[Loofah catfish soup]_Loofah catfish soup_Homely practices_Production method

[Loofah catfish soup]_Loofah catfish soup_Homely practices_Production method

It is the easiest and most effective way to make loofah into soup. Today I recommend that you use loofah with carp to make soup. The soup has high nutritional value and has good health effects on the body. First prepare the corresponding ingredients and then followThe steps will work.

I. Loofah catfish soup Ingredients: Seasoning: 75 g of lard (refined), 15
g of shallots, 8 g of ginger, 8 g of salt, 2 g of MSG, 25 g of cooking wine, 1 g of pepper, Yu Tengtang fresh and fragrant production method: 1.

Descaling the fish, gills, cut off the internal organs, wash, drain, put on the chopping board, use a knife to double the “ten” flower knife on each side of the fish; 2.

Loofah peeled, washed, cut into 6 cm sections, then cut into two, cut into strips; 3.

4. Put the pan on the fire and add lard. When it is hot to 70% or 80%, add the catfish, fry it slightly on both sides, and cook it with cooking wine when it is slightly colored;

Immediately add ginger slices, spring onions, and an appropriate amount of soup, cover the pot, and boil over low heat for 5?
7 minutes, fill the fish in the soup bowl when the fish is mature; 5.

Put the loofah into the pot, boil it on the high heat and boil for 3?
4 minutes, see the soup is milky white, when the loofah has been crispy, remove the ginger slices, spring onions, add salt and MSG, adjust the taste, and burn for a while; 6.

You can pour it out and pour it on the fish in the soup bowl. Sprinkle with pepper and you can eat.

Tips-Food: Catfish: Catfish should not be eaten with garlic, sugar, mustard, sea cucumber, honey, pork liver, chicken, pheasant, venison, and Chinese medicinal Ophiopogon and Magnolia officinalis.

Avoid tea before and after eating fish.

Second, the practice of loofah catfish soup Step 1 catfish remove the internal organs and gills, wash, and cut a few knife on both sides.

2 Ginger slices, minced garlic, chopped chives.

Heat in 3 pans, add some oil, and fry for a while.

4 Fry the other side.

5 Add ginger garlic garlic and fragrant.

6 Add cooking wine to fishy, and add water to drown most of the fish.

7 Boil, see, the milk is white, and cook on low heat for 30 minutes.

8 neutral time, peel and wash the loofah, cut the hob block.

9Boil fish, season with salt and sugar.

10 Add the loofah and cook.

11 Sprinkle with green onions.

Third, the practice of loofah catfish soup Step 1.

Sturgeon removes scales, gills and internal organs and rinses them.

2.

Cut a few knives on both sides of the fish’s back and apply salt.

3.

Place the fish in a dish, top with rice wine, and marinate for a while.

4.

Ginger slices.

5,

Heat the pan with cold oil and heat over high heat.

6.

Add ginger slices after the oil is hot.

7.

Place the spatula on the oil pan to heat the spatula.

Because the cold spatula tends to stick to the skin when turning the fish over.

8.
Put the sturgeon in the pot and replace the medium-low heat.
9.

Fry until browned on both sides.

10.

Pour water into the fish body and simmer until the fish soup turns white.

(It is best to use hot water, the soup is easier to cook white. If it is cold water, it must be cooked over high heat, the fish soup will turn white.

) 11.

Add one tablespoon of rice wine, turn to medium-low heat after boiling, cover the pot.

12

Peel the loofah and cut off the ends.

13

Cut into roll blades.

14.

Cook when the fish soup becomes milky white.

15
Put the loofah in the pot and cook for about 10 minutes.

16.

Add in the right amount of salt.

17.

Put onion segments.

18 years old

Put some chili sauce according to your preferences, and mix well before you can cook.

[Authentic Practice of Old Beijing Rock Sugar Gourd]_How to_Encyclopedia of Practices

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[Chuanxiong and what phase grams]_ diet conditioning _ diet taboo

[Chuanxiong and what phase grams]_ diet conditioning _ diet taboo

Chuanqiong is a kind of Umbrella plant, this Umbrella plant also has a certain nutritional value. He is generally used as a traditional Chinese medicine. Although it is grown in the Sichuan region of China, it can be used throughout the country.In fact, its main effect is to stop bleeding, because some women have more menstrual menstrual blood, which can easily lead to weak blood and can use some Chuanqiang, so what is the best way to wear poverty?

