‘I knew this,Why did I break his finger just now??’Chen Wenjin pulled out a short sword from his pale face,then,Pose,Forward thrust!

When the tip of the sword touches the skin of the pale face,It was like stabbing the alloy in an instant,Zhen’s short sword almost flew out!
‘Is there any mistake!What black technology is so powerful?Skin looks normal,Once attacked, it becomes so hard,No weapon stabbed!’Chen Wenjin glanced at the short sword,Found that the tip was broken!
Chen Wenjin just wanted to win the sword,Is to consider if the white face is an alien,The weapons used should also have mystery,result,This sword turned out to be only Fanpin。
‘I don’t believe it!’Chen Wenjin is very annoyed,Seeing that there is a fire extinguisher on the ground in front,Grab it,Smashed down on the white face!
‘Kang Dang——’The shock of the collision caused Chen Wenjin to let go,Look at the obvious dents on the fire extinguisher that flew away from the collision,And white face,The expression remains unchanged,I didn’t break my scalp a bit,The skin on the forehead is as fair as ever,Still maintains the backward state of retreat。
Chen Wenjin is unwilling,I saw a car repair shop,Went in and got a big wrench,hammer,Smash it with a white face。
moment,Chen Wenjin’s tired gasp,Look at the white face again——Don’t say hurt,No scratches on the skin!
‘This guy、simply、Simply not human!Facing the gap of black technology,I can’t help him if I stand still!’Chen Wenjin throws away the tools,Thinking about impropriety,Pick it up and put it back in the car repair shop,I glanced at the fire extinguisher that flew up when I came out,The traces on it are no way。
Chen Wenjin was forced to give up the idea of knocking down the white face,Now all he can count on is heat weapons,But there is no。
Chen Wenjinzhe back,When the reverse movement of matter stops suddenly,He dragged sister Huo and left。
“Someone is looking for us outside!”Sister Huo is unknown, so,End of the inverse state of matter,She also has no memory of being stabbed to death by the white face。
“Just follow me!”Chen Wenjin can’t explain。
Sister Huo was dragged through the streets,No more objections,It’s only occasionally to show you which way to go out may be more appropriate。She looked at Chen Wenjin’s back under the moonlight,I felt surprisingly at ease for a while,I seem to forget that I’m in a dangerous place right now。

Although the equipment on Strictly Guard Copper has been fragmented,But can barely carry his light energy,Hang the final level,Now all taken off,His level drops again,I’ll be really useless from now on。

but,According to the tradition of the gods,Winner in a duel,Has the right to dispose of the opponent’s equipment,So Master Wu Hao’s actions,It’s understandable。
Let the opponent take off their equipment,To show surrender,It is a routine operation of many gods after winning a duel。
Maybe even Master Wu Hao didn’t expect it,Strictly guarding the copper is so bad,Taking off his equipment would cost him most of his life。
At this moment,The Master Wu Hao in everyone’s eyes stepped forward slowly,I took out a small black pill from my body。
“Eat it!”Lu Menglin said lightly。
Strictly Shou Copper raised his head,A little bit in my heart。
He has heard of such things,Someone after the duel,To prevent the loser from coming back,Will order the opponent to take a special drug,Fix its level for life at the current stage,This is the most vicious method,Unexpectedly, Master Wu Hao would actually use it on himself。
but,Strictly guarding copper is a man of commitment,Since I lost,Then be willing to bet,He took the pill without hesitation,Swallow in one bite。
Maybe his expression is too tragic,It makes those around you feel a little bit sad,Staring at Master Wu Hao with anger。
“Master Wu Hao,He has been scrapped,Why are you?”Gao Dajin also thought Wu Hao was doing things according to traditional methods,Could not help but shook his head and sighed。
Chapter one hundred and seventy Special talent
“enough,Dajin!It seems that this master Wu Hao is not a hero,We got the wrong person,Let’s go!Someone like him,Not worthy to be with us!”
No one thought,It’s the white-faced scholar who seems the weakest,That linguist Mi Xiaochong took the lead in cursing。

Because I didn’t expect so many members to join,Menni Women’s Club immediately faced the dilemma of insufficient space!

