Haida Group (002311): Cross-cycle Haida’s visible white horse

Haida Group (002311): Cross-cycle Haida’s visible white horse

Summary of the report: Haida Group is the first domestic feed company to propose a service-oriented enterprise positioning. It leads the industry in growth and has the strength to span the industry cycle.

As a domestic first-class large-scale farming and animal husbandry company with feed as its core business, in 2018, Haida Group ranked second in the country with a total sales of 1070 inches of feed. The total sales have maintained a growth rate of more than 10% for many years, ranking continuously since 2014.No. 1 in the industry, among which the sales volume of aquatic feed is the first in the country, with a market share of 14.
.

07%, poultry feed has maintained a growth rate of more than 10% for 8 consecutive years, and the compound annual growth rate of pig feed in the past 杭州夜网论坛 four years has exceeded 35%.

The company has a well-balanced product structure, high revenue growth, stable and rising gross profit margin, efficient cost control and strong profitability.

In terms of different species: (1) the company’s aquaculture feed will benefit from the improvement of the aquaculture boom and the growth of overseas markets. At the same time, the advantages of aquatic animal health protection will start to increase after the upgrade and upgrade; (2) the refined upgrade of poultry feed technology andThe flexible mechanism of raw material procurement makes the company’s poultry feed cost potential significant, and through the expansion of business areas, there is huge copy space; (3) the penetration of growth space in the pig feed industry, the rapid progress of large-scale pig breeding has benefited feed 苏州桑拿网 companies, and the pig cycle is anti- (4) The company acquired Daxin Group to expand the layout of northern pig feed, and the sales volume of pig feeding showed an increasing trend; the company has extended downstream to pig breeding, and is currently in the stage of technology accumulation and cost reduction, with sufficient land and personnel reserves, gradually becoming the company’s newOutbreak of performance.

Haida Group can achieve outstanding results in the competition of its peers. Its core competitiveness can be summarized as: clear and excellent “product power”, “four-in-one” fast linkage mechanism, and forward-looking industrial layout and business synergy of superimposed advantages.
Past performance has verified Haida Group’s excellent operating capabilities, especially its ability to grow against the trend during the downturn of the industry, so that investors can expect outstanding performance in the long term!

The EPS is expected to be 1 in 2019 and 2020.

26 yuan and 1.

86 yuan, corresponding to the current sustainable PE of 25.

16 times and 17.

03 times.

We are optimistic that the company’s sales of pig feed and aquatic feed continue to exceed the average growth rate of the industry.

Risk warning: epidemic and disease, fluctuations in raw material costs, natural disasters, exchange rate changes, etc.

China Shenhua (601088): Earnings remain stable and scale of undistributed profits hits record high

China Shenhua (601088): Earnings remain stable and scale of undistributed profits hits record high

This report reads: The non-net profit deduction in the third quarter was basically the same for two years. The long-term association mechanism, coal-electricity linkage, and the reduction of financial costs again appeared in the soundness of profitability. The cash scale remained high, and undistributed profits reached 226.8 billion yuan.

  Investment points: Maintain profit forecast and target price, and maintain “overweight” rating.

The company achieved revenue of 1778 in the first three quarters of 2019.

500 million, down 8 a year.

4%; net profit attributable to mother 370.

900 million, a five-year growth of 5.

1%; deduct non-profit 353.

700 million, down 1 year.

0%, performance is in line with expectations.

Maintaining the company 2019?
EPS 2 in 2021.

27, 2.

44、2.

47 yuan, maintaining 24.

Target price of 78 yuan, maintain “overweight” rating.

  Not afraid of fluctuating coal prices, the deduction of non-net profit in the third quarter was basically flat.

Deducted non-net profit 南京桑拿网 126 in the third quarter.

9 trillion, compared with 127 in the same period last year.

1 billion yuan is basically the same. The average coal sales price in the first three quarters was 426 yuan / ton, which was only 5 yuan / ton lower than the same period of the previous year. The annual average sales price of Changxie Association was 380 yuan / ton, which was higher than the average price of 368 yuan / ton in the first half of the year.Ton, the company adjusted its structure to narrow the proportion of direct coal, which led to more stable subsequent profits.

