Xiamen Tungsten (600549): Battery material business achieved profit in Q3 and Q4 profit improved significantly month-on-month

Xiamen Tungsten (600549): Battery material business achieved profit in Q3 and Q4 profit improved significantly month-on-month

The event company issued a performance forecast and realized revenue in 2019. Net profit attributable to mothers and net profit attributable to non-mothers were 174 and 2, respectively.

66 and 1.

US $ 2 billion, a year-on-year decrease of 11%, 47%, and 67% respectively. This comment is as follows: A brief review of the company’s net profit attributable to its mother is mainly due to the tungsten and molybdenum sector dragging the company’s total profit for 2019 to 5.

US $ 6.4 billion, an average of 43% over a ten-year period, mainly due to the significant increase in profits of the tungsten and molybdenum sector.

Of the company’s four segments, only the tungsten and molybdenum business increased margins, and the remaining three segments brought improvements.

The tungsten and molybdenum business is expected to maximize profits in 20192.

37 trillion, down 77 a year.

44%; Although the battery business is affected by the price of raw materials, the overall profit growth, but benefit from the expansion of the scale, government subsidies and research and development costs plus substitution and other policies, the profit is expected to reduce.

28 ppm, an increase of 38 per year.

37%; the rare earth business benefits from rising prices and is expected to maximize profits1.

1.8 billion US dollars, previously turned losses into profits; real estate business realized a cumulative profit growth of 0.

800 million, turned losses before.

Lithium-ion materials business: Turning losses in the third quarter, and the fourth-quarter earnings improved significantly. The company’s battery materials include lithium-ion materials and hydrogen storage alloys, of which lithium-ion material production capacity.

6 trace amounts (including ternary, lithium cobaltate, lithium manganate and lithium iron phosphate, etc.).

18 and 19 Q1 lithium ion materials sales were 2 respectively.

5 and 0.

The average value is 7 and the average quality is 32.

5 and 230,000 yuan / ton, 19 years of H1 battery materials realized revenue and gross profit of 3.4 billion and 2 respectively.

63 trillion, of which Xiamen Tungsten New Energy realized revenue and net profit of 33 trillion and -0, respectively.

The company’s downstream customers are large domestic companies with long-term cooperation and have high customer stickiness. The company’s H1 sales volume in 19 years has continued to grow, replacing direct decline in the price of cobalt, the company’s main raw material for lithium ion materials, which has driven product prices down. Since Q3Cobalt prices rebounded, and the battery materials business has achieved profit. The company’s Q1-Q4 battery material profit margins in 2019 were -0.

42 trillion, -0.

10,000 yuan, 0.

2.6 billion and 1.

4.5 billion (maximize profits in 20191.

USD 2.8 billion, an annual growth rate of 38%). In the future, the supply of cobalt industry will improve and demand will increase. The price of cobalt is expected to continue to rebound.

In 2019, the tungsten price experienced a V-shaped market, which caused the company’s tungsten and molybdenum plate profit to drop sharply. The company’s tungsten and molybdenum plate business profit growth fell by 77%, 杭州夜生活网 mainly due to the decline in tungsten price and the consolidation of the company’s beginning high price inventory.

The company’s APT inventory at the beginning of 2019 was 1,519 tons, which was a crack increase compared with the beginning of 2018.

In 2019, the tungsten industry as a whole showed a V-shaped trend, and the early tungsten concentrate price was 9.

550,000 / ton, close to a high point, the company’s initial inventory price is at a higher position.

In the first half of the year, affected by two factors, including weak downstream demand and pan-Asian inventory auctions, the price of tungsten concentrates fell sharply in June, falling to a minimum of 7.

10,000 / ton, fell below the mainstream mine cost line.

Later, after the Pan-Asian inventory was auctioned, the market rebounded short-term and the tungsten concentrate price rose to 9.

20,000 / ton, slightly down at the end of the year to stabilize at 8.

70,000 / ton.

The average ten-year price of tungsten concentrate in 2019 is 8.

750,000 / ton, which is 17% higher than the average price in 2018.

56%.

The company’s annual output of tungsten concentrates in three mines in 2018 was 1.2 Nominal (Luoyang Yulu shares account for 60%), second only to Minmetals.

Affected by the decline in tungsten prices, the company’s tungsten molybdenum sector’s earnings were severely damaged.

At present, after the Pan-Asian inventory is auctioned, the suppressive effect of inventory factors on tungsten prices has basically been eliminated.

The downstream demand level is mainly due to the decrease in demand for cemented carbide rods, while the main application areas of cemented carbide rods are in automobiles and 3C consumer electronics.

At present, there is a trend in automobiles; benefiting from the emergence of 5G, the margin of 3C consumer electronics demand has improved, and tungsten prices are expected to pick up in 2020.

The downstream demand for tungsten products has been boosted. As the domestic industry leader, the tungsten and molybdenum segment business is expected to improve significantly.

The investment proposal estimates that the company’s EPS in 19-21 will be 0.

19 yuan, 0.

26 yuan and 0.

46 yuan, corresponding to the current sustainable PE is 69.

2 times, 51.

0 times and 28.

Three times, considering the company’s industry level, the company is given a “Buy” rating with a six-month target price of 16.

97 yuan.

A stock is expected to enter a period of rational consolidation after bottoming out_1

A stock is expected to enter the period of rational consolidation after bottoming out

For stocks, please read Jin Qilin analyst research report, authoritative, professional, timely, and comprehensive, to help you tap potential potential opportunities!

  After the original title bottomed out and rebounded, A-shares are expected to enter a period of rational consolidation. Wang Youruo ○ Editor Sun Fang Year of Trading, the A-share market has shown a strong possibility.

