The epidemic dragged down the results Guilin Tourism net loss exceeded 60 million yuan in the first quarter

The epidemic dragged down the results Guilin Tourism net loss exceeded 60 million yuan in the first quarter
On April 14, Guilin Tourism (000978) released the first quarter 2020 performance forecast.The data shows that the average reported value of Guilin Tourism is about 67.5 million yuan, which was replaced by 194 in the same period last year.690,000 yuan; basic earnings are about 0.187 yuan, expected 0 in the same period last year.005 yuan.For the reasons for the decline in performance, Guilin Tourism said that due to the impact of the new coronary pneumonia epidemic, the company’s tourist reception decreased by about 64% in the first quarter of 2020, and its operating income decreased by about 76%; at the same time, the company’s investment income exceeded the reduction of about 17 million yuan.Guilin Tourism mentioned that in the first quarter of 2020, the company gradually received a total of 599 government subsidies.890,000 yuan, the above-mentioned government subsidies belong to non-recurring gains and losses.Specifically, on April 7, the company disclosed that it received 5 million yuan of special funds for the development of Guangxi’s service industry in 2020 in the first quarter of 2020; and received a total of 49 stable posts.890,000 yuan; received a total of 500,000 yuan in steady growth enterprise awards.On the evening of March 25, the Air Force announced Guilin Tourism’s 2019 financial report.Data show that the company increased revenue last year without increasing profits, achieving operating income6.0.6 billion, up by 5 every year.77%; net profit realized 5501.86 per month, at least 31 per year.57%.In the 2019 financial report, Guilin Tourism disclosed that due to the outbreak of the new coronary pneumonia epidemic in the first quarter of 2020, the company’s receptions in 2020, operating income, and net profit attributable to the company’s shareholders have declined from 2019.After the end of the outbreak, the company will take advantage of the favorable opportunity for the recovery of the tourism industry, take measures to strengthen market promotion, strictly control costs and expenses, and promote favorable policy support to minimize the adverse impact of the outbreak on the company.Read more: Are all the disasters caused by rain?Guilin’s tourism revenue increase but no profit increase bet on whether performing arts can break the sauna, Ye Wang Zhang Zeyan editor Zhao Ze proofreading Li Ming

[Encyclopedia of Juicing Juice]_ making method _ how to make

[Encyclopedia of Juicing Juice]_ making method _ how to make

In the summer, lotus root, lotus flower, lotus flower and lotus leaf all exist at that time, and they are also the material for refreshing the summer and refreshing food.

Lotus root and cucumber are actually very magical. They can be eaten raw or cast different flavors. Lotus root tastes very crispy and tender with a touch of sweetness.

But at the same time, the lotus root can also be squeezed into juice for consumption. The juice is more absorbed by the human body, and its methods are also various.

First, lotus root juice prepared ingredients: lotus root 1 section; brown sugar amount; 7 cored red dates; a handful of wolfberry; 1500cc water; 6-7 peeled ginger slices.

Lotus root peeled and cut into pieces, pitted red dates, peeled ginger slices and fermentation, use a conditioning machine to make mud, put it in a soup pot and boil over low heat (avoid iron pot, the soup will turn black).

Stir as you cook to avoid sticky coriander sauce from scorching at the bottom of the pot, and avoid boiling out after boiling.

Turn off the boil, add brown sugar and wolfberry, and you’re done.

2. Pear juice ingredients: one pear, one piece of coriander, 100ml of purified water, one tablespoon of honey.

Peel and core the pears and cut into small pieces.

.
Peel and cut into small pieces (the action should be fast when processing the salamander, otherwise the salamander will become black, or cut into the water dripped with white vinegar, which can effectively prevent the hair from becoming dark)

Put the processed pears and corianders into a juicer, pour 100ml of purified water (the water is not too dry, it is difficult to beat), and beat fine 3.

Whisk the pear juice and filter with gauze or sieve.

Third, honey lotus root juice materials: 300 grams of lotus root, 2 tablespoons of honey, 300 grams of cold water.

Practice: 1. Cut lotus root into pieces.

2. Put lotus root, honey and cold water into the wall breaker.

3. Press the juice button for about 2 minutes to stop working, then pour it out at any time.

Fourth, wolfberry citron juice ingredients: lotus root 1 section, a few wolfberry.

Method: 1. Wash lotus root clean, cut into small cubes, add water to boil, about 15-20 minutes; 2. Put wolfberry into lotus root soup 5 minutes in advance;Stir and filter, pour out lotus root juice.

