Categories
桑拿

[Practice of plain milk tea]_Home-made practice of plain milk tea_Original of plain milk tea_How to make plain milk tea

[Practice of plain milk tea]_Home-made practice of plain milk tea_Original of plain milk tea_How to make plain milk tea

Every New Year, I believe everyone will go back and look at their elderly parents. This is a concern and filial piety.

There are many ways to honor your parents. The best thing is to accompany them silently and make some delicious food for them.

Let ‘s take you to learn about the original milk tea1.

First look at the raw materials; 2.

2. First weigh 250 grams of milk with a kitchen scale;

First weigh 250 grams of milk with a kitchen scale; 4.

5. First weigh 250 grams of milk with a kitchen scale;

5. Put the weighed milk on the induction cooker and heat it to about 80 ° C until it boils to turn off the fire; 6.

Immediately pour 3 grams of black tea leaves and cover the brick wall with 焖 for more than 2 minutes. Do not exceed 3 minutes, because the tea leaves will be bitter for a long time, which will greatly affect the taste; 7.

3. Immediately pour 3 grams of black tea leaves and cover the brick wall with 焖 for more than 2 minutes. Do not exceed 3 minutes, because the tea leaves will be bitter for a long time, which will greatly affect the taste; 8.

Filter the black tea leaves with a fine strainer; 9.

Filter the milk tea, add condensed milk, and stir with a little bit of salt.

10.

Finished illustration.

Although the detailed steps of the original milk tea have been introduced, with your different understanding, you can make innovative changes yourself.

Believe that your innovation and change will definitely make this dish more perfect.

Categories
ECcxJq

[Huajia and what food are related]_ Taboo _ Note

銆愯姳鐢插拰浠€涔堥鐗╃浉鍏嬨€慱绂佸繉_娉ㄦ剰浜嬮」
Qubianaituan  Cun Zhouqiangheling any tender Uu ㄧ Jingkouguichen globe  Benyenfengben Chusoubenchu Wei Tingjiechixi wa Ren key Wuyiduanchou Wangtingjiemiao Duanmiebianmo Taming鐢蹭腑鍚湁杈冮珮鐨勮泲鐧借川鍜屽拰涓嶉ケ鍜岃剛鑲吀锛屾湁寰堥珮鐨勮惀鍏讳环鍊笺€傝姳鐢插瘨鎬ц緝澶э紝鎵€浠ヨ韩涓婂瘨姘斿ぇ鐨勪汉灏介噺灏戝悆鐢氳嚦涓嶅悆鏈€濂姐€傚叾瀹炶姳鐢蹭笌寰堝浜嬬墿涔熸槸鐩稿厠鐨勶紝鐭ヨ瘑澶у閮戒笉澶簡瑙c€傞偅涔堬紝鑺辩敳鍜屽摢浜涢鐗╂槸鐩稿厠鐨勫憿锛?.瀵屽惈闉i吀鐨勯鐗╄姳鐢蹭腑铔嬬櫧璐ㄥ惈閲忔瘮杈冮珮锛屽洜姝ら鐢ㄨ姳鐢茬殑鏃跺€欎笉寤鸿鍜屽瘜鍚灒閰哥殑椋熺墿涓€璧烽鐢紝鍥犱负闉i吀鍜岃泲鐧借川浼氬彂鐢熷弽搴旓紝鐢熸垚涓€浜涗笉濂芥秷鍖栫殑缁滃悎鐗╋紝澧炲姞娑堝寲璐熸媴锛屽鏄撳嚭鐜拌偁鑳冧笉閫傜殑鎯呭喌銆傚嚭鐜拌繖绉嶆儏鍐垫渶濂芥槸椋熺敤涓€浜涘叿鏈変績娑堝寲鑽墿銆傚父瑙佺殑瀵屽惈闉i吀鐨勯鐗╂湁锛氱绗嬨€佺煶姒淬€佽憽钀勩€侀吀鏋c€侀吀姊ㄣ€佹潕瀛愮瓑銆?.You can read the manuscript and read it carefully:  鐗 ╄ 姳 鐢 腭 蕄 勄 勮 刚 裏  デ 氶 永 槸 嶲 剄 剃炲鐨勬祦鍔ㄦ€э紝淇冭繘琛€娑蹭腑鑳嗗浐閱囩殑浠h阿锛岃繕鑳戒績杩涘ぇ鑴戠粏鑳炴椿鎬у鍔狅紝鏈夊寮鸿蹇嗗姏鍜屽仴鑴戠殑浣滅敤锛岃€岄ケ鍜岃剛鑲吀浼氶檷浣庝笉楗卞拰鑴傝偑閰哥殑鍚告敹锛屽洜姝ゅ悆楗卞拰鑴傝偑閰搁珮鐨勯鐗╋紝浼氶檷浣庤姳鐢茬殑钀ュ吇鎴愬垎銆傚父瑙佺殑楗卞拰鑴傝偑閰稿惈閲忛珮鐨勯鐗╂湁锛氱尓鑲ヨ倝銆佺尓娌广€侀浮娌广€侀腑鐨€佺硶鐐广€佺墰娌圭瓑銆?.瀵掓€ч鐗╄姳鐢叉湰韬€у瘨锛岄鐢ㄤ細澧炲姞韬綋鐨勫瘨鍑変箣姘旓紝褰卞搷鑴捐儍鍔熻兘锛岃嫢鏄悆鑺辩敳鐨勬椂鍊欏啀鍚冧竴浜涙€у瘨鐨勯鐗╋紝寰堝鏄撳奖鍝嶄綋璐紝鍑虹幇鑵规郴鐨勬儏鍐点€傚父瑙佺殑鎬у瘨鐨勯鐗╂湁锛氳嫤鐡溿€佽尛鐧姐€佺敓钘曘€佽瀮锜广€佽タ鐡溿€佹钁氥€佽嵏鑽犮€佹煔瀛愮瓑銆?.瀵屽惈鑳惰川鐨勯鐗╄姳鐢叉€у瘨锛岄鐢ㄦ鍛曚細澧炲姞鑲犻亾鐨勬粦鍒╂€э紝鑻ユ槸鍦ㄩ鐢ㄤ竴浜The problem is that you have to pay attention to the following questions: the details are fine, the details are inset, the details are inferior, the details are inferior, and the regulations are inconvenient.鍐点€傚父瑙佺殑瀵屽惈鑳惰川鐨勯鐗╂湁锛氭棤鑺辨灉銆佺钁点€佸北鑽€佽渹铚溿€侀吀濂剁瓑銆?

