The three major indexes opened up collectively. How did the historical May index perform?

The three major indexes opened up collectively. How did the historical May index perform?
In the last trading week remaining in April, the New Third Board will usher in a major change, and the official PMI in April will be announced this week.Historical data shows that the monthly rise and fall of the Shanghai-Shenzhen Index in May are half the same. In the past 20 years, the Shanghai Index has risen 10 times and fell 10 times; the Shenzhen Index has risen 9 times and fell 11 times.On the morning of April 27, the three major indexes opened higher and the Shanghai Composite Index rose 0.13% reported to 2812.At 24, the Shenzhen Component Index rose 0.25% reported to 10449.At 13 points, the GEM rose to 0.37% reported to 2011.16 o’clock.According to the news, the state-owned stock transfer company began to receive application documents from 0:00 on the 27th, and officially started the replacement and review of the public offering of shares to unspecified qualified investors and listing business at the selected layer.Within 2 trading days after submitting the materials, the stock-to-equity company will make a decision on whether to replace it.According to wind statistics, as of April 26, there are 107 companies that are receiving receipts from tutoring and counseling centers in the selected layer, of which 12 listed companies have received tutoring agency receipts, namely Yingtai Biology, Guandian Defense, Guoyuan Technology, Blue Mountain Technology, Liujin Years, Ball Crown Cable, Fangda, Bettray, Airong Software, Longtai Home Furnishing, Chenyue Construction Management, Runnong Water Saving; there is also a company, MicroPort Optoelectronics, the companyThe announcement uses the original IPO counseling and acceptance.According to statistics, at the end of the first quarter of 2020, the balance of RMB exchange rate loans of financial institutions was 160.21 trillion yuan, an increase of 12 years.7%; an increase of 7 in the first quarter.1 trillion yuan, an increase of 1 in ten years.29 trillion.On April 26, the Ministry of Industry and Information Technology and the State Administration of Radio and Television issued a notice on promoting IPv6 transformation of Internet TV services.The notice requires that the IPv6 transformation of the network infrastructure be fully completed by the end of the third quarter, and that exchanges between various TV stations, CDN service providers, terminal manufacturers and other industrial chains will accelerate the realization of IPv6.How did the A-share index perform in history in May?According to statistics from Wind data, the Shanghai Stock Index’s monthly index in May has risen and fallen by half in the past 20 years. Among them, the largest increase in 2006 was 13.96%; the biggest drop in 2002 was -9.12%; last year, the Shanghai Composite Index fell by 5.84%.In terms of Shenzhen Component Index, Wind statistics show that in the past 20 years, Shenzhen Index has only risen 9 times and declined 11 times.Among them, the largest increase in 2007 was 19.13%; The biggest drop in 2005 was -11.25%; the Shenzhen Component Index fell 7 in May last year.77%.Regarding the market outlook, Huaxin Securities analysts pointed out that in the context of the rebound in A-share shrinkage and the decline in international crude oil prices, the market sentiment tended to be cautious in the context of the severe outbreak of overseas epidemics.The bottom warehouse, in the medium and long term, will continue to actively focus on new infrastructure (especially the core growth of the Q1 performance and the increase in orders).Analysts believe that the new infrastructure in 2020 is a typical booming industry theme and will be similar to the 5G industry equipment end in 2019.At present, 5G, big data centers, and UHV are among the fastest to be implemented in the new infrastructure.Among them, the 5G infrastructure has already shown a clear performance in 2019, and there is limited room for continued growth. It is recommended to focus on the application side of the 5G industry chain in 2020, such as high-definition video, virtual reality, cloud games, etc.In addition, existing listed companies have issued announcements, planning to invest in the construction of big data center projects; in terms of UHV, all 9 UHV transmission channels under construction by the State Grid have been resumed, and construction is accelerating, and the investment in construction projects will gradually reach 181.1 billionUSD, suggest to actively pay attention to related investment opportunities.For the upcoming May A-share investment strategy, BOC Securities Research reported that in May, the substantial impact of the epidemic will appear. US stocks are facing downside risks. They are alert to the risk of secondary sell-offs of overseas risk assets and the stock market volatility has increased.The report believes that the over-expected downlink of oil prices will become the fuse for the second shock of overseas markets in the future, will bring huge impact to the current high-leverage US shale oil companies, and cause risks such as credit defaults.The report judges that the liquidity-driven estimation and repair logic in the second quarter of the market reset is converted into profit factors. The second dip in the overseas market will bring uncertainty to the A-share market.Editor Xu Chao proofreading Wang Xin

[How to make sorbet with milk powder?】 _Production method_Homely practice

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[How to make cheese and ham roasted bell peppers]_Homemade method of cheese and ham roasted bell peppers_A complete guide to cheese and ham roasted bell peppers_How to make cheese and ham roasted bell peppers

[How to make cheese and ham roasted bell peppers]_Homemade method of cheese and ham roasted bell peppers_A complete guide to cheese and ham roasted bell peppers_How to make cheese and ham roasted bell peppers

Many of us may not cook in our lives when we leave our parents and live alone.

