From Q1-Q3 in 2019, the company achieved a total operating income of 320.26 ppm, an increase of 23 over the same period last year.47%; net profit attributable to parent company was 22.54 ppm, an increase of 42 over the same period last year.56%; realized reduced budgetary benefits of 0%.49 yuan, an increase of 25 over the same period last year.64%. The resistor structure is optimized, and the net debt ratio is significantly reduced.As of the end of the reporting period, the total assets of the company were 3103.1.8 billion yuan, an increase of 17 over the same period last year.49%. Reporting the average, the company’s gross margin was 28.38%, an increase of 1 over the same period last year.90 averages; net margin is 7.85%, an increase of 1 over the same period last year.55 units.In terms of debt structure, as of the end of the reporting period, the company’s assets and liabilities were reorganized84.39%, a decrease of 1 from the same period last year.16 units; net debt decreased by 142.16%, down 65 from the same period last year.57 units. China Mintou completely withdrew from Sunshine City, and the equity change came to an end.According to the company’s announcement on February 26, 2019, Zhongmin Jiaye (controlled by Zhongmin Investment) transferred 50% of its Shanghai Jiawen (former Zhongmin Jiaye Subsidiary) holdings to Fujian Jebsen TradingAfter the transfer, Zhongmin Jiaye and Fujian Jebsen each hold 50% of Shanghai Jiawen.According to the company’s announcement on March 30, 2019, Shanghai Jiawen intends to transfer all of its shares in Sunshine City within six months after 15 trading days from the announcement date.As of October 23, 2019, Shanghai Jiawen has reduced its holding of Sunshine City shares by 3535 through centralized bidding transactions.260,000 shares, with a shareholding ratio of 18.04% dropped to 17.29%.According to the company’s announcement on October 24, 2019, Fujian Jebsen will transfer 50% equity of Shanghai Jiawen held by Zhongmin Jiaye.After this change in equity, Fujian Jebsen will hold 100% equity in Shanghai Jiawen.So far, China Mintou has notified this stage of the equity transfer of Sunshine City. profit prediction.We estimate that the company’s total operating revenue for 2019-2021 will be approximately RMB788 trillion, 1065 trillion, and 1433 trillion, respectively.Net profit attributable to mothers was approximately RMB 41, respectively.8.3 billion, 56.4.9 billion 合肥夜网 yuan, 75.1.1 billion.We calculated that the company transparency RNAV is 11.52 yuan. Investment suggestion: Maintain the rating of “Long-term Market”.The company has completed the “3 + 1 + X” national layout, and the sales scale has entered the 100 billion legion. The total land reserve can support the continuous expansion of land scale for 3-4 years, diversified financing channels, controllable costs, and rich experience and incentives.The mechanism is in place, and the overall competitiveness competes.We expect the company’s corresponding EPS in 2019-2020 to be 1.03 yuan and 1.39 yuan.As of October 25, 2019, the company closed at 6.60 yuan, corresponding to PE in 2019 and 2020 at 6.39 times and 4.73 times, corresponding to PEG at 0.17 times.Give the company August 2019?10 times PE, 6-month reasonable value range is 8.26?10.33 yuan, maintain the “preliminary market” rating. Risk warning: The company’s sales are lower than expected, and the industry is subject to restrictions and there are downside risks.

Huaneng Hydropower (600025): In the second half of the year, the water supply has substantially improved, and the transfer and distribution have obtained large investment returns

Huaneng Hydropower (600025): In the second half of the year, the water supply has substantially improved, and the transfer and distribution have obtained large investment returns

Event: The company released its 2018 annual report and 2019 first quarter report.

The company achieved operating income of 155 in 2018.

16 ppm, an increase of 20 per year.

78%; net profit attributable to mother 58.

30,000 yuan, an increase of 165 every year.

10%.

The company achieved operating income of 44 in the first quarter of 2019.

3.8 billion, an increase of 49 per year.

65%; realized net profit attributable to mother 8.

