Looking at Principal Zhang who is confident in himself,Fang Yourong, who was ignited with pride, also got excited,“Thanks for this opportunity,I am willing to try!”

Looking at Principal Zhang and Xiaofang with their hands clasped together,Everyone else pouted,Xiao Fang, who resolutely defends the blue-collar class, is indeed a simple child,Really easy to be incited。
————
Outside——The third meeting of non-governmental organizations across industries chapter Ten
Everyone’s kind laughs did not stimulate the fighting spirit Xiao Fang,Even if he has a thick skin,This to him,Isn’t this an opportunity。
Seizing the opportunity is the ability that young people who are going to the city should have。
The excitement here has nothing to do with the excitement of the trainees visiting the shipyard,After the trainees have lunch,The visit has begun under the assembly of the middle-level cadres of the shipyard。The afternoon’s itinerary is where the two teams exchanged knowledge about the morning,As for the children who have been to some factories, there is no need to visit the staff’s living area.,The children’s itinerary is very meaningful,They will board the crane lift which is undergoing serious security check,Go to the top of the shipyard and overlook the entire factory area。The children around the adults can’t wait,Looking forward to the end of the security check soon。
Sit down while talking and laughing,They all deliberately ignored the large chicken drumsticks piled on Sheng San’s brother’s lunch box,Everyone, let’s eat,Don’t eat anymore,The food is cold。
Sheng Zegang was so silent that he watched the chicken drumsticks piled up in the lunch box did not move,I squinted my lips and I was trying to say the ridiculous Lu Feng talk before I could say it,The sudden silence made him strange,what happened?What happened?
Following Sheng San’s wink,Lu Feng stood up and looked at the cause that affected everyone’s mood。
Isn’t his father’s group coming from the restaurant to this side??What do these elders want to do here??Lu Feng gets irritated,Father is strict,But shouldn’t it stop interfering with his independent communication?,He will be laughed at by his peers。
Principal Zhang, who respects his elders, stood up first。Follow Principal Zhang,Except that Fang Yourong shrinks down,Everyone else stood up and waited,Do these elders have any instructions??
Fang Yourong who hides behind can’t help it,Not seen by elders,That hurts self-esteem。
Feel like being inspected by the chief,Waiting for the oncoming elders,Fortunately,The elders behaved very kindly,The kind look stimulated the dissatisfied Lu Feng’s facial muscles twitching。Sheng San looked silently,Lu Feng’s father is not good,How could you praise them like this??
Look at these young people who are mostly in their thirties,The elders show an attitude of appreciation: “I heard you arranged to eat in the cafeteria,Let’s take a look。”An elder beside him smiled:“Not welcome?”
Lunch time passed,These elders who are temporarily adjourned for lunch, when they go downstairs, ask the children about the nutritious lunch.,What I heard was that the children were the same as all the participants from Lufeng and the people who came to the industrial tour this time.,All dining in the cafeteria,among them,Lu Feng also specially ordered,No special extra meals,Just like shipyard employees。After listening to Lu Feng’s arrangement,Surprised,I’m very happy as an elder。The new generation’s communication style is different from the older generation’s practice of socializing and socializing at the wine table.,Now in the new century,This is worth promoting on a small scale。
Under the leadership of my big brother,The children who have wiped their little hands and mouths rushed to say hello to their uncle and grandpa who cared for them。

Xiaohu looked at his mother,I walked into my parents’ bedroom sensibly,Closed the door。

