Guanghui Automobile (600297) Semi-annual Report 2019 Review: Short-term pressure on profit growth and contrarian growth

Guanghui Automobile (600297) Semi-annual Report 2019 Review: Short-term pressure on profit growth

Companies with revenue growth of + 3% and performance in line with expectations achieved revenue of 807 in the first half.

1 ‰, an increase of 3 per year.

28%, net profit attributable to mother 15.

100 million, down 28 a year.

42%, performance is in line with expectations.

Revenue in the second quarter was 434.

100 million, an increase of 12 every year.

22%, net profit attributable to mother 7.

09 billion, down 28 a year.

61%.

H1 achieved new car sales42.

880,000 units, previously +6.

09%, achieving 401 repairs.

300,000 units, +3 in the past.

21%. Against the backdrop of a 14% decline in industry sales, the company has grown against the trend.

The automobile retail slump, the company’s gross profit margin was under pressure in the first half of the year.

14%, a decline of 0 per year.

62 points.

In terms of business, the gross profit margin of vehicle sales was 3.

9%, a decline of 0 per year.

22pct, the automotive retail environment has deteriorated, and the gross profit margin of vehicle sales has shrunk; the gross profit margin for repair services is 35.

4%, down by 1 every year.

18 points, mainly to increase customer stickiness, control the churn rate and lock customers back to the store for a long time, due to the company’s maintenance expenses for customers; commission agent gross profit margin was 77.

6%, increasing by 0 every year.

38pct, mainly due to the continuous optimization of the commission’s main business structure, and the scale effect has begun to appear; the gross profit margin of car rental is 66.

8%, a decrease of 9% each year.

69pct, due to the continued tightening of the overall funding environment, increased capital costs and increased market competition.

Lean Management, Three Fees Steady Report The ratio of three fees in series.

57%, a slight decrease of 0 every year.

19pct, of which selling expenses cost 3.

18%, increasing by 0 every year.

09pct, in the context of the industry, in order to increase the company’s business scale, the marketing team, marketing 深圳桑拿网 efforts to expand, employee compensation and labor costs, marketing and service fees, commission service fees and other sales costs increased; management costs decreased.

60%, a decrease of 0 every year.

13pct, the company reduced the cost of lease property management, office and travel expenses, business entertainment expenses; financial expenses1.

79%, a decrease of 0 every year.

15pct, exchange rate fluctuations caused a reduction in exchange losses in the current period compared with the previous year.

Leading auto dealers. Maintaining an “overweight” rating. Leading domestic dealers. The market share continues to increase. The brand structure improves. Actively explores the aftermarket business of automobiles. Benefiting from the change in the industry, it is affected by the slump in automobile sales in the short term.We will make a profit for the year 19/20 from 0.

62/0.74 is reduced to 0.

41/0.

46 yuan, the current corresponding dynamic price-earnings ratios are 9 respectively.

3/8.

3x, maintaining the overweight level.

Risk warning: sales volume continues to decline, sales model changes, and goodwill is impaired.

Donggang Co. (002117) 2018 Annual Report Review: Product Adjustment Expands High-priced Paper Inventory Q4 Under Pressure 19Q1 Performance Enhancement Angle of Attack

Donggang Co. (002117) 2018 Annual Report Review: Product Adjustment Expands High-priced Paper Inventory Q4 Under Pressure 19Q1 Performance Enhancement Angle of Attack

Investment Highlights: The company announced its 2018 annual report, and net profit attributable to mothers increased by 10 per year.

6%, high dividends.

The company achieved revenue of 15 in 2018.

4.6 billion, an annual increase of 8.

1%; net profit attributable to mother 2.

5.7 billion, an increase of 10 in ten years.

6%, in line with our expectations; Q4 achieved revenue of 3 in a single quarter.

80 ppm, 10-year average1.

4%, Q4 returns to mother’s net profit 0.

61 ppm, a ten-year average of 7.

3%.

The profit distribution plan for 2018 is: a cash dividend of 7 yuan (including tax) will be distributed for every 10 shares, and 5 bonus shares will be distributed.

Low gross profit margin business divestitures and orders not yet delivered, revenue growth in 18Q4 declined; high-priced paper inventory, pressure on profitability.

1) Starting from Q3 2018, the low gross profit margin business will be gradually discontinued.

As the paper price rises, the low-margin office paper business and the entrusted printing paper business are below the break-even line. We estimate that the two businesses contributed about 35 million revenue in the fourth quarter of 2017 (2017 revenue of about 90 million yuan).

The company shut down two businesses from Q3 2018, which initially caused a certain drag on revenue formation.

2) Insufficient production capacity and some orders have not been delivered.

Due to the rapid increase in orders received in December 2018, the company’s related production capacity is limited, and some orders have not been delivered before the end of the year, and no revenue has been formed for the time being.

3) The impact of high-priced raw material inventories put pressure on gross profit margins.

Because the company has a certain stock of raw paper, although the price of Q4 paper has fallen, the company is still digesting high-priced inventory, and the gross profit margin of Q4 has fallen by 6 from the previous month.