40,000 yuan, an increase of 137 every year.

34%, in line with Shen Wanwanyuan’s expectations.

Investment points: The water supply in the second half of the year has improved significantly + the supply and demand of electricity has improved. The company’s volume and price rose in 2018 and the first quarter of 2019.

Before the Lancang River Basin, the overall water level in the Lancang River Basin before 2018 was low and high. In the first half of the year, the water was dry and the company’s power generation in the first half of the year decreased by 9.

07%; in the third quarter, the water supply improved significantly, the acquisition of new generating units was put into operation, and the company gradually realized power generation of 817.

2.2 billion kWh, an increase of 11 in ten years.

62%.

In May 2018, the UHV DC project from northwestern Yunnan to Shenzhen was put into operation, and the Guangdong channel was further opened. At the same time, the electricity supply and demand pattern in Yunnan province improved. The company’s on-grid settlement electricity price increased by 1.
.

5 cents / kWh, the increase in volume and price helped the company’s revenue to grow significantly.

In the first quarter of 2019, the Lancang River basin continued to have a good trend of incoming water. The water volume in the Xiaowan section was 17% more each year, and the company’s completed power generation increased by 43.

28%.

The transfer of the equity of Jinzhong Company resulted in a large amount of investment income and increased profits.

The company listed in November 2018 to transfer the holder’s 23% equity of Jinsha River Midstream Company, and the final transaction price was 61.

1.7 billion, realized disposal income of 36.

76 trillion, significantly increased profits.

After subverting non-recurring gains and losses, the company’s net profit attributable to mothers increased year by year.

82%.

The upstream unit of the Lancang River ushered in the peak production, and the company’s capital expenditure is expected to usher in an inflection point in 2019.

The company has the right to develop the entire basin of the Lancang River. Except for the Dachaoshan Power Station, other generators have replaced the company’s wholly-owned development.

2018 is the period of intensive production of turbine units in the upper reaches of the Lancang River, and the company added 325 new installations in 2018.

50 thousand kilowatts.

Based on the progress of the construction in progress, we judge that the remaining 2.4 million kilowatts of the Lancang River project under construction will be completed and put into operation in 2019.

As the above projects are put into operation one after another,南京桑拿网 it is expected to become the inflection point of the company’s capital expenditure in 2019, and the free cash flow of the follow-up company will be significantly improved.

The pricing of the transmission and distribution of the Northwest Yunnan DC project has been re-established, and the company’s profitability is expected to increase significantly.

On March 27, 2019, the National Development and Reform Commission re-approved the Northwest Yunnan UHV DC transmission exchange fee to 9 per kWh.

2 points, the transmission price of supporting AC projects in Yunnan Province is 1 per kWh.

50 points.

The new electricity price has been implemented since the date of announcement, which has dropped significantly compared to the previous transmission and distribution prices. The company’s existing electricity market-based transaction ratio is about 70%. The outbound Guangdong Electric Power implements a back-end push-back mechanism.
Guangdong ‘s current clean energy transformation is decisive, significantly increasing the proportion of outsourced electricity, and Guangdong ‘s power consumption continued to increase in the first quarter of 20193.
9%, while the local unit ‘s power generation is reduced by 7 per year.

5%.

The newly purchased electricity was mainly based on Northwest Hydropower, which helped the company’s unit power consumption and the price rise.

Earnings forecast: Considering the significant improvement in water supply in the first quarter and the expected downward revision, we raised the company’s net profit forecast for return to mother for 2019-2020 to 38.

21, 46.

5.2 billion (34 before adjustment respectively).

38, 41.

200 million), plus the net profit forecast for mothers in 2021 is 49.

6.3 billion, the current sustainable corresponding PE is 19, 16 and 15 times.

The company’s follow-up profitability is expected to continue to improve and maintain a “Buy” rating.

Do you still use the wrong moisturizing method in winter?

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Do you still use the wrong moisturizing method in winter?

It’s the end of the winter. Do you feel a little tight when you touch your face?