Ligusticum chuanxiong is the rhizome of Ligusticum chuanxiong.

Chuanxiong is a perennial herb, transformed and cultivated, mainly produced in Sichuan Guanxian, Shaanxi, Gansu, Jiangsu, Zhejiang, Jiangxi, Hubei, Hunan, Guangxi, Guizhou, Yunnan and other places.

In the second year after planting, the rhizomes were dug in late May to early June, the soil was removed, the stems and leaves were removed, and the stems were dried.

Rhizome of Ligusticum chuanxiong is an irregular nodular fist-shaped mass with a diameter of 1.

5 to 7 cm.

The surface is yellow-brown to yellow-brown, with most of the bulging knuckles in parallel; the ends have round-like dimple-like stem marks, and there are a lot of fine nodular root marks on the underside and the knuckles.

Quality, not easy to break, the section is yellowish white or grayish yellow, with wavy ring-shaped formation layer, the whole is scattered with yellow-brown oil spots.

The aroma is strong and special, bitter, spicy, slightly sweet, and tingling.

With a fullness, quality, yellow and white cross-section, oily, strong aroma is preferred.

Ligusticum chuanxiong is suitable for the crowd: menstruation is more frequent, pregnant women and bleeding disorders should be taken with caution;

Chuanxiong dietary effects: Chuanxiong Weixin, temperature; liver, gallbladder, heart meridian; Qixiang Shengsan; has the effect of promoting blood circulation and qi, expelling wind and analgesic; treating irregular menstruation, dysmenorrhea, amenorrhea, dystocia, dysmenorrhea, postpartumThe lochia has abdominal pain, lumps, thoracic pain, bruises due to bruises, headache, dizziness, dark cold, dampness, limb numbness, and scabies healing.

Contrast with Chuanxiong: Chuanxiong evil astragalus, dogwood, wolf poison, saltpeter, talc, Coptis chinensis, anti-leaf reed.

Chuanxiong practical guidance: 1.

Irregular menstruation due to blood stasis, dysmenorrhea, amenorrhea, dystocia, postpartum lochia, abdominal pain, and lumps can be combined with cooked (or raw), white peony (red), angelica to form a basic formula, and then add flavor according to the condition.

2.

Anyone who has a headwind headache has a cold wind yesterday, but it is compatible with nepeta, windproof, asarum, and white peony.

[How to make a big pimple]_ How to make a big pimple

[How to make a big pimple]_ How to make a big pimple _ How to make a big pimple _ How to make a big pimple

It is not as difficult as everyone thinks to prepare a dish. As long as you prepare the ingredients, tableware, master the heat, and then follow the steps on the big skin, I believe you can.

1.

1 carrot minced, add flour, mix and stir into flocculent!

2.

2 Carrot slices, wrap with plastic wrap, microwave for 3 minutes.

3.

12
Knead the dough.

4.

21 poke into pieces.

5,

Repeated folding and pressing into thin sheets.

6.

Pressed into regular slices.

7.

1 Cut and press into the thinnest sheet.

8.

2 Sprinkle dry starch on top.

9.

Cut off the two points and stack them into squares.

10.

Cut into crusts.

11.

Add minced pork, salt, soy sauce, pepper, and ginger. Stir in chopped chives and stir-fry.

Take a coriander skin and fill in the coriander filling.

12
Hold tight!

13

Heat the pan, add oil, stir-fry the tomatoes, stir-fry, add water, bring to a boil, add the ravioli and cook!

14.

Cook, add salt, chicken essence, sprinkle parsley and stir well.

Ready to cook.

Today ‘s introduction is over. Thank you for your attention. So learn how to hurry and try it out. Your family is looking forward to serving your delicious table!