Eventually it closed on Friday, and the ChiNext index rose 4% throughout the week.

57%, both recovering lost ground and setting a new stage high; the Shenzhen Stock Exchange Index only fell slightly.

66%; Shanghai Composite Index closed down 3 weeks.

38%.

  After experiencing the short-term impact of the epidemic, with the resumption of work starting this week, how will A shares behave?

  The institutional view is that the core variable that determines the short-term risk of the market is still the epidemic, 北京夜网 but investor sentiment tends to stabilize, and the “trading period” in which market style resets oversold rebounds enters into a gradually rational “allocation period”.

At the same time, as for the future leading line of A-shares, many securities research institutes agree that the technology sector is still a direction worthy of focus.

  The market enters a more rational consolidation period. For the future market trend, CITIC Securities is maximally optimistic and believes that the low point of the index last week has fixed the market bottom in 2020.

This is because: first, the epidemic has only a one-time pulse effect on the market and fundamentals, which has gradually become a consensus; second, short-term changes are behind the timely and comprehensive expected management of policies; and again, loose macro 北京夜网 liquidityOfficial estimates estimate that there will be no recurrence in the short term; in the end, the risks of “two financings” and equity pledge are manageable, and the risk of forced selling is low.

  CITIC Securities’ proposal, the core variable that determines the market’s short-term risk appetite, is still the epidemic, and the market focus resets the pulse of the epidemic to the evolution of the epidemic and resumes work after the holiday.

However, investor sentiment is expected to stabilize, and the market volatility will also become smaller. The “trading period” in which the market style resets oversold rebounds becomes a gradually “rational period”.

  China Merchants Securities Zhang Xia (Jin Qilin analyst) strategy team also said that starting on February 10, various industries across the country will resume work.

In the short term, the market will go from a huge shock to a narrow shock or a shock upward, and the conversion rate will obviously decline.

At the industry level, TMT will shift from one side to the next, and TMT will shift to a new pattern of differentiation.

  Haitong Securities’ Yu Yugen (Jin Qilin analyst) strategy team judged that the gradual market decline is sufficient from a spatial perspective, but it still needs time to fully adjust after the sharp decline.

The market needs to wait for the turning point of the epidemic to rise again and be supported by subsequent fundamental data.

  The current ammunition accumulation of A shares: Since February 3, public fund managers have issued announcements to subscribe / subscribe for related fund products with their own funds to supplement the liquidity of A shares with actual actions.

According to the statistics of China Securities Investment Fund Industry Association, as of February 8, the cumulative self-purchase scale of 31 public fundraising institutions in the industry has reached 23.

74.5 billion.

From the source of funds, the self-purchased funds include the personal funds of its executives, employees, etc., in addition to the public funds raised.

In addition to the public offering entities, some brokerage asset management and private equity institutions have also launched subscriptions / applications for their own products.

Li Lifeng said that the above-mentioned self-purchasing behavior can hedge potential redemption pressure to a certain extent, while boosting market confidence.

  Last week, the potential net inflow of northbound funds was 300.

$ 5.9 billion is also an important incremental fund in the market.

According to the analysis of CITIC Securities, the above-mentioned median of US $ 30 billion is a net allocation of funds of approximately 24.4 billion US dollars, and a net amount of funds of a transaction type is approximately US $ 3.9 billion.About 99 million yuan.

  CITIC Securities judged that after the market overhaul, it is expected that the additional inflow will return to the average.

At the same time, fund self-purchase helps stabilize expectations, and public fundraising foundations continue to play the role of market stabilizers.

  The theme of science and technology will continue to interpret the main line of the A share valuation after repair. The views of major institutions are quite consistent, that is, technology stocks.

  Haitong Securities said that from the annual forecast data disclosed this time, the performance of GEM companies representing technology stocks has rebounded as a whole.

In the market structure of the market consolidation period, the three industries of TMT, pharmaceuticals, power equipment and new energy concentrated on the ChiNext stock are expected to lead.

  China Merchants Securities Zhang Xia’s strategy team stated that from an industry perspective, the technology sector is still in an upward cycle, and the demand for information technology will further increase in the future. 5G will drive technological progress, which will further improve the ability to provide technology, while the 2C end information consumptionThe acceleration of information construction at the 2B end, because the demand for science and technology has further increased, forming a resonance of technology supply capacity and demand.

Regardless of short-term fluctuations, it firmly believes that the technology sector will be the upward direction of the next few quarters, and it is worth paying attention to.

  Guosheng Securities Zhang Qiyao’s strategy team analyzed that the science and technology board is expected to become one of the “main battlefields” of A shares in the future.

Guosheng Securities said that the future will be a big era of equity financing, and the science and technology board will usher in historical possibilities.

In the future, the number of enterprises, the weight ratio and the segmentation of the science and technology board will continue to increase.

In fact, the science and technology board will attract more and more institutional investors to participate, and it will inevitably become one of the “main battlefields” of A shares and an important source of excess income.  Guosheng Securities said that reviewing last week’s performance, the Science and Technology Board also experienced a short collective retreat before the Spring Festival, but it quickly recovered its losses and reached a new high in the first week after the festival.

From February 3rd to 7th, the average growth rate of the stocks of the science and technology board reached 3.

26%, second only to the GEM index.

Hytera (002583): Performance meets expectations Expansion brings new opportunities for development

Hytera (002583): Performance meets expectations Expansion brings new opportunities for development

Event: The company released the semi-annual report for 2019 on the evening of August 25, and the company realized operating income of 27.

0.6 billion, down 11 every year.

42%; net profit attributable to shareholders of the listed company was 2170.

