Three Gorges Water Conservancy (600116): Water in the flood season improves to improve performance Significant asset reorganization development growth space

Three Gorges Water Conservancy (600116): Water in the flood season improves to improve performance Significant asset reorganization development growth space

Incident Three Gorges Water Conservancy released the third quarter report of 2019, and net profit attributable to mothers decreased.

85% of Three Gorges Water Resources released the third quarter report of 2019, and the company achieved operating income in the first three quarters of 20198.

40 ppm, an increase of ten years.

81%; Realize net profit attributable to shareholders of listed companies.

70 ppm, a reduction of 2 per year.

85%; expected average ROE is 5.

87%, a reduction of 0 per year.

40 units.

In the third quarter, it achieved operating income in a single quarter3.

09 million yuan, a decrease of 3 per year.

04%, net profit attributable to mother 0.

60 ppm, an increase of 68 per year.


Brief comment on the improvement of the self-power generation and the improvement of self-power generation during the flood season. The company is a local power company that integrates power 南京夜网论坛 generation and power supply. The power distribution business is concentrated in Wanzhou District, Chongqing City.

Due to the decrease in water supply in the basins of the company’s power plants in the first half of the year, the company gradually completed its power generation2.

2.3 billion kWh, a decrease of 39 per year.


After entering the flood season, the power output of the company’s hydropower station increased significantly, and the company achieved power generation in the third quarter in a single quarter3.

3.7 billion kWh, an increase of 45 in ten years.


The high growth of self-generating power has effectively reduced the company’s outsourcing power, and the company achieved a gross profit margin of 28 in the third quarter.

81%, an increase of 13 a year.

07 levels; realized gross profit of 0.南京龙凤网

8.9 billion, an increase of 0 in ten years.

3.9 billion.

The increase in self-generating power to promote the growth of gross profit of the main business is the most preliminary improvement of the company’s single quarter performance in the third quarter.

Significant asset reorganization is approved, which is expected to expand the growth space of the electricity sales business On October 15, 2019, the company’s major asset reorganization was approved by the SASAC of the State Council. The company intends to purchase Chongqing Changdian United Energy Co., Ltd. 88 by issuing shares and paying cash.

55% equity, 100% equity of Chongqing Liangjiang Changxing Power Co., Ltd.

Judging from the combined financial value of 58.

30,000 yuan, annual net profit is about 2.

7.3 billion; Changxing Power ‘s net assets are about 5.

5.3 billion, annual net profit is about 0.

08 thousand yuan.

At present, the matter has been cancelled by the CSRC, and the follow-up still needs to be reviewed by the State Council ‘s anti-monopoly law enforcement agency and approved by the CSRC. There is still some uncertainty.

If this major asset reorganization is successfully completed, Changdian United Energy and Liangjiang Changxing’s high-quality grid assets will help the company break through the development ceiling. The company is also expected to become the best carrier for the Three Gorges Group to build a power sales platform in the southwest region in the future.

On this basis, in the future, the company is also expected to lead the Three Gorges Hydropower into Chongqing, and the high-quality and low-cost outbound hydropower of the Three Gorges Group is also expected to reduce the company’s outsourced power costs.

Considering that the company’s power sales business is stable, the self-generation business has improved significantly after the water supply has improved in the flood season. Without considering the replacement of the major asset restructuring temporarily, we reasonably consider the replacement role of Three Gorges Power.0.

23, 0.30 and 0.

32 yuan.

We are optimistic about the huge development space brought by the Chongqing Electric Power Reform and the Three Gorges Group’s integration of the local power grid to maintain the buying level.

Rongsheng Petrochemical (002493) Interim Review: Loss of inventory dragged down Sinopec’s H1 results in line with expectations