Berry Gene (000710) 2019 Third Quarterly Report Review: Genetic Recombination Leading Tumors Have Great Potential for Early Screening

Berry Gene (000710) 2019 Third Quarterly Report Review: Genetic Recombination Leading Tumors Have Great Potential for Early Screening
The development of genetic mutation technology promotes the decline in costs, the rapid growth of the market and the upgrade of genetic mutation technology, the continuous decline in transformation costs, effective clinical application transformation, and standardization of policies, etc., together promote the rapid development of the genetic transformation industry.According to Grand View Research’s forecast, the global growth market will reach $ 19.7 billion in 2025, with a five-year compound growth rate of over 20%.China’s current market size is estimated to be less than 10 billion yuan. Gene topology leader, NIPT product upgrade, and the most mature field of the existing gene mutation industry with excellent tumor early screening data is non-invasive prenatal diagnosis (NIPT). Berry Gene occupies about 30% of the market share, and it is a duopoly with BGI, The first-mover advantage is obvious.As the market penetration continues to increase and the NIPT Plus products that can detect 100 types of birth defects are upgraded, both volume and price have risen.The new product of natural health testing can be genetically tested on a variety of samples, and more than 300 chromosomes and structural abnormalities have been found. Compared with traditional methods, it has the advantages of high throughput, fast speed, and high accuracy. The product is expected to be 2020.It won the first batch in the year, and it is the first one in China. It is expected that the volume will be rapidly increased through existing channels after approval.The company ‘s “Thirteenth Five-Year Plan” national science and technology major early-stage screening program for liver cancer, PreCar, announced the first prospective data of the same type of global research on liver cancer at the CSCO conference in September this year, proving that very early warning of liver cancer can be obtained through blood testing.Approximately 100%, with a sensitivity of over 97%. It can be screened for extremely high-risk liver cancer patients 6-12 months earlier, and the 5-year survival rate can potentially increase by more than 5 times.Early tumor screening as an innovative product with very high technical barriers will have huge clinical value and commercial prospects. It is estimated that the market size of early screening for liver cancer is 30-50 billion. High-speed growth in scientific research services and rapid increase in profitability3.7 billion (+ 219%), and by maximizing production capacity, the gross profit margin increased from 14% to 59%. The company has a cost advantage and it is estimated that it can maintain high growth rates.The scope of application of the NextSeq CN500 Gene Predictor in June this year was expanded to provide a basis for the subsequent launch of other products injected by NGS. Risk reminder: R & D progress is less than expected, and product launch and promotion are less than expected. Investment suggestion: Cover for the first time, give “Buy” rating, and estimate that the net profit attributable to mothers in 2019-2021 will be 4.09/4.65/5.5.3 billion, a growth rate of 53% / 14% / 19%, the current total corresponding PE is 31.9/28.1/23.6 times, three-year compound growth of about 27%.As a leading company in the field of gene mutation, the company has significant technological advantages. The proportion of high-end products that have passed the health test has increased, and the gross profit margin has been steadily rising. The early cancer screening products are expected to land in 2021, with huge potential space.Based on 25-30 times in 2021, a reasonable estimate of 46.8?54.6 yuan, 36 from the current sustainable.81都市体验网 yuan has 27%?48% of the space is covered for the first time, giving a “Buy” rating.

Sanqi Mutual Entertainment (002555): High income growth but short-term storage pressure on sales costs Expect major works to mature profits

Sanqi Mutual Entertainment (002555): High income growth but short-term storage pressure on sales costs Expect major works to mature profits

Event 1) The company released its 2018 annual report and achieved operating income of 76.

33 ppm, an increase 佛山桑拿网 of 23 in ten years.

33%; Attributable net profit 10.

09 billion, down 37 a year.

77%; attributable non-net profit4.

$ 7.5 billion fell 54.

7%; non-GAAP adjusted attributable net profit.

10,000 yuan, an increase of 6 in ten years.

56%.

Performance is in line with expectations.

2) The company released the first quarter report of 2019, and the operating income was 32.

470,000 yuan, an increase of 95 in ten years.

46%; Attributable net profit 4.

54 ppm, an increase of 10 in ten years.

8%; attributable non-net profit 4.

17 ppm, a six-year increase of 6.

41%.

Performance is in line with expectations.
3) The company expects a net profit range of 9 in the first half of 2019.

00?

10.

00 ppm, an increase of 12 in ten years.

31% to 24.

78%.

Brief Comment 1. The performance is in line with expectations; explosive funds promote high revenue growth, and high marketing expenses during the expenditure period lead to pressure on short-term net profits.

33 ppm, an increase of 23 in ten years.

3%.

Benefiting from the launch of two new games, “One Pass” and “Doulau”, the company’s operating income in the first quarter of 2019 was 32.

47 million, a year-on-year growth rate of 95.

5%.

In terms of business, in 2018, mobile game operating income increased by 70%.

0%, is the first to drive higher initial revenue, mobile games business flow86.

8.3 billion US dollars, an annual growth rate of over 85%, the domestic mobile game market share increased to 6.