13pct, down 2 a year.

42 points.

New business continued to grow at a high rate, contributing new profit drivers.

1) Mass production of bank cards drives the volume of overlay products: In 2017, the company won the bid for bank card orders from major banks such as Bank of China, Agricultural Bank of China, etc. The product test period of the order office in 2017, and new orders received at the end of 2017 for mass production.In 2018, the company’s overlay product business increased.

We achieve revenue from overlay businesses2.

4.2 billion, an annual increase of 62.

8%.

2) Archive storage drives 夜来香体验网 high technical service revenue growth: In 2018, the company’s archive storage business and lottery business continued to grow at a high rate, and the main growth driver of technical services was built.

The archive business achieved revenue of more than 90 million yuan, an annual increase of 67%, and a net profit of 9-10 million yuan; the lottery realized revenue of 29-30 million yuan, an increase of 107% in revenue, and a net profit of more than 4 million yuan; electronic ticketing revenue of 40 million yuan, annuallyAn increase of 40% can approach 8 million.

The development of file storage for small, medium and micro customers will double the revenue growth in 2019; the electronic ticketing industry will continue to innovate during the year, and the profit model will be profitable by switching.

Revenue has resumed 武汉夜网论坛 growth, costs have improved significantly, and new businesses have continued to grow. We expect Q1 2019 to meet the results.

Orders for the main printing industry in December 2018 were delivered in 2019, and the concentration of beneficiary industries increased, and orders achieved high growth.

We expect the company’s high-priced inventory of finished paper has been digested in January 2019, and a drop in paper prices will bring significant improvements in the company’s costs.

New businesses such as the archival storage business continued to increase volume, contributing new growth momentum.

The product structure of traditional businesses has been adjusted to improve profitability, the volume of new businesses has accelerated, and the drop in paper prices will gradually be realized on the cost side. Performance is expected to meet the inflection point and maintain the increase in holdings!

The company’s continuous layout in the fields of smart cards, file storage, electronic ticketing, and three-dimensional sales of lottery tickets has transformed the Internet information comprehensive service provider and continues to advance.

The company’s employee shareholding plan was launched in February 2017 (volume 2.

5.4 billion, with an average price of 25.72 yuan / share).

Affected by the adjustment of the traditional business structure, we maintain the net profit attributable to mother to 3 in 2019-2020.

3.7 billion and 4.

40,000 yuan, an increase of 4 in 2021.

8.7 billion profit forecast, corresponding EPS is 0.

93 yuan, 1.

11 yuan and 1.

34 yuan, currently expected (19.

(11 yuan) Corresponding to 2019-2021 PE is 21 times, 17 times and 14 times, respectively, to maintain overweight!

Huaxi Biological (688363) in-depth analysis: technical advantages consolidate the price barrier downstream extension to achieve high growth

Huaxi Biological (688363) in-depth analysis: technical advantages consolidate the price barrier downstream extension to achieve high growth

Huaxi Bio-Global Hyaluronic Acid Leading Company: Huaxi Biological is a leading company of hyaluronic acid (hyaluronic acid).

Advanced fermentation and cross-linking of two major technology platforms, Huaxi Biological has achieved four major technological breakthroughs, has applied for 109 patents, obtained multiple national, provincial and ministerial reforms, and gradually extended product types from hyaluronic acid raw materialsIt covers all types of bioactive substances, biomedical materials and functional skin care products, covering the complete industrial chain from hyaluronic acid raw materials to related end products.

In terms of sales volume, in 2018, Huaxi Bio has accounted for about 36% of the global hyaluronic acid market and is a global leader in hyaluronic acid.

Hyaluronic acid raw materials are the company’s core business, and each business has grown steadily: from 2016 to 2018, the company’s annual compound annual growth rate of revenue was about 31%.

The compound annual growth rate of net profit attributable to mothers is about 25%.

In the first half of 2019, the company realized a 44% increase in revenue and a 40% increase in net profit attributable to its parent. The company expects that the net profit in the first three quarters will increase by 30% to 40%.

In terms of business, in 2018, raw materials products, medical terminal products, and functional skin care products accounted for about 52%, 25%, and 23% of revenue. The business compounded annual growth rate of each business in the past three years was about 19% and 28%., 113%.

The highest concentration of technical advantages, the rapid expansion of the raw material business benefit industry: Huaxi Biotech’s R & D expenditure as a percentage of operating income is at a high level in comparable companies. R & D drives technological breakthroughs, and the company’s hyaluronic acid fermentation metabolism reaches 10?
13g / L, higher than the industry level of 6 in the literature?
7g / L.

Beyond the higher growth rate of the industry, the company builds the value advantage of hyaluronic acid products. The sales unit price of Huaxi Bio-injection grade raw material products is 28% and 20% lower than the 南京桑拿网 purchase price of similar products of Haohaishengke and Aimeike.

