Tongkun shares (601233) quarterly report comments: the company’s profitability improved, performance in line with expectations

Tongkun shares (601233) quarterly report comments: the company’s profitability improved, performance in line with expectations

Event: On 重庆夜生活网 August 26, 2019, the company announced the third quarter report of 2019: the report, the company achieved operating income of 372 in the first three quarters.

4 billion, an increase of 20 per year.

66%; net profit attributable to mother 24.

$ 5.1 billion, twice a year.

10%; basic income 1.

34 yuan, at least 2 in 2018.


Key points of investment: The performance of the PTA business is bright, and the company’s performance is basically in line with expectations: the company achieved operating income of 372 in the first three quarters of 2019.

40 billion, an increase of 20 per year.

66%; net profit attributable to mother 24.

$ 5.1 billion, twice a year.

10%, performance is in line with expectations.

The slight fluctuation in the quarter was initially due to a surge in PTA prices in the third quarter of last year, and the company’s profit in the single quarter of 2018Q3 was 11.

4 billion is the starting point for the company’s single quarter profit. The PTA price change in the fourth quarter of 2018 caused a negative net profit in the fourth quarter; net profit was 10 in the third quarter of 2019.

6.1 billion, profitability is already the second highest point in the company’s history.

Judging from the spread, as of 2019Q3 (September 30), the average PTA spread was 1061.

40 yuan / ton, the lowest is temporarily 16.

88%; Polyester filament POY exclusion tax is 7,600 yuan / ton, which has accumulated 31 in the past year.

22%; FDY is priced at 7,600 yuan / ton without tax, which is more than 32 at the end of last year.

14%; DTY is priced at 9,100 yuan / ton without tax, at least -27 in the past year.

78%; from the perspective of sales, the company’s polyester filament sales in the first three quarters of 2019 were 419.

69, an increase of 28 each year last year.

89%, of which POY / FDY / DTF sales were 280.

88 digits / 83.

27 digits / 55.

54 inches.

Actively promote project development and expand production capacity to realize the entire industrial chain layout: The first phase of Zhejiang Petrochemical with a 20% stake in the company is expected to be put into production in the second half of this year.In 2005, ethylene has extended into the upstream raw material PX field to realize the layout of the entire industrial chain.

In addition, the company’s existing four projects are under construction: Hengyou has an annual output of 30 POY projects, Hengyou has an annual output of 30 POY technical transformation projects for polyester, and filament civil construction is in the final stage, and some spinning equipment has been completed.Installation, polyester device is about to be put into production; civil construction of the green intelligent fiber project with an annual output of 30 is completed, and the polyester device has recently been commissioned;Construction sweeping phase.

In the future, the project will be put into production gradually, and the company’s performance can be expected.

Profit forecast and investment recommendations: The company’s operating income is expected to be 484 in 2019-2021.



9.3 billion yuan with P / E of 7.

78, 7.

39, 7.


Maintain the “overweight” rating.

Risk factors: Crude oil price volatility breaks; weak downstream terminal demand

Institutional surveys surge nearly 200%, hard tech companies focus

Institutional surveys surge nearly 200%, hard tech companies focus

Source: Daily Economic News Recently, after the market slumped 3000 points weakly, it searched for support downwards, but the structural market continued, and some core assets continued to hit new highs.

  Obviously, private equity firms are retreating.

According to the data of the private equity emptying net combination master, as of November 8th, the average position level of domestic private equity institutions of all sizes of stock strategies was 52.

21%, the lowest level since 2019.

  Is the market at the end of the year defensive or offensive?

The survey data of the institution in the past month have revealed the mystery, of which hard technology companies are the focus of research.

  Private equity positions in stocks fell during the year. The data from the private equity ranking network combination masters showed that on November 8th, the average position of private equity institutions of all sizes in China was 52.

21%, the lowest level since 2019.

Looking at specific positions, 34 of them.

62% of private placements are between 20% and 50%, 34.

07% of private placements are between 50 and 80%, and positions over 80% of private placements are only 17%.

17%, and another 14.

15% of private placements are less than 20%, and the overall position of 10 billion private placements is also close to the year’s low.