48%; web game revenue 16.

4.6 billion, affected by the shift of user trends to mobile terminals and the decline in the number of page games products, each decline of 28.

4%; assets related to auto parts have been divested during the year.

2) Gross profit and gross profit margin: With the development of self-developed products, the company’s gross profit margin tends to increase, reaching 87 in the first quarter of 2019.

7%, an increase of 16 per year.
1pct, an increase of 9 from the previous month.
5 points.

In terms of business, the gross profit and gross profit margin of the mobile game business were the highest again, with a gross profit margin of 81 in 2018.

0%, further improvement of 4 per year.

5pc; the gross profit of web games tends to decline, but the gross profit margin further increases 5.

0pct to 71.

9%.

3) Periodic cost and expense ratio: Affected by the launch of new products, a series of major works such as “Lost City of Ghost Speaking”, “Sword of the Archangel H5”, “Awakening of the Immortal”, “Breaking Dragon” and other major works are still among the mainDuring the promotion period, the company’s sales expense rate rose sharply. In the first quarter of 2019, two more popular works during the promotion period, “One Pass” and “Duro Continental H5” were added. At that time, the sales rate reached 66.

0% historical high.

Due to the rapid growth of the income end, the comprehensive management expense rate including R & D expenses under a unified caliber has tended to decline, and the company has continued to grow in R & D. In 2018, R & D expenses continued to increase23.

3%.

Overall control of financial expenses is better.

4) Net profit: In 2018, due to the company’s performance commitments in Shanghai Mojing failed to meet the standards, the company confirmed that it had confirmed relevant performance compensation gains and goodwill impairment losses. The impact on the attributable net profit in 2018 was approximately -5.

0.6 billion.

In addition, in 2018, the company had no significant equity disposal gains. (In 2017, due to the disposal of equity of companies such as Shanghai Yuanyuan and Shanghai Aurora, the after-tax investment income was recognized2.

00 billion).

Mainly due to the significant increase in selling expenses, the company’s net profit attributable to the company increased by 10 in the first quarter.

8%, the growth rate is significantly lower than the income side.

It is expected that in the future, the game will gradually develop into a mature period, and marketing-related expenses will gradually decrease, and profit release will be gradually realized.

5) Operating cash flow: The company’s net operating cash flow for the first quarter of 2019 was 1.

US $ 5.8 billion. Previously, the average chain rate fell. First, the increase in Internet traffic costs led to higher operating cash flows.

6) Performance indicator: Estimated net profit range for the first half of 20199.

00?10.

00 ppm, an increase of 12 in ten years.

31% to 24.

78%; corresponding to 2Q19 attributable net profit range 4.

46?
5.

460,000 yuan, an increase of 13 in ten years.

9%?
39.

5%.

Compared with the weak profit growth rate in the first quarter, the profit release of explosive products is expected to gradually be realized in the second quarter.

2. Strengthen the strength of independent research and development, and enhance the strength of multi-category game research and development. Since 2018, the company has newly launched more than 10 mobile games since its research, and the mobile game R & D business has increased by 61.

05%, the proportion of self-developed mobile games continued to increase.

In the first quarter of 2019, the company’s self-developed “Doulau Continental” H5 and “One Passed” were outstanding, forming a good support for the strong growth of the revenue side.

In 2019, the company’s casual sports game “Super Ball (tentative name)”, turn-based game “Mobile Game Project AOD”, and simulation business game “Code G” are expected to be launched, and the rest are in the mobile gameIt also includes “Legend NB”, “Codename YZD”, “Legend”, “Codename DG”, “Dark Descendants”, “Elven Ceremony”, etc., totaling more than ten models, self-developed product categories continue to develop.

3. Domestic market share of domestic distribution business is increasing, and overseas is expected to contribute incremental space. The company adopts a new strategy of “three-dimensional marketing + precision promotion + long-term service” systemic traffic management.Has its own advantages.

In terms of three-dimensional marketing, the company; in terms of precision promotion, the company has accumulated user resources and big data for many years to improve the effectiveness of targeted advertising; in terms of long-term user services, the company combines rich product supply to provide players with a more comprehensiveOne-stop service to continuously improve player satisfaction, activity and retention, and improve user life cycle.
1) Domestic mobile game distribution market: The company’s game distribution categories tend to diversify. In addition to strengthening self-developed products, it also cooperates with high-quality manufacturers such as Tencent, Netease, Perfect World, and Century Huatong, as well as strategic cooperation through investment and stock ownershipAnd other ways to deepen the supply of quality game content.

