The first batch of QDIIs who have been scolded for 12 years: Huaxia South’s net worth is still a loss on 1 Jiashi investment
After being scolded for 12 years, the first batch of QDII funds finally has two sources of net worth. Although the past 12 years have passed in Kilmos, the glory of the first batch of QDII funds is still vivid. On September 12, 2007, Southern Global Select was issued and became the first domestic stock QDII fund.The issue was far more popular than expected. In one day, the scale of fundraising was close to 50 billion yuan, far exceeding the predetermined limit of 15 billion US dollars.Selected for a placement of about 62%, it was formally established at a scale of 30 billion yuan. Since then, the issuance of several QDII funds has continued the issuance of the global selection of the South, Huaxia Global Selection, Castrol Overseas China, and Shanghai Investment Morgan Asia Pacific Advantage. The three QDII funds have begun to raise funds in the following month, all in the initial launch.The amount of funds raised on the day exceeded the predetermined amount, and the amount of funds raised on the first day continued to rise, reaching 60 billion, 70 billion, and 110 billion, respectively.The superiority of Shanghai Ventures Morgan Asia Pacific is sought after by hundreds of billions of funds, bringing the enthusiasm of QDII fund issuance. However, 杭州桑拿网 after the arrival of the financial crisis in 2008, Southern Global Select, Huaxia Global Select, Castrol Overseas China, and Shanghai Investment Bank Morgan ‘s Asia-Pacific Advantage four QDII funds collapsed across the board, and their net worth fell below the face value of 1 yuan. Today, for 12 yearsTime passed, there were 2 of them, Southern Global Select, and Huaxia Global Select ‘s net worth returned to more than 1. As of December 13, Southern Global Select Units had a net worth of 1.0480, the return rate since the establishment of 4.80%; Huaxia Global Equity Unit Net Worth 1.0540, the return rate since the establishment of 5.40%. On the investment mix of Morgan’s Asia-Pacific advantages, Castrol Overseas Chinese stocks are still below 1, so far this year, until December 13, the two funds rose by 22.22%, 16.64%. In terms of the role of fund managers, the four QDII funds have experienced multiple changes since the establishment of their respective fund managers. Huang Liang, selected by Southern Global, and Zhang Jun, who has invested in Morgan ‘s Asia-Pacific advantage, have managed for more than 10 years. Huang Liang and Zhang Jun are the two fund managers in Southern Fund and Shanghai Investment Morgan Fund. They are responsible for the main investment of their respective QDII funds. They have relatively rich overseas investment experience. Although Southern Global Select and Huaxia Global Select ‘s net value returned to more than 1, customers who bought during the solicitation period took 12 years to return to their original costs. The suffering and distress in this are not one or two words. I do n’t know when to invest in Morgan ‘s Asia-Pacific advantage mix, when will Castrol Overseas Chinese stocks return to net worth 1
Bank of Shanghai (601229) 3 quarterly interpretation: continue to maintain rapid growth
Investment Highlights Quarterly Highlights: 1. Net interest income +3.
4%, the main contribution of scale.
Among them, interest-earning assets increased by 0.
9%, credit increased by 3.
6%, at the time of calculation, the annualized net interest margin in a single quarter is up 1bp to 1 from the previous quarter.
2. Net program fee income is increasing rapidly every year. It is estimated that in the third quarter, with the development of investment banking, wealth management, cross-border and other strategic and distinctive business development, fee income from consultants 深圳SPA会所 and bank cards will continue to grow well.
3. Cost control is good, and the annualized cost-to-income ratio in a single quarter is 19.
2%, down by 1 every year.
4. Optimized asset structure and the proportion of deposits and loans increased steadily.
Asset-side loans grew steadily from the previous quarter. The overall growth rate was mainly due to the pressure drop in the scale of bond investment and the size of interbank assets. The proportion of loans to interest-generating assets increased.
The debt side is mainly supported by bond issuance, and the deposits are restructured at a faster growth rate, of which savings deposits have grown well, an increase of 8 from the previous quarter.
3%, the proportion of deposits to interest-bearing debt increased to 60.
Insufficient quarterly reports: The 天津夜网 non-performing rate in the third quarter decreased by 1bp to 1 from the previous quarter.