This means that under the background of the market’s box shock, private placements have fallen, and there is too much “ammunition” at the end of the year.

  In addition to the expansion of private equity fund positions, newly established private equity funds will gradually enter the market.

Fund industry data shows that in October this year, a total of 1,383 private equity products were filed with the Association, while November this year ended November 18, a total of 903 private equity products were registered with the Association.

  Regarding the year-end market, a large number of private equity institutions corrected their defense strategies. Zhuang Hongdong, the general manager of the cheese fund, told reporters: “We still maintain the previous strategy and adopt a neutral thinking. The proportion of cash positions is between 20% and 30%.Industries with better growth and higher certainty include large consumer industries such as white goods, biomedicine, and large financial industries such as banking and insurance.

In terms of allocation, the company still maintains a strong risk control idea and a balanced allocation. The industry has a certain proportion of restrictions on promising stocks.

Li Yinghong, chairman of Longmen Assets, told the reporter of “Daily Economic News”: “The market is currently in a trend of turbulence and consolidation, rather than a clear signal of directional choice.

Class investors have divergent differences in the value of A shares: foreign investors are extremely bullish on the market outlook, but internal investors are cautious.

Analyzing various factors, we believe that it is more appropriate to maintain a relatively balanced configuration at the end of the year.

Since we are doing absolute revenue, we are currently maintaining 60% for new products?
About 70% of the positions can be attacked and retreated.

For old products with strong defense pads, we choose the strategy of holding stocks. After all, we are investing in prices. At the moment, it will be easier to make individual stock choices.

“Yuan Huaming, general manager of Huahui Chuangfu Investment, said:” We will adhere to the past full-offensive offensive strategy. This is because we judge that China’s economy and stock market have been mainly suppressed by external uncertainties in the past two years.

However, the current highest estimated level of A shares, the continuous inflow of long-term funds driven by financial reform and internationalization, and the possibility of improving the external environment, the probability and space of the current broader market are far greater than the downward probability and space.

“Yuan Huaming further stated:” The A-share pricing system is in the process of moving closer to mature capital markets, objectively conducive to value investment and long-term investment style.

The core assets of A shares, represented by industry leaders and industry leaders, have outstanding performance certainty and are estimated to be relatively low, providing investors with high-quality target options.

In the past, the A-share market has the characteristics of bears long and short bulls. At present, there may be tails of long bears.

If there is a bull market in the future, falling market shocks are a good opportunity to attack.

“Computer software is at the end of the first expansion of the study, and the agency is particularly busy.

  Oriental Fortune data shows that the number of institutional research has increased in the past month. The number of institutional surveys was 8,359, an increase of 5,545 from the previous period, an increase of 197%.

Among them, the number of mainboard studies was 1,576, an increase of 1,126 compared with the previous period.

The number of GEM surveys was 2,392, an increase of 1,615 from the previous period.

The number of small and medium plate studies was 4281, an increase of 2703 over the previous period, an increase of 171%.

Judging from the number of listed companies, the institution studied 382 listed companies in the past month, an increase of 194 over the previous period, an increase of 103%.

  It is obvious that hard technology has recently become one of the main lines of the A-share market, and has been continuously making new highs.

In this regard, some private equity institutions believe that technology is an investment direction that can last for a period of time. Since October, institutional investors have conducted research on internal companies including computer software, electronic devices, and high-end manufacturing.
In essence, listed companies in sub-sectors such as TMT and high-end manufacturing, which include the “hard technology” strength, are the focus of institutional research.
  From the perspective of the research industry, computer software ranks first, followed by electronic equipment manufacturing, third place is electronic devices, 四川耍耍网 and fourth place is specialized equipment.

  In general, in computer software, Guanglianda was surveyed by 364 institutions, followed by Shiji Information, surveyed by 113 institutions, Qixingxingchen was surveyed by 88 institutions, and China Information Information was surveyed by 81 companies.Institutional research.

In addition, Chen’an Technology, Perth Software, HKUST Xunfei, Hypergraph Software, Huayu Software and other institutions are also among the top surveyed by institutional investors.

