Western World Season 3 Exposure Special Preview, Landing on HBO in 2020

“Western World” Season 3 Exposure Special Preview, Landing on HBO in 2020
Sauna Night News November 9th, the special preview of the third season of the American drama “Western World”.The new technology company is introduced in the notice.Incite inherits advanced computing power and solves more problems related to life technology. It is expected to become a competitor of Delos.The third season of “Western World” consists of Evan Rachel Wood, Tessa Thompson, Thandy Newton, Luke Hemsworth, Aaron Paul, Ed Harris, VinsonT. Casso, Jeffrey White starred, Jonathan Nolan, Lisa Joe Nolan created, J.J. Abrams as one of the producers, landing HBO in 2020.It is reported that the third season of “Western World” will continue the story of the second season, called the story of the robot rebellion and escape from the Western World theme park to the real world.Episode producer Jonathan Nolan once said at this year ‘s Sundance exhibition, “The best part of the third season is that we abandoned the concept of metaphor and treated the story according to the world ‘s original face-and the real worldIt’s a huge bad show.”Western World” is a science fiction series released by HBO in 2016. The original idea originated from the 1973 film of the same name, starring Evan Rachel Wood, Anthony Hopkins and Ed Harris.The story is set in the future world. In a huge high-tech adult theme park, the robot receptionist can enable tourists to indulge in all kinds of desires, but the receptionist has the autonomy and thinking, and they begin to doubt the nature of this world., The robe awakened and rebelled against humanity.The first season of “Western World” premiered on HBO on October 2, 2016, and the second season aired on April 22, 2018.Xu Meilin, the editor of Sauna Night, proofreads Wei Zhuo

[How do duck kidneys taste delicious?Learn these 3 ways to eat!】 _Family Practice_Production Method

銆愰腑鑲炬€庝箞鐐掑ソ鍚冿紵瀛︿範杩?Sorrowful, sorrowful, stomping, father’s pot
楦偩鍏跺疄灏辨槸楦偒锛岃繖閮ㄥ垎鐨勯腑鑲夎倝璐ㄩ潪甯哥揣瀵嗭紝鍚冭捣鏉ラ潪甯稿潥闊ц€愬毤锛屽苟涓斾竴鐐归兘涓嶆补鑵伙紝鎵€浠ョ敺濂宠€佸皯閮介潪甯稿枩娆㈣繖绉嶄匠鍝侊紝楦偩钀ュ吇闈炲父涓板瘜锛岄櫎浜嗗瘜鍚泲鐧借川涔嬪锛岃繕鍚湁纰虫按鍖栧悎鐗┿€佺淮鐢熺礌銆佺儫閰镐互鍙婂绉嶇熆鐗╄川鍏冪礌What are you talking about? How are you going to do it?涓€銆佺倰楦偒 鏉愭枡鏉愭枡锛氶腑鑲仛娉?銆侀腑鑲劘杩囨按锛屽垏鎴愮墖锛涘ぇ钂溿€佸銆佽懕鍓佺銆?銆侀攨閲屾斁娌圭垎棣欏钁辫挏锛屾斁鍏ラ腑鑲墖鐐掗鍚庯紝鏀惧叆鐢熸娊銆佹枡閰掋€佽儭妞掔矇璋冨懗銆?浜屻€侀潚妞掔倰楦偒 鏉愭枡楦偒锛岄潚妞掞紝榛勯厭锛屽锛岀洂锛屽ぇ钂滐紝鐢熸娊銆傚仛娉?.闈掓娲楀噣鍚庯紝寮勬垚灏忓潡銆傚ぇ钂滃垏鏈鐢ㄣ€?.楦偒娲楀噣鏀惧叆鐢甸キ閿呬腑锛屽姞榛勯厭銆佸鐗囧拰姘寸叜寮€5鍒嗛挓锛岀劧鍚庡垏鏂數婧愮剸1灏Terrible?.鎶婇腑鑲崬鍑烘礂鍑€鍚庡垏鐗囥€?.閿呬腑娌规俯8鍒嗙儹鏃讹紝灏嗛腑鑲€侀潚妞掑拰钂滄湯涓€璧锋斁鍏ラ攨涓ぇ鐏吀鐐掞紝鐒跺悗鏀剧洂銆 佺 鎓 鎶 錶 銀 銀 嫴 镣 Gui 南南 堲 屽  锷 犺 彄 埯 矞 搴 ︼grade 銆?.濡傛灉鍠滄鍚冭蒋鐐圭殑闈掓閭e氨澶氱倰涓€浼氾紝鍙互鏀惧皯璁告按锛岄伩鍏嶇儳鐒︺€?涓夈€佸钁辩垎鐐掗腑鑲剧殑鍋氭硶姝ラ 1銆侀腑鑳椾袱涓幓闄ゅ闈㈢殑娌癸紝娲楀噣銆?銆佹礂鍑€鐨勯腑鑳楋紝浠庝腑闂村垏寮€銆?銆佺炕鍒板垏闈紝鍦ㄤ笂闈㈠垏鍗佸瓧鍒€鑺憋紝鍒囩殑鏃跺€欏垁绋嶅井鍊炬枩銆?Do you want to talk to you about it? How can you justify it? Do you want to do it? Do you want to do it? Do you want to do it?What’s the matter? Do you think it’s a good idea?  Adorable  鍒 囦 笣 銆?銆 侀 攨 樀 娹 娌 倌 纖 嗖 嗛  濮 滀 笣 銆?銆佸ぇ鐏垎鐐掗腑鑳椼€?銆佷竷鍏垎鐔熷悗鍔犲叆涓€鍕虹櫧閱嬪拰鏂欓厭鐑у埗闄ゅ懗銆?銆佸揩鐔熸椂鍔犲叆閫傞噺鐢熸娊鐑с€?0 銆 丹 渶 钖 咤 和 咭 咷 珲 叆 咆 璁 discriminates  缈 荤 値 Tweets Jiang Jianghong Chongkuan?

