Hexing Packaging (002228): Revenue slightly under pressure, profitability has picked up, light asset expansion strategy is fully upgraded

Hexing Packaging (002228): Revenue slightly under pressure, profitability has picked up, light asset expansion strategy is fully upgraded

This report reads: The company released its semi-annual report for 2019, and its performance was slightly lower than expected.

The decline in paper prices has resulted in a sluggish product quality, the company’s revenue has been slightly under pressure, the cost pressure has eased, and the profit level has increased from the previous quarter.

Investment Highlights: Reduce target 杭州桑拿 price to 4.

4 5 yuan, maintaining a prudent overweight rating.

The 2019 semi-annual report was released. The decline in base paper prices affected product segmentation, and the company’s revenue was slightly lower than expected.

Taking into account the tightening macroeconomic environment at home and abroad, the downstream demand for packaging paper and the low price of corrugated cardboard, reduce the company’s 2019?
Impact of EPS to 0 in 2021.

25 (-0.

03) / 0.

30 (-0.

04) / 0.

34 (-0.

05) Yuan, with reference to peers giving the company 18 times PE in 2019 and lowering the target price to 4.

45 yuan, maintaining a prudent overweight rating.

The interim report performance was slightly lower than expected, and the profit level improved slightly.

The decline in the price of base paper in the first half of the 杭州桑拿 year significantly affected product sales prices, and the company’s revenue in 2019H1 was 54.

8.5 billion, down 6.

15%, realizing net profit attributable to mother 1.

3.4 billion, an increase of 10.


Benefiting from the decline in raw material prices, the company’s profitability improved and its overall gross profit margin was 12.

66%, an increase of 0 a year.

98pct, net interest rate 2.

65%, an increase of 0 from 2018.

3pct, of which Q2 single quarter gross margin is 13.

06%, an increase of 0 from the previous month.

76 points.

The economic environment at home and abroad is tightening, and packaging manufacturing revenues are under pressure.

The continuous downward adjustment of the upstream base paper price directly affects the development pattern of the industry. The downstream retail consumption boom is affected by macroeconomic changes and affects the overall demand of the packaging industry.

The company’s packaging manufacturing business revenue also fell by 10.

31%, gross margin increased by 0 in the short term.

73% to 15.

46%; in terms of products, the company’s carton, cardboard and buffer packaging materials business revenue fell by 7 respectively.

86% / 11.

36% / 20.

57%, gross profit margin increased by 1.

37% /-2.

01% / 3.
Driven endogenously and synchronously to achieve the strategic upgrade of asset-light expansion.

After the acquisition of Hezhong Chuangya in 2018, it enriched the company’s customer structure. In January 2019, “United Packaging Network” 2.

Version 0 was officially launched to promote the deep development of the PSCP project.

The existing platform has about 1,600 customers, an increase of about 300 compared with the end of 2018, and achieved sales revenue of nearly 1.5 billion US dollars. The light asset expansion of the packaging industry chain is smooth.

Risk reminders: macroeconomic risks, market competition risks, raw material price fluctuation risks

American credit card debt innovation hits record high of more than $ 1 trillion tomorrow’s money

American credit card debt innovation hits record high of more than $ 1 trillion “tomorrow’s money”
The way Americans spend tomorrow’s money today has made them the world’s most famous 四川耍耍网 credit card slaves. Recently, their card debt has reached a new high.CBS data quoted by the Federal Reserve Board reported that the total debt of US credit card holders has exceeded $ 1 trillion (about 6).7 trillion yuan), exceeding the record set before the 2008 financial crisis.  According to Matt Schultz, a senior analyst for credit cards on credit card information websites, this situation should serve as a wake-up call for Americans. Even if you think you can still afford credit card debt, you may be one step away from real trouble.  According to the website data, each family currently pays an average of 9,600 US dollars (about 63,965 yuan), accounting for 17% of the average family income.Since the average interest rate on credit cards is 16%, and some credit cards have an interest rate of about 24%, the credit card debt of each family increases by 1,600 US dollars (about 10658 yuan) to 2,300 US dollars (about 15,320 yuan) each year.  Despite the huge debts, most Americans believe that the current economic situation is stable and the unemployment rate remains at a certain level, so they are optimistic 厦门夜网 about the future.However, Schultz warns that people will never know when the limit will be reached, and the situation may not yet reach a critical point, but it will not be too far a day.Unemployment, emergency medical treatment, and rising interest rates are all factors that could cause the crash.  Schultz advised people to reduce debt when the economy is good and try to pay off their debts on a monthly basis. At the same time, beware of hidden credit card charges such as late fees, withdrawal fees, overseas transaction fees, annual fees, etc.(Gao Linlin) Original title: US credit card debt hits record high, spending more than $ 1 trillion “tomorrow’s money”

Ziyin Bushen Classic Liuwei Dihuang Wan

Ziyin Bushen Classic Liuwei Dihuang Wan

In the view of our Chinese medicine practitioners, for a pharmaceutical company, inheriting the essence of traditional Chinese medicine, inheriting the essence of the ancestors, and making a truly effective ancient recipe for the finished Chinese medicine, for the common people, for the society, this contribution is better than developing a destiny.How many new drugs are much bigger.