  It is obvious that from the perspective of institutional research, for technology stocks, institutional investors have begun to pay attention to performance. From the discovery records of some listed companies, the institutional concerns include the reasons behind changes in performance and the needs of downstream 深圳桑拿网 customersSituation, market space and share, and the contribution of each company’s fist products to the company’s overall performance.

What role do you play among friends?

What role do you play among friends?


If your BF gave you a birthday gift worth five hundred yuan, how much gift would you give when he celebrates his birthday?

  A, a gift of about 250 yuan → 1 point B, a gift of about 500 yuan → 3 points C, a gift of more than 500 yuan → 5 points D, a gift worth more than 100 → 1 point Q2.

If you are walking with good friends, and you see a lot of people gathered somewhere, your friends suggest to go and see, how will you react?

  A, the two walked towards the crowd together → 5 minutes B, told a friend: “It depends on you!

“→ 1 point C, stop friends from going to watch → 3 points D, ask someone else what happened → 3 points Q3.

If you pay for drinks at the vending machine in front of the convenience store, but nothing falls out, so you refuse to the convenience store staff, how do you expect the staff to answer you?

  A, “Do you have any coins?

“→ 1 point B,” That machine is broken. I’ll refund you!

“→ 3 minutes C,” Pat the scheduled mouth of that machine, it may be stuck!

“5 points D,” This is not something in our shop! ”

I am not sure!

“→ 1 point analysis of results: total: equal to 3 points A: conservative negative Whether you take the initiative to interact with people or not contact anyone, you can enjoy yourself. For this reason, you thinkDealing with people is troublesome.

Although you can talk to the person you met for the first time, you can’t show your good side, let the other person understand you and like you.

Most of this type of you have personal unique views, but once you are in the team, it is just not so coordinated.

  Total: 4 to 6 points B: The ups and downs of your mood have always been cloudy and uncertain. You can get along well with the people you talk to, but it is difficult to get along well with people who are not in the right direction.

Because you always love and hate, if someone hates you from the beginning, it will be hard to get your favor from now on!

Similarly, the person you like may become annoying because of your mood change.

In short, your relationships also expect your mood to fluctuate.

  Total: 7 to 9 points C: You have the strong self-control ability as appropriate for this type, so you can get along well with any person and maintain a good relationship, even if you don’t really appreciate what they do, Will not show likes and dislikes at both ends.

Due to the strong adaptability, everything that needs to communicate with others and coordinate will not be difficult for you, transformation, you also have your own set of emotional control, you can deal with various unreasonable things more flexibly in life.

  Total: 10 to 12 points D: You are very intelligent in social masters. You can communicate with people you do n’t like, and you are welcomed by the audience!

People with these characteristics can of course be regarded as first-rate social figures on social wrists!

Usually you always smile and welcome people with a lively and cheerful personality, so people around you love to talk to you or discuss problems.

If you think that the people around you are friends, it is definitely not your fault, and it will naturally get better in the future.

  Total: greater than 12 points E: Active leadership You hate being called or learned from others. Usually, some people say that you are always self-centered, have a deep desire to express, love to be noticeable, you may not believe it, noIt is undeniable that this is indeed the case. It is because of the temperament of your leadership that you hate being sent especially. You always want to give play to your talents. You can only take a proactive attitude in communication, but sometimesArguing over differences of opinion.

Wuji Baifeng Pills Cannot Treat Everything

Wuji Baifeng Pills Cannot Treat Everything

For female friends, Wuji Baifeng Pill is a very common drug. It does have a certain effect in treating gynecological diseases. When girlfriends are chatting, they hear who has excessive leucorrhea, irregular menstruation, and even whoThere are spots on both ends, and she is fragile and sick, and she will be recommended to be treated with Wuji Baifeng Pills.

You should know that although Wuji Baifeng Pills can treat diseases, they are not a panacea. They can treat all diseases, and the treatment effects are different depending on the patient’s constitution.

  Too many women will find that after using Wuji Baifeng Pills, they also have irregular menstruation, some use effective, others do not improve, and even menstruation becomes more and more disordered.

What is the reason?

What kind of medicine is Wuji Baifeng Pill?