But there is no other place to rent,Can only open a branch!
Without any choice,I helped them buy a vineyard nearby!
That vineyard is also commercial,After getting the approval, I started to build a super large women’s club!
Get it in one month,Including decoration。
For green,All materials are naturally polluted!
Mainly bamboo wood and marble granite,It can be used directly after completion,Don’t worry about taste and price!
I came up with the design idea,The designer is Li Lin!
She just attended a training class,Suddenly it was like opening up the two lines of Ren and Du,Show a very amazing design talent!
Everyone who has been here loves it,Full of praise!
New members who came to sign up,Seeing such an environment without saying anything,I bought a ten-year membership。
The previous annual membership was 100,000,Ten-year membership is 800,000。
Those who can afford this member are really rich,Richer than the owner of that annual member!
Zhang Meng and Bai Anni mean Ningquewulan,There are long-term members here.,No need to deliberately force。
If not many people report,Here you can be an old member,Place to relax。
It’s impossible to lose money anyway,Just do this,Others are not important。
Zhang Meng and Bai Anni are not short of money,Menni Women’s Club is just for fun!
But they once again underestimated the number of rich women in Tianfu!
800,000 membership fee,Less than a week,The number of applicants also exceeded one hundred!

They know,My life will be meaningful,My youth will be vigorous,Memorable。No regrets in one’s life,Maybe the best life。

If your life is full of regrets,So no matter how safe your life is,How easy and wonderful,Such life may be boring。
Xiao Fan feels that everyone’s efforts should be rewarded,In fact, after many years, everyone’s efforts have received their own results。
Chapter Four Hundred and Ninety Two Get ready
Xiao Fan and Lin Yoona have both moved out recently,It’s been a long time since the two of them returned to the neighboring Lin’s house,Mainly Xiao Fan has been busy with Shen Lin,I’ve been staying at the villa recently,Did not go home。
Lin Yoona basically stayed with Bai Chen,Or just take care of my work,Two people don’t meet often。
But now this time,Xiao Fan feels it’s really not suitable for romance,Because he has to deal with a lot,Fortunately, Lin Yoona is also a considerate person。
I never asked Xiao Fan for this or that,She will let Xiao Fan do what she should do,Two people understand each other,This is why the two of them have never quarreled since they realized。
Xiao Fan left for three years,Lin Yoona forgave him easily。Xiao Fan plans to take Yiming to get rid of those people completely,Or to convince those people。
No longer thinking about necklaces,Xiao Fan didn’t want them to know,Even if they got the necklace,Does not help their force,Unless Xiao Fan will manipulate the necklace to help them。
Otherwise, even if Xiao Fan is killed,They have nothing to do,Xiao Fan feels that there are some things to let them know,You have to pay for it。
They have done so many detrimental things,It’s time for them to be punished,Xiao Fan never did it before,It’s because Xiao Fan feels that many things are not within his jurisdiction。
Even if he wants to manage, he doesn’t think he can,But now these people’s hands are reaching him,He has no choice。
Xiao Fan didn’t offend me before,I am not a criminal,If anyone commits me,I must be a criminal,To protect some people over the years,He also handled a lot of people。
But now these people have not converged,Instead it gets worse,I always felt that Xiao Fan was tolerant and indulgent towards them。
This made Xiao Fan feel that it was time to attack them,Because Xiao Fan is not a good-tempered person,Life is relatively easy these years,So the whole person looks much gentler。
But the character in a person’s bones cannot be changed,What is his temperament,What kind of temper,Can’t be changed。
So those people think Xiao Fan doesn’t care about them all these years,Indulge them to do something,They can get overwhelmed,I even think that as long as I grab Xiao Fan’s necklace, I can become the strongest。

Wuliangye (000858): Performance forecast in line with expected reform dividends continued to be released

Wuliangye (000858): Performance forecast in line with expected reform dividends continued to be released

The company issued a 19H1 performance forecast, and the company achieved operating income of 271 in 19H1.