  Liuwei Dihuang Pill is one of the classic representative prescriptions. It consists of Rehmannia glutinosa, Hawthorn, Chinese yam, Alisma, Mudanpi, and Poria. It is named after the rehmannia glutinosa, and Liuwei Dihuang Pill is placed in the famous prescription of Zhang Zhongjing.”Gold is missing kidney and gas” and the group, Zhang Zhongjing has created a system of TCM syndrome differentiation and treatment, which provides an inexhaustible source of thought for the development of Chinese medicine in later generations. In Chinese medicine, there is a saying that “the medical door is the Zhongjing and the Confucianism of the Confucianism”.
  Liuwei Dihuang Pill is a classic prescription for nourishing yin and tonifying kidney used by traditional Chinese medicine. It is used for five upset fever caused by kidney yin disease, dizziness, tinnitus, weak waist and knees, hot flash of bones, night sweats, nocturnal emission, thirst, etc.Various symptoms of yin deficiency.

  Liuwei Dihuang Pills are exquisite, and the prescription is rigorous and scientific: among them, Rehmannia glutinosa is used to replenish kidney yin, fill the marrow and replenish the marrow, and the liver and kidney are complemented by yam, yam and spleen and kidney, and achieve the purpose of supplementing the celestial spleen.Yellow, with diarrhea and kidney turbidity, peony bark with hawthorn to diarrhea liver fire, 茯苓 茯苓 yam to benefit spleen dampness, six-flavored medicinal herbs three supplements and three diarrhea, supplement in the vent, the drug is peaceful, suitable for long-term use.

  With the continuous deep clinical research of Liuwei Dihuang Pills in the past, its efficacy has been continuously expanded.

Like the common diabetes in the elderly, hypertension, menopausal syndrome, osteoporosis, cardiovascular and cerebrovascular diseases, senile pruritus, etc., as long as accompanied by dizziness, five upset heat, hot flashes, night sweats, kidney yinSymptoms, it has obvious therapeutic effects.

Moreover, the modern Chinese medicine clinic also found that long-term use of Liuwei Dihuang Pill also has the ability to improve disease resistance, prevent senile dementia, and delay aging.

It is also the unique effect of Liu Wei Di Huang Wan to get its powerful vitality!

Tell you 5 minutes to enhance the effectiveness of the mask


Tell you 5 minutes to enhance the effectiveness of the mask

Teach you to maximize the function of the mask, it only takes five minutes, learn it!

  Tips1 After applying the mask, do MMs have the habit of applying the mask after taking a hot bath? It turns out that this is the best time to apply the mask, because the pores on the skin are fully opened, and the skin is full of moisture.

In the same way, MMs can wash their faces with hot water before applying the mask, the effect is very good.

  Tips2 It is best to use the essence before applying the essence to the mask, because it creates the essence that penetrates the leading mask and enhances its effect.

For example, you can apply whitening mask on the whitening essence first, or you can take a moisturizing essence and then apply a moisturizing mask.

  Tips3 The MM in a hurry to apply the peripheral mask may put the mask in front of the mask when the mask is applied, even if it is done, but the effect is very poor.

When applying the mask, you should apply the mask around the middle bridge of the person, smooth out the mask paper from the inside out, and push out the air in it. Part of the mask must be applied, otherwise it is easy to rise because the mask paper is dry.

  Tips4 cover with a towel and heat. If the MMs put the mask in the refrigerator to cool down or heat it with hot water, it may damage the nutrition of the mask.

The best way is to first prepare a dry towel, put it on the back of the film, it can increase the tightness and enhance the absorption effect.

  Tips5 Massage with the mask under the mask. In fact, every time the mask is applied and removed, there is still a lot of essence left on the face that is not absorbed.

At this time we can gently massage the face, massage for 3 to 5 minutes to help it absorb, the effect can be doubled.

  Tips6 after applying the lotion lock and water mask, you can finish it.

Finally, we need to apply a lotion. The lotion will form a protective layer of oil content, which helps us lock in moisture and nutrients just absorbed by the skin.

  Tips7 After applying the face to the neck, the mask will retain a certain amount of nutrient solution. MMs can exert their best use to apply it on the neck.

