Tasly (600535): Planning for sale of major assets, focusing on industry

Tasly (600535): Planning for sale of major assets, focusing on industry

The company recently announced that it intends to sell its shares of Tasly Pharmaceutical Marketing Group to Chongqing Pharmaceutical, and plans to further focus on the pharmaceutical industry.

Comments on the proposed sale of assets in the commercial sector, the transaction is still uncertain.

The company signed a “Framework Agreement” with Chongqing Pharmaceuticals, and Chongqing Pharmaceuticals intends to directly and indirectly hold 87 of Tianshi Marketing through cash payment to acquire and acquire the company.

47% equity and shares of Tianshi Marketing held by other shareholders of Tianshi Marketing.

The “Framework Agreement” issued this time is an intentional agreement and is not a final restructuring plan. The specific transaction plan requires further demonstration and communication between the two parties.

If the transaction is successfully completed, the financial quality will be promoted.

Tasly Marketing is mainly responsible 杭州桑拿 for the company’s original pharmaceutical business business segment. Tasly Marketing achieved 116 revenue in 2018.

5.9 billion, net profit1.

00 million, accounting for 64% of the company’s 2018 revenue and net profit.

81% and 6.


If the transaction can be successfully completed, we expect the company’s revenue will be significantly affected, but the profit will be less affected.

Due to the low gross profit margin of the commercial sector and the large demand for funds, we expect that if the replacement is successful, the company’s gross profit margin, accounts receivable and other indicators will face improvement.

If commercial divestiture is achieved, the future will focus on industry.

The company supplements the product line through innovative research and development, cooperative research and development, and product transformation. It focuses on 杭州桑拿 major disease areas such as cardiovascular, cerebrovascular, digestive metabolism, and antitumor.Co-developed pharmaceutical platform.

The data from 1-3Q2019 shows that the proportion of gross profit of each sector in the pharmaceutical industry of existing companies is: Chinese medicine 68.

78%, chemical medicine 26.

69%, biological medicine 4.

53%, we expect that through the company’s continuous expansion in the field of innovative drugs, the future contribution of biopharmaceuticals is expected to gradually increase.

It is recommended to take into account this exclusive directional agreement, we temporarily maintain our 2019/2020 profit forecast1.


11 yuan, an annual increase of 2.

1% / 6.


The company’s current consensus corresponds to 14 in 2019/2020.


8 times P / E.

We maintain our company ‘s Outperform rating and maintain our target price of 20.

00 yuan, corresponding to 19 in 2019/2020.


0 times P / E, compared with the current 30% upside.

Risk trading progress is lower than expected.

Weixing New Materials (002372): Q3’s income-end operating quality is still excellent

Weixing New Materials (002372): Q3’s income-end operating quality is still excellent

The incident described the company’s operating income for the first 3 quarters of 201931.

2 billion, a five-year growth of 5.

2%; Attributable net profit 6.

9.2 billion, a five-year growth of 5.


Equivalent to Q3 in a single quarter to achieve 杭州桑拿 operating income10.

1.5 billion, ten years ago 6.

1%; attributable net profit 2.

49 billion, the previous decade 7.


Event commentary Q3 single quarter revenue growth was negative.

The performance of Q3’s revenue growth was average. In terms of business, due to the weak demand of the overall industry and the increase in the proportion of hardcover houses, the retail business is expected to be under pressure. Under the company’s “structure adjustment, quality-oriented” keynote, the decrease in revenue may resultThe construction engineering business is expected to maintain the growth trend in the first half of the year; in terms of profitability, gross profit margin in Q3 declined and decreased by 1.

8 pct, reducing income and reducing the growth of booth cost; the replacement of product structure changes, the proportion of engineering business with a relatively high gross profit margin increased.

The rate drops by 0 every year.

27, of which sales, management fees increased by 0.

37, 0.

55 pct, financial rate decreased by 0 due to index increase.


Eventually achieved a net interest rate of 24.

55%, a decrease of 0 every year.


The quality of the reports is still excellent, reflecting the company’s operating philosophy.

The market is worried that the growth of the company’s retail sales will decline, and the increase in the engineering growth rate will affect the company’s operating quality. In fact, although the income side is under pressure, the company still maintains better report quality.