50,000 yuan, an increase of 26 in ten years.

At 5%, the net profit attributable to mothers was approximately 9.3 billion yuan, an increase of 31% year-on-year; corresponding to 19Q2 revenue of US $ 9.6 billion, an annual growth rate of 27%, and the net profit attributable to mothers was US $ 2.8 billion, exceeding the growth rate of 32%.

The performance of key investment points was in line with expectations, and the implementation of controlled distribution was smooth: According to the performance forecast, the company expects to achieve revenue of 9.6 billion yuan in 19Q2, an increase of 27%.

Wuliangye raised its price after changing the packaging in May, and the ex-factory price of the eighth-generation Puwu was raised to 889 yuan (+12).

7%), and a small amount is strictly controlled, with only 5250 tons remaining. Q2 visited multiple terminals to show that channel inventory is tight, the company has effective control over volume and price, and the general inventory is less than one month, and the approval price continues to rise.

According to grassroots analysis and feedback, the seventh-generation Wuliangye batch price has stabilized at 930-950 yuan, and the channel profit level has rebounded significantly, and the thrust has accelerated; the eighth-generation general five batch price has been 959 yuan, and the channel also reflects that the thrust is more sufficient after the price.

In addition to the promotion of channel pricing, the distribution of control disks also implements inventory management, cargo flow supervision, and consumer data collection through the scanning system. It delivers goods on a monthly basis and escorts for long-term development.

Reform dividends are promoted, and staff expansion is integrated.

Less than a month after Wuliangye proposed a 北京夜生活网 series of three-in-one wines on June 11, the company’s series of wine integration continued to advance.

At the beginning of July, the management structure of Wuliangye Series Liquor Company was completed. Zou Tao was the chairman of Wuliang Luxiang Series Liquor Company, and the heads of the core regions of Sichuan, Chongqing, Henan, Shandong, Jiangsu and other regions were divided by the series of liquor companies.Director, general manager and deputy general manager are also concurrently appointed. The person in charge of the non-core region is also almost served by the deputy general manager of the original series of liquor, Tetoqu and Wuliangol.

At the same time, the company released a sales staff recruitment plan to build a series of wines.

We believe that the purpose of the Wuliangye series of wine integration is to 夜来香体验网 solve the lack of unified planning for the series of wine plates, backward marketing models, and too many brands.

After the integration, the Wuliangye wine series will ensure that it is different from the main brand in terms of recognition, and further “strengthen the self-owned brand, enlarge the regional brand, and be the best general distribution brand”, creating the Wuliang Luzhou-flavor series wine “4 + 4The brand matrix and the main brand are developed in coordination (Wuliangchun, Wuliangol, Jianzhuang, Wuliang Tetoqu 4 traditional national classic strategic singles, and choose to create “Wuliang people”, “you wine”, “100 feasts”, “hot” 4 personalized key products with channel characteristics).

The number of sales staff, the company’s major recruitment, is expected to continue to strengthen manufacturers’ control over the channel.

Profit forecast and investment grade: It is estimated that the company’s revenue in 19-21 will be 485/582/694 billion, which is longer + 21/20/19%; the net profit attributable to the mother will be 174/213/261 billion, which is longer +30/23/ 22%, PE is 26/21 / 17X, maintain “Buy” rating.

Risk warning: the risk of falling demand, the increased risk of liquor competition, and the macroeconomic growth is not up to expectations.

Yili shares (600887): the top 20 in the world entered the top eight!

Invesco Great Wall is still adding positions!

Can we catch Nestlé and Danone in the future?

Yili shares (600887): the top 20 in the world entered the top eight!

Invesco Great Wall is still adding positions!
Can we catch Nestlé and Danone in the future?

1) Future growth-Look at the adjustment of high-end product structure, whether there are high-end explosive models launched, second look at the overall scale of the industry, and third, see if the market share increase can continue to rise to the level of mature market giants.

  2) Growth-driven-The city’s share has increased, and high-end categories have increased in volume.

  3) Moat-The sales channel is an important moat for this business, from the big dealer model to the deep till small dealer model.