Categories
YPmOMg

[How to fry Cantonese sausages]_How to make_Method

[How to fry Cantonese sausages]_How to make_Method

Everyone knows that there are many varieties and varieties of Cantonese sausages. The main types are fresh duck sausages, waxed gold and silver sausages, fresh shrimp sausages, and rose pork sausages.The gift of choice is Cantonese-style sausages, which are very bright in color, but also have the advantages of mellow flavor and delicious taste, as well as thin skin and tender meat.

First, how can fried Cantonese sausages taste delicious?

Stir-fried Cantonese-style sausages with bell peppers.

Sausages are sliced obliquely, ginger and chives are cut into sections.

Wash and cut the bell peppers, and cut the celery into sections.

Add a little edible oil to the pan, stir-fry the bell peppers and celery.

Stir until the bell peppers are broken and add salt.

Add the remaining oil to the pan and add the ginger.

After the scent, the sausage is lowered.

Stir fry over low heat until the sausage becomes transparent and scoop out the oil.

Boiled bell peppers and celery before.

Stir fry and pour in steamed fish stew.

 Slightly for 2 minutes.

Sprinkle the shallots and leave the pot.

Note: After the sausage is taken out of the pot, simmer on low heat.

Because the sausage is sweet, the fire is easy to stick to the pan and the bottom.

Second, Cantonese-style sausages are fried with pepper.

Preparing materials: Hang pepper and sausage, wash the pepper and cut into oblique sections, cut the sausage into slices, pour oil in the pan, add sausage slices and stir-fry when the Liuqicheng is hot, and stir-fry the pepper when the sausage changes colorSalt, add an appropriate amount of raw soy sauce, cook off the heat.

Third, are Cantonese-style sausages and fried dishes delicious and healthy?

Stir fry with oil-absorbing vegetables. Do not add salt and oil when frying. Add more water.

The Cantonese sausage has a salty flavor. Putting water to boil can allow too much salt and a small amount to be poured into the water. Eating sausages can reduce the intake of fat.

