I miss you (002582) 2019 Interim Report Review-Baicaowei Speeds Up the Headquarters to Adjust Performance and Reduce Losses

I miss you (002582) 2019 Interim Report Review-Baicaowei Speeds Up the Headquarters to Adjust Performance and Reduce Losses

Core point of view 2019H1 Baicao growth speeds up, I miss you continue to adjust.

Optimistic about the company’s continuous integration of Haobai, the omni-channel layout is gradually being rolled out, and the leading health food brand is gradually built, maintaining the “Buy” rating.

2019H1 revenue / net profit increased by 8.

81% / 22.


2019H1 company realized revenue 28.

5.7 billion, an increase of 8.

81%, net profit attributable to mother 1.

2.7 billion, an increase of 22.

75%, deducting non-net profit 83.41 million, down by 3%.


  Among them Q2 realized income 9.

35 billion, an increase of 11.

99%, net profit attributable to mothers-6.04 million, narrowed continuously beyond 65.

63%, deducting non-net profit-18.79 million, narrowing beyond the continuous narrowing of 5.


Among them, 2019H1 Baicaowei realized income of 24.

0.6 billion, an increase of 15.

11%; net profit attributable to mother 1.

3.5 billion, an increase of 31.

46%; of which revenue was 7 in the second quarter.

7.3 billion, an increase of 19.

39%, net profit attributable to mothers was 8.96 million, an increase of 63.

twenty one%.

Revenue sharing: Baicao’s growth accelerated, and offline channel growth was under pressure.

In terms of categories, 2019H1 Baicao maintained a rapid growth, and nuts, dried fruits, and dried meat seafood products achieved revenue1佛山桑拿网4.

51 billion / 3.

38 billion / 3.

1.4 billion, an increase of 12 respectively.

90% / 10.

15% / 42.


I really think you are still in the adjustment period and your income has increased.

8.9 billion, down 11.


In terms of different channels, the company’s online channels are solid overall. The number of online registered members has exceeded 70 million, which continues to expand from the beginning of the year with 60 million people.

300 million, accounting for 89% of revenue, of which B2C also increased by 18.

81% to 16.46 billion yuan, a 10% increase in warehousing.

03% to 8.

8.1 billion; revenue from offline channels3.

US $ 100 million, of which monopoly / supermarket channels achieved revenue1 respectively.

7.9 billion / 0.

8.8 billion. Imagine that your number of specialty stores has 杭州桑拿网 remained at more than 700; the revenue of Central China by region also fell by 27.

36% to 1.

67 trillion, down 22 in other areas.

14% to 1.

6.3 billion.

  Profit analysis: Baicao flavor promotes the overall profit of the company, I miss you slightly.

By business, Baicaowei’s profitability has been steadily improved, and the net profit margin in the first half of 2019 / the second quarter of 2019 increased by 0.


31PCT to 5.

62% / 1.


I miss your channel adjustment, Q2 exceeds the loss reduction of 38.


Specifically, the company’s gross profit margin increased by 1 in 2019H1.

23PCT to 29.

99%, gross profit margins of nuts / dried fruits / preserved seafood products increased by 1.



11PCT; the gross profit margin of the jujube business fell 4.


In terms of expenses, the company’s sales expense ratio increased by 1.

38PCT to 21.

12%, mainly due to the increase in business promotion expenses, salary expenses and transportation expenses; the management / R & D / financial expense ratios increased by +0 respectively.

18 / + 0.

15 / -0.


In addition, the company received about 52 million government subsidies in the first half of the year, which has increased its performance; the expense ratio has gradually decreased4.

33PCT to 23.

36%, comprehensively leading to the company’s net profit margin increased by 0.

51PCT to 4.


Future outlook: The big single product strategy continues to advance, with online and offline integration and integration of omnichannel advantages.