Jiang Fan asked Lu Yuan:“What does the province say about this??”
Lu Yuan said:“Did not hear any special comments,you know,People in our department speak very carefully,in contrast,People in other departments are more wicked。”
“Oh?”Jiang Fan seems very interested。
Lu Yuan said:“Some say that She Wenxiu has a relationship with female singers and female developers.,Mother and daughter take all,Some people say he took advantage of that female developer,To make her shut up,Dismissed the female developer,In short,Say everything。”
Jiang Fan nodded,Say:“It’s really evil,The latter is impossible。”
Lu Yuan said:“The burden on your shoulders is heavy,Just in time for the Spring Festival,Before the problem is investigated,The province will not arrange for a new secretary to come soon,You will be very busy during this time,Domestic and foreign difficulties。”
Jiang Fan said:“Yes,After I received a call from the Provincial Party Committee in Hong Kong,I haven’t finished the meeting,Just hurried back,seriously,I have been blinded these days,All the mess all at once,Struggling to cope。”
Lu Yuan said:“This is also normal。”
Jiang Fan heard what Lu Yuan said,Just asked:“Do you have a lot of problems with Lang Zhu recently??”
Lu Yuan thought for a while and said:“In fact, it has never been interrupted,Especially about She Wenxiu,Many veteran cadres reflected many of his problems,I just didn’t tell you,In addition,There are many reflections of Yin Jiashi。”
“Ok。”Jiang Fan nodded,Said:“It reflects my affirmation too?”
Lu Yuan smiled,Say:“Yes yes yes,But it’s all false,Mainly in the early stage of demolishing illegal buildings,Reflect that you dare to tear down the poor and not the rich,But as this work progresses,You also demolished the illegal construction in the rich district,This argument is self-defeating。”
Jiang Fan said:“I expected,Someone even reported to Secretary Liao,It is said that Secretary Liao said this to Governor Yuan after he knew it,Unexpectedly, the scholar Jiang Fan,There are two more,Dare to fight hard!”

“it is good。”Jiang Fan let go of her,Right leg bent,Then slid a step back,Immediately distanced himself from Ding Yi。

He is already satisfied,So dare to kiss her in public,It shows great progress,He wants to give her time,Let her adapt to herself,Adapt to the external environment。
Ding Yi saw that he was so cool,Relaxed and skilled,I want to follow him too,But without him,She was a little trembling,Dare not move。
Jiang Fan smiled,One turn,Slid to her side,Hold her hand,Say:“follow me,Parallel feet,Follow me,Imagine the feeling of sliding。”
Ding Yi said:“Yes。But I still dare not leave you。”
“Don’t worry,We just slipped for a while,You will feel it slowly。”
Ding Yi slid straight with him、Go round。
Jiang Fan said:“it is good,well,Carefully experience the feeling of sliding and the balance of the body in the sliding state,Relax,Correct,That’s it。Try to slide forward with your feet,Correct,That’s it……”
slowly,Ding Yi’s body can actively cooperate with his movements。Even prepare for the turn in advance。Jiang Fan speeds up the taxi,Ding Yi felt the whistling wind in his ear,She said:“slower,slower,too fast……”Talking,Bring your feet together subconsciously。
“Keep your feet balanced。”Jiang Fan corrected her posture in time。
gradually,Her body has gradually adapted to the sliding state,Learned to control one’s own balance while sliding。 Jiang Fan stopped slowly,Said:“right now,You have to start practicing sliding by yourself。Look at me,Stand with two feet,Push the ground side and back with the inner blade of your right foot,Move the body weight to the left foot,After kicking the ground, the right foot quickly retracts to be parallel to the left foot and slides forward with both feet。Push the ground alternately with both feet and slide forward continuously。Arms extended sideways and forward,In order to maintain body balance……Come,try it。”
He slides to the right of Ding Yi,Holding his hand,Slowly lead her forward。
Ding Yi held his hand tightly,Relying on the strength of his hands,Kick back carefully,Changed another one,Getting bigger and bigger,The speed has gradually increased,She laughed loudly,Said:“Haha,I will slip,I will slip……”
Jiang Fan said loudly:“Pay attention to body balance,slower,Slow down。”
Just sliding straight like this,Ding Yi did master the basics,There are many beginners like her,Often fall,Ding Yi looked at those who fell on all sides,Lol。
Jiang Fan saw that she was completely free to skate,Quietly let go of her hand,She was in a hurry,Said:“Don’t let go……”The voice hasn’t landed yet,Ding Yi fell,Rely on inertia,Actually fell four or five meters away。
Jiang Fan not only didn’t help her right away,instead“Haha”laughing out loud,While laughing,Point to Ding Yi and say:“I didn’t expect that I just finished laughing,I fell down by myself,Haha,Do you know what this is called?”