17%, but the net annual generation of non-performing annual increase in the single quarter increased quarter-on-quarter, and the coverage ratio and loan-to-loan ratio decreased slightly from the previous quarter.
The revenue and PPOP growth indicators under the high base effect, but the overall growth rate remains at 20%.
In addition, in the case of alignment of provisioning and accruing speed, the growth rate of net profit remained slightly wider.
In the first quarter to the third quarter of 19 revenue, PPOP, net profit attributable to mothers increased by 42.
2% / 27.
4% / 19.
5% / 30.
4% / 22.
1% / 14.
3% / 14.
Investment proposal: The company 2019E, 2020E PB 0
87X / 0.
78X; PE 6.
99X / 6.
06X (City Commercial Bank PB 1.
02X / 0.
91X; PE 8.
77X / 7.
80X), the company’s overall operation is stable, the third quarter revenue growth under the influence of a high base has a gain, but the net profit growth rate remains at a high level, the negative capital structure is constantly optimized, and the asset quality is generally stable.attention. Risk warning: the macro economy is facing downward pressure, the company’s deposit competition is under pressure, and performance management is less than expected.
Baby-friendly room (603214): Accelerated revenue growth in the second quarter accelerates the development of East China and South China markets in the second half of the year
The company released the semi-annual report: operating income for the first half of 201911.
79 ppm, an increase of 15 in ten years.
92%; net profit attributable to mother is 6228.
730,000 yuan, an annual increase of 27.
31%; net profit after deduction is 5088.
960,000 yuan, an increase of 25 in ten years.
68%; non-recurring gains and losses 1139.
770,000 yuan, mainly for government subsidies.
Net operating cash flow was -50.
410,000 yuan, a year of -100.
58%, mainly due to the purchase of goods, whether the cash paid for labor services has increased.
The supplementary average net asset income increased by 6.
82%, ranking 1 over the same period last year.
Brief comment on the single quarter revenue growth accelerated, offline stores accelerated.
The company’s revenue in the second quarter of 19 was 6.
3.4 billion, an increase of 18.
36%, 1Q19 revenue growth rate was 13 in ten years.
21%, the second quarter revenue growth has improved.
In the second quarter of 19, the growth rate of non-returned net profit was 25.
99% vs. 24 in 1Q19.
The 91% growth rate was basically flat.
In the second quarter of 19, the company opened 12 new maternal and infant stores, a net increase of 9 stores, and completed Chongqing Taicheng 51 in April.
72% equity mergers and acquisitions, increasing 18 stores.
In comparison, the number of new stores opened in 1Q19 was 6 and the net increase was only 1. The company opened stores in 2Q19 significantly faster.
At the end of the first half of the year, the company’s total number of directly operated stores reached 251, with a business area of 14.
910,000 square meters.
Deeply plowing East China, opening up markets in South China and Southwest China, revenue growth is expected in the second half of the year.
The company opened 8, 5, and 5 new stores in Shanghai, Zhejiang, and Jiangsu in the first half of the year. It plans to accelerate the deployment of East China and South China in the second half of the year. The number of stores to be opened is 44.There are 23 in Shanghai, 8 in Zhejiang, 4 in Jiangsu, 7 in Fujian, 1 in Guangdong, and 1 in Chongqing.
In April, Chongqing Taicheng contributed more than 13 million yuan in revenue 无锡桑拿网 after the consolidation and exceeded the limit of 105.
50,000 yuan, with the integration and advancement of the team, the performance contribution of the southwest region will increase in the future.
In the first half of the year, the gross profit margin of milk powder products increased, which led to a slight increase in net interest rate.
Milk powder products contribute the company’s main revenue, accounting for 46% of revenue in the first half of 2019.
4%, gross profit margin increased to 21.
87%, an increase of 3 every year in the same period last year.
Thanks to the increase in gross profit margin of major products, the company’s net profit reached 5 in the first half of the year.
71%, an increase of 0 compared with the same period last year.46 units.
Profit forecast: It is estimated that 淡水桑拿网 the company’s net profit attributable to the mother in 2019 and 2020 will be 1.
8.4 billion, an annual increase of 23.