Based on the cost advantage of technical advantages, Huaxi Bio has approximately 36% of the global sales volume of hyaluronic acid raw materials, ranking first in the world, and approximately 80% of the domestic pharmaceutical-grade hyaluronic acid market.

Leading advantages and industry growth have promoted the rapid expansion of Huaxi’s biological raw materials business. The annual growth rate of raw materials business from 2016 to 2018 was about 19.

3%, the income of each raw material product continued to grow steadily.

The skin medical beauty industry has expanded, and orthopedic injection has been successfully developed: medical terminal products can be divided into skin injection, orthopedic injection, and ophthalmic products.

It is said that the big data of new oxygen, the domestic injection medical beauty market is still dominated by hyaluronic acid, the injection medical beauty hyaluronic acid market growth rate of about 53%.

At present, Huaxi’s skin hyaluronic acid filling market has a market share of about 12%. In the future, the hyaluronic acid injection medical beauty market is expected to benefit from the increase in medical aesthetic penetration and continue to achieve rapid growth.

  Huaxi Bio-dermal Hyaluronic Acid product line goes low-end to high-end, which is expected to continue to drive performance growth.

The orthopedic injection market has been successfully developed, and its market share has gradually increased to 9.

1%, direct sales development pushed up the average factory price, and scale expansion increased gross profit margin.

Ophthalmic hyaluronic acid products are still being cultivated and currently account for a small proportion.

Benefiting from online and offline trends, skin care brands are expected to enter a period of rapid development: the first three quarters of the distribution of cosmetics above double growth, cosmetics high-end trend continues, in 2017, 2018, the high-end cosmetics market achieved over 25% growth rate.

The final expected ingredients of cosmetics are mainly chemical raw materials, and the growth rate of fermented raw materials-related products is significantly faster than that of natural raw materials.

High-end cosmetics and emphasis on ingredients are good for hyaluronic acid-related products.

  Consumer goods industry, revenue scale up to 1?
The $ 300 million brand is expected to achieve a break-even and a scale of more than 3?
After 500 million years, strive to achieve rapid growth, the company’s cosmetics revenue in 2018 has reached 2.

9 ‰, an annual increase of more than 2 times, the brand is expected to enter a rapid growth channel.

The company’s production capacity is close to increasing, and the investment projects are expanding. The company’s business scale is expanding rapidly, and the production capacity is close to change.
The company’s fund-raising project was invested in the upgrading of the research and development center, the Tianjin sodium hyaluronate project, and the life and health industrial park project, occupying a total of about 31.

54 million, investment projects to expand production capacity and lay a solid foundation for future growth.

The capacity expansion plan of a typical company integrated in the hyaluronic acid industry chain, the production capacity of Haohaishengke’s fund-raising project is about the original two, and the existing fund-raising project planned by Aimeike is nearly 4 times.Build capacity.

Typical companies value the good development trend of the industry in the future, and the expansion of industry capacity in the future may intensify internal competition in the industry.

Investment suggestion: Huaxi Bio is a global leader in hyaluronic acid, technical advantages consolidate price barriers, consolidate leading hyaluronic acid raw materials, expand the industry of skin medical beauty, orthopedic injection has been successfully cultivated, cosmetic brands have been successfully promoted, and fundraising projects have consolidated the foundation for future growth.
We predict that the company’s annual revenue from 2019 to 2021 will be 1.

21, 1.

55 and 1.

97 yuan.
Return on net assets were 21 respectively.

7%, 22.

7% and 23.

5%.
At present, the company’s science and technology innovation board is listed, and the market has a high degree of attention. The company’s PE (2019E) is about 78 times and PEG (2019E) is about 2.
.

5 times, 2 times higher than the average PEG (2019E) of comparable companies.

0 times.

Covered for the first time, given the “overweight-A” proposal, and recommended active attention.

Risk Warning: 1.

Technology upgrades or challenges to the company’s R & D capabilities; 2.

The production capacity of some products is close to the highest; 3.

The rapid expansion of production capacity of typical companies or intensified market competition; 4.

4. Botulinum toxin competes with hyaluronic acid in the medical beauty injection market; 5.

The increase in traffic costs and changes in the traffic structure of typical platforms make it difficult to cultivate new brands.

AVIC Optoelectronics (002179): Focusing on the conversion premium of photoelectric conversion bonds, the stock market may usher in a short window of allocation

AVIC Optoelectronics (002179): Focusing on the conversion premium of photoelectric conversion bonds, the stock market may usher in a short window of allocation

Investment highlights: Event: The company issued the first redemption announcement of “optical conversion bonds”: the company’s stock closed on 15 trading days for 30 consecutive trading days from August 2, 2019 to September 12, 2019The price is not less than 40.

13 yuan / share, has triggered a conditional redemption clause.

On September 16, 2019, the company’s consolidated board of directors passed a relevant resolution and decided to exercise the conditional redemption right of “optical-to-electrical debt”.

Converted debt redemption background profile: AVIC Optoelectronics (002179.

SZ) publicly issued 13 million convertible bonds on November 5, 2018, each with a face value of 100 yuan, with a total issuance of 1.3 billion U.S. dollars, with a maturity of 6 years.