They are also returning at this time。

Many people started searching for their targets in the crowd。
They found it soon。
Someone couldn’t help booing when they saw that face。
The first person to do this,There is a second person、Third person……And more people。
Hiss soon sounded on the departure floor of the terminal,This sudden momentum attracted more people’s attention than their cheers just now,Many people looked at them with amazement,Don’t understand what happened。
※※※
Hu Lai was talking with Zhao Kangming, the youth training supervisor of the Poseidon Club,Suddenly heard a boo。
Both people who were interrupted in the topic raised their heads in astonishment,Look in the direction of the boo。
Just took a look,Hu Lai laughed——Is a fan of Chen Xingyi!
These people didn’t boo enough of themselves in the stands……
Zhao Kangming saw this scene and immediately figured out what happened,So I laughed too:“Your kid’s ability to pull hatred has the meaning of catching up with me。I think after I was sent off in the top forty game,I can hear boos and curses after being recognized on the street for a whole year……”
Hu Lai looked up:“the student surpasses the master!”
Zhao Kangming glared his eyes:“What’s so proud of?”
Then I didn’t hold it back,Haha laughed。
Li Ziqiang in the team heard Zhao Kangming’s laugh,Can’t help but cast a look at them。
Although the acquaintance is very short,But obviously, Hu Lai and Zhao Kangming, two people who are far apart in age, get along happily.,It’s just like seeing before。
Some people say that professional players choose the team,It’s better to choose a coach。in a sense,Li Ziqiang agrees with this view。

Jiang Fan and Ding Yi walked to the door,To send Fan Bin,Fan Bin stopped them,After beckoning with them,Disappeared into the night。

Jiang Fan looked at Fan Bin,I saw him walking quickly to the parking lot。Jiang Fan returned to his seat,Said with emotion:“Really good boy,sensible、Self-reliance、Responsible,And looks good,Chic,Capable。”
Fan Wenliang said with a smile:“It’s true,I said this after he left,This kid hardly made us worry,It’s the same in school,When I called or visited him at school,He promised it was this sentence,dad,You don’t have to think about me,Take care of your brothers and sisters,I am older。Now he is abroad,If i call,He still says this,dad,You don’t have to worry about me here,Take care of your brothers and sisters。But this year one more sentence,Take care of yourself and mom。”
Jiang Fan said:“How did you educate?We also learn from you in advance。”
Fan Wenliang laughed,Said:“seriously,How can I take care of the children?,I can’t see a few sides in a month,It’s all due to Dr. Mei。”
Ding Yiwen:“What kind of attitude would you have if you saw children and them,Train them??”
Fan Wenliang said:“If it’s Xiaobin,I never train,He grows up,I haven’t spoken to him loudly,He’s afraid of me if I don’t speak loudly,If i’m training him,I won’t see two sides in a month,Think about it,What kind of image will my father look like in the children’s mind?But those kids are really training,Doctor May always talks about me for this,Said I don’t train my children,But to teach other people’s children。I said my child knows how to do it without training,These kids are now my,I must take on the responsibility of education,You must teach them if you do something wrong,If they can’t be human,I am sorry for my dead comrades,Sorry their father。I remember when my second child was in high school,Hooked on playing games,Always sneaking to the Internet cafe,He didn’t spend a cent for his pocket money,I saved money to buy game coins,It was the eve of the midterm exam,Suddenly can’t find him,No school,Not at home,Didn’t come back in the middle of the night,I was still working in Deshan at that time,Dr. May was so anxious to call me,Crying that the child can’t find it,If something happens to the child,She is no longer alive……Later I don’t worry,Came back from Deshan overnight,After the alarm,The police found him from the Internet cafe,After going home,In front of all children,I gave him a tough meal,The next day he wants to carry his schoolbag to school,no way!I also gave it up,Asked the provincial party committee for three days off,Take the second child and return to the south,Let him kneel before his father’s tomb and reflect,When did I figure it out and when did I get up,Can’t figure it out,The south was already very hot that season,Hot day,I let him kneel for a long time,Those old comrades in my army can’t see it anymore,I tried to call him back several times,I patted the table with them,I said,Who cares about this today,Who is this child,Whoever takes it home!otherwise,Nosy!Hey——”
Fan Wenliang sighed,No more,Certainly their husband and wife have paid unspeakable hardships over the years,Financial contributions are secondary,The key is the hardship of educating them as adults,It’s unimaginable if it’s not personal experience,And not a child,Conceivable。
One“Hey”,Tells how hard it is、How much forbearance!
This is the first time Fan Wenliang talked about his family situation,It seems,He is indeed happy to see his son’s achievements today,Just started making things with Jiang Fan,Never before,At most, it’s Doctor Timothy。
Fan Wenliang takes the cup,Said:“In a word,not easy,Really not easy!”
Jiang Fan stood up,He said:“You are not only my role model as an official,Still a role model for my life,We respect you,Express our reverence!”
Fan Wenliang laughed,Said:“Serious,If things happened to you at that time,You will do better than us。”
After Jiang Fan sits down,Said:“From Fan Bin,I saw your good tutor,This good tradition,Will be passed down from generation to generation。”
.
————
First92chapter Fan Wenliang’s Feelings