1%, corresponding to 25 times and 20 times the PE in 2019 and 20 respectively.
The company is the only listed company in the mother-to-infant retail industry. The expansion in different places has continued to advance, maintaining the “overweight” rating.
Risk reminder: less progress than expected in remote expansion, intensified business competition in East China
Jiangling Motors (000550): Passenger cars continue to break through and actively expand overseas markets
Event: The company released production and sales data for November 2019, and the company sold a total of 2 vehicles in November.
50,000 units (+6.
A total of 25 vehicles were sold in November.
100,000 units (+3.
Comments: 1. The marginal utility of the promotion diminished. The sales growth rate in November fell.
50,000 vehicles (+6.
50%), of which 8280 are Ford brands (+106.
0%), JMC brand 16,920 (-13.
2%), 139 Yusheng brand (-38.
50%), 121 heavy trucks (-27.
1?In November, 25 vehicles were sold.
100,000 vehicles (+3.
0%), of which Ford brand 8.
10,000 units (+83.
7%), JMC brand 16.
70,000 vehicles (-12.
7%), Yusheng brand 1,286 (-80.
5%), 764 heavy trucks (-12.
Cumulative sales of Ford-brand 苏州桑拿网 SUVs were 46,012 (+757).
95%), which has made an important contribution to the growth of JMC’s sales.
We think the sales volume in November is under pressure due to the diminishing marginal benefits brought by the company’s promotional activities and the intensified competition in the industry.
2. The rapid growth of SUV drives the sales of Ford brand to rise. Ford’s commercial vehicle sales in November were 4,413 units (+17.
74%), cumulative sales of 34,991 units (-9.
67%); Ford SUV sold 3,867 units (+1326) in November.
94%), cumulative sales of 46,012 units (+757) from January to November.
The growth of Ford SUV sales has driven the overall sales of the Ford brand.
With “Ford China 2.
The continuous advancement of the “0” plan and the company’s continued deep cultivation in the segment of pure electric 武汉夜生活网 compact SUVs. We believe that Ford SUVs will continue their efforts to help the company’s sales growth.
3. Expand overseas markets and open up new growth space. JMC is focusing on expanding overseas markets, especially in emerging markets such as Southeast Asia and South America.
We believe that emerging markets such as the South American market have potential, while the territories have both brand and cost advantages. The expansion of overseas markets will bring new growth space for the company.
4. Profit forecast and investment advice The company has achieved remarkable results in developing the passenger car market, while actively exploring overseas markets, it is expected to further open up the company’s growth space in the future.
Expected 19 years?
21-year net profit was 2.
8 billion, 4.
3 billion, 5.
400 million, giving a “careful recommendation-A” rating.
5. Risk warning: sales promotion costs rise; sales are lower than expected
What should you pay attention to in chronic gastritis?
Many people suffer from gastritis at a young age because they don’t pay attention to their diet, which brings a certain waste to work and life.
Gastritis can’t be cured, even if the drug can only relieve the pain of the moment.
So we must learn how to prevent gastritis.
So what should you pay attention to when preventing chronic gastritis?
Let’s take a closer look below.
Precautions for the prevention of chronic gastritis 1. Mo diet is unrestrained.
Should eat less meals, regular quantitative, to avoid obesity pain, or more obvious pain, you can eat one or two soda crackers.
2, avoid eating MSG, hot and sour and salty food.
When the food is mainly light, the excessive taste is heavy, and the hot and sour products will stimulate the secretion of gastric acid and aggravate the condition.
However, a small amount of ginger and pepper can warm the stomach and enhance the protective effect of the mucosa.
3, avoid eating two hours before going to bed.
Frequently eating in the two hours before going to bed, it is easy to cause the sphincter to relax, causing the stomach acid to fall into the esophagus. De people are used to eating supper, full stomach and supine, which makes the stomach acid easier to backflow.
4, do not eat too greasy or fried food.
Diet When you try to choose digestible foods, you can eat meat in moderation, but you must cook it properly, and cook vegetables should not be half-lived.
5, fasting frozen and over-hot food.
In order to avoid excessive stimulation of the stomach, the diet should be moderate in temperature, and soup or drinking should not be excessive.
6, cancel drinking, strong tea and coffee.