The company’s issued business product reserves cover ARPG, MMO, card, SLG and other types, involving different alternatives such as fantasy, Eastern and Western fantasy, adventure, cultivating, and two-dimensional.

In 2018, the company’s domestic mobile game publishing business market share further increased to 6.

48%.
There are more than 5 products with monthly sales of more than 100 million products issued since 2018, and the highest monthly sales tray reaches 9.

More than 300 million, with a total of more than 1.
.

100 million people, with a maximum monthly active users of more than 20 million, and diversified business strategies have achieved initial results.

Up to now, the company’s domestic mobile game products have been reserved for the mobile game “Sword and Reincarnation”, “Pig and Dungeon”, “Fairy 2 (tentative name)” and other self-developed products “Super Energy””Ball” ball (tentative name), “Codename YZD”, “Legend”, “Elven Ceremony” and so on.

2) Overseas mobile game distribution market: Combining self-developed and agency products of diversified categories, the company has achieved breakthroughs in Japan, South Korea, and other regions while maintaining the competitive advantages of Hong Kong, Macao, and Taiwan and Southeast Asian markets.

Among them, “Age of Eternity” was launched in Japan at the end of June 2018 and has a monthly flow of more than 10 million. In addition, mobile game products in the Korean market have also achieved a strategic flow of more than 10 million and the top 10 games best-selling results.

As of the end of 2018, the company’s overseas game distribution has covered more than 200 countries and regions around the world, and nearly 80 mobile games have been released worldwide.

As of now, the company’s reserve products include: ① “Code MH”, “Code ZSJ”, etc. for the global SLG market; ② SNK card games for the Japanese market, women’s games “Cygnus”, and the two-dimensional game “Devil King Project””; ③ The two-dimensional game” Shock Library: Zero Realm “for the Korean market, SLG game” True Dragon Domination “, ARPG game” Dark Descendants “, etc .; ④ Other games include” Soul Sister: Legend of the Moon Beside “,” DoulaContinental “,” Hope M “, etc.

3) Domestic page game issuance market: In 2018, the company’s internal page game market gradually increased the number of open services to nearly 36,000 groups, ranking first in the 9k9k service list and maintaining its leading position in the industry.

The outstanding products launched by leading companies also include “Tai Chi Rise”, “Town Magic” and “Destroyer”. The “Legend of Domination” and “Angel Sword”, which have been on the line for four years, have been launched on the 2018 page tour.The list is ranked 4th and 7th, which forms a better support for revenue.

In 2019, the company is expected to launch a page research product “Miracle X (tentative name)” and an agent page game product “Swordsman (tentative name)”.

4. Improving the layout of the cultural and creative industries and advancing the platform strategy The company continues to improve the layout of the cultural and creative industry chain by investing in stocks and other methods, actively exploring high-growth cultural and creative cross-cutting areas, covering games, film and television, animation, music, literature, VR / AR, Internet health, Internet education and other cultural consumption areas, so as to continuously expand the coverage of the population, especially the coverage of young people.

Achievements, the company’s supplementary investment areas include Awakening Yoga (Internet Sports), Miao Xiaocheng and KaDa Stories (Children’s Education), Jimu (Youth Culture and Social), Yuanji Painting (Artist Broker), Jinhai Shiyi (IP Incubation)).
The company’s other invested projects also include games (Shenzhen Zen Tour, Zilong Interactive Entertainment, Heartbeat Network, Chengdu Fighting, etc.), film and television music (Youying Culture, Zhonghui Television, Fenghua Qiushi, etc.), and animation (excellent culture, artPainting Kaitian, play can play, etc.) and VR (Archiact, Shanghai Tianshe Culture) and so on.

5. In the short term of profit forecasting and investment advice, titles such as “One Blade” and “Douluo H5” are still in the distribution period, and sales costs are expected to remain close to the level, but after entering the profit release period, they are expected to contribute significantly to the flexibility of contribution.
A variety of products with monthly sales of over one hundred million yuan proves the company’s outstanding research and transportation strength in launching explosive products, diversified 北京夜网 product layout and more corrective steps to the sea also provide the company with higher medium and long-term development space.

Maintain 2019 / 20E net profit forecast18.