Oil-absorbing vegetables are: broccoli, lettuce, cabbage, and the like, and do not add salt and oil when fried. Sausage itself has oil, fried vegetables can use its fat, and then put the oil may be upside down.

How to make Cantonese sausages delicious?

Cantonese style fried dutch beans.

Method: Prepare the ingredients, wash the peas, peel off both ends and stems, sausages, and garlic.

Wash the ingredients, peel and mince the garlic, and slice the sausage.

Heat oil in a wok and add minced garlic to sauté.

Add the sausages and stir fry quickly.

Then add dutch beans and salt.

After stir-frying quickly, sprinkle in chicken essence and stir-fry.

Categories
OVLFlyki

[Can you eat spicy after playing with hyaluronic acid]_Hyaluronic acid_Can you eat

[Can you eat spicy after playing with hyaluronic acid]_Hyaluronic acid_Can you eat

Hyaluronic acid is a stock solution extracted from plants. Because hyaluronic acid can slightly fill and shape the human body, hyaluronic acid is also widely used in the field of beauty.

Especially when people are not satisfied with the height of their noses and the shape of their chins, they can go through injection of hyaluronic acid to make their noses look taller and their chins look fuller.

But can I still eat chili after hyaluronic acid?

Dietary Precautions After Hyaluronic Acid Dietary Precautions After Hyaluronic Acid Dietary Precautions After Hyaluronic Acid Dietary Precautions After Hyaluronic Acid Causes Redness, Swelling, and Pain at the Injection Site.

In addition, do not eat seafood, some shrimps, crabs, freshwater fish, marine fish, etc. after hyaluronic acid injection, so as not to affect the recovery of wounds.

After playing hyaluronic acid, in addition to paying special attention to the diet, promote the recovery of the injection site, make the injection of hyaluronic acid better, and pay more attention to daily care: 1.

After playing with hyaluronic acid, do not perform cardiovascular exercise to avoid complications, rubbing, and pressing the injection site; 2.

2. Do not take painkillers or other medicines randomly after hitting hyaluronic acid; 3.

After playing with hyaluronic acid, pay attention to maintaining general basic maintenance procedures, pay attention to sun protection at the injection site, and pay attention to maintaining gentle skin care and so on.

Tips: The use of hyaluronic acid for skin care still has more advantages than disadvantages. The use of this drug can effectively help female friends to delay the process of skin aging and achieve the effect of firming the skin.

Makes your skin look more elastic and energized.

At the same time, do not use this medicine too much at one time. Excessive use may bring a counterproductive effect.

What is Hyaluronic Acid? The main effect of hyaluronic acid is to hydrate and moisturize, because when the skin is hydrated, there will be no gloss, dullness and colorlessness.

After oral hyaluronic acid absorbs water, it uses elastic fibers and collagen to be in a humid environment, which provides a suitable environment for externally supplemented collagen to synthesize its own collagen, which improves the utilization rate of collagen, and therefore the skin has elasticity.Skin stays moist for a long time.

Micro plastic hyaluronic acid is the most commonly used injection material for facial features. It is widely used for rhinoplasty, cheeks, chin, temples, lips, apple muscle, breasts, buttocks.

After the injection, the shape can be arbitrarily shaped according to the design intent, so that the recessed part is filled and filled, and the undesired part is reshaped to achieve the desired effect.

After shaping, the appearance is naturally uniform, the soft and hard are moderate, and the hand feels real, just like it was born!

One of the criteria for maintaining good skin elasticity is that it is full of elasticity. Hyaluronic acid is sufficient to achieve the effect of hydration. Based on the skin in the body, it is in a moist environment by elastic fibers and collagen, which synthesizes itself for external supplemental collagenCollagen provides a suitable environment and improves the utilization of collagen.

Wrinkle Removal When a woman is over 25 years old, her skin is prone to wrinkles, especially around the eyes.

The uric acid component can stimulate collagen proliferation and lock the moisture in the skin, so that the skin is full of elasticity and gloss, which fundamentally solves the problem of skin aging and makes the skin look younger.