Rongsheng Petrochemical (002493) Interim Review: Loss of inventory dragged down Sinopec’s H1 results in line with expectations
Event: The company released its semi-annual report for 2019, and achieved total operating income of 394 in 19H1.920,000 yuan (+5 compared with the same period last year).28%), realizing net profit attributable to mother 10.460,000 yuan (Year-on-year.66%) and realized deduction of non-net profit9.710,000 yuan (-16% year-on-year.34%), the overall basically in line with market expectations. The loss of inventory caused by the decline in crude oil prices replaced the performance of Sinopec.The semi-annual fluctuation of the company’s performance was mainly due to the performance of Sinopec: 19H1 Sinopec’s performance was 3.16 trillion, ranked 7 in the same period last year.00 percent is over 50%.We analyze that the core reasons for the decline in the performance of Sinopec are: 1) the inventory loss caused by the decline in crude oil prices in May, from the perspective of 北京夜生活网 gross profit, rather than the reality of PX gross profit (PX-naphtha-processing expenses) significantly narrowing(This is related to the simultaneous decline in prices of crude oil and naphtha). We oppose the claim that the decline in the performance of Sinopec is due to the narrowing of the PX price difference; 2) The fuel oil price driven by IMO 2020 will increase.The cost advantage has declined.Since 2019, we can see that the price of fuel oil is very strong compared to crude oil. The cost advantage brought by Sinopec’s “use of fuel oil to produce PX” has been reduced-the average price of Singapore fuel oil 180/380 in 19H1 was 409.95/402.31 US dollars / ton, it is estimated that the same period last year increased by 1.88/2.88%, while Singapore naphtha price 19H1 average price is 57.06 US dollars / barrel, it is estimated that the 杭州夜网论坛 same period last year fell by 15.01%, so as a raw material for PX production, the advantages of fuel oil over naphtha are significantly narrowed. PTA replaced the aromatics business as a major contributor to performance.The PTA production enterprises controlled by Rongsheng Sen are Ningbo Yisheng, Dalian Yisheng and Hainan Yisheng.Since 2019, the PTA has been relatively high in scale. Ningbo Yisheng, Dalian Yisheng and Hainan Yisheng have achieved 7 in 19H1.25/4.89/3.77 trillion, ranking 3 in the same period last year.90/2.20/2.1.5 billion increased by 85.90/122.27/75.35%.On the whole, PTA production enterprises must have expanded to the breakthrough realm of Sinopec’s outstanding achievements. Profit forecast: According to the company’s H1 operation, we adjust the net profit attributable to mothers to 21 in 2019-2021.97/57.10/63.69 ppm, corresponding to PE of 33/13/11 times, maintaining the “overweight” level. Risk Warning: Crude oil prices fall, refinery and chemical project construction is less than expected, exchange rate fluctuation risks

China Power (600482): Issuing shares and convertible bonds to acquire subsidiary equity to optimize company capital structure

China Power (600482): Issuing shares and convertible bonds to acquire subsidiary equity to optimize company capital structure

In the evening of June 26, the company issued an announcement saying that the company intends to issue ordinary shares and convertible corporate bonds to 8 counterparties, including China Huarong, in order to purchase some of its equity interests in 7 target companies, including Guanghan Power.The price of the ordinary shares subordinated to the issue, and the initial conversion price of the convertible bonds changed by 20.

23 yuan / share, the total transaction consideration is 1,004,633.

880,000 yuan.

In addition, the company plans to issue supplementary funds for the non-public issuance of convertible bonds to no more than 10 investors. The maximum amount of funds is no more than 150 million yuan, which is expected to not exceed 100% of the restructuring transaction price.

Brief comment on the strike. The company has held the 29th meeting of the 6th Board of Directors on January 30, 2019 to pass the reorganization plan and merge with the previous reorganization. The company intends to make the original plan for the transaction as followsAdjustments: 1) The minority stake in Jiangsu Yonghan held by Harbin Guanghan is no longer purchased in this transaction; 2) The minority stake in Hechai Heavy Industries held by CSSC Heavy Industry Group is no longer purchased in this transaction;Reconstruction and reorganization will pass the review before January 31 of the following year, and the target asset gains and losses of the previous year will be shared according to the shareholding ratio.

This adjustment does not constitute a major adjustment to this restructuring transaction plan.

Issuance of shares and convertible bonds acquired part of the equity of 7 subsidiaries. After the completion of the acquisition, 6 of them were wholly-owned subsidiaries of China Power, with Hechai Heavy Industries accounting for 98.


The company intends to separately issue common shares and convertible corporate bonds to China Huarong, Dalian Defense Investment, National Military-civilian Integrative Industry Investment Fund, BOC Investment, China Cinda, Taiping Guofa, China Shipbuilding Industry Corporation, and China National Heavy Industries.Guanghan Power 7.

79% equity, Changhai Power pushed 8.

42% equity in China Chuanchai 47.

82% equity in Wuhan Shipbuilding 44.

94% equity, Hechai Heavy Industry 26.

47% equity, 35 Shaanxi Heavy Industry.

29% equity in Heavy Gear Company 48.

44% equity.

The total consideration of the underlying assets is 1,004,633.

880,000 yuan, of which 940,383.

The consideration of 880,000 yuan was paid by the listed company in the form of ordinary shares, 64,250.

The consideration of RMB 0 million was paid in the form of convertible corporate bonds.

In this transaction, the initial conversion price of convertible bonds is changed by 20 when the common shares are issued.

23 yuan / share, not less than 90% of the average stock trading price 20 trading days before the pricing benchmark date.

Raise matching funds not exceeding 150 million yuan.

