[Does urination before sex, make sexual feeling stronger?

[Does urination before sex, make sexual feeling stronger?

Question: Some articles say that men who hold urine properly will have stronger sexual feelings.

Is this method feasible?

Is everyone applicable?

Re: Clinical studies have found that in some older men with poor erectile function, proper urination can improve erectile function.

This may be because urine filling has a certain stimulating effect on the bladder.

However, people with normal erectile function do not recommend or need to urinate deliberately.

And forbearance, maybe a little bit.

The male external genitalia has two roles, one is to excrete urine, and the other is to excrete semen.

Both functions can be controlled by a valve, or the valve can be opened to allow urine to be discharged; or the valve can be closed to allow semen to be discharged.

Usually, this outlet is only responsible for urine discharge, which is inconsistent, but if there is urine in the bladder during sexual excitement, there is a problem of letting one of them be discharged first.

If you endure urinary intercourse, the filled bladder will compress the congested organs around the genitals, which can easily induce prostate disease.

In addition, if you are willing to have sex during sexual life, it will also distract you and affect the quality of sexual life.

Therefore, it is best to evacuate before sex.

Zhaoyan New Medicine (603127): Acquisition of BIOMERE Expands Foreign Safety Evaluation Market

Zhaoyan New Medicine (603127): Acquisition of BIOMERE Expands Foreign Safety Evaluation Market

Event: On May 17, the company announced its intention to acquire US BIOMEDICAL RESEARCHMODELS, INC for US $ 27.28 million.

(Biomere) 100% equity, the target’s main military pre-clinical CRO (mainly safety assessment) and vaccine business, of which the vaccine business will be divested before the transaction.

The core point of view is holding Biomere to advance the internationalization strategy of the security assessment business.

According to reports, Biomere employs about 100 people and has a facility area (animal houses and laboratories) of 8,268 square meters. It has occupied the safety assessment business in the Boston area of the East Bay for more than 20 years, has a mature business model and management structure, and has accumulatedLess deep customer base (including Shire, Novartis, etc.).

The main business of the target is preclinical CRO (including safety assessment, biological analysis and pharmacology, etc.).

In 2018, Biomere cancelled its vaccine business to achieve revenue1.

260,000 yuan, with a net profit of 11 million yuan.

We believe that the company’s holding of Biomere will accelerate the progress of the safety assessment business in the United States and further improve its international layout.

Domestic and foreign platforms have played a synergistic role and opened the ceiling of the safety assessment business.

The acquisition will expand Zhao Yan ‘s popularity in overseas markets, divert orders from the US market, and rapidly expand the local market. In the future, it can expand its capacity in the United States or complete overseas orders directly at domestic bases.

In addition, the non-GLP business outside Biomere can be directly taken over by the relevant departments within the company after the integration to improve the company’s profitability.

The U.S. market is a global high ground for pharmaceutical research and development. The local platform acquired by the company’s mergers and acquisitions is expected to break the constraints of the domestic market (currently, the domestic business accounts for more than 95%), and raise the upper limit of the security assessment business growth.

With the safety assessment business as the main body, build a pre-clinical comprehensive CRO.

The company’s strategy is to build a comprehensive CRO around early clinical and biopharmaceutical CRO / CMO based on the perfection of GLP business with biopharmaceutical as the core.

In terms of safety assessment, the domestic Chongqing base is about to start, and the international market has begun to try; early clinical business, the construction of clinical bases has been smooth, and it has been transformed into the improvement of the CRO team and laboratory.

杭州夜网论坛In our opinion, the company is expected to eventually become a preclinical comprehensive CRO in China.

Financial Forecast and Investment Recommendations We predict that the company will realize net profit attributable to mothers in 2019-2021.

55/2.

10/2.

850,000 yuan, the corresponding EPS is 0.

97/1.

31/1.

78 yuan.

With reference to the comparable company’s estimates, maintain a 56x 2019 P / E ratio and a corresponding target price of 54.

