Guanglianda (002410): Cloud transformation continues to accelerate cloud business to achieve high growth

Guanglianda (002410): Cloud transformation continues to accelerate cloud business to achieve high growth

The company released its semi-annual report on August 21, 2019, and achieved total operating revenue of 13 in the first half of 2019.

470,000 yuan, an increase of 27 in ten years.

76%, achieving net profit attributable to listed shareholders of 0.

900,000 yuan, at least -39.

13%.

In the first half of the year, the company’s cost business and construction business made joint efforts. The revenue end grew faster than expected. The effect of the cloud transformation has begun to transform quarter by quarter. The construction business also officially ushered in an upward turning point this year after the 四川耍耍网 organization structure was finally adjusted.

At the same time, the decrease in the company’s net profit in the first half of the year was mainly due to the change in the business model from product sales to subscription services. The method of revenue recognition changed from one-time confirmation to instalment by service period, but the related expenses were still one-time expenditure. At the same time, digital construction during the reporting periodAnd digital cost of e-government business revenue increased, the corresponding hardware procurement costs increased.

In the first half of the year, cloud advance receipts achieved high growth, and the progress of cloudification transformation continued to accelerate.

In the first half of the year, the company’s cost business SaaS conversion entered the deep water area, the conversion area increased from 11 to 21, the comprehensive conversion rate of pricing and calculation product users exceeded 72%, and the current renewal rate reached 80%; the progress of the new transformation market reached expectations, and the pricing productsThe comprehensive conversion rate of users reaches 31%, and the comprehensive conversion rate of calculated product users reaches 45%.

In the first half of the year, the company’s cost business realized operating income.

68 ppm, an increase of 28 in ten years.

31%, of which cloud revenue is 3.

USD 7.1 billion, a year-on-year increase of 197%, and the number of new cloud contracts signed in the first half of the year was 6.

29 trillion, an increase of 151% in ten years.

At the end of the first half of the year, the company’s cloud advance income was 6.

7.2 billion, an increase of 62% over the beginning of the period.

Revenue and profit 合肥夜网 after considering advance funds related to cloud transformation: The company’s apparent gross operating income + cloud advance receipts at the end of the period-cloud advance receipts at the beginning of the period are approximately 16.

3.8 billion, a 36-year increase in the same caliber.

70%, the net profit attributable to shareholders of the listed company after the reduction is about 3.

2.2 billion, an increase of 23 years in the same caliber.

46%.

Profit forecast and investment advice: It is expected that the company’s revenue from 2019 to 2021 will be 33.

7, 40.

1, 48.

10,000 yuan, 16%, 19%, 20% a year, EPS for 2019-2021 are 0.

43, 0.

51, 0.

63 yuan / share.

Maintain the “Highly Recommended” rating.

Risk warning: breakdown of real estate investment growth rate; new business is not performing as expected.

Emotional instability before the physiological period, do some aerobic exercise appropriately

Emotional instability before the physiological period, do some aerobic exercise appropriately
Many female friends have this type of trouble: each time before or during the physiological period, there will be some physical discomforts of different degrees, such as low back pain, lower abdominal pain and fatigue, and accompanied by physical discomfort and emotional fluctuationsSuch symptoms as headache, amnesia, insomnia, irritability, emotional instability, palpitations and dizziness, etc. These symptoms disappear soon after the physiological period arrives or after the physiological period.The chief physician of Gynecology and Xiu Kui of Guangdong Maternal and Child Health Hospital pointed out that this change is medically called premenstrual syndrome.Female friends with premenstrual syndrome can pay attention to nutrition, exercise, sleep, relax, and seek professional doctor’s help if necessary to slowly get rid of this problem.He Xiukui introduced that it is currently believed that the occurrence of premenstrual syndrome may be related to the hormone changes before the onset of the physiological period. After ovulation, the progesterone hormone increases, and the levels of estrogen and progesterone decrease rapidly before the physiological period, leading toIn the early stages of the physiological period, symptoms such as insomnia, nervousness, and other vegetative neurological disorders will appear. The second is that it may be related to some neurotransmitters related to emergency response and emotional control. These neurotransmitters will fluctuate and change sexual hormones during the physiological periodIt is more sensitive, which affects the coordination of the spirit and nerves. In addition, emotional tension, stress, diet, lifestyle, or lack of certain nutrients may also be an important factor in the premenstrual syndrome.Premenstrual syndrome is not a big problem, but the recurrence of these discomforts for a long time will more or less cause various annoyances to female friends and even affect daily life, work and interpersonal relationships.With Xiu Kui’s tricks, women 南京夜网 with PMS can alleviate PMS problems by adjusting their mood, dietary intake, and appropriate exercise.Before the onset of the physiological period, you can consciously adjust your mentality, relax, pay attention to the combination of work and rest, and do some things you like to divert your attention.In addition, you can tell your family about yourself and get support and comfort from your family to reduce environmental stimuli and emotional conflicts and help you through this uncomfortable phase.Eat more foods rich in vitamins and fiber, and reduce or avoid caffeine, alcohol, or other spicy foods.You can also do some aerobic exercises, such as swimming and yoga, to reduce psychological stress and relieve physical tension. It is necessary to remind that you should avoid some strenuous exercise during the physiological period.Severe symptoms can be treated under the guidance of a doctor with some drugs or psychological behaviors in cognitive behavior.(Wang Jing Correspondent and Correspondent Lin Huifang)

Release Limits for Qualified Foreign Investors for Long-term Living Water for A-Share Dating

“Release Limits” for Qualified Foreign Investors for Long-term “Living Water” for A-Share Dating

The temperature and financial situation has completely lifted the limit on investment quotas of qualified foreign investors, which is conducive to directing medium and long-term funds to the domestic capital market and maintaining the health and stability of the capital market.

  On September 10, the State Administration of Foreign Exchange issued an announcement saying that it had decided to remove the investment quota restrictions for Qualified Foreign Institutional Investors (QFII) and RMB Qualified Foreign Institutional Investors (RQFII) (hereinafter collectively referred to as “Qualified Foreign Investors”).