500 million / 21.

2 trillion, the current market value corresponds to 2019 / 20E P / E ratio of 15.

7 times / 13.

5x, continue to recommend.

6. Risk reminder: The increase in traffic expenses is higher than expected, the existing head product flow is less than expected, the performance of new products on the market is lower than expected, and policy supervision is becoming severe.

Cibin Group (601636) Company Research: Strengthening of resource advantages, overlapping and new round of expansion highlighting long-term investment value

Cibin Group (601636) Company Research: Strengthening of resource advantages, overlapping and new round of expansion highlighting long-term investment value

Qibin Group: Underrated national glass leader.

Completion of the short-term upward trend, supply reductions under the constraints of environmental protection, short-term industry is capable of high prosperity.

The mid-to-long-term conversion industry’s cost curve has steepened, and the company has consolidated silica sand reserves to enjoy excess profits. We estimate that the dividend yield in 2019 will reach 7.

0% may be underestimated.

  Environmental protection reshapes the cost curve. Resources are the main source of long-term excess profits. Large enterprises benefit from high-quality capacity.

The industry structure changes. The asymmetric upward shift of the cost curve has undergone profound changes. Under more stringent emission requirements and mine control, silica sand resources will replace fuel as the key source of industry cost differences and excess profits. Currently, its own silica sand production cost advantage per ton is 165Yuan, future resource layout, technology products, core competitiveness of operation and management.

  Supply constraints and demand maximization support the temporary boom, increase capacity expansion and increase concentration, and the medium-term boom will be more moderate.

With the purchase of land, the growth rate of newly started construction has slowed down, the extension effect of the supplementary funds for the delivery of off-plan houses has eased, and the short-term completion of the completion side has pushed up the demand, which is growing in September.

Hebei ‘s air target, which accounts for 16% of the supply of horizontal crops, is at the bottom. Environmental protection constraints have further tightened under the pressure of the “defense of the blue sky”, and Shahe ‘s production capacity has come into play and is facing pressure to reduce.

The downturn in the early real estate industry slowed down slowly, but the actual production capacity was 85% after excluding the stoppage of mobile production lines. It was close to historical highs. Increasing production capacity replacement in the future, environmental protection has strengthened supply constraints, and the downward slope and amplitude under the background of increasing industry concentrationOr more modest.

  The long-term investment value of the company is becoming more prominent.

As a rising star, the company seized the opportunity of industry transformation and switched from the model of scale expansion to the pursuit of development and a new model of high value-added development.

The medium- and long-term development strategic plan proposed by the company 天津夜网 at the time of the review, the five-year plan to expand the original film production capacity by more than 30%, and the deep processing production capacity increased by more than 200%, aiming to seize the opportunity of industry consolidation and start a new round of growth.

  A sustainable high margin of safety under current dividend yields.

According to the dividend planning and profit forecast, if the dividend rate of 60% is maintained, it corresponds to a dividend yield of 7-20.

.

0%, 7.

1%, 6.

2%.

In addition, we estimate that the company’s self-sufficiency rate of silica sand is 60%, and the cost advantage is about 100 yuan / ton. The profit center of the medium and long-term industry under the assumption that the outsourced silica sand production capacity can only maintain the principal and the net profit rate of 5%, corresponding to the company’s annual rate of 5.
05, 9.

2.5 billion profit and 14.

05, 18.

25 billion free cash flow, with a net cash flow value of 140 at a 10% discount rate.

500 billion and 182.

500 million, the company’s current market value is less than 12 billion, still undervalued.

Regardless of the future expansion of the original film production capacity, we estimate that the company’s net profit attributable to mothers in 2019-2021 will be 13 respectively.

5.9 billion, 13.

69 ppm and 12.

50,000 yuan, the closing price on November 6 corresponds to the price-earnings ratio of 8.
.

6, 8.

5, 9.

7 times, the first coverage is given an “overweight” rating.

  Risk Warning: Repeated macro policies, unexpectedly increasing industry supply, and sharp fluctuations in raw material prices

Guanglianda (002410): Yuntu has now defeated Blue Ocean

Guanglianda (002410): Yuntu has now defeated Blue Ocean

Overseas Enlightenment: Integration or standardization is the global BIM development trend. By studying the history of BIM development in the United States, the United Kingdom, Europe, and Japan, it can be found that policy promotion, standard setting, and construction IT vendor promotion are important boosters for overseas BIM 苏州夜网论坛 development.

