BYD (002594): The first quarter revenue exceeded expectations and the new energy model significantly increased

BYD (002594): The first quarter revenue exceeded expectations and the new energy model significantly increased


Investment Inc. announced its first quarterly report for 2019.

The company achieved total operating income of 303.

40,000 yuan, an increase of 22 in ten years.

50%; net profit attributable to parent company 7.

500,000 yuan, an increase of 631 in ten years.

98%; net profit attributable to parent company after deduction is 4.

12 ppm, an increase of 225 in ten years.



Our Analysis and Judgment (1) Going up against the trend, sales volume reported rapid growth, and the company’s total revenue increased.

50%, reaching 303.

4.0 billion; net profit attributable to mothers increased by 631 per year.

98%, reaching 7.

50 ppm, mainly because the net profit attributable to mothers was negative in the same period last year, and government subsidies had been reduced from 6 in the same period last year.

39 to ten to three percent.

31 ppm; In Q1 19, the sales volume of the automotive industry decreased by 14%, and the company’s sales volume bucked the trend, increasing by 5 per year.

19% reached 11.

760,000 of which, 62 are new energy vehicles.

23%, a year-on-year growth rate of 146.


Net cash flow from operating activities reached 4.


08 million yuan, an increase of 349 in ten years.


(2) Gross profit margin increased and profitability improved The company’s overall gross profit margin in 2019Q1 was 19.

05%, a year up by 1.

90 pct, which is mainly the volume of new energy vehicles, and the scale effect is gradually reflected; the cost during Q1 increased by 10.

76%, a decrease of 1 per year.

39%, of which the sales expense ratio dropped 0.

36 pct, which is 3.

51%, management expenses and financial expenses rose by 0.

63 and 1.

12 pcts, reaching 3.

45% and 3.


Overall profitability improved slightly.

(3) New energy vehicle product line is gradually improved The company’s sales volume in the first quarter was 11.
760,000 of which 62 are new energy vehicles.
23%, the total installed capacity of new energy power batteries and cars is 3.

966GWh; the company released 9 dynasty series products at the end of March, including 6 new energy sources; the company’s new energy vehicle product line layout has been gradually improved, with two complete lines of pure electricity and plug-in hybrids; Dynasty series models have been comprehensiveCovering the mid-to-low-end to mid-to-high-end range, in addition, the E-net car series cuts into the market below 10 mm, which impacts millions of sales through low-cost policies.

The company’s products currently have breakthrough competitive advantages in terms of 杭州桑拿 range, energy density, and power consumption per 100 kilometers. The battery self-supply model can ensure that conflicts are avoided during policy changes, and market opportunities are better seized.


The investment proposal estimates that the net profit attributable to mothers will be 37 in 19-20.

03 billion / 46.

68 ppm, an increase of 33 in ten years.

20% / 26.

06%, the corresponding EPS is 1.

36 yuan / 1.

71 yuan, corresponding to PE is 41/32.

52 times, from the perspective of historical estimates, the company’s current PE is about 54.

32 times, although higher than the historical estimate of the hub (about 39 since listing).

4 times), but the company ‘s future sales volume will continue to strengthen and the performance is flexible. We are optimistic about the company ‘s development for a long time and maintain the company ‘s “recommended” level.

4. Risk warnings (1) The sales volume of the automobile industry is less than expected (2) The downstream order volume is lower than expected

Jin Shiyuan (603369): Brand building looks forward to a higher level

Jin Shiyuan (603369): Brand building looks forward to a higher level

Recent situation of the company Recently, we studied the merger of the company and visited the core terminals of the Nanjing market: 1. The company stated that sales were better than the industry average and the brand continued its upward trend.

Will start promoting 500 in 19 years?
1000 yuan positioning national border crystal V series.

2. The goal of “doubling in three years and doubling in five years” has fully mobilized the whole company’s enthusiasm, marketing management, product development, employee incentives and other mechanisms have changed.

3. The profit of the national border channel is higher than that of the main competing products. The daily sales are fast and the channel sales are highly motivated.

However, the phenomenon of narrowing channel profits has also appeared in local markets.

Comment Guoyuan wins with product power, and the reputation of quality drives brand power.

The unique high quality of “medium alcohol degree, high alcohol mellow taste”, “slow drunk, fast awakening, and high comfort after drinking” has made the country recognized by consumers. It has obvious spontaneous word-of-mouth spread characteristics in Jiangsu, and it is continuously cultivatedFans of Guoyuan, product consumption for ten years and brand power continue to rise.