At the same time, it is clear that the individual investment quota of QFII will no longer be filed and approved, and the RQFII pilot country and region restrictions will also be lifted.

  The qualified foreign investor system is an important step in the gradual opening up of financial markets when primary capital projects have become freely convertible.

The experience of financial opening in developing countries shows that, while the ability to withstand royal risks is still limited, suddenly, rapid financial liberalization often causes severe shocks to the financial system.

Based on this, gradually adopt a gradual reform and opening path, gradually open the financial market, date foreign investors, implement the QFII system in 2002, and the RQFII system in 2011. There are now more than 400 institutional investors in 31 countries and regions around the world.Invest in China’s financial market through this channel.

  The current comprehensive elimination of restrictions on investment quotas by qualified 深圳桑拿网 foreign investors is a further step forward in a gradual and gradual reform path to increase the convertibility of RMB capital items.

On a subjective level, developing countries’ economic and financial strength is constantly increasing, their ability to withstand risks is gradually increasing, the pace of opening up to the outside world is accelerating, and removing restrictions on investment quotas for qualified foreign investors is the active choice to expand the opening up of financial markets to the outside world.

Objectively, under the current uncertainty of global economic development, the long-term and stable development of the long-term economy has driven strong demand for global long-term capital allocation of RMB assets. Ming Sheng, FTSE Russell, S & P Dow Jones, Bloomberg Barclays, etc.More international mainstream indexes have index systems of their internal 苏州桑拿网 stocks and bonds, and domestic financial assets have long been favored by international capital, which objectively gave rise to the need to open the financial market.

  It is of great significance to completely lift the investment quota limit for qualified foreign investors.

For the domestic sector, this is another major reform in the field of foreign exchange management of expected qualified foreign investors. It is a landmark event for internally promoting the opening of capital accounts and an important step forward in actively promoting the opening up of financial markets.

For foreign countries, this has improved the convenience of financial markets for foreign investors ‘investment income, which is conducive to further satisfying foreign investors’ investment needs in the capital market and sharing the fruits of reform and opening up and economic growth.

  On the whole, the comprehensive removal of restrictions on investment quotas by qualified foreign investors has a positive impact on the development of the baseline capital market.

First of all, other channels, the qualified foreign investor mechanism has specific advantages, which is conducive to dating medium- and long-term funds more directly to the domestic capital market. This is a policy to encourage the entry of medium- and long-term funds rather than the rapid entry and exit of short-term funds.Conducive to maintaining the health and stability of the capital market.

In fact, foreign investors will increase the allocation scale of Chinese stocks and bonds, provide supplementary liquidity, and promote the development of domestic capital markets.

Third, foreign investors and domestic investors compete on the same stage in the Chinese capital market, promote the enhancement of investment diversification, form a virtuous competition cycle, promote the competitiveness of Chinese financial institutions, and continuously improve the structure of domestic investors, thereby accelerating the construction of a standard, Transparent, open, dynamic and valuable capital markets.

  With the further advancement of financial market reform and opening up, foreign exchange investment barriers will gradually be eliminated, market returns will continue to increase, investors will continue to grow, and the reform and opening up dividends will continue to be released, which will continue to boost foreign investment in the long term and weaken short-term fluctuationIt is expected that the scale and proportion of foreign investment will further increase in the future.

At the same time, the regulatory authorities should further revise and improve supporting policies, coordinate and link up policies, effectively prevent cross-border capital flow risks, and maintain the safety and stability of financial markets.

  □ Wen Bin (Principal Researcher of Minsheng Bank)

Wanrun shares (002643): Performance in line with expectations Product profit continues to increase

Wanrun shares (002643): Performance in line with expectations Product profit continues to increase

Event: The company released its 2019 Interim Report, reporting a series of realized operating income21.

93 ppm, an increase of 1 per year.

18%, achieving net profit attributable to the parent company2.

310,000 yuan, discounted to EPS 0.

25 yuan, an increase of 19 per year.

63%.

Opinion: The company achieved revenue in Q2 in a single quarter 6.

3.1 billion, an annual increase of 1.

78%, a decrease of 4 from the previous month.

58%, net profit attributable to mother in a single quarter1.

2.杭州夜网论坛 9 billion, an increase of 0 every year.

47%, an increase of 27 from the previous month.

56%.

The growth of the company’s net profit is definitely a change in product structure to increase the company’s product gross profit margin.

2019H1 company’s gross profit margin of functional materials 41.

85%, an increase of 5 per year.

72 units; gross profit margin of large health sector 46.

30%, an annual increase of 4.

25 units.

In addition, the additional reduction in research and development expenses and exchange losses must increase the company’s net profit.

  The convertible bond project ceased, and the launch of new production capacity of built-in materials to ensure the growth of the company’s performance. After the comprehensive promotion of National VI, domestic demand for polymer molecular sieve materials is expected to exceed expectations.

The company has 3350 tons of new intermediate materials, which is in full production and sales, and has a capacity of 2500 tons under construction. It is expected to be completed and put into operation by the end of 2019.

In addition, the company stopped issuing convertible bonds and instead invested in self-funded construction of new polymer environmentally friendly materials with an annual output of 7,000 tons.

The company’s existing monetary funds7.

At RMB 0.8 billion, there is little pressure on project construction funds and it will not dilute shareholders’ equity.

We believe that relying on the increasingly strict global automotive exhaust emission standards, the environmental protection materials business will become the company’s stable source of future performance growth.

  The growth of OLED materials can be expected. The companies each have March Optoelectronics and Jiumu Chemical Doping Subsidiaries.

Jiumu Chemical successfully dated three strategic investors, Yantai Kunyi, Luxiao Group and Gaohui Technology, and tried to continue to improve the production technology level of OLED intermediates and pre-sublimation materials and consolidate its market share with the cooperation of the battle investment; MarchThe verification of OLED finished materials produced by optoelectronics has progressed smoothly in downstream manufacturers, and has entered the volume verification stage.

In the future, with the expansion of the application scale of OLED materials in the small-sized display field, the company’s OLED material business growth can be expected.