570,000 yuan, an increase of 176 every year.

03%; Net profit of alternative non-recurring gains and losses attributable to shareholders of listed companies-9199.

660,000 yuan, an annual decrease of 1206.

81%; The company achieved EPS 0 in the first half of 2019.

01 yuan, performance in line with expectations.

Comments: 1. The overseas subsidiaries’ business continued to integrate, and net profits achieved rapid growth. According to the company’s semi-annual performance forecast, the forecasted net profit range was 20 million to 30 million yuan, an increase of 154.

34% -281.

50%, with a median of 25 million yuan, an annual increase of 217.

92%.

In the first half of 2019, the company’s operating income and net profit were 27.

06 ppm and 2170.

570,000 yuan, down 11 a year.

42% and up 176.

03%, performance is in line with expectations.

Among them, the second quarter’s single quarter operating income and net profit were 16 respectively.

1.4 billion and 1.

2.2 billion, down 11 each year.

9% and up 8.

7%.

The decline in company revenue was mainly due to: 1) the carry-over of revenue in the first half of last year was approximately 3.

500 million (at home and abroad), leading to a cardinal number break.

Excluding carry-over factors, the company’s revenue increased slightly in the first half of the year (about 1.

0%); 2) due to the macroeconomic impact in the first half of the year, domestic business pressure has decreased; 3) OEM revenue has fallen sharply.

Net profit increased significantly in the first half of the year, and operating cash flow continued to improve, mainly due to: 1) the steady development of global private network business and continuous deepening of integration with overseas subsidiaries; large project orders announced in the first half of the year reached the highest level in history; 2)The contribution of new wide-narrow integration products to the overall revenue has steadily increased; 3) The effect of refined operations has been significant, and sales and management costs have decreased significantly, and financial management and control have been significantly enhanced.

In terms of products, the main business (private network communications) in the first half of 2019 achieved revenue19.

68 ppm, a decrease of 7 per year.

42%.

Among them, terminal product income11.

69 ppm, a decrease of 8 per year.

27%; system product income 7.

9.9 billion, down 6 every year.

16%; excluding the influence of settlement factors, the main business income in the first half of the year increased by about 12 each year.

4%.

2019H1 Revenue from OEM and Other Products7.

3.8 billion, down 20 every year.56%, mainly due to the overall sluggishness of the blockchain in the first half of the year, we expect that excluding the blockchain chain, the revenue of the OEM and other product segments will still maintain steady growth.

By region, in the first half of 2019, the company’s domestic and foreign markets respectively achieved operating income10.

98 ppm and 16.

08 billion yuan, down 23 each year.

35% and 0.

87%, accounting for 40% of operating income.

58% and 59.

42%.

Compared with the same period of last year, the proportion of domestic business revenue has decreased by 6.

32 units, overseas business achieved good expansion.

Excluding the carry-over effect, the company’s overseas revenue increased by approximately 11.

1%, domestic income fell by about 10.

9%.

The company’s overseas expansion was smooth in the first half of the year, and the announcement of large project orders reached the best level in history.

However, part of the announced orders came from the Americas region. Currently, revenue has not been confirmed, which is expected to bring revenue growth in the second half of the year.

From the perspective of subsidiary net profit, the German HMF subsidiary contributed net profit in the first half of 201911.

120,000 yuan, an annual increase of 100.

5%.

Cypro’s first-half revenue was dazzling and its net profit reached 1015.

200,000 yuan, net profit contributed nearly half.

The company continues to promote the gradual development of the improved marketing system and digital marketing, and continues to grasp the potential of the “Belt and Road” market.

Further solidify the real public safety field in the European market.
At the same time, the Latin American region has given full play to the synergy effect, and overseas revenue is expected to maintain a high growth in the second half of the year.

2. Measures to increase efficiency and control fees were gradually realized, and the company’s gross profit margin remained stable. In the first half of 2019, the company’s comprehensive gross profit margin.

2%, 0 per year.

6 units.

Gross domestic sales margin 37.

4%, down by 1 every year.

2 units; gross profit margin for foreign sales is 47.

2%, down by 1 every year.

3 units.

The gross profit margin of domestic and overseas sales has remained basically stable, with slight deviations.

In terms of gross profit margins by product, the gross profit margins of the company’s systems and OEM and other products in the first half of 2019 were 52.

2% and 19.

9%, up 2 every year.

7 and 0.

1 average, the gross margin of the end product is 51.

8%, a decline of 5 per year.

8 units.

There are two main reasons for the decline in gross profit margin: 1) the revenue carried over in the first half of last year was mainly high-margin terminal products; 2) the proportion of overseas revenue increased in the first half of this year.Interest rate constant.
In terms of expenses, sales expenses have fallen by 13 each year.
4%, selling expenses 15.

9%, a decline of 0 per year.

4 units; management costs decrease by 4 each year.

29%, administrative expenses12.

8%, rising by 1 every year.

0 per share; financial expenses decrease by 5 per year.

5%, financial expense ratio 5.

2%, rising by 0 every year.

The three averages are mainly due to the increase in short-term expenditures of the company and the increase in interest expenses.

In the first half of the year, the absolute value of the company’s expenses decreased, reflecting the good integration of Hytera and its overseas subsidiaries in sales, management and other aspects.

R & D expenses are 3.

600,000 yuan, basically the same as last year.

R & D expenses13.

3%, up by 1 each year.

5 units.

In the first half of the year, the company’s intangible assets increased. Excluding the impact of the increase in amortization of intangible assets, the R & D expenses in the first half of the year steadily decreased.

The company’s R & D expenditure ratio decreased by 14 in the same period last year.