Photoelectric to debt (128047.

SZ) was listed on the Shenzhen Stock Exchange on December 7, 2018, and entered the conversion period on May 9, 2019. The initial conversion price was 40.

26 yuan / share.

On May 16, 2019, the company implemented the 2018 equity distribution, and the conversion price of photoelectric conversion bonds was adjusted to 30.

87 yuan / share.

The compulsory redemption clause stipulated in the company’s “Prospectus” 深圳养生会所 is: After the convertible bonds are terminated or the compulsory redemption conditions are triggered, the company will redeem all unconvertible convertible bonds at the par value of the bond (100 yuan) plus the currentAccrued interest rate, which will be much lower than the market value of the underlying stock.

The compulsory redemption condition is: during the period from May 9, 2019 to November 5, 2024, if the company’s stock meets at least 15 trading days out of 30 consecutive trading days, the closing price is not lower than the current conversion price30 years old

130 yuan (including 130%) at 87 yuan / share, or 40.

13 yuan / share.

Details of the redemption system for convertible bonds: According to the Shenzhen Stock Exchange, after the company decides to redeem the redemption right, it should be released at 武汉夜生活网 least within five trading days after the first redemption condition is met (that is, September 16 to September 20, 2019)The three redemption implementation announcements announced the relevant redemption of the holders of the “optical conversion bonds”.

The announcement of the first redemption of convertible bonds clarifies the redemption registration date, redemption procedures, and other redemption procedures and time schedules. The specific content is as follows: (1) “Photoelectric Convertible Bonds” redemption registration date: October 29, 2019, The company will refund the full refund to the “Photoelectric Convertible Bonds” (2) “Photoelectric Convertible Bonds” registered on the redemption registration date after the market closes. Redemption date: October 30, 2019 (3) “Photoelectric Convertible Bonds”Redemption price: 100.

20 yuan / Zhang (including current accrued interest, the current annual interest rate is 0.

2%, and the current interest rate includes tax), the company will redeem all unconvertible convertible bonds at that price on the redemption date. (4) “Photoelectric Convertible Bonds” Stop Trading Day: October 16, 2019.The trading hours of the announcement date of the reversion announcement to October 15, 2019, the “optical conversion bonds” can still be traded normally. (5) The “optical conversion bonds” will stop the conversion date: October 30, 2019, published in the redemption announcementDuring the trading hours from October 29, 2019, the “optical conversion bond” can still be converted normally. If you choose to participate in compulsory redemption and conversion, you must ensure that the market closes on the registration date (October 29, 2019).Former holders of “optical conversion bonds”, according to the convertible bond T + 0 trading system, can choose to buy at the latest trading time on the day of redemption registration and hold to close.

Until October 15, 2019, holders can still choose to trade convertible bonds. Until October 29, 2019, holders can still carry out conversions. If held to the redemption date, all the shares heldConvertible bonds will be forcibly redeemed.

Discussion on the arbitrage of the convertible bond system: For investors, if they choose to participate in the compulsory conversion of shares, they need to ensure that they hold “optical convertible bonds” before the close of the redemption registration date (October 29, 2019).Debt T + 0 trading system, you can choose to buy at the latest trading time on the day of registration of the refund, and hold it until the market closes.

Until October 15, 2019, holders can still choose to trade convertible bonds, and until October 29, 2019, holders can still convert into shares.

According to the manifestation, according to the closing data on September 18, 2019, AVIC’s closing price was 41.

41 yuan / share, the current price of photoelectric conversion bonds is 133.

80 yuan, the calculation can get the expected increase of 134.

14 yuan, conversion price premium -0.

26%; As the current conversion premium of the photoelectric conversion bonds is negative and the absolute value is reduced, there is significant room for cross-market arbitrage.

The specific calculation method for the conversion premium rate is: suppose you buy a conversion bond now, one 133.

80 yuan, each can turn 100/30.

87 = 3.

24 shares, according to the latest closing price of the main stock of AVIC, 3.

Market value of 24 shares 3.

24 * 41.

41 = 134.

14 yuan; therefore, the corresponding conversion premium 133.

80/134.

14-1 = -0.

26% (the specific calculation method for the conversion premium is shown here).

Discussion on conversion bond investment opportunities: Focus on changes in the conversion premium rate. If this indicator is negative in the future and the absolute value is sufficient to measure, investors can consider the following arbitrage strategies between convertible bond market and stock market:The latest conversion premium rate, before the day of October 16, 2019, in the bond market, waiting for machines to buy “optical conversion bonds”, assuming the conversion premium offsets the negative and the absolute amount is large enough. Considering transaction costs, liquidityAnd other trading mechanisms. Before the redemption date, the debts will be held in accordance with the requirements to convert into shares, and then the shares will be sold in the underlying market. It is expected that there may be cross-market arbitrage between the bond market and the stock market. Investment risk and tradingCosts please investors to pay attention.
(2) Considering that there may be a certain selling pressure after the conversion, investors can consider selling short stocks in the stock market and waiting for the opportunity to buy “photoelectric conversion” on the bond market before October 16, 2019.Debt “, taking into account transaction costs, liquidity and other trading mechanisms and expenses, convert the holding bonds into shares before the refund date, and then buy and return the stocks to the stock market. It is expected that there will beInvestors should pay attention to the possibility of cross-market arbitrage, investment risks and transaction costs.
Maintain profit forecast and buy rating.