We must learn to cook. We ca n’t eat takeaway every day, and the food outside is not necessarily clean.

Let ‘s first introduce the method of grilled peppers with cheese and ham. After reading it, you must try it yourself.


1.Apply tomato sauce to the bell peppers, then coat with mayonnaise, then code the shredded ham (or slices of ham), then cover with a layer of mozzarella cheese, and sprinkle with ham, or another slice.Put the bell pepper on it and tie it with a toothpick 2.

2 Shred or slice one and a half cheese, and chop the other half.

After washing the bell peppers, cut into accessory pieces 3.

Spread a layer of tin foil on the baking sheet, and place the colored pepper cubes into 4.

Preheat the oven (that is, turn on the power, heat the oven empty, and wait for the electric heating tube to change from red to black, that is, the preheating is completed).

With 180 kilowatts, place the baking sheet in the middle of the oven and bake for 12 minutes. Today’s cheese and ham roasted bell peppers are introduced here. Did you learn?

In fact, the method is simple, and everyone does not prevent yourself from trying it out.

Pan Micro Network (603039): Industry Concentration Continues to Increase, Government OA Localization Accelerates

Pan Micro Network (603039): Industry Concentration Continues to Increase, Government OA Localization Accelerates

The company disclosed the semi-annual report for 2019, and realized total revenue of about 5.

USD 5.0 billion, an annual increase of 26%; net profit attributable to mothers was approximately 49.19 million yuan, an increase of 36% per year; net profit attributable to non-mothers was realized at approximately 35.7 million yuan, an increase of 16%; in Q2 2019, the company achievedThe total income is about 300 million US dollars, an annual growth of 23%; net profit attributable to mothers is about 29.86 million yuan, a long-term growth of 34%; net profit attributable to non-mothers is about 2390 million, an 杭州桑拿 increase of 28%.

A brief comment is that the revenue growth rate is higher than the industry growth rate, the market concentration continues to increase, and the fluctuations in the macroeconomic cycle do not change the company’s long-term growth trend.

2019H1, the company’s revenue growth level dropped to 25%?
30%, but still higher than the industry average growth rate.

By product, 2019H1 self-developed software products revenue3.

20,000 yuan, an increase of 18% in ten years (of which income from ecological products2.

930,000 yuan, an increase of 19% in ten years; electronic office products revenue of 9.08 million yuan, an increase of 25% a year); technical service revenue1.

920,000 yuan, an annual increase of 40%; third-party product revenue of 10.97 million yuan, an annual increase of 43%.

As a result, the company’s growth rate in the expansion of new customers for medium and large enterprises has decreased in the first half of the year. Thanks to the increase in the proportion of old customers’ income to bring more service income and the smooth development of small business SaaS business, the companyThe growth rate of technical service 杭州夜生活网 income accelerated.

Initially, we believe that the impact of the post-economic cycle on the industry and companies is limited. As a leader in the OA industry, Pan-Micro has realized the growth of the industry under the pull of intelligent, platformized, and electronic share.

Gross profit margin remained high and improved, and sales at the R & D end and channel maintained rapid growth.

In 2019H1, the company’s gross profit margin was 96.

05%, 1 year earlier.

16 units.

The company’s channel sales continue to expand. Currently, more than 300 service teams have been established in nine major regions of the country to provide localized services.

The increase in the project implementation cost corresponding to the authorized business operation center increases the company’s sales expenses. During the period, the internal sales expenses increased by 27%, which was basically the same as the revenue growth rate. In terms of management expenses, the 2019H1 distribution incentive cost was about 11.5 million yuan (compared toIn the same period last year (135.52 million yuan decreased by 15%), after excluding the impact of equity incentive costs, management expenses increased by 18%; in research, the company’s R & D investment was about 71.08 million yuan, accounting for 14% of revenue, and R & D expenses increased by 22%.High-level expenditures are expected to continue to maintain high growth rates in the future for research and development supplements and the construction of marketing service teams.

