Zhengbang Technology (002157) 2019 Interim Report Performance Preview Comment: 2019Q2 Turnaround Losses, Focus on the Development of Pig Breeding Business

Zhengbang Technology (002157) 2019 Interim Report Performance Preview Comment: 2019Q2 Turnaround Losses, Focus on the Development of Pig Breeding Business

Matters: The company releases semi-annual performance notice: the net profit attributable to mothers will decrease.

5 ppm-2.

800 million.

Comment: 2019Q2 turned a loss on a month-on-month basis, and the cost of pig farming is under control.

From January to June 2019, the company expects net profit attributable to mothers to increase by 2.

5 ppm-2.

80,000 yuan, of which, in the second quarter of 2019, net profit attributable to mothers1.

64 ppm-1.

94 trillion, exceeding market expectations.

The total number of companies in Q2 2019 was 140.

60,000 heads, with an average sales price of 14.

At about 6 yuan / kg, the weight of the slaughtering is about 115 kg. We initially estimated that the full cost of the company’s breeding is about 14 / kg, which was 12 before the occurrence of non-blast.

With a full cost of 5 yuan / kg, the company’s hog breeding cost can be controlled.

The company transferred assets + increased capital and focused on the development of pig breeding business.

The company intends to transfer 100% of Jiangxi Zhengbang Crop Protection Co., Ltd. to Jiangxi Yonglian (held by Mr. Lin Yinsun, the actual controller of the company), with a total transfer price of 13.

13.7 billion.

The purpose of this equity transfer is: the company will concentrate resources, focus on building the pig breeding industry chain, and improve the competitiveness of the industry.

Jiangxi Zhengbang Crop Protection achieved net profit in 20181.

One trillionth, this distribution transfer price-earnings ratio is about 12 times, consistent with the acquisition of the property rights of pesticide targets by similar listed companies since December 2018; until March 31, 2019, Jiangxi Zhengbang Crop Protection has net assets4.

1.5 billion yuan, the equity transfer price ratio reached 3.

2 times; the distribution price-earnings ratio and price-to-book ratio for this distribution are reasonable.

In addition, the company plans to invest 1 billion in Jiangxi Zhengbang Breeding Co., Ltd. with its own funds. After the capital increase, the registered capital of Zhengbang Breeding will be increased from 6.

6 ‰ increased to 16.

600 million US dollars, this capital increase is also to promote the development of aquaculture business, enhance the overall operating strength and financing capacity, as the basis for the subsequent development of Zhengbang aquaculture.

The logic of hitting a new high for pig prices across the country has entered the redemption period.

The first severe outbreak occurred in the six provinces of Northeast, Shandong, Henan, Jiangsu, Hebei, and Anhui. It took about 5 months for the pig prices in each place to drop to the lowest level. The second severe outbreak occurred in Guangdong, Guangxi, and Yunnan.It took only about 2 months to reach the bottom, and the decline in pig prices was significantly weaker than the first wave; the third wave of severe epidemics appeared in Sichuan, Hunan, and Hubei, but only caused the national average price to fall slightly in the short term.Prices have stabilized and picked up.

The top ten provinces currently account for 66 of the country’s total pig production.

1%, from high to low, Sichuan, Henan, Hunan, Shandong, Hubei, Yunnan, Hebei, Guangdong, Guangxi, and Jiangxi.

As of now, in general, all major pig producing areas have experienced the baptism of African swine fever, and the production capacity in various places has been clearly cleared. The logic of setting a new high for the national pig price has entered the redemption 深圳桑拿网 period.

Earnings forecasts, estimates and investment ratings.

The non-plague-prone pig breeding industry has greatly reduced capacity, and we expect pig prices to rise to 25-30 yuan / kg before the Spring Festival next year.

Because the development of non-blast vaccines is difficult to achieve overnight, and the establishment and improvement of the pig safety system requires the financial strength of the farm scale, the price of pigs is expected to remain high for a long time, and the advantages of large pig breeding groups are prominent.

We maintain that we expect the company to produce 7 million pigs, 8.4 million pigs, and 10.8 million pigs in 2019-2021, corresponding to a revenue of 255.

7.5 billion, 353.

01 ppm, 390.

9.3 billion, corresponding to net profit attributable to mother 9.

94 ppm, 89.

700 million, 96.880,000 yuan, an increase of 414%, 802% and 8% each year, corresponding to zero income.

