Category Archives: 桑拿

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Linglong Tire (601966) In-depth Report: Industry Polarization Leads Linglong

Category : 桑拿

Linglong Tire (601966) In-depth Report: Industry Polarization Leads Linglong

The company is a leading company in the domestic tire industry, with the following characteristics: 1) Scale: Among domestic tire companies, the company ranks second in revenue scale, ranks first in profit scale, and has profitability ahead of other peers; 2) Product structure: company productsSemi-steel radial tires are the main products. The output of semi-steel radial tires accounts for 84%, which is beneficial to the company’s competition in the passenger car tire market, especially the retail market. 3) Sales structure: domestic and overseas revenues are halved, with domestic market supporting 6 Success, mainly overseas retail.

The increase in overseas prices for supplementary raw material costs has dropped, the gross profit margin expansion trend has been reorganized, and the company’s profit has accelerated.

The company’s gross profit margin in 17-18 years is at a low stage.

In the early days, Michelin and other overseas tire giants raised prices, and the cost of raw materials for mergers and acquisitions fell slightly. The company’s average product price increased by 6 in the first half of the year.

66% to 300 yuan, gross margin increased by 1 in ten years.

4 points to 25.

23% (q2 gross margin 26.

18%), gross margin expansion trend improved.

The four elements of R & D, branding, sales, and manufacturing build an exquisite moat.

1) R & D: R & D investment 淡水桑拿网 is ahead of domestic counterparts, and product performance tests have repeatedly achieved good results, laying a foundation for supporting and retail market expansion.

2) Brands: diversified brand portfolios and precise positioning of target groups for sports marketing; 3) Sales: supporting markets, the company expands from independent brands to joint ventures, derivative brands, enters the German Volkswagen supporting chain, and realizes the new models of FAW-VW and Changan FordMain tire matching; retail replacement market, domestic and overseas retail sales have achieved double-digit growth.

4) Manufacturing: “5 + 3” strategic planning production base. The company’s semi-steel radial tire factory is large in scale, low in employment costs, and low in raw material procurement costs, making the company’s gross profit margin higher than its domestic counterparts.

The supply side has contracted, domestic tire production has fallen, the company’s production and sales have steadily increased, and its market share has continued to increase.

The polarization of the tire industry, Sino-U.S. Trade frictions, domestic environmental audits and other incidents have accelerated the tire industry’s de-capacity and deleveraging.

China’s tire output in 2018 decreased by 23% from its 13-year high, while the company’s output increased by 53% during the same period.

The company’s China plant output is currently total.

68%, and it is increasing year by year.

Collaborative layout to prevent risks, the Thai plant has become an engine of performance growth, and Serbia has started construction to add momentum.

In order to avoid the suppression of US trade, Linglong Tire established a factory in Thailand earlier. The Thai factory has now become the engine of overseas revenue and profit growth.

The start of the Serbian plant will give the company additional impetus.

Earnings forecast and forecast: Net profit is expected to be 15 in 19/20.

4.8 billion, 19.

07 million yuan, the corresponding growth rate is 31.

08%, 23.


The 19/20 EPS were 1 respectively.

29 yuan, 1.

59 yuan, corresponding to the current sustainable 16 times, 13 times PE.

Give a target price of 25 yuan, corresponding to 15 times PE in 20 years.

Cover for the first time and give a “highly recommended” rating.

Risk warning: Domestic OEM customers increase sales of new cars, supporting business exceeds expectations; the Sino-U.S. Trade war expands, the U.S. resumes anti-reverse investigations on the tire industry; the cost of major raw materials such as rubber increases, gross margin shrinks;Meet expectations.

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Ten times base trader releases new products for three years

Category : 桑拿

“Ten times base” trader releases new products for three years

Source: Original title: “Ten times base” trader has released a new product for three years to set the time to witness the time value In the stock market, many investors are committed to finding “ten times the shares”.

The term was coined by investment guru Peter Lynch, meaning a stock that can grow tenfold.

  In the fund market, there are similar “ten-fold bases”. They have outstanding long-distance running capabilities and earn excess returns for holders.

  16 years ago, Huaxia’s return came out, and its incremental return to power has now exceeded 1,100%.

  Thirteen years ago, Huaxia Return No. 2 came out, and its incremental return to power has now exceeded 520%.

  On August 22, Huaxia Changyang will officially launch a hybrid fund (code: 007207) for three years.