Looking in the mirror, I suddenly noticed that the fine lines had climbed up to my cheeks.

Don’t worry, this does not mean that you are “old and faint”, most of the time, it is caused by dryness.

However, while picking up a variety of different moisturizers, beauty-loving girls may have closed the eight misunderstandings pointed out by Taiwan’s “Health” magazine, making themselves farther and farther from the “water spirit” requirements.

Don’t believe it, just look at what the experts say.

  Myth 1: Wash your face diligently, cleaning products do not change seasons, say goodbye to hot summers, and no longer shine. If you still wash your face with strong cleaning products like summer, it will make your face wash and dry, and it will cause sensitive symptoms such as redness.Peeling, itching, etc.

  At this time, you should put away the soaps (or soap bases) and facial cleansing products containing fruit acid, salicylic acid and other ingredients. Avoid using scrub cleansers and use solutes and mild moisturizing cleansers.

  Do not wash your face more than twice a day, and the water temperature should not be too high, otherwise the hot water will damage the sebum membrane of the skin, reduce the ability of the epidermis to retain water, stimulate the expansion of facial capillaries, and make people feel itchy and uncomfortable.

  Myth 2: Exfoliating every week. Although exfoliating can help the skin regain its brilliance, excessive exfoliation (for example, more than once a week), or using several exfoliating products at the same time, will make the stratum corneum more exacerbated.Thinner and thinner, losing its ability to store water and resist external environmental damage.

  In winter, it’s okay to take care of laziness.

Longer exfoliating interval is better for the skin.

Even for oily skin, exfoliating once a week or two is sufficient; for people who have dry skin, they can even extend the time to once a month.

  Misunderstanding 3: Only moisturizing lotion. Because there is no excess oil or oil, many people do not touch oily skin care products. After washing their face, only moisturizing lotion is thought, so that the skin will be tender and translucent., But make the skin dry.

  This is because if there is no subsequent water-locking product, the lotion will evaporate quickly, especially when the outside is very dry, the evaporation rate will change, and it will even take away the moisture from the face, skin, and skin.

  In winter, you should choose non-alcoholic products, and when the face is still wet, quickly put on a moisturizing product, and then add a layer of lotion or cream to lock the moisture in time.

  Misunderstanding 4: When spraying mineral spray constantly to make up for horizontal maintenance, some people like to bring a bottle of mineral spray with them, and take out a spray at any time to relieve discomfort.

In fact, it may suck up the moisture of the skin.

  Although moist mineral water contains trace amounts of mineral ions, it can indeed replenish moisture, but because it does not contain water content that can lock water, it is often more effective.

If sprayed too early, without moisturizing the lotion to lock in moisture, it will lead to a vicious cycle of dry-wet-wrapped skin.

Mistake area 5: The daily mask is not a panacea for creating supple skin. Moreover, if it contains ingredients such as alcohol and fruit acid, applying it for too long will irritate the facial skin and make it fragile.

  In winter, it is best to use a simple moisturizing mask with ingredients, and apply it once or twice a week. The time should not be too long, about 15-20 minutes.

Don’t wait until the whole mask is dry and then take it off, otherwise the water will evaporate and it will not be moisturizing at all. After that, remember to quickly put on the lotion or cream to lock the moisture, and the moisturizing is done.

  Myth 6: Superstition: When contacting any kind of moisturizing ingredient, you must consider two things: first, whether it is suitable for the skin type; second, how to use it, and what other ingredients need to be matched to really achieve moisturizing.

  When choosing a moisturizing product, it is best to take some time to look at its logo, and try to ensure that it is rich in multiple types of active ingredients. For example, a bottle of “hydrating” and “hydrating” effective moisturizers will compare.it is good.
  Misunderstanding 7: Oily, “acne” people who do not need to moisturize “acne” or shiny face, often suffer from “oil” such as hatred, refusing oily care products thousands of miles away.

