Zong Qinghou: Wahaha prepares to build vertical e-commerce for health products

Zong Qinghou: Wahaha prepares to build vertical e-commerce for health products
Sauna, Yewang learned on April 18 that the chairman of Wahaha Group Zong Qinghou found in an interview program that Wahaha has now completed a full resumption of work, and sales have increased by 31% in the four months to date.Wahaha is preparing four e-commerce platforms for health products e-commerce platform, food and beverage e-commerce platform, cross-border e-commerce platform and Habao Amusement Park.Wahaha wants to enter the existing clues of e-commerce platform business operations.On March 24, Hangzhou Wahaha E-Commerce Co., Ltd. was established with a registered capital of 200 million US dollars. Its business scope includes food business, food internet sales, import and export of goods, and import and export agents.On April 2, Hangzhou Wahahaha Hongzhen Cross-Border E-Commerce Co., Ltd. was established with a registered capital of 5 million. Its business scope includes Internet sales, daily necessities sales, and import and export of goods.Zong Qinghou believes that consumers’ online shopping habits have been formed and affected by the epidemic, a large amount of consumption has shifted from offline to online, and Wahaha’s channel advantage has always been offline.Therefore, Wahaha intends to establish its own food and beverage e-commerce platform, promote the combination of online and offline channels, and create a digital marketing platform.After the platform is mature, it can also help other companies sell food and beverages.Regarding the reasons for getting involved in health care e-commerce, Zong Qinghou said that China’s big health industry has reached a trillion-scale market size, which is very promising; through this outbreak, consumers are paying more attention to their own health, prompting the promotion of big health industryDevelopment; Wahaha proposed the “Great Health” strategy many years ago, which already has the foundation in the development and production of healthy food.At present, there is no professional, vertical health product sales platform in China, which is a possibility for Wahaha.In addition to selling its own products, Wahaha also intends to invite well-known domestic and foreign health products brands to settle in.Sauna, Ye Wang Wang Ziyang editor Li Yan proofreading Li Xiangling

[How to make braised pork with bright red color]_Production_Practice

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[How to make meat with lettuce wraps]_Lettuce with meat_How to make_Making method

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Gree Electric (000651): Hybrid reform will further release vitality

Gree Electric (000651): Hybrid reform will further release vitality

Event: The company issued an announcement that on December 2, 2019, the controlling shareholder Gree Group and Zhuhai Mingjun signed the “Equity Transfer Agreement”, and Zhuhai Mingjun will receive 46.

17 yuan / share (earlier September 3 after the adjustment of the ex-rights and ex-dividend adjustment of the lowest sustainable premium4.

5%, a discount of 20 from the company’s closing price on November 29.

0%) for 902,359,639 shares of Gree Group (accounting for 15% of Gree’s total share capital), with a lock-up period of 3 years.

The total transfer price is 416.

600 million, of which Zhuhai Mingjun contributed 218 with its own funds.

50,000 yuan, the remaining funds come from loans from China Merchants Bank.

  After the completion of the equity transfer, the top three shareholders of the company will be Zhuhai Mingjun (holding 15 shares.

0%), Hebei Haihai Guarantee Investment Co., Ltd. (holding).

91%), Gree Group (holding 3 shares.

22%), diversified equity, the company will have no actual controller.

  The company will resume trading on December 3, 2019.

  Opinions: The interests of the company and leaders are more closely bound, and the incentives are diverse: (1) It will become about 2 of Gree Electric.

4% of shares: Gezhen Investment is the company’s shareholder entity, which is mainly composed of 18 leaders (including Ms. Dong Mingzhu holding 95 shares).

48%), which directly holds Zhuhai Mingjun 6.

38% of the shares are held indirectly through Zhuhai Yuxiu.

01% shares, and according to the agreement, Zhuhai Botao will own 4.

72% of Zhuhai Mingjun’s shares are transferred to the joint entity, and then the share entity will be able to hold Zhuhai Mingjun11.

11% of the shares, or 1.

67% of Gree Electric’s shares are merged to 0 currently held by Ms. Dong Mingzhu.