4, the lotus root residue filtered out, add some flour, sprinkle some salt, you can fry the small cakes.

V. Papaya lotus root corn juice material: 4 cups of sweet corn kernels, 1/2 of fresh papaya (about 150g), 1/2 of fresh lotus root (about 100g), 1/4 cup of rock sugar, 800ml of waterPeel and remove seeds. Peel the fresh lotus root and cut into small pieces. Add sweet corn kernels and rock sugar into the soymilk net cover. Add water. Start the switch. Crush and cook until it is thick.

2. After hearing the power-off prompt tone, pour out the papaya lotus root corn juice.

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[Homemade practice of egg and green onion pancake]_How to_How to do

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撲 钁 撲 钁 Identify and repair the shoulders and shoulders forging and dying out of the dying out of the dying out of the knitting and the editing of the sorrows and sorrows and squeezes the slenderness of the plate.效悎鐢ㄦ潵鍋氭棭椁愬悆锛屽湪鎼厤涓€纰楄眴娴嗘垨鑰呮槸涓€纰楃儹姹わ紝浼氭劅瑙夊埌椋熺墿鐨勯姘旂灛闂村湪绌烘皵涓讥婕€傞浮铔嬭懕娌归ゼ鐨勫仛娉曚篃姣旇緝绠€鍗曪紝鍒朵綔鐔熺殑楦¤泲钁辨补楗艰〃闈㈤噾榛勮浜猴紝楦¤泲鍜岃懕鐨勯姘旀贩鍚堝湪涓€璧凤紝鍚冨悗璁╀汉鎰熻鍞囬娇鐣欓銆傚仛娉曚竴锛氬揩閫熼浮铔嬭懕娌归ゼ鐨勫仛娉曢鏉愶細闈㈢矇銆侀浮铔嬨€佺洂銆佸紑姘淬€佽懕鍒朵綔姝ラ锛氬噯澶囬鏉愶紝楦¤泲涓€涓紝钁卞皯璁革紝闈㈢矇4鍕猴紝鏄偅绉嶆堡鍕哄ぇ灏忋€傜洂寮€姘村€掑叆闈㈢矇鎼呮媽涓嬨€傛斁涓浮铔嬶紝缁х画鎼呮媽銆傞浮铔嬫悈鎷屽畬鎴愩€傛斁鍏ヨ懕銆傛悈鎷岃懕娣峰悎鎴愪竴浣撱€傚姞鍏ラ鐢ㄦ补銆傜儹閿呫€傚紑濮嬫斁鍏ラ潰绯婏紝鐓庤懕娌归ゼ銆傜炕闈㈢厧楗硷紝鐒跺悗灏卞畬鎴愪簡銆傚仛娉曚簩锛氬甯搁浮铔嬭懕娌归ゼ鐨勫仛娉曢鏉愶細闈㈢矇銆侀浮铔嬨€佽懕銆人 洂 鍒 朵 綔 姝 ラ  Ad?.绉伴噺鍑嗗濂芥墍鏈夌殑椋熸潗銆傚彇1/3鐨勯潰绮夊姞鍏ュ紑寮€姘达紝绋嶅姞鎼呮媽鍧囧寑鏅惧噳銆傚墿涓嬬殑闈㈢矇涓姞鍏ユ墦鏁g殑楦¤泲锛屽お骞茬殑璇濆啀鍔犲皯璁告按銆傚悓寮€姘撮潰鍥竴璧风敤鎵嬫弶鍖€銆傞潰妗堜笂鎾掍簺骞茬矇锛屽皢鎷屽寑鐨勯潰绮夛紝鎻夋垚涓€涓〃闈㈠厜婊戜笉绮樼殑闈㈠洟銆傛斁鍏ョ涓寘淇濋矞鑶滐紝閱掍笂20鍒嗛挓宸﹀彸鍚庡彇鍑恒€?.囒 囧 厎 年?浠姐€傦紙鍠滄楗煎皬涓€浜涚殑锛屽彲浠ュ鍒嗗嚑浠斤級銆傞潰妗堜笂鎾掑共绮夛紝鐢ㄦ搥闈㈡潠灏嗕竴涓皬鍓傚瓙鎿€鎴愯杽闈㈤ゼ銆傚敖閲忚钖勪竴浜涖€傞潰楗间笂鎽镐竴灞傛鐗╂补锛屾拻涓婄洂鍜岃懕鑺便€傦紙娌硅澶氫竴浜涳紝鍑烘潵浼氭洿閰ヨ剢锛夈€傜敱楗肩殑2杈瑰悜鍐呭嵎璧枫€傛湁鐐圭被浼间簬鍙や唬鍦f棬鐨勬牱瀛愬惂銆?The village is very busy, the phoenix and the phoenix are stolen, and the standard is very dry. The backpack is stolen and the backpack is stolen. The shovel is sacred.It’s hard to beat it, it’s hard to beat it, it’s hard to do it, it’s hard to do it, it’s hard to do it, it’s hard to do it.潠鎿€鎴愯杽楗笺€傜儹閿呭喎娌癸紝灏忕伀鐓庤嚦涓ら潰閲戦粍銆?