Because wine is the most irritating to the stomach, gradually the ulcer disease worsens or worsens. If you like to drink tea, you should try to drink light tea and avoid strong tea.
7, fasting fruit with a lot of acid.
Patients with excessive gastric acid secretion should be careful not to eat fruits containing too much acid such as bayberry, green plum, plum, lemon, etc.
Otherwise, the condition is aggravated and the normal healing of the ulcer is seriously deteriorated.
Ugly parts of baseball herald good health
Mm who loves beauty always pays attention to the parts of her body that are not beautiful, but in fact, in some places, the more ugly the more your body is healthy.
A 12-year study involving 3,000 men in Denmark showed that those with a thigh circumference of more than 60 cm and strong leg muscles had a significantly reduced risk of premature death and heart disease.
First, many studies on large buttocks and cardiovascular and cerebrovascular diseases have shown that the levels of “bad plasma” in higher-ranking individuals are higher, and the level of “good plasma” is higher, so the chance of cardiovascular and cerebrovascular sclerosis is smaller.
Research from the University of Oxford in the UK has not found that people with big buttocks also have a low risk of developing diabetes.
Second, the longer the nails are, the slower the skin is, and the more severe the skin, the risk of skin cancer is increased by 10 times.
But at least, the latest research done by scientists from King’s College University of London shows that, compared with asymptomatic scores, people who are more affected are generally 6-7 years younger than their actual age, and they are more likely to have aging diseases such as heart disease and osteoporosisRelatively low.
Third, the small breast spine is more upright. Turkish researchers have found that slightly breasts, especially those above the D cup, are more likely to have upper back pain and spine curvature, and people with small breasts are not.
From a sexual perspective, small breasts are more sensitive to caressing than large breasts.
Fourth, the nose is not easy to catch a cold. University of Iowa research found that the nose shrinks and the chance of absorbing dust and other impurities will be reduced. Its ability to resist harmful bacteria is also stronger, so people with large noses rarely get colds or flu.
Fifth, thick thighs are good. A 12-year study in Denmark involving 3,000 men showed that thighs with a circumference of more than 60 cm and strong leg muscles greatly reduced the risk of premature death and heart disease.
Sixth, the toes sprint fast The latest British research points out that the toes became shorter during human evolution in order to run faster.
Long toes involve more muscles and bones, so running is strenuous and vibration reduction is poor.
Seven, flat leg injuries are less. The latest research in the United States has found that people with flat feet have fewer injuries to their feet and legs. People with 20% higher arches are 6 times more likely to be injured than flat feet.
Eight, the ears are old and deaf. Dr. Ralph Holm, a biomedical expert, said that the clearer the sound is obtained in the ear canal, so people with large ears are rarely deaf due to aging.
Stay up late to quickly recall the beautiful face
Finally changed back to the prototype of party animals!
However, this time I don’t want to become “Cinderella” after the carnival all night. If you also have this wish, enter the fast maintenance time with us and start a battle between sleep and maintenance!
180’Escape Makeup Fast Track: Cleanser and facial sponge are combined to take out 1/3 more cleansing milk than usual, put it on the palm of your hand, dip it in your eyes and massage for 30 seconds, then wipe off with cotton pad; wipe the restApply the lotion evenly on the surface. Massage both hands together in a circular motion for 60 seconds, taking care not to miss any corners; soak the face sponge, gently scoop out the excess water, and wipe repeatedly for two or three times until the makeup and dirt are dissolved.The lotion is completely removed.
Reasons for saving time: There are some lotion-like facial cleansers that can gently wash away dirt and dissolve makeup, so any skin can use it to remove makeup and clean in one step.
In addition, using a face wash sponge instead of ordinary facial tissues can even eliminate the need to rinse your face with water.
60 ‘Search pores fast track: use a cosmetic liquid with exfoliating function instead of ordinary lotion and evenly apply the exfoliating cosmetic liquid on the cleansed skin surface. Use your fingers to draw a small circle from the inside to avoid opening the eyes.Massage the entire face for 30 seconds.
Then wipe it gently with a cotton pad soaked with beauty fluid, and massage the forehead, nose, and cheekbones that are prone to keratinization and deposition of dirt.
