Next day,Ask Ye Xingkong to visit the sick Chen Limu。

Haven’t waited for Ye Xingkong to answer,Tian Lujiu“overbearing”Holding Ye Xingkong’s arm,Out the door,Stopped“Taxi”,Go straight to the hospital。
“Taxi”on,Tian Lu looks like a“Talk”Mother-in-law,He kept teaching Ye Xingkong how to treat Chen Limu with etiquette after meeting。
Yihai Hospital,in305Room ward door。
The door is slightly hidden,Tian Lu knocked gently on the door,No one answered,After confirming that it is Chen Limu ward,Tian Lu took Ye Xingkong in。
Tian Lu nodded to Chen Limu who was half-sleeping on the bed,Put a mention of fruit on the ward table。
This is a single suite,Very warm decoration。
Tian Lu whispered hello:“Hi Aunt Mu,George said you are sick,Came to visit you specially!”
Chen Limu’s face is not as bad as imagined,It seems,The condition should be almost healed。
A middle-aged man stood beside Chen Limu bed,Over sixty,Body slightly fat,Tough waist,Physical fitness is as good as forty。
Chen Limu looked at the man,Looked at Tian Lu and Ye Xingkong again。
The man glanced at Ye Xingkong inadvertently,I thought my eyes were too bad,Turning his eyes to look at Ye Xingkong。Blurted out:“Colan!”There was a surprise in his eyes。
Chen Limu no longer leans against the back of the bed,Sit back and sit down,Tian Lu hurriedly stepped up and down。
Chen Limu said unhurriedly:“Do not,Even you think he is Ke Lan, right,Zhentian,Let me introduce to you。This Tian Lu,Reporter Tian of New Media,That young man is called Ye Xingkong,Is Tian Lu’s friend。”

“The way you strike up is really……”

Xiang Yang sighed and shook his head,But still standing between Zheng Ziling and Ling Yun。
It is undeniable that what Zheng Ziling said to him was a provocation for some purpose.,But this is not unreasonable,But Zheng Ziling didn’t know,The friendship we met in Wei Mo,Sometimes it is very reliable。
Zheng Ziling simply dropped two words,Turned away。
The owner of the private kitchen is standing at the door,Someone had notified him before,All compensation will be doubled,So at this time his face is not too ugly。
The protagonists in conflict all want to calm down,But there are still people in the crowd who are not afraid of big things。
“boss,The tables and chairs here have been smashed anyway,Why don’t I pay you some money later,Let me do something more with your venue。”
After Zheng Ziling’s follower,Huang Zetao also handed a credit card to the owner of the private chef,The evil smile on his face is unabated,His appearance undoubtedly makes Zheng Ziling and Ling Yun very uncomfortable。
“I said,Forget this!This is the third time I repeat!”
Zheng Ziling stared at Huang Zetao,Suddenly I feel that the genius is on the left and the lunatic is on the right makes sense,I can’t guess Huang Zetao’s path。
Blocked half of Huang Zetao’s body,Zheng Ziling stood motionless。The grudge between Huang Zetao and Xiangyang,Zheng Ziling also heard a little during military training,Now Huang Zetao intervenes,It’s hard to say that he didn’t run towards Xiangyang,After all, the turbulent military training incident,Even after returning to Wanghai University, there is still residual heat。
“Ling Shao,This is not for you,It’s purely a personal grievance between me and Ling Yun,It’s just that Ling Yun’s luck is good,Met you first。”
Huang Zetao smiled and explained to Zheng Ziling。
Zheng Ziling is more certain this time,Huang Zetao is a genius with a madman personality。
I believe Huang Zetao has seen his intentions towards Xiangyang,Point the finger directly at Lingyun,I don’t have any excuses to intervene,But judging from the friendship between Xiangyang and Lingyun,It’s hard to guarantee that Xiangyang won’t get involved。
Finding a famous excuse is always the most troublesome thing,At the same time Zheng Ziling couldn’t help being curious,What kind of friendship is it,A girl from Xiangyang can participate in a boy’s fight recklessly。
Huang Zetao took a step back,After bypassing Zheng Ziling,Go straight to Lingyun。

Chinese fans are encouraged to record videos, and Barcelona express thanks in Chinese