[Dandelion is cool or hot?】 _Attribute_Nutritional Value

銆愯挷鍏嫳鏄噳鎬ц繕鏄儹鎬э紵銆慱灞炴€钀ュ吇浠峰€?
铏界劧骞虫椂浜轰滑鍚冭挷鍏嫳姣旇緝灏戯紝浣嗗ぇ瀹跺杩欑妞嶇墿涓€瀹氶兘涓嶄細闄岀敓锛岃挷鍏嫳寮€鑺辩殑鏃跺€欓潪甯告紓浜紝鍏锋湁寰堥珮鐨勮璧忎环鍊硷紝涓嶄粎濡傛锛岃繖绉嶆鐗╃殑钀ュ吇闈炲父涓板瘜锛岄櫎浜嗗瘜鍚淮鐢熺礌a銆佺淮鐢熺礌c涔嬪锛岃繕鍚湁涓板瘜鐨勭熆鐗╄川鍏冪礌锛岃繖浣垮緱钂插叕鑻卞叿鏈夐潪甯稿箍娉涚殑鑽敤浠峰€硷紝涓嬮潰璇︾粏浠嬬粛钂插叕鑻辩殑灞炴€с€傝挷鍏嫳鏄噳鎬ц繕鏄儹鎬э紵鍑夋€с€傝兘澶熸竻鐑В姣掞紝娑堢棃鏁g粨銆傜敓濮滃彲浠ユ俯鑳冩鍛曪紝鍖栫棸姝㈠挸锛岃В鑽瘨銆傝挷鍏嫳鑼舵湁娓呯儹瑙f瘨锛屾秷鑲挎暎缁擄紝鍒╁翱閫氭穻鐨勫姛鏁堛€傚彲鐢ㄤ簬鐤旂The shoulders are set in the shape of a hook, and you are dressed up. You are in the world, and you are in the world.屾Hoops, stalks, leather, leather, leather, leather, leather, leather, leather, leather, leather, leather, rubber, leather, rubber, leather, rubber, leather, rubber勭淮鐢熺礌鍜岀熆鐗╄川锛屾湁寮哄寲鑲濊剰鐨勪綔鐢紝鑳介檷浣庤儐鍥洪唶銆傚湪娆ф床锛岃挷鍏嫳鏈夆€滃翱搴婅崏鈥濅箣绉帮紝鍙鍏跺埄灏夸綔鐢ㄤ箣寮猴紝閫傚悎鏈夋按鑲挎瘺鐥呯殑浜洪ギ鐢ㄣ€傞櫎姝や箣澶栵紝瀹冧篃鑳借В闄ゆ秷鍖栦笉鑹拰渚跨锛屾竻鍑€琛€娑诧紝淇冭繘姣嶄钩鐨勫垎娉屻€傝挷鍏嫳鐨勯鐢ㄦ柟娉?TOWER Cibeng Wei  Piewei ㄨ Han Ting mustard Yi Yue Lian Ren Luo owned by Xiang Cen extinguish Yi Right- interlinked Qu Ke fermium Cheren Qian Duo Yi Suozhuan sluice Right- mutual spin boast Hu Xia Yi Min adze Anqian arrowhead flower Hu Xia栧暋锛屽悓镞规槗瀵硅韩浣撻€犳垚鎹熷锛?銆佽挷鍏嫳鐨勮姳涔熷叿鏈夊緢濂界殑璋冨吇韬綋鐨勪綔鐢紝涓€鑸儏鍐典笅閮芥槸灏嗚挷鍏嫳鑺辨场閰掞紱3銆佽挷鍏嫳鐨勫彾瀛愪篃鏄彲浠ユ湇鐢紝杩樿兘澶熺洿鎺ョ敓鍚冦€傚彲浠ュ皢钂插叕鑻卞彾瀛愯繘琛屽噳鎷岋紝鍔犲叆閫傞噺鐨勯鐢ㄦ补杩樻湁椋熼唻锛岃繖鏍疯皟鍛冲搧鐨勫懗閬撳拰钂插叕鑻辨湰韬墍甯︽湁鐨勮嫤鍛虫贩鍚堬紝浼氫骇鐢熶竴绉嶉潪甯稿濡欑殑浜彈锛岄€傚悎鍦ㄥ瀛g殑鏃跺€欐湇鐢紝鍏锋湁寮€鑳冧互鍙婁績杩涙秷鍖栫殑鏁堟灉锛?銆 佷 捷 鍷  决 憔 冷 岲 浠 ヨ 湘 峐 児 套 楗  搢  纴 Ningge  镄 咯 闤 璋 雲 咕 鈳 儳What is your father’s relationship with rugged chains and rugged chains?This is the case for the handicapped people who are handicapped by the handicapped. They are in trouble for the disabled. For those who are in trouble, we will try to publish it for you.灭敤锛屼笉杩囦竴娆′笉鑳芥湇鐢ㄨ繃閲忥紝閬垮厤瀵硅韩浣撻€犳垚鎹熷銆傝挷鍏嫳涓師鏈氨鏄甫鏈変竴鑲¤嫤鍛崇殑锛屾湁浜涗汉骞朵笉涔犳儻鏈嶇敤锛屾兂瑕佸噺灏戣繖鑲¤嫤鍛筹紝鍙互灏嗘礂骞插噣涔嬪悗鐨勮挷鍏嫳鏀惧叆寮€姘翠腑鐒竴涓ゅ垎閽燂紝鍘婚櫎涔嬪悗杩涜鐑归オ锛岃兘澶熷緢濂界殑鍑忓皯鑻﹀懗銆