  In fact, there is no absolute relationship between the amount of oil produced by the skin and the amount of overlap of the stratum corneum.

People with oily skin do not necessarily lack water. Therefore, it is necessary to adjust the moisturizing products used in accordance with the skin condition.

  The “acne family” is not completely unable to touch the lotion. When the skin becomes dry or peeling, the lotion can be used to enhance the moisturization according to the situation.

  Myth 8: Neglecting the sun and the sun in winter, but this does not mean that there is no threat of UV.

Moreover, neglecting sun protection causes the skin’s own water retention capacity to deteriorate.

  Be sure to put on some sunscreen before going out.

First of all, it is enough for office workers to use products with SPF (Sun Protection Index) 15-SPF30.

Do you spit grape skin when eating grapes?

Do you spit grape skin when eating grapes?

The nutritional content of grapes.

hzh{display:none;}  葡萄的含糖量达8%~10%、维生素A、B1、B2、C、蛋白质、矿物质钾、磷、铁等,此外它还含有多种具有生理功能的物质.
  The function of grapes: 1. The sugar in grapes is mainly glucose, which can be quickly absorbed by the human body.

When hypoglycemia occurs in the human body, if grape juice is added in time, symptoms can be relieved quickly; 2. French scientists have found that grapes can better prevent thrombosis than aspirin, and can lower human serum levels and plateletsThe cohesive force has a certain effect on the prevention of cardiovascular and cerebrovascular diseases; 3, the flavonoids contained in grapes are a powerful antioxidant, which can fight aging and remove free radicals in the body; 4, grapes contain an anti-cancer microbial elementResveratrol) can prevent healthy cells from becoming cancerous and prevent spread.

Grape juice can help patients with organ transplant surgery reduce rejection and promote early recovery.

  The best cleaning steps for grapes: Step 1. When washing the grapes, first remove the rotten grapes. Use scissors to cut the grapes at the junction between the grapes and the fruit.

Do not cut the peel, it is easy to contaminate the flesh when washing after peeling, and do not leave a small section of stems. Grapes with small stems are not easy to clean, and it is also easy to stab other grapes.

Tip: Do not remove the fruit from the ear, so the stem will bring out the fruit brush in the grape, leaving a hole in the fruit, and the flesh is easy to rot.

After cutting the ears, you can see that the situation where the grapes meet is intact.

  Step 2: Put the grapes in the basin, add some water, squeeze some toothpaste in your hands, rub your hands, then gently scrub the grapes.

  Step 3. Drain the dirty water and rinse it with water.

  Step 4. Rinse with fresh water until there is no foam. Rinse well and place in a sieve and drain. Then use a flat dish, spread a clean towel, and pour the grapes into it, about one layer of grape thickness at a time.Shake the pan to make the grapes roll evenly.

In this way, the remaining moisture can be absorbed.

  Special reminder: the entire washing process should be fast (within five minutes), so as to avoid the grapes absorbing water and bursting and easy to rot.

  The above measures try to ensure that the grapes do not come into contact with too much water before eating, otherwise, the grapes will easily crack and rot, and will lose most of the nutrients and effective ingredients.

  In addition, the grapes should be washed when they are eaten, because they will break easily if they are not eaten after washing.

After washing, even if kept in the refrigerator, it can only be kept for two or three days.

  Should I eat grapes?

  Grape skin contains anthocyanins. In addition to anthocyanins, grape skin also contains another antioxidant: resveratrol.

Both types of substances are good for the human body.

  So, when we eat grapes, do we even swallow the seeds (the content of proanthocyanidins in grape seeds) is swallowed together to get the protection of these powerful antioxidants?

  First, current food safety issues are becoming less and less satisfactory.

The author has planted a grape before, knowing that grapes use a large amount of pesticides and it is easy, and it is impossible to produce grapes without spraying.

Commercially available grapes start from flowering, generally 7?
The fungicide should be sprayed once every 10 days. In the later stage, in order to prevent grape anthracnose from harming the grape fruit, it is necessary to spray the fruit regularly.