  Estimates and Ratings We maintain our profit forecast for the company. It is estimated that the company’s net profit attributable to its mothers in 19-21 will be 5 respectively.

22, 6.

10 and 6.

930,000 yuan, maintain “Buy” 合肥夜网rating.

Risk reminder: New projects fail to meet expected risks; OLED promotion falls short of expected risks; appreciation of renminbi reduces company’s revenue risks; National Six promotion falls short of expected risks

Xin Litai (002294): 6.

200 million introduction of global innovative drugs for renal anemia extends product line in chronic disease

Xin Litai (002294): 6.

200 million introduction of global innovative drugs for renal anemia extends product line in chronic disease

Event: The company announcement intends to cooperate with Japan Japan Tobacco Inc.

(JT) agreement to obtain the exclusive license to use the “Enarodustat” related intellectual property rights, technical information in the Chinese market (ie Mainland, Taiwan, Hong Kong and Macau Special Administrative Region) in the field of renal anemia indications.

This includes the product’s exclusive rights in the area of renal anemia indications, exclusive technology development, production, marketing, and commercial operation in the Chinese market.

According to the product development progress, the company will pay the research and development budget with self-raised funds, and the total amount will not exceed USD 87.5 million (equivalent to RMB 6).

200000000).

  Comment: Enarodustat is an innovative oral small molecule renal anemia drug, which is clinically developed in Japan.

  ”Enarodustat” is an oral small molecule global innovative therapeutic drug for renal anemia developed by JT (has a global patent), and is a hypoxia-inducible factor prolyl hydroxylase inhibitor (hypoxia-inducible factor-prolyl hydroxylaseInhibitor, HIF-PHI).
), HIF-PHI can promote bone marrow red blood cell regeneration by stimulating endogenous EPO production and other mechanisms, so as to achieve the purpose of treating renal anemia.

Currently, a phase III clinical trial has been completed in Japan, and the NDA was declared in November 2019. It is currently under review.

  Renal anemia, as a common complication of CKD, has a severely low awareness and treatment rate in China.

Renal anemia is an important complication for patients with chronic kidney disease (CKD), leading to a severe reduction in the quality of life of patients, an increased risk of death, and a risk of cardiovascular disease.

Data from a recent epidemiological survey show that the prevalence of CKD in the adult population has reached 杭州夜网论坛 10.

8%, about 1.

200 million people, more than 50% of whom have anemia.

The prevalence and severity of renal anemia are gradually increasing in different populations of CKD patients. CKD 1?
The prevalence of anemia in stage 5 patients was: 22 in order.

0%, 37.

0%, 45.

4%, 85.

1% and 98.

At 2%, the prevalence of anemia in diabetic and non-diabetic CKD patients was 98.

2% and 52.

0%.

However, the awareness rate of renal anemia in CKD patients is only 67.

5%, and the treatment rate is low, starting treatment late.

Treatment of anemia in non-diabetic CKD patients in the United States44.

9%.

Third, the rate of compliance with CKD anemia is low. Among patients with chronic non-diabetes, the rate of compliance with treatment is only 12.
.

At 1%, the rate of compliance with anemia in hemodialysis patients was only 21.

3%, and European and American national standards are still at the same level (European and American treatment compliance rate is 55% -77%).

  Traditional ESAs + iron combination therapy has toxic limitations and is not highly compliant.

At present, ESAs + iron combination therapy is the only clinical treatment for renal anemia for decades, but it still has certain limitations including: ① some patients show low response to ESAs, and the use of ESAs is overdose, leading to increased side effects,Increased mortality.

② ESAs can be painful when injected subcutaneously or intravenously. Patients have poor compliance and discontinuous treatment.

③Inflammation and other conditions affect the treatment of ESAs and iron.

④ Some CKD patients may produce EPO antibodies due to the use of externally-derived EPO, resulting in a poor response to EPO treatment and even triggering antibody-mediated aplastic anemia, which further worsens the condition.
⑤ The use of ESA will accelerate iron consumption in the body, leading to functional iron deficiency, increasing hepcidin levels, exacerbating iron utilization barriers, and increasing the need for iron supplementation.

⑥ Intravenous iron supplementation can not completely improve the condition of iron utilization disorder, but it brings adverse reactions such as acute allergic reactions, oxidative stress, etc. In the case of acute infection, intravenous iron supplementation is not recommended. ES alone is used as a treatment for renal anemia.The effect is very limited.

Therefore, better clinical medicines and alternatives are urgently needed.
  HIF-PHI is a new target for the treatment of renal anemia, and its “oxygen perception mechanism” is based on the restoration of the 2019 Nobel Prize in Physiology or Medicine.

HIF-PHI drugs are emerging treatments for renal anemia.

  HIF-PHI (hypoxia-inducible factor proline amide hydroxylase inhibitor) is a new mechanism innovative drug for the treatment of renal anemia.

Its mechanism of action is to inhibit the function of “proline amide hydroxylase” (PH) by simulating the hypoxic environment, eliminate the degradation of “hypoxia-inducible factor-α” (HIF-α), and make the body “erythropoietin”(EPO) production increases, thereby achieving the goal of relieving anemia.

The “Oxygen Perception Mechanism” on which Enarodustat is based awarded the 2019 Nobel Prize in Physiology or Medicine.

  Enarodustat has the advantage of earlier target drugs and is a “global new” drug.

The HIF-PHI drugs Enarodustat developed by Japan’s JT Corporation have the following advantages over ESAs and other drugs with the same target: ① Enarodustat has higher activity than drugs with the same target, and the actual dosage is small, which theoretically reduces the probability of adverse reactions;② The once-daily usage increases the hemoglobin more slowly; ③ The risk of drug interaction of Enarodustat is lower than that of the same target drug, and the induction and inhibition of CYP enzymes is small and reversible; ④ The kidney burden of Enarodustat is lighter thanWith the same target drug, only 11% of Enarodustat was excreted from the kidney, and 46% of the same target drug was excreted through the kidney.

⑤ In terms of treatment compliance, once a day, the appropriate continuous treatment with the target drug is performed every other day.

