Little Swan A (000418): strong execution ability, fast transition effect

Little Swan A (000418): strong execution ability, fast transition effect

2018 results are higher than expected The company’s 2018 results: operating income of 236.

400 million, an increase of 10 in ten years.

5%; net profit attributable to parent company 18.

6 ppm, an increase of 23 in ten years.

6%, profit 2.

94 yuan.

Operating income for the fourth quarter of 201862.

2 ‰, an increase of 15 in ten years.

0%; net profit attributable to parent company 5.

20,000 yuan, an increase of 41 in ten years.


In the fourth quarter of 2018, revenue exceeded expectations and retinal pigmentation drove performance beyond expectations.

Initial special dividend 4.

0 yuan, 2018 dividend rate of 135.


Good financial indicators and good operating results: 1) Gross profit margin 26.

2%, a year to raise 0.

9ppt; Net profit (including minority shareholders’ profit and loss) rate 9.

0%, increase by 1 a year.


Return on net assets 24.

3%, increase by 1 every year.


2) The cash flow is good, and the cash at the end of the period is 161.

600 million yuan, an increase of 22 over the beginning of the period.

10,000 yuan.

Execute T + 3, ending inventory 17.

600 million, down 2 from the beginning of the year.

300 million.

3) The sales volume and price 杭州夜网 went up, and the sales volume of washing machines was 21.15 million units, an increase of 3 per year.

4%, the average ex-factory price was previously increased by 7.


Market resilience is strong: 1) In the face of market demand differentiation in 2018, Haier Casa Di competed at the high end and Xiaomi competed at the low end. The company once lost market share.

1Q / 2Q / 3Q / 4Q revenue growth rate of 19.

7% / 7.

5% /-0.

9% / 15.
2) The company adjusts its strategy in time to cope with multi-brand operations.

Midea’s brand positioning is cost-effective and actively expands the market. In 2018, revenue increased by 27%.

Little Swan brand positioning is mid-to-high end, with an average price increase of 12%.

Beverly’s benchmark against Casarti has grown significantly by 222% in 2018.

AVC monitors offline channels, and Beverly’s retail sales accounted for 2% in 2018.

5%, the market share is increasing rapidly.

The development trend Midea Group will absorb the merger of Little Swan by issuing A shares, which is expected to be completed in 2Q19.

Earnings forecasts take into account higher-than-expected income and the impact of declining growth rates, raising the 2019/20 EPS estimates by 5% / 5% to 3.

37 yuan / 3.

87 yuan.

Estimates and recommendations maintain recommended levels.

Raise target price by 11% to 72.

82 yuan, corresponding to 22x / 19x 2019 / 20eP / E, compared with the current increase of 28%.

The company currently corresponds to 17x / 15×2019 / 20e P / E.

Risk Market demand fluctuation risk.