4%. In the future, we will further focus on key broadband applications, smart terminals, multimedia command and dispatch, and public network dedicated products, and gradually reduce non-core business investment.

The company is continuing to promote the transition of private network communications to new products, technologies, and services such as broadband, intelligence, and informatization in accordance with the initial goals. It will continue to increase innovation.

At present, wide-narrow-band fusion products have been delivered in mass production, and the third-generation converged command center has also begun to achieve large-scale commercial use at home and abroad.

3. Refined operating results are significant, and operating cash flow has continued to improve Since the third quarter of 2018, the company’s operating net cash flow has been positive for the first time, and cash flow has continued to improve.

Net cash flow from operating activities in the first half of 2019 reached 5.

9.4 billion, up 182 previously.

3%.

The operating cash flow in the first and second quarters of this year was 3 respectively.

09 ppm and 2.

USD 8.5 billion was mainly due to the company’s strengthening of the construction of the credit receivable management system and the increase in sales receipts.

The cash flow situation has continued to improve. It is expected that through the strengthening of the company’s receivable management and expense control, the cash flow will gradually improve.

The company’s asset-liability ratio (total debt / total assets) for the first half of 2019 was 58.

8%, which is a further improvement from the end of last year, and is down by 0 from the previous month.

3 units.

In order to improve the company’s short-term debt repayment ability and reduce the debt repayment risk, the company issued a bond issuance plan again in July this year. It is expected that the bond issuance will not exceed 1 billion US dollars and the term will not exceed 5 years (including 5 years).

In the first half of the year, the company’s long-term receivables dropped significantly, and the days of accounts payable turnover increased, and the company’s supply chain management benefits were significant.

The company strengthened the management of receivables. As of June 2019, the company’s long-term receivables decreased by 1 compared with the end of last year.

8.4 billion.

From the upstream point of view, the company’s accounts payable turnover days have increased sequentially and in several years, the company has improved its upstream bargaining power, and its supply chain management has continued to optimize.

4. At the same time, the domestic and overseas markets made efforts to announce that the initial orders for large projects reached the best level in the same period in the beginning of the period. The number of large project landings and the amount of successful bids increased significantly.

In China, the company has built and delivered private network communication system projects in Hebei, Nanjing, Shenzhen and other provinces and cities, and customers have responded well.

At present, nearly half of the domestic PDT network construction. In the future, in addition to the continuous penetration of blank markets, the company will continue to achieve “wide and deep” coverage in established countries. Overseas, the integration effect of acquisitions will become more prominent, and global competitiveness and market share will steadily increase.
News of the successful bidding of overseas projects this year has repeatedly returned. The company continues to grasp the “Belt and Road” market, and in addition, has taken the lead in further consolidating the public safety field in Europe, while also contacting the Spanish sun company.
The market breakthrough is expected to be reflected in the income of the second half of the year.
5. The product structure continues to be optimized, and the contribution of new products of wide and narrow integration to the overall revenue has steadily improved. The traditional digital products of the company have developed smoothly at home and abroad. The arrival of new products is expected to become the company’s new growth driver.

With competitors in the industry, such as Motorola and Ou Yuhang, giving up self-developed broadband network technology and choosing to cooperate with large public network equipment manufacturers, Hytera has always adhered to independent research and development and laid out wide-narrow convergence areas in advance. Currently, it has gradually launched broadband broadband and multi-mode terminals., Multimedia command center, ad hoc network communications and other new products.

Among them, broadband and narrowband fusion products have been delivered in mass production, and the third-generation fusion command center has started large-scale commercial use at home and abroad.

At the beginning of 2019, the company won the bid for the R & D and mass production projects of China Mobile and the intercom independent brand series of terminals, thereby providing intelligent wide and narrow integration PoC terminals and accessories. The winning amount was 2.

8.8 billion yuan.

In July this year, it won the bid for the hardware equipment project of the Shenzhen Smart Urban Management Informationization Project. This project will use the company’s third-generation integrated command center related technologies and products, and the bid amount is 4885.

710,000 yuan.

In the future, Hytera will enter more flooded law enforcement industries through public network dedicated products and through operator channels. It is also expected to undertake more overseas national operator business.

6. The implementation of the new business of wide and narrow integration brings high growth momentum to the company. It maintains the “Strongly Recommended-A” rating at home and abroad. The global market is developing steadily and the growth potential in Latin America is huge. The company’s performance in the second half of the year is expected.

The integration effect of overseas subsidiaries has become increasingly prominent.

The company has gradually transformed from a horse-growing and extensive growth to a refined operation for profit, and the cash flow situation has improved significantly.

As one of the world’s leading private network communications companies, the company has always insisted on the wide-narrow convergence technology through independent research and development.

Private network broadband is a deterministic trend in the industry and is expected to bring several times the growth of the market size.

The company’s wide and narrow convergence products have achieved large-scale production delivery. The third-generation converged command center has also started large-scale commercial use at home and abroad.

It is expected that the net profit attributable to mothers for 2019-2021 will be 7, respectively.

00 ppm, 9.

10,000 yuan, 11.

780,000 yuan, corresponding to 26 PE in 2019-2021.

1, 20.

3 and 15.

5 times, 无锡夜网 maintaining “strongly recommended-A” grade.

Risk warning: Business expansion is less than expected, expense control is less than expected, and market competition is intensifying.

Pan Gongsheng: Full confidence in the stable operation of the stock market

Pan Gongsheng: Full confidence in the stable operation of the stock market

For stocks, please read Jin Qilin analyst research report, authoritative, professional, timely, and comprehensive, to help you tap potential potential opportunities!