[Does milk contain zinc]_milk_zinc content_is there

[Does milk contain zinc]_milk_zinc content_is there

Milk contains a lot of nutrients, not only zinc, but also calcium, protein and some proteins needed for growth and development, so parents can give them something to drink during their child’s development.Milk, but do n’t drink too much at one meal, pay attention to the right amount, especially for obese people, it is best to choose pure milk, which contains cholesterol which may cause some.

The nutrients per 100 grams of milk are as follows: Transformation (54.

00 kcal), protein (3.

00 grams), aunt (3.

20 grams), carbohydrates (3.

40 grams), vitamin A (24.

00 μg), thiamine (0.

03 mg), riboflavin (0.

14 mg), niacin (0.

10 mg), Vitamin C (1.

00 mg), Vitamin E (0.

21 mg), calcium (104.

00 mg), phosphorus (73.

00 mg), sodium (37.

20 mg), magnesium (11.

00 mg), iron (0.

30 mg), zinc (0.

42 mg), selenium (1.

94 μg), copper (0.

02 mg), manganese (0.

03 mg), potassium (109.

00 mg), cholesterol (15.

00 mg).

The nutritional content of milk is very high, and the mineral types in milk are also very rich. In addition to the calcium we cause, the content of phosphorus, iron, zinc, copper, manganese, and molybdenum is many.

The most rare thing is that milk is the best source of human calcium, and the ratio of calcium and phosphorus is very suitable, which is beneficial to the absorption of calcium.

There are at least 100 kinds of complex species. The main ingredients are water, trace amounts, phospholipids, proteins, lactose, and inorganic salts.

The main chemical components of milk are as follows: moisture: 87.

5% aunt: 3.

5–4.

2% protein: 2.

8–3.

4% lactose: 4.

6-4.

8% inorganic salt: 0.

There are 20 kinds of amino acids that make up about 7% of human proteins, and 9 of them are not synthesized by the human body. These amino acids are called essential amino acids.

If the protein we eat contains all the essential amino acids, this protein is called whole protein.

The protein in milk is whole protein.

Inorganic salts in milk are also called minerals.Milk contains Ca2 +, Mg2 +, K +, Fe3 + plasmas and impurities such as PO43-, SO42-, Cl-; and trace elements I, Cu, Zn, Mn and so on.

Calcium in nature exists in a compound state. Only passively, plants absorb it to form biologically active calcium, which can be better absorbed and absorbed by the human body.

Milk is rich in active calcium, which is one of the best calcium sources for human beings.1 Fresh fresh milk contains about 1250 mg of active calcium, which is the first in most foods, about 101 times that of rice, 75 times that of lean beef, and that of lean pork110 times, it is not only high in content, but also the lactose in milk can promote the absorption of calcium by the body wall, the absorption rate is as high as 98%, thereby regulating the calcium metabolism in the body, maintaining serum calcium concentration, and promoting bone calcification.

Good absorption is especially critical for calcium supplementation.

Therefore, the saying “milk can supplement calcium” has its scientific reason.

[How to make ginger and spinach with spinach]_ Common practice of spinach with ginger and garlic _ How to make spinach with ginger and garlic _ How to make spinach with ginger and garlic

[How to make ginger and spinach with spinach]_ Common practice of spinach with ginger and garlic _ How to make spinach with ginger and garlic _ How to make spinach with ginger and garlic

Study hard every day.

