Gree Electric (000651): Double 11 promotion is good for the leader

Gree Electric (000651): Double 11 promotion is good for the leader

Event: Gree Electric Announcement on November 10 “11.

After the 11 “period, the profit of 3 billion US dollars triggered the industry to follow up the air-conditioning e-commerce promotion war.

Key points for investment: Air conditioner price war broke out during Double 11 November On November 10, Gree Electric announced “11.

During the 11 “period, 3 billion yuan will be used to combat low-quality and inferior products. The lowest prices for inverter air conditioners and fixed-frequency air conditioners will be 1599 and 1399 yuan respectively.The price of air conditioners is as low as 1249 yuan, which is small.

The price of 5 air conditioners is as low as 1399 yuan; Haier air conditioner 1.

The price of 5 air conditioners is as low as 1699 yuan, and the lowest price of 1 air conditioner is as low as 1499 yuan. The price of a Hisense air conditioner is 1499 yuan, which is 900 yuan.Decrease of 700 yuan;

The 5 inverter air conditioner has a minimum of 1599 yuan during the event, a drop of as high as 900 yuan.

Taking Double 11 promotion as a starting point, the price war in the air-conditioning industry has become more intense, and it is estimated that industry profits will be affected as a result.

The high inventory and decline in sales are mainly due to the data of AVC, which is reported. From January to September this year, the domestic air-conditioning market retailed US $ 159.6 billion, a decrease of 4%.

In terms of exports, according to industry online data, from January to September, the combined sales volume of the company was 47.49 million units, with 1 inserted each time.

9%.

Overall, the domestic and foreign sales of the air-conditioning industry have shown a range.

In the same period, the industry inventory has reached about 杭州桑拿 40 million units. The high inventory pressure and the overall sales volume of the industry and the gradual industry price war have become more intense.

The promotion battle is conducive to the expansion of the industry oligarch. From the perspective of the promotion results, 11.

11 Gree air-conditioning category-wide network Initially, Gree’s full-category platform-wide category exceeded 4.1 billion, with an increase of 200%. The promotion war has promoted the market’s further concentration on oligopoly companies.

Therefore, it is predicted that the company’s revenue and profit will continue to grow at a low rate this year, with an EPS of 4.

67 yuan, PE is 12.

3 times, maintaining the recommended level.

Risks suggest that domestic consumption is sluggish, exports are blocked, and the industry’s price war 南宁桑拿 exceeds expectations.

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[How to make curry fat noodles]_Home made curry fat noodles_Curry fat beef noodles Daquan_How to make curry fat beef noodles

[How to make curry fat noodles]_Home made curry fat noodles_Curry fat beef noodles Daquan_How to make curry fat beef noodles

In fact, cooking is not as difficult as everyone thinks. As long as you want to learn, you can slowly practice.

I will introduce the practice of curry fat beef noodles to everyone, take a closer look, I believe you will definitely learn 1.

Small group photo of ingredients 2.

Carrots and cucumbers are cut into small Ding Ding. Wash the fresh green beans before they are washed into the water or directly into the pot.

Put a small amount of oil in the pot, and when 40% is hot, pour the above ingredients into 4.

Medium and small fire stir fry 5.

No other spices are used, only curry powder6.

Pour in the amount of palatable taste, add more if you want to have a strong taste, and less if you have a light taste.

Stir in seasonings and vegetables 8.

Pour 9 bowls of water.

High heat and boil 10.

Reduce heat and cook the vegetables until they are slightly soft.

When the meat color of the fat beef roll changes from red to white, you can turn off the fire. The time must not be long. The taste of the beef is tender.

Serve it out, and the curry fat beef is ready13.

Add another pot and add instant noodles after boiling.

Remove when boiled and like to eat noodles that are slightly firmer14.

Put on curry fat beef, you can see it beautifully. Don’t be intimidated by the method of curry fat beef noodles introduced above.