Maintain the company’s net profit attributable to mothers for 19/20/21 years at approximately 12.
.

51/17.

60/22.

310,000 yuan, the EPS in 19/20/21 is about 1.
.

22/1.

71/2.

17 yuan / share, currently sustainable (2019/09 / 18,41.

41 yuan / share) corresponding PE is 34/24/19 times.

The company is an outstanding enterprise in the world connector industry and domestic defense technology industry that has both product competitive advantages and perfect governance structure. The company is in the acceleration phase of a new round of military procurement expansion cycle, and merges new products into production.Cycle; the company continues to optimize the customer structure of civilian products and control production costs, promote product upgrades and category expansion, and its profitability of civilian products may be further opened.

Considering that the compulsory redemption may save the company more financial costs, as well as the dual dividends of demand release and autonomous controllable policies for military industries and EV, 5G and other demand releases that are expected to benefit in the future.

Therefore, maintain BUY rating.

Risk reminders: 1) Uncertainty of order release rhythm and order confirmation progress in the downstream military and civilian products industry; 2) Risks of new business and overseas business market development; 3) Risk of squeezed profit margins due to fierce industry competition; 4)The risk of falling profitability caused by the decline in the proportion of new products; 5) New energy vehicles or communications 5G civilian products profitability improvement pace is not as expected.

China National Travel Service (601888): China Exemption Wins Bid for Daxing International Airport Duty Free Bid

China National Travel Service (601888): China Exemption Wins Bid for Daxing International Airport Duty Free Bid

Event description On March 11, 2019, the company issued a notice to announce that it was exempted from bidding (the first candidate) in the international zone of Daxing Airport.

On March 13th, China Exemption formally won the bid for the duty-free business right of the Beijing Daxing International Airport International Zone. The bidding section was divided into (1) tobacco and alcohol, food prices, (2) aroma and fine products, and the contract period was ten years.

Comment on the event Beijing Daxing International Airport is built between Daxing District of Beijing and Guangyang District of Langfang City, Hebei Province, and completed the large-scale international aviation comprehensive transportation hub opened before September 30, 2019. It will be in 2021 and 2025 respectively.Achieved the target of 45 million passenger explosions and 72 million passenger operations.

After 天津夜网 the opening of Beijing Daxing International Airport, from the winter season of 2019 to the winter season of 2021, China Southern Airlines, China Eastern Airlines related airports and Capital Airlines, China United Airlines transferred to Beijing Daxing International Airport.

Beijing Daxing International Airport and Beijing Capital International Airport will adopt the measures of “translation first, then optimization, and then increment” to allocate time resources. After Daxing International Airport achieves the goal of 45 million passengers per year, flights from the two airports will beAchieve balanced growth.

China Exemption successfully won the bid of Daxing Airport for tax exemption, and the scale advantage will be further strengthened.

Daxing Airport is divided into two sections for tax exemption. (1) Tobacco, 苏州桑拿网 alcohol and food labels, with an area of 1,666 square meters.

Guaranteed rent of 300 million yuan / year, a deduction rate of 49% (rent / income, that is, the percentage of income); (2) Fragrant, premium tender, with an area of 3,467.

4 square meters, the exemption reported 4.

Guaranteed rent of 1.6 billion yuan / year, 46% purity ratio for fragrance products and 20% purity ratio for boutique products.

It may be that in the bidding of fragrance, fine bidding, and even bead exemption 5.

A guaranteed rent of 300 million yuan / year, with an initial commission ratio of 49%, eventually ranked second only to the winning candidate.

Based on this analysis, we believe that China Exemption Participates in Commercial Standards and the overall strength of technical targets wins.

The successful bid for this exemption will further strengthen the scale advantage of airport tax exemption, and the future performance is expected to increase.

Profit forecast and investment advice: Under the background of overseas consumption return, the company as a tax-free leader, the lipstick effect helps its high growth continue.

(1) In the short term: the divestiture of China Travel Service will bring 100% investment income; Hainan’s tax-free 51% equity will be injected into listed companies; (2) In the medium term: the integration of procurement business and the increase in scale will bring the traditional gross profit margin (3) In the long term: international business development and new stores in the city will increase performance, and achieve the goal of “ guaranteeing three competitions in one ” in 2020.

The company’s EPS for 2019-2020 is expected to be 1.

96 and 2.

52 yuan / share, corresponding to 31 and 24 times of PE, maintain “Buy” rating.

Risk Warning: 1.

The implementation of the city’s tax exemption policy was less than expected; 2.

International expansion and challenges in participating in global competition.