The biggest fun for you is nothing more than playing.

eat.

There are many places to play and many places to eat, but there are few good places.

With blind search, it is better to do it yourself.

Below, I will introduce to you the methods of ginger, garlic and spinach.

1.

Wash the spinach and remove the yellow leaves 2.

Add water to 12 pots and drip in vegetable oil 3.

21 fires boil 4.

1 blanch until the spinach is soft, remove the spinach 5.

2 Add spinach 6.

12 焯 hot spinach over cold water7.

21 Squeeze excess spinach water 8.

Root the spinach and cut into segments 9.

Place the chopped spinach in a plate 10.

Pour oil in a wok and heat up 11.

Add minced garlic and stir fry over low heat.

Add ground ginger and stir fry over low heat.

Add chopped peppers and stir-fry with low heat.

Pour up and down, and boil over medium heat for 15 minutes.

Boil until the soup thickens 16.
.

The cooked ginger and garlic juice drizzled on the spinach and I like to eat in the restaurant right away. This is a bad habit. For nutrition and health, I suggest that you still learn to cook. Go to the kitchen and try the ginger and garlic juicespinach.

[How to save radish]_How to store_Save method

[How to save radish]_How to store_Save method

In fact, the preservation method of radishes is also very important, because most families buy a lot of radish when they buy it. At this time, the correct preservation method of radishes is very necessary.

Because many people do not pay attention to the recovery method when storing the radish, after the radish is left for a long time, a hollow state appears in the radish.

The following article will let you learn the correct method of preservation of radish.

How long can white radish be kept? White radish is okay for a week. Generally, it will not rot. If it is over time, it will turn into bran, which means that there will be small holes like buns inside, which is not good.

How to save white radish 1.

The soil pit storage method will remove fresh radish from the top, remove hair roots, and strictly remove radish with insect damage, mechanical injury, cracks and too small.

Dig a 1 meter deep and 1 meter square pit with the turnip roots facing up and top down, leaning against the wall of the pit, tightening in order.

Code a layer of radish, sprinkle a layer of pure soil about 10 cm thick, and alternately place them in four layers.

If the pit soil is too dry, it can be moistened by spraying water appropriately.

After the top layer is well coded, the soil layer should be gradually increased according to climate change. It should be covered with less soil in warm weather, and more covered in strong cold.

Good-quality radishes are infinitely hot before entering the pit, and infinitely frozen after entering the pit, and can be stored until early March of the following year.

2.

In the mud storage method, the radishes are shaved and put into the yellow mud to make a circle, so that the radishes have a layer of mud shells and can be stacked in a cool place.

If you add a layer of wet soil outside the radish pile, the effect is better.

3.

For storage outside the water tank, put a water tank indoors, fill it with water, pile the radishes around the tank, and pour 15 cm thick wet soil on it.

4.

Most supermarkets store refrigerated white radishes with leaves removed. If you have bought whole radishes, we recommend that you cut them off first to avoid the leaves from evaporating moisture and dehydrating and shrinking the radish.

Refrigerate the whole branch: After processing the leaves, take a white newspaper and wrap the whole radish and store it in the vegetable and fruit refrigerator, which can maintain the freshness of the radish for about a week.

If possible, put another layer of paper or plastic bag on the outside, it will be better to store it upright.

If you eat incomplete root radish at a meal, you want to prepare the food in divided portions, because the top part of the radish is the easiest to dry and become soft. It must be completely and tightly overlapped with a plastic wrap. The outer layer is sealed with a fresh-keeping bag to help prevent drying.Refrigerator.

If the radishes are cleaned, they must be dried and packed in newspapers.

The top should be completely fused with plastic wrap, otherwise it will dry out.

5,

Cryopreservation and dicing: Japanese mothers love to use “freezing” to preserve ingredients, and radishes belonging to the rhizomes will not have poor taste and color distortion.

Peel the radish first, cut into pieces, and put it in a fresh-keeping bag to keep it frozen; take it out while cooking and cook directly without having to return to ice.