  Original title: Pan Gongsheng: Full confidence in the rapid operation of the stock market city government The relevant person in charge attended the introduction to support the new fiscal and taxation policies related to the prevention and control of the new crown pneumonia epidemic, alleviating the financing difficulties of small and micro enterprises

  According to preliminary deputy governor Pan Gongsheng, on February 3, China’s financial market, especially the stock market and foreign exchange market, opened as scheduled. This behavior shows the Chinese government’s determination to maintain market rules and demonstrates the Chinese government’s decision-making level.Self-confidence also shows that China’s financial market is maturing.

  ”After the stock market and the foreign exchange market have undergone significant adjustments on the first day of the market, the stock market has rebounded stably in the past few trading days, and the RMB exchange rate is still showing appreciation and a small change in both directions.

This shows the strengthening of China’s financial market.

Pan Gongsheng said.

  Pan Gongsheng has further improved. The financial market is very sensitive and can quickly price risks. Securities and foreign exchange markets have basically returned to normal operation after undergoing a short-term change in the initial stage of the market.

Financial markets show their confidence in the Chinese government’s control of the epidemic and its future growth in a unique way.

  ”The impact of the epidemic on China’s economy is only temporary and temporary. It will not change the long-term outlook of the Chinese economy, and the fundamentals of growth and growth. The Chinese economy has also shown a very strong substitution.

The Chinese government has the policy space to stabilize economic growth, so it is full of confidence in the stable operation of the Chinese stock market and foreign exchange market in the future.

Pan Gongsheng said.
  According to Pan Gongsheng, according to the requirements of the State Council, the impact of the epidemic on China’s economy is being carefully analyzed and evaluated.

The impact of the epidemic on the national economy is temporary and temporary.

The epidemic coincides with the Spring Festival, which will affect the tourism, catering, entertainment and other service industries. Extension of holidays and alternative construction will also have some impacts on industrial production and construction.

  ”In the first quarter of the epidemic, economic activity may cause disturbances. After the epidemic eases, China ‘s economy will quickly stabilize, and consumption and investment in the previous period will be effectively released, and China’s economy will recover.

Pan Gongsheng said.

  When talking about strengthening the counter-cyclical adjustment of macro policies, Pan Gongsheng said that monetary policy will increase the intensity of counter-cyclical adjustments, maintain reasonable and sufficient liquidity, and provide a good monetary and financial environment for the real economy.

We will continue to give play to the guiding role of structural monetary policy tools such as targeted RRR cuts, refinancing, and re-discounting, and increase support for key areas of the national economy and weak 武汉夜网论坛 alternatives.

  Regarding whether the market-focused epidemic will lead to an increase in the fiscal deficit rate this year, Yu Weiping, deputy minister of the Ministry of Finance, disclosed that this year ‘s deficit arrangements have taken into account some uncertain factors. Judging from the current situation, the expenditure for epidemic prevention and control is guaranteed.It also has a great impact on the fiscal budget. I am confident that this fiscal target will be achieved this year.

  In addition, regarding the rumors that the transition period of the new asset management regulations will be extended, Pan Gongsheng reappeared, and gradually conducted a technical assessment with the CBRC to determine whether to extend the transition period of the new asset management regulations. The possibility of an extension of the transition period may exist.

What can eat to defeat the super germs in the intestine?

What can eat to defeat the “super germs” in the intestine?

Recently, a two-year, unprecedented-scale study showed that daily intake of Lactobacillus casei strains (a typical probiotic, the strain used in Yakult drinks) has a significant effect on reducing the incidence of acute dysentery in young children.

This is the result of a study on the incidence of probiotics and young children with acute dysentery conducted by Yakult Corporation and the National Research Center for Cholera and Diarrhea in India.
.hzh{display:none;}  据日本共同社报道,全世界5岁和5岁以下儿童每年的死亡的人数是880万,而且印度是死亡最高的国家(每年约为183万儿童)。It is reported that 13% of deaths among children aged 5 and under in India are due to dysentery.
(BlackRE et al., Lancet.
2010.
375: 1969-1987).
  This is a double-blind randomized controlled trial involving 3,585 children aged 1 to 5 years in Kolkata, India.
The two groups of children who participated in the experiment ingested Yakult or placebo daily for 12 weeks, observed the incidence of acute dysentery, and detected pathogenic microorganisms in feces.
  The results showed that the proportion of children with dysentery in the Yakult group (608 out of 1,802 patients) was significantly reduced compared to the “placebo” group (674 in 1,783 patients).
In addition, the incidence of dysentery in the Yakult group (0.
88 times / pediatric / year) compared to the “placebo” group (1.
029 times / children / year), this difference is statistically significant (P <0. 01). At the same time, analysis of pathogenic bacteria, viruses and parasites in children with diarrhea and diarrhea showed that the detection rate of Aeromonas and Cryptosporidium in the Yakult group was lower than that in the placebo group.   The taste and color of placebo and Yakult are similar, but the placebo drink does not contain Lactobacillus casei strains. The efficacy of Yakult is scientifically verified by comparing the different effects of the two groups of drinks.

Pay attention to the eight fruits during the weight loss period, do not eat on an empty stomach.

Pay attention to the eight fruits during the weight loss period, do not eat on an empty stomach.

Lead: The benefits of fruit, it seems that they can not finish: can be beauty, can help digestion, can supplement the body’s needed nutrition.

Many people lose weight by eating fruits, but these eight weight-loss fruits can never be eaten on an empty stomach.

  1.

Tomatoes contain a large amount of pectin, persimmon phenol, soluble astringent and other ingredients, which easily react with gastric acid and condense into a hard-to-dissolve mass.