The first three quarters received a cash ratio of 1.

14. It remained at a better level. In the case of Q3 single-quarter revenue and performance changes, net operating cash flow3.

1.4 billion, better than the same period last year; the current company’s asset-liability ratio is 19.

1%, down 2 every year.


In addition, the accounts receivable remained stable, and the currency funds in hand were maximized.

Long-term optimistic about the company’s retail business.

The current rapid increase in the proportion of hardcover houses has indeed improved the industry’s retail demand, but the long-term view of the stock market will still replace it.

From the company’s perspective, the sinking of core channels in eastern China and the continuous development of central and western China rely on the core business model advantages. The current 10% city occupancy rate has increased the occupied space; new business waterproof coatings and water purification business and current pipe materialsThe channels are the same. After the channel resources are realized, the growth space will be further opened.

Optimistic about the company’s ability to adjust, look forward to rainbow after the storm.

At present, the 苏州夜网论坛 company’s operation is indeed under pressure. Historically, the company has also experienced excessively difficult times, but it has overcome short-term difficulties through strategic adjustments, such as 2008 and 2014.

The company’s attributable net profit for 2019 and 2020 is expected to be 10.

2 billion, 11.

600 million, corresponding to PE of 23.

6, 20.6 times.

Risk Warning: 1.

Real estate sales increased significantly; 2.

The price of raw materials rose sharply.

Sinopharm (600511) 2018 Annual Report Comments: Overall Business Stable Results Meet Expectations

Sinopharm (600511) 2018 Annual Report Comments: Overall Business Stable Results Meet Expectations

Introduction to this report: The overall main business maintains steady growth, the advantages of hemp business continue to consolidate, and new businesses such as industry and oral cavity are actively exploring to maintain the level of overweight.

Investment points: Maintain the company’s holdings.

The company’s overall operation is stable, and Beijing’s regional commercial leader + national hemp business distribution leader’s advantages have become more stable.

Maintain the company’s overall net profit forecast for 2019-2020 at 14.


41 trillion, with an expected net profit of 17 in 2021.

00 ppm, due to the company’s repurchase replacement in 2018 to reduce its share capital, regardless of the 2019 repurchase replacement equity, the 2019-2020 EPS will be adjusted to 1.


02 yuan (was 1).


01 yuan), EPS is expected to be 2 in 2021.

22 yuan, maintaining the company’s target price of 30 yuan, maintaining the company’s holdings grade.

The overall performance was in line with expectations.

Realized operating income of 387 in 2018.

4 ‰, an increase of 6 in ten years.

8%, net profit attributable to mother 14.

0 ppm, an increase of 23 in ten years.

0%, net profit of non-return to mother is 12.

60,00杭州夜网0 yuan, an increase of 24 in ten years.


Due to the company’s major asset reorganization completed in 2017, the net profits of the four target companies from January to May belonged to non-recurring gains and losses, and from June to December belonged to the company’s recurring profits and losses. Considering comparable calibers, the company’s main business net profit growth rate is expected to be 15?out.

The core business was stable overall.

Anesthetics: Continue to maintain an 80% market share of the national anesthetic and specialty medicine distribution market, and the company’s core anesthetic shares company Yichang Renfu’s revenue growth rate22.

7%, profit growth rate of 28.


Distribution: The overall sales growth of second- and third-tier hospitals increased in 2018.

1%, the overall primary medical market 苏州夜网论坛 sales revenue increased by 23.

5%, sales of equipment and consumables increased by 21 year-on-year.

4%, overall stable.

Affected by industry policies and variety structure, Guokong Beijing and Guokong Tianxing have not completed the gambling net profit target.

Actively develop new business.

In the future, the company will continue to make efforts in a number of existing basic subdivisions, such as Guorui Pharmaceutical Industry, Prospective Dental, Devices and Consumables. At the same time, the company will also actively explore in the field of specialized retail pharmacy to cultivate the company.New profit growth points.