  The company continues to deploy global innovative drugs and is expected to exert synergies in the field of chronic disease treatment.

Obtained the exclusive rights of the product in the Chinese market (including Mainland China, Taiwan, Hong Kong and Macau Special Administrative Regions), and plans to start the Phase III clinical trial in China in 2020, and is expected to obtain production approval by the end of 2022.

  Payments include: 1) the first domestic clinical trial; 2) Enarodustat successfully approved for listing in Japan; 3) the first submission of a listing application in the Chinese market; 4) the first approval of the product in the Chinese market.

Through this cooperation, the company is expected to achieve clinical trial data in Japan and accelerate internal R & D progress; after listing, it will provide patients with more convenient and effective medication choices to better meet the clinical needs met in the field of renal anemia, andExtend and expand the company’s innovative drug product line, and quickly enrich the company’s innovative products in the field of chronic diseases.

At the same time, it is expected to gradually take the opportunity to strengthen international cooperation in the development of innovative drugs, integrate the advantageous resources of all parties, and exert synergies.

  Profit forecast and estimation: Although the volume purchase has a continuous impact on the company’s existing business, the company’s core advantages are still solid, and the company has the ability and ability to select innovative drugs globally.

As a leader in the domestic cardiovascular field, in the future, we will be committed to continuous innovation in the field of chronic diseases, and the product echelon will be gradually strengthened. A variety of innovative drugs such as alisartan and teriparatide have entered or are about to enter the harvest period.bright future.

Maintaining EPS 1 for 19-21 years.

12/0.

93/0.

98 yuan, an annual increase of -20% /-17% / 6%, corresponding to 20X PE for 20 years.

Maintain the “overweight” rating.

  Risk reminder: Progress in volume procurement exceeds expectations; new product promotion exceeds expectations.

Detailed interpretation of China Merchants Bank (600036) 2019 Interim Report: Steady progress new business model 3.0

Detailed interpretation of China Merchants Bank (600036) 2019 Interim Report: Steady progress “new business model 3.”0 ”
Investment Highlights Interim Report Highlights: 1. The growth rate of net profit maintained a steady two-digit upward trend, with a growth rate of ten years.1%.2. The expected decline in asset-side risk reflects the prudent characteristics: the increase in the share ratio in 1H19 has further decreased, and it is mainly invested in credit risk income bills, infrastructure, real estate, and leasing services; supplementary personal loans are on the strength of mortgages, and the proportionNew total loans increased to 27%.3. The interest rate of interest-bearing defects decreased by 1bp to 1 from the previous quarter.88%.4. Asset quality remains stable.Bad double decline, bad ratio dropped sharply 12bp from the previous month to 15 historical lows1.twenty three%.Provision coverage ratio was 31 points higher than the previous month to 394%.Insufficient interim reports: 1. The loan interest rate decreased by 8bp month-on-month, and the risk reduction is expected to be related at the same time; at the same time, the net interest margin fell by 3bp to 2.69%. The growth rate of net profit has maintained a steady two-digit increase. Revenue is based on a high base and at the same time, the growth rate is slightly affected by the combined effect of net index and net other non-interest. PPOP has earlier revenue under the background of increased management fees.The growth rate is further downward.1Q18-1H19 cumulative revenue growth rate was 7 respectively.2/11.6/13.1/12.4/12.1/9.5 averages, PPOP is 2.9% / 9.4% / 12.7% / 11.1% / 13.2% / 8.4%, net profit attributable to mother is 13.5% / 14% / 14.6% / 14.8% / 11.3% / 13.1%. 1H19 performance growth growth expectations: scale, interest margin, provisions and a reasonably positive performance contribution.The negative contribution factor is non-interest, cost.Taking a closer look at the changes in the contribution of various factors, the marginal contribution to performance has improved: 1. The growth rate of scale has increased compared with the previous quarter.2. Provisions and polycarbonate changed from negative to positive and contributed positively.The marginal contribution is attenuated: 1, the net interest margin is positively contributing to performance, but slightly inclined from the first quarter.2. The negative contribution of non-interest income increased.3. Management costs turned into negative contributions in the second quarter. Investment suggestion: We agree with China Merchants Bank ‘s cautious attitude. We judge the slow down of the macro economy is a gradual trend: China Merchants Bank ‘s indicators show its solid and excellent fundamentals. At the same time, China Merchants Bank ‘s strategy is strong.Can continue to deepen and adapt to the latest developments in fintech.China Merchants Bank has a high degree of “scarcity” in banking stocks and is worth holding for a long time.China Merchants Bank is an outstanding company that we focus on and recommend continuously.The company currently corresponds to 2019E and 2020E PB 1.61X / 1.43X; PE 10.27X / 9.14X (Share Bank PB 0.81X / 0.73X, PE 6.66X / 6.2X). Risk reminder: The macro economy is facing downward pressure, 青岛夜网 and performance management is less than expected.

Contemporary Mingcheng (600136) company annual report comment: 18 years of high net profit growth to create a sports marketing + sports copyright + sports platform + super IP full ecological chain

Contemporary Mingcheng (600136) company annual report comment: 18 years of high net profit growth to create a “sports marketing + sports copyright + sports platform + super IP” full ecological chain

The performance growth in 2018 was bright, and the financial operating conditions continued to improve.

In 2018, the company achieved operating income of 26.

70,000 yuan, an increase of 192 in ten years.

6%; net profit attributable to mother 1.

80,000 yuan, an increase of 38 in ten years.

9%, net profit of non-attributed mothers1.

500 million, a 36% increase in ten years.

Benefiting from the hosting of the 2018 World Cup, the company’s sports marketing business achieved high growth, and its subsidiary Double-Edged Sword Sports achieved revenue in 20186.

400 million yuan (+256 per year).

6%), to achieve a net profit of 1.

20,000 yuan (ten years +32.

7%), from one year to the second half of 2018, Xinying Sports consolidated and contributed net profit to the company.

10,000 yuan to improve the company’s overall operating performance.

The company’s operating cash flow has changed from negative to positive since 18Q3, and the net operating cash flow in 2018 was 2.