These lumps can insert the pylorus at the exit of the stomach, causing the pressure in the stomach to rise, causing acute gastric dilatation and causing bloating.

  2.

When the persimmon is fasting, the stomach contains a lot of stomach acid. It easily reacts with the persimmon phenol, colloid, pectin and soluble astringent contained in the persimmon to form stomach persimmon, causing heartache, nausea, vomiting, stomach dilatation, stomach.Ulcers, even stomach perforation, stomach bleeding and other diseases.

  3.

Banana contains a lot of magnesium. If you eat bananas on a fasting day, the amount of magnesium in the blood suddenly rises, causing the imbalance of magnesium and calcium in the blood of the human body, which has an inhibitory effect on the cardiovascular system and is unhealthy.

  4.

Oranges contain a lot of sugar and organic acids. When you eat oranges on an empty stomach, it will stimulate the gastric mucosa, causing an increase in stomach acid, making the spleen and stomach full of suffocation and pantothenic acid.

  5,

Black dates contain a lot of pectin and implanted acid, which is easy to combine with stomach acid in human body, and there is a hard lumps in the stomach.

In particular, you should not eat too much before going to bed. People who are gradually getting chronic diseases should not eat it.

  6.

Fresh lychee lychee has a high sugar content. Eating on an empty stomach will stimulate the gastric mucosa, causing stomach pain and bloating.

And eating too much fresh lychee on an empty stomach will cause “hyperosmolar coma” due to sudden infiltration of excessive high sugar in the body.

  7.

Hawthorn is sour, it has the effect of gas and digestion, but if it is eaten on an empty stomach, it consumes gas, and it will enhance the sense of pregnancy and aggravate the stomach.

  8.

Pineapple contains a very strong proteolytic enzyme. If you eat it before a meal, it is easy to cause stomach wall injury.

Eating metamorphic Tremella is easily poisoned

Eating metamorphic Tremella is easily poisoned

Metamorphic Tremella Poisoning all occurs after eating rotten and metamorphic artificially cultivated fresh Tremella; the incubation period of metamorphic Tremella poisoning is 2-72 hours, most of which are 12-24 hours.

  The cause of tremella tremella poisoning: It is caused by the bacterial fungus A produced by the tremella tremella deterioration.

  Symptoms of Metamorphic Tremella Poisoning: After eating metamorphic Tremella that contains flavin toxins, people will have symptoms of nausea, rejection, vomiting, abdominal pain, diarrhea, dizziness, headache, and irritability.

In severe cases, coma occurs, teeth are closed tightly, and for a long time, jaundice and extensive bleeding of the skin and mucous membranes may occur, which can lead to death.

  There are no effective treatments for metamorphic Tremella poisoning, and vomiting, gastric lavage, and bowel lavage should be initiated as soon as possible, and treatments such as liver protection, kidney protection, and lower intracranial pressure should be used.

  Method for identifying spoiled white fungus: take a piece of white fungus and chew it in the mouth, and it is the spoiled white fungus that has a clear pungent taste, and consumers should not be fooled.

For your safety it is forbidden to bring 5 things to bed

For your safety it is forbidden to bring 5 things to bed

1.

Wear a “watch” to sleep.

  Some people like to watch the watch to sleep, which will not only change the alternation of the watch, but also not good for health.

Because watches, especially luminous watches, have radium radiation, although the amount is extremely small, experts believe that continuous accumulation can lead to adverse consequences.

  2.

Wear “tooth” to sleep.

  Some people are accustomed to sleeping with dentures, often accidentally swallowing dentures into the esophagus, and the hooks of dentures may pierce the aortic arch next to the esophagus, causing major bleeding or even life-threatening.

Therefore, people who wear dentures are better off before going to bed to clean them, which is not only good for oral hygiene, but also safe to fall asleep.

  3.

Wear a “hood” to sleep.

  According to a survey of more than 5,000 women by the Institute of Civilized Diseases in Hawaii, the United States found that women who wear bras for more than 12 hours a day may suffer from diabetes more than 20 times more than those who wear bras for short periods of time or not at all.

Women wear bras to show beauty or protect their breasts, but it is not necessary to sleep at night.

  4.

Take “machine” to sleep.

  Some people put their mobile phones at their heads at night for the convenience of talking.

American expert James.

Cook pointed out that during the use and operation of various electronic devices, such as color TVs, refrigerators, and mobile phones, a large number of electromagnetic waves of different wavelengths and frequencies are released, forming an electronic mist that affects the human nervous system and physiological functions.Twisted and chaotic, although the release amount is very small, but it is inevitable.

  5,

Sleep with “makeup”.

  Some women, especially young women, are too lazy to remove their makeup before going to bed.

It should be noted that sleeping with a makeup makeup will reset your skin pores, cause sweat secretion, prevent cell respiration, and continue to cause acne and damage the face.

Therefore, it is necessary to remove makeup and wash your face before going to bed. You can remove the irritation of the makeup on the face in time to allow the skin to fully breathe, which can maintain the skin’s moisturization and make it fall asleep early.