The radish pieces to be frozen can be lightly steamed to remove the jerky taste, drained and then frozen.

Frozen ground mud: After peeling the radish, grind it into mud, and use small bags, small fresh-keeping boxes or cake molds for packaging, and then completely replace it with plastic wrap. Freezing can be stored for about one month, and it is very convenient to use a small amount.

Cook and freeze: If you want to save cooking time, you can also cook it and freeze it, especially braised stew and soup radish suitable for preservation.

Put the radish and soup together in a microwaveable fresh-keeping box, microwave it before heating, save time and convenience, and taste as good as freshly cooked.

6.

Dried white radish is commonly known as “preserved vegetables” after drying. However, you can actually eat it without adding salt, which is sweeter and more delicious.

It is recommended to dry the radish in winter. After shredding the white radish, place it on a bamboo basket in the open and expose it. Move it into the room at night for about 4?
It can be filled in a sealed container for refrigerated storage within 5 days, and can be stored for about 6 months to avoid contact with moisture.

7.

Preserved pickled radish is a very common side dish, only 1?
The pickling can be completed in a short time of 3 days. It is very convenient to store cold pickled side dishes in the refrigerator at any time. It is crunchy and juicy and delicious.

.

Pickled white radish: pickled for 2 days at room temperature, refrigerated for 15?20 days.

.
Spicy white radish: refrigerate for 3 days and refrigerate for 1 month.

.

Spicy pickled shredded radish: refrigerate for half a day and keep refrigerated for 1 week.

.

Fried chicken pickled radishes: pickled for 1 day at room temperature, refrigerated for 1?
3 weeks.

.

Miso-cured radish: refrigerate for about 1 hour and refrigerate for 2 days.

.

Bench-top pickled radishes: pickled at room temperature for 2 days, refrigerated for about 1?
3 weeks.

BOE A (000725) Commentary Report: Prospective layout of overweight silicon-based OLED investment AR / VR strengthens competitive advantage

BOE A (000725) Commentary Report: Prospective layout of overweight silicon-based OLED investment AR / VR strengthens competitive advantage

Event: Overweight VR / AR industry, jointly invest in the construction of 12-inch silicon-based OLED micro-display project On December 26, 2019, the company announced that it plans to invest in the construction of 12-inch silicon-based OLED micro-displays with Oreder, Central Yunnan Development and Gaoping Technology.Device production line project: The total investment of the project is expected to be 3.4 billion, of which 20.

The shareholders of 400 million US dollars contributed the remaining 40% for project financing, and the final designed production capacity was 10,000 12-inch wafers per month.

The project is implemented in three phases. The first, second, and third phases are respectively 杭州夜网论坛 lit up in 2021/2022/2023.

It is expected that the project is in its early stages and there are still many uncertainties in the future. We maintain the profit forecast for the time being. It is expected that the company’s EPS for 2019-2021 will be 0.

07/0.

11/0.

18 yuan, corresponding to 73/43/27 times the PE, maintaining the “strongly recommended” level.

  With 5G blessing, the VR / AR industry is expected to usher in an explosive period. The company’s layout in advance ensures competitive advantages and obtains high PPI, small size, and low characteristics. Micro OLED micro display technology is particularly suitable for AR / VR and other devices. / VR era ushers in explosive demand.

About the company’s existing 8-inch silicon-based OLED microdisplay production line. The 12-inch production line can provide space for design specifications such as brightness and variables. At the same time, the cutting efficiency is 2-3 times higher than that of 8-inch. The cost is also advantageous.Advantage.

  With the development of 5G technology, the low-latency and high-rate characteristics of 5G improve to solve the biggest shortcomings of AR / VR’s poor user experience caused by network delay. The AR / VR industry will usher in an explosive period.

According to the prediction data of CCID Consulting’s “VR / AR Market Data 2018”, China’s VR / AR market size will reach 544 in 2021.

5 trillion, with an average annual average of 95.

2%.

  The industry’s down cycle has passed, and the company’s profitability is expected to stabilize and rebound in the LCD business. After nearly two years of price down cycle, the current panel prices have approached the cash costs of panel manufacturers. In addition, some panel manufacturers have adjusted their capacity structure, and the supply and demand situation has gradually improved.