The 2019 H1 company’s big single product strategy has achieved significant results. The daily nut series achieved nearly 200 million yuan (about 50 million in the same period last year); Qingfeifei earned 40 million yuan (30 million yuan in the same period last year); and it is expected that daily nut revenue will reach 400The company plans to build 8 models of 100 million products and 20 models of 50 million products in 2019.

  In terms of channels, the company continued to advance the online and offline integration progress, the expansion of monopoly channel dealers, and the stable improvement of supermarket channels; meanwhile, Baicaowei opened offline stores and gradually planned to reach 10 stores.

The company aims to achieve revenue / net profit of 56 in 2019.500 million / 1.

600 million, respectively increased by 14.

1% / 23.


Increased risk.

Market expansion was worse than expected; industry competition intensified; food safety risks.

  profit prediction.

Maintain 2019/20/21 EPS forecast of 0.



44 yuan, maintain “Buy” rating.

Songzhi shares (002454): resume the ongoing and wait for the peak season

Songzhi shares (002454): resume the ongoing and wait for the peak season

Event: Company Q3 achieved revenue 7.

200 million, a year-on-year decrease of 17%, net profit attributable to mother 0.

600 million, an increase of 1124% over the same period; cumulative revenue of 2.5 billion in the first three quarters, a continuous decline of 8%, attributed to the mother’s net profit1.

800 million, an increase of 167% over the same period, a gross profit margin of 27%, and a net profit margin of 7%, increasing by 3 and 4 values every other time.

  The adjustment of the air-conditioning structure of passenger cars continued to increase profits.

The company is the leader of domestic large and medium-sized passenger air conditioners, and its product structure has been continuously optimized. In particular, new energy buses have more abundant supporting products, driving the value of bicycles.

Before the subsidy for new energy 上海夜网论坛 buses subsided in August and the supplementary switchover, the amount of air conditioner replacements increased simultaneously, ensuring the company’s high profitability of large and medium-sized air conditioners in the first three quarters.

  The overseas market is worth looking forward to.

The overseas market growth mainly comes from two points: (1) Actively deploying refrigerated truck air conditioners and profitability transfer; (2) Overseas passenger cars are expected to become potential blue ocean markets, including Russia, India, China Interest, Southeast Asia and other places.

  Passenger car air conditioners are advancing steadily, seeking breakthroughs in joint ventures.

The company’s overall support for Changan Autonomous, JAC, SAIC-GM-Wuling and other passenger car customers, the supply system is gradually promoted to 合肥夜网 mid-to-high-end brands, and condensers and channels have been recognized by customers.

  Investment suggestion: We expect the company’s net profit attributable to the mother in 2019 and 2020 to be 2, respectively.

4, 2.

700 million, the corresponding estimates are 13, 11 times, it is recommended to pay active attention.

  Risk warning: subsidies for new energy buses affect profitability; the progress of passenger car air-conditioning matching is less than expected.

Five massage methods enhance sexual partner libido


Five massage methods enhance sexual partner libido

Massage to evoke a couple of sexual desires to massage each other before sex, can make men increase their sexual desire, but also help women to put down their restraint and fully enjoy sexual pleasure.

Tell everyone today how to evoke sexual desire in massage.


hzh {display: none; }銆€銆€绗竴锛屾暣涓韩浣撳畬鍏ㄨ鐩栧湪浼翠荆韬笂锛屽ぇ鑵垮す绱у叾鑷€閮ㄤ袱渚э紝缂撴參鎬ф劅鍦扮Щ鍔ㄩ鐩嗭紝鐢ㄨ吂閮ㄥ拰涔虫埧杞绘摝鍏跺悗鑳屻€傘€€銆€Second, in the partner’s ear and back neck blowing, strengthen his feelings.

If the wife has long hair, it can be used to swipe the front of her husband and make him more excited.

It should be reminded that in this process, you should support yourself with your knees and elbows to avoid being completely pressed against each other.