Where is the oxidation enemy

Where is the oxidation enemy

Since birth, aging has begun its never-ending journey.
As the most visible organ, skin aging is particularly noticeable.
One of the main reasons why people get old is oxidation!
The effect of oxidation on the skin is mainly to stimulate cells to secrete melanin, causing dullness and spots, and to break down collagen, making the skin lose elasticity and relaxation.
If you do not do antioxidant maintenance, your skin will look like an apple exposed to the air?
  Where is the oxidation enemy?
A little bit of human body metabolism, for example, every time you breathe, you need oxygen, and free radicals are generated during the process. Under normal circumstances, free radicals are broken down into water and oxygen and discharged from the body.
But with increasing age, more and more free radicals cannot be automatically decomposed, and instead attack cells, causing damage and aging.
  In the book “Human Revolution”, the Genetic Diagnosis Office of Harvard Medical School in the United States once put forward: “If oxidation does not occur, according to human growth rules and genetic speculation, people can live up to 167!
“Why does he produce free radicals?
What are the causes of free radical growth?
Only by knowing this can we prevent the growth of free radicals at the source and slow down aging.
  The causes of free radicals are external and internal.
External factors such as pollution from ultraviolet rays, second-hand smoke, and radiation from electrical appliances will stimulate the body to produce excessive free radicals; internal psychological pressure, staying up late and other bad schedules, and colds and illnesses will also generate a lot of free radicals.The more free radicals there are, the more chance there is that they cannot be broken down, stay in the body and oxidize cells.
  Experts: After 25 years of age, topical and internal use anti-oxidant experts suggest that after 25 years of age, you can use topical maintenance or internal use to antioxidants, of course, from daily life and a balanced diet is the cure.
  <氧化兵团>  Oxidation will occur as long as you breathe. In addition, there are many internal and external factors that will cause excessive free radicals and damage skin and physical health. You need to rely on external forces to help the body resist oxidation.
  <作战计划>  Strategy 1: Keep attacking and defending. Maintenance is based on sun protection. UV rays in the sun are more likely to “oxidize” the skin than indoor lights. Therefore, daily sun protection can be said to be the basic common sense of maintenance!
For indoor work, you can choose sunscreen products around SPF30 / PA ++. If you need to go out or have just finished medical beauty treatments, it is recommended to use SPF50 / PA +++ high coefficient sunscreen products, and make up every 2 hours.
  单品推荐:  FANCL无添加防晒露30号 SPF30 PA+++  参考价格:¥228/60ml  利用紫外光反射剂作防晒,并加入补湿及抗氧化等护肤成份,高效对抗紫外光,让肌肤清爽无负担,The texture is gentle, moist and easy to spread.
Protects against sweat and grease, suitable for daily use or outdoor activities.
  网友:呆呆219 油性皮肤  刚刚败得防晒的东东,他家的东西向来都是很不错的,口碑也好,这款防晒露很适合油性肌肤的MM,我皮肤就很油,但是用上去很清爽,而且吸收很快,用后没有厚重的感觉,嗬嗬 而且是60ml哦量也多足够一个夏天了.
Very good sun lotion.
  LANCOME Lancome soft and soothing sunscreen SPF30 Reference price: 495 / 30ml Effective, light and cool texture, make skin feel soft and delicate and moisturizing.
Always light, flowing and softly infiltrated into the skin, providing the skin with a comfortable, gentle and pleasing sensory experience.
Mexoryl SX和Mexoryl XL组合,有效全面抵抗UVA以及UVB辐射  网友:luojieaier0325 混合性皮肤/受损发质发质/23岁  很好用的一款防晒霜,涂的时候有淡淡的香味,抹在脸There is a light feeling on it, it is quickly absorbed, it is not oily at all, it is well pushed away, and the moisturizing effect is very good. I have mixed skin, and I usually use sunscreen T area for several hours.Very oily, but after a few hours, this sunscreen is not oily in my T zone, which shows that it also has a good oil control effect, and the sun protection value is also very high. In summer, it is enough to wipe the face.Buy another bottle because the price is still a bit expensive.
  CLINIQUE倩碧超凡嫩白防晒隔离霜SPF40+/PA++  参考价格:¥395/30 ml  不含油份,质地轻盈,防止黑色素生成,加速肌肤亮白进程  网友:n_v116 25岁  一直对防晒霜不报任何幻想,觉得It is thick and oily on the face, the most important thing is that it has no effect!
Until recently, the sun was very strong and the wind and sand were very strong. Every day when I returned home, I felt that my skin was dark and yellow.
.
.
There were spots!
To be honest with this sunscreen, I am very satisfied. It is not oily or thick. It can be applied to the skin very quickly. Even after removing makeup, it seems to be whiter than pimple ~~ My husband said that I finally bought a product.Value for money!
  战略2:人海战术,抗氧化成分前仆后继  抗氧化保养的基本功就是“保湿+防晒”,市售保养品或多或少都含有抗氧化成分,只要加上彻底防晒,基本上效果已经有80分.
However, there are too many “internal and external problems” in life. Those who are busy with work, staying up late for a long time, and having an abnormal diet, who are full of oxidative crisis every day, it is best to prepare 1-2 bottles of antioxidant care products with high concentration of ingredients,The compound formula is adopted to combat the free radicals and adopt the “human sea tactics”: the antioxidant ingredients succeed and succeed before they have the chance to defeat the free radicals.
  Estee Lauder Fresh Nutrition Night Cream seize the golden hour from 10 o’clock to 2 a.m., so that red pomegranate can get close to the sleeping skin and exert its metabolic effect with half the effort.
Enriched with rich moisturizing essences, it reshapes the skin’s natural repairing function and rescues the stressed skin during the day.
Nutrients and antioxidants are released at night, injecting the “source of brilliance”-energy into the skin, giving the skin the healthy glow it needs the next day.
As soon as I wake up, my skin is beginning to reflect a beautiful glow.
  Reference price: ¥ 580 / 50ml Netizen: Sherlyx 35-year-old A very good night cream, very moisturizing, fresh taste, it feels more greasy when just applied, but the skin really feels very moist and smooth in the morning.。Very recommended for dry skin MM autumn and winter use ~~~~ even mixed type, I feel pretty good.

