2017 East Asian Men’s Basketball Championships list of Chinese Olympic Games announced the insider 3 new stars gathered

2017 East Asian Men’s Basketball Championships list of Chinese Olympic Games announced the insider 3 new stars gathered
Hu Jinqiu, Zhu Rongzhen and Qiu Tian will team up with the insider to open the 2017 East Asian Men’s Basketball Championship in Nagano, Japan from June 2 to 7. The official website of the tournament announced the list of 11 players for the Chinese Olympic team.Hu Jinqiu, Zhu Rongzhen and Qiu Tian, all three insiders, were selected. It is worth mentioning that there are already 6 Guangsha players in the list, more than half of them.  The list of 11 Chinese Olympic team announced on the official website of the East Asian Men’s Basketball Championships is: Hu Jinqiu (Guangsha), Zhao Yanhao (Guangsha), Sun Minghui (Guangsha), Wu Xiao (Guangsha), Wu Yujia (Guangsha), Zhao Chiayi (Guangsha), Manjiang (August 1), Tang Jie (Nanjing Military Region), Tarek-Ganiiu (Beijing), Yang Kai (Hunan Yongsheng), Zhu Rongzhen (Shandong).  In this list, Zhejiang Guangsha has more than 6 players, more than half of the team.In addition to Hu Jinqiu included, Qiu Tian from Beijing and Zhu Rongzhen from Shandong were also selected.These three inside players have been playing well in the previous warm-up games. Zhu Rongzhen and Hu Jinqiu have been selected for the new national team list.  The 2017 East Asian Men’s Basketball Championship will be held in Nagano, Japan on June 2-7. This tournament will also serve as a qualifier for the 2017 Asian Men’s Basketball Cup. The top five teams will successfully advance to the Asian Cup finals.The Chinese team will play in the National Olympics men’s basketball team. The opponents in the same group are the Chinese Taipei team and the Hong Kong team.  The East Asian Men’s Basketball Championship was founded in 2005. The Chinese team has played in the national second team or youth team in previous games. It has won the second and third places many times, but it has never won in history.The boys of the Chinese Olympic team in this tournament will strive to hit the best record in history.Further reading: Schedule of the 2017 East Asian Men’s Basketball Championship