  Literally, Huaxia Changyang has nothing to do with the Huaxia Return Series. In fact, their core is the same: managed by Cai Xiangyang, the star fund manager of the Huaxia Return series. The product follows the same investment philosophy, investment scope, and investment as the Huaxia Return.aims.

  The Chinese product of the Xia Return Group, which is ranked in the “ten-fold base” club, is the most popular. So, what will China Xia Changyang set to open this new product for three years for investors?

  Hard data: Continued efforts to create the “ten-fold base” miracle. Huaxia, which was established in 2003 and successively established a series of products, have now become the benchmark product in the domestic public fund industry, creating a very brilliant investment performance.

  For investors, if he chose Huaxia Return in 2003, he would get: 17% annualized return on investment: Huaxia returns are based on absolute returns. Since its establishment in 2003, the investment has been annualized for nearly 16 years.The yield is 17%.

  Over 11 times of returns: Hua Xia Returns is the second fund of Hua Xia Funds to increase its net value by more than 10 times. At present, there are 12 mixed funds with a total market income of over 10 times.

  83 Dividends: Since the establishment of Huaxia Return, there have been 83 dividends, with an average of 3 dividends per unit.

0 yuan, total dividends over 12.2 billion, is the most active equity fund with the largest number of previous dividends.

  Since then, Huaxia Return No. 2 has been established, and Huaxia Wensheng has also performed well.

Since the establishment of Huaxia No. 2, the cumulative income has exceeded 520%; the income since the year reached 17.


Since the establishment of Huaxia Wensheng, the incremental income has been 10.

04%; gradually gaining 29 in one year.

76%, outperforming the Shanghai Composite Index of 25.

37 averages.

(Data source: wind, as of 20190816) What are the reasons for the investment miracles of Huaxia Return Series products?

Over time, why is the investment strategy of Huaxia Return Series products more powerful?

  The value investment philosophy and strict stock selection standards pursued by fund manager Cai Xiangyang are key.

  Killer: Value investment guarantees the absolute return of investment across bulls and bears. It’s like long-distance running, testing strength and testing endurance.

What matters is not the speed of the moment, but the long-lasting results achieved after crossing the bull and bear.

  Cai Xiangyang’s absolute investment ability is very outstanding.

  As of July 25, all products managed by Cai Xiangyang had achieved positive returns at the beginning of their tenure.

  Since 2011, every combination managed by Cai Xiangyang has also achieved positive returns.

  As the saying goes, “Possibility and risk coexist.

“A fund manager’s excellent investment ability depends not only on how well he performs, but also on his risk control methods.

When the market performed poorly, Huaxia’s returns also maintained earlier levels of retracement and turnover.

According to statistics, since 2008, the broader market index has continued to decline more than 15% on eight occasions, of which six times the decline in China’s returns over the same period has fallen by less than half the index.

  (Data source: Wind, data range 20080103-20190104) The absolute return obtained through bulls and bears comes from strict investment discipline.

  Cai Xiangyang pursues a value investment philosophy and strict stock selection standards, values performance stability and the long-term growth of the industry in which he works, and uses fundamental factors as the best criteria for selecting individual stocks. He does not participate in short-term market speculation.

His expected long-term earnings, dilute the short-term fluctuations, concentrate on mining long-term bull stocks, and reduce the costs brought by continuous stock adjustments.

Based on full confidence in the company’s future profits and estimates, once bought, it must be held for a long time and strive to obtain excess returns.

  New weapons: The three-year holders’ selection of the leading Nuggets future potential levels of the Huaxia return series are all open-end funds, and Huaxia Changyang uses a three-year fixed operation model.

Cai Xiangyang explained that this reflects the product’s goal of pursuing steady returns, taking into account the independence of the investment strategy and the holder’s investment discipline.  Specifically, the closed operation for three years avoids the liquidity management pressure caused by product purchases under market fluctuations, which is more conducive for fund managers to focus on investment in a good environment with stable product scale.

  At the same time, holders can establish good investment discipline and more fully share the long-term 武汉夜网论坛 benefits of the A-share market.

Overall, the long-term returns of the A-share market have significant advantages in major global markets, but due to short-term conversions, alternative purchases and redemptions of fund products often bring poorer experience to holders, while closed operations canExtend the cycle, accumulate patience, tap the potential, and wait for the flowers to bloom.