Although the process is a bit more, but it is really very coherent to do it, then take advantage of the freshness of memory, and quickly do it.

[How to make chili sauce]_How to make_How to make

[How to make chili sauce]_How to make_How to make

Many people like to eat peppers and hot sauces, which are more stimulating. Peppers can promote gastrointestinal peristalsis. Peppers can prevent colds and prevent radiation. Peppers can prevent gallstones, lower blood sugar, peppers can lose weight, and peppers can be friedYou can also make chili sauce while eating. What is the practice of chili sauce?

Let ‘s take a look next.

One.

The practice of chili sauce is to prepare the pepper (the right amount), the right amount of garlic, the right amount of high-grade liquor, and the right amount of salt.

step 1.

Wash and dry the peppers.

Prepare the right amount of garlic as needed.

2.

Mince the peppers and garlic, mix and add an appropriate amount of salt.

3.

Add a little high spirits.

4.

Sealed and stored, usually about a month!

Do not touch the water during the production process, and do not open the bottle during storage.

The effect of two peppers 1, to strengthen the stomach and help digestion. As mentioned earlier, peppers can stimulate the oral cavity and the gastrointestinal tract, can enhance gastrointestinal motility, promote digestive juice secretion, improve appetite, and can inhibit abnormal intestinal fermentation.

Some medical and nutrition experts surveyed Hunan, Sichuan and other provinces and found that the incidence of gastric ulcers in these provinces and regions where peppers are commonly eaten is much lower than in other provinces and regions.

This is because pepper can stimulate the release of human prostaglandin E2, which is beneficial to promote the regeneration of gastric mucosa, maintain cell functions in the body, and implant into gastric ulcers.

2. Prevention of gallstones. Eating green pepper often can prevent gallstones.

Green peppers are rich in vitamins, especially vitamin C. Excess cholesterol in the body is converted into bile acids, which prevents gallstones. Those who have already suffered from gallstones eat more vitamin C green peppers, which has a certain effect on alleviating the disease.

Red pepper crystallized breast cancer-Researchers have recently discovered that “red skin” fruits and vegetables such as red apples and red peppers have a role in cancer diseases such as cancer.

3.

To improve the function of the heart With pepper as the main raw material, with garlic, hawthorn extract and vitamin E, it is made into a “health product”, which can improve heart function and promote blood circulation after consumption.

In addition, regular consumption of pepper can reduce blood lipids, reduce thrombosis, and have a certain preventive effect on cardiovascular diseases.

4.

Scientists in Jamaica have demonstrated that capsaicin can significantly reduce blood sugar levels.

5. Relieve skin pain.

Studies have found that capsaicin can alleviate skin pain caused by many diseases.

6, pepper has a weight loss effect, pepper contains a substance that can expand the blood vessels, stimulate the body’s heat generation system, effectively burn the aunt in the body, accelerate metabolism, make the body consume faster, and achieve the effect of weight loss.

7, anti-cold and spicy food has Tongli lung, Tongqiao table, Tongshun blood “three links” role.

8. Blocking radiation Red pepper, black pepper, curry and other spices can protect the cell from DNA radiation damage, especially gamma rays.

9, to promote longevity Chinese medicine believes that spicy food can not only promote blood circulation, but also increase brain cell activity, help delay aging, and relieve various diseases.

10. Warm the stomach and dispel cold.

“Materia Medica” said that pepper can warm the spleen and stomach.

If you experience vomiting, diarrhea, or stomachache in cold weather, you can eat some peppers.

11. Promote blood circulation.

Pepper has certain medicinal properties, so it can “remove wind, sweat, phlegm, and dehumidify.”

“According to modern medicine, it can promote blood circulation, improve fear of cold, frostbite, and vascular headache.

13, skin beauty.Pepper can promote hormone secretion in the body and improve skin condition.

Many people think that eating spicy can cause acne, but it is not a problem with peppers.

Only the essence of acne-prone constitution, after eating peppers will add fuel to the fire.