The company intends to raise matching funds from non-public issuance of convertible corporate bonds to no more than 10 investors. The total amount of matching funds raised will not exceed 150 million yuan, which is expected to not exceed 100% of the restructuring transaction price.

The initial conversion price of convertible bonds is not lower than 90% of the average trading price of the company’s stocks in the 20 trading days before the pricing benchmark date, and the pricing benchmark date is the first day of the issuance period of the company’s raised supporting funds.

Among the companies intending to acquire specimens in this transaction, the average asset premium of the specimens was reset.

21%, estimated / expected 2018 net profit is 32.

71 times.

Guanghan Power and Changhai Power have higher acquisition premium rates of 166, respectively.

41% and 42.

43%, the remaining target acquisition premiums are below 20%.

Judging from the expected / 2018 net profit, due to China Ship Diesel, Wuhan Ship Machinery’s 2018 net profit penetrated from the decline in 2017, so the PE multiples were higher, which were 116 respectively.

74 times, 527.

39 times.

In addition, the PE ratio of Hechai Heavy Industry is relatively high. The average PE value of Guangchai Power, Changhai Electric Push, Shaanxi Heavy Industry, and Heavy Gear is below 30 times.

The transaction will optimize the 北京桑拿洗浴保健 company’s capital structure and improve the company’s operating quality.

The company intends to supplement shareholders’ supplementary capital through this transaction, thereby optimizing the capital structure of listed companies, reducing leverage, reducing the financial burden of the company’s subsidiaries, improving the quality of operations, and promoting the completion of quality and efficiency improvements for listed companies to achieve operating performance and profit levels.improve.

Dating specific investors will promote listed companies to deepen the reform of state-owned enterprises, stimulate the company’s endogenous growth vitality, strengthen the company’s comprehensive strength, and lay a solid foundation for the company’s long-term sustainable and healthy development.In addition, it also fulfilled its previous restructuring commitments and gradually eliminated peer competition.

The gas turbine technology broke through the monopoly, and domestic substitution promoted the market to enter a period of rapid growth. Guanghan Power undertook 703 core gas steam power business, which has obvious technical advantages and barriers.

Guanghan Power’s gas turbines have achieved technological breakthroughs and industrialization in both military and civilian products.

In terms of military products, Guanghan Power is the main supplier of gas power units and steam power units for large and medium sized naval vessels.

In terms of civilian products, Air Force Guanghan Power has broken through the foreign technology monopoly in the field of gas turbine-driven compressor units, achieved domestic production of 30MW gas turbines, and has obtained bulk orders for natural gas transportation projects.

Recently, the company’s gas turbine products have been implemented on offshore engineering platforms, which will further open up the space for the civilian product market and gradually transform into a new market for offshore engineering platforms, which will gradually increase market demand.

At the same time, the company plans to make integrated investments in the upstream and downstream industrial chain of gas turbines, and plans to make capital contributions1.

US $ 900 million in equity investment in Jiangsu Yonghan Special Alloy Technology Co., Ltd., Jiangsu Yonghan’s main product direction is precision casting of high temperature end parts required for gas turbines, which is the upstream industry of gas turbines and is expected to have synergy with the company’s gas turbine business.
We believe that the gas turbines produced by Guanghan Power, a subsidiary of China Power, are sufficiently competitive with foreign countries in terms of price and maintenance, and there are already prototypes in use, which will replace imported equipment and accelerate the localization process.

The performance of China Power Gas Turbine segment will enter a period of rapid growth.

All-electric power is in line with the development of the industry. Comprehensive electric propulsion facilities with a broad market space in the future are featured by flexible layout and fuel saving. It is suitable as a propulsion system for military ships. In the future, the ship’s propulsion system will advance to integrated power.

At the same time, domestic military and civilian ships have continued to increase their requirements for informatization and intelligence, which will generate huge market demand for integrated electric propulsion systems.

Shanghai Submarine, a subsidiary of the company, is a leader in the field of domestic electric propulsion systems. It has transitioned to the technical advantages of the core components of the propulsion system of the 712 subordinate of China Shipbuilding Industry Corporation, realizing ship electrical system products with single-axis propulsion power below 20MWAll localized.

On the basis of technological advantages, the company’s market share advantage is obvious, the military product sector has an absolute monopoly level, the market share has reached more than 90%, and the civilian product sector has also reached more than 70%.

We believe that all-electric power is the main development direction of future ship power. At present, it has taken the lead in implementing applications in 3,000-ton civil ships such as sea cruise ships, marine police ships, business ships, and scientific research ships. The continuous maturity of technology will gradually expand.To large and medium ships.

At the same time, with the continuous improvement of economy, there will be room for growth in civilian products. In the future, the company’s all-electric power sector is expected to reach an annual growth rate of more than 20%.