[Can loach and eggplant be eaten together]_ 紫 茄 _ 同 吃

銆 愭 軭 勭 呭 揰 勫 瓙 鑳 By the sorrows and sorrows 銆 銆 抱 绱  寗 _ 钖 屽 悆
阒充箣锷熸晥锛屽畠镄勫懗阆扑篃鐗瑰埆椴灭编锛岃€屼笖娉ラ硡涓€鑸兘鏄豢鑹查鍝侊紝鎵€浠ユ繁鍙椾汉浠殑鍠滅埍锛岃€屼笖杩欎篃鏄汉浠父鍚冪殑钄彍锛屼綘灏卞拰锣勫瓙鍦ㄤ竴璧峰悆涔熸槸鍙互镄勶This is the best way to get a good view of the current situation, and the chain is not forgotten. It’s a fortune-telling strategy, and it’s very difficult to find out what’s going on, what’s going on, what’s going on, what’s going on, what’s going on, what’s going on?嶄竴涓嬫偿槌呭拰鑼勫瓙鐨勪笁绉嶅仛娉曘€備竴銆佹墍闇€椋熸潗娉ラ硡600鍏?Gong Meng 瓙 300 鍏?濮滅墖銆佽懕娈点€佺簿鐩愩€佹枡閰掋€佸懗绮俱€佽儭妞掔矇銆佺尓娌瑰悇閫傞噺鍒朵綔鏂规硶1.娉ラ硡瀹版潃鍚庢不鍑€;鑼勫瓙鍘荤毊锛屽垏鎴愭潯銆?.It ‘s very difficult to find out what ‘s going on, what ‘s going on, what ‘s going on, what ‘s going on, what ‘s going on, what ‘s going on, what ‘s going on, what ‘s going on, what ‘s going on?潃鐑瑰叆鏂欓厭锛屾幒鍏ユ竻姘达紝鐑у紑鍚庡€掔爞閿呭唴锛屼互涓伀鐐栬嚦姹よ壊鍙戠櫧鏃讹紝鏀惧叆鑼勬潯锛岀画鐐?5鍒嗛挓锛屾渶鍚庣敤绮剧洂銆佸懗绮俱€佽儭妞掔矇璋冨ソ鍛筹紝鍗虫垚銆備簩銆侀鏉愪富鏂欐偿槌咃細200鍏嬭寗瀛愶細400鍏嬭緟鏂欒杽鑽凤細5鐗囧ぇ钂滃瓙锛氶€傞噺闈掓锛氶€傞噺杈f娌癸細閫傞噺鐢熷锛氫竴Hao Shu Lala1.What is the best way to get rid of the problems in the village and the village? How are you going to get rid of it? 冽 彲 卲 鍒.鑼勫瓙鍒囨粴鍒€鍧楃敤姘存蹈娉★紝娲楀幓纰辨按銆?.What’s wrong with you?.Do you want to make up for it? Do you want to make a difference?.鑼勫瓙鍔犲叆閫傞噺鐩愮倰杞€?.鑼勫瓙鎵掑悜閿呰竟锛屾妸鐓ソ鐨勬偿槌呭€掑叆锛岀叜娌搞€?.鍔犲叆閫傞噺閰辨补锛屽鏋滄堡姹佽緝灏戯紝鍙姞鍏ラ€傞噺寮€姘淬€?.Do you want to go to the top of the mountain?.锷 珲 叆 闱 掓  銆?0.What’s the difference between frustration and frustration?1.鐓哺锛屽氨鍙互鍑洪攨浜嗐€傝繖閬撹彍涓昏鏄鑼勫瓙鍚告敹娉ラ硡鐨勯矞鍛筹紝鎴戜篃姣旇緝鍠滄鍚冭寗瀛愶紝鎵€浠ヨ寗瀛愭斁鐨勬瘮杈冨銆傝緟鏂欑殑澶氬闅忓悰鍠滄锛屼富瑕佹槸绁涜叆銆備笁銆佹墍闇€椋熸潗涓绘枡锛氳寗瀛?00g楸兼偿150g杈呮枡锛氭补閫傞噺銆佺洂閫傞噺銆侀钁遍€傞噺銆佽荆妞掔矇閫傞噺銆佺敓鎶介€傞噺銆佺敓绮夐€傞噺鎿嶄綔姝ラ1.Sorry?Gong gong 瓙 堄 哄 飛 壛 連 黣 撕 銆?.Gong Luo 哙 鍒 卩 囖 勄 倄 倄 倊 夊 哎 逰 倉 僉 烣 撣 撣 鍒 鍒 雒 汤 銆?.What’s the matter?.夛 纴 绮 夛 纴 5.What?。What are you talking about?。蓰 湯 楘 楸 Compensated 銆?.閰垮ソ鐨勮寗瀛愮洅瀛愩€?.What’s the problem? What is the problem? What is the difference between the world and the world? ィ0.What are you looking for?1.Broke marriage?2.Sorry, I haven’t heard anything about it 13.纴 剧 偣 フ  イ 夋 彁 14.鍔犵偣绮炬按鐑у紑锛岃皟鍏ラ浮绮惧嵆鍙嚭閿呫€?

[Can the compressed mask be soaked with pure milk]_fresh milk_how to soak

[Can the compressed mask be soaked with pure milk]_fresh milk_how to soak

For many women who pay attention to skin care, they really like to make some masks at home. Generally, the masks they make are made of natural materials, so they will use compression masks when making masks.

Compressed mask is different from ordinary masks. Compressed masks are small and easy to carry. When using them, let’s talk about whether the compressed masks can be foamed with pure milk.

First, can the compressed mask be soaked with pure milk?

The compressed mask can be directly placed in milk to make a milk mask, which can whiten and moisturize the skin.

Milk is rich in milk meal, vitamins and minerals, has a natural moisturizing effect, and is easily absorbed by the skin, which can prevent skin dryness and eliminate the repair of dry lines.

Not only does milk provide a lot of nutrients to the skin, the enzymes it has also play a calming and soothing role, effectively soothing allergic skin cells.

Milk is used for whitening, but before applying the face, use a hot towel on the cuff for a while to make the pores of the shells open, the effect will be better, but this method of whitening is relatively slowIt is not easy to use whitening quickly.