13. Reduce fat and lose weight.

Capsaicin can accelerate the decomposition of adults, and the rich supplementary fiber can also reduce blood lipids.

three.

Precautions People with a bad stomach should not eat chili.

[How to make curry risotto]_ Home made curry risotto _ How to make curry risotto _ How to make curry risotto

[How to make curry risotto]_ Home made curry risotto _ How to make curry risotto _ How to make curry risotto

People often suffer from stress, their diets are irregular, and their bodies are sub-healthy.

In fact, when you take a break, you learn to cook yourself, and torment yourself during the weekend break.

Let’s introduce the curry risotto first, and make some time to make it yourself.

1.

Prepare raw material 2.

12 Carrots are chopped, and the Pleurotus eryngii is chopped, and the water is removed from the microwave for use3.

21 green bean braised water spare 4.

After 1 savory chopped half onion minced 5.

2 Put a moderate amount of olive oil in a wok and slowly fry the curry pieces.

Add in all the vegetables and stir fry for 2-3 minutes. Add oyster sauce and salt to taste.

Pour leftover rice and stir-fry evenly 8.

Add just the right amount of black pepper and chicken.

Pour into a glass bowl 10.

Sprinkle mozzarella cheese in the right amount and spread it. If you want to draw well, add 11 more.

Sprinkle some black pepper on top, preheat the oven for 200 degrees and bake for 10-15 minutes to melt and color.

My mother’s mood of waiting for cooking is also stressful. Let us try to make this curry risotto together in a relaxed and happy mood. Enjoying the cooking process is a favorite of housewives.

Chongqing Department Store (600729) released a comment: Controlling shareholders’ mixed reform participants determine the business potential pending release

Chongqing Department Store (600729) released a comment: Controlling shareholders’ mixed reform participants determine the business potential pending release
The controlling shareholder and the investor confirmed that Wumart & BBK participated in the mixed reform of Chongqing Department Store, and the 北京spa会所 controlling shareholder “Commercial Group” mixed ownership reform plan came into effect: 1) The trading company group has established a board of directors, confirming that the proposed date for the mixed ownership reform of the trading company group is WumartAnd BBK Group.After the completion of the mixed reform, the shareholding structure of the trading company group is Chongqing SASAC / Wumart Group / BBK Group respectively holding 45% / 45% / 10% of the shares without actual controller; 2) Indirect ownership of mixed reform investors by Chongqing Department Store listed companyIs 25.52 yuan / share (Shangshe Group holds 45 listed companies.05% equity); 3) The trading company group intends to issue a comprehensive offer to all shareholders of shares without trading conditions, the offer price is 27.16 yuan / share.The main purpose of this tender offer is to obtain sufficient options for investors, not to terminate the listing of Chongqing Department Store.The tender offer plan will be released after the strategic agreement is signed for a formal agreement; 4) The trading company group is a commercial entity affiliated to the Chongqing SASAC. According to this distribution announcement, the trading company group’s revenue in 2017 was 49.1 billion yuan and net profit was 710,000 yuan. The three parties collaborated to conspire to change the Southwestern Retailing Bureau. According to the data from the Chain Store Management Association, in 2018, the trading company group, Wumart Group and BBK Group ranked 8th and 14th among the top 100 chain stores, with annual sales scales of 675/483/390.Zhao, with 413/1055/686 stores, of which the Shangshe Group’s stores are mainly concentrated in Chongqing, Sichuan and Guizhou; BBK Group has deeply cultivated markets such as Hunan, Guangxi, and Jiangxi. The coordinated development of the three will become an important retail market in the southwest.Power (According to the requirements, the war investment party needs to form a regional complement to the main distribution of Chongqing Department Store and promises to entrust Chongqing Department Store to host related businesses in the same industry competition area). The consolidation and consolidation of leading southwestern regions, the mixed-controlling shareholder landing or the release of operating vitality. By the end of 1Q19, Chongqing Department Store had a total of 316 stores of various types, with an operating area of more than 239. It is an important commercial leader in the southwestern region.In 18 years, the company’s operating profit margin was only 3.01% (Excluding immediate consumption financial investment income only 2).28%), lower than Ewushang A (8.39%), Hefei Department Store (4.21%) and other regional retail companies.After the mixed reform is completed, listed companies are expected to gradually release their operating vitality.Temporarily maintain the forecast of net profit attributable to mothers for 19-21 years to 9.1/11.1/12.700 million yuan (of which 3/3 of investment income is contributed by immediate 武汉夜网论坛 consumer finance.5/4.40,000 yuan), the evaluation of the main retail business and immediate consumer financial company segments, a reasonable value of 39 yuan / share, corresponding to 19 years 17 years.4xPE, maintain “Buy” rating. Risk reminders: Macroeconomic downturn and continued weak consumption; migration of business districts, weakening of the ability of major stores to gather customers; and strengthening supervision of the consumer finance industry.Bad debt risk broke out; mixed improvement was lower than expected;