  Wuji Baifeng Pill is not a “universal tonic” for women. Wuji Baifeng Pill comes from “Jiyin Outline”, which consists of black chicken, ginseng, astragalus, antlers, antler cream, mulberry, angelica, chuanxiong, Baiji, habitat, salvia miltiorrhiza., Oysters, silver Bupleurum, scallops, Asparagus, yam, Zhishi, Xiangxiangfu and other 20 kinds of traditional Chinese medicine.

Among them, astragalus and ginseng replenish qi; antler gum, antler cream for liver and kidney; mulberry, kidney and yang; Angelica, Chuanxiong, Paeonia lactiflora, Shengdi 4 flavors are tonic blood, Fang Siwu decoction, which has the functions of nourishing yin and activating blood;Salvia miltiorrhizae, oysters promote blood circulation and soothe the nerves; Yin Chai Hu, Bie Jia Qing Deficiency; asparagus nourishing yin; Chinese yam, Zhishi nourishing the spleen and dampness; the fragrance making and warming manager popularity.

  From the above group of prescriptions, Wuji Baifeng Pill has the functions of nourishing blood, invigorating qi, and yin and yang, and is suitable for the treatment of complications such as irregular menstruation caused by deficiency of qi and blood, bleeding under the belt, and menstrual cramps.

In other words, Wuji Baifeng Pill is effective only for those caused by deficiency of qi and blood, and it is not good for gynecology caused by other factors.

  Irregular menstruation, there are many reasons why obese women do n’t eat. Irregular menstruation caused by deficiency of qi and blood, and dysmenorrhea caused by insufficient yin essence., Thin texture, thin body, shortness of energy, dizziness, yellowing or lack of luster.

  However, through the improvement of living conditions, many women’s irregular menstruation is not caused by physical “virtual”, especially some obese women are also prone to irregular menstruation. Traditional Chinese medicine syndrome is classified as “phlegm dampness”.The words of Feng Wan will increase the “phlegm” and the condition may become more serious.

  Therefore, we must be cautious in treating drugs in our lives. Don’t blindly believe in the efficacy of a drug, let alone think that a drug can cure all diseases.

Go to the doctor when you are sick. Take a diagnosis based on your physical condition. Do n’t take the medicine yourself to avoid unpredictable harm.

The golden age of caring for your baby’s skin

The golden age of caring for your baby’s skin

The newborn baby’s skin looks flawless, but it is also very delicate. It may be exposed to external stimuli at any time. After the baby’s skin is fully developed, it will become irreparable regret.

Therefore, the baby’s inherently perfect skin needs more careful care.

3 years old is the prime time for baby skin care. Recently, a study on the seasonal factors of Chinese skin growth led by Professor Ma Lin, director of the Department of Dermatology, Beijing Children’s Hospital, Capital Medical University, showed that 0?
3 years old is a period of rapid skin development for babies, and it is also a “golden time” for them to gradually improve their skin barrier function.

If the mother can supplement the baby’s skin with proper nutrition while moisturizing in time, it will help promote the development of the baby’s skin barrier function and retain their perfect skin during the “prime time” of skin care.

  But most moms don’t know, 0?
The skin of a 3-year-old baby looks tender and smooth, and is flawless. In fact, it needs special care.

Because their skin barrier function has not yet been developed and the water on the surface layer of the skin is easily lost; coupled with the thin stratum corneum, the ability to resist various external stimuli is weak, so the skin is particularly vulnerable.

These damages will cause them to accumulate with age and it will not be possible to recover after the baby’s skin has matured.

  Care for babies from now on. Baby’s skin thickness is only 1/3 of that of adults, skin cuticle is thin, barrier function is weak, and the ability to balance and regulate acid-base balance is poor. It takes 3 years to develop to the same as adultss level.

In the meantime, the baby’s delicate skin will be tested by various stimuli, including bacteria, ultraviolet rays, dust, etc. For these “attacks”, the baby’s delicate skin has almost no tricks, and is inherently “perfect”.The state is inevitably greatly reduced.

It can be seen that it is urgent to take care of the perfect skin of the baby.