Half an hour before going to bed with a cup of hot milk can help sleep and replenish calcium and some trace elements. Using a compressed mask to soak the milk and apply it to the face to treat sunburn. Frozen milk can treat our skin that has been sunburned by summer.Because frozen milk contains enzymes, it can reduce swelling, anti-inflammatory, and calm skin.

If the skin of the MMs is accidentally sunburned, you can immediately wash your face with ice milk, soak the milk with mask paper and apply it to your face.

This can effectively alleviate skin pain caused by sunburn.

For white skin, pour the milk into a clean small bowl, then add the appropriate amount of lemon juice, honey, and two tablespoons of vitamin E to the milk. After mixing these materials thoroughly, you can start to apply it on a wooden board.

After about 15 minutes, you can wash it with warm water. After applying, you will feel that your face has become whiter and thinner.

Moisturizing and anti-wrinkle First, prepare three tablespoons of milk carton and three tablespoons of flour, then stir and mix thoroughly. After stirring until it is pasty, you can apply it on your face.

After the mask is completely dry, you can wash it off with warm water.

Remember, this mask can’t be made too alternating. If it is too alternating, it will be harmful to our skin.

[How to make bacon hand tear cabbage]_The common practice of bacon hand tear cabbage _The practice of bacon hand tear cabbage _How to make bacon hand tear cabbage

[How to make bacon hand tear cabbage]_The common practice of bacon hand tear cabbage _The practice of bacon hand tear cabbage _How to make bacon hand tear cabbage

Fan Laikou mouth life, although everyone is pursuing, but the reality is not so good.

So you who live in reality will inevitably need to prepare your own dishes.

And to make a dish, you must have perfect methods and steps.

So, let ‘s learn with me how to tear bacon by hand.

1.

After the oil in the pan is hot, add the sliced bacon slices and stir fry.

Immediately after the burst, turn off the fire and continue to stir fry, because the fire is too hot and the meat is easily burnt and blackened.

After that, add a little old soy sauce and color, add sugar, chicken essence, and sautéed sauce, cook for a while, then add the broth and serve it for the second time.

Restart the oil pan, heat the oil for seven minutes and add peppercorns and garlic cloves 3.

Pour in cabbage and stir fry 4.

The cabbage is slightly soft and half cooked. Add the bacon slices and gravy that were previously fried, and cover the pot for a while.

Pay attention to mastering the time. If the smolder is too long, the cabbage will be rotten 5.

Add the right amount of salt, chicken essence to taste, and finally add dried peppers. There are often small gatherings in the plate life, but have you never performed?

You must be unhappy like this.

Therefore, with the detailed method of tearing cabbage with bacon, you can show your cooking skills and be the most versatile one.

[Homemade practice of soy tofu]_ 酱豆腐 _How to do_How to do

銆愰叡璞嗚厫鐨勫甯稿仛娉曘€慱閰辫眴鑵恄鎬庝箞鍋歘濡備綍鍋?
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[Achyranthes]_Pearl grass_Therapeutic value_Medical value

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[Can pregnant people eat peaches?

】 _Pregnant woman_Can you eat

[Can pregnant people eat peaches?
】 _Pregnant woman_Can you eat

For women, pregnancy is a long process. At different stages of pregnancy, pregnant women will face different risks. If some problems occur again during pregnancy, the harm will occur, so we must take measures to prevent related risks.Some ordinary diets need to be adjusted. Pregnant women must consider comprehensiveness in their diet in advance. Do not picky eaters. Crabs and other things must not be eaten. Can people eat peaches during pregnancy?

Can pregnant people eat peaches?
Peach is a fruit that will be widely marketed in summer. Because of its sweet and juicy taste and cute appearance, it is loved by many people.

In addition, peaches may also have a lot of benefits for people, but for pregnant mothers in a special period, can peaches be eaten?

Let me tell you if someone who is pregnant can eat peaches.

Can pregnant women eat peaches? Pregnant women can eat peaches. The peaches are delicious and juicy, have high nutritional value, and convert protein, trace amounts, meal, crude fiber, calcium, phosphorus, iron, and carotene.

Very suitable for patients with hypokalemia and iron deficiency anemia.

And pregnant women have a great demand for iron, so pregnant women can eat peaches.

The benefits of eating peaches for pregnant women1, peaches contain more iron and pectin, so pregnant women eat peaches for anemia and can prevent constipation.