Brand building needs to go up to the next level to drive the country’s high-end product layout and further expansion of markets outside the province.

At present, companies need to accurately define the brand connotation and value of Guoyuan, 夜来香体验网 focus on building, go beyond transmitting a clearer brand value, and form a synergy through marketing, and gradually radiate higher prices to grasp 300?
The price of 500 yuan will bring further upgrades to consumers and radiate the country horizontally to promote the company’s layout outside the province.

Guoyuan has enough room for growth in Jiangsu, and the marketing transformation has accelerated.

The development of the national margin and the dream blue competition jointly benefited from the expansion of the sub-high-end in the province. In 18 years, the national high-end price is expected to be about 1.8 billion, accounting for about 18% of the provincial high-end price.One share increased to 20?
30%, national margin high-end income will correspond to 40?
6 billion.

The national margin of 100 yuan is in a period of 深圳桑拿网 spontaneous high-speed stable growth.

From the perspective of regional distribution, the markets outside Nanjing, Huai’an, and Yancheng in the province accounted for only 38% of the revenue in the first three quarters of the first three quarters of about 11 trillion. The absolute scale is small and can continue to improve.

After the new target reorganization, the company is improving the sales performance in these regions through measures such as integrated area management, dealer optimization, and expansion of market substitution.

The estimated profit forecast is basically unchanged, but the revenue and selling expenses for 19/20 are slightly increased to reflect the company’s good channel status and more aggressive expenses.

As the sector’s estimated hub moves upwards, we raise our target price by 9.

6% to 26.

3 yuan, corresponding to 19/20 24 / 20x P / E, the current price corresponds to 19/20 19 / 16x P / E, and the target price is 26.

6% growth space, maintain recommendation.

Risks If the company’s products continue to increase prices, sales may be affected.

Will the lights in your home hurt the child’s eyesight?

Will the lights in your home hurt the child’s eyesight?

Nowadays, when it comes to home decoration, people have regarded indoor air quality as a top priority.

As everyone knows, another kind of pollution-“light pollution” has quietly arrived.
Human eyes can adapt to a certain range of light radiation due to pupil adjustment, but when the light radiation increases to a certain amount, it will have adverse effects on the environment and human health, which is called “light pollution”.

So, what kind of “light pollution” situation is worth paying attention to in interior decoration?

  Messy lights are aimed at infants and young children’s eyesight problem one: the decoration is too bright and bright in order to make the room look more “beautiful” and to a certain extent overlapping insufficient lighting.

Some families prefer to decorate with higher color tiles, and even install multiple mirrors indoors, whitewashed walls, etc.

What would be unreasonable?

  Expert comment: In general, the light reflection coefficient of the roof and wall should be less than 60%, and the ground should be 15%?

The overly bright decorative surface is expected to have a reflection coefficient as high as 90%, which is beyond the tolerance range of the human body.

Exposure to this intensely reflective, colorless environment may damage the cornea and iris, leading to visual fatigue or decreased vision, increasing the incidence of cataracts.

At the same time, it will disturb the normal circadian rhythm and induce neurasthenia and insomnia.

  Problem two: When there are too many low lights, when families replace lamps and light sources, in order to pursue romance, luxury, and often reasonable lighting needs, the lights are designed as one, and sometimes they look messy.

Does this affect health?

  Expert comment: In addition to confusing colors, in addition to damaging vision, it also interferes with central nervous system functions in the brain.

People living under excessive and uncoordinated light radiation for a long time may experience symptoms such as dizziness, dizziness, insomnia, and low mood, and even increase blood pressure, palpitations, and fever.

The extent to which “light pollution” affects infants and young children, in addition to expanding vision, also affects vision development.

  How to improve indoor visual environment?

  ”Light pollution” cannot be underestimated. Is there any way to avoid its adverse effects on health?

  1. Lighting takes into account functional requirements and color matching.

  When decorating, you should choose different lighting methods according to different spaces, occasions and objects.

For example, the bedroom lighting is warm, the study and kitchen require bright and practical, and the bathroom tries to be warm and soft.

Generally in indoor lighting, the main light source is cold tones, and the auxiliary light source should be warm tones.

In addition, from the point of view of the use of the room, the study, living room, kitchen, etc. should use cold light sources, while bedrooms, bathrooms, balcony, etc. should use warm light sources.