Categories
夜生活

[Practice of green orange mint soy sauce shrimp]_Homemade practice of green orange mint soy sauce shrimp_Practice of green orange mint soy sauce shrimp_How to do green orange mint soy shrimp

銆愰潚妗旇杽鑽烽叡娌硅櫨鐨勫仛娉曘€慱闈掓钖勮嵎閰辨补铏剧殑瀹跺父鍋氭硶_闈掓钖勮嵎閰辨补铏剧殑鍋氭硶澶у叏_闈掓钖勮嵎閰辨补铏炬€庝箞鍋?
You can’t wait to get rid of it ╀ 袱 擶 ╀ 廴 绾 緾 琩  殑 鍦 鍦 揩 鏄 鏄 Response to 錏  ゼ 屜 峕 値 尤尤 嬤 啤 啮 啤 啤 尤 啤悆鎯簡蹇閫熼锛屼篃浼氭€€蹇佃捣瀹跺父渚块キ鏉ワ紝闈掓钖勮嵎閰辨补铏剧殑鍋氭硶鏂逛究蹇嵎锛屽崄鍑犲垎閽熷氨鍙互鐑归オ鍑虹殑缇庡懗锛屽彧闇€钂哥叜锛屾棤闇€鎷呭績娌圭儫鐨勪激瀹炽€?銆 ? 3 tweezers?鐗囪杽鑽峰彾锛岀敤50鍏嬬函鍑€姘存场鍑鸿杽鑽峰懗銆傛垜绉嶇殑钖勮嵎鍙墿浜涘皬鍙朵簡锛屾墍浠ョ敤浜嗗皯璁告銆?銆佺劧鍚庣敤钖勮嵎姘村拰椴滈叡娌广€佹枡閰掋€佺櫧绯栧厬鎴愭眮锛屾渶鍚庡姞鍏ラ矞铏捐荆閰辨补锛屼緷浣犻杈g殑鍙e懗娣诲姞銆傝懕濮滃垏涓€浜涚粏涓濊鐩樼敤锛屽叾浣欑殑濮滃垏鐗囥€佽懕鍒囧娈点€傝杽鑽峰彾澶囩敤銆?銆佹渤铏炬礂杩囨播骞叉按鍒嗐€傚彇鐐掗攨鐑ц壊鎷夋补锛屾补鍏垚鐑椂鏀惧叆娌宠櫨鐐歌嚦铏惧3璧烽叆鎹炲嚭銆傚緟娌规俯鍗囬珮鏃跺啀蹇€熷鐐镐竴娆℃播娌广€?Do you know how to fix it? Do you want to fix it? Do you want to fix it? 坽 咢 咢 十 卞  鐖 嗛  銆?銆佸姞鍏ュ厬濂界殑姹佺儳寮€锛屾崱鍘昏懕濮溿€?Do you like it? Do you like it? Do you like it?Are you looking for? Lou Fufu?銆佽鐩樻椂鎾掍簺钁卞涓濓紝鐢ㄨ杽鑽峰彾鐐圭紑鍗冲彲銆傚彧瑕佸浼氫簡涓€浜涘甯歌彍鐨勫仛娉曪紝姣斿闈掓钖勮嵎閰辨补铏剧殑鍋氭硶锛岄偅鑷繁鍦ㄥ閲屽仛楗氨涓嶄細鍐嶆槸闅句簨銆?