Chinese fans are encouraged to record videos, and Barcelona express thanks in Chinese
In order to send support and blessings to the Barcelona club in the epidemic, Barcelona fans from all over China spontaneously recorded videos.Today, Barcelona ‘s official social media released this special blessing video and thanked the fans for their support in Chinese.In the video, Barcelona fans from Shanghai, Henan, Beijing, Sichuan, Chengdu, Shaanxi, Tianjin, Wuhan, Hubei, Hong Kong, China and other countries expressed their encouragement and support for the Red and Blue Corps.”I hope that Barcelona players, fans and staff can all be healthy”, “Global fans can overcome the difficulties together”, “As long as we work together to fight the epidemic, spring will come”, “Unite together, we will be stronger, Barcelona come on!”. The official Barcelona government uses Chinese and English on social media to express their gratitude to Chinese fans:” Thank you very much for your support and encouragement from Chinese fans. We will win this war. Thank you for your support! “”The Air Force, Messi, Griezmann and other stars collectively issued a message saying that they accepted the Barcelona temporary salary reduction of 70%, and the armor helped the club to survive the difficulties.Sauna, Ye Wang Deng Hanyu editor Wang Chunqiu proofreading Wei Zhuo

CICC back to A start-up to issue no more than 4.5.9 billion shares

CICC back to A start: planned to issue no more than 4.5.9 billion shares
On May 15th, the China Securities Regulatory Commission announced the China International Capital Corporation (“CICC”) initial public offering of stock prospectus, CICC plans to issue no more than 4.5.9 billion shares (not more than 9 of the total share capital after this issuance and listing50%) A shares.CICC said that after deducting the issuance expenses, the funds raised from this A-share IPO will be used to increase the company’s capital, supplement the company’s working capital, and support the company’s internal and external business development.At the same time, the company will use the raised funds to further strengthen its investment in financial technology, internationalization and other strategic areas, and grasp strategic merger and acquisition opportunities in due course.According to the data, the issuer was formerly known as CICC Limited. It was established in July 1995 by the original People’s Construction Bank of China (later renamed “China Construction Bank”), Morgan Stanley, China Insurance, New Deal Investment and Mingli Group.As of December 31, 2019, the company’s top ten shareholders were Central Huijin, HKSCC Nominees Limited (Hong Kong Central Clearing (Agent) Co., Ltd.), Haier Financial Holdings, Tencent Mobile, Defu Investment Co., Ltd., China Insurance, andGroup, Invesco Advisor Inc, China Construction Investment, Construction Investment, Investment Consulting.On the signing date of the final prospectus, CICC’s shareholding structure and control relationship.(From the prospectus of CICC) According to the prospectus of CICC, the total assets of CICC in 2019 reached 3449.7 trillion yuan, an increase of 25 compared with the end of 2018.3%; net assets reached 482.9 trillion yuan, an increase of 14 from the end of 2018.5%; total income and other income 227.8 trillion yuan, an annual increase of 22.9%; achieved a net profit of 42.400 million yuan, an annual increase of 21.4%; estimated average return on equity of 9.6%.  From the perspective of income structure, the data released by CICC shows that CICC’s net income in 2019 (note: reference to index expenditure) 168.8.7 billion yuan, an increase of 24% over the previous year.Among them, wealth management income accounted for the highest proportion, 23%, investment banking business accounted for the second, accounting for 22%, stock business income accounted for 21%, fixed income income accounted for 16%, investment management income accounted for 12%, other incomeIt accounts for 7%.  From the perspective of domestic and foreign net income, the proportion of overseas net income increased in 2019, achieving overseas net income41.2.4 billion yuan, accounting for 24%, a year-on-year increase of 42%; the net income in the mainland is still the main source of income for CICC, and the net income in the mainland will be 127 in 2019.6.3 billion yuan, an annual increase of 19%.Whether it is at the performance briefing of the Democratic CICC or the latest IPO prospectus, it shows CICC’s urgent desire for scale development.CICC frankly accepted the competitive pressure of domestic securities companies in its prospectus.Compared with other large domestic comprehensive securities companies, even the company has established certain advantages in terms of brand, customers and comprehensive financial service capabilities, but it still has certain disadvantages in terms of capital scale and geographical coverage.In the future, the company will continue to face competitive pressures from other large domestic comprehensive securities companies and some specialized securities companies.At the same time, the entry of foreign brokers into China has also put pressure on the development of CICC.The competitive advantages of foreign financial institutions in international networks, capital strength, etc. are expected to enter the Chinese market and will compete fiercely with domestic securities companies in high-end business areas such as cross-border business, institutional transactions and derivatives, wealth management and investment management.CICC said that if the company fails to replenish its capital strength in a timely manner, maintain and further consolidate its capabilities and advantages in related business areas, it will bring the risk of losing customers and declining market share.Sauna, Ye Wang Zhang Siyuan Editor Chen Li proofreading Yang Xuli