  These pesticides cannot be completely removed during the washing process.

At present, there are many detergents on the market that claim to be able to remove pesticides from fruit surfaces, and the actual effect is not as good as the publicity.

  First, the antioxidants such as proanthocyanidins and resveratrol in grapes are not very soluble in water (resveratrol is more difficult to dissolve in water).

Anyone who has studied nutrition knows that nutrients must be dissolved in water or trace amounts to be absorbed by the body.

Low solubility means that most of these nutrients will pass through the intestines and fail to achieve the desired effect.

  Therefore, for your own health and safety, it is better to let go of the rich cellulose and antioxidants that are not easily absorbed in the grape skin.

Six ways to make your baby no longer partial to eclipse

Six ways to make your baby no longer partial to eclipse

Every baby has a different temper, and their eating habits and tastes are different.

But if the baby has a serious partial eclipse and even affects the baby’s health, the mother must be extremely careful.

  Be patient enough to wait for “After eating these green bamboo shoots, my mother will give you a drink.

“This kind of promise can only make the baby like the drink and dislike the green bamboo shoots, and let him gradually learn to bargain:” Mom, you take the drink first and I eat this.

“In fact, there is no need to use other foods that your baby likes as bait. As long as you keep putting green bamboo shoots on the table with other foods, you do n’t have to be particularly embarrassed or” threatening “.Okay.
  Don’t give your baby too many choices. Moms know that in many cases, you can’t give your baby too much choice and eat.

If you ask your baby, “Baby, what do you want to eat today?

The baby’s answer must be the food he is familiar with.

But if you ask your baby another way: “Want to eat pumpkin porridge or polenta tonight?

“Let your baby only choose between these two foods, and he has less room.

  Correctly estimate the baby’s food intake Although the baby has a large amount of activity, he has a small appetite and cannot have too high expectations for their food intake.

In fact, sometimes a baby eats a quiche, and he can already provide him with enough cereal and protein.

  The happy babies that let your babies try their hands are mother’s little helpers. When you are busy preparing meals in the kitchen, you can let your babies “labor” properly.

For example, you can open the refrigerator to get your own yogurt, help your mother get vegetables, and stir cold dishes.

If parents can look after their baby while cooking and teach them how to avoid danger, the kitchen is a happy place for the baby.

Here, not only enriched the baby’s game, but also cultivated his interest in labor, and he could enjoy the fruits of his labor while eating.

  Every baby loves to play games with the game guide, and mothers can use this feature of the baby to enjoy “eating”.

For example, guide your baby to eat greens through a nursery rhyme before eating.

“Little white rabbit, white and white, loves radish and greens” and so on, subtly changes the baby’s bad diet structure.

  My mother is a “chef”. My mother needs to practice her “internal skills”. If you have tomatoes, eggplants, cucumbers, beans, etc. every day, the practice is very monotonous. Fried, steamed, stewed, and even adults will get tired, let alone.baby.

Yuzu anti-cold

Yuzu anti-cold

Grapefruit has a high nutritional value and is rich in sugars, organic acids, provitamin A, vitamins B1, B2, C, P and calcium, phosphorus, magnesium, sodium and other nutrients.

Per 100 grams of pomelo meat contains 57 mg of vitamin C, 10 times higher than pears, and 519 mg of calcium.

Chinese medicine believes that grapefruit has sweetness, sourness, coldness, stomach-building, food-elimination, phlegm reduction, and light-colored pleasure.

Modern medical research has found that pomelo meat is very rich in vitamin C and insulin-like ingredients, so it has effects such as lowering blood sugar, lowering blood lipids, losing weight, and skin beauty.

Consumption often, it has adjuvant treatment effect on hypertension, diabetes, vascular sclerosis and other diseases, and it has health and beauty function for obese people.

  Nutritional benefits of grapefruit 1.

Grapefruit contains potassium, a natural trace element essential for patients with hypertension, and contains almost no sodium, so it is the best dietetic fruit for patients with cardiovascular and cerebrovascular disease and kidney disease; 2.