[How to choose raisins_A kind of raisins is the best]

[How to choose raisins_A kind of raisins is the best]

Raisin is a specially processed food, and its main raw material is familiar to everyone, it is raisin.

Raisins seem to have an addictive feeling when they are eaten, and they can’t stop. Therefore, we must be restrained when we eat. Everyone knows the principle of reciprocity. You must quantify the deliciousness of raisins.

So, how to choose raisins?

First, look at the size.

Some are not as good as possible, nor are they as small as possible. Of course, most people choose the big ones but not the smaller ones.

It depends on whether the size is uniform. Generally, the size of the same batch is almost uniform.

Second, look at the colors.

The color of raisins is determined by the variety of grapes. The main colors are red, yellow, black (black gallon) and green. The colors are different, and the overall taste of raisins is different. You need to choose according to your taste when buying.

Keep in mind that the colors of raisins cannot be exactly the same. If they are exactly the same, then do not buy them.

If the color is too bright, don’t buy it to prevent buying stained raisins.

Third, look at the taste.

Generally speaking, you can taste the raisins. The authentic turpan raisins are very sweet, and they are simply sweet. When you put them in your mouth, they have a sweet and fragrant feeling.

Fourth, look at the feel.

Dry raisins are not sticky when placed in the hands, while raisins are sticky when wet.

Finally, look at the price.

Generally, the price of raisins is at least 20 yuan per pound. In Turpan, the wholesale price is generally around 20 a kilogram.

Some raisins in supermarkets are dried after soaking in alkaline water. Authentic Xinjiang raisins are naturally air-dried or air-dried in a shady room.

[Bayberry bitter cream efficacy and benefits of action]_ inevitable _

[Bayberry bitter cream efficacy and benefits of action]_ inevitable _

Bayberry cream is bitter everyone has heard of a common health care agent, the main raw material is bayberry and bitter gourd, bitter gourd can detoxify, but also a goal expectorant, to lower blood pressure, lipid-lowering effect is good,the main role is that of Yangmei is rich in organic acids, in addition to high vitamin content, but also directly into the body, enhance capillary permeability, so is usually more popular.