  At the same time, BIM software collaboration is a rigid need for industry development. At present, the United Kingdom and the United States take BIM design as the core, and open API solutions are mainly used in Europe and Japan. Unified data formats, IFC standards, or alliances are the main solutions.

Judging from the development history of digital design software TapAutodesk in the BIM field for about 20 years, building model-use model, design-engineering construction life cycle, software-hardware + Internet of things + big data, local deployment-cloud migration is the leader of foreign BIMThe development path of the enterprise.

In 2002, Autodesk started the BIM market strategy through the acquisition of 3D design software company Revit, and gradually abandoned the idea of “BIMizing” the CAD product line. Instead, 青岛夜网 it will integrate development and realize the interaction and collaborative sharing of various software through OpenAPI.

The BIM application was extended to the construction and operation and maintenance management stage in 2007. In 2014, the cloud transformation strategy was formally proposed.

  Domestic development: BIM enters 3.

At stage 0, Guanglianda is expected to lead the industry in “platform + components”. Beginning in 2018, domestic engineering and construction category participants have begun to use BIM to implement the importance of the entire process of the project.

The comprehensive policy program initially formulated by the Ministry of Construction that has lived since 2011 has promoted building informatization. Since 2014, 30 provinces / municipalities / autonomous regions have issued related policies, and even subsidies / substitute preferences have been given to encourage BIM applications.

Only the last one of the six national BIM standards (storage standards) is in the process of being approved, and it is expected to be implemented soon. The current BIM standard system has been basically completed.

  Guanglianda started BIM research in 2009 and officially released the BIM5D platform product in 2014. Through BIM construction + smart construction site + digital enterprise products, it created a job-level-project-enterprise-level integrated application system.

After the department integration in 2018 and the digital project management platform released in 2019, the company has deeply integrated the organizational structure, channels and products, combined sales in a “platform + component” model, opened up the data and integrated it into the platform unified summary modeling, Which is conducive to enhancing customer stickiness and can extend more value-added services in the future.

China is mainly affected by factors such as the size of enterprises, geographical restrictions, and financial constraints. It mainly starts from specific subdivision conversions or single-point application mining. Compared with Guanglian’s platform-based product competitive advantage.

  Cost business: 2020 is about to turn to the cloud, and the annual revenue of cloud cost is 30?
It is expected that Guanglianda will start to implement cloud products in 2015. It will realize cost cloud transformation in different regional stages. In the first year of the transformation region, the transformation will be 40%.
50%, in the second year it will basically achieve 80%?
85%, the rhythm is very smooth, it is expected that the conversion will be basically completed after 2020.

  Since 2016, the company’s sales expense ratio has continued to decline, and advance receipts have been rising steadily. From the perspective of the growth rate of revenue after the restoration, the company’s revenue has changed significantly from the beginning of 2019.

We estimate that the annual subscription fee will reach 33 trillion after the conversion of incremental users in the future. Considering the increase in ARPU value brought by value-added services, the subscription fee is expected to reach $ 4.2 billion.

  The company estimates and recommends: (1) Cost business: Assume that the account purchase rate is increased by about 40% of the number of users, and the conversion of pirated users is calculated by 30%. At the same time, services that are based on engineering information services are considered to increase the cloud-priced subscription fee of 200 yuan, replacingThe annual revenue of the company’s cloud subscription in 2021 is about 34.

700 million.

With reference to the valuation of Autodesk and Adobe during the transitional maturity period, Guanglian was given a 12x PS, with a value of 9.

The 4% WACC discount yields an estimated construction cost of approximately 348 trillion, 38.1 billion, and 412 ppm in 2019-2021; (2) Construction business: Combined with the company’s development expectations, it is assumed that the growth rate of construction business revenue in 2019-2021 will be 30% respectively., 45%, 45%, net interest rate is 8 respectively.

2%, 14.

2%, 19.

8%, the three-year compound average income of 2018-2021 is about 40%, assuming 2019-2021 is 1.
.

2/1.

2/1.

Given the estimation of 1 PEG, the company’s construction business is estimated to be approximately 3.6 billion, 9.4 billion, and 15.8 billion in 2019-2021.

In summary, the total estimates of Guanglianda in 2019-2021 are 384 trillion, 475 trillion, and 570 trillion, respectively, giving a “buy” rating.