In addition, considering the perishable nature of dairy products and consumer expectations for safety, channel control is at the core.

Judging from the channel moats of domestic dairy companies in general, this case is clearly leading.

In addition, the channels of normal temperature milk and beverages are highly overlapping, so its expansion into the beverage field is also quite easy.

And this is exactly the expansion line of Danone in France.

  4) Market structure-With reference to the experience of mature markets, the market is in the form of a oligopoly. Therefore, the track on which this case is located is far from mature and is still in the growth stage of the duopoly competition.

Due to the uneven distribution of milk sources, the normal liquid milk industry is dominated by room temperature milk, which means that the structure of liquid milk in the future can refer to the mature low temperature milk structure ratio of 65:35 in European mature markets.98% different.

Under such an industry structure, this case has an absolute absolute advantage in the field of room temperature milk (deep channel cultivation + room temperature milk market leader).

  5) Tracking indicator-quarterly gross sales difference.

In this study, when tracking the cost of upstream milk prices, we found that the change in upstream milk prices is more difficult to predict, but that the company’s operating capacity is offsetting changes in milk prices.

Historical experience can be ground up. When the upstream milk price rises, the gross profit margin is under pressure. At this time, the net profit rate will be stabilized by raising prices, upgrading the structure, and reducing sales expenses (that is, the attenuation of promotional discounts).

Therefore,淡水桑拿网 the gross sales difference in the following quarters will become an important tracking indicator. The gross sales difference indicates that its ability to pass on costs is strong and the brand moat is high.

Conversely, when the upstream costs increase, if the company’s gross profit rate declines, the sales expense rate rises (discount promotions), resulting in changes in the gross sales gap, indicating that its sales-end pressure penetrates.

  6) In terms of ROIC performance, in the first quarter of 2019, the ROIC excluding cash in the interim report and the third quarterly report were 88.

19%, 61.

93%, 41.

6%, the reason for the fluctuation is the three quarterly report plus short-term debt interruption.

  7) Risk factors: A, the proportion of chairman’s shareholding, only 3.


After the completion of this equity incentive, the shareholding ratio was increased to 4.

7%, follow-up needs to pay attention to equity incentives; B, the business model of upstream and downstream financing, may make it difficult to convert the situation of stocks from financial reports.

Taiji Industrial (600667): Growth in the first half of the year is stable and the semiconductor business goes up

Taiji Industrial (600667): Growth in the first half of the year is stable and the semiconductor business goes up

Matters: On August 24, 2019, the company released its 2019 interim report.

Total operating income was 83.

710,000 yuan, an increase of 8.

94%; net profit attributable to shareholders of the listed company is 2.

87 trillion, an increase of 39 over the same period last year.

84%; Blacks earn 0.

14 yuan, an increase of 0 over the same period last year.

04 yuan / share.

  Comment: In the first half of the year, the semiconductor business grew against the trend and the engineering business grew steadily. During the reporting period, the company’s semiconductor business completed operating income21.

26 ppm, an increase of 9 in ten years.

42%, accounting for 25% of the company’s operating income.

39%; the operating income of the general contracting business was 51.

25 ppm, an increase of 13 in ten years.

02%, accounting for 61 of the company’s operating income.

22%; design and consulting business completed operating income8.

5.6 billion, accounting for 10 of the company’s operating income.

23%; photovoltaic business completed operating income1.

830,000 yuan, an increase of 16 in ten years.

85%, accounting for 2 of the company’s operating income.


  In the first half of 2019, the company completed operating income83.

71 ppm, a ten-year increase of 8.

94%; completed net profit attributable to shareholders of the listed company.

870,000 yuan, an increase of 39 in ten years.


The 北京桑拿洗浴保健 comprehensive gross profit margin increased slightly, and the company’s comprehensive gross profit margin during the reporting period was 12.

09%, compared with 11 in the same period last year.

39%, up 0.

7 units.

The company’s second-quarter performance achieved steady growth, and Q2 achieved revenue of 45.

63 ppm, compared with 38 in the first quarter.