Bayberry knowledge Introduction: bayberry Myrica myricaceae is the fruit of an evergreen tree, because the shape of water Yang, taste like plum, bayberry thus named.

Myrica rubra is one of the special fruits in developing countries. It is known as “a first suspect worth a thousand dollars.”

Myrica rubra is bright in color, rich in juice, sweet and sour, and high in nutritional value.

Bayberry Nutritional analysis: 1.

Myrica rubra contains a variety of organic acids, and vitamin C content is also very rich. It can directly participate in the metabolism of glucose and redox processes in the body, enhance the permeability of capillaries, and reduce blood lipids, preventing the vitamins from forming in the body. 2.

Myric acid contained in myrica rubra can appetize and promote hydration, digestion and relieve heat, and has the function of preventing the micro-transformation of sugar in the body to help lose weight; 3.

Bayberry has an inhibitory effect on antibiotics, dysentery bacillus and other bacteria, and has a good effect on curing incurable patients; 4.

Myrica rubra contains vitamins C and B, which has a positive effect on preventing cancer and anticancer; cyanamides and trace oils contained in myrica rubra also have the effect of inhibiting toxins.

Bayberry additional information: 1.

Mouthwash or brush your teeth after eating bayberry to avoid damaging your teeth; 2.

Bayberry has a certain stimulating effect on gastric mucosa, so patients with ulcers should eat it with caution.

Bayberry is suitable for the crowd: the general population can eat ulcer patients with caution, toothache, too much stomach acid, people who get angry should not eat more, diabetes patients should not eat.

Myrica rubra therapeutic effect: Myrica ruby acid, warm temperature, non-toxic, return to the lungs, stomach meridian; have the effects of promoting hydration and quenching thirst, astringent intestines and diarrhea, stomach anesthesia, digestion and diuresis; used for dizziness caused by overwork, systemic musclesJoint pain: Myrica rubra 30?
60 grams, 1 serving each morning and evening.

Myrica rubra food: Myrica rubra is eaten with raw onions and duck.

Tang Dynasty Meng Yue: “Do not eat more bayberry, it can damage teeth and tendons, and avoid eating with raw onions.