Categories
新闻

[How to wash the river mussel]_ 河 河 _How to wash_How to wash

銆愭渤铓屾€庝箞娲楀共鍑€銆慱娌宠殞_鎬庢牱娲梍濡備綍娲?
娌宠殒鍙互锅氩嚭钖勭缇庡懗镄勯鐗╋纴浣嗘槸鍦ㄥ埗伞滆d箞涔熻娉ㄦ剰鍏堟竻娲楀共鍑€锛屾渤铓屼拱鍥炴潵涔嬪悗搴旇璁╁畠鍦ㄦ竻姘村綋涓吇澶х害涓や笁澶╃殑鏃堕棿锛岃娌宠殞鎶婃偿鍚愬共鍑€銆?涓€銆佹渤铓屾€庝箞娲楋細 鎶婃渤铓岀敤娓呮按婕傛礂灏藉噣锛岀敤鑿滃垁娌跨紳澶勫皢鍏朵竴涓釜鍒囧紑锛屼簲鑴忓叚鑵戦】鐜扮溂鍓嶃€傛磥鐧界殑铓岃倝涓扮泩鍘氬疄锛岄矞瀚╂櫠浜紝涓€鑲℃祿閮佺殑鑵ユ皵鎵戦蓟鑰屾潵;鐒跺悗涓€鍧椾竴鍧楀湴鍓斿敖锛屽啀娆℃紓杩涙按涓紝鐢ㄦ寚澶村埉鍘昏厫璐紝澶嶅張娓呮礂鍚庝究鍙儳鑿滀簡銆?浜屻€佹竻姘村吇娌宠殞 娌宠殞涔板洖瀹朵互鍚庯紝涓嶈鎬ヤ簬鐑硅皟锛岃€屾槸瑕佹斁鍦ㄦ竻姘撮噷锛屽苟鍦ㄦ按閲屾斁鐐圭洂锛岃繖鏍峰吇澶х害涓よ嚦涓夊ぉ锛屽緟鍏跺悙灏芥矙娉ュ悗鍐嶇児鍒讹紝椴滃懗灏や负绐佸嚭銆?涓夈€佸墫寮€鍙栬倝 1銆佸厛鐢ㄥ乏鎵嬫彙绱ф渤铓岋紝鏄殞鍙f湞涓婏紝鍐嶇敤鍙虫墜鎸佸皬鍒€鐢辨渤铓岀殑鍑烘按鍙e锛岀揣璐翠竴渚х殑鑲夊3澹佸埡鍏ヤ綋鍐咃紝鍒鸿繘娣卞害绾︿负1/3锛岀敤鍔涘埉鏂渤铓岀殑鍚稿3鑲岋紝鐒跺悗鎶藉嚭灏忓垁锛屽啀鐢ㄥ悓鏍锋柟娉曞埉鏂彟涓€绔殑鍚稿3鑲岋紝鎵撳紑铓屽3锛岃殞鑲夊嵆鍙畬鏁存棤鎹熺殑鍙栧嚭鏉ャ€?銆佸鏋滀笉鍠滄鐢ㄥ垁鐨勮瘽锛岃繕鏈変竴绉嶅緢鐪佷簨鐨勬柟娉曘€傚氨鏄妸娌宠殞鍊掑湪閿呴噷锛屽姞姘寸叜娌革紝杩欐牱娌宠殞鐨勮倝鍜屽3灏变細鑷姩鍒嗙浜嗐€?

Categories
夜网

[How to exercise psychological quality]

[How to exercise psychological quality]

Psychological quality is mainly a component of the overall quality of the human body. Human quality is based on the influence of colleagues’ acquired environment and educational practices. At the same time, it gradually develops as a core psychological quality of innate and acquired.One of the physical and psychological qualities and the long ones, colleagues are mainly based on psychological qualities, and in practice, they are mainly a combination of subjective and objective.

It is mainly a sense of information and some aspects of willpower and attention. It is also very important to make psychological characteristics in life, and it is also very important to exercise some psychological qualities. Therefore, the quality of the mind will affect some other types of behavior.And some diseases.

1. Positive identification with oneself can not only see one’s own shortcomings. Serious inferiority complex arises from comparison.

Therefore, while positively identifying with yourself, don’t look at others perfectly.

A person with a strong inferiority complex does not have this consciousness: he is also a person.

Since they are all “people”, they all have their own strengths and weaknesses.

Accepting yourself means accepting your weaknesses and strengths.

2. Building self-confidence To build self-confidence, you must first learn to say: No!

.
Inferiority complex is a manifestation of mental weakness.

The key is that they don’t have strong self-confidence. They dare not reveal their thoughts too much.

As a result, the action follows the flow, has no opinion, has no courage, and causes psychological depression and depression.

Psychologists think: If you find yourself stupid, then you are stupid.

If you think you are elegant, you are elegant.

.
.
Therefore, inferiority complex can be overcome.

But to overcome it, you must rely on yourself.

Successful learning said: The self-sufficient God helps!

3. Positive self-suggestion learns to say in my heart: I can do it too!

You may wish to ask yourself: they are the same people, he can, I can.

He can do it, so can I.

4. Actively interacting with others is not something that comes to mind.

Psychologists believe that when a person is alone, mental activity turns to the inside, towards himself.