42 yuan, 3.

78 yuan, 4.

08 yuan.

The company’s profit high is expected to be reached in 2020. The hog sector is more than 10 times the PE at the high point.

8 yuan, maintaining the “strong push” level.

Risk warning: pig prices fall sharply; disease.

Seagull Living (002084): Acquisition of Jaco Polo completes expansion of custom kitchen business

Seagull Living (002084): Acquisition of Jaco Polo completes expansion of custom kitchen business

Event: The company issued an announcement “Announcement on Acquiring the Equity of Guangdong Yacopolo Cabinet Co., Ltd. to Complete the Industrial and Commercial Change Registration and Obtain a Business License.”

In April 2019, the company and Guangzhou Marco Polo Co., Ltd. held a transaction with other counterparts on the “About Guangdong Yaco Polo Cabinet Co., Ltd. Partial Equity Acquisition and Capital Increase Agreement”, and the company will transfer Guangzhou Marco Polo Co., Ltd. to hold GuangdongJaco Polo Cabinet Co., Ltd. 42.

98% equity. At the same time, the company will hold Jaco Polo 67 by increasing its capital to Jaco Polo.

27% equity.

Recently, Jaco Polo completed the assignment of industrial and commercial changes and received the “Business License” issued by the Guangzhou Baiyun District Market Supervision Administration. The company directly holds Jaco Polo42.

98% equity.

Opinion: The combined land leading supply chain that Jaco Polo cut into has a low acquisition price.

Jaco Polo currently has a factory of 80,000 square meters, with an annual throughput of 100,000+ units; an intelligent production base covers an area of nearly 300,000 square meters, and an estimated annual production capacity of 600,000 units.

At present, Jaco Polo has become a supporting partner for hardcover housing projects of many well-known real estate group companies in the country, serving Evergrande, Yuexiu, Poly, R & F and other large national real estate companies.

The transfer price of the equity transfer for this acquisition is divided into two parts: (1) calculated according to the evaluation report issued by the asset appraisal agency, which is 11.46 million yuan; (2) performance commitment consideration, that is, in terms of performance commitment, if Acopolo achieves net profitIf it is not less than 18 million yuan, the transfer price is 12.1 million yuan.

Extend service space and expand custom kitchen business.

After the completion of the acquisition, the company 西安耍耍网 will integrate design, production, sales, installation and maintenance of one-stop service platform for custom cabinets through Jaco Polo, extend the bathroom components to the kitchen space, and lay the foundation for the company’s future expansion of the customized overall kitchen business.This foundation.

Earnings forecast and estimation: The company’s EPS is expected to be 0 in 19-21.

22, 0.

27, 0.

33 yuan, corresponding PE is 22X, 19X, 15X.

Maintain “Buy” rating.

Risk warning: trade frictions intensify, and the overall bathroom business is less than expected.

Zhongke Sanhuan (000970): What is the strategic significance of investing in Southern Rare Earth?

Zhongke Sanhuan (000970): What is the strategic significance of investing in “Southern Rare Earth”?

Report Summary: Southern Rare Earth is the country’s largest medium-to-heavy rare-earth production company, with all 45 mining licenses in Jiangxi Province, and rare earth mining indicators3.

78 cobalt, accounting for 31.

5%.

The company and China Southern Rare Earth Group have a short-term “Letter of Intent for Cooperation”, which plans to hold a 5% equity in Southern Rare Earth through capital increase and share expansion to obtain a stable supply of excess raw materials at the best market price.

The two parties plan to jointly invest in a high-end rare earth magnetic material project in Ganzhou’s “Rare Golden Valley” and jointly establish a comprehensive sintered neodymium-iron-boron production company with a capacity of 5,000 tons / year, of which Southern 北京养生会所 Rare Earth accounts for less than 34% of the shares.

Within 5 years after Zhongke Sanhuan took a stake in Southern Rare Earth, Southern Rare Earth no longer accepted other rare earth permanent magnet companies as shareholders of Southern Rare Earth.

After the completion of the transaction, the company is the second largest shareholder of the group and the only permanent magnetic material company in the market with medium and heavy rare earth resources.

Heavy rare earth is irreplaceable in permanent magnet materials for new energy vehicle drive motors, and there is continued upward price momentum.

With the advancement of leaky radon technology, the amount of heavy rare earth has been replaced from 5% to less than 1%. However, the driving performance of new energy vehicle motors has higher requirements for magnetic 北京夜网 properties at high temperatures, and the use of heavy rare earths is indispensable.