The localization of government affairs OA is rapidly advancing, and the smooth promotion of electronic seals has brought more incremental markets.

The company deeply builds and supports localization systems, replaces multiple localization technology platforms, supports the deployment of domestic operating systems, databases, middleware and other projects, provides government affairs OA solutions for party and government agencies, and serves many localization customers.

Against the background of accelerated localization, the government OA business is expected to achieve high-speed growth; at the same time, the company, in conjunction with Shanghai CA, promoted the electronic signature of contract locks to accelerate the progress of electronic office work, continued to improve electronic seals, anti-counterfeit printing, and data storage.The ability of intelligent printing and control integrated solution further deepens the product layout.

Fanwei is a leading company in the field of collaborative office, and as a product-oriented company, it can quickly copy and expand after product development and transformation.

Under the industry trend of increasing concentration, the company has deepened its development in the areas of collaborative management and mobile office through continuous R & D expansion and operation accumulation of a large number of market cases.

We continue to be optimistic about the long-term investment value of the company.
Revenue in 2020 will reach 13 respectively.

200 million, 17.

800 million, net profit attributable to mothers achieved 1, respectively.

5 trillion, 2 trillion, given a “buy” rating.

GAC Group (601238): AION LX unveiled at Shanghai Auto Show, AION S pre-sale orders exceeded 20,000 units

GAC Group (601238): AION LX unveiled at Shanghai Auto Show, AION S pre-sale orders exceeded 20,000 units

Event GAC New Energy released the Aion LX, a fully pure electric SUV at the Shanghai Auto Show.

Like the Aion S, the Aion LX is based on a pure electric platform GEP, and has a three-in-one electric drive system with a 510 km operating life.


The Aion LX is scheduled to be put into production in September, and it may have a working life of more than 600km during the year.

GAC New Energy also releases the self-driving system Adigo. GAC New Energy also releases the self-driving system Adigo, which is called the system adopts L3 level autonomous driving level to achieve the closed space L4 level autonomous driving demonstration operation. At the same time, it has powerful human-machine interaction functions.Provide AI intelligent voice, real-time navigation, AI finding charging pile, online music and social travel and other functions.

GAC New Energy pure electric sedan Aion S has a pre-sale order of 2.

30,000 GAC New Energy also announced that the first product of its Aion series, the Aion S sedan, had already booked more than 2.

30,000 units, with an average daily pre-sale order of more than 600 units, and an average single store over 500 units.

In 2019, the subsidy for new energy vehicles will increase the tax rebate slope, and the industry growth season will face challenges in 2019. The country that is in pure electric passenger cars will compensate the average retreat rate by about 50% and the retreat amount1.


The amount of land subsidies will be cancelled at the same time after the end of the supplementary transition period, and the actual decline will be even higher.

Taking into account that the speed of cost reduction is not as fast as the speed of replenishing the downhill, the theoretical car purchase / comprehensive cost of pure electric passenger cars will be increased to varying degrees during the downhill process / early stage after the complete downhill.high.

The domestic pure electric passenger car consumer group is mainly private users, and the consumption region has transitioned from the restricted purchase area to the dominant non-purchased area instead of overtaking.

We believe that the operating requirements in the restricted and non-purchased areas are all just needed, and the impact of compensation for declines on sales is limited. At the same time, the demand for theoretical comprehensive costs for operating purposes is that low-end models are its main component, and compensation for declines on vehicle structure.The impact is also limited.

Household demand in the restricted-purchase area is also just needed, and the impact of supplemental decline on sales is limited, but the increase in theoretical comprehensive cost may affect the actual car purchase method, and the proportion of low-end and mid-end models has increased.

Household demand in non-restricted areas is most affected by compensatory backslopes, and car purchase decisions may shift from buying pure electric passenger cars to buying gasoline passenger cars.

Combining several factors, the sales structure of pure electric passenger cars may have a certain tendency to tilt towards the low and mid-end, and the sales of mid-to-high-end models may be affected to some extent.

The product strength of mid-to-high-end models is the core competitiveness. GAC New Energy is struggling to strike. Although the mid-to-low-end adjustment of the model structure is a high probability event, mid-to-high-end pure electric models will still retain a certain market space.

In addition, considering the theoretical purchase cost of pure electric passenger cars, it is difficult to match the fuel passenger cars. In fact, if high-quality pure electric passenger cars rely on excellent comprehensive performance, supplemented by careful adjustments, fine interior and exterior trims, and high-grade systems.Dynamic driving functions, etc.深圳桑拿网, may develop and expand a customer base that is relatively insensitive to prices and has high requirements for vehicle models.