Midea Group (000333) 2019 Third Quarterly Report Review: Beautiful and slightly better than expected industry leader steady growth

Midea Group (000333) 2019 Third Quarterly Report Review: Beautiful and slightly better than expected industry leader steady growth
Matters: The company released the 2019 third quarter report, and the company achieved operating income of 2209 in 19Q1-Q3.180,000 yuan, an increase of 7 in ten years.37%, net profit attributable to mother 213.16 ppm, an increase of 19 in ten years.08%.In the single quarter, Q3 company achieved operating income of 671.48 ppm, an increase of ten years6.36%, net profit attributable to mother 61.29 ppm, an increase of 23 in ten years.48%, profit growth performance slightly exceeded expectations. Comment: Revenue has maintained steady growth, and channel efficiency has been significantly optimized.In Q1-Q3 2019, the company achieved revenue of 2209.180,000 yuan, an increase of 7 in ten years.37%, with revenue of 671 in the third quarter.48 ppm, an increase of ten years6.36%.Against the background of the overall downturn in the industry, the company’s revenue has maintained steady growth, and its business diversification effect has been significant. It has maintained industry leadership in the fields of air conditioning, refrigerators, washing machines and small appliances.In terms of sub-sectors, under the background of the overall pressure of the air-conditioning industry, Q3’s HVAC segment slowed down slightly compared to the first half; the washing machine segment benefited from Little Swan suction and then the synergy advantage became more obvious. The washing machine segment Q3 achieved accelerated growth; Small appliances sector, on the basis of the lowest base in the same period 天津夜网 last year, Q3 showed a recovery growth.In terms of channels, the company actively promotes the preliminary reform of channels, replacing levels to improve efficiency.The online channel company reached a strategic agreement with third-party e-commerce platforms such as Tmall Jingdong, and opened an online approval mode to directly connect with retail terminals. The offline channel channel channel level actively expanded and built new retail channels, while creating online and offline data.Convergence, the overall channel efficiency is significantly improved. Profit growth was dazzling and profitability was significantly improved.2019Q1-Q3 company realized profit maximization 261.08 thousand yuan, ten years +14.96%, net profit attributable to mother 213.1.6 billion, +19 a year.08%.In a single quarter, Q3 achieved net profit 杭州桑拿 attributable to mother 61.29 ppm, +23 a year.The profit growth rate was 48%, which was slightly higher than expected, mainly due to the report that Little Swan continued to merge and contributed to the profit after consolidation.In 19Q3, the company achieved gross profit margins and net profit margins of 28 respectively.20%, 9.38%, each year +0.72pct, +0.At 97 points, the profitability has improved significantly. We believe that it is mainly due to the decline in raw material costs, product structure upgrades, exchange rate depreciation, and increased production efficiency brought about by the “T + 3” efficient operating model.In terms of expenses, the sales expense ratio, management expense ratio, and R & D expense ratio of the company in 19Q3 were 12 respectively.08%, 3.14%, 3.65%, respectively +0.29 points, -0.46pct, -0.20pct, thanks to the improvement of the company’s internal operation and management efficiency, the management expense rate has dropped significantly. The strategic direction is clear and long-term development is worth looking forward to.The company, as the leader of the entire category and the entire industry chain in the home appliance industry, has steadily advanced its integration, intelligence and digital strategy.The company’s current category diversification and synergistic advantages are obvious, the operating efficiency is continuously improved, and the performance is more certain.In terms of global layout, the company cooperates with brands such as KUKA and Toshiba for integrated operations and is gradually moving towards a transformation technology group.In terms of channels, under the background of continuous pressure on industry demand, the company actively promotes channel transformation, replacing channel levels, and improving internal operation efficiency.In addition, the company piloted the online approval model this year, that is, directly connected to retail terminals through Meiyun Pin or Midea’s official mall, and directly connected to companies through online channels, and replaced them at the distribution level.The gradual change of channels in the future is gradually completed, and the company’s overall channel efficiency is expected to usher in further improvement. Investment suggestion: We slightly raise the company’s 19/20/21 net profit forecast to 240.18/271.47/308.64 trillion (Original predictor: 227.29/256.91/292.3.4 billion), corresponding to PE is 15/14/12 times.As a leader in the home appliance industry, the company’s multi-segment market share is at the forefront of the industry, and its product structure is continuously optimized, its brand matrix is improved, its operating efficiency is continuously improved, its incentive mechanism is improved, its competitive advantage is obvious, and its long-term development is worth looking forward to.Maintain target price of 62 yuan, corresponding to 16 times PE in 20 years, maintain “strong push” level. Risk warning: terminal demand is less than expected; raw material prices fluctuate sharply; overseas market expansion risks.