Risk warning: Tender price cuts exceed expectations


­  中新社洛杉矶7月30日电 (记者 张朔)“精彩奥运、唱响和平”奥运主题活动当地时间7月30日晚在美国洛杉矶举行。­  洛杉矶曾两度主办夏季奥林匹克运动会,分别是1932年的第10届和1984年的第23届。33年前的7月28日,第23届奥运会在洛杉矶纪念体育场开幕。33年后,洛杉矶华人在这里举办奥运主题活动,一是庆祝1984年洛杉矶奥运会成功举办33周年,二是支持洛杉矶第三次举办奥运会,三是预祝北京2022年冬奥会圆满成功。­  本次活动由美国加州华人体育家协会和巾帼会等主办。主办方称,该活动得到了洛杉矶市长办公室、洛杉矶郡政府、洛杉矶奥申委、洛杉矶体育运动委员会等机构的支持。­  美国加州华人体育家协会会长高胜对中新社记者说,洛杉矶有悠久的奥运历史,洛杉矶奥运会同中国体育也很有缘份。洛杉矶有机会第三次举办奥运会,当地华人愿在杭州夜网论坛志愿服务等方面发挥积极作用。该协会成员以前都是体育人,不少会员家庭已经参加洛杉矶申奥志愿者团队。­  巾帼会会长张素久也表示,当地华人要为支持洛杉矶第三次举办奥运会发出自己的声音。我们将组织华人及其子女担任义工,为洛杉矶奥运会服务,为中国体育代表团服务。­  国际奥委会近日决定2024年和2028年夏季奥运会承办城市同时产生。洛杉矶有望于2028年第三次举办奥运会。 责任编辑杭州桑拿:纪玮维

High Energy Environment (603588) 2018 Annual Report and 2019 First Quarterly Report Review: Performance Orders Synchronize High Growth and Future Growth Is Worth Looking Forward

High Energy Environment (603588) 2018 Annual Report and 2019 First Quarterly Report Review: Performance Orders Synchronize High Growth and Future Growth Is Worth Looking Forward
Matters: The company released its 2018 annual report and achieved revenue of 37 in 2018.62 ppm, an increase of 63 in ten years.20%; net profit attributable to mother 3.250,000 yuan, an increase of 69 in ten years.12%.  At the same time, the first quarter of 2019 report was released, and the first quarter of 2019 achieved revenue6.840,000 yuan, an increase of 36 in ten years.83%, net profit attributable to mother 0.55 ppm, an increase of 76 in ten years.71%.  Comment: The annual report’s performance increased rapidly, in line with market expectations.The company achieved revenue of 37 in 2018.62 ppm, an increase of 63 in ten years.20%; net profit attributable to mother 3.250,000 yuan, an increase of 69 in ten years.12%, in line with market expectations.The increase in performance came from the simultaneous high growth of three major business segments: 1) Revenue from the environmental restoration segment.950,000 yuan, an increase of 68 in ten years.55%; 2) Revenue from hazardous waste treatment and disposal segment11.62 ppm, an increase of 89 in ten years.12%; 3) Income from domestic waste treatment segment 9.48 ppm, an increase of 154 in ten years.53%.The gross profit margin has decreased year by year.3pct, primarily for engineering and operating business gross margin expansion slightly reduced.The proportion of the three expenses has basically remained stable.In addition, the company’s operating cash flow has improved significantly, growing by 217 per year.15%, mainly because the transformation company has strengthened the management of accounts receivable for engineering projects, and the proportion of operating service income of restructured companies has increased year by year. The quarterly report continued to increase rapidly, exceeding market expectations.The company achieved revenue in the first quarter of 20196.840,000 yuan, an increase of 36 in ten years.83%, net profit attributable to mother 0.55 ppm, an increase of 76 in ten years.71%, exceeding market expectations.The primary significance of performance growth is that the increase in the confirmed income of projects started is greater, and the reasons for the mismatch between net profit and income come from: 1) the decline in the expense ratio during the period; 2) the repayment turn for the better, and the bad debt reserve; 3) the exchange lossBenefits increase.The gross profit margin has been decreasing year by year.41pct, initially a relatively high-yield conversion rate for quarterly projects.The company’s operating cash in the first quarter increased by 142 per year.41%, mainly because the repayments have improved significantly. The high order increase guarantees future performance.The company’s new orders in 2018 were US $ 7.8 billion, an annual increase of 136%, including: 1) domestic waste disposal orders of 3.8 billion, an increase of 268% over the same period; 2) environmental restoration orders of US $ 2.1 billion, an increase of 99%; 3) hazardous waste disposal orders1.4 billion, an annual increase of 100%.Orders from the three major sectors increased rapidly in parallel, providing sufficient guarantee for future performance. We expect the company’s 2019 performance to fully benefit from the advancement and conversion of orders, and the large solid waste strategy has steadily advanced. The recent explosion has formed an important catalyst.In the past half month, a number of chemical accidents in Jiangsu Province led to the introduction of the “Plan for the Improvement of Chemical Enterprises”.We believe that both the hazardous waste and soil remediation industries will form an important catalyst at the same time: 1) The hazardous waste industry is expected to usher in another period of rapid development.Jiangsu’s safety investigation will gradually promote the growth of the demand for the disposal of hazardous waste in the stock, and at the same time, it will have a demonstration effect on neighboring industrial provinces, and the stock market will quickly open; 2) The soil remediation industry will usher in long-term benefits.According to the document, in 2020, 105 chemical companies along the river basin will be closed or relocated, and the process of reducing 6000+ chemical companies to 1,000 in the long run will continue to expand the repair market.The company’s hazardous waste and soil remediation are laid out simultaneously, and it is expected to fully benefit from the high growth of the industry in the future. Earnings forecasts, estimates and investment ratings.Based on the improvement of the industry boom, we slightly raise the company’s net profit forecast for 2019 and 2020 to 4.35 billion, 无锡桑拿网 6.3.0 billion (the original forecast was 4.3.1 billion, 5.9.3 billion), corresponding to 18 times and 13 times of PE. At present, the three major business segments of the company go hand in hand, and the development prospects continue to be optimistic. The benchmark industry valuation is given a target price of 15 in 2019.27 yuan, raised to “strong push” level. Risk Warning: Gross Margin Interest Rate Risk.