According to the survey, the skin’s moisturizing activity is the highest in the infant’s birth. Therefore, the baby’s skin always looks smooth and hydrated, and is full of luster.

However, with age, the moisturizing activity of the baby’s skin will gradually decrease, and the moisturizing ability and health of the skin will depend more on the perfection of the skin function.

Professor Ma Lin advises mothers to properly nourish and protect their tender skin from now on!

  In winter, the baby’s skin needs to be “tonic”. In winter, the baby’s skin will face more severe challenges from the environment. Due to the poor barrier function, the baby’s skin will continue to be in a state of dehydration in the low temperature and dry”.

Therefore, in winter, in addition to hydrating, nourishing the baby’s skin is essential.

During the baby’s skin development, although its own ability to absorb free water molecules in the air is very high, due to the imperfect skin function, most of the absorbed water stays on the skin surface and is easily lost.

Therefore, the key to caring for the skin and maintaining its perfect state is to provide sufficient nutrition for skin development, promote skin barrier function, improve the ability of resisting external aggression and improve the skin’s self-healing mechanism.

  Experts suggest that providing nutrition for infant skin development should include two aspects: First, pay attention to the replacement of proteins and lipids (fatty acids) in the diet. Food contains a large number of nutrients that promote the development of human functions. These nutrients are important for skin development.The impact is significant.

Such as protein, aunt, vitamins A, C, D, B12, folic acid and iron, etc., and these foods of these nutrients are mainly milk, meat, fish, eggs, soy products, seafood, animal liver,Green fruits and vegetables, mushrooms, etc.

In addition, in order to prevent the loss of nutrients on the baby’s skin, in addition to the nutritional supplement of food, a certain amount of nutritional supplement must be given to the skin from the outside.

Because the baby’s skin is weakly acidic, when choosing baby skin care products, pay attention to choosing products that replace neutral or slightly acidic nutrients, such as vitamins and pearl powder, protein, etc., so that it is easier for the skin to absorb.

Why do girls lose themselves?

Why do girls lose themselves?

Type one: Young girl who tastes the forbidden fruit, rich in feelings and fragile in reason, full of mystery about sex.

During the love period, due to the love of the opposite sex, the other person’s intimate behavior, gentle language, and passionate eyes, they will arouse the enthusiasm buried in the girl’s heart for a long time.

And once this relationship breaks the line of reason, then sexual relations will occur.

This emotional impulsive loss is the most popular.

It can be proposed by the woman’s initiative, or at the request of the man, or it is unclear who is active and who is passive. It is like alcohol in fire, which burns as soon as it comes into contact.

  Once these young girls break in love, they will have great mental pain and internal pressure, especially for women who have sex with men at their request or deception.

Some people suffer revenge from suffering. Sometimes this revenge is not only directed at the man, but also generalized to all men.

However, more people are surrounded by the abyss of pain, unable to extricate themselves, and even embark on a dead end.

  Type two: The pursuit of sexual satisfaction enjoys the loss of women. Not only does she not have this pain, but she feels a kind of satisfaction.

They do not have a correct understanding of the values of life, happiness, and sexual morality. They pursue “sexual freedom”, use men and women as a means of entertainment, despise virginity, and think that it is feudal consciousness.

Therefore, in the process of love, they are prone to physical relationships, and they do not care whether the other party loves her, nor do they consider leaving or leaving after the sexual relationship.

Some women can even have sex with strangers, not for prostitution.

Most of these people are sensualists or female pornographers, and their loss is a sexual satisfaction, not a pain.

  Type 3: Deformed “prostitution” also has a sense of deprivation. It has neither pain nor sexual satisfaction, but only some aspects of success.

They are not for the purpose of sensuality, or to achieve a purpose other than sex, and actively donate the flesh.

For example, in order to recruit workers, turn to work and gain more material enjoyment, etc., at the expense of selling virginity, she does not have the problem of being abandoned, so there is no pain. Once they have achieved their purpose, they will actively leave the other party. In fact,An “equivalent exchange”, although it is a formal form of prostitution, it is essentially prostitution.

  Type 4: Another type of cooked rice cooked with raw rice is to lose yourself in order to own each other.