2 ppm, compared with the previous period, there is an improvement in contraction.

Due to the acquisition of Xinying Sports in 18 years, the company’s financial expense ratio has increased. At present, the company’s non-public issuance of A shares is actively underway. We believe that the company’s non-public issuance of A shares if the issuance is successful will ease the company’s financial pressureThe 北京夜生活网 company’s profit before interest, tax, depreciation and amortization in 2018 was 10.

30,000 yuan, an increase of 244 in ten years.

6%.

Film and television sector: Regarding the strong development momentum of the media, the supply side to reduce production capacity, the company’s film and television products usher in the era of quality victory.

In 2018, the company’s film and television subsidiary, Stark Media, achieved revenue10.

80,000 yuan (ten years +89.

9%), to achieve a net profit of 1.

40,000 yuan (ten years +12.

8%).

It is expected that the film and television industry will usher in supply-side de-capacity. In 2018, the number of TV drama production preparations will be replaced by the number of public announcements and episodes. We believe that the industry will move towards the era of “quality wins” in 苏州夜网论坛 the future.

In 2018, while continuing to strengthen cooperation with traditional media such as TV, the company also strengthened cooperation and exchanges with new video media platforms such as iQiyi.

In 2018, the company’s excellent script “Venom Hunter” has completed three rounds of rebroadcasting on the supplementary media platform. The single-day on-demand volume of online video has exceeded 400 million, the total single-day viewing volume has broken 3, the online satellite TV viewing rate has broken 2, and the total network broadcast volumeOver 9 billion, better playback effect.

At present, the company’s key film and television drama “If Time Can Turn Back” and “New Dragon Gate Inn” have been filmed and are in the process of distribution.

Repertory to the Daughter of Journey to the West, Celebrating the Year of Yu, and Xuan Wu are also in post-production. We expect to complete the distribution in 2019.

Sports sector: The top of the industry leader is solid, creating a high-quality sports industry ecological chain of “sports marketing + sports copyright + sports platform + super IP”.

The company’s double-edged sword, which specializes in sports marketing, has always maintained a high rate of growth.In 2018, it assisted 3 companies such as Yadi Group to become one of the 2018 FIFA World Cup Russia regional sponsors and assist Vantage Gas Appliances.Successfully sponsored the French national team, and the advertising planning and marketing effect was successful.

In 2018, the company successfully acquired Xinying Sports and entered the field of sports copyright. Xinying Sports has the full media rights of the La Liga 2017-2022 season, and the exclusive global business rights of the AFC matches in 2021-2028. The copyright content reserves are abundant.

At present, Xinying Sports and iQiyi have carried out in-depth cooperation to establish Xinai Sports. We believe that the company will develop a high-quality sports industry ecological chain of sports marketing + sports copyright + sports platform + super IP in the future.

At present, the company’s sports copyright B-end business model is clear. We believe that the company is expected to open the C-end discovery market through vertical platforms such as iQiyi Sports in the future.

Profit forecast and evaluation analysis.

We believe that the company’s film, television and sports marketing business is in a better development situation. The acquisition of Xinying Sports will cut into the copyright operation of upstream events, which will improve the company’s sports industry chain construction and increase its market influence in the sports industry.

We predict that the company’s EPS for 2019-2021 will be 0.

58 yuan, 0.81 yuan and 1.

00 yuan.

With reference to the company’s pathfinders in the same industry, Lisheng Racing, Hengdian Film and TV in 2019 unanimously predicted that the PE will be 33, 35, and 30 times, respectively. We give the company 25 times to 28 times the dynamic PE coefficient in 2019, corresponding to a reasonable value range of 14.

50-16.

24 yuan, maintaining the sustainable market rating.

risk warning.

Risk of impairment of goodwill, regulatory risk of film and television drama policy.

Hang Seng Electronics (600570): The rise of the new fintech giant

Hang Seng Electronics (600570): The rise of the new fintech giant

The basic strategic financial IT industry has entered a new innovation cycle. Hang Seng is leading the strategic layout and will strengthen its competitive advantage in the future.

Since 2015, new demands from financial institutions for RegTech and FinTech have emerged: reorganization, the need to update business systems for compliance and risk control needs, and upgrades to keep pace with changes in regulatory policies; alternatives, hoping for innovative technologies for business improvementEmpowerment.

Hang Seng’s strategic layout is always leading and continuing to deepen: in terms of supervision, keep up with policy trends, quickly launch risk management, institutional counters and other products to meet customer needs; technically, actively deploy cloud computing, artificial intelligence, blockchain, etc., and innovative businessIt has achieved rapid development, with a CAGR of more than 70% in the past three years.

We believe that the financial IT industry has high professional barriers and strong customer stickiness. The company is a leader in the industry and has a leading edge layout. It will strengthen its leading edge in the future.

  Hang Seng has leading product power, operating capability and continuous improvement of the ecosystem. It is the financial IT company with the most potential of 100 billion market value in China.

Referring to the rise of the international giant FIS, we believe that the competition of financial IT companies is a combination of product power, operation power and ecological power.

For Hang Seng, from a qualitative perspective, the company relies on the leading market structure (core products market share 50% -90%), years of industry understanding (22 years of business experience), deep technology accumulation (40% R & D ratio), Etc. have built high barriers in product power and operational power. At the same time, in terms of ecological structure, the company is changing from a closed business expansion model to an open, cooperative model. From a quantitative perspective, we believe that financial IT companies at this stageThe ecological value depends on seven factors: the number of customers, the number of scenarios, the frequency of product use, the degree of big data mining, the value of a single customer, the number of platform users, and capital leverage.

Hang Seng covers nearly 700 core customers, multiple business scenarios, single customer value exceeds 4 million, financial service platform GTN has accumulated more than 30,000 developers, serves 1000+ financial institutions and continues to promote the ecological layout through external investment.

We believe that after years of precipitation, the company’s product power and operating capacity are leading and it is beginning to rebuild the ecology. It is the financial IT company most likely to grow into a market value of 100 billion in China.