The unit cost of self-produced coal is 109 yuan / ton, which exceeds the decrease by 2 yuan / ton, of which the total material labor increases by 8.

7 yuan / ton, and the unused reduction and reduction safety fee is reduced by 10 every year.

3 yuan / ton.

  The cash scale remained high, and the undistributed profit hit a new high.

Financial expenses at the end of the third quarter 15.

100 million US dollars down 45.

7%, the cost optimization brought by noise reduction continues to appear.

Monetary funds of US $ 95.9 billion previously reported a slight decline of 1283 million, mainly due to the purchase of interbank certificates of deposit (increased by US $ 22.9 billion) and payment of other payables (decreased by US $ 16.4 billion). The overall cash scale is still at an historical high and undistributed profitsReached a record high of US $ 226.8 billion, far exceeding the US $ 196.8 billion before the 2016 Special Report dividend.

  The amount of power generation decreased slightly, and the assets on the table maintained high quality.

In the first three quarters of the power generation segment, gross profit and gross profit were 383 respectively.

0, 100.

500 million, down 41 a year.

3%, 29.

6%, a decrease of 35 from the median report.

7%, 20.

0% expanded slightly, mainly due to weak demand in the context of the economic downturn, but the company’s average electricity price was 257.

3 yuan / MWh increased by half a year.

4%, the asset advantage attributes continued to appear in the table.

  risk warning.
The release of production capacity did not meet expectations; the scale of capital expenditures expanded; the dividends of subsidiaries did not meet expectations.

How to comfort the crying naughty baby

How to comfort the crying naughty baby

1. Help your baby experience a quiet feeling. Change the time of your baby’s game and give him a break.

Latututian provides the baby with a soft light environment. Try to let him sleep in a dark and peaceful place at night.

  2. Pay attention to your baby’s body language. Your baby rubs his eyes, corrects his head, and suddenly falls asleep, which may all indicate that he needs a quiet place.

  3, know how long the baby’s sleep makes the baby want to sleep, as long as you sleep.

You will find that after getting enough rest, the little ones will adapt to the environment.

  4. Take your baby out for a walk. Take your baby out for a walk. As long as you keep walking, your baby’s emotions will be relieved.

  5. Fix the baby’s crib or cradle as his resting place. Don’t turn the place where the baby sleeps into a game place, and don’t put a pile of stuffed animals in it.

Rotating musical toys, and other things that distract from sight.

  6. Help your baby learn to relax. Give your baby a pacifier or allow your baby to suck your fingers. Wait until his mood is stable, drink enough milk, and let him rest for a while.

  7. Use a “monotone voice” to soothe the hum of the exhausted baby’s electric fan, clothes dryer, and vacuum cleaner, which can divert the baby’s attention and keep him from being attracted by his personality or other sounds at home.

  8. Provide a sedative item to the baby to consider placing an aquarium or a red table lamp with lighting in a dark room to appease the baby who has been overstimulated.

  9. Give your baby a sense of security Try to wrap the irritable baby tightly in the quilt and keep his limbs from moving. This can reduce tactile stimuli and help the baby relax.

  10, shaking the crying baby in a bright and dark quiet room to do a monotonous rocking action, can help tired babies avoid disturbing emotional images and sounds.

  11. Cover your baby with extra visual stimuli. When driving out, consider covering a towel on the east window next to the baby safety chair, or covering a baby stroller with a blanket while walking.

  12. Hold the baby’s whole body tightly in a dark and quiet room and lie down, and hold the baby who is out of control on his chest, which can help the baby to stimulate around his body.

How to reject mosquitoes in summer

How to reject mosquitoes in summer

Selection method of disc mosquito coil, electrothermal mosquito coil, electrothermal liquid mosquito coil The disc mosquito coil is a household sanitary insecticide made by mixing and suppressing household insecticides, carbon powder, adhesives and essences.

  Purchase of traditional dish mosquito coils1.