74% of the shares, the entire management team’s shareholding ratio will reach 2.


(2) GP income incentive employees: According to the agreement, the entity will receive GP income generated by Zhuhai Mingjun at a rate of 41%, and convert it into its existing 8% of the total GP income allocated to the listed company in an appropriate manner.The company has important contributions to unions and employees.

(3) Equity incentive plan: According to the agreement, after the completion of the equity transfer, the listed company will promote the equity incentive plan that the listed company gives to the entity entity and the number of key employees does not exceed 4%.

Leader’s voice increased: According to the articles of association and agreement of the listed company, the board of directors of the listed company has 9 directors, and Zhuhai Mingjun has the right to nominate 3 directors.

The ultimate controlling entity of Zhuhai Mingjun is Zhuhai Yuxiu, and the board of directors is composed of three directors. Zhuhai Gaocheng has joined HH Mansion and PearlBrilliance. The main entity, Gezhen Investment, has the right to appoint one director, but two of them need managementRecognition of the entity.

We believe that the company’s actual speaking power on the board of directors of listed companies will increase, and it will be more efficient 成都桑拿网 in corporate management and operation decisions in the future.

Dividends are expected to be stable: Zhuhai Mingjun promises to actively exercise shareholders ‘voting rights or gradually change its appointed directors to exercise their voting rights on the board of directors in the shareholders’ meetings of listed companies that involve dividends.Below 50%.

The average dividend ratio of listed companies in the past 10 years is 39.

4%, but in the past two years, the non-linear transition, we believe that the agreement on the dividend ratio will stabilize the dividend expectation, which is conducive to the company’s forecast recovery. According to the 50% dividend ratio and the expected net profit of 27 billion in 2019,Calculated, it will be able to pay a dividend of 135 million U.S. dollars, and earn 3 exchange proceeds.


Make the listed company’s annual net 都市夜网 dividend payout ratio not less than 50%.

The average dividend ratio of listed companies in the past 10 years is 39.

4%, but in the past two years, the non-linear transition, we believe that the agreement on the dividend ratio will stabilize the dividend expectation, which is conducive to the company’s forecast recovery. According to the 50% dividend ratio and the expected net profit of 27 billion in 2019,Calculated, it will be able to pay a dividend of 135 million U.S. dollars, and earn 3 exchange proceeds.


Profit forecast and investment advice: After the completion of the equity transfer, the company will be more closely tied to its stakeholders, which will gradually increase the company’s vitality. Gao’s intervention will promote the company’s capital operation. Dividend expectations are also expected to stabilize.Both company performance and estimated budgets will have a positive impact.
In order to reflect the impact of the company’s recent 10 billion yuan profit promotion on Q4 performance, we lowered our 2019 profit forecast.

We expect the company’s net profit in 2019 and 2020 to be 270 trillion and 301 trillion, a year-on-year increase of 2.
9%, +11.

7%, EPS is 4.

5 yuan, 5.

0 yuan, P / E is 13X, 12X, it is not estimated, we continue to give “buy” investment advice.

Risk Warning: The overall growth rate of the air-conditioning industry is accelerating, competition among industries is intensifying, raw material prices fluctuate, and distribution and delivery are less than expected

High-Energy Environment (603588): 1H19 Performance Pre-increased 22% -32% Three Core Businesses Steady Advancement Supporting High Growth