A rough assumption is that if the global output of new energy vehicles reaches 20 million units in the future, based on a 3 kg dose, the total permanent demand will increase by 6, 镝, 镝 according to 3% and 0.

Based on the 5% consumption calculation, the increase in demand for plutonium and plutonium is 1,800 tons and 300 tons. The existing supply may overlap, and the company’s strategic layout of heavy rare earth resources is prominent.

It is planned to hold 5% equity of Southern Rare Earth, and the increase in the price of rare earth will increase the company’s potential investment income.

Southern Rare Earth Group has a rare earth mining index in 20183.

78. According to the 5% distribution of europium element in the medium and heavy rare earth resources, the theoretical index output is about 1890 tons, and each increase of 10 million tons per ton of europium and europium element corresponds to a theoretical increase of 1.
.

8.9 billion U.S. dollars, based on the company’s 5% shareholding, the theoretical increase in the profits of the China Science and Technology Third Ring Company was 9.45 million yuan.

In addition, if Southern Rare Earth seeks to go public in the future, it is expected that the company’s financial investment income will be considerable.

Profit forecast and investment suggestions: It is expected that the company’s net profit attributable to the parent from 2019 to 2020 will be 2 respectively.

71, 3.

80, 6.

03 ppm; EPS is 0.

25, 0.

36, 0.

57 yuan, with a daily corresponding P / E of 43X, 30X, 19X on May 20, 2019. We are optimistic about the company’s resource layout in Zhonghe Rare Earth. New energy vehicles give a “buy” rating for permanent magnet materials.

Risk reminder: weak macroeconomic growth, new energy vehicle development is less than expected

[What bread does not gain weight]_eat bread_how to eat

[What bread does not gain weight]_eat bread_how to eat

Now more and more teenagers like to stay at home during their breaks. They do n’t go out all day and buy online what they need, which has led to the rise of the fast food industry.

Many times people choose to eat some simple and convenient foods when the schedule is tight, such as instant noodles, bread, etc., but these foods are very high, and the most wanting people to lose weight is to eat what bread does not gain weight.

I. Overview Weight loss is a topic that many people are very concerned about. Now is an era of looking at the face, more and more people are beginning to know their appearance.

The temptation of food is difficult to resist. If you accidentally eat too much, you will grow meat, especially for people who lose weight. The daily diet is very important.

But what do I do when I really want to eat bread?

Or are some of the misunderstandings you have experienced?

So we need to know the calories of bread and how to eat bread.

Second, steps / methods: 1. Some common breads are actually very high in calories, so it is best for people who lose weight to avoid them and never eat more.

For example, pineapple buns, hot dog buns, donuts, etc., the little one has two or three hundred calories.

And a series of relatively opposite are whole wheat bread, French bread and so on.

2, yeast bread is also a good choice, it replaces the traditional bread thick oil, heavy sugar formula, made with fruits, raisins or just fermented, belongs to low sugar bread.

Grain breads such as whole wheat are very popular today. A variety of grains are relatively healthy and prone to fullness, which is suitable for people who lose weight.

3. In addition, the method of eating bread is also very important. If you surround the misunderstanding, you cannot lose weight.

For example, many people like thick jams on bread, so the conversion is very large.

And although some breads have calories, they should not be eaten too much.

Third, note: It can be seen that if people who lose weight still have to pay special attention to the type of bread and the way to eat bread, get out of the misunderstanding as soon as possible.

And no matter what kind of bread is still not a substitute for staple food, you can only eat it properly in your free time.

[Ten factors of sex life disharmony, ten elements are extra points for sex]

[Ten factors of sex life disharmony, ten elements are extra points for sex]

The disharmony of sexual life between husband and wife will affect the relationship between husband and wife.

Why sex life is not harmonious, it turns out that the taboos of husband and wife intercourse are bothering, what are the taboos of husband and wife intercourse?

What can be done to promote perfect sex?

Let ‘s learn about it together!

10 taboos for husbands and wives to avoid sexual intercourse: some serious sexually transmitted diseases, and doctors have issued consultations to not have sexSex, sex life should also be avoided, especially for certain sexually transmitted diseases, and even less sexual life.

It is not the victim who is having sex with a sick person. Some diseases will be transmitted to loved ones through the sexual organs, which should be avoided.