This can avoid the problem of increasing skin difference between the face and neck.

  Tips8 Mask Bag Essence MM will notice that there are still some essences in the mask bag, why not use it well.

We can use it on our hands and feet to absorb the essence together!

Test: Do you know enough about the opposite sex?

Test: Do you know enough about the opposite sex?

Want to know how much you know about the differences between men and women in love, please do the test below.


Women are more romantic than men.

  Yes or No 2.

Women are more likely to fall in love than men.

  Yes or No 3.

Men usually feel more in love than women.

  Yes or No 4.

Broken relationships hurt women more than men.

  Yes or No 5.

Women in love are more likely to express deep feelings than men.

  Yes or No 6.

In sex, men are usually more active than women.

  Yes or No 7.

Women are awake from love more slowly than men.

  Yes or No 8.

Women who want to escape will win the interest of the men around them.

  Yes or No The drama answers “No” to 1 point for each question, and then calculates the total score.

  Exciting at 4 or above: You are a master and you know the opposite sex well.

  Wonderful at 2?
3 points: You have a general understanding of love and the sexual response under the influence of love.

  Wonderful at 0?
1 point: I don’t know about the opposite sex.



Studies of romantic behavior in courtship have found that men are generally more romantic than women.

They are more likely to agree with such views: “Love is very magnificent” or “True love can last forever.


Is Cink at Branders University?

Professor Rubin designed many questionnaires about love, which provided the basis for subsequent research.

Rubin found that, in proportion to women, men fell in love and recovered, waking up slowly from love.


Women are more likely to feel the pain and ecstasy of love than men.

Women are more likely to feel nervous and dizzy, as if standing on a cloud.

This evidence is confirmed by physiological measurements of the female sympathetic nervous system.

Rubin and other researchers have found that the pain that men endure after a broken relationship may be because men are less likely to talk to someone about their feelings than women.

The degree to which men and women are willing to express their feelings in intimate relationships is not much different.

However, the way of speaking is different.

Men are more willing to show their strengths than weaknesses.

Women, on the other hand, are skeptical about their strengths, especially if they feel they threaten the men they want.

Women are more likely to reveal their weakness, interests and feelings about others.


Either way, whether subtle or obvious, the evidence shows that men and women have the same initiative in sex and that they are as likely to take the initiative as men.


As explained in question 2, men are awake from love more slowly than women.


It is generally believed that women who seek to seduce themselves pose more challenges to men and therefore seem to be easier to overcome.

But researchers have found that in the early stages of sexual relations, this may sometimes be the case, but not in the long run.

It is most suitable to adjust the air conditioner to 26 ℃ in summer

It is most suitable to adjust the air conditioner to 26 ℃ in summer

On a hot summer day, many people turn on the air conditioner when they get home. Once I went to a friend’s house, and they adjusted the temperature to a very low temperature. I was sweating outside. Once I entered their house, I felt like I had entered the followingIt was cool in the ice cellar, but it was cool, but I got a cold after coming out of their house.

Then you see that I have an air conditioner remote control, and the cooling can be as low as 16 ° C. How much should we adjust the air conditioner temperature to?

Tell you, it is best to set the air conditioner at 26 ℃. Why?

  The first is the benefit to human health.

The comfort of the human body depends on temperature and humidity in addition to other factors such as color, lighting, and a sense of blowing.

According to scientific statistics, the general temperature is 24?
The human body feels most comfortable between 28 ° C.

Some people like to lower the room temperature too low. Although this will make the human body feel no heat at all, I will tell you that the sensitivity of your body’s thermal response is relatively reduced at this time.You ca n’t tell whether you should wear one piece of clothing or two pieces of clothing. Maybe you ‘re still wearing short shorts. At this time, many colds and fever will find you. “Air-conditioning disease” is often caused by this.It is especially bad for the elderly and children.

  In fact, setting the air conditioner at 26 ° C also has economic benefits.

Taking Beijing as an example, if the current set temperature of the air-conditioned room (24-26 degrees) is increased to 26-28 degrees: it is called for individuals and household air-conditioning users, one for one.

If the temperature of a 5-hp split air conditioner is increased by 1 ° C, running for 5 hours a day will save 0.

3 kWh, calculated by 4 months in summer, can save 36 deg. Electrons, or about 15 yuan.

Beijing’s summer air-conditioning period can save air-conditioning power consumption of more than 4 billion to 6 billion kilowatt-hours; while saving electricity, it can selectively sulphur dioxide of about 2400 tons to 3500 tons and carbon dioxide of about 400,000 to 60 feet.

Therefore, appropriately increasing the indoor temperature is good for families, individuals, and the country.

Therefore, appropriately increasing the indoor temperature is good for families, individuals, and the country.