The secret of TCM face-to-face consultation: looking at the five internal organ diseases from the face

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The secret of TCM face-to-face consultation: looking at the five internal organ diseases from the face

Speaking of healthy complexion, people always think of the word “white and red”, but Asians have yellow skin. What exactly is a healthy complexion?

  Healthy ethnic Chinese medicine classifies complexion as main color, objective color and disease color.

The main color is the invariant complexion throughout life.

On the basis of tan, it is normal for some people to be black, white, and yellow; but when it is unhealthy, yellow, white, and black appear unhealthy.

  Chinese people’s healthy complexion should be red and yellow, faint and subtle.

Ming stands for “bright” and Run stands for “moisture.” Implicitly, there is blood, and this is healthy yellow.

Unhealthy yellow is often pale yellow and lacks luster, as if plants are lacking nutrients and withered.

  In addition to the main color, there is also an objective color on the face, which refers to changes in the face caused by climate, diet, mood changes, sports, and work environment.

For example, the face will turn red after exercise, the face will suddenly become pale in the cold winter, long-term work outdoors, the skin tone will become dark, etc. These are normal parts.

  Five internal organ diseases, written in the bladder. Traditional Chinese medicine introduces some simple methods. You can make a preliminary judgment on what is wrong with your internal organs from the color of different parts of the two ends.

  1. The diseased area of the lungs is called Yintang. It is best to have red in the white and black in the taboo, which means that there is a major disease that is incurable.

If it is especially red, it is not good, indicating lung heat; whiteness is blood deficiency or qi deficiency; blueness is blood stasis.

  2, heart color see excessive redness between the eyes is too hot, can cause upset, insomnia, and even neurological disorders.

If bruises appear between the eyes, it means blood stasis, which may be caused by coronary heart disease.

  3, liver disease look at the highest point of the bridge of the nose and nose if the bones are red, it may be the liver fire is too strong, showing irritability, red eyes, menstrual periods, etc .; the appearance of blue and black, it may be liver cirrhosis or liver cancer.

  4. Bile color, nitrate color. The right side of the liver color on both sides of the nose is the bile color. It is pale and pale here, and it can cause shortness of breath, fatigue, and panic. Redness usually has symptoms such as fever, nausea, and vomiting. The color is dull or grayish brown.There are roundworms.

  The liver color is the stomach color on the left. Here the color is pale and gray is cold. Women are prone to waist and abdomen acidosis. The color is yellow and yellow, which means that the stomach is not acidic, and most of them are anorexia and acid reflux.

  5, the spleen is sick, if the nose is red, the spleen and stomach have heat syndrome, it is particularly eatable, and after eating it will be hungry, and even diabetes; whitening is Qi deficiency; blue is Qi stagnation, blood stasis, and stomach pain.

  6, stomach color to see whether the nose and here are pale, is a sign of reduced digestive function, most of them will be anorexia, abdominal distension after meals.

Reddish and dry color is insufficient stomach fluid, usually dry mouth and cleft lips, and dry stools; too reddish color is hyperactive stomach, bad breath and swollen gums.

  7, kidney disease look at the two chests here are not afraid of gray and black, afraid of Jiao Yan.

Bright, moist, and subtle gray appears in the kidney color, which is a healthy performance, but a rouge-like red color shows that it is seriously ill.

  8. The color of the uterus and prostate looks white, blood deficiency and qi deficiency; yellowing is spleen deficiency; redness is heat syndrome, females have cervical erosion, males are prostatitis; blue or black is coldThere will be severe pain and cancer.

Chinese medicine teaches you how to look healthy from your lips!

Chinese medicine teaches you how to look healthy from your lips!

Human lips are actually an important indicator of people’s health.

Different lip colors can polish a person’s health.

The following editor of Ping An Health Network will take everyone to learn how to grind a person’s health problem from a person’s lips.

  First, the lips are pale white. Tips: Both Qi and blood in your body are relatively boring, because they are not full enough to make your lips show that kind of reddish color.

  Common discomforts: fatigue, drowsiness, back pain, low libido, etc.

  ー Method: 1.

Strengthen the absorption of relatively high nutrients, don’t picky eat again, don’t think about losing weight, life is more important than slim.

  Suggested food: fish, chicken, beef, lamb, eggs, etc.

  2.

Red cobalt peanuts, chewed properly every day, unlimited.

At least fifteen dried dates a day.

  3.

Don’t stay up too late, it will exacerbate the destructive consumption of your already insufficient energy.

  Second, the lips are blue-black (purple) Xiaobian reminder: there is still a relatively obvious blood stasis and qi stagnation in your body. Blood flowing at normal speed will not show lips of this color.

  Common discomforts: chest tightness, sigh, occasional tingling in the chest, nightmares, etc.

  ー Method: 1.

If you rarely exercise, a 30-minute jog every day will completely change your lip color.

  2.

It is highly recommended that you can add 1-2 tablespoons of old Shanxi vinegar every day, this will definitely make your dark black lips change after it is caused.

Laochen vinegar itself has other effects, but also has the function of softening blood circulation and improving stasis.