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[The practice of Xiafan sour and sweet carrots]_The common practice of Xiafan sour and sweet carrots

[The practice of Xiafan sour and sweet carrots]_The common practice of Xiafan sour and sweet carrots

Food is vital to our body, and it is closely related to our lives.

A good diet can extend your life.

On the contrary, a bad diet can take away our precious lives.

So we should learn to cook. Xiaobian will introduce the sweet and sour carrots for everyone.

1.

Carrot, pepper, starch, ginger, shallot, vinegar, soy sauce, pickled pepper, sugar, salt 2.

12 starch, ginger, spring onion, vinegar, soy sauce, sugar and water to make a juice 3.

21 Add oil to fry the carrots and soften them. Be sure to add more oil. Because carotene is a fat-soluble substance, it can be absorbed well only in fats.

Add salt to plate 5.

Add oil and stir-fry the pickled peppers, and the red oil will burst out 6.

Pour in the prepared juice and boil 7.

Pour the fried carrots and peppers and stir well. 8

Out of the pot, I believe that after reading the introduction of the sour and sweet carrots in rice, you will find that in fact, this dish is not difficult to prepare.

Of course, you still have disadvantages for the first time, but try a few more times to make the most delicious one.

[How can contraception be safe]_Contraception_How to contraceptive_How to contraceptive_Contraceptive measures

[How can contraception be safe]_Contraception_How to contraceptive_How to contraceptive_Contraceptive measures

Confidently speaking to young people today is certainly not strange, because now life is becoming more and more open, and there are more and more contraceptive methods, many contraceptive methods will not bring to our bodyInconsistency, the effect of self-confidence is greatly improved at the same time, some inappropriate contraceptive methods in life will bring some gynecological diseases to women, so how can you safely contracept?

Women of normal childbearing age come to menstruation once a month, from the beginning of this menstrual period to the first day of the next menstrual period, which is called a menstrual cycle.

From the perspective of contraception, each menstrual cycle of women can be divided into menstrual period, ovulation period and safe period.

In fact, normal adult women shed only one egg per month.

The egg can survive for 1 —- 2 days, and the sperm can survive in the female reproductive tract for 2-3 days. The fertilization capacity is mostly within 24 hours after ovulation, and the sperm is lost after 2-3 daysThe ability of the egg to bind.

Therefore, if you have sexual intercourse 2 to 3 days before ovulation and 1 to 2 days after ovulation, it is possible to conceive. This period is called the easy pregnancy period or dangerous period.

Women’s ovulation date is usually about 14 days before the next menstrual period.

For the sake of insurance, we will refer to the first 5 days and the last 4 days of the ovulation day, plus 10 days inside the ovulation day as the ovulation period.

The rest of the time other than the menstrual period is called the safety period.

The safety period is divided into the safety period before ovulation and the safety period after ovulation.

The period from the day when menstruation is clean to the day before ovulation begins is the pre-ovulation safety period.

The post-ovulation safety period is from the first day after the end of the ovulation period to the day before the next menstrual period.

The post-ovulation safety period is safer than the pre-ovulation safety period.

This is because some women are sometimes affected by environmental changes and emotional fluctuations to advance ovulation, so that the safety period before ovulation changes, and they do not know that the safety period before ovulation is not very safe.

The chance of the ovary to ovulate twice in a menstrual cycle is very rare, that is, the second ovulation usually does not occur during the period from ovulation to the next menstrual period, so the safety period after ovulation is safer.

The key to using self-confidence in the safety period is to determine a woman’s ovulation date.

Ovary ovulation usually does not have a special feeling, and even some women may have symptoms such as lower abdominal pain, backache, breast swelling and mood changes, but these phenomena are not specific to ovulation, so they cannot be used as a basis for ovulation.

Menstruation and ovulation change, and there is a close relationship between each other. If you master the change rule, you can determine the ovulation date by indirect methods.

There are many ways to determine the date of ovulation, and women can master the methods themselves: estimation based on the menstrual cycle, measuring the basal body temperature, and observing cervical mucus secretion.

The above is an introduction on how to use contraceptives safely. The correct method of contraception will ensure your own health. Therefore, many men are now more concerned about contraceptive methods. Women should not be too panic if they have an unwanted pregnancyIf conditions permit, it is best to be born, otherwise abortion is very harmful to women.