  For benchmarking international giants, Hang Seng still has a lot of room for growth. Looking at the scene for a long time, ecologicalization will become the company’s core development proposition.

In comparison, FIS, one of the world’s largest financial IT solution providers, has 20,000+ customers in 130+ countries around the world, covering 深圳丝袜会所 multiple business scenarios in the main financial sector. There are dozens of outsourcing acquisitions, all of which far exceed Hang Seng.

The current FIS revenue is as high as US $ 8.2 billion, and its market value is as high as US $ 37 billion, which is 17 times that of Hang Seng and 5 respectively.

5 times.

Looking at the domestic financial IT industry, Hang Seng has obvious leading advantages in both traditional business departments and innovative business layouts. It is the company most likely to become the next FIS, with huge room for growth.

In the long run, we believe that by attracting ecological partners to join and absorbing the development of ecological forces is an efficient way for Hang Seng to achieve overtaking in curved roads. Scenarioization and ecological development will become the company’s core proposition in the future.

  The value assessment and investment recommendations predict that the company’s net profit attributable to the mother in 19-21 will be 8.
.

3/10.

4/12.

800 million, EPS 1.

34/1.

67/2.

07 yuan, comprehensive SOTP and EV / (EBITDA + R & D) evaluation method, we believe that the company’s reasonable market value of 67.4 billion US dollars, given a target price of 110 yuan, raised to “Buy” rating.

  Risk reminder: The improvement of internal management is less than expected; the implementation of regulatory policies is less than expected; the development of innovative technologies is less than expected; the IT expenditure of financial institutions is less than expected; the company’s external investment and cooperation with Ant Financial Services are less than expected; the potential risks of investment income and benefits;Event “impact.

Evening Announcement Scenic Spot Tracking: 15 BOE Supervisors Promise Not to Reduce Shares

Evening Announcement Scenic Spot Tracking: 15 BOE Supervisors Promise Not to Reduce Shares

For stocks, please read Jin Qilin analyst research report, authoritative, professional, timely, and comprehensive, to help you tap potential potential opportunities!

  [BOE A: 15 Dong Jiangao promised not to reduce the company’s shares]BOE Chairman Chen Yanshun, Vice Chairman Liu Xiaodong and a total of 15 Dong Jiangao issued a letter of commitment on not reducing the company’s shares: in its directors, supervisorsDuring the period of senior executives, and within 6 months after the term expires, do not reduce or transfer all of their BOE A shares, do not entrust others to manage specific shares, and do not pass agreements, trusts or any other arrangements to the corresponding sharesVoting rights are granted to others, and the company is not required to repurchase specific shares.

  Reorganization and Issuance[Sunrise Group: Adjusting the Non-Public Issuance of Share Plans]Nissho Group’s Issuance Method and Issuance Time of Issuance of Non-public Issuance Share Plans, Number of Issuances, Issuance Objects and Subscription Methods, Pricing Base Date and Issuance Price and Restrictions on Issuing SharesSale period is adjusted.

Among them, the issue price was adjusted to not less than 80% of the average price of the company’s stock trading 20 trading days before the pricing reference date.

Sunrise Group plans to raise funds this time7.

1 ppm, invested in intelligent manufacturing of lightweight forged aluminum alloy wheels.

  [Reluctant Wine Industry: Adjusting the Proposal for Proposed Increase of Funds to Not More Than $ 2.5 Billion]Reluctant Wine Industry Revises the Non-public Issuance of Stocks.

Among them, the issue target is adjusted to include a total of 35 specific shareholders within the company’s shareholders; the pricing method is adjusted to be no less than 80% of the average price of the company’s stock trading 20 trading days before the pricing reference date; the lock-up period is adjusted toThe stocks subscribed by the group cannot be transferred within 36 months, and the stocks subscribed by other issuers cannot be transferred within 6 months.

The total amount of funds raised by the company this time does not exceed 2.5 billion.

  [Xiantan Shares: Revising the 2020 Non-public Issuance of Shares Plan].

After the amendment, the issue price shall not be lower than 80% of the average trading price of the company’s stocks in the 20 trading days before the pricing reference date, the issue target shall not exceed 35 specific investors, and the issue amount shall not exceed 30% of the total share capital of the company before the issue, that is, not exceed1.

3.9 billion shares.

The fundraising budget does not exceed 1.4 billion U.S. dollars and the proposed annual output is 1.

Ecological project of 200 million broilers.

  [Fei Rongda: Adjusting the Non-public Issuance of Stocks Program]Fei Rongda’s offering price and pricing principles in the non-public offering of stocks, adjustments of the issue objects and subscription methods, and restricted sales period adjustments, in which the issue price is adjusted to be no less than the pricing benchmark80% of the average trading price of stocks in the previous 20 trading days.

Fei Rongda raised 700 million US dollars in this fixed increase plan to invest in 5G communication device industrialization projects and supplement working capital.

  [Shubeide: Revising the Non-public Issuance of Shares Scheme]Shobeide amends the issuance methods, pricing principles and issue prices, number of issuances, issuance targets, restricted sales periods, and applicable reductions in the non-public issuance scheme., Where the issue price is revised to be no less than 80% of the average price of the company’s stock trading 20 trading days before the pricing benchmark date.

Sobead will raise no more than 6 this time.

USD 800 million, invested in 5G base station and terminal antenna expansion construction projects.

  [Tongfu Microelectronics: planned to raise an additional 4 billion US dollars to build integrated circuit packaging and testing projects]Tongfu Microelectronics: To raise an additional 4 billion US dollars to build integrated circuit packaging and testing projects such as center construction, efficient CPUs, etc.IC packaging and testing projects, supplementing working capital and repaying bank loans.

The issue object does not exceed 35 specific objects, and the issue price does not exceed 80% of the company’s stock transaction average price 20 trading days before the pricing reference date.

  [Neptune Bio: planned to issue 500 million US dollars in epidemic prevention and control debts]To further ensure the company’s supply of medical institutions ‘medicines, equipment, medical consumables and other materials, and to ensure the company’s efficient and stable supply of medical institutions’ epidemic prevention materials during the new coronavirus pneumoniaIn order to meet the company’s operating capital requirements, Neptune intends to apply for the non-public issuance of short-term corporate bonds (debt prevention and control bonds) for qualified investors with an issue size of no more than 500 million yuan.