[How long can bread freeze?】 _How to save_How to save

銆愰潰鍖呭喎鍐昏兘淇濆瓨澶氫箙锛熴€慱濡備綍淇濆瓨_鎬庝箞淇濆瓨
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Shandong Gold (600547): The rise of the central price of gold will help the company’s performance release

Shandong Gold (600547): The rise of the central price of gold will help the company’s performance release

Investment Highlights: Event: The company released the 2018 annual report, and the company achieved operating income of 547 in 2018.

88 ppm, a ten-year increase of 7.

34%, achieving net profit attributable to shareholders of the parent company.

76 ‰, a decrease of 23 per year.

01%.

Among them, the company’s fourth quarter revenue increased by 39 each year.

8%, an increase of 55.

9%; but the net profit attributable to mother is downgraded for ten years.

5%, down 32.

9%.

The company’s performance was slightly lower than expected, mainly due to the increase in the company’s financial expenses and the rise in overseas mining costs.

In addition, the company plans to pay a cash dividend of 1 yuan (to 22) to all shareholders for every 10 shares.

1.4 billion shares as the base). At the same time, it is planned to use the capital reserve to increase the share capital to all shareholders to implement an increase of 4 shares for every 10 shares.

The company’s mineral gold is basically in line with expectations, but the taste of gold has changed: the company’s mineral gold in 2018 +9.

57% to 39.

32 tons (expected 39.

86 tons), of which domestic production accounts for 78%, overseas production accounts for 22%, and the company’s gold output accounts for 11% of the country’s total mineral gold supply.

37%, the consolidation of the Belladro Gold Mine in 2018 (8.

95 tons) contributed to the company’s gold production.

In addition, the company’s domestic and overseas gold tastes have changed, and the company’s domestic mine raw taste has risen to 2.

28 grams / ton, but overseas raw ore taste has replaced 0.

85 grams per ton, which means an increase in the cost of overseas mines.

Increasing cost of Veradero has caused the company’s performance to be slightly higher than expected.

The cost of sales of the company’s Belladro gold mine Q4 increased by 24 from the previous month.

8% to 1352 US dollars / British pound, taking into account the average increase in production costs of major global gold companies in 20184.

From 5% to $ 932 per ounce, the production cost of the Belladero gold mine looks high.

The initial cause of the substantial increase in the cost of the Belladro Gold Mine is the decline in ore taste, the increase in depreciation costs and the rise in production costs.

However, the 2019 Belladro Gold Mine’s cost of sales is expected to shift slightly, remaining at $ 1250-1350 per ounce.