Debang (603056): 2019 performance forecast is not up to expectations but fourth quarter cost control has achieved initial results

Debang (603056): 2019 performance forecast is not up to expectations but fourth quarter cost control has achieved initial results

Predicted profit decline by 45-65% YoY Debon has released its 2019 annual performance forecast. The company expects profit decline in 2019 to fall by 45% -65% to 2.


800 million, the performance forecast center is 3.

1 ppm, lower than our democratic expectations (CICC expects 2019E 4).

600 million US dollars, deducting non-net profit at least 78% -98% to less than 100 million per year.

The company expects a profit of 1 in 4Q19E.


700 million, an annual increase of -46% -12%.

Attention points We expect the 4Q19 cost control to show initial results, and the gross profit margin will stabilize and rebound: Debang’s excessive price cuts and revenue expansion affected the performance of 成都桑拿网 the profit side in the 1-3Q19. In the fourth quarter, Debon raised the freight rate and selected quality customers forServices, we expect revenue growth to reach less than 10%. In addition, due to the existence of high operating leverage, single-quarter profit is expected to perform better in the fourth quarter.

In the first quarter of the 20th year of the spring, construction time was short and continued pressure on costs: due to the impact of “Wuhan pneumonia”, we expect that Debon’s spring construction time will be shortened, and the first quarter profit may still be a substitute.

However, in the long run, the company began to increase profits after Cui Weixing (the founder) returned to specific business decisions. It is expected that in 2020, it will achieve more than 30% performance growth under a low base (the biggest incremental point is 3Q20).

In terms of business, we expect the express business revenue to grow by 30% in 2019 and the express business revenue to grow by 0-5%.

And express delivery revenue growth rate shows a high front and then a low, fast express growth speed shows a front low and then a high, leading for the company’s strategy in the first half of 2019 priority for express income, while the second half of the priority for profit protection.

From the perspective of gross profit margin, due to poor cost control in the first half of the year, we expect to bring 2ppt to about 12% in 2019.

Estimates and recommendations We lower our 2019/20 profit forecast by 24% / 14% to 3.


62 ppm (corresponding growth rate -50% / 31%), profit forecast for 20215.

50,000 yuan (corresponding to 9% growth rate).

The current sustainable correspondence is 2020 / 2021e 22.


9x P / E, we temporarily maintain the target price of 12 yuan, corresponding to 24.


8x 2020 / 2021e price-earnings ratio, the current price has 9% growth space relative to the target price, and maintain a neutral rating.

Risks Macroeconomic downturn, deteriorating competition, and changes in the home appliance and furniture industry

Bank of China (601988) 2018 Annual Report Comment: Provision Coverage Rate Increased Significantly

Bank of China (601988) 2018 Annual Report Comment: Provision Coverage Rate Increased Significantly

Bank of China disclosed in its 2018 annual report that Bank of China achieved a net profit of RMB 18.01 million in 2018, a year-on-year increase of 4.


The profitability is stable in 2018.

8%, a decline of 0 per year.

Two single ones, mainly the ROA decreased by 0.

03 leaders.

From the analysis of DuPont, the decline in ROA is mainly affected by the decrease in program fees and commission net income / average assets, and the increase in asset impairment losses / average assets. The former is related to the decline in wealth management income under the impact of new asset management regulations.The company increased its provision and accrual.

Net interest / average assets increased slightly, making a positive contribution to ROA.

Overall, the company’s profitability is stable.

Net interest margin rebounded month-on-month, and the Bank of China performed better in deposits. In the third quarter, it adjusted the calculation method of the average daily net interest margin, but the fourth and third quarters were comparable.

In the fourth quarter, the net interest margin for a single quarter was 1.

93%, up 2bps from the third quarter, and performed better.