The scope and content of psychological activities are subject to certain limitations, coupled with the limitations of cognition, regular psychological activities tend to extremes.

It is dangerous for a person’s psychology not to be understood by her, even if it feels “how advanced”.

People who associate with health will be purified in heart, open in heart, and open in experience.

The psychological shadow gradually disappears during the activity.

The above is how to exercise psychological quality. It is necessary to improve your psychological quality in daily life. The quality of your heart will affect some other types of behaviors and certain diseases, mainly including self-consciousness training bases. Training emotions have been fully cultivated andThe aspect of study guidance is not that it is mainly that you can have a good understanding and exercise.

Categories
洗浴

[Can eggs and corn be eaten together]_corn_chicken_can be eaten together

銆愰浮铔嬪拰鐜夌背鑳戒竴璧峰悆鍚椼€慱鐜夌背_楦″瓙_鍙互鍚屽悆鍚?
楦¤泲浠ュ強鐜夌背锛屾垜浠湪鐢熸椿褰撲腑缁忓父浼氬悆寰楀埌锛岃€屼笖浠栦滑杩欎袱绉嶉鐗╁綋鐒舵槸鍙互涓€璧峰悆鐨勶紝涓嶄細鏈変粈涔堜笉鑹殑鍙嶅簲锛屾瘮濡傚仛鎴愰浮铔嬬帀绫崇竟灏辨槸姣旇緝钀ュ吇What’s the difference? What’s the difference? What’s the difference? What’s the difference? What’s the difference?涓€銆侀浮铔嬬帀绫崇竟鐨勫仛娉曪細 鏉愭枡锛氱帀绫?60鍏嬶紝楦¤泲2涓紝铇戣弴40鍏嬶紝娣€绮?鍏嬶紝鐗涘ザ100鍏嬶紝鍑€鍐弴銆佹枡閰掑悇25鍏嬶紝椴滆睂璞嗙矑20鍏嬶紝绮剧洂4鍏嬶紝钁便€佸鍚?鍏嬨€傚仛娉曪細1銆侀矞璞岃眴鏀惧叆鐑⒈姘翠腑娉′竴涓嬶紝鎹炲叆鍑夋按涓场鍑夛紱 2銆佺倰閿呯儳鐑紝鍔犳补鐢ㄨ懕銆佸銆佹枡閰掔吀閿咃紱3銆佸€掑叆璞岃眴銆佽槕鑿囥€佸啲绗嬶紝绋嶇儵鍚庯紝鍔犳按锛屽€掑叆鐜夌背銆侀浮铔嬨€佺墰濂跺拰鐩愶紝寮€閿呭悗鍔犲叆娣€绮夊嬀鑺″嵆鍙?浜屻€佺帀绫抽浮铔嬬竟 鏉愭枡锛氳眴鑵?What’s the difference between the paper and the paper? The paper is so beautiful, the paper is so beautiful, and the paper is made of paper, paper, paper, paper, paper, paper, paper, paper, paper, paper, paper, paper, paper, paper, paper, paper, paper, paper, paper and paper.What’s the matter? What about the paper?绮掞紝楦¤泲1涓€傜懚鏌辩敤鐑按娴告场鑷宠蒋鎾曠锛堟场鐟舵煴鐨勬按鐣欑潃涓€璧风叜锛屽緢椴滅殑锛夛紝鐮傞攨鐑х儹锛岀垎娌癸紝寰呮补鐑悗娉ㄥ叆鏆栨按锛堟斁鍐锋按鐮傞攨浼氳鍝︼紝鍋舵墜涓€鎶栵紝娌瑰€掑浜嗭級锛屽皢鐟舵煴杩炴蹈娉$殑姘翠竴璧峰€掑叆閿呬腑銆傚緟閿呭唴鐨勬按鐑у紑鍚庡皢璞嗚厫鍙婄帀绫崇矑涓€璧峰€掑叆閿咃紝鍐嶆鐑у紑鍚庤浆灏忕伀鐓?5鍒嗛挓銆傚姞鐩愯皟鍛筹紙鍥犱负鏈夌懚鏌憋紝鎵€浠ヤ笉鐢ㄦ斁楦$簿灏卞凡缁忓緢椴滀簡锛夛紝楦¤泲璋冩暎锛岃秮鐑€掑叆閿呬腑锛屾悈鎷屾垚铔嬭姳锛岀唲鐏紝OK锛佺帀绫宠眴鑵愰浮铔嬬竟鍑洪攨銆?