Jin Shiyuan (603369): Product power and brand power boost the company to take off

Jin Shiyuan (603369): Product power and brand power boost the company to take off

Product power and brand power mutually support each other, consolidating the foundation for the company’s development and continuous brand building. Today Shiyuan has gradually formed a national brand from distorted real estate wine, and consumer awareness has continued to increase.The image of “baijiu” is deeply rooted.

We believe that the continuous improvement and mutual support 南京夜生活网 of Shiyuan’s product power and brand power have broken the foundation for the company’s development, and the company’s performance may continue to grow rapidly.

We estimate that the company’s EPS for 2019-2021 will be 1.

15 yuan, 1.

45 yuan and 1.

83 yuan, target price range is 39.

10 yuan?
41.

40 yuan, maintain “Buy” rating.

  Product upgrade: The launch of Guoyuan V9 high-end products is conducive to increasing consumer brand awareness. The high-end products Guoyuan series have been cultivated and constructed for 15 years since its launch in 2004, and have become a weapon to promote the rapid development of this world.

In addition to the sub-high-end products represented by Folio and Sikai, Jinshiyuan actively launched high-end products of the V series. In August 2019, Qingya Sauce’s Guoyuan V9 was launched, consolidating Jinshiyuan’s confidence in participating in head competition.The launch of high-end products is conducive to improving consumers’ brand awareness of this world.

The company’s 2019 interim report shows that the operating income of special A + products represented by the national margin V series, folio, and quartile.

7.4 billion, an increase of 44 in ten years.

33%, accounting for 49% of the company’s liquor revenue from the same period last year.

37% increased to 54.

98%.

  Brand building: The company has steadily promoted basic marketing and continued to improve its brand power. The company has steadily promoted marketing. In addition to marketers and local platform advertising, the company has strengthened the promotion and promotion of national advertising.

Since April 2014, Jin Shiyuan has been named the CCTV large-scale public welfare tracing program “Waiting for Me” for 5 consecutive years. In January 2019, Jin Shiyuan’s image promotional film appeared on the outdoor screen of Times Square in New York for the third time.The world showed the unique charm of “China’s national fate, the world is bound to the world”; In September 2019, the main venue of the Central Radio and Television Central Mid-Autumn Festival Party was settled in Huaian, Jiangsu. Today, Shiyuan has become the chief support unit of the main venue of Huaian.

A variety of innovations go hand in hand in this world, taking the pace of substitution in the nationalization of the brand and even internationalization.

  Market layout: Strengthen cooperation with wine channels from other provinces and wine companies, and actively break through the markets outside the province. Jiangsu, as the base market of this world, has always occupied more than 90% of the income structure of this world.

But only if the company strengthened the construction of markets outside the province and created a more precise marketing policy through the advantages of the platform can the breakthrough in the markets outside the province be achieved.