  3.

If you smoke, it is best to reduce your smoking.

The nicotine in the body is still better.

  Third, bilateral or unilateral mouth corner cracking I don’t know if you have experienced this. That is, the corners of the two sides of the upper and lower lip junctions often crack inexplicably. If in those days, Guo Degang’s crosstalk cannot be heard anyway.Look at Zhao Benshan’s sketch. If any colleague holds a mobile phone and reads a funny text message, I’m afraid it will cause the wound that just healed in the corner of your mouth to crack again, and the pain of heartbreaking heart . Hint: whether you talk or eatDuring the up and down movement of the lips, the position of the corner of the mouth is still relatively unmovable, and the effect they cause is very vertical. Therefore, once the spleen and stomach yin deficiency occurs inside the body, it is most likely to be “oil-starved” somewhere.They are still at the corner of the mouth, so in this case they tend to crack easily.

  ー Method: 1.

Go down the street and buy that kind of ripe kiwi, three at a time, three times a day, and after three days, you’ll believe why it has magic.

  2.

It is recommended to watch comics, sketches, and funny programs less to prevent the wound from cracking again.

Repeated cracking of the wound is not conducive to eventual recovery.

  3.

It is recommended to temporarily eat more foods with greater fat.

  Fourth, the lips are red or crimson or fuchsia. Tip: Your physical state is still relatively large. The tongue is like a reminder of internal energy. When there is too much energy in your body, it will cause “fire” due to excessive energy.

And the more the color develops towards the crimson, the better it means the fire in the body.

  Common discomforts: toothache, headache, dizziness, constipation, yellow urine, etc.

  ー Method: 1.

Immediately reduce the intake of the following substances, spicy foods, sugars, chicken, and lamb, they will only produce more energy, make your body more vigorous, and cause its color to be more crimson.

  2.

Try not to take supplements containing ginseng, jujube and other substances. After all, pouring oil on the fire is very dangerous.  3.

When you have so much discomfort, you need medicine to help.

30g of black ginseng, 30g of oatmeal, 30g of cinnamon, 2g of cinnamon, decoction.

This recipe is the ancient famous recipe Zengye soup.

The above-mentioned correction has obvious relief and healing effects. When the human body is “fired”, the yin can be replenished at the same time, so that we are no longer dry fire and no longer catch fire.

  Fifth, a black circle appears on the skin around the lips. Tips: There is still a significant amount of moisture in your body. At the same time, it means that your kidneys, spleen and stomach are beginning to have deficiencies.

  Common discomforts: decreased appetite, poor digestion, heaviness in the lower extremities, and frequent urination.

  ー Method: 1.

Try to avoid all kinds of sweets, fried, greasy, sticky foods, cold foods, etc., because they can make your body produce more moisture.

  2.

Do not rush to sleep or sleep after a meal. This will directly lead to moisture in the body due to the slow transportation of food.

  3.

The meridians of your kidneys and spleen and stomach all originate on your feet. Your feet are just as important as the roots of plants. Try to soak your feet with hot water every day. This will directly supplement the heat energy from your “roots” to the associated filth.Device.

Reminder: don’t let the yoga mat hurt the skin

Reminder: don’t let the yoga mat hurt the skin

When you have completed a difficult yoga exercise such as handstand and knees, have you noticed that the yoga mats that have close contact with your skin are clean?

According to the Taiwanese People ‘s Livelihood News, most of the public yoga mats in fitness venues are not regularly sterilized, which is easy to hide dirt and breed bacteria and cause skin infection.

  Some people may say that they often use common mats to practice yoga without physical discomfort.

In fact, the reason is very simple. The germs in the unclean yoga mat do not immediately occur when they are infected by the human body. Instead, they lie in the skin’s surface for a long time.Infectious skin diseases.

According to doctors, unwashed yoga mats are likely to harbor bacteria, dust, and dust mites.

The bacteria in it can cause folliculitis, which can easily cause ringworm and athlete’s foot. The biggest threat of dust mites to people with allergies is to induce allergic dermatitis and asthma.

  There are a variety of yoga mat cleaning wipes, sprays, or yoga gloves, foot covers and other products recommended to consumers in the United States.

How often have these products been mentioned, Dr. Song suggested that the best way to prevent infection is to bring your own yoga mat.

In addition, after exercise, be sure to add a shower gel containing bacteriostatic ingredients to take a bath, fitness clothes should be soaked with disinfectant, or dried in the sun after cleaning.

  Maybe some people think that it is easy to solve this “trouble”. When you practice yoga, you should bring some disinfectant wipes and wipe the yoga mat, but do not advocate this seemingly trouble-free method.

Because the commonly used disinfection products do not change the entire pad when used, the cleaning and sterilization effect has not reached the standard, and it cannot play a role.

If you use a product with a high disinfection concentration, the disinfectant left on the pad after rubbing will also cause damage to the skin.