From the perspective of yield and interest rate, it mainly benefits from the rapid 杭州桑拿 rise in asset-side yield.

From the semi-annual data, the cost of deposits in the second half of the year decreased by 1bp compared with the first half, and personal demand deposits increased by 12% earlier at the end of the year, showing outstanding performance.

The quality of assets remained stable, and the provision coverage ratio increased. From the perspective of NPL indicators, asset quality was stable.

At the end of the year, the non-performing loan rate fell by 1bp from the end of the third quarter, which was basically the same; the attention rate decreased slightly by 3bps from the middle of the year; and the overdue rate at the end of the year was 1.

87%, which fell to the initial level after a rise in the middle of the year, which is even better; the year-end non-performing / overdue loans for more than 90 北京桑拿洗浴保健 days were 123%, which remained stable compared to the middle of the year;

87%, a slight increase of 9bps from the first half.

On the whole, BOC’s asset quality remained stable in the second half of the year, and the upswing of the NPL ratio was similar to the overall trend of the industry.

Finally, the asset impairment loss / excessive increase in average assets in the ROA decomposition is mainly related to the company’s increase in the provision of reserves.

The provision coverage ratio at the end of the year was 182%, a sharp increase of 14 percentage points from the end of the first three quarters.

Investment recommendations BOC’s fundamentals remain stable, the overall performance is in line with expectations, and maintain a “Buy” rating.

Risks suggest that the continued weakening of macroeconomic expectations may adversely affect the quality of bank assets.

Greenland Holdings (600606): Profit growth rate hits record high

Greenland Holdings (600606): Profit growth rate hits record high
Core Views The company released a performance report. In the first half of 2019, it realized revenue of US $ 2016 billion, ten years + 28%; net profit attributable to mothers was US $ 8.8 billion, + 46% for the whole year; the average ROE was 12.16%, ten years +2.93 units.The company’s performance was in line with expectations, and its growth rate hit a new high since its 佛山桑拿网 listing. The value of new products was guaranteed, while the financial leverage continued to decline. The diversified industries increased profits.We maintain EPS for 2019-2021.15.1.38, 1.Earnings forecast of 65 yuan, maintain “Buy” rating. Profit growth hit a new high since listing. Sales growth increased. Company performance increased in the first half of the year. Profit growth hit a new high since listing. Mainly due to continuous improvement in carry-over scale and quality.In 2017 and 2018, the company’s sales growth rate was 20% and 26%, accumulating high-quality carryover resources, accelerated carry-over in the first half of the year, completion of 5.94 million square meters, each time + 47%, we expect the actual business gross margin to continue to improveAnd strive to break through 28%.In the first half of the year, the company stepped up the push for new goods, with a new construction of 26.39 million square meters, a year of + 49%; realized sales area of 14.87 million square meters, a sales value of 167.7 billion U.S. dollars, each year + 10%, 3%, 1319 trillion in repayment.Driven by high-quality projects such as intercity space stations, the third and fourth line highways have grown by more than 50% against the trend, but the reason for the overall stable sales is that some projects in second-tier cities such as Nanjing and Suzhou are affected by the first city and one policy, and the delivery of goods has been delayed to the next level.Half a year. Increased value and quality and quantity, financial leverage continued to decline. In the first half of the year, the company focused on key areas such as first-line spillovers, second-tier provincial capitals, and prefecture-level city high-speed rail stations. There were 58 new projects, with a construction area of 22.02 million square meters (equity construction area of 19.68 million square meters)., The total land price of 556 trillion, + 26% per year, the total value of 2622 trillion, according to the data of Kerer ranked second in the industry.The company’s soil storage structure has been further optimized. The supplementary value of the first and second lines is over 60%, and the newly-built residential buildings are over 70%. At the same time, the cost of land acquisition is maintained, and the floor price is less than 2700 yuan per square meter. The intercity space station accurately acquires land.Increased 8 projects including Qingdao, Suqian, and Suzhou, with a supplementary value of about 33 billion yuan.The company has taken into account the speed of high-level development and reduced leverage, replacing the asset-liability ratio of accounts received in advance, which is lower than the end of 20182.85 up to 81.55%, successfully issued 13.500 million US dollars of debt, actively promote ABS financing and cooperation between banks and enterprises. Multi-industry synergy, upgrading science and technology gene companies to promote “real estate +” industrial synergy.The large infrastructure construction lays a solid foundation. In the first half of the year, the value of newly signed contracts was US $ 179 billion, approximately + 16%. The acquisition of Henan Highway Engineering Company increased revenue and profits. A large financial strengthening platform, upgrading science and technology genes, shares in Deep Blue Technology, City Cloud International, Tuya Smart, Baicaibang, Ruiwei technology, high-tech enterprises and industrial synergy matrix preliminary formation.Big consumption optimizes industry content, commerce and trade: Xi’an and Tianjin trade ports are under construction, 4 new G-Super stores are opened; hotel tourism: new management and export of 12 overseas hotels, the release of four long-term rental brands, holdings of Shanghai Airlines and China TravelEstablished a joint venture exhibition company; Kangyang: Exploring a new model of Kangyanggu and acquiring Guizhou medicinal materials. In the beginning of the new era of trillions, we maintain the “Buy” rating. We maintain the EPS for 2019-2021.15.1.38, 1.65 yuan profit forecast.Refer to comparable companies for July 2019.8 times the PE estimate, we 成都桑拿网 think the company’s reasonable PE estimate for 2019 is 7.5-8.5 times, target price 8.63-9.78 yuan, maintain “Buy” rating. Risk reminder: there is uncertainty in the pace, scope and intensity of industrial policy advancement; overlapping real estate fundamentals may drag down sales of the company; tight industry financing, and capital construction capital increase pressure on the capital chain.