Reasons to save time: Many beauty fluids and toners have the effect of softening horny and deep cleansing.
In some poor conditions or if you want to save time and can only clean easily, this function can be used to further remove the stubborn stains that are not taken away by the facial cleanser, which can achieve a fast and reliable deep cleaning effect.
30 ‘Happy Nourishing Fast Track: Add a layer of essence to speed up the absorption of the essence on the clean skin before the night cream, and pat it gently with your palm. After it is completely absorbed, apply the usual night cream, and thenThe speed of speed rushed to the longing soft bed.
Reasons for saving time: The essence is easier to absorb than ordinary creams, and this liquid rich in nano-penetration technology or a variety of plant extracts is more likely to penetrate deep into the skin, stimulate cell activity, and promote metabolic cycles.
Just like an invisible cell engine is implanted in the skin, no time-consuming and labor-intensive massage is needed, and the nutrients can be absorbed all by one.
“Universal” beauty causes mental illness
The American Association of Psychologists has found through a number of recent studies that the image of half-naked sexy beauty flooded on advertisements, television, newspapers, magazines, games, records, and websites can negatively affect women’s intellectual and mental health.
The generalization of female images by society and the media may entice young girls to judge human values only through sexual behavior, completely excluding unique personality charm, and as a result, they will be dissatisfied with their appearance, start to look for their own physical defects, and gradually lose their rightConfidence in your own and your physical beauty not only leads to depression, depression, inferiority, or even eating disorders, anorexia or appetite.
Dr. Zubringen, a professor of psychology at the University of California, pointed out that society and the media have generalized women’s images, especially the abuse of women’s images in the increasingly developed sex industry. Sexual magazines are mostly semi-naked or full-naked sexy women who have become imitations of young womenAs a result, girls have directly linked self-evaluation with sexual attractiveness, and they have misunderstandings about sexual relationships, which can negatively affect girls’ psychological, physical and intellectual health in many aspects.
First, it will reduce self-confidence, often lead to emotional disorders, and deliberate pursuit of sexy beauty will reduce attention and logical thinking ability; second, there will be psychological problems such as depression, inferiority, and even cause eating disorders, which directly affects physical health;Third, it will have a bad impact on sexual life.
>>>> Personality determines sex life (Photos) Dr. Zuzu Bringen said: “The consequences of the generalization of girls in the media are now obvious, and we have sufficient evidence to confirm that sexualization has an impact on the physical, intellectual, and mental health of girls.Sexual development has had a negative impact.
Society should fully display its unique personality charm, replacing all these sexual images.
Our goal should be for all boys and girls to grow up properly. Parents, school officials, and health department staff should start special education programs in schools as soon as possible within the framework of sex education to eliminate the negative role of wantonly depicting women as sexual objects.The government should legislate to limit the spread of similar images in the media.
According to Hill, a professor of psychology, it is difficult for people to deny the above conclusions. Now even all teenager magazines are talking about sex. Modern society has been visualized, and people ‘s opinions are completely dependent on what they see, plus advertisers.And the lack of social responsibility in the media, the generalization of female images will indeed have a negative impact on the intellectual and mental health of young girls.
Recommended six rabbit food products
Ingredients for wolfberry rabbit: 15 grams of wolfberry, 250 grams of rabbit meat.
Method: Add wolfberry and rabbit meat to an appropriate amount of water, simmer in low heat, and season with salt.
Drink soup and eat meat once a day.
Efficacy: can nourish liver and kidney, nourish qi and nourish blood.
It is suitable for dysmenorrhea with soft waist, dizziness, tinnitus, reddish tongue and fine pulse.
Ingredients for yam rabbit: 500 grams of rabbit meat, 60 grams of yam, 60 grams of trichosanthin, and vegetable oil, monosodium glutamate, and salt.
Method: Wash and cut rabbit meat, add water to sauté, simmer the boiled water, add yam, trichosanthin, and simmer until the rabbit meat is rotten and mature, season and take thick juice, and drink immediately when you are thirsty.
Efficacy: The soup made with rabbit meat in “Experimental Set of the Sea” is used to “relieve thirst, lose weight, and urinate”.