銆€銆€Third, restore your kneeling position, sweep your partner’s back with your fingers, and sweep your shoulders down to your hips to increase the vitality of your skin.

銆€銆€Fourth, lean forward and place your forearms on the back of your partner.

Before the arm gently rubs his main shaft, the body can lean forward slightly, and the brake can cover his back.

銆€銆€Fifth, when you touch his shoulder, the palm is aimed at his arm and tries to stretch forward. The body leans softly against him, keeps the two bodies in contact for a moment, adjusts each other’s breath, and gives each other some time to relax.

5 weeks healthy detox slimming strategy


5 weeks healthy detox slimming strategy

To lose weight first detoxification, the body toxin accumulation and weight loss methods are all white.

How can detoxification be both fast and without affecting your health?

You may wish to take a look at the 5-week detoxification slimming plan shared by netizens. The effect is not bad.

銆€銆€Week 1: Emptying the garbage in the body. Objective of this stage: Excrete all the wastes that are happy to burn calories.

銆€銆€Interfering factors: biscuits, bread, flour, chocolate, carbonated drinks, juice, meat, cheese, etc.

These foods are not easily removed in time, so it is best not to immerse yourself in your own refrigerator.

銆€銆€Routine nutrition: Everyday meals are essential for all kinds of fresh vegetables, fruits, yogurt, fish or seafood.

In addition, you should also prepare a satisfying low-fat taste, and feel relieved when you are hungry.

銆€銆€Low-fat foods that do not need to be avoided include: soy milk (used to supplement fiber and plant fiber, which helps to consume trace amounts in the body); green tea (the tea polyphenols can activate the activity of enzymes in the body, which is good for detoxification and promote sugar metabolism);(A kind of artificial sweetener, made of glucose and other ingredients, easy to digest); Honey (can promote metabolism, eliminate body waste); Sesame oil (food oil with sesame as raw material, easily digested by the body); Balsamic vinegar(At least 10 kinds of amino acids necessary for the human body can significantly relieve constipation); Mineral water (rich in calcium).

Drink a bowl of homemade detox soup before meals, and drink it as needed during the formal suspension.

銆€銆€Practice: first prepare half cabbage, 6 carrots, 2 sweet peppers, 1 celery, 8 potatoes (peeled), 1 parsley, 2 cloves of garlic, 6 onions.

Wash one by one, then boil about 3 liters of pure water, then pour all these vegetables into the cooked and serve.

銆€銆€Tip: It is very important to help digestion. If you have too much stomach to swell, it is recommended to take appropriate digestion tablets to help digestion.

Carry a bottle of green tea with you (preferably in a thermos cup) and a mouth-stopping oral spray.

When you are too hungry, eat an apple, kiwi or pear to fill your hunger.

You can also eat a small amount of cereal or low-conversion snacks, or even a small piece of low-fat chocolate.

銆€銆€If you can’t help but want to go to the restaurant to improve your meal, it’s best to quickly shift your attention.

For example, scouring a few favorite discs to go home can also help you spend this week with ease and even forget that you are in a slimming period.

Only one point, the time to enjoy the disc continuously should not be too long, and must fall asleep before 12 o’clock, otherwise the body’s metabolic system is prone to confusion.

Persist in drinking a bowl of vegetable detox soup before eating, the amount of food will be reduced to 1/3 of the usual, who can trim you thin after a week.

銆€銆€Weeks 2 and 3: The rules are also good. The goal of this stage is to enrich the nutritional recipes, not to be too taboo, but not to be unscrupulous, leading to a rebound.

銆€銆€Interfering factors: After the last week’s pure heart and evil food, the locusts in the stomach are bound to collectively “protest”. If you are really coveted, you will occasionally reward yourself a little.

銆€銆€Routine nutrition: In addition to every meal before going to drink vegetable detox soup, in the nutrition recipe last week, you can also add pasta, meat, eggs, maltose and other healthy and delicious, and occasionally come one or two dark chocolateOr cheese toast.