32 yuan, maintaining the “overweight” level.

Risk Warning If the new business development is less than expected, it will adversely affect the company’s growth prospects.

Sofia (002572) 2019 Annual Report Commentary Comment: Q4 Revenue Growth Rise, Expense Control Effect Shows Profit Acceleration

Sofia (002572) 2019 Annual Report Commentary Comment: Q4 Revenue Growth Rise, Expense Control Effect Shows Profit Acceleration
The company announced that the 2019 performance report: 2019 revenue of 77.27 ppm, a five-year increase of 5.7%; realized net profit attributable to mother 10.7 ppm, an increase of 11 in ten years.6%, the net profit of non-attributed mothers 9 was realized.70 ppm, a five-year increase of 5.8%; of which Q4 achieved revenue of 24 in a single quarter.16 ppm, an increase of 9 in ten years.5%, to achieve net profit attributable to mother 3.50 ppm, an increase of 31 in ten years.0%, realizing deduction of non-returned net profit3.33 ppm, an increase of 33 in ten years.3%. Wardrobe linkage, cabinet business accelerated; expense control and profit stability.In Q4 2019, the company’s revenue increased by 9.5%, compared with the third quarter (+2.4%).We believe that the main reasons are: 1) The company’s gradual advancement and marketing policy improvement have obvious effects. In 2019, the company actively promoted the closet-socket linkage to realize the collaborative management of dealers. We expect that the revenue growth of Simi Cabinet in 2019 will exceed 20%With Q1-3 天津夜网 in 2019 increased by 12.1%); 2) In terms of brand and product, the company re-determines brand positioning and builds cabinet customization experts. The proportion of Kangchun board continues to increase, creating product appeal and increasing customer unit price; 3) In terms of channel management, channel managementManagement adjusted to eight regional centers, marketing decision-making process, and improved marketing efficiency.The company’s perspective on control of sales expenses and management expenses in 2019, the effect of fee control appeared, the net profit attributable to mothers increased in the fourth quarter of 20192.4 points to 14.5%. During the Spring Festival, online channel drainage was carried out in advance to reserve orders for the first half of the year; the national base was perfected to supplement the 淡水桑拿网 production capacity in Hubei.  In 2019, the company’s online drainage orders accounted for 25%. During the Spring Festival, the company actively launched online promotions to grasp online traffic.Initiate online drainage in advance to hedge against downward pressure on offline traffic caused by the new coronavirus-infected pneumonia epidemic.The company’s five major bases across the country have a well-organized layout, which can hedge the impact of shutdowns and late resumption of individual bases. Marketing shortcomings were initially made up, and the dealer system was consolidated to maintain buying!Since 2018, it has continued to open stores high, and the strength of overlapping dealers is outstanding; multiple categories, one city, and one business are conducive to bringing single diversions between categories and increasing customer unit prices.Leader adjustments, new heads of marketing in place, marketing policies and dealer management implementation in place.In the medium and long-term perspective, informatization and flexible factories create barriers to cost advantages, and the dealer system is more stable, highlighting long-term growth value.Due to the gradual transition of the company’s management, and the effect gradually emerged, we raised the company’s net profit profit forecast to return to mother to 2019-2021.7 billion, 11.98 ppm and 13.1.8 billion (was 10).1.9 billion, 11.77 ppm and 13.4.9 billion), currently sustainable (19.69 yuan) corresponding to 2019-2021 PE is 17 times, 15 times and 14 times, keep buying!

[Effects and Functions of Oolong Tea]_Oolong Tea_Benefits_May

[Effects and Functions of Oolong Tea]_Oolong Tea_Benefits_May

Tea drinking is a health culture. Many people like to drink tea, and oolong tea is a common tea in life.

The efficacy and role of oolong tea on the human body is also very important.

For women, oolong tea also has the effect of weight loss. Drinking a cup of oolong tea before a meal is more effective.