0.8 billion, up 19 from the previous month.

85%, compared with 41 in the same period last year.

41 trillion, an increase of 10 ten years ago.


At the same time, the company achieved net profit attributable to its mother in the second quarter.

91 trillion, compared with 9599 million in the first quarter, an increase of 98.
71%, compared with the same period last year 1.
2.5 billion, an annual increase of 52.

12%; Further layout of the semiconductor 杭州桑拿网 business, to achieve the semiconductor business against the trend in the first half of 2019, the company through the investment of 200 million (9% of the shares).

48%) Participated in the establishment of Wuxi Tin Microchip Semiconductor Co., Ltd. to further optimize the company’s semiconductor business layout.

At the same time, in the first half of the year, Haitai Semiconductor eliminated the old equipment, enhanced the production capacity of high-end products, and achieved capacity expansion.

With 1Gb benchmark, 1?
In June, the packaging output was 63.

100 million pieces, an annual increase of 4.

5%; package test yield 58.

300 million, an increase of 1 in ten years.

4%; module manufacturing output 2.

7.2 billion articles, down 6 annually.

5%; module test output 3.

500 million, an increase of 11 in ten years.


The production volume of flip-chips representing advanced packaging technology from January to June accounted for 62% of the total output, and 16nm advanced products accounted for 41% of all flip-chip products.

In fact, Tai Chi Semiconductors faces the Sino-US trade war and the global memory down cycle. The top three customers are still basically the same as the same period last year. The company also actively expands cooperation with customers in the second echelon order to ensure the company’s order stability.

The period expense ratio maintains a stable reporting scale, and the company period expense ratio is 6.

80% (+0.

04pct), which remained stable, with a sales expense ratio of 0.

24%, a decrease of 0.

1 unit; management expense ratio 5.

37%, up 0.

19 units; financial expense ratio 1.

19%, a decrease of 0.

05 averages.

It reflects the company’s good level of expense rate control.

The company reported a net cash flow from overall operating activities of -3.

6.5 billion.

With a “Buy” rating, we expect the company to have operating income of 186 in 2019-2021.

700 million, 220.

600 million, 156.

900 million, an increase of 19 each year.

3%, 18.

2%, 16.

5%; net profit attributable to mothers is 7, respectively.

8.3 billion, 9.

4.4 billion, 11.

1.9 billion, an increase of 36 each year.

7%, 20.
5%, 18.

It is expected that the EPS for 2019-2021 will be 0.

37 yuan / share, 0.

45 yuan / share and 0.

53 yuan / share, corresponding PE is 19/15 / 13x, the company is a rare high-tech engineering listed company, and has breakthrough competition in the semiconductor, logistics, photovoltaic engineering fields. It is expected to upgrade in the domestic industry in the future.”Buy” rating.

Risks indicate project quality and safety risks; accounts receivable bad debt risks; photovoltaic market policy risks.

Spring Airlines (601021): Demand Affected by Epidemics

Spring Airlines (601021): Demand Affected by Epidemics

The outbreak affected the company’s demand, and the overall load factor increased by at least a portion.

9pct, maintaining the “buy” Spring and Autumn Airlines announcement of January 2020 operating data, the impact of the new crown virus on the company’s demand side has been reflected in January, and the available seat kilometers increased by 17.

4%, revenue passenger kilometers increased by 7.

1%, the load factor is 82.

4%, down 7.

9 points.

It is expected that civil aviation demand will face the risk of further decline in the short term, and the impact on performance will be affected. The recovery needs to wait for the epidemic to ease. We have lowered our 2019E / 20E net profit forecast to 18.


300 million, the updated target price range is 50.



09 yuan, maintaining “buy”.

The capacity growth rate has remained high, the high expansion of load factor and the new coronavirus epidemic have obvious effects on the travel of civil aviation passengers, which have begun to be reflected in the latter part of a month.

According to the Civil Aviation Administration of China, in January civil aviation completed a total of 5,060 passenger traffic.

20,000 person-times, a decline of 5 per year.