Qilian Mountain (600720) in-depth report: regional demand picks up

Qilian Mountain (600720) in-depth report: regional demand picks up
Benefiting from demand, the market is getting better: after the resumption of postponed construction projects in the early stage, the infrastructure sector as the main force of cement consumption in the Ganqing region has driven the rapid growth of cement demand in the current region.The infrastructure in the Gansu-Qingdao region has always been weak. With the introduction of the “Struggling to Fight the Poverty Alleviation Campaign” and “Infrastructural Weaknesses” at the 19th National Congress of the Communist Party of China, the government’s investment in infrastructure has not decreased.In addition, the real estate market in Gansu Province is still strong in 2019, and the promotion of cement consumption cannot be ignored.In the medium and long term, the advancement of “urbanization” and “the Belt and Road Initiative” will support regional demand.The supplementary production capacity in the Ganqing region is limited, while the peak shift production still maintains a certain intensity, coupled with the attenuation of external cement shocks, providing overall controllability.We believe that in the context of continued rebound in downstream demand, regional market conditions are trying to continue to improve.  Ganqing cement leader, enjoy regional economic rebound: Qilian Mountain is the largest cement 北京桑拿洗浴保健 clinker manufacturing company in Ganqing region. At the same time, it is actively contacting the gap in the Tibetan market and will fully enjoy the performance growth brought by the economic recovery.  Earnings forecast and investment grade: We expect Qilianshan’s diluted EPS to be 1 in 19-21.34 yuan, 1.44 yuan and 1.51 yuan.Considering the regional sudden change of the cement industry, the prosperity of the North and South markets has improved. We chose some of the North cement listed companies in the A-share for comparison. The average PE (2019E) of the comparable company is 8 times, and the PE (2019E) of Qilian Mountain is 6 times., Below the industry average.Considering that the company’s regional market continues to improve and the company’s production capacity is continuously released, the product is expected to achieve both volume and price increases.Covered for the first time and given a “Buy” rating.  Predicted catalysts: downstream demand exceeds expectations; industry supply volume is less than expected; the company’s clinker capacity release exceeds expectations.  Risk factors: lower-than-expected investment in infrastructure; downside investment in real estate; market competition risks; higher-than-expected release of regional supplies; rising costs of raw materials; off-peak production; lower-than-expected environmental protection;

Seven strokes!

Let children fall in love with kindergarten life

Seven strokes!
Let children fall in love with kindergarten life

For young children, kindergarten is a strange environment full of psychological killing battlefield.

Because children’s biggest “separation concerns” arise in kindergarten.

  Some children are unwilling to enter the nursery, crying and even refusing to feed. Parents are afraid of aggrieved their children. As a result, the delivery will be stopped, the fish will be caught for three days, and the child will not be able to adapt to collective life for a long time.

  In this case, the following points can be taken as a solution to the problem: 1. It must be sent daily, with a firm attitude, saying “it’s time to go to kindergarten tomorrow”, don’t say, “Will you go to kindergarten tomorrow?

“Don’t coax the child or agree to the child’s unreasonable demands, until the child cries every day and can’t be shaken.

  2. Put the child in the class and immediately turn away. The teacher in the class has ways to comfort the child.

Don’t cry with tears, turn around three times in one step. This worrying mood will infect the child, making him more afraid and lonely.

Actually, it will be okay for the child to cry for a few days.

  3. If possible, you can pick up the child earlier in the first few days, so as not to increase the loneliness and homesickness of the child when there are only 1-2 people left.

  4. If your child is timid and introverted, you can first introduce the child’s personality characteristics to the teacher. Ask the teacher to introduce a lively and outgoing child to play together, and the child will adapt more easily.

  5. Learn from your teacher about your child ‘s performance throughout the day, and praise for any small progress. This is a kind of spiritual comfort for the child.

  6. After picking up from the kindergarten, talk to the child about the kindergarten life, let him perform the nursery rhymes and dances that he learned in the kindergarten, and guide the children from the positive memories of the life in the kindergarten.

  7. Remember not to send the kindergarten nursery as a threat to the child, so he will deepen his antipathy to the nursery kindergarten.

  The kindergarten is still alive for every child, just because it is a completely strange place where no relatives can be seen.

When Mommy left, she screamed and cried frantically, and lay helplessly on the ground. The horrible memory had a kind of tearing and separation for the child.

Therefore, how to make children happy to go to kindergarten is a very important and difficult obstacle for parents. Parent-child education in this period has a great impact on children’s mental and psychological development, and represents another change in life.And metamorphosis.

  Establishing good interpersonal and social relationships In fact, it is not difficult to help children willing to go to kindergarten, as long as you use a little brain, you can cope with Yuru.

  The following strategies and methods can be used as a reference for parents: First, find a friend for the child, a child of the same age or a freshman or two years old.

  Take time every day to let children and children of similar ages get along with each other in order to establish good interpersonal and social relationships. When going to kindergarten in the future, you can go to school with your companions so that you will not feel lonely and unaccompanied;It is to develop a child’s normal habits.