  [Huaxia Happiness: It is planned to publicly issue corporate bonds not exceeding US $ 5 billion]Huaxia Happiness intends to publicly issue corporate bonds not exceeding US $ 5 billion for repayment of remaining debts and debts, and to supplement working capital and other purposes.

  [Langxin Technology: Proposed Issuance of Convertible Debts to Raise Funds Not Exceeding US $ 800 Million]Langxin Technology intends to publicly issue convertible corporate bonds to raise funds not exceeding US $ 800 million, investing in energy IoT system construction projects, and Langxin Cloud R & D projectsAnd replenishing liquidity.

  Significant event[Zhejiang Dongri: Adjusting the transfer price of 100% equity of Wenzhou Dongri Real Estate Company]Zhejiang Dongri decided to adjust the listing transfer price of 100% equity of Wenzhou Dongri Real Estate Development Co., Ltd.

The listing price introduced this time is 104 million yuan, a reduction of about 5% of the estimated price, and the remaining listing conditions are consistent with the initial listing conditions.

  [Changbao Shares: Shareholder-appointed director Chen Donghui is criminally offended]Changbao Shares received a notice from Shanghai Jiayu Medical Investment Management Co., Ltd., a shareholder holding more than 5% of its shares, and the director Chen Donghui assigned to the company was suspected of embezzlement.He was summoned by the Public Security Bureau of Huangpu District in Shanghai and criminally prosecuted in accordance with the law. Related matters are yet to be further investigated by the public security organs.

Chen Donghui does not receive remuneration from the company and does not participate in the company’s specific operating management policies.

Chen Donghui’s criminal detention will not adversely affect the company’s operations.

  Investment and operation[Gold and Molybdenum Shares: The proposed 300 million yuan investment in Jilin Tianchi Molybdenum Industry]Jin Molybdenum Shares plans to invest in Jilin Tianchi Molybdenum Industry Co., Ltd. with an investment of 300 million yuan.

After the shareholding, the company’s equity ratio was 18.

2967%.

Jilin Tianchi Molybdenum Industry has Jied Molybdenum Mine in Shulan City, Jilin Province, with a filed reserve of 22,457 tons of ore and 253,931 tons of molybdenum metal, with an average grade of 0.

113%.

The design mining method is open-pit mining, with a production scale of 825 tons / year.

  [Zhejiang Zhenyuan intends to use 6146.

380,000 yuan, subscribed for the capital increase of Shaoxing Bank in 1995.

580,000 shares, the subscription price is a minimum of 3.08 yuan.

After the subscription is completed, the company’s shares in Shaoxing Bank will increase to 5883.

580,000 shares.

After the capital increase and share expansion, the total share capital of Shaoxing Bank will reach 35.

3.8 billion shares.

  [TBEA: Subsidiary crystalline silicon company will gain 600 million value-added]Xinjiang TBEA subsidiary of TBEA Xinjiang Xinte Crystal Silicon High-tech Co., Ltd. will receive Urumqi strategic emerging industry new special energy guidance fundCapital increase of 600 million yuan.

The fund was jointly established by Xinte Energy and Urumqi Industry Guided Private Equity Fund.

After the capital increase, Xinte Energy’s shareholding in crystalline silicon company will be 92.

34% recovered 68.

65%.

The capital increase will promote the company to gradually improve the quality and silicon-based, zirconium-based industrial chain extension development.

  [Tianyuan Group: Proposed strategic investor of subsidiary Tianyi New Materials]Tianyuan Group ‘s wholly-owned subsidiary Tianyi New Materials intends to add value and concurrently invest in strategic investors. The capital increase is planned to be 300 million to 400 million. The capital increase is mainly used forConstruction of three PVC-0 pipeline projects with an annual output of 1,000 square meters of high-end ecological and environmental protection intelligent flooring projects.

At present, the company has received letters of intent to subscribe to Yibin Xinxing Industry Investment Group Co., Ltd. and Yibin Tiangong Machinery Co., Ltd., and intends to subscribe for 200 million yuan and 0 yuan, respectively.

800 million yuan.

  [Bohai Leasing: Subsidiary sells aircraft leasing assets for USD 5 billion]AALL, a wholly-owned subsidiary of Bohai Leasing Holding, intends to sell 21 aircraft leasing assets with leases to Sapphire Aviation II at a basic transaction price.

US $ 2.6 billion, equivalent to about 50 yuan.

8.7 billion US dollars, the actual transaction price will be adjusted based on aircraft delivery costs, delivery time, etc.

Bohai Leasing also announced that HNA Capital, the controlling shareholder, terminated the implementation of the plan to increase its holdings.

  [Healthyuan: clinical trial application approval for advanced solid tumor treatment drugs was revoked]Recently, the clinical trial application for “Recombinant tumor enzyme interferon alpha-2bFc fusion protein for injection” declared by Healthyuan Holdings’ subsidiary Livzumab was approved by the State Drug AdministrationSecretary.

The drug is intended for the treatment 苏州桑拿网 of advanced solid tumors, thereby combining existing therapies and / or tumor immunotherapy to further improve its antitumor effect.

At present, there are no similar cytokine prodrug products on the market and declared clinical at home and abroad.

  [Nanwei Software: Successful bid for Hainan Provincial Intelligent Auxiliary Case Management System Project]Nanwei Software: Successful bid for Hainan Provincial Intelligent Aid System for Criminal Aid, with a winning bid of 30.9 million.

The successful bid of the project reflects the company’s comprehensive competitiveness in the field of smart politics and law, which is conducive to enhancing the company’s brand influence.

  [Mike Bio: New Coronavirus Nucleic Acid Triple Detection Kit Enters Emergency Approval Channel]At present, the new Coronavirus (2019-nCoV) nucleic acid triple detection kit developed by Mike Bio has entered the emergency approval channel; new 天津夜网 Coronavirus IgG and IgM antibody detectionThe kit (direct chemiluminescence method), a new coronavirus (SARS-Cov-2) IgG / IgM antibody detection kit (colloidal gold method) is currently in clinical validation.