As the leader in pilot aviation, the demand side was suppressed, and the RPK increased by 7.

1%, a growth rate of 6 compared with the previous month.

3 points.

Supply-side companies have not yet fully reacted to reduce capacity, and increased by 17.

4%, an increase of 2.

5 points.

Although the company has a passenger load factor of 82.

4% is still the industry leader, but the supply and demand mismatch or the company’s load factor even dropped significantly 7.

9 points.

The new capacity is mainly on the international route. The annual negative demand for domestic routes has grown from the 19/20 winter and spring season. The company has newly opened international routes, and the adjustment of international route capacity is relatively inflexible.

9%, demand increased by 31.

6%, reducing the international passenger load factor by 9 per year.

9 points to 80.


Domestic line supply increased by 3.

6%, ranking fell by 1 last month.

6pct, but the impact of the epidemic has also reduced demand by 3.

5%, passenger load factor decreased by 6.
2pct to 84.

1%, the lowest since listing.

In addition, the regional airlines have not recovered due to the impact of regional incidents, and have been compounded by the recent epidemic.

8 points to 79.

The first aviation leader waited for the epidemic to lift and demand recovered. According to data from the Ministry of Transport, on February 1st and 14th, the civil aviation exchanged and sent only 380 passengers to replace the Gregorian calendar location 84.

5%, it is expected that the impact of the epidemic in February will be more severe.

However, the demand for civil aviation travel is still at a high-speed development stage, and the company as a specific aviation leader continues to strengthen demand. After the epidemic has eased, the company’s demand side is expected to pick up quickly.

In addition, the State Council proposes to exempt civil aviation development funds from civil aviation companies from January 1, 2020. In the first half of 2019, Spring and Autumn will pay civil aviation development funds1.

7.5 billion, accounting for 15% of total profits.

3%, or will partially relieve performance pressure.

Lower earnings forecast and adjust target price range to 50.


09 yuan, maintaining the “Buy” rating was affected by the new crown epidemic in the short term, and the company’s performance pressure was transmitted, reducing the 2019E / 20E / 21E annual net profit forecast by 1.

6% / 28.

2% / 21.

7% to 18.



700 million.

Reference company 16-19 years estimated multiples (mean 3).

0x PB), give 2.


0x 2020PB (BPS is predicted to be 18 in 2020.

03 yuan), adjust the target price range of 50.


09 yuan.

However, for a long period of time, as a domestic-scale aviation leader, Spring Airlines has improved demand. It is optimistic about the company’s ability to resist interference and disturbances, and maintains a “buy” rating.

Risk reminder: Oil prices 杭州夜网论坛 continue to increase, RMB appreciation, high-speed rail speed up, economic growth gradually, the impact of the epidemic is more than expected, and the replacement is more than expected.

Did you realize the adverse reaction of flying?