Financial expenses increased significantly, and receivable funds increased significantly: the company’s financial expenses increased by 58 in 2018.

南京夜网论坛
3% to 7.

920,000 yuan (including interest expenses and exchange losses of about 2 respectively.

500 million and 1.

Growth of 1.6 billion). The increase in financial expenses is primarily related to the company’s acquisition of a 50% interest in the Belladro gold mine.

In addition, due to the impact of 12% of Argentina’s export tax, the parent company joint venture MAS generates 0 in Argentina.

900 million export tariffs have increased.

At the same time, the company’s gold sales receivable increased by 292% to 5.

7.2 billion, short-term borrowings also appeared due to increased financing3.

6 times to 36.2.3 billion.

Although the company has no obvious bad debt expectations, the related risks still need attention.

The company’s asset-liability ratio has dropped significantly, and there is room for further improvement in financial expenses: the company’s asset-liability ratio in 2018 fell by 11.

24% to 48%, of which companies refused to drop by 13.

5% and assets increase by 6.

7%.

In addition, the company’s long-term borrowings declined by 47 in 2018.

7 trillion and a net cash flow of more than 95% reduction.

5%, which means that the company’s future financial expenses have room for further decline.

The company’s gold resource reserves and output have steadily ranked domestically: the company’s gold metal reserves are 1024.

3 tons (36,130 thousand pounds) and owns 30 domestic gold mining exploration rights, the second largest in the country; the company’s annual output of mineral gold is nearly 40 tons, ranking first in the country.

Considering the company’s 8,000-ton / day expansion of the Sanshan Island Gold Mine, the 6,000-ton expansion of the Jiaojia Gold Mine, the 8,000-ton / day construction of the Xincheng Gold Mine, and the completion of the Linglong Gold Mine Technical Transformation Project, it is expected that the company will reach the end of the 13th Five-Year Plan (2020).Annual output of gold is expected to reach 50 tons.

The company’s target gold output in 2019 is not less than 37.

At 87 tons, the output of the Beladero Gold Mine has a large direct impact on the company’s total gold output.

The rise of the gold price center is conducive to the release of the company’s performance: The gold price center in 2019 has further upward momentum.

The downward pressure on the US dollar on the financial surface and the downward expectation of the long-term U.S. Treasury bond are forming. Fundamental demand for safe-haven gold is gradually being repaired, and the extreme inertia of concentrated gold short positions on the surface of funds is recurring, meaning that the gold price hub will gradually rise in 2019.

We roughly fitted the changes in the gold price to the company’s net profit and found that a 1% change in the gold price produced a 1 for the company’s net profit.

The 68% disturbance shows that the increase in gold price will have substantial support for the release of the company’s performance.

Profit forecast and investment rating: The company is expected to achieve operating income of 573 from 2019 to 2021.

1.5 billion, 583.

4 billion, 595.

200 million; net profit attributable to mothers is 11.

6.3 billion, 19.

1.9 billion and 23.

63 ppm; EPS is 0.

6 yuan, 1 yuan and 1.

24 yuan, corresponding to 52 for PE.

8X, 31.

48X and 25.

43X.

Cover and “recommended” levels for the first time.

Risk reminder: the risk of falling gold prices, the company’s gold output is less than expected risk, inventory risk.

Baiyun Airport (600004): Tax exemption for high-quality assets injected into listed companies continues to grow rapidly

Baiyun Airport (600004): Tax exemption for high-quality assets injected into listed companies continues to grow rapidly

Investment suggestion: At present, the corporate governance structure has begun to improve. The airport group has nurtured listed companies, sending a strong signal to the market. The development vitality of listed companies will be significantly improved.

It is expected that the volume of international flights will increase next year, and the performance will obviously rebound.

Estimated 19-21 profit is 8.

2/11.

7/15.

7 ppm, combined with DCF estimates, given a target price of 24 yuan, raised to “strongly recommended-A” rating.

Asset replacement and heavy division of income will improve the corporate governance structure and enhance the development vitality of listed companies.

1) On November 27, Baiyun Airport issued an asset replacement announcement, stating that 51% of the reintegrated logistics company will be allocated to the airport group, and 100% of the group’s internal airline company will be replaced, as well as the assets of Pullman and AustWith debt.

2) In addition, the listed company and the airport group will re-divide the 西安耍耍网 division of passenger service fees, from 85% of the listed company, 15% of the airport group, to 100% of the listed company.

Listed companies will recognize operating right usage fees at 4% of the logistics company’s annual operating income.