Donggang Co. (002117) Subsidiary intends to reform the shareholding system Comments: Subsidiary intends to reform to seek separate listing archives storage business has broad prospects

Donggang Co. (002117) Subsidiary intends to reform the shareholding system Comments: Subsidiary intends to reform to seek separate listing archives storage business has broad prospects

Introduction to this report: The subsidiary Donggang Ruiyun intends to reform the joint-stock system to apply for separate listing and financing, and priority is given to the science and technology board.

It will be the basis for the future development of the company’s archive storage and electronic business, and it will continue to expand its market influence and have bright business development prospects.

Investment Highlights: Raise target price to 25.

72 yuan, maintain overweight rating.

Considering the steady growth of the company’s printing business, the prospects of overlay and technical service businesses are broad.
EPS is 0 in 2021.



20 yuan, give 30 times PE in 2019, raise the target price to 25.

72 yuan to maintain the overweight level.

An announcement on the shareholding system reform of the holding subsidiary was issued. Donggang Ruiyun intends 杭州夜网论坛 to apply for the listing of the science and technology board separately.

Donggang Ruiyun, the company’s controlling subsidiary, intends to reform the joint-stock system and establish a joint-stock company as a whole. The purpose is to make full use of the new national capital market policy to apply for separate listing and financing of domestic A shares when the separate listing conditions are met, giving priority to the science and technology board.To broaden financing channels as the basis for future development of archive projects, further improve the governance structure and expand market influence.

Donggang Ruiyun is committed to archive storage and electronic business, and develops an archive management cloud platform project for small, medium and micro enterprises.

Donggang Ruiyun is a wholly-owned subsidiary 杭州夜网论坛 of the company dedicated to archive storage and electronic business. It has established 24 archive storage bases in 18 cities across the country and serves customers such as banks, insurance, government units and other large customers.

Donggang Ruiyun has developed an archive management cloud platform project for small, medium and micro enterprises. Based on the Internet, the Internet of Things and cloud storage technologies, it provides small, medium and micro enterprises with archival construction guidance, sorting, storage, digitization and application services.Customer groups have improved market capacity and service efficiency, and promoted the rapid development of the company’s archive storage and electronic business.

Deeply cultivate financial and taxation financial customers, and the prospects for new business development are broad.