[One month effective weight gain recipe]_Fertilizing_Method

[One month effective weight gain recipe]_Fertilizing_Method

In life, many fat people will grow meat because they drink cold water and feel upset. At the same time, many acquaintances feel anxious about their weight. Their constitution may be weak and they cannot absorb any food.Can’t grow, especially women who are preparing for pregnancy. If the child who is underweight is likely to have malnutrition, what are the weight gain recipes that work in a month?

1. Chestnut Chestnut contains a large amount of starch, and its purity is very high. In addition to starch, chestnut also contains protein, trace amounts and vitamin B family.

There is also 24 mg of vitamin C in 100 grams of chestnuts, which is much more than the same amount of tomatoes.

Eating chestnuts after each meal can enhance the absorption shift of the body.

2. Beef When it comes to weight gain, red meat is the best food.

It contains both the proteins needed for muscle growth, as well as natural creatine and rich iron.

I suggest that you can choose the meat quality of some parts such as hind leg meat, tenderloin, etc., which contains higher protein.

3, squid squid has a very high cholesterol content, every 100 grams of squid contains 615 milligrams of cholesterol, so eating squid can help the body gain weight.

In addition, squid also contains various elements such as calcium, phosphorus, and iron, which help the development of bones and blood in the body.

Eating squid can prevent anemia, relieve physical fatigue, improve liver function and protect eyesight.

Squid is a healthy fattening food.

4. Eating one or two dried fruits can quickly add calories to the body.

Dried fruit is smaller than fresh fruit, so half a cup of dried fruit has more calories than fresh fruit.

For example, a cup of raisins contains 200 calories, while a cup of fresh grapes contains only 60 calories.

5. Milk dairy products contain proteins that digest slowly, so they can provide the body with stable amino acids for hours.

A cup of 227g skim milk contains 8g of protein, as well as vitamin D and calcium. These two important ingredients maintain bone health, muscle strength, and muscle growth.

[Efficacy of Jujube Lianzi Tremella Soup]_Benefits_Effects

[Efficacy of Jujube Lianzi Tremella Soup]_Benefits_Effects

Tremella, red dates, and lotus seeds are common things that we usually use, but the nutritional value of these kinds of things is very high. Both Tremella and red dates have the effect of nourishing blood and qi, especially after eating Tremella, it has beauty and beauty.For many people who love beauty, it is even more fascinating. Jujube Lianzi Tremella Soup is also something we usually like to drink. The following introduces the efficacy of Jujube Lianzi Tremella Soup.

Efficacy of Jujube Lianzi Tremella Decoction 1. Chinese medicine classifies jujube as an invigorating medicine, which is called Ganping, has cardiopulmonary, cough, nourishing the five internal organs, and functions of treating deficiency. It has weak peristalsis due to poor perfusion function.And poor digestion and absorption, it is very suitable to eat red dates often to improve poor stomach function and gain strength.

When you are nervous, upset, disturbed in sleep or general menopausal syndrome, traditional Chinese medicine prescriptions are often supplemented with red dates, mainly red dates have a sedative effect. Therefore, if you have a stressful life, you may wish to add some red dates with the main dish soup.

The content of vitamin C in red dates is high.

2. Tremella has the effects of nourishing yin, nourishing the lungs, nourishing the stomach, nourishing the body, nourishing qi, nourishing the brain, and strengthening the heart.

Not only suitable for all women and children, those who are physically weak after illness, and has a good skin rejuvenation effect for women.

3, lotus seeds are beneficial to the heart, nourish the kidneys, relieve diarrhea, solidify the essence, soothe the nerves.

It is understood that the sweet soup of Tremella fuciformis jujube soup has the functions of nourishing yin, moisturizing the lungs, nourishing the stomach, regenerating qi, nourishing qi, invigorating the brain, and strengthening the heart. It is generally edible and suitable for people.All women and children, those who are physically weak after illness, and have a good skin rejuvenation effect on women.

When is the best time to eat lotus seed white fungus soup?

Generally suitable to eat in summer, drink a bowl before going to bed, for not too much beauty, lotus seed white fungus and red date soup can be described as a good beauty, but it should not be eaten at night, it has a lot of sweet taste to avoid affecting the figure.

If you are afraid of getting fat, just eat it on an empty stomach in the morning, so that the effect of nourishing yin and beauty can be more effective.

In addition, it is also recommended to drink before meals, this is better, and easier to be absorbed by the stomach.