  Early to bed and early to get up for two meals on a regular basis, take a nap at noon; the third is to take children to outdoor sports, games, and learn good living habits; the fourth is to complete the training of children’s bowel movements.

  Let children learn to take care of themselves and increase their self-confidence; the fifth is to cultivate children’s interest in reading.

Provide some simple pictures and pictures for young children to cultivate their reading habits.

When not attending kindergarten, first develop the habit of regular life and the spontaneous life, and then you can adapt to group life in the future, and will not cause maladjustment due to changes in life.

  Reducing setbacks and enhancing self-confidence. Second, the development of good habits must be accumulated bit by bit.

Therefore, parents must take the time and effort to cultivate their children’s good living habits, encourage them to know more with other children, and build relationships with peers and peers.

Raising children to work and rest and train children to urinate, the ultimate goal is to adapt children to group life. If children do not develop these habits, it is easy to suffer frustration and reduce their self-esteem in the group life; secondly, increase the damage of kindergarten teachers, which is vulnerableThe ridicule of the classmates will cause great harm to the child’s young mind, lose self-confidence and shrink back from timidity, dare not try and take risks easily, and lack of enterprising spirit.

  So before your child goes to kindergarten, make sure that the child learns to go to the toilet by himself.

  For example, when my son turned four, I asked him to start a small kindergarten class.

I remember taking my son to school on the first day. As soon as he walked into the school gate, his son immediately released my hand and greeted the children everywhere happily. They had a good time; the next day they had a class and the son was wearing a kindergarten uniform and standingAlley waited for the dolly car. Seeing his expectation and happiness, he didn’t have any fear of going to school.

Going to kindergarten becomes the happiest thing for children every day.

  Most children today are only children. It is better to send them to a nursery or kindergarten where conditions allow them to live a collective life. Children of the same age have a natural affinity with each other. Soon they will live in harmony and happiness together.
The incompatibility that just went to the kindergarten and kindergarten will soon pass, parents need not worry too much.

Office Yoga for total relaxation

Office Yoga for total relaxation

You spend most of your day in front of the office computer. Fatigue of the shoulders, restructuring, waist, etc. often hits your body.

  When using the computer, with both hands extended forward, the uneven movement of connecting the shoulders forward and backward will naturally cause pain in the shoulders, back and menstrual areas, and even cause diseases such as keyboard protrusion and migraine.

  The following is a set of office yoga exercises for friends who are too violent and do n’t have time to exercise. Let ‘s take a look at office yoga: 1. Office yoga with exercise can adjust the uneven top of the exercise to promote shoulders, neckDepartment, head blood circulation.

Steps: Stretch your arms until they are parallel to the shoulders, grasp the fist at the same time, stretch forward to the other side, and then forcefully expand the volume to be equal to the shoulders. Repeat 20?
30 times, you will feel very comfortable muscles.

  2, office yoga shoulder and shoulder swing left and right can flatten the shoulder to achieve the effect of balancing left and right shoulders.

  Steps: Grasp your left leg with your right hand, and then place your left hand behind your back, so rotate the upper body and rotate left and right 3?
5 times.

  3, office yoga soothes fatigued spine and intervertebral disc protrusions, each bone segment of the spine will feel very tired, this action can achieve soft spine and complications, and promote blood circulation.

Steps: Put the center of gravity on the left and the back, and exercise repeatedly 20 times.

  4. Office yoga stretches the curved waist and shoulders, can stretch the curved waist and shoulders, promote metabolism, relieve fatigue, and can make your thinking clearer.

Step: Gently tilt your body downwards, don’t use too much force, as long as you feel refreshed, repeat about 10 times.

  5. Office Yoga adjusts the pelvis to protrude. The pelvis will become prominent when sitting continuously, and it will have an impact on the waist.

Steps: Put your hands on your knees, and then put your center of gravity on your left and right legs respectively. This is the full movement of the pelvis, which is repeated 50 times a day.

Place the center of gravity on the left and back, and repeat the exercise 20 times.