1.

Use oolong tea to lose weight, drink a cup before and after meals.

It is best to drink hot tea without sugar.

Also, do not drink immediately after a meal, it is more accurate every 1 hour or so.

Drinking tea should also adapt to your physical fitness. If you feel uncomfortable after drinking tea, such as stomach pain or sleeplessness, it is best to stop.

When making tea, the water temperature should be controlled at about 80 ° C-90 ° C; the brewed tea should be drunk within 30-60 minutes, otherwise the nutrients in the tea will be oxidized.

2.

In addition to a cup of tea after meals, the oolong tea has the effect of preventing fractures.

The reason for the formation of tiny teeth is that bacteria invade the tooth tissue, and the enzymes that cause the teeth are generated inside the tissue. This enzyme decomposes the sugar contained in food and produces substances that corrode the teeth.

This substance that can erode the teeth and bacteria attach to the teeth to form tartar, and after accumulation, dental caries will occur.

3.

Scientific evidence shows that black oolong tea can inhibit the absorption of 20% of neutral adults, and the effect is amazing.

Those who have drunk black oolong tea have a smaller amount of excreted urine than those who have not drunk oolong tea.

Therefore, black oolong tea not only inhibits the absorption of adults, but also helps to double replace oil in the body, and has a magical double detoxification effect.

Black oolong tea combines the production methods of green tea and black tea. Its quality is between green tea and black tea.

Qisheng Technology (603610) IPO offline inquiry strategy

Qisheng Technology (603610) IPO offline inquiry strategy
On October 11, 2019, Qisheng Technology started offline inquiry. Qisheng Technology has no old stock transfer.According to the prospectus disclosed in the prospectus, the expected raised capital, issuance costs and the number of issuances, the issue price of Kirsun Technology is estimated to be 44.66 yuan, corresponding to a price-earnings ratio of 22.99 times, lower than the one-month average price-earnings ratio of 23 in the furniture manufacturing industry.89 times, 23 times below the 南京桑拿网 red line of price-earnings ratio.Based on the two trading days before the start of the initial inquiry of this issuance (ie October 9, 2019, T-6 days (inclusive)) as the base date, the securities established through public offerings that participated in the initial inquiry of this issueInvestment funds, basic endowment insurance funds, social security funds managed by social security fund investment managers managed by the Shanghai Stock Exchange non-restricted A shares and non-restricted depositary trusts held 20 trading days (including the reference date)The average daily market value of the voucher should be more than 10 million yuan (inclusive).Other offline investors and participants under their management who participated in the initial inquiry of the issuance of non-restricted A shares and non-restricted depositary trusts in the Shanghai Stock Exchange held 20 trading days (including the reference date) before the benchmark dateThe average daily market value of the voucher should be more than 60 million yuan (inclusive). Taking into account the initial number of offline issuances and the estimated situation of the issuer in this preliminary inquiry stage, the sponsor (the lead underwriter) sets the minimum number of shares to be placed by the offline investors designated by the investor as 500,000 shares, and the number of proposed purchasesThe minimum unit of change is set to 100,000 shares, that is, the portion of the proposed subscription object designated by offline investors that exceeds 500,000 shares must be an integer multiple of 100,000 shares. The number of subscriptions for each placement object must not exceed 1.3 million shares.

Asahi shares (603305): Performance continues to be under pressure and the report exceeds expectations

Asahi shares (603305): Performance continues to be 杭州桑拿网 under pressure and the report exceeds expectations

Event: The company announced its 2019 interim results, and realized operating income from January to June5.

0 ppm, a 10-year increase of 2.

2%; net profit attributable to mother 8478.

50,000 yuan, 36 years ago.

1%.

In the first half of the year, the industry was sluggish, and the company’s performance was weak. Company Q2 achieved operating income2.

5 ‰, a ten-year average of 9.

5%; net profit attributable to mother 4692.