Benefiting from the construction of offshore floating nuclear power plants, the performance of nuclear power may accelerate. In the future, the market space for offshore nuclear power platforms will be about 40, and the market size will reach $ 100 billion.

Neptune, a subsidiary of China Power, was a leading manufacturer of civil nuclear power equipment business earlier. It has civil nuclear safety design licenses and manufacturing qualifications for nuclear-grade valves. EU CE, US API600 and API6D and other qualified companies have participated in the first ocean of China Shipbuilding Industry.The construction of nuclear power platform is mainly responsible for design, pipelines, valves, testing equipment, protective equipment and maintenance. The company assumes that the system accounts for about 15% of the cost of offshore nuclear power platforms.

We believe that with the resource advantages of the parent company of CSSC, Neptune will replace the market leader or even the occupier in the offshore nuclear power platform power equipment.

After the offshore nuclear power platform achieves mass production, it will significantly stimulate the company’s offshore nuclear power business development.

Full coverage of diesel engine types. After integration, the market influence greatly increased and surpassed the recovery of the new shipbuilding market. The company’s diesel engine business promoted accelerated growth.

The new shipbuilding market has experienced a recession period of nearly 10 years, starting to bottom out in 2017, and new orders have begun to accelerate growth, effectively driving the company’s diesel engine power orders growth.

Although the prices of these orders are still low, the profit margin of the final assembly manufacturers is still not in any contradiction of profitability and difficulty. Instead, the final orders favor the internal supporting enterprises. In fact, the decline in the order price will promote the final assembly plant to choose more domestic supporting facilities.Manufacturer’s equipment.

Therefore, the progress of domestically produced alternatives to conversion power systems has accelerated, and these orders will effectively drive the company’s diesel engine orders to accelerate growth this year and next.

In terms of capacity building, the company intends to invest in China’s Chuanchai to optimize and adjust the layout and process of the Qingdao plant to meet the demand for the 1 million horsepower marine low-speed diesel engine assembly capacity in the Yichang plant to move to the Qingdao plant, and to form a dual-fuel low-speed diesel engine.And final assembly capacity; transform and upgrade the production line in the Dalian plant, and improve the efficiency and quality of final assembly of marine low-speed diesel engines.

At the same time, the establishment of the Southwest Research Institute will further strengthen the company’s R & D and production capacity of core components for diesel engines, and increase the core competitiveness and industrial added value of the diesel engine business.

Earnings forecast and investment grade: The value-added indicates shareholders’ confidence in the company’s development. Maintaining the level of increase in holdings. We believe that the company is a leader in internally covered marine land power systems. It is expected to be in the all-electric propulsion system, gas steam power andOffshore nuclear power and other business segments achieved rapid growth.

Traditionally advantageous businesses such as diesel power and chemical power will integrate platform integration advantages and maintain steady expansion.

The operating revenue is expected to show a steady growth trend. The integration of various business segments has been completed, the scale and synergy effects have gradually emerged, and the company’s product gross margin may have steadily increased.

It is expected that the company’s net profit attributable to its parent from 2019 to 2021 will be 16 respectively.

2.1 billion, 18.

9.1 billion, 22.

35 ppm, an increase of 20 per year.

23%, 16.

67%, 18.

21%, the corresponding 19 to 21 years of EPS are 0.

94, 1.

10, 1.

30 yuan, corresponding to the current expected PE is 25.

82 times, 22.13 times, 18.

72 times.

If the completion of the transaction is considered, the net profit attributable to the mother for 2019-2021 will be 19 respectively.

05 billion, 23.

04 billion, 27.

80 ppm, an increase of 22 per year.

07%, 20.

97%, 20.

68%, the corresponding 19 to 21 years EPS are 0.

87, 1.

06, 1.

27 yuan, corresponding to the current expected PE of 27.

92 times, 23.

08 times, 19.

13 times.

Yili (600887): Cost control improves Q4 performance and profitability is expected to improve

Yili (600887): Cost control improves Q4 performance and profitability is expected to improve

The event company announced its 2018 annual report and achieved revenue of 789.

76 ppm, an increase of 16 in ten years.

92%, net profit attributable to shareholders of listed companies 64.

39 ppm, a ten-year increase of 7.


Looking at Q4 alone, it realized income of 182.

25 ppm, an increase of 17 in ten years.

57%, net profit attributable to shareholders of listed companies13.

92 ppm, an increase of 30 in ten years.


In 2018, the company intends to distribute a cash dividend of 7 to every 10 shares for all shareholders.

00 yuan (including tax), sent a 上海夜网论坛 total of 4,254,689,325 cash dividends.

60 dollars.