BTG Hotel (600258) Annual Report 2018 Review: Efficiency continues to improve, expected room for recovery is expected to increase

BTG Hotel (600258) Annual Report 2018 Review: Efficiency continues to improve, expected room for recovery is expected to increase
Core Views The company released its 18-year annual report: 85 operating income.4 ppm / + 1.5%, net profit attributable to mother 8.600 million / + 35.8%, net profit after deduction reaches 6.9 ppm / + 16.0%.The reason why the non-deduction growth rate is less than the net profit of return to mothers is that the sale of Yanjing Hotel, Shouqi shares and other stocks gained incremental investment income.4.4 billion.4Q18 revenue 21.700 million / + 3.1%, net of non-attributed net profit 0.3 ppm / -48.4%, single-quarter performance improved, mainly due to the expansion of increased breakfast promotions and increased operating costs +13.5%, allowing labor costs such as franchise managers to increase + management costs (not replacing research and development expenses) caused by the expansion of information systems +12.3%. Store opening: mid- to high-end expansion + asset-light operation continued to advance.1) In 2018, the company opened 622 new stores, an increase of 110, including 208 new budget hotels and 243 new mid- to high-end stores.In terms of stock, the proportion of mid- to high-end hotel stores has reached 17.8% / + 4.2pct, the number of high-end hotel rooms accounts for 21.9% / + 4.5pct, mid- to high-end hotels continue to make great 成都桑拿网 strides.2) The 18 newly opened stores include 44 directly operated stores and 578 franchise stores. The light asset operation continued to advance. At present, the proportion of franchised stores in the existing hotels has reached 77.2% / + 3.1pct.The deepening of light assets has effectively improved the company’s profitability, and the company’s non-net interest rate in 2018 reached 8.1% / + 1.0pct.3) As of the end of 2018, the company has signed 530 non-opening and contracting stores, expanding the foundation for 19 years of store expansion. RevPAR grows steadily, and house prices remain the core driver.1) Overall: In 18 years, the overall RevPAR of Home Inn reached 156 yuan / + 4.2%, of which house price is 188 yuan / + 7.4%, occupancy rate 83.0% /-2.5 points.Judging by the level, Home Inn Budget Hotel RevPAR reached 143 杭州桑拿 yuan / +1.9%, RevPAR of high-end hotels reached 238 yuan / -5.0%; 2) Looking at the same store data, Home Inn’s long-term RevPAR reached 154 yuan / + 2.8%, of which the house price is 183 yuan / + 5.2%, occupancy rate 84.5% /-2.0pct.According to the level, the budget hotel RevPAR reached 144 yuan / + 2.At 7%, RevPAR for mid- to high-end hotels reached 277 yuan / +2.3%, it can be seen that the overall RevPAR decline in mid- to high-end hotels is due to the structural impact of the newly opened stores during the climbing period. The better-than-expected performance of the economy drove operating indicators to stabilize expectations and estimated to repair the remaining space.We think that since 18H2, the cautious economic expectations and the downward trend of hotel fundamentals have been fully reflected in the previous period, which translates into a faster-than-expected GDP growth rate in 19Q1 and the recovery of some cumulative indicators (such as PMI, domestic air passenger traffic, etc.)Drive the expectation that the hotel’s operating indicators will stabilize, and bring about the expected repair opportunities.The current Brig EV / EBITDA is 10.4X, ranked 14th in the US stock hotel hub.8 times, still has the obvious cost performance and attractiveness.With the recovery of market sentiment, subsequent estimates of repairing remaining space. Financial forecasts and investment recommendations maintain a BUY rating with a target price of 31.0 yuan.We slightly adjust the company’s RevPAR assumptions, predicting that the company’s eps in 19-21 will be 1.00/1.15/1.32 yuan (the original 19-20 eps forecast was 1.05/1.27 yuan), in accordance with the comparable company estimation method, the company is given a 19-year PE valuation of 31X, corresponding to a target price of 31.0 yuan (was 22).88 yuan), maintain BUY rating. Risk warnings: changes in property rents and expense ratios, sudden events and natural disasters, Revpar falls short of expectations, etc.