[How to make mushroom and egg soup]_Production_Practice

銆愰鑿囬浮铔嬬竟鎬庝箞鍋氥€慱鍒朵綔鏂规硶_鍋氭硶澶у叏
楲 Ti Guigui 殭 播 咭咭 咭咭 咭咭 坭 咬 剬 剱 屽 崽 崜 飜 凜 浠  兘 鐭 ラ ン 鍦 ㄥ 圗 達 欔 欔 欍 溾 麽 鍾 鈥 鈥 淏 麏 鈏 鈥 淏 鈏 鈥 淃栫殑椋熸潗锛岃€屼笖涓嶅悓鐨勯鏉愭惌閰嶅湪涓€璧风殑璇濓紝閭d箞灏卞彲浠ュ寮哄畠鐨勮惀鍏诲姛鏁堬I do n’t know how to do it, I ‘m going to go back to the float, and I ‘m going to go back and forth, and I ‘m going to go back and forth, and I ‘m going to go back and forth, and I ‘m going to go back and forth夎繖浜涘父瑙侀浮铔嬬竟鐨勫仛娉曪紝灏ゅ叾鏄瀹濆疂鏉ヨ鏄瘮杈冨ソ鐨勮緟椋熴€?銆 佌 栌 浠 侀 Floor-bearing 哬 嬬 嬦 啦啦  ソ 镮 勮 栌 浠 倏 鎴 愮  閍 雏 僭 雰 纰 唰 姾 姾 僾 僔 郏 僔 僔 僤俯寮€姘淬€佷竴鐐圭洂鍜屾补鍐嶆悈鍖€锛屾斁鍦ㄧ灞変笂鍗冲彲绛夊緟涓庣背楗竴璧峰嚭閿呬簡锛涘濡堜滑杩樺彲浠ュ仛鍑哄叾浠栫殑铔嬬竟濡傛捣绫宠敩鑿滈浮铔嬬竟銆侀浮铔嬮粍缇广€侀矞濂堕浮铔嬬竟绛夌瓑銆Effectiveness?涓湀鍐呯殑瀹濊礉楦¤泲缇瑰唴鏈€濂戒笉瑕佸姞鐩愶紝娌瑰彲鍔犲嚑婊存垨涓嶅姞銆?You can’t wait for a while, but you’re going to go to the end of the chain, and you’re going to go to the top of the chain, and you will be able to find out how to do it, if you want to use it, you will be able to use it.川锛屼績杩涘疂璐濈殑鐢熼暱鍙戣偛锛屾槬瀛e彲鏄瀛愮敓闀挎椇鐩涚殑瀛h妭锛岃€岄浮铔嬬竟鍑犱箮鏄瘡涓€涓疂瀹濋兘闈炲父鍠滅埍鐨勯鐗╋紝浣嗗崟绾殑楦¤泲缇瑰湪钀ュ吇涓婄浉瀵逛細鍗曚竴涓€浜涳紝鎵€浠ユ垜灏辩爺鍒跺嚭涓€绉嶈敩鑿滈浮铔嬬竟锛屽氨鏄皢涓€浜涢鏉愪笌楦¤泲涓€鍚屾悈鎷岋紝姣斿鑳¤悵鍗溿€佹湪鑰炽€侀潚鑿溿€佽櫨浠佺瓑绛夛紝鍒囨垚纰庢湯涓庨浮铔嬫恫銆佹按娣峰悎锛屼笂閿呰捀8鍒How is it going?銆侀鑿囬浮铔嬬竟鍑嗗鐨勬潗鏂欐湁铏句粊銆侀浮铔嬨€佽倝鏈€侀钁便€侀鑿囨垨鑰呰槕鑿囥€傚皢It ‘s a good idea. It ‘s very difficult to find out what ‘s going on here. It ‘s a lot of time. It ‘s a lot of things.皢鐐掑ソ鐨勯鏉愭斁鍦ㄩ浮铔嬫恫涓悈鎷岋紝鍔犲叆棣欒懕銆佹俯寮€姘淬€佷笂閿呰捀10鍒嗛挓鍗冲彲銆傚How to do it? Do you want to know how to do it? Do you want to know how to do it? Do you know how to do it?濆疂鎵€浠ュ畨鍏ㄥ緢閲嶈銆?銆佷簲褰╅浮铔嬬竟鍑嗗鐨勬潗鏂欐湁瑗跨孩鏌裤€佽儭钀濆崪銆佹湪鑰炽€侀浮鑲夋垨楸艰倝銆侀浮铔嬨€傚厛鏍规嵁瀹濆疂椋熼噺灏嗛浮铔嬬竟钂稿ソ锛岀劧鍚庡湪灏嗚タ绾㈡熆銆佽儭钀濆崪銆佸皬鐧借彍銆佹湪鑰炽€侀浮鑲夋垨楸艰倝鍒囩锛屽湪鏀惧叆灏戦噺鐨勬按鍋氭垚娴撹彍姹わ紝鏈€濂藉皢娴撹彍姹ゆ祰鍒拌捀铔嬩笂鍗冲彲鍋氭垚鑹插僵椴滆壋銆佽惀鍏讳赴瀵岀殑浜斿僵铔嬬竟銆?

[Guide to cumin chicken head]_How to do_How to do

[Guide to cumin chicken head]_How to do_How to do

Some people may see chicken heads when they eat chicken, because in their eyes, chicken heads are a horrible existence. In fact, if chicken heads are made delicious, they can also display a very delicious taste.

Of course, chicken head cannot be made like traditional chicken, otherwise the aroma of the chicken head will not be exerted. You can add a little cumin to the chicken head to make a cumin chicken head. The following article introduces you to natural chicken heads.way of doing.