Categories
夜网

Vantage Holdings (002035): Q3 revenue increases net profit + 22% semi-annually

Vantage Holdings (002035): Q3 revenue increases net profit + 22% semi-annually

Revenue increased and net profit maintained a high growth. The company 重庆耍耍网 maintaining the “Buy” rating disclosed the third quarter report of 2019, and the company achieved operating income in Q1-Q3 of 201942.

750,000 yuan, at least -7.

98%, net profit attributable to mother 5.

1.7 billion, ten years +16.

87%, of which, in the single quarter of 2019Q3, the company achieved operating income13.

440,000 yuan, at least -8.

63%, net profit attributable to mother 1.

2.2 billion, +22 a year.

19%, the overall growth rate is in line with our expectations.

Taking into account the continued resumption of land growth, the subsequent company’s engineering channel revenue may improve the performance, we predict that the company’s EPS in 2019-2021 will be 0.

87, 1.

03, 1.

24 yuan, maintaining the company’s “Buy” rating.

Kitchen appliances retail is still under pressure, and the revenue has 南宁桑拿 been extended to Q1-Q3 2019, and the company’s operating income will be 42.

750,000 yuan, at least -7.

98% in the single quarter of 2019Q3, the company achieved operating income13.

440,000 yuan, at least -8.

63%.

In the face of the intensified retail market for kitchen appliances, the company focuses on promoting dishwasher, oven and steam-boiler all-in-one products, but the new product revenue share is still replaced. At the same time, the revenue growth of core products such as hoods, stoves, and gas water heaters may continuePressure, resulting in overall revenue scale.

At the same time, with the completion of real estate and the improvement of sales data, the competition in engineering channel stocks is fierce, and companies with leading brand power are able to achieve differentiated growth.

Q3 gross margin growth slowed down, +0 per year.

48PCT company achieved a gross profit margin of 48 in Q1-Q3 2019.

90%, ± 2.

46%.

Among them, in the single quarter of 2019Q3, the company’s gross profit margin was 46.

66%, ten years +0.

48%.

In the context of the low prosperity of the kitchen appliance industry, the company upgraded its brand, reduced costs and adjusted product structure, and the profitability increased against the trend. However, the competition in the stock market has become more intense, which has also affected the price of traditional kitchen appliances.The unit price of the company’s average price increase in 2018 may face higher pressure.

The expense ratio decreased during Q3, and the sales expense ratio decreased by -3.

79PCT 2019Q1-Q3 company’s overall period subsidy33.

55%, ten years +0.

30PCT (Q3 single season half year -4.

64PCT).

Among them, the sales expense ratio returns 27.

37%, -0 per year.

22PCT (Q3 single quarter sales expense ratio -3).

79PCT), we believe that under the pressure of demand, channel expansion and marketing promotion activities may have improved, driving the single-quarter sales expense rate downward.

R & D expense ratio reaches 3.87%, ten years +0.

46PCT, the company maintains product and technology iteration speed, exerts its strength on new products, and creates new growth points.

And the management expenses cost 3.

27%, ten years +0.

17PCT.

Financial expenses were -41.03 million yuan, maintaining a relatively stable level of interest income.

In summary, the company achieved net profit attributable to mothers in Q1-Q3 20195.

1.7 billion, ten years +16.

87%.

Profitability continues to improve, and the company is expected to maintain rapid growth in net profit. We forecast the company’s EPS in 2019-2021 to be zero.

87, 1.

03, 1.

24 yuan (the company’s stock shares are replaced by buy-backs, and the EPS is 0 compared with the previous 2019-2021.

86, 1.

02, 1.

23 yuan increase), as of October 29, 2019, the average PE of comparable companies in 2019 is 16.

22x, compared with industry benchmarks, the company’s terminal demand is under certain pressure. Under the situation of the real estate growth rate improving month-on-month, the company’s engineering channel revenue driving role has not been clearly reflected for the time being. If subsequent engineering orders increase, the company may be able to achieve elasticity in profit growth.