30,000 yuan, 39 years ago.

9%.

The company’s performance continued to be under pressure, initially: 1) The overall production and sales of the automotive industry operated at a low level in the first half of the year. Later, it was expected that the market ‘s consumption momentum was insufficient, and downstream demand was sluggish.As a result of the Sino-US trade war, some of Tesla’s products have been slightly reduced in price.

Depreciation growth, gross profit margin company H1 gross profit margin 32.

9%, a decrease of 6 per year.

8pct, the reasons are: 1) The depreciation of the factory converted into solid at the end of last year began to be reflected this year, and a total of 3751 was depreciated in 1H19.

70,000 yuan, an increase of 1062 over the same period last year.

50,000 yuan, affecting a gross profit margin of about 2.

1pct; 2) Changes in product structure, suspension of Model S / X low-profile models caused a decline in the share of high gross margin products.

Expense rate for company H1 is 8.

7%, an increase of 4 per year.

7pct, of which the selling expense ratio is 1.

8% (decade +0.

2 pct), mainly due to the increase in freight and customs fees;

5% (more than twice.

1 pct), mainly due to the increase in staff salaries; financial expense ratio 1.

5% (more than twice.

4pct), mainly due to accrued interest rates on convertible bonds.

We closely track the new demand of Tesla’s Shanghai plant and increase the growth of new domestic passenger transportation. We believe that the company will achieve performance growth by capturing the value-added demand of Tesla’s Shanghai plant and opening other new customers.

At present, the company has carried out preliminary cooperation with some new energy automobile parts of Tesla Shanghai; the company’s new passenger transportation has expanded smoothly, and has obtained the project fixed point of the new energy reducer object of GAC Group.

Profit forecast and investment advice The company is one of Tesla’s core suppliers in China. Tesla 1H19 contributed about 52 to the company’s revenue.

1%, the industry downturn and the Sino-U.S. Trade war put pressure on the company’s short-term performance. In the medium and long term, Tesla’s growth dividend is expected to support the company’s performance growth.
In 2021, the EPS will be 0.

52 yuan, 0.

60 yuan, 0.

67 yuan, corresponding to 45 for PE.

3 times, 39.

3 times, 34.

9 times.

Maintain the company’s “overweight” rating.
Risk warning: Tesla’s sales are lower than expected, product prices have fallen, and Sino-US friction has escalated.

Marubeni (603983): Industry Dividend Drives Domestic Product Leaders in Segmented Industries to usher in a New Era of Development

Marubeni (603983): Industry Dividend Drives Domestic Product Leaders in Segmented Industries to usher in a New Era of Development

Equity concentration, long-term performance growth is stable.

The company’s founder, Sun Huaiqing, has nearly 25 years of experience in the cosmetics industry. He founded the Marubei brand in 2000.

The founder family currently holds 80 shares.

8%.

Company for 11 years?
In 18 years, the compound growth rate of revenue and profit was about 14%, and the performance growth was stable.

Online development, aging, high-end, and social media have jointly promoted the growth of the cosmetics industry; domestic brands of skin care products are expected to gradually overtake corners.

(1) Through the development of online channels, the aging of consumers, the high-end consumption and the promotion of new marketing methods have accelerated the growth of the cosmetics industry in 17 years, and the industry scale in 18 years12.

3% exceeded 400 billion.

(2) Conventional cosmetics brands can sustain online channel growth and new marketing 杭州夜网论坛 methods, and are expected to gradually achieve cornering overtaking in the skincare category.

At present, Chinese brands have been included in the top ten market share of skin care brands.

(3) We believe that the continuous high-speed growth trend of these cosmetics industries is expected to continue to develop, which is conducive to the long-term development of cosmetics brands; however, the continuous high-end and the continuous penetration of overseas brands through online and low-tier cities, overseas brands will continue.Forming pressure on domestic brands, the high-end and social media marketing operations of Chinese brands themselves will become the key to competition.