High-Energy Environment (603588): 1H19 Performance Pre-increased 22% -32% Three Core Businesses Steady Advancement Supporting High Growth
Predicted annual profit growth of 22-32% The company announced 1H19 performance forecast, it is expected that the net profit attributable to the mother in 1H19 will be 1.85-2 ppm, an increase of 22% -32% in ten years;8-1.95 ppm, a growth rate of 19% -29% in ten years, the company still maintained a high growth rate under the high base of 130% increase in net profit attributable to mothers in the same period last year, in line with our expectations.Last year’s 2Q18 single-quarter net profit attributable to mothers increased by 93%, and the high-base 2Q19 single-quarter net profit attributable to mothers increased by 8-20%.We believe that the company’s main businesses, soil repair, waste incineration, and hazardous waste disposal, are all high-speed growth periods in the industry. The company’s on-hand order reserve accumulation and 南宁桑拿 financing space transmission will help support the company’s continued growth. Points of Attention The company has sufficient reserve orders to support the company’s performance growth.We count the company’s new Binjiang E2 plot (1.600 million), Shandong Dacheng agrochemical soil remediation (1.400 million yuan) and other projects, the total amount of additional orders for engineering contract is about 8.6 trillion, accounting for 90% of the engineering contracting business revenue in 1H18, and 33% of the engineering construction business revenue in 2018.The company’s incineration capacity is 8,800 tons / day (only 500 tons / day has been put into operation); the scale of hazardous waste permits is about 50 tons / day, which will be expanded. If new projects are successfully put into operation, the future production capacity will increase by 80%.We believe that the company has sufficient order reserves, which is expected to support the company’s high growth. Convertible bonds start to convert shares, and the company has ample financing space.Total company amount 8.The 4 trillion convertible bonds will be converted into shares in February (the period of conversion to July 25, 2024), as of June 30, there are already 1.31 trillion converted into ordinary shares.We estimate that if all the shares are converted, the company’s debt ratio is expected to fall by 10 ppt to 54%.The company still has USD 600 million of green debt quota to be allocated, which has sufficient financing space.At the same time, the incineration at hand was changed, and the hazardous waste projects continued to be put into operation, and the company’s operating cash flow is expected to continue to increase, which will help the company reduce its burden of capital expenditure. Estimates and recommendations maintain the “Outperform Industry” rating and the company’s 2019 / 2020E profit forecast4.22/5.4.7 billion unchanged.The current company corresponds to 17 of 2019 / 2020E.1/13.2 times P / E, maintain target price of 16 yuan / unchanged, corresponding to current expectations there is still room for 51% growth. Risk environment repair orders were less than expected, waste incineration, hazardous waste projects were not advanced as expected, financing risks, policy risks.

Shimao (600823): There is huge room for leverage, and asset quality is seriously underestimated

Shimao (600823): There is huge room for leverage, and asset quality is seriously underestimated

Investment Highlights: The company’s revenue and profits have grown steadily, in line with expectations.

The company achieved operating income of 206.

700 million, an increase of 10 in ten years.

7%; realized net profit of 47.

30,000 yuan, an annual increase of 27.

2%; net profit attributable to mother 24.

0 million yuan, an increase of 8 in ten years.


The company realized property sales income of 192.

800 million yuan; realized non-property sales revenue13.

9 trillion, non-property sales revenue accounted for 6 of the total revenue.


Shigekura first and second lines, the value of soil storage realized 5 years of sales.

The company has a relative compound growth rate of 35% in 2017-18, with 13 million cubic meters of soil storage in hand, and a value of nearly 150 billion yuan. It can be sold statically for more than 5 years.

The value of the first line is 27%, the second line is 63%, and the Yangtze River Delta Pearl River Delta combined accounts for 82%, which will help to benefit from the recovery of the first and second tier cities in 2019.

The company’s heavy warehouse layout in the Greater Bay Area, the Pearl River Delta’s value of goods accounted for 45%, of which Shenzhen-Hong Kong International Center project, located in the hub of Shenzhen’s expansion to the east and north of Guangdong, is one of the key areas of the construction of the Greater Bay Area.Worth 60 billion.

The company is one of the core beneficiaries of the construction of the Greater Bay Area from a market perspective.

ROE only reached the industry average only because of lower leverage.

The company’s diluted ROE is 10.

2%, only reaching the industry average.

We think the company’s net margin (22.

9%) far surpasses the industry. It is one of the few real estate companies that has corrected high land price invasion in recent years. The turnover rate of assets excluding investment real estate is much higher than that of the industry, and the turnover rate is avoided from being dragged down by commercial projects.

What really affects the company’s ROE is the leverage ratio, the interest rate rejection rate22.

6%, far below the industry average.