  According to relevant data, in the history of A-shares, the purchase of partial stock funds at any time for more than 15 years has a high average holding yield of 3 years and above: (Data source: Wind, data range 20040101-20190501)In terms of three-year rolling income, the advantages of Huaxia’s return series products are even more prominent.

  Compared with the same type of partial stocks in the whole market, the balanced hybrid fund index observes rolling fixed-term yields, that is, from May 28, 2014 to July 30, 2019, the three-year holding income of buying Huaxia income at any point in time, Both in terms of winning rate and average return rate, significantly surpass the similar partial stock mix, balanced mixed funds: buy and hold Huaxia at any point in time for 3 years, can achieve 100% positive return (zero return), exceeding partial stock over the same periodMixed, balanced mixed funds (expected proportions are 29% and 23% respectively); buying and holding Huaxia at any point in time for 3 years can achieve an average yield of 38%, and the highest can approach 70%.

  (Data source: Wind, data range 20140528-20190730) In addition to adopting a three-year fixed-open operation model to pursue more stable value-added for its holders, this product also uses the “leading investment strategy”.

Leading companies in the industry can obtain the double premiums of profit and estimates through cost advantages and industrial chain integration advantages under the transition of stable economics and smooth supply-side reforms or spontaneous adjustments.

Cai Xiangyang said that after the 2018 MSCI division of A shares into global indexes, the A share market will usher in an era of global institutional allocation.

Industry leading stocks, due to their significant resource integration advantages, brand advantages, and market share advantages, can gain more market share in the context of economic growth. Compared with other companies, their competitive advantages will be more significant.The strong is stronger, and the stronger is stronger. In the future, it will become the core allocation target of internal institutional investors.

  At this point in time, the release of products can be described as an attack against the market. What specific investment opportunities does Cai Xiangyang target?

  According to reports, from the perspective of estimation and profit matching, the outstanding blue-chip sectors such as liquor, home appliances, and non-bank finance are still expected to receive incremental funding favors to achieve performance growth that will drive up valuations.

From the perspective of the industry’s prosperity, the advanced manufacturing industry using core technology advantages has relatively weak modern medical elasticity, but the certainty of the long-term growth of leading stocks is still continuing. It is expected to usher in opportunities for growth and show growth and upward flexibility.
  His outstanding current A-share market is estimated to be at a historically low level. Structural opportunities are bred in the short term, and the long-term investment value of the entire market will become more significant.

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Woman beware of three misunderstandings after marriage

Category : 桑拿


Woman beware of three misunderstandings after marriage

Misunderstanding 1: Marrying him, not marrying his family. Many women have encountered such a problem: when they were in love, they even knew some of his family’s situation, but did not cause awareness, thinking that he was married to him, but not his family, soI had the idea that his family had nothing to do with me.

  This point of view may seem quite reasonable, but we must know that a person’s life always carries traces of his growth, and family habits are the habits of a person’s subconscious life.

The habits he formed from an early age are difficult to change throughout his life.

  Therefore, marrying a person is not marrying him, or marrying his growth trajectory and all of him.

  Misunderstanding 2: He loves me so much and spoils me. After marriage, he will definitely accept my transformation. Two people with different growth environments, different thinking, and different living habits will live together, and there will be conflicts because of many details.

Although these contradictions are trivial matters, they tend to consume the most marriage tolerance.

At the same time, his insistence on details reflects his stubbornness in ideas.

  Some female friends do not understand this, or use a variety of methods to transform her husband. As a result, men and women start to confront each other, and the home becomes a battlefield without smoke. In the end, women often lose helplessly.

  At this time, women only knew that if they wanted to transform a man, it would be difficult for them to go to heaven!

Faced with futile reform, a woman understands that whether men accept or reject reforms has nothing to do with love or love, and is related to his life trajectory and habits.

Therefore, to marry him, we must know where he comes from.

It is necessary to extend the eyes of appreciation from his body to his origin, that is, his family background.

From there, you can see his present and future tenses in the marriage.

  Misunderstanding 3: Now that you are married, your husband should belong to our little family. Be clear. Your property is not your private property. He belongs to your little family and belongs to his parents, relatives, and friends.

Therefore, his heart must be shared with them.

Even so, your love must also extend to them through him.

  Therefore, when you fall in love with a man and want to marry him, you must be mentally prepared. You are not just marrying him, you are marrying his lifestyle and family background and social background.

Be clear, the man you are facing is not an individual, or the group of people behind his family environment and social interaction.