Marubeni’s core competitiveness: balanced development of all channels, strong category advantages, outstanding marketing features.

We believe that Marumi’s core advantages include: (1) balanced 北京夜网 growth of all channels, while maintaining rapid growth online, the company’s department store, beauty salon channel channel upgrades and new product launches have all achieved high growth.

(2) On the strong category of eye creams, while the company’s eye creams continue to grow at a high speed, their pricing has opened up the difference from internal revenue, showing a certain brand premium.

At the same time, the company continued to launch high-end brand Marubi Tokyo and continued to build its own brand height.

(3) In terms of marketing and publicity, the company aims to target its own main brand with an intellectual and elegant customer group. The characteristics are mainly shooting artistic advertisements, with prominent features and outstanding results.

At present, the company is also comprehensively transforming social media marketing on talent and organizational structure.

High net interest rate and high turnover have driven the company’s ROE to lead the industry.

(1) In terms of net profit margin, the gross profit margin and product positioning of the eye cream allowed by the main product are relatively higher. Marubeni’s gross profit margin has advantages over its peers.

At the same time, Marumei has lowered its sales expense ratio and management expense ratio slightly. The company’s overall net profit ratio reached 26% in 18 years, which is clearly leading.

(2) In terms of turnover rate, the company’s inventory is well controlled, and suppliers are required to pay for goods before the goods are received, and accounts receivable is disposed of. The overall turnover is healthy.

Therefore, the company has maintained a high ROE level.

Profit forecast and investment recommendations: We believe that under the trend of aging and high-end benefits, the cosmetics industry is expected to continue to achieve a relatively high growth rate in the medium and long term.

As one of the domestic leading brands, Marubeni Co., Ltd. already has an alternative market segmentation in the segmentation field.

We expect company 19?
21-year return to mother’s net profit4.

8 billion / 5.

8 billion / 6.

900 million, an increase of 16% / 21% / 18%, corresponding to the current valuation of 51/42 / 36X.

Taking into account the rapid development of the entire industry and the market segment replaced by Marubeni, it was first covered and given an “overweight” rating.

Risk Warning: Retail environment fluctuates; cosmetics demand growth is slower than expected; market competition intensifies

[How to make soybean curd?

]_ Practice Daquan _ production method

[How to make soybean curd?
]_ Practice Daquan _ production method

Soy rot is a very delicious ingredient. In our diet, soy rot is absolutely indispensable because tofu is completely delicious and has high nutritional value. It is suitable for children, and it is almost pure and non-polluting.

And delicious soy rot can be made independently at home with just a few simple steps.

In addition, in order to make delicious soybean rot, the production staff must have a certain level of basic cooking skills. Let ‘s take a look at how to make soybean rot, and interested people can learn about it.

1.

Raw material processing.

Take 5 kg of soybeans, remove the shell and sieve, wash and put them in a water tank for soaking, and soak in winter for 4?
5 hours, summer 2.

5?
3 hours.

The soaking time must be well controlled, not too long, otherwise the pulp will be lost and tofu will not be made.

250 grams of raw red gypsum (20?
30g) Put it into the fire for roasting. This is a key process. The degree of roasting of the gypsum must be grasped.

Gypsum burns too much and is not easy to use; if it is too cooked, it will not make tofu, soy milk or smelly chicken feces.

2.

Grinded bean paste.

After soaking the soybeans, remove them, grind them at a rate of 6 kg of water per kg of soybeans, fill the grated slurry with a bag (made from tofu cloth), squeeze the bag tightly, and squeeze the milk out.

After soy milk is squeezed out, you may open the bag, add 3 kg of water, mix well, and continue to squeeze the milk.

Generally 10 kg of soybeans yield 15 kg of dregs and 60 kg of soy milk.

When squeezing, do not allow tofu residue to mix into the soy milk.

3.

Boil the pulp.