The company’s finances are stable, financing costs are lowest, and ROE has a lot of room for improvement.

In 2018, 杭州夜网 the company’s comprehensive financing cost was about 5.

8%, one of the lowest costs among private housing companies.

At the same time, with the positive change in business attitude in the past two years, the leverage ratio is contrary to the room for improvement.

The dividend rate has been significantly increased to 40%, or ranked as the most preferred by life insurance.

Since 2014, the company’s dividend rate has remained at about 10%, which has been lower than the CSRC’s expected cash dividend requirements for listed companies. Taking into account the company’s parent company Shimao Real Estate’s dividend rate has been above 30% for many years, Shimao’s net profit attributable to the motherIt is less than 30% of Shimao Real Estate, so the increase in Shimao’s dividend rate actually has little effect on the overall equity of Shimao Group, and it has significantly improved the company’s own level of dividends (3.

The corresponding closing rate of 21 closing price increased to 5.

3%), under the expectation of maintaining a high dividend for a long time, the company may rank as the target of life insurance.

Upgrade from buy to buy rating, increase 2019-20 profit forecast, add 2021 profit forecast.

The company implements the group entity two-wing strategy. The company has nearly 150 billion high-quality residential + commercial land reserves, and the first and second tiers account for 90%.

The quality of the company’s assets is high, the severity of the market is underestimated, the merger management thinking is actively changing, and the leverage ratio is expected to increase and improve the ROE level.

It is expected that the net profit attributable to the parent company in 2019-21.


5/40.0 million yuan, a year growth rate of 15.

8% / 20.

1% / 19.


The corresponding EPS are 0.



07 yuan (originally expected to return to mother net profit for 2019-20 is 27.



The current price corresponds to PE.

6X, 5.

5 times, 4 times.

6 times.

Comparable PE for 2019 is 7.

46 times, considering that the company ‘s core cities have higher rental income from property holdings, the estimated premium for a certain copyright is reasonable and reasonable, while the RNAV estimate is 13.

34 yuan, a discount of 63%. Based on the estimates of comparable companies and RNAV, we give a target price of 6.

9 yuan, 41% upside.

Risk reminder: The market ‘s downside exceeds expectations as the adjustment policy is not relaxed, and the company’s development progress is gradually expected

Beware of female friends: greedy cold food is easy to get fat


Beware of female friends: greedy cold food is easy to get fat

In the summer, many female friends will be greedy and eat a lot of cold drinks, such as iced drinks, iced watermelons, ice cream ice cream, etc., although the coolness of the solution, but I do not know that this will damage health, and will cause many hope to lose weight.A friend’s weight is high, and even a small amount of food is stubborn.

銆€銆€Iced foods are not because the drinks are too sugary, or the watermelons tend to get fat. Ice creams contain trans fatty acids, but because they all have the same characteristics and are very cool.

It is this cold that causes problems in our spleen and stomach. Of course, there are many reasons for the weakness of the spleen and stomach. Similar to the weakness of the physique, the irregular diet, overeating, etc., but greed is itself.

In this year’s survey of obese women, 76% of women had symptoms of spleen and stomach weakness, and 48% of them were due to irregular diet and often eat a lot of cold food.

銆€銆€Speaking of this, maybe many people don’t understand, it seems to have nothing to do with excessive.

銆€銆€In fact, the most direct relationship between spleen and stomach and obesity, if the spleen and stomach function is strong, weight loss can be said to be arbitrary, and the spleen and stomach are also related to health or not.

銆€銆€Some people say that my appetite is very good, and I love everything. Can this be said that my spleen and stomach are weak?

I can only tell you that this is “stomach strong spleen deficiency”, that is, can eat but not digest.

The stomach is the organ and the spleen is the transporting organ.

Transport also contains the meaning of “transport” and “chemical”. “Chemical” is the transformation of the diet in the gastrointestinal tract into nutrient-staining micro-substance. “Transport” is to transport these nutrients to the whole body to produce the body’s blood.
Sometimes, although we have eaten a lot of things, the ability of the spleen to “chemicalize” is too weak, and we are unable to turn food into nutrient essence. It just accumulates in the body. When our body needs energy, they will not turn into blood for us.Use, on the contrary, will prevent us from generating new blood.