Did you realize the “adverse reaction” of flying?
The Spring Festival holiday is coming. Many families may choose to travel by air or return home. This is definitely a convenient choice.Although flying is one of the most time-saving ways to travel, it may also have a certain degree of impact on the body. There are some adverse reactions that you may not even think of.Recently, the health section of the US MSN website has made a summary for everyone.The inner ear is under pressure at a typical cruising altitude (3.(60,000 feet to 40,000 feet), the air pressure in the cabin is equal to the air pressure of 6000 to 8,000 feet of the cylinder.At this time, an acute barotrauma situation will occur, that is, the air-filled body space (such as ears and sinuses) is under tremendous pressure, causing ear discomfort and ear discomfort.The passenger’s ear and throat tube was blocked, unable to balance the air pressure inside and outside the cabin.Although it is uncomfortable, it is not dangerous, and two common methods of swallowing or yawning can be used.If you have an ear or sinus infection, take a decongestant before taking off to reduce discomfort.Swelling of legs During the flight, passengers spend most of their time sitting in the seat, causing poor blood flow in the lower limbs and causing blood clots to form deep in the legs.The longer you sit, the greater the risk of thrombosis, known as deep vein thrombosis (DVT).Although in most cases, the thrombus dissolves on its own, it can cause fatal pulmonary embolism if part of it ruptures and flows to the lungs, causing obstruction.Before the panic, there are ways to reduce risk.First, move your legs frequently and walk around the cabin every hour.As a result, learn to recognize symptoms, swelling of the legs or arms, pain or tenderness, and fever or redness of the skin.Some people have a risk factor for blood clots, such as 杭州桑拿网 taking birth control pills, pregnancy, a family history of blood clots, mobility, varicose veins, active cancer, and smoking.The air in the cabin that is susceptible to infectious diseases is recycled.Many people shudder at the thought of sharing air with hundreds of strangers in a small space.Contrary to popular belief, however, air is not the main cause of disease transmission on aircraft.Modern airplanes circulate air through the filter 20-30 times per hour.Newer aircraft are also equipped with high efficiency particulate air (HEPA) filters, which can capture 99.9% of particles.The real danger comes from contact. Some infected particles come into contact with the face, nose and eyes.How to protect yourself?Wash your hands after touching public goods, close your mouth, and clean the nearby area with a disinfectant wipe.Humidity on dewatered aircraft is very low.Approximately 50% of the air in the cabin is drawn from the outside.At such high altitudes, there is almost no moisture in the air, which means that you will soon feel dry.You may feel more uncomfortable if you drink alcohol before boarding the plane.The effects of dehydration caused by air travel are severe.However, there are also simple ways to overcome dehydration, such as drinking more water and applying moisturizer on the face or hands to keep the skin hydrated.Psychological pressure increases sharply Unless you are a Platinum Card customer, air travel will make you feel psychologically stressed, such as rushing to the airport and taking your luggage in a hurry before departure, turbulence during flight, extreme temperatures and fatigue, andJet lag responds, and during this time there is almost nothing that people want.Hypoxia in the cabin can also affect pressure levels.Worrying about an increase in hypoxia and getting worse, for those who are nervous about flying, the whole experience can be unpleasant.Leading to high temperature and hypoxia can also be tiring.When the plane ascends high, the amount of oxygen in the blood decreases, which reduces the amount of oxygen flowing to the brain.Long-haul flights are most likely to deprive passengers of sleep, and alternately manifest themselves on the mental and physical levels.You can use some basic health habits to alleviate these discomforts, or try taking a natural sleep aid such as melatonin, use essential oils to soothe restless nerves, and eat healthy snacks to wake your mind.Inflated passengers feel increased exhaust during the flight.The accumulation of excess gas is one of the uncomfortable experiences in air travel.As the altitude increases, the air pressure decreases.Have you noticed that the shape of the plastic bottle changes throughout the flight?The same phenomenon happens in habits.When the air pressure drops, the air expands into extra space, which can cause indirect discomfort and inflation.As with other flight-related illnesses, drinking plenty of water and walking around are two possible ways to reduce stress on your body.Avoid eating foods that contain too much salt and traces.Exhaust air when you go to the bathroom. The problem is even worse if you break it.Emotional Even calm adults can easily become emotional on the plane, not to mention crying children on the plane.Stress during travel has a six-month greater impact on the spirit than the superposition.Flying is about to cause physical discomfort, passengers have little personal space, and the narrow cabin gives a sense of depression.This is why passengers are prone to anger if the plane takes off late or if an accident occurs.Impaired decision-making capacity Some studies have shown that even mild hypoxia can affect the way people think.Equivalent to 1.Low oxygen levels of 20,000 feet or more can affect memory and decision making.Although most people don’t notice this decline, people with a disease or previous problems will clearly show cognitive impairment.Changing the function of taste buds Air travel has a great impact on the body’s chemical composition, especially the taste bud function, resulting in a sweet or salty taste that may be different from usual.The stale air in the cabin will also reduce the ability to smell, and the taste function depends to a large extent on the sense of smell.The sensitivity of the taste buds can be reduced by up to 30% during the flight, so some people are eager to eat rich and salty foods when flying.Triggering medical emergencies turned into an increase in the number of elderly passenger trips, and medical emergencies on the plane also increased.The most common are temporary loss of consciousness (syncope) due to insufficient blood flow to the brain, respiratory symptoms, nausea or vomiting, heart symptoms, and seizures.Although flight attendants have received basic training in first aid techniques, more urgent situations require professional medical staff to handle them.Aggravating toothache Although it is not as common as earache, people who fly often will feel it worse.If you already have a toothache, consider carefully whether you still need to travel by plane or at least bring a small amount of painkillers to help you through the difficult times.Although air pressure injuries to teeth are not as common as other problems, they can definitely cause trouble.Accelerate skin aging. If passengers travel with a mask during the flight, use hydrating sprays and moisturizing lotions, they actually know how to care for the skin.Not only will air travel cause dehydration in the body, but it will also incredibly expel more than 37% of moisture from the skin.Disturb circadian jet lag. Someone has terminology that describes fatigue during travel.This is a very real situation, and it has something to do with circadian rhythm, that is, the biological clock tells us when to sleepy, wake up and eat.When people travel long distances in short periods of time, the body does not have enough time to adjust.The more time zones you cross, the more likely you are to experience jet lag, which can cause problems such as nausea, exhaustion and gastrointestinal upset.Get enough sleep before you travel, give yourself an extra day to adjust, and gradually adjust your schedule before you travel, expecting to reduce the adverse effects of jet lag.Aggravating the resulting disease In most cases, healthy travelers can overcome the consequences of flying.You may feel uncomfortable here, there is something wrong, but when you reach your destination, there is nothing wrong.However, the reality is very different for travelers who have their own disease.Those with cardiopulmonary disease, cerebrovascular disease, and anemia will feel their symptoms worsen during the flight.Experts recommend that people with potential or chronic illnesses consult a doctor before travelling for possible problems and prepare accordingly.Compile / Chen Jihua