A brief review of the company’s revenue growth continued to achieve 793 revenue for 18 years.

53 trillion, ten years +16.

89%; revenue in the fourth quarter alone was 182.

26 trillion, ten years +16.

93%, basically continued the growth of the first three quarters.

Mainly benefiting from the product structure upgrade and the influence of channel sinking. For specific products, liquid milk realized revenue of 656.

79 trillion, ten years +17.

78%; milk powder and milk products realized income of 80 in the current period.

45 trillion, +25 for ten years.

14%; cold drink products realized income of 49 in the current period.

97 ppm, +8 for ten years.


Among them, “Golden Code”, “An Muxi”, “Chang Yi 100%”, “Chang Qing”, “JoyDay”, “Golden Collar”, “Qiao Lezi” and other key products achieved rapid growth, with revenue growth reaching 34.


From the perspective of the channel, the company drove sales growth through e-commerce, mother-baby stores, convenience stores and other channels. Specifically, the e-commerce business showed a 61% increase over the previous year, and the mother-baby channel revenue increased 32%.

Finally, by the end of 2018, the company controlled 1.75 million offline outlets, an increase of 23 over the same period last year.

2%, constantly develop blank outlets, the company directly controls the village-level outlets close to 60.

80,000, an increase of 14 from the previous year.


The penetration rate of domestic channels has further improved. According to statistics, the company’s room temperature liquid milk market penetration rate was 82 in 2018.

3%, an increase of 2 per year.


In addition, the company continued to strengthen innovation and adjusted product structure and upgrade through the promotion of new products. In 2018, the sales ratio of new products reached 14.

8%, an increase of 5 per year.

6pct, has a positive pulling effect on revenue growth. The company with an eye-catching report on profit growth in Q4 achieved net profit of 64.

4 ‰, an increase of 7 per year.

31%, net profit attributable to mothers in the fourth quarter alone13.

92 ppm, an increase of 30 per year.


The profit growth rate in the fourth quarter alone was significantly higher than the previous average growth rate. First, the operating cost growth rate in Q4 2018 was 11.

75% is significantly slower than Q4 revenue growth (+17.

58%), which has a certain relationship with the product structure and other factors; the second is that the Spring Festival 19th Spring Festival cited the 18th Spring Festival earlier, which has a positive effect on the growth of Q4 performance in 18 years; the third is that Q4 interest income increased by more than 67 million,Contribute profits.

Generally speaking, the growth of the company’s net profit on the income side is mainly affected by the expense side. For major events such as the 2018 World Cup, the company has expended a lot of marketing expenses, which has put some pressure on profits and can sell expenses 197.

72 ppm, an increase of 27 in ten years.

39%, of which 109 are advertising marketing fees.

55 ppm, an increase of 33 in ten years.


Gross profit margin increased steadily, high selling expenses limited net profit margin company’s gross profit margin was 37 in 18 years.

82%, ten years +0.

54 points; gross margin in the fourth quarter alone reached 38.

34%, ten years +3.

21 points.

In terms of products, the company’s gross profit margins for liquid dairy products, milk powder and dairy products and cold beverage products were 35.

21%, 54.

78%, 45.

06%, an increase of 0 over the same period last year.

04pct, 0.

83 points, 1.

98 points.

On the whole, the company’s gross profit margin remained stable for 18 years. Basically: 1. After years of lean operation, the company has gradually formed a scale effect. Centralized procurement of main raw and auxiliary materials has improved the company’s capital use efficiency.And bargaining power, so the effect of cost control is better, the price of raw milk in the body in 18 years increased by about 3%.

2. Continued product structure upgrades and the increase in the proportion of high-end products will directly increase the gross profit margin, especially during the Spring Festival peak season in the fourth quarter. Gift consumption will increase and high-end product sales will be better than other products.

The company’s 18-year net interest rate is 8.

17%, a decrease of 0 from the same period last year.

72pct; net profit margin for sales in the fourth quarter alone was 7.

70%, an increase of 0 over the same period last year.

8 points.

Overall, the decline in the company’s annual net interest rate is primarily due to the company’s 18-year sales expense ratio increasing to 24.

85%, an increase of 2 over the same period last year.

04pct, of which the advertising marketing rate is 13.

77% (+1.

71 points), the sales staff’s salary accounted for 4%.

58% (+0.


In the fourth quarter alone, the growth of net profit margin was mainly affected by two aspects. First, the increase in gross profit margin in Q4 directly led to an increase in net profit margin; in the second aspect, in terms of financial expenses, the company’s financial expenses in Q4 in 2018 decreased by -0.35%, a decline of 0 every year.

58pct, which was due to a decrease in more expenditures and an increase in interest income from bank deposits during the period.

The third is the current management expense ratio of 5.