How to treat chloasma?

Recommended Chinese medicine acupuncture beauty freckle

How to treat chloasma?
Recommended Chinese medicine acupuncture beauty freckle

Acupuncture treatment of chloasma 1, liver qi stagnation: must take the pulse points.

Take the line, too rushing, gas sea, Sanyinjiao, causing acupuncture and ventilating blood and face ecchymosis.

Chest flank full of Jiamen, waist and knees plus kidney.

2, kidney deficiency fire (hepatic kidney yin deficiency) take liver Yu, Shenshu, Zusanli, Guan Yuan, life door.

(Yi Jingxue, Buganshen and Kidney) above the points to nourish liver and kidney to regulate qi and blood, nourishing yin and fading.

3, spleen deficiency and dampness: spleen, Shenshu, Sanyinjiao, Zusanli.

With the disease to take a point of abdominal distension: squat, gas sea; note: Tianshu.

In addition to this, acupuncture or spurting at the lesion site is mainly to clear the local qi and blood.

You can also add Liuwei Dihuang Pills and Jiawei Xiaoyao Pills along with the card.

1 course of 10 times every 20-30 minutes starting every other day.

Chinese medicine believes that the occurrence of chloasma is related to the following diseases: 1, the emotion does not follow, leading to liver qi stagnation, poor air, qi and blood can not be on the face; 2, diet is not good, damage the spleen and stomach, spleen lost health, water wetStop inside, blood is not smooth, face is dying; 3, old and poor, kidney yin, resulting in inflammation on the virtual fire, skin dying, the true color of the kidney is in the face; 4, the wind is not affected by the windCan not support face.

Clinical manifestations: light brown or brown plaque, irregular shape is often symmetrically distributed in the lips, forehead, sputum, retina, nose, eyes, temples, etc., some are butterfly-shaped, no symptoms, some patients have some initialReddish and faint spots will not be found. Once found, they have grown very long, spring, summer deepening, autumn, and winter lightening.

TCM syndrome differentiation 1, liver qi stagnation: face plaque, waist and knees are sore, irritable, irritable, chest fullness, dark tongue or purple plaque, thin thin fur, thin pulse.

2, kidney deficiency fire: face with spots, sometimes some dark brown plaque, and some are accompanied by weak waist and knees, fatigue, weakness, redness, less mossy and sometimes thin.

3, spleen dampness: face spots are yellow-brown, stagnation, abdominal distension, tongue pale moss, veins and sometimes strings.

Self-care for the treatment of chloasma 1, pay attention to diet conditioning and eat more foods containing more vitamin C; 2, regular work, work and rest, to ensure redundant sleep; 3, keep the mood comfortable and worry, angry; 4,Avoid sun exposure.

5, avoid abuse of cosmetics.

6, to avoid excessive mental stress.

7, adhere to exercise and improve physical fitness.