The company continues to cultivate financial and taxation financial customers, and new business such as blockchain + electronic bills are progressing in an orderly manner; the scale advantage of the file storage business appears, and the improvement of profit has ushered in an inflection point; the new channel lottery business helps to benefit from the acceleration of self-service lottery terminal launch.

The printing business will benefit from the decline in raw material prices, and the increase in elasticity will appear in 2019.

Risk reminder: the acceleration of the economic downturn leads to changes in the growth rate of traditional businesses, and the price of raw materials changes significantly

How to discover your five secrets from your hand

How to discover your five secrets from your hand

Both hands are a limb tool that we cannot work without, and everyone has different ways of using their hands, and these differences often reflect some of the secrets in everyone ‘s heart. Let ‘s take a look with the editor now.See what’s in your heart.

  1. People who are accustomed to doing things with their right hands are mostly people with a more developed left hemisphere. In their personality, they are more rational than emotional, and they are organized and logical.

Their advantage lies in dealing with mathematical problems, but they are relatively inferior in aesthetics and literature.

  2. People who are accustomed to doing things with their left hand Most people with this habit have a more developed right half brain. In their personality, the emotional component is often more than rational.

They have very rich imagination and strong creativity. They feel more accurate and sensitive. Such people cannot often have the same rhythm as society. Therefore, people with neurological breakdown are accustomed to doing things with their left hand.The proportion is often high.

  3, people with slender fingers Most of these people are quite sensitive. They often make unreasonable imaginations and suspicions about some things, and then find their own troubles.

Their feelings are very rich, but their personalities are very fragile. Often, an unintentional action or speech of others will also cause them great harm.

  4, short finger type and thick people, most people are positive, have a deep sense of responsibility.

Whenever they intend to do anything, they will devote themselves to it and finish it from beginning to end.

Their personality is relatively strong and stubborn, and they will choose some occupations with high judgment and sensitivity.

  5. People who always clenched their fists may be insecure. Most of these people have a strong sense of defense.

Their credo of human beings is likely to be “people do not offend me, I do not offend; if anyone offends me, I will offend”.

In addition to the lack of security, people who often hold their fists are caring and caring people who are caring and considerate of others.

The impulse to bite nails is definitely a manifestation of tension and fear.

How to treat gifted children?

How to treat gifted children?

How parents treat gifted children1, let the children’s interest flow naturally, and impose their will on the children.

  2. Cultivate your child’s self-confidence in health: praise him for his outstanding places, and don’t forget to remind him that others also have specialties in other aspects.

  3, through systematic intensive training, cultivate children’s tenacious character.

Don’t be afraid to ask your child what he thinks about things when dealing with his personality.

  4. Cultivate a frank, friendly and relaxed atmosphere.

  5. Make parents who have experience in cultivating gifted children, and exchange tips for cultivating children.

  How teachers treat gifted students1, do not impose hard rules on them, and respond fully to their personality.

  2. Set up a smaller collective for them so that they can give full play to their talents.

  3. Develop a skipping plan for them. You can complete the prescribed course in advance. 4. Gifted children, especially when they have more knowledge than adults in certain areas, show understanding and respect.

  5. Don’t belittle their low energy in some aspects, don’t compare children indiscriminately, representing everyone in a group is equal, but everyone is different, train themA sense of mutual respect.
  6. Don’t let the child leave the group 7. When the teacher encounters a difficult problem, he should consult an experienced psychologist.

Wrong ten healthy habits

Wrong ten healthy habits

The common sense in the world that is easy to be mistaken is more than you know.

Many of our health habits are wrong.

Mistake 1: The only advantage of raising the chin when nosebleeds is that the nosebleeds will not flow to the floor, but will not stop the nosebleeds, but will cause nosebleeds to flow into the nose and throat, and may even cause vomiting and suffocation.

The correct way is to put a small cotton ball in the nostrils of the nosebleed, gently press the nose, lean the head forward, or put an ice towel or a wet towel around your neck to stop the bleeding.

Mistake 2: Scratching the arm hair can reduce the sweating and shaving the arm hair. It has no effect on preventing the sweat from being generated. Instead, after shaving the arm hair, the arm socket leaves sweat on the clothes because the discharged water cannot be hidden.