Accessories: 30 grams of coriander seasoning: 300 grams of cooking wine, 1 grams of salt, 5 grams of MSG, 10 grams of paprika, 15 grams of cumin, 20 grams of light white, 20 grams of ginger, 75 grams of peanut oil

Wash the chicken head and cut into pieces; 2.

2. Wash the green onions and ginger and pat them with a knife, cut into sections and pieces respectively; 3.

Wash the parsley in a bowl and set aside; 4.

4. Put cumin in a clean pot and stir-fry over low heat.

Put cumin and pepper noodles together in a container and add MSG and mix well; 6.

Put the chicken head in a vessel, add cooking wine, salt, and some water, stir well; 7.

Put the onion ginger and pickle it for 20 minutes to remove it; 8.

Heat the frying pan, put the oil to the 60% heat and put the chicken head in the pan and slide away; 9.

10. Wait for the raw material effluent moisture and extract when the oil temperature drops; 10.

11. When the oil temperature rises again, put the allowed meat pieces into the pan and re-fry once; 11.

Add cumin, chili noodles, MSG and mix into a plate. Sprinkle with cilantro when serving.

Cumin Chicken Flavor and Effect: Home-made recipes Process: Fried Cumin Chicken Ingredients: Ingredients: Chicken 300g Ingredients: Parsley 30g Seasoning: 300g cooking wine, 1g salt, 5g MSG, 10g paprikaOf course, 15 grams of scallion, 20 grams of ginger, 20 grams of ginger, 75 grams of peanut oil and cumin chicken: 1.

Wash the chicken and cut into pieces; 2.

2. Wash the green onions and ginger and pat them with a knife, cut into sections and pieces respectively; 3.

Wash the parsley in a bowl and set aside; 4.

4. Put cumin in a clean pot and stir-fry over low heat.

Put cumin and pepper noodles together in a container and add MSG and mix well; 6.

Place the chicken in a vessel, add cooking wine, salt, and a certain amount of water, stir well; 7.

Put the onion ginger and pickle it for 20 minutes to remove it; 8.

Heat the frying pan, put the oil and simmer to 60% heat, and put the chicken pieces in the pan and slide away; 9.

10. Wait for the raw material effluent moisture and extract when the oil temperature drops; 10.

11. When the oil temperature rises again, put the allowed meat pieces into the pan and re-fry once; 11.

Add cumin, chili noodles, MSG and mix into a plate. Sprinkle with cilantro when serving.

Tips for making cumin chicken: This product has a frying process, and about 500 grams of peanut oil needs to be prepared.

Food phase grams of coriander: take tonic and Chinese traditional medicine Atractylodes, danshen, should not take coriander, so as not to reduce the efficacy of tonic.

[How to make puffs with chocolate sauce]_Home made chocolate puffs _How to make puffs with chocolate sauce_How to make puffs with chocolate sauce instead

[How to make puffs with chocolate sauce]_Home made chocolate puffs _How to make puffs with chocolate sauce_How to make puffs with chocolate sauce instead

Nowadays, many people’s bodies are in a sub-health state. In addition to being related to an unhealthy lifestyle, an unreasonable diet is also an important aspect. It can be said that a meaningful diet is an effective way to maintain health. Chocolate sauce instead of foamHibiscus is easy, and people who don’t want to cause health damage due to improper diet can do it at home.

1. Prepare the ingredients and weigh them in advance.

2. Glucose is softened at room temperature and sugar powder is added and mixed well.

3. Sieve into low-gluten flour.

4. Stir until no dry powder.

5, after mixing, put on a plastic wrap and roll into a 12 cm long circle, refrigerate for 1 hour.

6. Next, make puffs, break up the eggs, and sieve the flour.

7. Pour milk, butter, sugar, and salt into the pot at once.

8, the medium heat to low heat.

9. Pour flour in one go.

10, the fastest stirring, a thin film is formed on the bottom of the pot, quickly off the fire.

(In fact, the noodles are hot, stick to the bottom of the pot, and some water has evaporated.) Do not iron them to 60 degrees, add egg liquid in small portions, and pour in some egg liquid after each rotation.