Chinese yam and tianya powder are used for antipyretic and tonic benefits of ancient recipes.
It is suitable for those who suffer from limb burnout and fatigue and coughing due to lung deficiency.
Ingredients for Chenpi rabbit: 250 grams of rabbit meat, 5 grams of Chenpi, and salt, shallot, ginger, cooking wine, pepper, dried pepper, soy sauce, vinegar, spicy oil, sugar, monosodium glutamate, sesame oil.
Method: Wash the rabbit meat and cut it into diced meat, put it in a bowl, add an appropriate amount of refined salt, vegetable oil, shallots, ginger slices and cooking wine, mix well and marinate for 30 minutes; soak the rind in warm water for 10 minutes, cut into small piecesHeat the iron pot with martial arts heat, pour in an appropriate amount of vegetable oil, when it is 70% hot, add dry peppers and fry it to brown, then add the diced rabbit, stir-fry until the flesh is white, add the peel and an appropriate amount of pepper, green onionFestival, ginger slices, continue to stir fry, after the rabbit diced dried, cook into fresh soup, soy sauce, vinegar, spicy oil, sugar and monosodium glutamate, collect the dried juice to cease the fire, drizzle with sesame oil to serve.
Efficacy: Suitable for those with yin deficiency and hotness, drinking thirst, drinking goodness, reducing body shape, dry tongue and upset, yin deficiency and blood heat, vomiting blood and blood in the stool.
Ingredients for Panax notoginseng: 1 rabbit, Panax notoginseng, 10 grams each of Codonopsis, 2 coriander, and onion, ginger, garlic, cooking wine, pepper.
Method: first wrap the ginseng and Sanqi with gauze, then wrap the peppercorns and aniseed with gauze for later use; wash the rabbit meat and cut into pieces; cut the green onion into slices, slice the ginger, and beat the pine with a knife;Add the prepared rabbit meat to the boiling water pot, add an appropriate amount of cooking wine, and remove the bloody smell; remove the rabbit meat and add it to the water to wash, and then put the medicine bag and pepper pepper anise bag together in the pot and boil over high heatAfter 10 minutes, put the simmered rabbit meat into the casserole, add the prepared shallots, ginger, garlic and cook over high heat, add salt, chicken essence after boiling, and then simmer for 40 minutes with low heat, put the medicine bag and anise bagPick the onion, ginger, and garlic and discard it. Add coriander and serve.
Efficacy: It can promote blood circulation and disperse blood stasis, nourish blood and reduce lipids, and is suitable for patients with hyperlipidemia and coronary heart disease.
Lo Han rabbit ingredients: 300 grams of rabbit meat, 1 Luo Han Guo, 100 grams of lettuce, cooking wine, ginger, spring onion, soy sauce, salt, MSG amount, 300 ml soup, 50 ml vegetarian oil.
Method: Wash and break Luo Han Guo; wash rabbit meat and cut into 3 cm square pieces; peel the lettuce and cut into 3 cm square pieces; cut ginger and shallots.
Heat the wok over the heat, add plain oil, and when it is hot to 60%, add ginger, spring onions and fragrant rabbit meat, Luo Han Guo, lettuce, cooking wine, soy sauce, sugar, salt, monosodium glutamate, and fresh soup.Ready to serve.
Efficacy: It can moisturize the lungs, relieve cough, and beautify.
It is suitable for those who have dry lungs and coughs, whose skin is not moist and has no Chinese complexion.
Ingredients for rabbits: 500 grams of rabbit meat, 20 grams each of angelica and astragalus, and rice wine, ginger slices, refined salt, monosodium glutamate, and sesame oil.
Method: Wash the rabbit meat and cut into pieces. Angelica and astragalus are washed and sliced, put into a gauze bag, tie the mouth of the bag tightly, and put it in the casserole.
Inject 600 ml of water. After boiling, skim off the froth, add rice wine, ginger slices, refined salt, and simmer until crispy. Remove the medicine bag, put MSG, drizzle sesame oil, and eat the meat in hot soup twice.
Efficacy: It can nourish Qi and nourish blood, strengthen the spleen and nourish the stomach.
It is suitable for those with chronic hepatitis, cirrhosis, weight loss and general weakness.