In the process of love, the woman loves and admires the man, and at the same time, she is afraid of losing each other, so she actively dedicates her virginity to express her loyalty to him, in an attempt to tie the man in this way.The stupid way of “possessing” is in the middle of some men’s arms, and some girls are third parties who have sex with married women in an attempt to seize love. Once these people fail in love, they regret it and are oftenTormented by a strong self-blame, surrounds the abyss of pain.

  Type 5: Rape However, the most painful is the loss of life under violence. Because they are completely violated by their targets and raped by rape, their pain often turns into hatred, and this hatred has no place to vent.The irretrievable facts often make them discouraged, so-some people broke the jars, violently abandoned themselves, and even played with men to achieve psychological balance; some people suffered for life and couldn’t extricate themselves, and even committed suicide.Road; after some people have lost their own body, tempting other women to lose their body, so it seems they can get some relief and so on.

These raped women often have a post-self-blame, for example, they often think: If I do n’t go that way that night, if I do n’t wear a skirt and short pants, if I scream desperately, andIt wasn’t that he saw the cold-sharp knife slumped . then he wouldn’t be defeated.

However, nothing can be done again. This regret and self-blame can only aggravate the pain.

Ten nutritious foods to eat best before bedtime

Ten nutritious foods to eat best before bedtime

Many people think that eating before bed is not good for the body, especially women who pay attention to body shape, and they feel that eating before bed is not easy to digest and affects the figure. In fact, eating some food before bed helps to relax before bed and improve sleep.quality.

  1. Banana Banana is actually a “sleeping pill” with a peel. It is rich in complex amines and N-acetyl-5-methoxytryptamine, and it is also rich in magnesium that can relax muscles.

  2. Chrysanthemum tea Chrysanthemum tea has become the first choice for preparing tea drinks before going to bed, mainly because of its gentle soothing effect, and it is the best natural remedy for condensing and calming qi.

  3. It is well known that drinking a cup of warm milk before going to bed helps sleep, because milk contains a type of tryptophan, which can exert sedative effects like amino acids.

And calcium can help the brain make the most of this tryptophan.

Putting mild milk in the bottle will bring you a warm feeling of returning to your childhood, and gently tell you “Relax, everything is fine”.

  4. A large amount of sugar in honey has a stimulating effect, but a small amount of glucose can prompt the brain to secret orexin (phenyldihydrobenzazole), which is a newly discovered neurotransmitter related to thought response.

So a few drops of honey into warm milk or vanilla tea can also help relax before bed.

  5. Oatmeal Oatmeal is likely to be a good bedtime product and contains plenty of N-acetyl-5-methoxytryptamine.

Boil a small bowl of cereal and mix it with some honey.

Please try to chew hard and widen and make your teeth cavity bigger.

  6. Potatoes A small baked potato will not damage your gastrointestinal tract, instead it can remove acid compounds that block tryptophan for hypnosis.

If mixed with warm milk to make mashed potatoes, the effect will be even better7, almonds and almonds contain both tryptophan and the muscle-relieving medicine-magnesium.

So eating a small amount of nuts that are good for heart health is another good idea for hypnosis. 8, Flaxseed Flaxseed can replace “natural foods that stimulate your mood”, Omega-3 and fatty acids.

When your life is hampered and your mood is low, you may try to sprinkle two tablespoons of flax seeds on your soothing oatmeal, which may have unexpected results.

  9. A toast of whole wheat bread, with tea and honey, can help the body release an insulin, which can make tryptophan reach the human brain and convert it to complex amines there.

It was as if someone whispered in their ears, “It’s time to sleep.”

  10, Every Thanksgiving day, turkeys can be fragrant, which is attributed to turkey, which is considered to be the best source of tryptophan.

But this is only modern folklore.

Tryptophan starts to work when your stomach is basically fasting instead of full, with a fairly small amount of protein instead of a lot.

Put one or two thin slices of turkey on a few whole wheat breads late at night, and maybe you will start your sleep journey in the kitchen.

  If none of the above foods can help you go to sleep, maybe you need to check your sleep habits. What exactly keeps you so excited at night?