Especially to add a little bit at the end.

12, stir until chopped with a chopsticks to the inverted triangle state, point to the bottom of about 4 cm, and do not place.

13. Put the decoration bag into the round decoration mouth.

14, into the batter, cut the small mouth.

15. Squeeze the baking sheet covered with tarpaulin vertically and evenly, as shown in the figure.

16. Use a small spoon to pat a small sharp corner.

Preheat the oven to 210 degrees.

17, pick and place, cut 0.

20 pieces of 6 cm thick.

18. Cover the puff body.

19, into the penultimate layer of the oven, about 10 to 15 minutes, turn 180 degrees and half an hour to light brown.

20. After cooling down, cut the puffs, squeeze in the whipped cream, add the flesh, sprinkle the chocolate sauce on the surface, and sprinkle with pistachios for decoration.

Did you smell a strong flavor?

The puff puffs with chocolate sauce ingredients are especially tempting when they are ready to be cooked. They are stewed very badly and taste even better. The taste of bibimbap in soup is even more indescribable.

Hikvision (002415): Integrated Material-Integration Platform to Plan IOT

Hikvision (002415): Integrated Material-Integration Platform to Plan IOT

More than just seeing, building a big platform for the integration of things and information in the era of the Internet of Things, maintaining a buy rating. Haikang was established in 2001. It started with security monitoring cards and DVR business.Upgrading to “understand”, the company gradually transformed into a video-centric intelligent IoT solution and big data service provider.

We believe that because video surveillance is a natural Internet of Things system, perception is the means, and application is the soul, the company has completed the intelligent upgrade of hardware in 15-19 years, and the establishment of the AI Cloud architecture has changed from “two pools, one library and fourThe advancement from “platform” to “material information fusion data platform” is expected to show the platform effect in the 5G Internet of Things era and become an ecological grower for multiple downstream applications. We expect the company’s EPS to be 1 in 19-21.

35/1.

67/2.

03 yuan with a target price of 46.

75-50.

09 yuan, maintain BUY rating.

The inflection point of single-quarter revenue growth in the second quarter of 1919 has arrived. The net interest rate in 1Q19-3Q19 continued to improve over the past 18 years. The company ‘s initiative to promote channel destocking has gradually completed under the background of deleveraging.Now that the turning point has been reached, we believe that the company is expected to return to high growth driven by intelligent and IoT applications.

At the same time, the company changed the structure of the seven industry divisions launched in 2009, reorganized and integrated resources, and integrated the internal business into three business groups: PBG / EBG / SMBG, which can better meet customer needs and improve internal operationseffectiveness.

Based on the release of internal synergies, the company’s net profit continued to improve in the first three quarters of 19, and it rose by 4 in 3Q19.
.

97 points.

In the process of intelligent video surveillance, the company’s products have moved from AI center products to AI front-ends. For entry products, we believe that based on the advancement of AI chip computing power and software algorithms, the video surveillance industry has transformed from analog to digital → networked → high-definition → intelligentThe development of the trend can also present stronger consumer electronics and Internet features for civil security.

Hikvision began to deploy deep learning in 13 years, officially established Hikvision Research Institute in 14 years, launched AI center products based on GPU and deep learning technology in 15 years, and launched AI based on GPU / VPU and deep learning technology in 16 years. Front-end and entry products. Based on its own “fluorite” platform in 18 years, it has been focusing on packaging a variety of SaaS common components around application scenarios for customers. It has comprehensively enriched product lines in the AI era and has continuously enhanced product added value.

Haikang comprehensively plans the Internet of Things through the AI Cloud computing architecture + the material information fusion data platform. With the expansion of the Internet of Things, if the massive amount of alternative data generated by various terminals is converged to a cloud computing center for centralized processing, it cannot meet the rapid business developmentThe demand for response is limited to network scale, storage resources, and computing power.