  2. Keep the light source stable and refrain from direct light entering the eyes.

  The stable light source avoids the phenomenon of light or dark alternating or flickering, which can protect eyesight and improve work and study efficiency.

The lighting direction and intensity should also be paid attention to, otherwise the strong light directly into the eyes will have an adverse effect.

The “secondary lighting” method can be used to reflect the light after hitting the ceiling, which will not hurt the eyes and add a romantic alternative.

  3. Appropriate lamps can reduce the impact of “light pollution”.

  Commonly used indoor light sources will have different lighting brightness and “light pollution” effects.

Soft incandescent lamps, mirrored incandescent lamps and fluorescent lamps have a small impact on “light pollution”, and this type of light source can be used in living rooms.

For local lighting, use a light-shielding table lamp to block the transmitted infrared radiation contained in the new light source.

A woman’s eyelashes were burned in a nail salon


A woman’s eyelashes were burned in a nail salon

Hot eyelashes, eyelashes, beautiful eyes . In order to have a pair of “electric eyes” to make the eyes look more beautiful and attractive, many young women try to beautify their eyes.

A few days ago, the post-90s Fuzhou woman Xiaoxi (pseudonym) went to a nail shop called “The Beatles” in Gulou Antai Center and felt that her right eye was uncomfortable, red, swollen, watery, and itchy.

A doctor from Fujian Union Medical College Hospital diagnosed that Xiaoxi’s right eyelid was burned. Fortunately, no cornea was injured.

  After the eyelashes were burned, she couldn’t open her eyes the night before. When the reporter saw the woman, she was wearing a pair of sunglasses.

After taking it off, the reporter saw that Xiaoxi’s right eye was red and swollen, half open, and still shed tears from time to time.

During the operation, a female employee in the shop rolled up her eyelashes, fixed them, and applied a lotion. After a few minutes, the eyelashes curled up and her eyes looked more beautiful.

But after returning home, she felt uncomfortable in her right eye, could not open, and itching, and she would shed tears, so she came to Xiehe Hospital for treatment.

  On Xiaoxi’s medical history, the reporter saw that Xiaoxi’s right eyelid was burned after being diagnosed by a doctor.

Although there were no major obstacles, Xiao Xi said that one eye could not be opened, which affected her life and work, and she had asked for leave from the company.

She believes that the female staff in the nail shop did not operate properly and took up employment without distance training.

  At the “Beetle” nail shop, the staff at the shop acknowledged that it had indeed happened, and they had refunded more than 80 yuan for the hot eyelashes.

  If there is a female employee with relevant documents, the shop responded that the female employee has many years of experience in the industry, but the qualification certificate for the employee has fallen into her hometown, and it is more difficult to send it in.

  After the industrial and commercial personnel arrived, they began to coordinate the compensation between the two parties.

The reporter saw that in addition to nail art, nail salons also have hot eyelashes, Korean grafted eyelashes, painless ear piercing, and hair removal, which are not covered by the business services on the business license.

  Beauty and Hairdressing Association: Too many people in this industry have no qualifications. An eye doctor in Fuzhou reminded that the eyeballs and associated areas are extremely sensitive and fragile. Any operation performed must be performed with care.Failure to do so can cause symptoms such as folliculitis, and even damage the cornea and affect vision.

  The operation procedure of “permanent eyelashes” is similar to that of perm, in which the eyelashes are fixed with a roll core and a lotion, and the lotion is applied.

If care is not taken, the potion may clog pores or eyelid glands.

Eyelash curling requires a qualification certificate, which is an item of labor department training. After distance training, employees can apply for a qualification certificate submitted by the labor department.

  He analyzed that Xiaoxi’s eyelids could be burned for many reasons, such as low-level operating equipment, unqualified potions, substandard disinfection of instruments, lack of distance training for operators, and irregular operations.

At present, Fuzhou’s beauty and hairdressing industry has many fish and dragons, and many employees have no qualifications, which brings some hidden dangers to the beauty market.

  Grafting false eyelashes leads to the beauty of conjunctivitis. It is necessary to prevent too many girls from “grafting eyelashes” recently in pursuit of beauty. The so-called Korean grafting Japanese grafting does start to have the beauty of long eyelashes, but have you known for a long time that it hurt?