In May 2018, Jinshiyuan and Zhejiang Shangyuan Group signed a strategic cooperation agreement to help the company achieve a breakthrough in the Zhejiang market. In October 2018, Jinshiyuan announced the acquisition of 34% -49% of Shandong Jingzhi Wine Co., Ltd.To jointly develop the Shandong market.

  The company’s performance may continue to improve, maintaining the “Buy” rating. We believe that the company continues to promote product and brand strength through product upgrades, brand building and market layout and other measures, and the company’s performance may continue to improve.

What do we expect the company 2019?
In 2021, sales revenue will be 48.

7.3 billion, 62.

1.6 billion and 78.

370,000 yuan, an increase of 30%, 28% and 26% each year, and EPS is 1.

15 yuan, 1.

45 yuan and 1.

83 yuan, the average PE of the comparable company in 2019 is expected to be 34 times, giving the company 34 in 2019?
36x PE estimates that we have raised our target price range to 39 due to changes in the benchmarking company.

10 yuan?
41.

40 yuan, maintain “Buy” rating.

  Risk warning: industry competition intensifies, macroeconomic performance exceeds expectations, and food safety issues.

Geer Software (603232) Quarterly Review: Expected Q4 Revenue Growth Over 40%, Implementation of Cryptography Method Is Really Good

Geer Software (603232) Quarterly Review: Expected Q4 Revenue Growth Over 40%, Implementation of Cryptography Method Is Really Good

The event company released the third quarter results announcement on October 25, and the first three quarters net eliminated 550.

930,000 yuan, a profit of 1123 in the same period last year.

920,000 yuan; operating income1.

51 ppm, a reduction of 2 per year.

77%.

The one-month confirmation rhythm affects Q3 performance. The reversal of the growth rate of the Q4 report is a high probability event. Considering the attributes of the company’s customers, the gradual increase in revenue we believe is mainly related to the single-month confirmation rhythm in September.

According to the 2018 annual report, the company’s operating target for 2019 is about 3.

700 million.

Assuming the business goal is achieved, the company’s Q4 revenue is estimated to be about 2.

200 million, an increase of 47% in ten years.

Considering that most of the company’s customers are old customers, we believe that the company’s business objectives are highly predictable.

And the company in the 2017 annual report made the 2018 business target forecast (target revenue 3).

200 million, actual income 3.

100 million), basically achieved.

The forward-looking indicators such as advance receipts remain positive, and the mismatch in revenue costs affects current profits. According to the three quarterly report, the company’s advance receipts reached zero.

800 million, continued to grow sequentially, an increase of 67% per year.

Since the third quarter of 2018, the company’s advance accounts have maintained rapid growth, but at the same time revenue growth has been weak.

Considering Q4 is the peak of project confirmation, we are optimistic that the company’s revenue growth rate matches the business climate.

The company’s net profit in the first three quarters was slightly loss, mainly due to a substantial increase in expense ratio of approximately 18.

Nine related ones, of which the management expense ratio increased by about 13.

9 units.

We believe that the substantial increase in the expense ratio is mainly related to the mismatch of revenue and cost (the company’s costs are relatively rigid, but the peak of revenue recognition is in the fourth quarter, according to the announcement that the company’s revenue ratio in the fourth quarter of 2018 is about 50%).

Considering the business climate, we maintain our profit forecast unchanged.

Cryptography law imminent, company 2020?
2021 high growth is worth looking forward to According to Xinhua News Agency, the cryptographic law will be implemented from January 1, 2020.

Policy-driven, localization of passwords and the expected decline of cities and counties are accelerating.武汉夜生活网

Based on this, regardless of the new business including security controllability and camera security contribution, maintain the company’s net profit attributable to mothers in 2019-2021.

77, 1.

00, 1.

4.6 billion US dollars, maintaining a target market value of 5.2 billion US dollars, maintaining the level of holdings. Risk reminder: Progress in the replacement of state secrets is gradually expected, the security development of the Internet of Things is expected, and market competition is intensifying