Therefore, after completing various AI hardware layouts, Hikvision proposed an AI cloud computing architecture composed of edge routers, edge domains and cloud centers for IoT applications in 17 years. In 18 years, it strongly unified the software technology architecture, which can be efficient.Quickly responded to the needs of various industries; in 19, it released a data fusion data platform that supports cross-intelligent IoT and information networks.

We believe that in the past 4 years, Haikang has completed the comprehensive layout from hardware, software to system platform, and is expected to fully benefit the all-round rise of the Internet of Things industry in the 5G era.

Platform companies that have fully benefited from the 5G Internet of Things and maintain a BUY rating. We expect the company’s EPS to be 1 in 19-21.

35/1.

67/2.

03 yuan, reference industry average of 25 years.

02 times PE estimation, considering Haikang’s comprehensive layout of the Internet of Things from hardware, software to system platform, we give the company 28-30 times PE for 20 years, with a target price of 46.

75-50.

09 yuan, maintain BUY rating.

Risk warning: internal macro risks; intensified overseas competition; the advancement of intelligent 天津夜网 products is less than expected.

Shaanxi Coal Industry Co., Ltd. (601225) Annual Report 2018 Comments: Stable Performance and Upgrading Expected New Mine to Release Capacity to Promote Growth

Shaanxi Coal Industry Co., Ltd. (601225) Annual Report 2018 Comments: Stable Performance and Upgrading Expected New Mine to Release Capacity to Promote Growth
Investment Highlights Shaanxi Coal released its 2018 annual report: 2018 revenue of 572.2.4 billion yuan (+12 per year.36%), achieving net profit of 109.9.3 billion (five years + 5).20%); basic profit income1.10 yuan, the proposed dividend of RMB 0.33 yuan / share (including tax), the dividend ratio is 29.11%. Prosperous coal production and sales, stability: the company achieved coal production in 20181.0.8 billion tons (佛山桑拿网previously +7.05%), to achieve coal sales 1.43 billion tons (previously +15.84%), of which self-produced coal sales1.05 billion tons, an increase of 797 every year.46 For the first time, trade coal sales were 3757.04 for the first time, increasing by 1157 each year.04 initial.The average purity per ton of coal is 372.96 yuan / ton, up 0 before.94%.In 2018, the company’s coal business income was 549.7.2 billion, accounting for 96 of total revenue.07%. The Xiaobaodang No.1 mine will undergo trial production. The release of production capacity in the future will bring development growth.At the end of 2018, the Xiaobaodang No.1 mine trial production (1500 tons / year capacity, 60% equity), the mine is about to complete the test run inspection receipts in the first half of 2019; the second phase of the mine No. 2 project (capacity of 13武汉夜网论坛00 tons) /(Year, equity accounted for 60%) is planned to be completed in 2019.  After the Xiaobaodang No.1 mine is officially put into production in 2019, it can gradually release its production capacity. The opening of the Menghua Railway is conducive to coal sales to central China’s coal-deficient provinces: Hongliulin, Zhangjiabang, Caragana Pagoda, Xiaobaodang No. 1 and No. 2 (under construction) along the Menghua Railway in MenghuaThe opening of the railway will change the transportation environment and expand new sales areas. Abundant cash flow, large repurchase gradually landed to strengthen investor confidence.The company’s balance of cash and cash equivalents at the end of 2018 was as high as 131.160,000 yuan, an increase of 47 in ten years.25% with plenty of cash.As of March 26, 2019, the company has actually repurchased company shares3.5.0 billion shares, accounting for 3 of the company’s total share capital.05%, the average repurchase price of 8.207 yuan / share. Investment strategy: The company’s production and operation are stable, the construction of new mines is progressing steadily as planned, and the overall operation is in line with expectations.With the gradual release of Xiaobaodang Mine’s production capacity in 2019, the company’s production and operation will be further improved.Based on the company’s core coal assumptions of -3%, -2%, and -1% changes in the next three years, we have adjusted our profit forecast and expect to achieve net profit attributable to mothers 114–2021 respectively.4.3 billion, 121.7.4 billion, 127.59 trillion, corresponding to EPS 1.14 yuan, 1.22 yuan, 1.28 yuan, PE corresponding to the closing price on April 11 were 8 respectively.0X, 7.5X, 7.2x, maintain “Buy” rating.  Risk warning: economic growth stalls, policy expectations risks, coal prices fall sharply, and mine construction progress is less than expected.