Recently, the citizen Ms. Wang “planted” a pair of long and dark false eyelashes, but within a few days, her eyes felt dry and uncomfortable. After being examined at the hospital, she was diagnosed with conjunctivitis. The doctor said that this was related to grafting false eyelashes.related.

  Recently, because false eyelashes are not disinfected, the eyelids are easy to cause diseases. Although grafting eyelashes becomes fashionable, healthy skin is the most important!

  It is understood that because the eyelash grafting does not involve the “dermal layer”, it is not a surgery, it is not a medical part, and it is a cosmetic service.

The reporter then came to a beauty salon in a distance of Zhenxing Road. The clerk introduced the materials used in the store’s eyelash grafting to the reporter. The false eyelashes in the beauty salon were well packed. The box was printed with the manufacturer, the date of production, and the production sanitation license code.The adhesive is also a medical glue that has no irritation to the skin.

The clerk introduced enthusiastically: “Before grafting eyelashes, operators in the store need to sterilize the hands and operating tools, and grafting false eyelashes is not always suitable. It depends on the physical constitution of some customers.It is suitable for eyelash grafting, and we will not recommend grafting for such customers.

“Ophthalmologists reminded,” Eye is a sensitive part of the human body. An irregular procedure during the grafting of false eyelashes may cause damage to the eyes, may block the glands on the board, and cause eye discomfort.

“How to make your eyelashes long and curled!

Xiaobian recommends a highly secret recipe: the first recipe: overnight tea materials: overnight tea, cotton pads.

  Step: Before going to bed, take out the tea that was brewed the night before.

Soak 5 to 8 pre-prepared cotton pads in tea.

After about 3-5 minutes, apply it to the eyes.

  The second recipe: olive oil and VE materials: olive oil, VE capsules, eyelash comb.

Be careful not to choose cooking oil when choosing olive oil.

  Steps: Take out a VE capsule first, and then drop it on the eyelash comb.

Then use your lash comb to brush your lashes.

When you brush your eyelashes, be careful and do not miss the corners of the eyes and the sparse eyes.

It is best to apply a small amount of VE with your fingers and apply it to the root of the eyelashes.The last step is to take an appropriate amount of olive oil, apply it again according to the method of VE and the original application position.

VE and olive oil help promote hair growth, and it is not easy for the eyes to grow.

Of course, apply it in moderation and stick to it every day.

  The third kind of remedy: vaseline material: vaseline, cotton pad.

  Steps: Same as the previous eye cream, take a small amount of vaseline and apply it to the eyelashes to promote hair growth.

  The first recipe: eye cream material: eye cream, cotton swabs.

Note that the selection of eye cream is recommended to eliminate the effects of dark circles, this kind of eye cream is rich in VE.

  Steps: Use a cotton swab to pick up an appropriate amount of eye cream, insert it into the root of the eyelashes and gently apply each eyelash.

13 most accurate psychological hints

13 most accurate psychological hints

1. When you believe that something is worth 10,000 percent, it will eventually become a fact.

  2. The law of expectation The law of expectation tells us that when we are expecting something very strongly, what we expect will appear.

  3, the law of emotions The law of emotions tells us that people are 100% emotional.

Even if someone says that someone is rational, in fact, when the person thinks about the problem “rationally”, it is also affected by his emotional state at that time, and “rational thinking” is also an emotional state.

So people are 100% emotional animals, and decisions at any time are emotional decisions.

  4. The law of causality has its own reasons for anything to happen.

There is cause for effect.

In other words, when you see any phenomenon, you don’t need to think it is incomprehensible or strange, because everything happens for a reason.

Your current situation today is the result of the causes you planted in the past.

  5. Law of Attraction When your mind is focused on certain fields, people, things and things related to this field will be attracted to you.

  6, the law of repetition Any behavior and thinking, as long as you keep repeating it will be continuously strengthened.

In your subconscious, as long as you can repeat some people, things, things, they will become facts in the subconscious.

  7. The Law of Accumulation Many young people have dreamed of doing a great cause. In fact, there is nothing big to do in the world, and some are just small things.

Little things accumulate to form big things.

Any major achievement or disaster is a cumulative result.

  8. The Law of Radiation When you do something, it affects not only the thing itself, but also other related fields.

Everything has radiation.

  9. Relevant laws The relevant laws tell us: there is a certain connection between everything in this world, and nothing is completely independent.

To solve a difficult problem, it is best to start from somewhere else and not just focus on a difficult point.

  10, the law of specialization The law of specialization tells us that only specialization in a field can develop in this field.