Pour the squeezed raw pulp into a pot and boil, without covering the lid, skim the surface foam while cooking.

The fire should be large, but not too strong to prevent the milk from overflowing after boiling.

Soy milk is cooked to a temperature of 90?
110 ° C is sufficient.

Insufficient temperature or too long time will affect the quality of soybean milk.

Grind the burnt gypsum into powder and use a bowl of water (about 0.

5 kg) into a gypsum slurry, pour into the soybean milk just scooped out of the pot, gently stir with a spoon, and after a few minutes, the soybean milk coagulates into a tofu flower.

4.

Water tofu.

Within about 15 minutes, the tofu flower is coagulated with a spoon and gently poured into a wooden tub (or other container) that has been covered with cloth.
In 20 minutes, serve tofu.

5,

Dried tofu.

Put the tofu into a wooden basin, cover it with a cloth, cover it with wooden boards, pile up stones, and press down the water to make dried tofu.

Generally 10 kg of soybeans can make 25 kg of dried tofu.

Hangyang (002430): Performance exceeded expectations; gas business’s medium- and long-term growth logic remains unchanged

Hangyang (002430): Performance exceeded expectations; gas business’s medium- and long-term growth logic remains unchanged

Brief evaluation of the company’s revenue in the first three 武汉夜网论坛 quarters of 59.

90,000 yuan, an increase of 0 in ten years.

32%; net profit attributable to mother 5.

32 ‰, down by 1 per year.

47%.

The company achieved revenue in the third quarter 19.

1 ppm, a decrease of 16 per year.

2%; net profit attributable to mother 1.

33 trillion, down 34 a year.

2%.

The company’s performance was lower than expected, preliminary: 1) the retail gas price fell sharply at the same time; 2) judged that the equipment business had internal conversion.

We believe that the logic of the company’s long-term growth has changed, the gas business has re-established the conversion logic of “price to volume”, and the conversion gas business has “expanded projects + structural adjustments”, and the company will gradually come out of the downturn in performance.

The business analysis single-quarter third-quarter performance fell by 34%, exceeding expectations. The simultaneous substantial decline in retail gas prices was the main factor. 1) Revenue, and the gradual decrease in profits meant that retail gas prices also fell sharply at the same time.

Taking Shandong Hangyang as an example, the price of liquid oxygen in the third quarter dropped by about 60% -70% over the same period, which will directly affect revenue and profits.

We estimate that when retail gas prices fall by 60%, overall gas revenues fall by 14%.

We judge that there may be some internal reorganization of the equipment business in the third quarter, mainly due to some internal equipment transaction orders generated by the three new gas projects in the first half of the year, which affected the quarterly revenue recognition.

Retail gas prices have reached the bottom, and the gas business has a logical conversion from “price to volume” with long-term growth potential. 1) Retail gas prices have reached the bottom of history. Taking liquid oxygen as an example, the price in the third quarter of some regions was 400-500 yuan./ Ton, which is close to the bottom of history. The gas price dividend has disappeared since 2016. The certainty of the gas business has changed from price to volume. The expansion of gas projects and the improvement of downstream structures will become the core driving force. The long-term growth trend remains unchanged.

2) The company’s gas business is at the point of “expanding the project, adjusting the structure, and releasing performance”.

In the first three quarters, the company’s three gas projects have successively landed and entered the field of semiconductor gas supply; about half of the projects will enter the depreciation tail gas continuously by 2020, and profits are expected to usher in release.

We believe that the company’s third-quarter performance has initially reached its bottom, and it is expected to return to a positive growth rate of 20% in 2020. Based on the above analysis, we believe that the change in the third-quarter performance is due to the decline in gas prices, the small volume of gas projects, and the addition of some equipment.Internal correction of income expectations.

In the future, the conversion gas project will be put into production and the gas price will affect the company’s performance. The 南宁桑拿 company’s performance is expected to return to a positive growth rate of about 20%.