Look at the color: Non-toxic mosquito coils are finely processed and uniform in color. A plate of mosquito coils can burn for 5-7 hours; toxic mosquito coils are rough in processing, cracked particles are uneven, the color is uneven, and they are easy to break when they are divided.

  2.

Look at the flame: When the non-toxic pan incense is lit, the flame is yellow, and the smoke is white or blue-white; the flame of the poisonous mosquito coil is green, and it emits black smoke.

  3.

Smell: The scent of non-toxic mosquito coils during the combustion is pleasant and pleasing to the eye; the odor of toxic mosquito coils is pungent and dizzy.

  4.

Look at the ashes: the soot of the non-toxic mosquito coil is white.

  5,

When buying mosquito coils, you may go to the stores, supermarkets, etc., recognize the quality certification mark, and choose non-toxic mosquito coils.

  Electric heating mosquito coil is made of inhalable material as carrier and added with insecticide liquid to replace (exterminate) mosquitoes. It is used together with constant temperature electric heater. At the rated heating temperature, the medicament is in a gaseous state.A household sanitary insecticide that acts on mosquitoes and forces them to repel (kill) them.

  Purchase of electric mosquito coils 1.

Visual inspection, the plastic parts of the electric mosquito coil must have obvious plastic defects.

The components of the electric heater are firmly assembled and matched, the fasteners must not be loose, and the metal parts must not have rust spots.

The surface of the mosquito-repellent incense sheet should have no obvious color difference, and when used, the smell is pleasant and pleasant, and there is no irritation.

The liquid mosquito coil solution should be free of delamination, crystallization and precipitation, and there should be no obvious smoke and irritating odor during use.

  2.

Check the origin, manufacturer, and instruction manual of the electric mosquito coil, check the date of production of the mosquito coil (medicine solution), and the certificate or batch number that is registered or identified by the relevant government department.

  3.

Power-on test.

After the power is turned on, the indicator should be bright, and the heat transfer plate should feel hot.

  4.

It is best to use mosquito coil tablets (medicine solution) and electric mosquito coil electric heaters which are recent products produced by the same factory, so that the drug can be fully volatilized.

  5,

Check the tightness of the liquid mosquito coil, and assemble the electrothermal liquid mosquito coil according to the normal working condition. After tilting at the most unfavorable angle for 1 hour, no liquid leaked from the bottle mouth.

  The electrothermal liquid mosquito coil is a kind of mosquito repellent effect which is placed in a bottle body inserted with insecticide liquid by a suckable mandrel and heated by a constant temperature electric heater.Household hygiene insecticide.
  ”Three no” mosquito coil products can not be bought whether in supermarkets or small shops. When buying mosquito coil products, consumers must first look at the packaging box. The outer packaging of the product should have the factory name, address, production date, expiration date, ingredients, and implementation standards.Pesticide registration, etc .; Second, touch the surface, taking the disc mosquito coil as an example. The rough and uneven surface indicates poor quality.

For electric mosquito coils and liquid mosquito coils, the plastic parts have obvious warpage deformation, cracks, scratches, burrs, etc., and the fasteners must not have loose deformation; special attention should be paid to the production date of the product.Recently, the better the mosquito repellent effect; at the same time, carefully observe the ingredients and try to choose permethrin products, amylathrin, ES bio-permethrin, etc. These can be used in human environments, and try to avoid selecting organic phosphorus and urethaneproduct.

  With regard to the choice of mosquito coil types, some consumers may think that electric heating mosquito coils are less harmful to humans than traditional disc smoking mosquito coils, but experts have said that the two products of electric heating mosquito coils and traditional disk mosquito coils are actuallyThe same raw materials are used, and the active ingredients are chemical preparations with insecticidal ingredients. Therefore, the expression “electric heating mosquito coils are less harmful than traditional disc smoke mosquito coils” is unscientific and unfounded.

Some fake low-quality electric mosquito coils even contain realgar powder, which causes chronic poisoning in humans.