So no matter what industry you are in, you must aim to be the top of the industry. Only when you can specialize in it will your field grow exceptionally.

  11. The Law of Replacement The law of replacement means that when we have an unwanted memory or substitution habit, we cannot completely remove it. We can only replace it with a new memory or new habit.

  12, the law of inertia. As long as you can continue to strengthen it, it will eventually become a habit.

  13. The Law of Appearance The law of obviousness means that when we continue to search for and answer questions, these will eventually appear.

Red dates and blood


Red dates and blood

Jujube, longan, peanuts, red beans, brown sugar, ginkgo, and Chinese wolfberry are all foods for blood and kidney that people often eat, and when they are matched with each other, they become a good blood-feeding diet.

  Jujube can also be drank in an iron pan and soaked in water to treat cold stomach and stomachache. After adding longan, it is a tea that invigorate blood and qi, which is especially suitable for teachers, salespersons and other people who use throat more frequently.

If you add 4?
6 capsules of wolfberry can also treat constipation, but people with thin stools should not add wolfberry.

Commonly used red dates, longan and wolfberry tea, not only qi and blood, but also eyesight.

  Red dates, peanuts, longan, plus brown sugar, stewed in a pot with water, often eaten, the effect of nourishing blood is very good.

Red dates and red beans are added to glutinous rice to make porridge.

  Cut 10 jujubes, remove 10 shells of ginkgo, and boil for 15?
20 minutes, eat every night before bedtime, can nourish blood and kidney, relieve cough and asthma, cure frequent urination, cure nocturia, and the effect is very good.

10 jujube incisions, 10 wolfberry seeds, boiled water to drink, nourish blood and kidneys, specialize in waist and knee soreness, eat for many years, have the role of beauty and freckle.

  In addition, use trotters with soy beans and red dates to stew and eat; use turtles to add wolfberry, red dates, and ginger to rot and eat; cow dung, minced pork and red date stew to drink; beef hoof, pork hoof with peanuts, ginger, and red datesStew is rotten and these are good foods for blood.

Workplace pressure keeps calling for yourself

Workplace pressure keeps calling for yourself

“Hurry up and stop for yourself, give yourself a chance to breathe and adjust, otherwise, whether it is psychological or physical, there may be health problems.

“Sun Chunyun, a clinical psychiatrist at Beijing Huilongguan Hospital, said that people in the workplace always face” endless work pressure “, but often people take the initiative to accept it. It is sometimes more important to properly refuse work pressure.

  Appropriate rejection Although many people in the workplace have stated that they are unwilling to accept “infinite” work, they have never tried or even thought of an active refusal when their supervisors arranged tasks for themselves.

Most people in the workplace are unwilling even to accept arrangements from superiors.

  Sun Chunyun analyzes that this is actually “actively and passively accepting” and is an important cause of continuous work and stress.

Therefore, trying to communicate with your supervisor about the work you are undertaking suddenly becomes particularly valuable.

You must know that people’s risks and tolerance are limited. If their mental state is tense for a long time, they will be in a state of stress, and even if they have time to relax, it will be difficult to relax.

  Prioritize your work. If you have a lot of work to do, it may be necessary to write it down in a checklist.

This dual purpose is to prevent omissions, and more importantly, to help you prioritize your work, and separate the order in which work is performed and completed.

  Many times, looking at the work list and analyzing it, you will find that some things can be done later, and there is no need to crowd in the work list.

And the to-do list helps you keep track of it.

When you’re done with your work, using a pen to cross it out of the list also gives you a sense of accomplishment.

  Losing Perfectionism Perfectionism is also an important cause of stress.

At work, some people strive for perfection and want to do everything themselves to do their best.

As a result, repeated situations such as duplication, modification, and so on.

  Sun Chunyun said that this situation can easily occur to middle-level leaders.

The pursuit of perfection is a kind of self-motivated performance, but if you are too critical and even everything is done at once, it is completely unnecessary.

If you always repeat your work, your motivation will naturally suffer.

  Don’t always put pressure on your mouth. Some people always put “tired” and “high pressure” on their lips.

Sun Chunyun pointed out that proper venting is very helpful in relieving emotions, but it is also necessary to prevent the opposite.

  If you keep shouting “tired” and “stressful”, it may bring bad psychological cues and form a kind of thinking inertia.

Sometimes it’s not even stressful, but it can also create the illusion of stress.