Earnings adjustment and investment recommendations Due to the large decline in gas prices in the third quarter and the internal restructuring of the equipment business is expected, we lower the company’s profit forecast and expect the net profit attributable to the parent to be 7 in 2019-2020.

5/9.

1/11.

2 trillion, cut 14% / 14% / 3%, cut target price to 15.

3 yuan, maintain “Buy” rating.

Risks suggest that retail gas prices fluctuate too much; refining, coal chemical project implementation is blocked; gas project operations are not smooth

Makihara (002714): Enjoying sustained high pig prices creates growth and high growth

Makihara (002714): Enjoying sustained high pig prices creates growth and high growth

1. The event company released its 2019 annual report.

2. Our analysis and judgment 1) The benefited pig price continued to rise, and the company’s performance was in line with expectations in 2019.

21 ppm, an increase of 51 in ten years.

04%, net profit attributable to mother 61.

140,000 yuan, an increase of 1075 in ten years.

37%, net profit after return to the mother after deduction is 59.

380,000 yuan, an increase of 1186 in ten years.

55%.

The company’s comprehensive gross profit margin is 35.

95, +26 over the same period last year.

13pct.

Period cost accounted for 7.

13% a year -1.

71 points, asset-liability ratio 40.

04%, a year -14.

03pct, the overall cost control is good, the company has overlapping management capabilities.

In Q4 2019, the company achieved operating income of 84.

880,000 yuan, an increase of 101 in ten years.

77%, net profit attributable to mother 47.

27 ppm, an increase 杭州桑拿洗浴会所 of 2680 per year.

56%, net profit after deduction is 45.

880,000 yuan, an annual increase of 3100.

15%.

The substantial increase in the company’s profits stems from upward pig prices.

2) Leading cost control and full production capacity reserve. In 2020, the number of pigs on the market will increase by 2019.

330,000 heads, six years -6.

89%, of which 867 were commercial pigs.

910,000 heads, 154 piglets.

710,000 heads, breeding pigs 2.

710,000 heads.

According to the calculation of net profit, the company’s 19-year average profit was about 618 yuan.

As of December 31, 19, the company’s total fixed assets and construction in progress were 274.

6.3 billion, an increase of 59 from the beginning of the year.

44%; In addition, the company’s productive biological assets were 38.

350,000 yuan, +35 西安耍耍网 from the end of Q3.

18%, +162 over the same period last year.

49%.

The company’s biological assets have grown significantly. The company can breed 1.28 million sows and 720,000 back-up sows. The future production of pigs is guaranteed.According to the company’s announcement, the company plans to sell 17.5-20 million pigs in 2020, an increase of 70 in ten years.

7% to 95.

1%.

3) Leading in breeding and breeding technology, fully benefiting from the industry’s high prosperity. In 19 years, the company developed some southern provinces. It has deployed breeding production in Guangdong, Guangxi, Yunnan and other places. By the end of the year, the number of subsidiaries has reached 138, distributed in 18 provinces.

Considering the industry trend from “pig-adjusting” to “meat-adjusting”, the company started three slaughterhouse projects in Henan Province, with a total design capacity of 6 million heads.

In terms of breeding, the company continued to upgrade and reform pig houses, while using artificial intelligence technology to establish pig disease prediction models, etc., to carry out pig breeding more efficiently.

Against the background of hog prices continuing to be high in 2020, overlapping companies are experiencing high growth, and the company’s performance has maintained a high growth trend.

3.

Investment suggestion The company has industry-leading hog breeding and breeding technology, surpassing excellent cost management and control, and the rapid growth of hog slaughtering, benefiting from continued high pig prices, and the company’s performance has grown significantly.

We expect the company’s EPS to be 2020-2022 respectively.

54/12.

57/10.

72 yuan, corresponding to 9/9/11 times the PE, maintaining the “recommended” level.

4.

Risks indicate that pig prices are not up to expectations, disease risk, and policy risks.