According to the latest price data, the current panel price shows that the LCD panel downlink cycle is recommended to warn once, and the price is expected to stabilize and rise.

In terms of OLED business, the OLED market demand is in short supply, transforming the company ‘s capacity release and improving yield, promoting the rapid replenishment of market demand gaps, and bringing flexibility to the company’s revenue and profits.

In the long run, the LCD panel industry investment peak has passed, and the cycle attribute will become weaker and weaker. At the industry level, BOE will gradually increase its right to speak and become the ultimate winner of the industry.Industry long-term profit dividend.

  Risk warning: Sino-US trade war leads to reduced demand; panel capacity release exceeds expectations

Haitian Flavor (603288) Annual Report Comments: Revenue Exceeds Target Growth, Profitability Hits New High

Haitian Flavor (603288) Annual Report Comments: Revenue Exceeds Target Growth, Profitability Hits New High

Event Haitian Flavor announced the 2018 annual report, and the company achieved operating income of 170 in 2018.

34 trillion, ten years +16.

8%, net profit attributable to mother 43.

65 ppm, +23 for ten years.

60%, of which, 43 revenue in 18Q4.

23 trillion, +15 a year.

63%, net profit attributable to mother 12.

34 trillion, +24 a year.

26%; budget benefit is 1.

62 yuan.

Demand for investment essentials continued to show a positive trend, and revenue maintained steady and high growth.

The company achieved revenue of 170 in 2018.

34 trillion, ten years +16.

80% (Q1: +17.

04%, second quarter: +17.

48%, third quarter: +17.

12%, +15 in the fourth quarter.

(63%), revenue decreased slightly in Q4, mainly due to the company’s target revenue growth target, which was caused by the impulse at the end of the 北京夜网 year.

Soy sauce and oyster sauce are increasing steadily.

In terms of different products, the company’s soy sauce and oyster sauce maintained steady growth, and the growth rate of seasoning sauce was relatively poor, at 15 respectively.

85%, 26.

02% and 2.

55% (the same period last year: 16 respectively.

59%, 21.

65% and above 12.

45%).

Among them, the soy sauce category achieved 102.

With $ 3.6 billion in revenue, sales are increasing by 14 per year.

78%, ton price +0 for ten years.

9%, contributing 60.

09%, the increase in ton price is mainly due to the steady increase in the proportion of umami soy sauce, due to the optimization of the structure. We expect that the price band of RMB 8 / 500ml will account for more than 36%.

Seasoning sauce category achieved 20.

Revenue of 9.2 billion yuan, sales increased by 2 quarterly.

98%, the ton price is -0 in ten years.

4 %%, contributing 12 revenue.

28%.

In order to supplement the growth rate of seasoning sauce, the company has begun to carry out strategic adjustments such as sales promotion (including the use of signature bibimbap sauce in the popular variety show “Qihua said”), and it is expected that this category will have a restorative growth in 19 years.

The oyster sauce category achieved 28.5.6 billion in revenue, with sales increasing by 24 per decade.

65%, ton price ten years +1.

1%, contributing 16.

76%, after 16 years of high inventory in the oyster sauce channel, the company has maintained a stable pace of delivery, and the oyster sauce category has accelerated growth in 18 years.

The increase in advance receipts was considerable: at the end of 18, the company received advance payment 32 from dealers.

37 trillion, +20 for ten years.

83%, dealers are making good payments, and subsequent growth is worry-free.

The regional distribution is even and balanced, and the weak areas have a relatively high increase.

The company is evenly distributed nationwide, 25.

99% / 20.

62% / 20.

51% / 18.

53% / 10.

08%, 18 years of income growth reached 13 respectively.

57% / 13.

61% / 15.

34% / 18.

01% / 21.

At 81%, the company maintained steady high growth in strong areas such as the north, south and east, while sinking in weak increase channels such as central and west, and strong markets with a high base of growth.

The number of existing company terminal outlets has reached more than 500,000, and even the company’s overall layout has been completed and balanced, but it is still focusing on sinking weak regional channels to make up for regional weaknesses.

Risk reminder: Macroeconomic forecast, channels sink less than expected, product upgrade progress gradually expected, food safety issues