Top 10 Depressed Women in the Workplace

Top 10 Depressed Women in the Workplace

Many women are afraid of frequent business trips due to job requirements.
Women’s physical and mental pressure have been under great pressure for a long time. The climate, water, soil and diet in different regions have brought a lot of challenges to women’s bodies.
Fatigue from business trips may also cause female physiological functions and endocrine disorders, which in turn affects skin color and health, while failing to take care of family life.
  In second place is the issue of sexual harassment.
“The boss is a big satyr and there is always the danger of being harassed” has become a concern for many women in the workplace.
  Experts remind women in the workplace that women need to show their attitudes promptly and clearly about harassment that has to be measured. Otherwise, silence will be understood as acquiescence, and indulgence will be more detrimental to themselves.
The third most depressing thing is to accompany male customers to eat and drink.
Many women in the workplace have to act as “public relations weapons” and accompany men and women to eat and drink, which not only takes up a lot of personal time, but also endures some nonsense and nonsense after drinking.
Experts said that for ordinary jokes, a simple smile can be given, which will not embarrass the other party or give the other party a chance to “get in.”
If the other person’s behavior is disgusting “harassment”, then you must show your attitude and immediately cut off the other person’s “thought”.
  The reporter found that two of the top ten depressions came from work pressure: frequent business trips and frequent overtime.
There are three things related to children: do not want children, but the family is under pressure; want children, but too busy to work can not be considered; pregnancy will be unemployed.
  There are 4 things related to gender: gender discrimination, hostility by female bosses, danger of sexual harassment by male bosses, and eating and drinking with male clients.
Another thing related to safety is to work overtime at night.
  TOP10 for women in the workplace
Travel frequently 2.
The boss is a big pervert and there is always the danger of being molested 3.
Accompany male customers to eat and drink 4.
The boss is a demon head, full of hostility between the same sex 5.
Sex discrimination within the unit 6.
Don’t want children, but the family is under pressure 7.
Work overtime at night 8.
Working too busy to consider having children 考虑 9.
Often work overtime 10.
If pregnant, the position will be gone

Sleeping mask allows lazy women to have beautiful skin


Sleeping mask allows lazy women to have beautiful skin

Guide: Sleeping mask allows lazy women to have beautiful skin, everyone wants to have a beautiful face, because beauty is often the first pass of a person, so beauty has become an indispensable content of life, but what needs attention isNo matter how to do beauty and care, it is important to be healthy while being beautiful.

  Beauty always feels complicated and troublesome. Some lazy MMs simply don’t want to pay attention to beauty.

Don’t make excuses for your laziness. In this era of advanced technology, beauty is becoming more and more simplified and effective.

Sleeping mask is a good product to rescue lazy beauties.

  Don’t let the water slip away quietly: if your face is breathable, it should be very unfavourable to apply a plastic wrap.

Sleeping mask is really an indispensable equipment for autumn and winter. Touching the jelly-like sleeping mask, Beier has a moisturizing texture.

Get up in the morning, the skin is called tender.

  Tighten the skin and return to its hometown: Another benefit of the sleep mask is to make your skin taut, so that it can be attacked by “storm snow”.

Massage the masked face for two minutes before bedtime, and the new fine lines on the next day will be very few.

  Sleeping angels: With “wearing a jacket” on the body during the day, it might be better to “treat after an injury” at night.

It contains a plant essence sleeping mask to soothe the skin, and even makes you feel “skin care is a treat” even in your dreams!

  ”Satisfied” Changle: After washing your face, patting your face with a clap, it is refreshing and clean, without feeling greasy, indicating that your skin is full.

If black people have allergies, they need to change their brand.

  Intriguing “taste”: It is estimated that when you sleep with a full face of alcohol, you will also dream of falling out of the wine jar at night!

A mask without excessive odor is of course the best, but it is not boiling water after all, and the faint floral fragrance can promote sleep better.

  The “way” of good “color”: Do not mind the color of the sleeping mask, this mask usually does not intentionally add pigment.

The crystal color is the most dreamy color, and there is no trace on the face.

The blue and pale green pastes represent colors with hidden ingredients.

  Error Correction Sleep Mask Error Zone: Q: “Using a sleep mask every day works best?

A: Sleeping mask is used as a universal cream every day. Of course, NO, it is enough for the skin to be full if you do periodic care according to your skin type.

No matter how much it is used, it prevents the skin from repairing itself, and it is also difficult to please.

  Q: “Will pillows be placed at night?

A: As long as you use it according to the instructions, you don’t need to worry about this problem.

Because the sleeping mask needs to be massaged on the body before it can be absorbed by the skin, there is nothing to worry about naturally.

  Q: “Can’t everyone use the sleep mask?

A: Normal skin can be used for 7 consecutive days, and then use the next day; after using the sleep mask, dry skin needs to be used with moisturizing night cream or beauty liquid; oily skin and combination skin are used frequentlyKeep it a little less. After five days of continuous use, use it every 3 days to allow the skin more time to breathe freely.