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Eating bloody glutinous rice effectively improves dry skin

Category : 桑拿

Eating bloody glutinous rice effectively improves dry skin

Blood glutinous rice has the functions of nourishing the liver, nourishing the face, and tanning the skin. It is suitable for malnutrition, iron deficiency anemia, pale complexion, dry skin and weak body.

In the cold and dry winter, young women do not hinder the proper consumption of bloody glutinous rice to alkaline skin care.

  According to the theory of health care in traditional Chinese medicine, five colors enter the five internal organs, that is, foods of different colors have different health-care effects.

Usually, black enters the kidney, yellow enters the spleen, white enters the lung, cyan enters the liver, and red enters the heart.

  Red blood glutinous rice, into the heart Sutra.

According to Chinese medicine, the heart is the main blood, and its effectiveness is related to the nourishing qi and blood.

Taking bloody glutinous rice can absorb the astringent effect, and it is an adjuvant treatment for experiencing multiple diseases.

  It should be noted that bloody glutinous rice is highly viscous and easy to produce sputum, so fever, cough, thick yellow sputum and poor gastrointestinal function should not be eaten more.

  Sanhong Buxue Yiyan Porridge: 50 grams of blood glutinous rice, 10 red dates, 10 grams of Chinese wolfberry, brown sugar in moderation.

Wash the red glutinous rice, soak it in water for 4-6 hours, pour the red glutinous rice into a casserole, boil the red glutinous rice on high heat and continue to cook for 20 minutes on medium heat, add wolfberry and red dates, and cook on medium heat for 20 minutes, then replace the low fire.Boil for 1 hour.

After cooking, add brown sugar and serve immediately.

It has the effect of nourishing blood and beauty.

  Red Date Sheep Bone Glutinous Rice Porridge: 1-2 bones of sheep skull (pork bone is also available), 30 red dates, 100 grams of bloody glutinous rice.

Smash the sheep skull bone (or pork bone), remove the red dates, and add the appropriate amount of water to the above ingredients and cook in a pot.

It has the effect of nourishing spleen and blood, nourishing kidney and bones.

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Man running is key to time

Category : 桑拿

Man running is key to time

Some people wake up early, get up early in the morning, and prefer to exercise outside at dawn.

Some go to the park, some go to the grove by the road and do various exercise activities or running.

They believe that the morning air in the garden is fresh and free of dust, which is good for health.

  Running is the easiest and most effective method of fitness, but do you know the best time to run?

  The disadvantages of early morning running are that some people wake up early, get up early in the morning, and like to exercise outside at dawn.

Some go to the park, some go to the grove by the road and do various exercise activities or running.
They believe that the morning air in the garden is fresh and free of dust, which is good for health.
  However, getting up in the morning to exercise is not good for the elderly or people with poor heart function.

Medical statistics show that the early morning is not the peak time for cardiovascular attacks, but also the time when sudden deaths are greatest, with an incidence of 61%.


Yantian, associate professor of sports physiology at Yamaguchi University in Japan, points out that early morning jogging causes excessive stress on the heart, because early in the morning the heart usually substitutes to adapt to complete exercise.

Yantian also said that jogging stimulated a large amount of hormones secreted in the body, which made the heart beat faster.

The results of his experiments on a number of college students show that the amount of adrenaline secreted by people who jog in the morning is 2 to 4 times higher than the hormone secreted by jogging in the afternoon or evening.

  Evening jogging is best. A group of Japanese medical researchers led by Tokyo’s Kyorin University professor assistant Lin Junyi said that evening jogging is better than morning and afternoon.

This was their replacement after performing a step-by-step sequencing test on each of eight men aged 24 to 28 from 7.30am to 5.30pm.

  They believe that jogging in the morning may cause blood clots and promote heart failure, while jogging at night may reduce the tendency of blood clots and prevent heart failure.

  What are the benefits of running: Long-distance running with arthritis and insisting on long-distance running may cause artificial attacks.

This is the American scientist Sherlock observed the lesions caused by the knee joints of marathon runners with the help of magnetic resonance imaging equipment.

  Sherlock found that athletes rarely experience spinal tissue abnormalities and fluid accumulation even after completing tens of kilometers of long-distance running.

Conversely, some recreational long-distance runners shortened these physiological changes after 30 minutes of long-distance running.