China Shipbuilding (600150): Performance continues to slump pending asset consolidation

China Shipbuilding (600150): Performance continues to slump pending asset consolidation

The performance exceeded expectations, but considering the asset restructuring and the merger of the two ships, the company maintained the “Buy” rating and released the third quarter report for 2019, which reported operating income of 163.

470,000 yuan, an increase of 45 years.

98%; net profit attributable to mothers reached 96.32 million yuan, a year-on-year decrease of 68.

90%, performance growth was lower than expected.

The company’s EPS for 2019-2021 is expected to be 0.

16 yuan, 0.

20 yuan, 0.

22 yuan, but taking into account the industry resource integration bonus brought by the North-South ship merger, and the major shareholders continue to promote asset construction to build military and civilian shipbuilding assembly platform, maintain the “Buy” rating.

The performance of the third quarter report was sluggish, and the comprehensive gross profit rate dropped in the first three quarters of 2019, and the company achieved operating income of 163.

470,000 yuan, an increase of 45 years.

98%, the company focused on the main business, clinging to the task objectives, the production task is relatively full; the operating cost is 150.

09 million yuan, an increase of 50 in ten years.

27%; gross profit 13.

38 ppm, an increase of 10 in ten years.

56%, an increase of 1.

2.8 billion.

The company’s comprehensive gross profit margin 8.

18%, compared to 10 in the same period last year.

80%, a decrease of 2.

The number of 62 is mainly due to the continued downturn in the shipbuilding industry, fierce market competition, and the increase in raw material costs.

The period expense ratio decreased, non-recurring gains and losses affected profit performance, and non-recurring profit increased after the first three quarters of 2019, and the company’s period expenses totaled 12.

16 ppm, an increase of 5 in ten years.

34%, an increase of 6,164 million; the expense ratio during the period was 7.

44%, down 2 each year.

87 average values, and operating efficiency has been continuously improved.

In the first three quarters of 2019, the company’s net investment income increased by 8.31 million yuan, compared with the same period last year4.

43 trillion, the first obvious decline was 3 in the same period last year.

Proceeds from disposal of $ 6.7 billion in long-term equity investments.

Asset impairment loss1.

04 billion, down 50 previously.

63%, a decrease of 1.

07 billion.

The company deducted non-returned mother’s net profit to replace 6356.

140,000 yuan, compared with the same period last year3.

07 trillion, there have been major improvements, and the quality of operations has improved.

Civil ship manufacturing leader, planned asset restructuring and injection of warship assets, maintaining “Buy” rating. According to the current operating conditions of the company, the actual revenue growth exceeds the initial assumptions, but the actual gross profit margin decreases the initial assumptions, so the relevant assumptions were adjusted.

We expect the company’s operating revenues to be 211 in 2019-2021.

75/226.38/261.

5.1 billion (173 before adjustment).

32/185.

26/213.

180 thousand 南宁桑拿 yuan), net profit attributable to mothers from 2019 to 2021.

24/2.

70/2.

9 billion (6 before adjustment).

81/8.

66/10.

23 trillion), the company’s BVPS is expected to be 10 in 2019.

99 yuan.

Taking into account the industry resource integration bonus brought by the merger of North and South Ships, and the expectations of major shareholders to continue to promote asset operations to build a military-civilian shipbuilding assembly platform, according to the market average of 2 in 2019.

12 times the estimated average value of PB, which is given to 2 in 2019.

10-2.

The target PB estimate at 14 times corresponds to a target price range of 23.

08-23.

52 yuan, maintain “Buy” rating.

Risk warning: the recovery of the civil ship industry is less than expected; there is still uncertainty as to whether the restructuring plan can be approved.