04%, a decrease of 0 compared with the same period last year.

47pct, the above all have a direct hindrance to the quarter’s profit.

Continued high dividend policy The company insists on dividends and returns to investors. In 2018, the company plans to distribute a cash dividend of 7 to every 10 shares of all shareholders.

00 yuan (including tax), sent a total of 4,254,689,325 cash dividends.

60 yuan, the dividend distribution rate reached 66.

04%, foreign exchange rate 2.


Profit forecast: The company’s income-side new products will develop smoothly this year, the product structure upgrade performance will be relatively stable, and the income-side performance will be better. We predict that the company’s net profit for 2019-2021 will be 76.

35, 85.

79, 94.

74 trillion, the corresponding EPS is 1.

26, 1.

41, 1.

56 yuan / share, corresponding P / E is 20 respectively.

76, 18.

48, 16.

73 times.

It is recommended to pay attention and maintain the “Buy” rating.

Risk reminders: food safety risks, overseas business development risks, raw milk price fluctuation risks, etc.

Why look at beautiful women, men are satisfied

Why look at beautiful women, men are satisfied

According to the Daily Telegraph, recent research by US researchers has found that men get more “satisfaction” from photos of the opposite sex than women.

  Studies have found that the pleasure that men get when they see beautiful women’s appearance is equivalent to eating curry or making money.

Women, however, did not get much satisfaction from watching male photos.

  A survey published in the recently published Journal of the Royal Society of Biology stated that brain scans show that when men look at a woman’s face or body, they touch the “satisfaction center” of the brain while women are staringNot when the opposite sex.

Reports are inadequate, and men are more likely to make efforts and money to look at photos of the opposite sex.

  Benjamin at the Duke University School of Neurology Research Center?

Dr. Hayden said that the research results can be used to explain why men consume more pornographic products than women, and why Playboy is always better than Playboy.

  Hayden said the study showed that the photo examples follow the same principle, and that more moving photos represent satisfaction as described above.

Satisfaction also motivates people to work harder and can be exchanged for other types of satisfaction-that’s why men buy photos of naked women.

  However, for women, the influence of appearance charm is small, not even.

Cross country ski must-have weapons

Cross country ski must-have “weapons”

Do you like cross-country skiing?
Take a look at the “weapons” necessary for cross-country skiing.
  First, snowboard Off-road technology is divided into traditional and freestyle, and this difference also exists in snowboarding.
The difference between traditional boards and free boards is mainly in structure and length.
  1. Free board: The bottom of the free board is very smooth, thus forming a large wax-coated layer.
The role of this surface is to glide.
When choosing a pair of freestyle off-road boards, you should pay attention to the following points: The length of the snowboard should be 10 to 15 cm longer than your height, but you must also consider the hardness (tension) of the snowboard and your weight.
Snowboards are generally labeled with the appropriate ideal weight.
  2. Traditional board: The traditional board has a very obvious arched arc (that is, there is a certain tension), and is divided into a climbing part and a sliding part.
The length of the snowboard is height plus 30 cm.
Similarly, the tension of the snowboard must be adapted to the weight.
This can be measured by the following method: standing on the snowboard, measuring the gap between the bottom of the board and the ground, the specific measurement position is between the two marks from the heel to the snowboard.
If this gap can just pass a piece of paper, the tension of the snowboard is appropriate.
If you are testing with only one snowboard (that is, your entire body weight falls on one board), the paper should not pass through this gap.
  2. Snowshoes 1. The upper of freestyle ski shoes should be higher than the ankle bone to form a certain support. At the same time, the ankle joint should be able to move freely to ensure that the best position can stand on the snowboard at any time.
  2. Traditional ski shoes: When skiing traditional techniques, people usually wear lower shoes.
This guarantees a certain amount of support, and also allows the ankle to have a maximum range of motion, thereby achieving the ideal skiing action.
  3. Multi-purpose ski shoes: If you do not want to choose shoes based on the restrictions of the project, you can also choose a multi-purpose shoe, which is suitable for both freestyle and traditional technical requirements.
  3. Ski poles There are many ski poles to choose from, and you should choose the appropriate length according to different items.
  The principles are: Traditional: Height × 0.
85 Freestyle: Height × 0.
9 4. Clothing When choosing clothing, you must ensure that your body can move freely and not be too tight.
All clothing should be highly elastic and windproof, waterproof, good, easy to maintain, and washable.
When choosing gloves, you should pay attention to it, it feels a little tighter when you first wear it, and you must not choose one with wrinkles, so as to avoid blisters on your hands.

Walking fitness-easy to get out of good body

Walking fitness: Get out of your body easily

A survey revealed.

There are 37 million people who lose weight by walking around the world.