Hikvision (002415) Third Quarterly Report Review: Third Quarter Results Improved, Significant External Impact Slows

Hikvision (002415) Third Quarterly Report Review: Third Quarter Results Improved, Significant External Impact Slows

Event: The company released the third quarter report of 2019.

The first three quarters of 2019 achieved operating income of 398.

40,000 yuan, an increase of 17 in ten years.

9%; net profit attributable to mother 80.

3 ten percent, an increase of 8 per year.

54%; operating income of 159 in the third quarter.

2 ten percent, an increase of 23 per year.

1%, net profit attributable to mother 38.

110,000 yuan, an increase of 17 in ten years.


The actual value of the first three quarters of results lies at the center of the forecast performance range.

  Core points: 1.

Q3 performance rebound trend is obvious, inventory improvement to keep the supply chain stable.

  The company’s performance lows appeared in the first quarter of this year, and experienced a trend of recovery from Q2 to Q3.

Among them, Q3 net profit margin increased significantly compared to Q2, an increase of 4.


The decrease in expense ratio was mainly due to financial expenses. Due to changes in exchange rates, exchange gains increased during the period.

The increase in the company’s Q3 net operating cash flow was due to the company’s advance in the layout of the supply chain, and its inventory increased 杭州养生会所 by 71 in the early and early stages.

96%, smoothing external risks.

The company’s performance has improved and the trend has remained unchanged.


R & D funding has not diminished, and external influences will slow down in the future.

The company’s R & D investment in Q3 continued to increase, with USD 4 billion in the first three quarters, an annual increase of 30.

2%, accounting for more than 10% of income.

Since the beginning of this year, the company has faced two major influencing factors: the fastest growth in domestic security and overseas risks caused by foreign trade frictions.

In terms of the domestic industry, the company is actively transforming the AI layout; foreign factors have landed, and there is ample layout in addition to the supply chain. Related components are highly replaceable and external factors are slowing.


Maintain the “overweight” rating.

Hikvision’s EPS for 2019E-2021E is expected to be 1.



94 yuan, corresponding to PE is 23/19/16 times.

  As a leading domestic security company, there is huge potential space in the future business field, maintaining the “overweight” level.


risk warning.

The growth rate of the industry predicts risks, and innovative businesses are worse than expected.