Over time, the excess meat accumulates the position of normal muscles, and the turbid blood stagnates the space of fresh blood, so that our blood and blood energy cannot be generated, no way to consume, causing the body to become fatter and even eat less.Things can’t lose weight, or they have little effect.

銆€銆€Many people lose weight around the food, and they can’t lower the dispersion of food. They can calculate the food every day carefully. They are afraid that the orientation of the food is high, and they worry that the change of this day will exceed the standard.

However, this method may be effective for people with excessive dietary intake and high levels of vitamins, but at the same time many people have suggested to me why they do not eat much, but the weight is not reduced?

銆€銆€This is because the main diet is not noticed, and there are many people with problems in the spleen and stomach.

Even if you eat less, the waste piled up in the body, a few can not decompose and replace the body by itself, while eating too little is only in the decomposition of the body, there is only a little blood reserve, the normal muscles are broken down to provideThe normal operation of the human body, at this time you will find that the meat on the body is more relaxed, the skin is dull, and even fine lines appear, the physical strength is not as good as before.

If you return to a normal diet, your weight will rebound quickly and be more than the original.

銆€銆€At this point, if you want to really lose weight, you can only start from conditioning your spleen and stomach, but without professional guidance, I am afraid that it is difficult to complete it easily. If you choose improperly, it will only make your body gain weight and even have symptoms such as liver disease.

銆€銆€In summer, the human body temperature is very high. People often want to take an ice block and swallow it when they are sweating. So they eat a lot of iced watermelons, cold drinks, ice cream, etc., so that the stomach is strongly cold.Stimulation causes the stomach to shrink sharply. The blood vessel wall of the implant will suddenly close and contract, causing a swell and stimuli. If you eat hot food and drink iced drinks, beer will aggravate this situation.Over time, it caused damage to the spleen and stomach, and there were symptoms of spleen and stomach weakness.

銆€銆€If you don’t feel chilly, if you want to recover, you can’t do it overnight.

銆€銆€Whether the spleen and stomach are healthy determines whether our body is healthy. Think about it. We rely on the nutrients of food to supply human nutrients to work normally. If the food we eat is not properly absorbed by the body, it will accumulate like garbage.Naturally, it causes a variety of diseases. It can also be said that the spleen and stomach are our “foundation” and “the source of qi and blood biochemistry”. Only popular blood is rich, we will reserve for disease prevention and treatment.Excessive energy, ruddy complexion, full of energy, people will look more spiritual and healthier!

銆€銆€Therefore, even if the summer is very hot, you should pay attention to let yourself disperse the body temperature, and then eat a little cold food, and should not eat too much, the original spleen and stomach is not very good, not only does not recommend eating cold food, it is also recommended to eatWarm-filled foods can be eaten hot in the summer, such as brown sugar water, which can be placed at room temperature.

Overcome self-esteem and build self-confidence


Overcome self-esteem and build self-confidence

Inferiority is widespread in real life, perhaps because some extremely small things can make a person’s mood low, self-confidence to lose their essence, and self-esteem for life.

Inferiority is mainly manifested in the low evaluation of one’s own ability, quality and other qualities; psychological endurance is weak; can not afford the alternative stimulation; be cautious, more sentimental, often causing doubts.

Behaviors cringe, look ahead and so on.

The main psychosocial self-negative of inferiority is extremely suggestive. Its formation can be accidental or existable. Because inferiority has a great impact on oneself and society, it should be self-reflective and consciously enhanced through exercise.Your own self-confidence.

銆€銆€The establishment of self-confidence is far from the formation of inferiority. It requires a relatively relative cycle to complete.

Therefore, in the stage of enhancing self-confidence, we must have a certain perseverance, and we must not quit halfway and make quick success.

Don’t think that you are incurable, because there is no absolute impossibility in the world. As long as you work hard, nothing will stump yourself.

銆€銆€Overcoming inferiority mainly starts from two aspects, and is included in itself.