Effective walking has become a healthy and fashionable lifestyle, and it has become one of the ideal choices for many people with a keen sense of touch to shape their perfect body and maintain a healthy state.

  Walking to lose weight for a healthy bodybuilding perfect experience Walking to lose weight is regarded as a “return to nature” way to lose weight.

It does not require the help of drugs, fitness equipment, etc.

You don’t need to spend too much time and money to realize it, and you can say goodbye to the negative consequences of diet and weight loss and damage to your body.

People just need to stick on the way to and from class, and walk on the way to and from work may bring unexpected body-building effects.

  This is also recognized by experts.

Sports medical scientists have found that striding is the best aerobic exercise.

Long-term striding can increase energy consumption in the body and promote the use of excess aunts in the body.

Adults who are obese because they eat more and eat less, if they can walk daily and control their diet properly.

Will receive the effect of weight loss.

  Clinicians tell us that insisting on walking every day can obviously improve the nutrition of the heart and keep the arterial wall elastic.

A series of anti-atherosclerotic substances are produced in the blood in the body.

Thereby reducing the possibility of people suffering from cardiovascular disease.

Self-assessment of psychological personality maturity


Self-assessment of psychological personality maturity

An experienced person in life is usually a mature person.

Such people are full of confidence in themselves in everything they do, believe in their abilities and thoughts, and are good at using their knowledge and knowledge.

At work, he can calmly face everything, and he will not give up even in the face of major setbacks; he is aware of the relationship with his colleagues.

He has his own unique vision and pursues a rational, permanent, practical principle of life, not a life principle formed by imagination, prejudice, and superstition.

  There are 10 questions in this test. There are options after the questions. Please choose the answer that is most suitable for you.

  The test begins 1. The degree to which others like me is: A. Some people like me very much, others don’t like me at all. B. Most people like me a little, but don’t regard me as a confidant. C. No one likes me.  D. Most people like me to a certain extent. E. I do not understand the opinions of others. 2. In my interactions with others, I usually: A. I like to draw attention to others. B. I want others to pay attention to me, butI want to show it clearly. C. I like others paying attention to me, but I don’t deliberately pursue it. D. I don’t like others paying attention to me. E. I don’t care about whether it will attract attention.The correct attitude is: A. Adapt yourself to the surrounding social living environment. B. Try to use the favorable factors in the living environment to develop yourself. C. Transform the negative factors in the living environment and make the living environment better. D. Encounter a bad social living environment.At that time, I must make up my mind to get out of this environment and transfer my progress to another place. E. No matter what the living environment is, I must work hard to live up to my life. 4. I have trouble in work or study.When it ‘s difficult, I often: A. Ask anyone who knows more than me B. Ask only my close friends C. I always do my best to solve it independently, but it ‘s not possible, and ask othersHelp D. I clenched my teeth and did not ask others to help E. I didn’t find anyone to ask for help 5. If I lost in the game, my usual approach is: A. Find the reason for the loss, improve the technology, and strive for the nextI can win B. I admire the one who wins C. I think the other party is not great, and I am better than the other party D. I think it is normal to win or lose.The reason is good luck. If you are lucky, you will win each other. 6In general, people who disagree with me are: A. People with strange ideas and incomprehensible B. People with no cultural knowledgeC有相当理由坚持自己看法的人  D生活阅历和我不同的人  E素养比我丰富的人。  7My view on fortunetelling by looking at palms and measuring eight characters is: A. I found that fortune telling understands the past and future, and is very accurate. B. Fortune tellers are mostly crooks. C. I ca n’t see whether fortune telling is nonsense or trueMakes sense D. I do n’t believe fortune telling can predict people ‘s past and future. E. Even I know that fortune telling is superstition, but I always try it. 8. When I encounter a major setback in my life, I will feel: A.完了了  B也许能在其他方面获得成功,取代补偿C不甘心失败,决心不惜付出任何代价,一定要实现自己的愿望D没什么大不了的,我可以调整自己的计划或目标E自己的It ‘s not correct to have such high expectations or ambitions 9  My attitude towards change is: A  always ready for adversarial transformation B  only change on issues that are of interest to me C  I rarely progress with people and like myself独立思考各种观点的利弊D我不喜欢模仿,尽量避免之E无所谓  10遭受别人指责时,我通常的反应是:A分析别人为什么指责我,自己在某个地方有错B保持沉默,毫不在意,将一切指责放置之脑后C也对他进行指责  D尽量照别人的意思去做  E如果我认为自己是对的,就为自己辩护  计分标准10  选项得分题号A B C D E  1、+2 -3 +8 -22  -20  2、+8 +3 +4 +30 +4   3,+ 8 -4 +64 +80 +4 4,-2 -45 +80 -3 +4 5, -46 -3 -2 +8 +40 7 -5 +3 -2 +10 0 8 -4 +100 +5 -39 9, -4 +80 -2 +3 10 10, +8 -3-40 +4Get up and compare the results of the subsequent tests.