2, peaches can also lower blood pressure, pregnant women with hypertension, or pregnant women with hypertension and pregnancy can eat peaches, which has a certain effect on lowering blood pressure.

3, relieve edema during pregnancy, peaches are rich in potassium, but they are rich in sodium, which can have a relief effect on edema.

4. For the treatment of lung diseases, peaches are warm fruits with rich nutritional content, and have unique effects on the treatment of lung diseases. Pregnant women with hypoglycemia, lung disease, and exhausted wheezing can eat peaches as auxiliary food therapy.

5, vitamin supplements, peaches contain vitamin B, grains, pregnant women eat peaches can supplement vitamins, but do not eat too much, it is best to peel and eat, so as not to have preservatives on peaches.

Peach has always been loved by people, and since ancient times, someone should have a rich reputation, which is a symbol of longevity.

For pregnant women, peaches are also beneficial and harmless. Pregnant mothers who like to eat peaches can safely enjoy the deliciousness of peaches.

But before eating peaches, you must wash them carefully to avoid pesticide residues.

[Can the crab be heated in a microwave oven]_How to heat_How to heat

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Chief Outlook for 2019: China market has no stall risk is consensus

Chief Outlook for 2019: China market has no stall risk is consensus

Chief Outlook for 2019 | JPMC Zhang Jun: No stall risk in the Chinese market is a consensus. Will surging news reporter Liu Minyu’s A-shares usher in the dawn of 2019?

  Recently, surging news reporters have interviewed a number of industry chief analysts, economists, etc., reviewing the market in 2018 and looking forward to the market in 2019.

Published today is an exclusive interview with Zhang Jun, chief economist of Morgan Stanley Huaxin Securities.

  According to Zhang Jun’s forecast, the GDP growth rate in 2019 will be close to 6.

3%.

  Judging from the “troika” driving GDP, the short-term effects of infrastructure supplementation in the first half of the year will gradually emerge, which will underpin economic growth and can 四川耍耍网 only be used as an expedient measure for stable growth in the short term.

In terms of consumption, the growth of physical consumption will continue to weaken, but service consumption will become the main driving force for consumption growth.

Exports exist. Zhang Jun believes that global economic growth and protectionism will make the contribution rate of net exports negative and become a drag on economic growth.

  Although Zhang Zhang frankly stated that the domestic macro economy is facing downward pressure, the central government ‘s confirmation of the downward pressure is actually a positive signal. Therefore, he is cautious about the overall macro economy and estimates that the macro policy portfolio will be “stable currency, loose credit, Wide finance. ”

  Zhang Jun said that from the perspective of global asset allocation, global assets will present an alternate layout from the United States in 2019. In the process of global capital’s search for certainty, the Chinese market is estimated to be attractive because there is no risk of stalling, plus supplementary stability.So the certainty is strong.

  The following is the full text of an interview with Zhang Jun, chief economist of Morgan Stanley Huaxin Securities, Surging News: 1. Surging News: Both the CPI and PPI data for December 2018 released by the National Bureau of Statistics bulletin, what do you think?

  Zhang Jun: Since the second half of last year, the CPI has seen a significant downward trend in the transition, and the risk of stagflation that the market is worried about has decreased.

Everyone is more worried about the risk of deflation. I think the PPI may change from positive to negative around the second quarter, and CPI may increase and decrease.

Inflation will not be a guide for monetary policy.

The size of the monetary policy space this year, it is expected that there will be interest rate cuts in addition to the RRR cut. The main reasons are twofold. One is the decline in the US dollar index, and the pressure on the RMB exchange rate can also be made up. The other is to gradually reduce the pressure.

  2. Surging news: What is the current downward pressure on the macro economy as a whole?

  Zhang Jun: The downward pressure on the economy is still great.

Since the beginning of the year, we have turned to optimism.

In the second half of last year, the policy side has confirmed the fact of the economic downturn.

In the past, we always talked about “stability in stability”. Last year we began to talk about “change in stability” and then “worries in change.”

Central confirmation is a positive signal.

Difficulties are not the most important, and not avoiding is the most important.

On the policy side, this is a positive sign.

  3. Surging news: In the “troika”, how will investment affect the macroeconomic trend?

  Zhang Jun: In my opinion, the short-term effects of infrastructure supplementation in the first half of the year will gradually emerge, underpinning economic growth.