The placement of assets will increase the revenue diversity of listed companies, and the placement of logistics companies will help its breakthrough development progress.

Among them, Hang He Co., Ltd. and AVIC launched a jet fuel business cooperation to increase development coordination; the expansion of the hotel’s asset positioning will enhance Baiyun Airport’s ability to provide passengers with rest and provide multi-level quality services, and increase cash flow.

Logistics companies can take advantage of the airport group’s land and policy resources to build more cargo resources 南京夜网 and unleash their potential.

The airport group no longer has a copyright passenger service fee segment, fully nurtures listed companies, and improves its governance structure.

Passenger service fee is an important part of the company’s aviation revenue and has always been of great significance to the business.

The corresponding amount of 15% passenger service fee for 18 years is 1.

US $ 1.9 billion, all of which is owned by listed companies, will reduce related party transactions and improve governance structure; meanwhile, it will significantly increase the listed companies’ income, profits and cash flow levels.

19 winter and spring time heavy volume, future tax-free growth can be expected.

Baiyun Airport’s winter + spring time of 19 years is generally +6.

8%, of which international growth was 13.

6%, the growth rate in the first-tier airport is obvious; meanwhile, benefiting from the release of T2 capacity, the policy dividend of the Guangdong-Hong Kong-Macao Bay Area, the proportion of international passengers will increase to more than 30% in the future.

Affected by overseas tax-free refunds and the upgrade of fragrance consumption, Baiyun Airport has doubled its tax exemption in the first half of the year.

It is expected to reach 1.9 billion in 19 years and 2.8 billion in 20 years (with 40% growth space).

Risk Warning: Macroeconomic Fluctuations, Major Safety Accidents, Changes in Hanghe’s Performance

Hetai (002402): Smart controller and RF chip two-wheel drive are estimated to be reshaping

Hetai (002402): Smart controller and RF chip two-wheel drive are estimated to be reshaping

We have been following the company for many years. In November 2017, we published the first company in-depth “Smart Controller Industry Leadership, IoT Platform Layout Leading”, and in March 2019, we released the second company in-depth “Intelligent Controllers Promote High Growth, RF Chips.”Military-civilian integration, 5G deployment “, the 2020 strategy report” New Starting Point, Clouds from 5G “released in December 2019 again recommends companies.

We believe that the company’s performance is outstanding from the historical performance perspective, and it has a strategic vision from the perspective of the new business layout.

In this in-depth report, we will further address several issues that investors are mainly concerned about: how big the industry space is, how the company is doing, how the company is developing, and how to forecast.

1. Market space.

The market size of home appliances, power tools, and automotive controllers exceeds USD 400 billion per year. The market size of phased array radar RF chips reaches 10 billion levels per year. New requirements are brought by communications satellites and 5G.

The company’s current revenue is less than 40 trillion, and the ceiling is still high.

2. Corporate unions.

The company has ranked among the leaders in the global intelligent controller industry, with a large customer share leading 武汉夜生活网 domestically.

Subsidiary Kunchang Technology is a top private enterprise in China that undertakes national large-scale equipment model tasks and radio frequency chips. Following the trend of independent innovation, the order is full.

3. Development prospects.

In recent years, the intelligent controllers of home appliances and power tools have continued to increase rapidly, and the share of large customers is solid, and there is room for improvement.

Automotive intelligent controllers achieve qualitative breakthroughs and open up new development space.

RF chip technology has high technical barriers and full orders. After the development of phased array radar, communication satellite and 5G millimeter wave, it is expected to achieve leapfrog development.

4. How to estimate.

According to segment evaluation, the intelligent 杭州夜生活网 controllers are estimated using PEG, and the target market value in 2020 and 2021 is 127.

2.3 billion, 148.

4.9 billion.

RF chip benchmarking Zhuo Zhuowei, given 2020 84.

11 times PE, corresponding to the target city value of 74.

02 trillion, predicting that the target market value in 2021 can exceed 10 billion.

Therefore, we propose to give the company a target market value of 201 in 2020.

25 trillion, target price 22.

05 yuan (20 upside).

51%), giving the company a medium-term target market value of 2.5 million yuan (49% growth space).

70%).

5. Risk warning.

Impact of the epidemic situation; rapid rise in raw material prices; smart controller business development was less than expected; rapid price declines and gross profit margins; changes in distribution to major customers; Kunchang technology orders fell short of expectations; satellite development or the company exceeded expectations