  The test result is below 0: you are still very naive and still immature in dealing with social life issues.

You like to act on your own instincts and momentary feelings. You are impulsive, unaware of the general situation, or go to the other extreme, that is, shrinking when you are in trouble, afraid to show your face, lonely and inferior.

You can easily offend people and be deceived. You run into walls in social life and you cannot achieve your ideals and goals.

This is not in line with the requirements of modern social life, you must be committed to mature yourself as soon as possible.

30 points: Your personality is not mature enough.

You are not good at dealing with various problems and contradictions in social life, you are not good at observing the various factors that affect problems, you cannot accurately predict the results of your actions, and you cannot adapt well to complex social life.

60 points: Your personality maturity is medium.

You have grasped and dealt with some things in life properly, but you are not sure about other things, so that you are helpless or mishandled.

Your personality is twofold: half seasoned and half naive. You also need to slowly practice in social life.

  Above 60 points: You are a mature and experienced person.

Everyone with a mature personality is at ease in the society and is at ease.

They know how to properly handle the various problems that individuals encounter.

They can accurately judge: the way to deal with a problem is effective, and which way will cause adverse consequences, so they can choose an optimal solution.

Such people often become the object of others to ask and imitate.

  Psychological analysis Most mature people have rich experiences, and a large number of failed and successful experiences have been replaced.

But the degree of personality maturity is not necessarily proportional to the age of the person.

What should a man do if he can’t help the urine?

What should a man do if he can’t help the urine?


Pyelonephritis 1.

Patients with urinary tract can be considered pyelonephritis.

This worm is an organ infection in the deep part of the body and is often accompanied by a systemic quenching reaction or impaired tubular function.


Older men caused by urinary tract infections can cause urinary tract obstruction due to benign prostatic hyperplasia, which in turn causes cystitis.

Cystitis occurs often because the bacteria in the vulva are retrograde along the urinary tract.


Urinary incontinence is a symptom that refers to the loss of urine loss and is not autonomously replaced.

Normal human urine storage and urination are carried out under the coordination of bladder pressure and urethral pressure. Therefore, any cause of bladder pressure during storage or urethral obstruction may cause urinary incontinence.


Psychological reasons are a reason. Some male friends always forced themselves to go to the toilet before going to bed at night, and over time, they would develop psychologically compelling diseases, and they could not help but slowly urinate.


Affected by living habits and seasons, the amount of drinking water, the number of drinking more, there may be frequent urination.

If the thirst is not obvious, drink tens of milliliters of water, and it may take tens of minutes to urinate.

Affected by climate and climatic factors, there is less sweating in winter, less water loss on the body surface, and water needs to be excreted through the kidneys, and the number of urine may increase.

In summer, there is more sweating, less urine, and less urine.

A nest behind the ear, special hypoglycemic blood transfer!

Press 10 seconds a day, the benefits are true!

A nest behind the ear, special hypoglycemic blood transfer!
Press 10 seconds a day, the benefits are true!

In the view of Chinese medicine, the health of the body can be inferred by observing the ear.

As far as the ear is concerned, the normal person’s ear is rosy and shiny, which is the performance of the congenital kidney essence overlap; if the ear is dry and dull, the reaction body is insufficient.

The auricle is dry and burnt, mostly in the late stage of infectious diseases or diabetes, because at this stage, the body’s Yin fluid has been seriously burned.

And behind the ear there is a special “healthy nest” – “behind the ear”, which is very good for lowering blood sugar and preventing diabetes complications!

Learn a massage action, the benefits are amazing!

The first nest of hypoglycemic blood: the posterior fossa of the ear is the depression behind the earlobe.

The vagus nerve is distributed deep in the posterior fossa, which stimulates the excretion of the vagus nerve and promotes the secretion of insulin, thereby effectively lowering blood sugar.

Everyone knows that diabetic complications are more serious than diabetes itself, and massaging the back of the ear can stimulate the gas of the three cokes to help prevent diabetes complications.

Massage method: slowly press the back of the ear with your thumb, slowly exhale, continue for 5 seconds and then let go, so repeat 10 times?
15 seconds, massage once a day for lunch and half an hour after dinner.

The back of the ear is a “health nest” that specializes in reducing blood sugar and regulating blood. It is very beneficial for reducing blood sugar and preventing diabetic complications.

Press 10 seconds a day to get this kind of effect, and be sure to send it to friends who need it!

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Conclusion: I hope this article can help you and your family!

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