What is the effect of kumquat

What is the effect of kumquat

Do you know what kumquat has?

Kumquat is a favorite fruit and one of the herbs of Chinese medicine.

What effect does kumquat have?

Today I will show you some of the effects and functions of your kumquat.

  Kumquat, also known as kumquat, belongs to the family Rutaceae and is a famous fruit plant.

Especially in Guangdong and Hong Kong, many citizens buy Tujili for the Spring Festival.

Kumquats are evergreen leaves.

Flowers solitary, white, fragrant.

The fruits are mostly oval, golden yellow, shiny, and some varieties are edible.

  Kumquat’s efficacy and role: Kumquat is quite beautiful, and its fruits are rich in vitamin C, kumquat phospholipids and other ingredients, which have certain effects on maintaining cardiovascular function, preventing vascular sclerosis, hypertension and other diseases.

As a dietetic health product, kumquat candied fruit can be appetizing, drinking kumquat juice can quench the thirst, and adding radish juice and pear juice can cure cough.

  Relieve qi, relieve depression, reduce phlegm, quench thirst, digestion, and sober up.

Kumquat can strengthen the body’s cold resistance, can eliminate colds, and lower blood lipids.

  Kumquat fruit is rich in vitamin A, which can prevent pigmentation, enhance skin gloss and elasticity, slow down aging, and avoid skin sagging and wrinkling.

It can also prevent civilized diseases, such as vascular diseases and cancer. It can also relieve qi and cough, strengthen the stomach, reduce phlegm, prevent surgery and bronchitis.

  Kumquat is beautiful, and its fruits are rich in vitamin C, kumquat phospholipids and other ingredients, which have certain effects on maintaining cardiovascular function, preventing vascular sclerosis, hypertension and other diseases.

  80% of vitamin C in kumquat is stored in the peel. The peel has detoxifying effects on the liver, the care of the eyes, and the health care of the immune system.

  As a dietetic health product, kumquat candied fruit can be appetizing, drinking kumquat juice can quench the thirst, and adding radish juice and pear juice can cure cough.

  Kumquat also contains vitamin P, which is an important nutrient for maintaining vascular health. It can strengthen microvascular elasticity and can be used as an auxiliary nutrition food for hypertension, vascular sclerosis and heart disease.

  Kumquat is suitable for those who have tight chest and depression, don’t think about eating, or have full wounds and are drunk and thirsty; suitable for acute and chronic bronchitis, hepatitis, cholecystitis, hypertension, straight tube sclerosis.

  Note: Do not drink milk one hour before and after eating kumquat, because the protein in milk meets the fruit acid in kumquat, it will solidify, difficult to digest and absorb, and will cause bloating and sadness; it is also inappropriate to eat kumquat before meals or on an empty stomach.Organic acids can irritate the mucous membrane of the stomach wall, and the stomach will feel uncomfortable; itching, sore throat, and cough, it is not suitable to drink sugar when drinking kumquat tea.

People with weak spleen and qi deficiency should not eat more, and those with diabetes should not eat.

Those who have broken tongue and swollen gums should not eat.

  The above is the effect and function of kumquat. I believe you have read the above article and know what effect kumquat has!

Kumquats are also very common in life. As long as they are used properly, they can achieve health effects.