Experts explain why babies don’t like breast milk

Experts explain why babies don’t like breast milk

Question: The baby was delivered by caesarean section. Because of abdominal pain, Mummy’s milk did not come down. So when the baby cried, Mummy gave him a bottle. But when Mummy’s milk came down and her breasts were uncomfortable, no matter what.Feed the baby, the baby refuses to eat.

Expert answer: This situation is a “nipple illusion”, because the rubber nipple on the bottle is long and the nipple is large, the baby can suck the milk without much effort.

When they suck their mother’s nipples again, they will find it difficult to hold them, and they will struggle to suck them up. Therefore, they will not want to eat their mother’s milk again.

Correcting the baby’s “nipple illusion” is more difficult. The key is the patience and perseverance of the mother.

First, stop giving your baby a pacifier right away.

Even if the baby needs to be fed breast milk, do not use pacifiers, other methods, such as a spoon, a needle, a medicine dispenser and so on.

Basically, patiently and tirelessly help your baby learn the correct breastfeeding position. Make your baby face straight to the nipple (no need to twist the neck), form a straight line of head, shoulders and hips, and be comfortably held in the mother’s arms.

Use your nipple to tease your baby’s mouth wide. Once it’s widened, let the nipple drive straight in and reach behind the baby’s tongue.

Your baby’s nose should stick slightly to the upper side of the breast, and the lower lip should contain more areola.

If this time is unsuccessful, contract again.

It’s best to keep your baby in your arms, give him nipples whenever possible, and feed him when he’s comfortable and not too hungry.

Generally, the baby with “nipple illusion” is unwilling to wait for the milk to be squeezed out. You can squeeze the milk before feeding and wait until the milk “downs” before giving your baby’s nipples, so that the baby does not have to wait for milk to urinate immediately.

You can also let the babysitter or family drop some pre-squeezed milk on the breast when the baby starts to suck, and run down the breast into the baby’s mouth to give the baby some “reward”.

Don’t starve your baby deliberately, thinking that he will be fed when he is very hungry.

This can make him weak and even cause dehydration.

Even if the “nipple illusion” is more serious, the baby who resolutely resists the nipple needs to take the extreme measures: on the first day, no nipples or nipples, and other ways to feed the baby with squeezed milk; the next day,Instead of giving a pacifier, use your nipples to soothe your baby, but also breastfeed in other ways; on the third day, your full nipples can be replenished and fed before your baby’s newborn.

Detoxification of the home to maintain home health

Detoxification of the home to maintain home health

We all know that the human body needs detoxification. If the toxins in the human body are not discharged, they will accumulate in the body for a long time, which will cause many physical diseases and even very serious systemic disorders.

Beautiful women in front of the computer must attach great importance to detoxification, and often detoxify their bodies.

However, you know, your house needs detoxification too.

For us, the house is a place to live, whether it is a physiological habitat or a psychological habitat.

The house is our home.

Or say this, make us a temporary home.

Because many white-collar workers are now working outside, although they are in high-end residential areas, but they are renting others’ houses.

  But, no matter what, the house always gives us a lot of warmth.

Since the house is so important to us, have you paid attention to your own housing toxins?

Certainly not, you usually take the land as a building, it must be a poison.

It’s not right to think like this.

In fact, our housing is also left with toxins.

Today, follow the footsteps of Xiaobian to understand the toxins of the housing, so that you can prepare for the detoxification of the living room in the future.

  Currently confirmed housing toxins, in addition to the chemicals encountered in daily life, such as various types of detergents, chemical raw materials, clothing and personal skin care products, the degree of displacement of the house is also an important reason.

Therefore, the Canadian government checks whether the category items are harmful according to the relevant reports, and then determines whether it can be sold. At the same time, the National Health Bureau also recommends that customers can directly ask the manufacturer about the chemical composition and safety index of their products.

  The children’s professor Bruce believes that it is best not to fill his home full of things that are not needed, so as to reduce the chance of pollution.

In addition, he also introduced some tips for housing detoxification.

  1.

Regularly turn on the exhaust fan in the kitchen and bathroom.

Open all the windows in your home every day. It is best to avoid using various insecticides and detergents made with chemical compounds in the house.

  2.

Always test the relative humidity in the room.

  3.

Install a tap water filter.

  4.

Replace the traditional carpet with tiles, hardwood floors or carpets made of non-toxic wool.

  5,

Cloth curtains are used instead of curtains made of polycarbonate compounds.

  6.

Try to use natural mineral soaps and shampoos, and use pure essential oils instead of perfumes.

  7.

Replace the non-stick pan with a ceramic pot or a cast iron pot, and replace the plastic container with a glass container.

  8.

Domestic experts pointed out that the Canadian approach is worth learning.

  Chinese residents have always focused on the issue of excessive formaldehyde, but in fact far more than that.

Deeper environmental cleansing includes creating a good external living environment, keeping away from various infectious diseases and reducing chemical pollution of daily necessities.

For example, if you want to open more windows, choose a high-efficiency air purifier to purify the air, use a uniform exhaust pipe, do not punch holes, etc., otherwise it will easily cause mutual pollution.