At present, it is mainly a question of financing. The government is still stable. The effect of infrastructure investment may not be particularly good, and local government financing pressure may be relatively large.

In addition, the marginal effect of the infrastructure itself is attenuated at the same time, so the shortcomings of infrastructure construction can only be used as an expedient measure for stable growth in the short term.

  In the context of the continued decline in profits of industrial enterprises, manufacturing investment is likely to decline at the peak, so the central government may moderately relax the real estate adjustment policy marginally in the second half of the year.

  4. Surging news: What do you think of this year’s real estate market?

  Zhang Jun: The real estate market may be adjusted by the middle of this year.

The first is to look at the point in time, and the second is to look at the intensity of the policy.

It ‘s been a year since the government contracted this round. In fact, first-tier cities are the main ones that do not rise in housing prices. Some of the third-tier and fourth-tier cities are still rising in the middle of last year. Therefore, the effect of this round of change is not particularly obvious. The government is not very willing.Relax too early.

  In the past, we often saw that some local governments first came out to test the central government’s bottom line, and now there have been some cases, but at present, the central government has maintained its policy stance.

When will the central budget change?

It depends on the effect of infrastructure investment.

After the Spring Festival, the construction site will start and infrastructure investment will stabilize. In the first half of the year, the government will definitely hope that infrastructure investment will grow steadily. If it can be stabilized, then I believe the government does not want to rely on real estate to stimulate investment.

At the same time, if the US-China trade talks have good results, they will also boost confidence.

  5, surging news: just in the beginning of 2019, the annual announcement of the RRR cut, is it beyond market expectations?Why is this happening?

  Zhang Jun: The time point for lowering the standard was earlier than expected.

It is believed that the relevant departments have seen the downward pressure on the economy, and the recent data actually have obvious responses. For example, the December PMI was close to expectations, the monthly profit growth of industrial enterprises was negative, and the export data was relatively poor. There is room for further improvement in policy.

The RRR cut is of a replacement nature. Monetary policy has two directions: to stabilize liquidity in the short term, to lengthen short-term growth, and to stimulate investment in fixed assets, especially infrastructure investment.

If we look at the monetary and credit data, supplementary loans are okay, but the proportion of medium and long-term loans is low, which shows that banks’ lending intentions are not very strong, which indicates that the monetary policy intervention mechanism is not smooth, and we hope to improve lending intentions.

  6. Surging news: What will be the macro policy mix in 2019?

  Zhang Jun: I think the domestic macro policy mix will be “stable currency, loose credit, and loose finances.”

Because as I said just now, the problem is that the mechanism of monetary policy itself is not smooth, not that monetary policy itself needs a lot of easing.

At the same time, under the background that the central government’s guidance on fiscal policies needs to be more active, we expect that the budget deficit rate this year, the scale of local government debt issuance and tax and fee reductions will increase, so that “broad fiscal” measures will be actively implemented.

However, in the medium and long term, the pressure of fiscal expenditure will be accompanied by the aging of the population, so there is little room for stimulating economic growth through continued large-scale tax cuts in the future.

  7. Surging news: How do you think investors should invest from the perspective of large asset allocation?

  Zhang Jun: This year is the turning point of the global economy.

The US economic growth rate has fallen. We judge that the Fed raised interest rates twice in the first half of the year and then suspended it.

Last year, global assets returned to the United States, and this year is a replacement.

No market is particularly good, so after capital replacement, it is more looking for certainty. Foreign exchange inflows into A-shares have seen this kind of certainty in the Chinese market.

We expect GDP growth in 2019 to be 6.

3%, no one in the market predicts below 6%, and everyone’s consensus is that there is no stall risk in the Chinese market, and the certainty is high.

And the exchange rate is stable, and the estimates are relatively average.

Therefore, from the perspective of global allocation, we are optimistic about emerging markets, and China’s certainty is very high.

  8, surging news: the global market has experienced a sudden change in the beginning of the year, what does this indicate?

  Zhang Jun: At the end of the global economic recovery, the rising volatility of risk assets is a typical phenomenon.

Rising volatility means that investors avoid rising dangerous moods, a phenomenon that will continue until the inflection point occurs.