It is speculated that the adaptability of “better biomechanics” and “body through long-term training” enables marathon runners to run long distances while maintaining healthy and strong knee joints.

  Jogging can strengthen bones Experts from Chiba University School of Medicine in Japan believe that jogging can make bones “young”.

The hospital compared the bone changes of 41 members aged 30 to 80 in three jogging groups in Chiba Prefecture with 86 members who usually do not like sports.The bone density of bones and arm joints is about 40% higher than that of non-exercised people.

This bone density is close to that of a twentieth year.

  For men, the longer the jogging distance in a week, the higher their bone density.

Only those who persevere in jogging can achieve an effect equivalent to the bone density of young people.

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Zhongli is the soul acupoint for treating stomach diseases

Category : 桑拿

Zhongli is the “soul acupoint” for treating stomach diseases

Appropriate Symptoms: Zhongyu points are suitable for most stomach and duodenal diseases, such as gastric and duodenal ulcers, chronic gastritis, atrophic gastritis, and gastric prolapse.
Especially effective for relieving stomach pain and treating indigestion.
  Zhongxuan is a convergent acupoint of four meridians. It is also known as the “soul acupoint” of the stomach.
  The middle acupoint is located on the upper abdomen, anterior midline, and 4 inches above the middle of the umbilicus.
  The commonly used method is by rubbing or rubbing.
Rubbing means that both palms overlap or single palm is pressed on the Zhongli acupoint, and the clockwise or counterclockwise direction is slowly pushed in a circle.
  When massaging acupoints during the massage, care should be taken not to cause friction between the hands and the skin, that is, the palms are always close to the skin, and the subcutaneous fat, muscles and other tissues are used to make a small range of circular movements to make the abdominal cavity feel hot.
The operation is performed regardless of time and place, and it is best to do it half an hour after a meal, and the intensity should not be excessive.
  穴位配伍  配百会穴、足三里穴、神门穴治失眠、脏躁;  配膻中穴、天突穴、丰隆穴治哮喘;  配梁丘穴、下巨虚穴治急性胃肠炎;  Combined with Ganshu point, Taichong point, Sanyinjiao point, and Gongsun point to treat gastroduodenal ulcer; Combined with 脘 point and Liangmen point (electric acupuncture for 20 minutes) to treat biliary ascariasis;, Kodo (combined with acupuncture), treatment of low back pain, dysmenorrhea, irregular menstruation (uterine irregularity); with Qi Hai point, Zusanli point, Neiguan point, Baihui point for gastric prolapse.

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Can you seize a job opportunity?

Category : 桑拿


Can you seize a job opportunity?

Playing poker, the four families compete for the upper and lower kings, each with 13 cards, (three can’t bring cards, there are no sister pairs, and four can blow other cards) The card after you start is 5666678999What card do you play first when you play first?

  Analysis When you first play is -99 — prudent planners at work, you are used to taking a moderate step back, but you will never give up the opportunity, but quietly wait for others to finish the hole cards, and then youThen make a plan, make the best decision according to expectations.

You belong to the faction that hasn’t made a name for three years and has become a blockbuster.

  5 ——Prudent Conservator In your work, you like to handle all kinds of things in the most secure way. You do n’t ask for merit but you do nothing. You believe that if you do your job well, you will have good luck.

Generally speaking, you will quietly wait for the leader’s appreciation and promotion. Before you can’t stop it, changing jobs is so far away for you.

  7 ——Confident adventurer You are good at large-scale planning, and you will not change your goals. Although you plan for some adventures, you are confident in your plan and believe you can succeed.

There are often ups and downs in your work. Fortunately, you can use your strength and luck to get through the risks.

  56789 ——The proficient calculator seems to have no courage, and even the reversible hole cards are quietly let go. In fact, everything is already in your calculation.

Others envy you for your easy success. Do n’t you know that for this heavy lifting, you have no choice whatsoever. Unless there is a very special situation, your work can be said to be leak-free.

  666 ——It is said that in the work of the player, you will impulsively undertake some things beyond your ability, and hope that good luck can come to yourself, but in fact, often impulses will be bad, and some opportunities can actually be graspedIt has also been wasted, and thinking twice before you go will definitely benefit you.

  999 ——Waiting for Opportunities Many times, at work, things that could have been done well, but you always put the initiative into the hands of others, risk waiting for the opponent’s failure, and then you can get the opportunity.

Although I don’t know if it is good or bad, it is a strategy.