  Risk reminders: 1. The risk that macroeconomic fluctuations will affect the company’s main business; 2. The risk that the cloud conversion progress in the remaining conversion areas will not meet expectations; 3. The risk that sales will not meet expectations after the integration of construction business; 4.The risk that the acceptance and progress of BIM products will not meet expectations.

Walnut peanut polenta softens blood vessels and protects the heart

Walnut peanut polenta softens blood vessels and protects the heart

The air is relatively dry in winter, and the cardiovascular and cerebrovascular diseases have also entered the peak period.

Because the human body is subject to cold stimuli this season, capillaries contract, which can easily lead to blood vessel division, and blood circulation is blocked, making it difficult for the toxic substances in the blood vessels to be discharged, thereby causing the onset and recurrence of cardiovascular and cerebrovascular diseases.It is arteriosclerosis.

So in the winter, how should patients with cardiovascular and cerebrovascular diseases pay attention to diet and nutrition in life?

Huang Bin, deputy director of the Department of Cardiology, Henan Provincial Hospital of Traditional Chinese Medicine, recommends several porridges with softening blood vessels.

In the Qing Dynasty Cao Tingdong’s “Establishment for Health Preservation”, there is a “congee theory”: “Congee can benefit people, especially in old age.

“The ancients concluded that porridge has three major benefits, one is delicious and delicious, the young and the young are salty; the second is tonic but not greasy, nourishing the stomach and the middle: the third is to nourish the five internal organs and facilitate blood circulation.

  Walnut Peanut Corn Porridge: Cook corn grits, walnut grains, peanuts in an appropriate amount and add water, and simmer into a porridge.

Peanuts are rich in phosphorus and a large amount of linoleic acid. Phosphorus can nourish brain nerves. Linoleic acid can cause arteriosclerosis; peanuts have beneficial amino acids and unsaturated fatty acids in the heart, which can reduce the risk of heart disease; corn replaces unsaturated fatty acidsIn particular, the content of linoleic acid is as high as 60% or more, which helps the body’s accidental and normal metabolism of hypertension, and can reduce the deposition in blood vessels, thereby softening arterial blood vessels.

This porridge is completely delicious and has a significant softening effect on blood vessels.

  Lotus root fungus porridge (soup): peel lotus root and cut into small pieces, shred black fungus, moderate amount of winter melon. If you cook porridge, add rice and boil it with water; if you want to make soup, add water and cook together, and finally add a small amount of saltJust season.

Lotus root has a lipid-lowering effect, black fungus can soften blood vessels, and melon diuretic and blood pressure.

  Rice polenta: corn grits, rice in half.

First mix the corn mash with water and mix until the rice is 50% to 60%.

It has the effects of nourishing the lungs and replenishing the heart, regulating the appetite, and softening the blood vessels.

Patients with cardiovascular disease such as arteriosclerosis, hyperlipidemia, coronary heart disease.

  Garlic porridge: Peel several pieces of purple garlic, boil the garlic for about 1 minute and remove it. Then put the rice into the garlic-simmered water to cook the gruel, and then put the garlic into the porridge.

It has functions of softening blood vessels, lowering blood pressure, and lowering blood lipids.

Enlighten the boss

Enlighten the boss

Many people are used to speaking with a lesson tone.

  Especially when one’s own reason is rich, he can’t help pointing the other person’s perplexity.

  If this happens to a subordinate who treats the boss, there will be no benign consequences.

  Yes, sometimes the boss’s ideas and practices may not be better than his subordinates, but speaking to the boss in a tone of lesson, the situation will not be accepted by him, and will become futile.

  Ju Fan wants his boss to act according to his own opinions, and never “teach” the boss how to do things, he must give him a space for thinking.

In fact, he can only be verbally motivated to think according to his own thoughts, prompting him to accept or think of the approach in his mind.

  This thinking space represents two meanings. One is to let the boss think for himself, let him make decisions, and maintain his self-esteem in decision-making.

  The second is to pay tribute to his experience and wisdom, as the boss has the right to have sufficient qualifications to teach people without having to be taught.

If the subordinates list in detail how to do the whole thing, and force him to draw the gourd in the same way, it is true that the plan may not be accepted by the boss.

  The guys most trusted by the boss should contribute good ideas, stimulate the boss’s ideas, and then approve the overall plan by the boss’s mouth, instead of notifying the boss how to proceed.