  Use: It should be used in accordance with the method indicated in the product instruction manual. Keep it out of reach of children and patients with allergies. When using household sanitary insecticides, maintain proper ventilation in the room. If there is insufficient, open doors and windows to allow indoor air circulation.

When using electric mosquito coils or electric liquid mosquito coils, it is best not to use expired electric heaters to avoid the risk of electric shock.

Hygienic pesticides are toxic to silkworms and fish. Wash hands after use.

  Storage: Avoid direct sunlight and keep it away from fire, so as not to cause fire.

It should be kept in a cool place and kept out of reach of children to avoid eating by mistake.

  Pregnant women, the elderly and children, and the mosquito-repellent incense-free cigarettes contain ultra-fine particles. The amount of particles released by a plate of mosquito coils is the same as that of 4-6 packets of cigarettes.

And once the ultrafine particles contained in the mosquito-repellent incense smoke are sucked into the lungs, it may cause short-term breathing, headache, eye pain, suffocation, nausea and so on.
Therefore, to repel mosquitoes with mosquito coils, it is best to put the mosquito coils on the vents and use a small half plate at a time.

Wash your hands immediately after coming into contact with mosquito coils to avoid ingredients remaining on your hands.
The best time to use mosquito coils is around 7pm.

Because mosquitoes that have been at war with mosquito coils for years have a certain resistance, and now the active ingredients in mosquito coils have increased more than in the past, so special groups such as infants and pregnant women must be careful.

Infants and young children are advised not to use mosquito coils. Instead, use mosquito nets. Pregnant women are better off using mosquito coils.

  Couplings to repel mosquitoes: Put a few boxes of uncovered cool oil and wind oil essence in the bedroom, or put one or two pots of blooming tuberose, jasmine, milan, mint or rose, and the mosquito will escape because of its unbearable smell.

Or, taking vitamin B orally before bedtime and excreting it from sweat after being metabolized by the human body will also produce a smell that mosquitoes dare not approach.

Drink cold drinks in the summer, be careful to drink the spleen and hurt the stomach.

锘?

Drink cold drinks in the summer, be careful to drink the spleen and hurt the stomach.

Drink cold drinks in the summer, be careful to hurt the spleen and hurt the stomach. 1. Do not drink cold drinks that have been stored in the refrigerator for a long time. Many people will put a lot of cold drinks in the refrigerator at home, and then slowly drink and eat slowly.In fact, this is not right, the refrigerator is not an anti-virus cabinet, can not eliminate the effect of sterilization.

Therefore, cold drinks should be eaten as soon as possible, and in the refrigerator for a long time, the quality will be reduced, not as fresh as it was at the beginning.

2, eat cold drinks time to pay attention to summer cold drinks is not want to eat can eat, like an empty stomach before meals, just after eating is not suitable for drinking cold drinks, otherwise it is easy to hurt the stomach.

Generally, it is advisable to drink 30 minutes after a meal or after a nap. It is better to drink cold drinks with ice cubes at around 3 pm. At this time, the human body is the most yang, and it is not easy to harm the human body.

3, do not immediately drink cold drinks after sweating, summer temperatures are high, walking will have a lot of sweat, especially after the activity is only a lot of sweat.

Do not drink cold drinks at this time, otherwise it is easy to “sweat closed”, resulting in poor circulation of sweat pores, difficulty in heat dissipation, residual heat accumulation, and easily lead to heat stroke.

4, every time you eat cold drinks to master the amount when you want to eat root ice cream outside, normal, but do not eat 2 or even 3 consecutively, do not drink more drinks, do not exceed 150 ml, the best bottledDo not exceed half a bottle. If it exceeds it, it may hurt the spleen and stomach!

5, drink cold and slow speed to “slow” out of the sweat, and then drink a cold drink is how cool.

However, it should be noted that the cold drink is very irritating to the gastrointestinal tract. In order to avoid injury, it is best to savor the cold drink and slowly drink it, so that there is less stimulation for aseptic.

Eat solid ice cubes, which can be contained in the front of the mouth before the entrance, wait for the ice to melt, and then slowly swallow it near the body temperature, so as not to stimulate the cerebral blood vessels, throat