Moreover, scraping hair is also prone to hair root abscess.

The correct way to do this is to clean the sweaty arm pockets before the sweat breaks down.

Mistake 3: Sweat is a stinky sweat that has no taste.

However, sweat contains a lot of organic substances, which are nutrients for bacteria, but when bacteria break down sweat, they will produce unpleasant excretions.

Mistake 4: Brush your teeth immediately after meals and brush your teeth immediately to reduce the acid attack on the enamel in the food. This will only strengthen the acid damage to the teeth.

The correct way is to gargle and brush your teeth after half an hour.

Mistake 5: The latest research on the effects of drugs on men and women shows that drugs are definitely different for men and women.

For example, aspirin can help men with myocardial infarction, but it is not effective for women.

For drugs such as anesthetic agents that degrade fats, women use more doses than men.

Mistake 6: Every day, combing the hair 100 times and combing the hair excessively will stimulate the sebaceous glands on the scalp, especially those with oily hair, and it is better to comb the hair.

If it is a long hair with dry hair, it is more suitable for multiple hair combs.

However, it is best to use a comb made of natural bristles, which is less likely to hurt the scalp.

Mistake 7: Walking is more physical than standing. Because when you extend, your legs are always bearing the weight of your body, and you can’t relax your feet.

While walking, one leg is under weight and the other is relaxing.

Mistake 8: People with sweet blood are easily scented by mosquitoes and mosquitoes.

But mosquitoes are particularly sensitive to heat, even 0.

The difference of 05 months can be distinguished.

Therefore, when we exhale carbon dioxide and water vapor, we will recruit mosquitoes.

Mistake #9: The toilet is very unsanitary. The toilet that is often washed with water is much cleaner than someone else’s stereotype.

Family bacteria research experts have found that most of the bacteria in the house are hidden in the drain pipe on the inside of the refrigerator, and the amount of bacteria on the rag is more than the toilet.

Mistake 10: The size of a big brain in a smart person’s head is not the key to determining whether or not you are smart. The brain structure is the most important.

The function of the human brain is determined by the neural network, and the person with low IQ is because some functions in this aspect have died, but have nothing to do with the size of the brain.

Thin buttocks aerobics, simple to do simple thin

Thin buttocks aerobics, simple to do simple thin

1. Squat on one leg: The left leg is upright and the right leg is straight: Both arms are raised sideways, the left leg is bent and tries to squat, and then stand straight.

This action completes the indicator at least 8 times per group (the following actions complete the breakdown).

  Second, knees on the knees: the forearms are supported on the ground and crossed.

Place your forehead flat on your hand, keeping your side parallel to the ground.

Raise one foot and lift up hard until the knees and hips are in a straight line and the thighs are parallel to the ground; then replace the leg.

Change legs and do it again.

  3. Squat: Separate legs, slightly wider than shoulders.

With both feet abducted, squat down with the baseline crossing until the thighs are parallel to the ground.

Tip and hips as far as possible when squatting.

  Fourth, step forward: step forward with one leg.

Bend your knees, your thighs parallel to the ground, and your calves straight.

Hind leg bending angle is greater than 90 degrees.

Reset the forelegs, and try to close the hips at the beginning.

Change legs.

  5. Squat: With your legs apart and shoulder width, place the barbell at the back of your neck (you should choose a barbell that is more comfortable when you lift it and can repeat 6 to 8 times in weight). Push your chest out and bend your knees to your thighParallel to the ground.
  Six, ascending steps: facing the steps of 10-20 meters high.

Climb the steps with your right leg.

Keep your left heel up, keep your legs steady, then back down your right foot and your left heel.

Change legs.
  Seven, supine hips: lying on his back, feet and shoulders supported on the ground.

Raise your hips and bend your knees so that your calves are straight to the ground.

Stretch both sides of both hips flat.

Close your hips and raise your hips so that your knees and shoulders slope.

  Eight / Nine, Half Squat / Fore Squat: Separate your feet with shoulder width, put the barbell behind your neck forward, straight forward, bend your knees and squat so that your thighs and calves are at 90 degrees.

  Ten, kicking: Adjust the equipment to bend the legs to 90 degrees.

Press your foot firmly on the pedals and slowly return to starting motion.