At the same time, through brand upgrades, the company reduced costs and cooperated with product structure adjustments, product profitability continued to increase, and net profit growth is expected to continue to be better than revenue growth.

The recognition gives the company 16-18 times PE in 2019, corresponding to the target price of 13.

92?
15.

66 yuan, maintain “Buy” rating.

Risk Warning: Competition in the kitchen appliance market is intensifying.

Unfavorable fluctuations in raw material prices.

The impact of the land cycle is greater than expected.

Categories
按摩

PetroChina Engineering (600339) Semi-annual Report Comment: Exchange Exchange Leads to Interim Results and Expected Orders from Three Major Sectors

PetroChina Engineering (600339) Semi-annual Report Comment: Exchange Exchange Leads to Interim Results and Expected Orders from Three Major Sectors

Event: The company released the semi-annual report for 19 years, and realized operating income of 21.4 billion yuan, which was basically flat for one year; net profit attributable to mothers was zero.

8 billion, previously -35%.

19Q2 / Q1 revenue was + 29% MoM, and net profit attributable to mothers was -77% MoM.

Opinion: The short-term growth in performance is mainly due to the company’s net exchange gain of 0 in the first half of the year.

100,000 yuan (reduction of 0 per year).

US $ 7.3 billion, and the gross profit margin of the refining segment exceeded expectations.

In the first half of the year, the company’s upstream / midstream / downstream / environmental engineering business achieved revenues of 1.031 / 61/360 / 130,000 yuan, a year-on-year increase of +11% / + 10% /-35% / + 8%; gross margins reached 7 respectively.

6% / 7.

5% / 3.

9% / 14%, ten years +0.

6 / + 1.

9 / -4.

4 / + 3.

6.

In the first half of the 杭州夜网论坛 year, new orders were generally flat, upstream orders increased sharply, and pipeline orders were waiting for the pipeline company to land.

The company newly signed 3759 effective projects with a newly signed contract value of US $ 25.2 billion, which is almost the same. The amount of unsigned contracts has been awarded to US $ 8.6 billion, and the total outstanding contract value has been US $ 12.2 billion, with a total contract value of 45.9 billion.The above is basically the same.

In the new millennium, overseas orders are 20% and 20%, accounting for 18%; in the new decade, oil and gas field surface engineering orders are 70%, exceeding + 43%; and pipeline and storage and transportation engineering business have exceeded 4.5 billion orders, exceeding-19%; US $ 9.3 billion in refining and chemical engineering business 深圳spa会所 in the new millennium, which is basically the same for a year; environmental engineering, project management and other businesses in the new millennium, US $ 3.9 billion, each time -24%.

The growth of the company’s upstream orders is in line with our judgment on the increase in domestic upstream long-term capital expenditure.

Business Outlook: The State Pipe Network Corporation is expected to be established this year, and there is huge space for investment in pipeline storage and transportation.

The goal of 30,000 kilometers of pipeline mileage from 18-20 to now needs to be achieved, with an investment of about 300 billion yuan and an average annual investment of 100 billion yuan, which is twice that of 16/17.

By 2025, the mileage of the Iraqi natural gas pipeline network will reach 16.

30,000 kilometers, supplemented by 5.

90,000 kilometers, with an estimated investment of 5900 trillion, with an average annual investment of 118 billion.

As a domestic leader in the construction of oil and gas pipeline networks, the company has benefited from order promotion.

The greater domestic oil and gas exploration and development speed has been increased to the point of ensuring national energy security, and oil and gas surface engineering is expected to bring upstream long-term capital expenditures.

PetroChina’s capital expenditures recovered from 2017, and upstream capital expenditures reached 1620/1961/2282 billion in 17/18/19 respectively. It is estimated that the receivables and gross profit margin of the company’s land and ground engineering business segment will continue to recover at least until 2020.

In the refining and chemical business, the order for the Jieyang project of CNPC is pending, and orders are expected to grow well.

Taking into account the weaker-than-expected interim results, we lowered our 19-year performance forecast to 1 billion (originally 1.6 billion), maintaining a 20/21 net profit of 21/26 trillion, and an EPS of 0.

17/0.

38/0.

46 yuan / share, corresponding to 22/10/8 times of PE, maintaining the “overweight” rating.

Risk reminder: the uncertainty of the national pipeline network company landing, the risk of global oil and gas investment decline