Efforts to eliminate the root causes of inferiority, improve their own strength, and thus improve the level of self-confidence.

The other is others.

Taking others’ evaluations and attitudes as the main criteria for self-evaluation, using other people’s evaluations and attitudes to adjust their behaviors, so as to achieve the purpose of improving self-confidence.

銆€銆€On its own side: Treat failures correctly.

It is a very normal phenomenon for everyone to suffer from temporary setbacks and even failures due to knowledge and limitations of experience.

In a person’s life, it is impossible to have a smooth sailing. In doing so, it is necessary to conscientiously sum up the lessons and lessons in order to benefit the “re-war” and to be normal, not to be defeated by failure.

銆€銆€Enhance self-confidence.

Everything has the confidence to win, and full self-confidence is the best way to get rid of inferiority, because self-confidence makes you more successful.

However, on the basis of self-confidence, there must be a 鈥渞eporting level鈥?that suits your actual situation.

Too low to stimulate the fighting spirit, too high to ignore the failure.

銆€銆€Promote strengths and avoid weaknesses.

Everyone has their own strengths and weaknesses. They must evaluate themselves comprehensively and correctly. They are not complacent about their strengths, and they should not focus on their shortcomings and take care of themselves.

Be good at discovering and tapping your own strengths to make up for your own shortcomings.

銆€銆€Others: Focus on instrumentation.

People are clothes horses are saddles, good instruments will bring good feelings to themselves, your good mood will infect others to make others happy, others will also react to you and form a benign cycle.

銆€銆€Promote yourself.

Boldly show yourself to others and let others know about you.

Make friends.

The care of a friend will make you feel warm, and the praise of a friend will increase your confidence.

Being a friend is like having a mirror. Being a friend is like re-shaping a self.

The exchanges between friends will inadvertently give you the inspiration for life. At the same time, a confident and good friend will take you to the alternating of self-confidence.

Confidence is not equal to self-important self-improvement, don’t give inferiority a beautiful lie that “does not want to show off the limelight.”

According to what selective love posture?

According to what selective love posture?

The sexual life of a fish is to learn from both men and women.

When is the attitude to adopt, it is also learning.

Choosing the right posture correctly can not only increase your fun, but also 鈥渄o it鈥?healthier.


hzh {display: none; }銆€銆€瀹滅敺涓婂コ涓嬬殑鎯呭喌銆€銆€鐢辨柤涓嶅悓鎬т氦濮垮娍鍚勬湁鐗瑰埆涔嬪锛岀敺濂冲彲鍥犲簲褰兼涓嶅悓鎯呭喌锛屾敼鍙樻€т氦濮垮娍銆傘€€銆€Newly married women may be more passive, and if the woman’s sexual experience is insufficient, the traditional male style is appropriate.

銆€銆€If you want to become pregnant, it is better to use a man and a woman. It is best to raise the woman’s buttocks so that the semen is stored in the uterus and tilt backwards. It is best to use the knee and chest position to help the semen flow to the endometrium.

銆€銆€The situation of the laterally ill position is old and sick: sick, old, fatigue, high and uncoordinated, etc., can be used in the lateral position, which is the most labor-saving position.

銆€銆€There are waist patients: the amount of activity is reduced and labor-saving, to avoid the old problems caused by excessive movement.

It is best to use the woman’s knee chest position, the man’s previous position.

銆€銆€Suitable female or female follow-up is helpful for the treatment of multiple sexual dysfunction, such as impotence, premature ejaculation and female sexual sensation.

銆€銆€Pregnant women should avoid direct weight on the abdomen during sexual intercourse. If the woman is lying on her back, the man can take a seat or a seat, or use a backward movement.

銆€銆€Women with low back pain use women to go to the law.

When the man is in the back, the man should bear the weight with his elbows and his knees to avoid pressing the whole weight on the woman.

The man has low back pain, the woman’s knee and chest position, the man standing.

銆€銆€Obese people, especially those who are obese on both sides, can use the woman’s supine position and place the buttocks at the bedside, and the man stands.