Get up 30 minutes earlier than usual, stretch your limbs on the balcony, exercise a little, then organize the room. If you have a pet, you can take a walk downstairs and come back for breakfast.

銆€銆€Tip: Breakfast is good, eat less in the afternoon. All these morning exercises are mainly to eliminate the nasty little belly, and share a hearty breakfast without burden: 2-3 slices of bread, 1 poached egg or soy milk plus cereal, 1 fruit, 1 cup of green tea.

After 4 o’clock in the afternoon, we must try our best to control the diet. When we are unbearable for a long time, we should drink a large cup of vitamin C mineral water. After 5 minutes, we can still eat a banana after we are not hungry.

銆€銆€In comparison with last week’s monotonous recipes, you can occasionally eat dark chocolate to solve the sputum in these two weeks, and enjoy the faint taste, at least psychologically enough satisfaction, sleep more pragmatic, wake up feel moreComfortable.

銆€銆€Week 4: Self-balancing body and mind The goal of this phase: to listen to the real needs of the body.

Almost without bothering, the body has actually developed what point to eat and how much to eat just the conditional reflex inertia.

銆€銆€Interference factors: When the pressure is too big or too long, you will let yourself temporarily ignore the real needs of the body and unknowingly eat too much.

銆€銆€Routine nutrition: As in the previous three weeks, continue the habit of drinking detox soup before meals; early, try to eat more at lunch, eat less at dinner; choose to replace in a quiet place, it is best not to watch TV while eating, it is not suitableWhen you have a meal, talk about it; develop a good habit of chewing slowly, and then swallow it after you have tasted enough of the food. This is good for digestion and absorption, and it is more likely to produce a feeling of belly. After about 20 minutes, there will be no more appetite.
銆€銆€TIPS: Drinking mineral water with bubbles when you are intimately in contact with water, the food will become more delicious.

The reason is simple, and drinking water can make your taste buds more sensitive and help reduce eating.

It is a stretch of mind and body.

Don’t be stressed for slimming, but also know how to resolve psychological invisible pressure at any time, instead of suppressing it.

First find out the source of stress, then release them again, for example, intimate contact with water: bath, swimming, sauna, or even a drink of mineral water. you can feel that the magical water is not just skinIt has a role, and it is also related to oneself, and it can relax the nervous nerves subtly.

銆€銆€When you feel hungry, you can eat anything, but you must stop it. You can’t control it.

Can I go to my favorite restaurant to treat myself?can.

But don’t be too late, because the hormones secreted after midnight are not good for weight loss.

銆€銆€Week 5: Impeccable Ending The goal of this phase: to consolidate the slimming results that have been achieved and to persevere.

銆€銆€Interference factors: In contrast to the reference objects that are not fat, it is impossible to enjoy life as freely as a woman. The will begins to shake and even 鈥渟ink鈥?to the state of eating and drinking.

銆€銆€Routine nutrition: six meals a day, eat less per meal; cultivate some Yaxing who cooks in person.

For example, pre-purchased steamers, woks, casseroles and a large number of dishes, and cooked soups on weekends according to the instructions on the cookbook.

Shop on the bookstore or buy one or two real cooking reference books online.

銆€銆€Tip: Prepare healthy snacks Even if you can take six meals a day, but the hedonists are not enough, you may wish to carefully prepare some 鈥渢onics鈥?

For example, in the morning, drink a cup of yogurt in OFFICE, and then eat a fiber-rich fruit (banana, apple, pear, etc.) after lunch. You can have a roll of sushi at 5 o’clock in the evening and a small drink at night.Bowl of soup.

銆€銆€Can you go out for a tooth festival this week?


But before going out, it is recommended to eat an apple mat to ensure that you will not let yourself eat too much.

Change the new clothes of the small one, and pass through any window to take advantage of the opportunity to appreciate yourself: Wow!

Such a great figure!

I really can’t recognize the girl in front of me!