  (This article comes from 北京夜生活网 Surging News)

Hengshun Vinegar (600305) Quarterly Report Review: Benefit from Price Increase and Channel Expansion The Company’s Condiment Performance Promotes Stable Growth

Hengshun Vinegar (600305) Quarterly Report Review: Benefit from Price Increase and Channel Expansion The Company’s Condiment Performance Promotes Stable Growth

The company’s performance was slightly higher than expected, and the condiment revenue increased by 15% + the company’s revenue in the first quarter of 20194.

6 billion, an increase of 15.

15%.

The company’s main business income of condiments accounted for about 90%, and increased by more than 15% in the first quarter of 2019, slightly exceeding market expectations.

(1) Revenue from vinegar in Q1 2019 3.

00 million, accounting for 70% + of the proportion of condiments. We expect its growth rate to be slightly lower than the overall growth rate of condiments, increasing 10% + each year.

The company announced on January 1, 2019 that the price of products that accounted for 15% of the overall revenue will be increased by 6-15%, of which the price of vinegar products will account for 16%, and the average price of vinegar will increase by 2% +8% + in the first half of the year.

(2) The company’s cooking wine has fully utilized its value to seize market share, and its volume is obvious. We expect that its revenue growth rate in 2019Q1 will be higher than the overall growth rate of condiments, an increase of 20% +.

The sales of vinegar and cooking wine increased steadily, mainly benefiting from channel expansion: (1) The company promoted existing distributors to increase the distribution of catering channels and increase the coverage of traditional channels.

(2) The company gradually increased the number of dealers. The number of dealers in Q1 2019 reached 1202, an increase of 13 from the end of 2018.

(3) After the price increase in January this year, the company slightly increased its support for the market and the enthusiasm of dealers increased.

The company’s net profit in the first quarter of 2019 was zero.

72 ppm, an increase of 21 in ten years.

66%; deduct non-net profit 0.

6.2 billion, an annual increase of 25.

46%.

The company’s non-net profit growth rate was significantly higher than the income growth rate, mainly benefiting from the increase in gross profit margin.

2019Q1 company gross profit margin 43.

77%, an increase of 3 before the first quarter of 2018.

53 PCTs, mainly benefiting from product price increases and vinegar product structure upgrades.

2019Q1 company sales expense ratio 16.

36%, an increase of 1 before the first quarter of 2018.

27 PCT; R & D expense ratio 2.

72%, up 2 before the first quarter of 2018.

04 PCT.

Benefiting from price increases and channel expansion, the company’s 2019 performance targets are expected to achieve the company’s continued focus on vinegar and cooking wine business, replacing the auxiliary industry, and it is expected that the condiment revenue will increase by 10-12% in the next 3 years.

(1) Benefiting from the volume of high-end vinegar, the structure of vinegar products has been continuously upgraded, and prices have been increased directly. The average price of condiments is expected to increase by about 2%.

(2) The company will continue to expand its channels, and the sales volume of condiments is expected to increase by 10% +.

According to the annual report, the company’s condiment revenue target for 2019 will increase by 12%, and the non-net profit target will increase by 15%, and we expect it to be completed with a high probability.

The direct price increase combined with the product structure upgrade is expected to boost the average price of condiments by 2% + in 2019.

Benefiting from the expansion of the catering channel and the increase in the coverage of traditional channels, we expect the company’s condiment sales to increase by about 10% in 2019, and the overlapping average price will increase. It is expected that the condiment revenue will increase 北京夜网 by 12% in 2019.

Benefiting from direct price increases and product structure upgrades, the company’s profitability is expected to continue to improve.

Earnings forecast We expect the company’s revenue to increase by 11% in 2019-2021.

3% / 10.

7% / 10.

6%; net profit increased by -0.

7% / 14.

1% / 13.9% (large non-recurring profit and loss base in 2018, leading to a decline in net profit in 2019); EPS is 0.

39/0.

44/0.

50 yuan / share, corresponding to PE estimated 34/29/26 times.

We expect the company’s non-net profit to increase by 17% in 2019-2021.

0% / 16.

5% / 16.

0%, deducting non-net profit corresponding to about 39/34/29 times.

We maintain the company’s judgment of a reasonable value of 15 yuan per share. The estimated PE value of the company’s non-net profit in 2019 is about 45 times (the non-EPS in 2019 is 0.

33 yuan / share), maintain BUY rating.

Risk warning: (1) food safety issues; (2) channel expansion is less than expected; (3) product structure upgrade is less than expected.