The GAC Aion series models use a new pure electric platform, combining high-energy density power batteries and electric drive systems that achieve a certain fast charge capacity, corresponding to the model’s operating conditions, acceleration of 100 kilometers, fast charge capacity, and intelligent driving capabilities.There are no shortcomings, and the product has initially achieved the quality of the product.

The stage of compensating for the descent is the stage in which the product power of the vehicle model is verified by the market, and the new energy vehicle leader gradually stands out.

GAC New Energy is expected to become a strong competitor of new energy vehicles relying on Aion series models.

Risks indicate that the delivery schedule of new energy vehicles is lower than expected, and sales are lower than expected, and safety risks of new energy vehicles.

Huanxu Electronics (601231) Interim Review: Gross margin shift and management expenses dragged down performance and future growth is still good

Huanxu Electronics (601231) Interim Review: Gross margin shift and management expenses dragged down performance and future growth is still good

Core point of view: Overall performance: 19H1 revenue growth rate reorganized, profit and gross margin slightly distorted. The company disclosed its 2019 interim report, and the company achieved 146 revenue in 19H1.

40,000 yuan, an increase of 14 in ten years.

05%, achieving net profit attributable to mother 3.

$ 8.9 billion and deducted non-net profit2.

51 ‰, separated by 0 every year.

67% and 35.

03%, of which 19Q2 single-quarter revenue of 69.

3 billion, an increase of 5 in ten years.

33%, net profit attributable to mothers1.

$ 6.6 billion and deducted non-net profit1.

23 trillion at 18 intervals a year.

81% and 46.


In terms of gross profit margin, 19H1 companies achieved an overall gross profit margin of 9.

72%, a decline of 0 per year.

74 units.

Breakdown by business: Consumer electronics and industrial products are growing faster The company’s consumer electronics and industrial products are growing faster, mainly due to the significant increase in orders for wearable products in 2019Q1 and industrial orders for new important customers in 2018 continued to increase, but industrialThe gross product coefficient of category products decreased due to the climb of the factory yield rate; the overall business slightly shifted due to the sluggish smartphone displacement in the first half of the communication category, but due to the company’s market share expansion, it increased by 10% in the second quarter; computer and storageAs for products, due to 南京龙凤网 the trade friction between China and the United States and changes in the structure of customer orders, the range of revenue changes has decreased.

Expenses: The management expenses have increased rapidly, and the sustainable growth of last year’s level of the company’s 2019H1 management expenses will be gradually increased by 77.

7%, mainly due to the company’s performance bonus in the first half of the year, expansion of real estate lines in Mexico / Taiwan / Poland, new lease plans increase depreciation costs, upgrade and purchase system software, and increase project-related labor costs.

The increase in research and development expenses was mainly due to the increase in investment in research and development of new products such as SiP and industrial products in the first half of the year.

In the first half of the year, the company’s expense growth rate, we believe that the company will control the pace of expense growth in the second half of the year, reducing the expense ratio will help maintain the level of last year.

Earnings forecast and rating We are optimistic that the company has core competitive advantages, consolidating its leadership position, and embracing the prospects of achieving steady growth in dividends in the SiP and EMS industries. It is expected that the company’s EPS for 2019-2021 will be 0.



91 yuan, corresponding to 20 for PE.



8 times.

With reference to a comparable company’s assessment, we give the company a corresponding 19-year performance PE estimate of 25 times, a reasonable value of 16.

3 yuan / share, maintain “Buy” rating.

Risk warnings: Smart phone sales are lower than expected risks; smart watch sales are lower than expected risks; increased competition in the industry; technical development is less than expected risks; Sino-US trade friction risks.

Lose weight misunderstanding, how much do you know?


Lose weight misunderstanding, how much do you know?

Do the parents often hear that “I will gain weight when eating in the two hours before going to bed at night?”

How many weight loss misunderstandings in life affect our daily life?

How much do you know about the weight loss misunderstanding?

Today, Xiaobian will answer the questions one by one, helping the parents to unveil the veil of losing weight and helping to shape good body and physical quality.

銆€銆€1. Will you gain weight when you eat in two hours before going to bed at night?

銆€銆€In fact, the time to eat is not the key.

What really affects weight is the amount of conversion of food intake and whether or not to exercise regular physical exercise. These are the key to determining whether weight is reduced, increased or maintained.

銆€銆€2, eat more “negative calorie food” to help lose weight?