Pomelo contains a large amount of vitamin C, which can reduce cholesterol in the blood; pomelo contains physiologically active substances such as skin compounds, orange peel derivatives, etc. The grapefruit peel can degrade the viscosity of blood circulation and reduce the formation of thrombus.

If the middle-aged and elderly suffer from cerebrovascular disease, eating grapefruit often helps prevent stroke.

Grapefruit contains a large amount of vitamin C and calcium, which helps prevent the occurrence of bowel and stomach cancer.

  3.

Grapefruit pectin can almost reduce low-density lipoprotein levels, and can reduce the degree of damage to the arterial wall; fruit health4.

4. The natural vitamin P contained in grapefruit can strengthen the function of skin pores and accelerate the recovery of injured skin tissue function;

Grapefruit also enhances physical fitness. It helps the body absorb calcium and iron more easily. The natural folic acid contained in grapefruit has the effects of preventing anemia and promoting metabolic development for women taking contraceptives or pregnant women. 6.

Fresh grapefruit contains perovskite, which lowers blood sugar.

  Yuzu also has the effects of strengthening the stomach, moisturizing the lungs, nourishing blood, clearing the intestines, and facilitating the stool, can promote wound healing, and has a good auxiliary effect on sepsis.

In addition, grapefruit contains a physiologically active substance, a skin compound, which can reduce the viscosity of blood and reduce the formation of blood clots. Therefore, it has a better preventive effect on cerebrovascular diseases such as cerebral thrombosis and stroke.

Fresh pomelo meat is an ideal food for diabetics because it contains insulin-like ingredients.

  Grapefruit is produced in the southern regions of Fujian, Guangdong and other developing countries, with Guangdong Shatian pomelo as the top grade.

  The health-care functions of grapefruit are antibacterial and antiviral: grapefruit peel substitution and orange peel substitution are similar to other flavonoids in grapefruit, and have anti-inflammatory effects.

  Lower blood sugar: Fresh grapefruit juice contains insulin-like residue, which can lower blood sugar, and is a good food for diabetic and obese patients.

  Dissolve and enhance the role of vitamin C: naringin phospholipids contained in grapefruit have a significant decomposition effect.

Fruit health expectorant phlegm and antitussive: the outer peel of grapefruit is the commonly used traditional Chinese medicine orange red.

Contains limonene and pacene. After absorption, the secretions in the respiratory tract will become more and more dilute, which is good for sputum excretion and has a good expectorant and antitussive effect.

  Grapefruit can decompose formaldehyde to prevent a cold from coming. The air is very dry and the temperature difference changes greatly. People will catch a cold as soon as they aren’t paying attention. When they catch a cold, they will feel boring. Headache, dizziness, sore throat, sore body, do n’t be afraid. Here ‘s an introduction for youOne good fruit that can prevent colds is grapefruit.

Grapefruit is known as “Natural Canned Fruit”, and it is a thick-skinned and resistant fruit.

Grapefruit is very rich in protein, vitamin C, organic acids, and essential elements such as calcium, phosphorus, magnesium, and sodium, which can prevent colds and promote digestion.

In addition, grapefruit also plays a role in preventing cardiovascular and cerebrovascular diseases.

Chinese medicine believes that grapefruit has the effects of regulating qi and phlegm, nourishing the lungs, clearing the intestines, nourishing the blood and invigorating the spleen, and is a good fruit to nourish the lungs in winter and relieve cough after a cold.

For example, honey citron tea, which is very popular now, has a good effect of nourishing the lungs and phlegm, and can be used for beauty and beauty.

  Small remedies for treating colds: Big Yali with boiled water and boiled water can treat cough; apples and vinegar boil water together, and have a certain effect on colds.

Fruit health.

During the cold, we can also choose from fruits: strawberries, papaya, mango, grapes and so on.

Vitamins C and A usually have a better effect on treating colds.