  Lancome Youth Oxygen Emulsion Reference Price: ¥ 720 Lancome Youth Oxygen Essence Lotion is specially created for Asian skin. The perfect anti-oxidant, oxygen-enriched skin care for early aging. Antioxidant, skin care day after day, recovery.New live young.

A hydrating formula with cutting-edge aerobic energy, which allows skin to absorb richly.

The drops are translucent and infiltrating, awakening the skin soft and bright.

After cleansing your face in the morning and evening, take an appropriate amount on the palm or cotton pads, and pat your face gently to condition your skin for a fresh and tender skin.

  Netizen: nigh1234 mixed skin / oily hair, my skin is relatively dry, so I like to use the hydrating effect is significant, this one is very suitable for my skin, soft and gentle, the skin absorbs quickly, long-lasting shrinking moisturizing, letThe skin is smooth and supple, has good antioxidant properties and can delay aging.

  Strategy 3: Airborne troops, health food to complement the beauty experts suggest that taking healthy foods internally, anti-oxidation from the body, multiplying inside and outside, the effect is better!

  FANCL collagen-free beauty skin drink Reference price: ¥ 298 / 50ml × 10 Fancl third generation HTC beauty skin collagen drink (with Q10 ingredient) 1, HTC collagen-beauty skin ingredients: HTC collagen has two major benefits for skinIn fact, it has a short molecular structure and the same structure as collagen in the body, so it is easily absorbed by the body and reaches skin cells in the shortest time.

Studies have confirmed that skin absorption of HTC collagen is 4 times higher and faster than ordinary gum proteins.

2. Coenzyme Q10-antioxidant component: It is also very important to protect the existing collagen from further damage and reduction.

We therefore added Coenzyme Q10, a powerful antioxidant naturally produced in the body, to TENSEUP EX.

It can effectively protect skin cells and collagen from oxidative damage, and at the same time enhance cell energy and promote skin metabolism.

3, other active ingredients: TENSEUP EX also contains other skin beauty active ingredients, such as blueberry extract, intercellular lipids, hyaluronic acid, vitamin C and vitamin E to give the skin flawless protection.

Exclusively marketed in Japan, adding Q10 ingredients makes skin protein more easily absorbed by the skin!

The Q10 ingredient can activate the skin’s fine casualness, make the fine casual muscles more active, replenish the skin’s deep energy, and bring out beautiful skin full of radiance.

  Netizen: The ideal type of collagen supplement for night and night neutral skin. Since it was discovered 4 years ago, it has been taken intermittently. It is very effective in hydrating and lubricating the skin. Basically, it can be very obvious in three months.For people who have good skin, the improvement is more flexible.

It is more expensive, more than 20 yuan per day, which is a disadvantage. Hehe recommends the reason: to improve skin problems from the body, skin care effect is completely lasting, unique and smooth, repair formula, for various problems such as rough, dry lines, excess, etc.The smooth repairing elements make the skin completely improved, restore smooth and translucent, firm and flawless.

Do cancer patients avoid eating hair?

Do cancer patients avoid eating “hair”?

Click on the top right corner to read more health knowledge!

Ms. Zhang: Someone in the circle of friends said that mutton, seafood and other “fat” cancer patients need to eat. Is there any reason for this?

A: The question about the taboos of cancer patients cannot be generalized. It depends on people, because of illness, and because of the law.

It varies from person to person depending on the patient’s different constitution.

Such as obesity and dampness, avoid eating fat and thick, so as not to help wet oysters; temperament deficient or yin physique should eat cold and cold products, prevent cold accumulation in the body, damage yang; weak heat or impotence physiqueDo not eat mutton dog meat and fried hot fried foods such as frying, so as not to hurt the yin and smoldering; damp heat body does not eat alcohol and tobacco, eat less spicy products, avoid heat and heat.

Different local tumors vary according to the disease, and different conditions are different.

Tumors with above-mentioned diseases, such as head tumors, diabetes, esophageal cancer, etc., should not be served with spicy and dry products, such as tobacco and alcohol, betel nut, mutton, dog meat, etc., because the body is above the positive position, the warm and dry products are prone to heat and fire.The tumors that are under the disease, such as intestinal cancer, gynecological tumors, etc., eat cold and fat, etc., because the abdominal cavity is in the negative position, cold and fatty, easy to hurt the sun and help the wet.

Tumors with hemorrhagic disease need to avoid spicy and warm dryness, because it helps the yang heat to aggravate bleeding.

Patients with expected survival patients are required to avoid taboos, but patients in the terminal phase must correct them. The principle of “stomach is to supplement with happiness” is as follows. As long as the patient wants to eat, he or she wants to get nutrition and pleasure as he or she wants.

Because of different treatments, patients with radiotherapy avoid spicy and warm products, because radiotherapy is a kind of heat, food spicy and warm products like oil on the fire; chemotherapy patients should be light to care for the stomach, should not eat raw cold fertilizerGreasy, because of chemotherapy is easy to hurt the spleen and stomach, cold and fatty, easy to gather wet oysters and more hurt the spleen and stomach; implanted patients with qi and blood deficiency, avoid alcohol and tobacco, dry, cold; interventional treatments do not eat shrimp and crab seafood, because of the treatment oftenAccompanied by skin itching, diarrhea and other reactions, cold seafood is easy to aggravate symptoms; patients taking Chinese medicine should pay attention to drug and food taboos, such as ginseng to avoid radish, Banxia avoid mutton and so on.

In the circle of friends, it is said that you should avoid eating lamb, seafood and other “fat”, which can not be mechanically performed. Cancer patients should be informed of the diet under the guidance of a doctor.