銆€銆€There is actually no 鈥渘egative calorie food鈥?at all.

The calories burned by the body and the calories burned by the food itself are simply not worth mentioning.

銆€銆€3. Doesn’t the calorie in the drink need to be considered too much?

銆€銆€If you really want to speed up the weight loss, then quit your favorite cola and juice and other drinks, and drink boiled water.

銆€銆€4. Does the cold weather help to lose weight?

銆€銆€In order to maintain body temperature, the body’s metabolic system will accelerate in the winter, and then consume more calories.

But please don’t eat more snacks because you are at home, otherwise the cold weather will become the best weapon for fattening.

銆€銆€5, the weight loss process in the process of weight loss, and ultimately will seriously damage the metabolic system?

銆€銆€If you have failed weight loss many times and have experienced the pain of losing weight and rebounding many times, please don’t give up.

Dieting and losing weight will not damage your metabolic system, but it will not help you lose weight.

銆€銆€6, dieting does help to lose weight?

銆€銆€Maybe dieting seems to be effective, but if you can’t stick to it or change your diet in a short time, it’s likely to cause a rebound and even a very serious illness.

So if the dieting method does not fit your past eating habits completely, then it will be completely defeated.

In addition, there is a more viable and effective way – perhaps you can find a weight loss recipe that you can persevere.

銆€銆€7, fat children need to diet to lose weight?

銆€銆€If your child is only over 5 or 6 kg, there is no need to implement a strict diet and weight loss program.

Parents should try to adjust their expected structure, eat more fruits and vegetables and whole-grain foods, and try to keep children from eating junk food.

In addition, multiple sports are also necessary.

銆€銆€Losing weight is not difficult, but mastering the right method is very important.

Avoid the influence of some wrong ideas, and develop a good habit of science is the true meaning of healthy weight loss.

Lose weight, dance, happy, easy to lose weight


Lose weight, dance, happy, easy to lose weight

Many girls feel that weight loss will affect their health. They have been searching for a way to be healthy and easy to lose weight. Then you can choose to dance. If you want to exercise, you can choose your “dish”.

銆€銆€1, belly dance belly dance is known as a sexy dance, it has a rhythmic twist, cheekbones, buttocks, buttocks, cheekbones, arms and hips posture, it is definitely a very good aerobicmotion.

Belly dance is also a very good dance to exercise the muscles of the buttocks and reduce the pain in the lower back.

In the beginning, we only needed some soft music and wrapped a towel around our hips.

“Relaxly stand in front of a floor mirror, shake your chest, head, arms and cheekbones, trying to use different postures, one after the other,” Ruffman executives, “just need to relax and twist your body!”

“If you have time, you can go to a gym or dance club near your home to sign a name, or buy a DVD to go home and jump.”

銆€銆€2. Can a pole dancing pole dance be a sexy dance?

of course not!

In fact, it is still a power movement that shapes the perfect curve.

銆€銆€The pole dance is divided into two parts: the pole skill and the dance action under the pole.

The skill on the pole can effectively exercise every muscle in the body, especially the arms, thighs, buttocks and waist, which can penetrate the good body shaping effect. The dance action under the pole combines sexy jazz, belly dance, ballet and so on.The dance elements are both soft and passionate and full of enthusiasm.

A woman practicing pole dancing, even if she leaves the steel pipe, will unconsciously merge into a charm.

銆€銆€3, hip hop hip hop, HIP-HOP, street dance, how do you call it all.

銆€銆€If you want to lose weight, it is of course the best choice.


Because it is a good aerobic exercise.

In the process of dancing, you will consume a lot of energy, and the muscles that move to the whole body can improve the heart and lung function while achieving the purpose of weight loss.

銆€銆€Hip-hop’s dance steps are simple, large, and explosive. When combined, they can express complex dances and are relatively easy to learn.

The music it dances with is very dynamic. There is no special style and mode. You can switch music and play it in a hearty manner. While sweating, your mood is also relieved.

銆€銆€4, Ballet Ballet’s movements are very soothing, even if you lack sports cells, don’t worry.

The base can shape the lines on the abdomen and the back of the thigh more than other dances, because the ballet movements have to tighten the lower abdomen and lift the air all the time. The alternating basic leg movements can reduce the excess meat on the thigh and the back side.

銆€銆€Practice ballet can also help you straighten the spine, beautiful posture.

Because only the four physiological flexion of the spine, that is, the cervical vertebra, the thoracic vertebrae, the lumbar vertebrae, and the appendix vertebrae are all in an upright position, it is in line with the standard of ballet training.