  [Dongfeng: The company and its wholly-owned subsidiaries have been recognized by emerging companies]Dongfeng has recently received a reply from the Office of the National Emerging Enterprise Identification Management Leading Group Office. The company and its wholly-owned subsidiaries Guangdong Xinrui and Guangdong Kevin were identifiedIt is the first batch of emerging enterprises in Guangdong Province in 2019.

It is determined that within three years (2019-2021), the state will enjoy preferential tax policies on emerging enterprises, that is, the enterprise income tax will be reduced at a tax rate of 15%.

  [Liantai Environmental Protection: Obtaining a Utility Model Patent Certificate]Recently, Luen Thai Environmental Protection received a utility model patent certificate submitted by the State Intellectual Property Office, which is an integrated equipment for ground-level domestic sewage treatment.

The above patents help the company to form a continuous innovation mechanism, protect the company’s product technology leadership, and enhance the company’s core competitiveness.

  [Lizhu Group: Approved Alternatives for Clinical Trials of Innovative Drugs]Lizhuzumab, a subsidiary of Livzon Group Holding, states that “recombinant tumor enzymes for injections replace interferon α-2bFc fusion protein” (referred to as “A-01”) The clinical trial application was sanctioned by the State Drug Administration.

A-01 is a global innovative drug that predicts the development of a long-acting replicative cytokine prodrug. The antitumor mechanism of cytokine active ingredients is to exert their biological activity by binding to specific membrane receptors.

  [Ping An of China: Premium income in January was 1,427.

US $ 5.6 billion}In January, Ping An Property & Casualty Insurance, Ping An Life, Ping An Annuity and Ping An Health’s original insurance contract premiums totaled 1,427.

5.6 billion yuan.

The company also announced that it is proposed to convene a general meeting of shareholders and approve a budget for additional H shares, granting the board of directors a general mandate to allot, issue and deal with new H shares not exceeding 20% of the company’s issued H shares.The base price discount (if any) does not exceed 10%.

  Performance[Sate New Materials: 2019 net profit increased by 82 in ten years.

79%]Sete New Materials achieved revenue of 400 million yuan in 2019, an annual increase of 30.

22%; realized net profit of 74.33 million yuan, an annual increase of 82.

79%; Yield 1.

24 yuan.

  [Bai Chu Electronics: In 2019, the net profit increased by 70 in ten years.96%]Bai Chu Electronics achieved revenue in 20193.

76 trillion US dollars, an annual increase of 53.

3%.

Realize net profit 2.

3.8 billion US dollars, an annual increase of 70.

96%; basic income 2.

86 yuan.

  [Great Wall Securities: Net profit in 2019 increased by 69% in ten years]Great Wall Securities achieved operating income of 38 in 2019.

9.9 billion, an annual increase of 41.

62%; Net profit 9.

USD 9.2 billion, an annual increase of 69.

4%; basic income is 0.

32 yuan.

  [Lihua Co., Ltd .: Net profit in 2019 increased 52% in ten years]Lihua Co., Ltd. achieved total operating income of 88 in 2019.

8.3 billion, an annual increase of 23.

13%; Net profit 19.

7.3 billion, an annual increase of 51.

79%; basic income 4.

97 yuan.

  [Haier Bio: 2019 net profit increased by 59 in ten years.

76%]Haier Biological has achieved revenue of 10 in 2019.

1.3 billion, an annual increase of 20.

3%.

Realize net profit 1.

8.2 billion, an annual increase of 59.

76%; basic profit return is 0.

73 yuan.

  [Anche Inspection: Annual net profit increase of 51% in 2019]Anche Inspection realized total operating income of 9 in 2019.

7.3 billion, an annual increase of 84.

3%; Net profit 1.

USD 8.9 billion, an annual increase of 50.

51%; basic profit return is 0.

98 yuan.

  [Lepu Medical: Net profit in 2019 increased by 41% in ten years]Lepu Medical achieved revenue of 77 in 2019.

54 ppm, an annual increase of 22%; net profit of 17.

$ 2.2 billion, an increase of 41% per year; zero income in ten years.

97 yuan.
  [Anjing Food: Net profit in 2019 increased by 38% in ten years]Anjing Food achieved revenue of 52 in 2019.

6.7 billion, an annual increase of 23.

66%; net profit achieved 3.7.3 billion, an annual increase of 38.

14%.

Basic benefits 1.

67 yuan.

  [Pengyu shares: 2019 net profit increased by 21 in ten years.

45%]Pengyu shares realized revenue of 1.6 billion yuan in 2019, an increase of 9 per year.

72%; realized net profit 1.

4.3 billion, an increase of 21 every year.

45%.

Basic income is 0.

24 yuan.
  [Mona Lisa: 2019 net profit will increase by 20 per year.

3%]Mona Lisa achieved revenue of 3.8 billion yuan in 2019, an increase of 18 per year.

57%, achieving net profit of 4.

3.6 billion, an annual increase of 20.

30%, basic income 1.

08 yuan.
  [Shanghai Airport: Net profit in 2019 increased by 18 in ten years.

88%]Shanghai Airport achieved revenue of 109 in 2019.

$ 4.5 billion, an increase of 17 per year.

52%; realized net profit of 50.

3 ten percent, an increase of 18 per year.

88%; basic income 2.

61 yuan.

  [Fangbang shares: 2019 net profit increased by 15 in ten years.

45%]Fangbang shares realized revenue in 20192.

9.2 billion, an annual increase of 6.

24%; net profit 1.

35 trillion US dollars, an annual increase of 15.

45%; basic return 1.

98 yuan.
  [Jiahe Intelligent: Net profit in 2019 will increase by 11% in ten years]Jiahe Intelligent achieved revenue of 22.

60,000 yuan, an annual increase of 67.

75%; realized net profit 1.

23 trillion, an increase of 11 in ten years.

03%; basic profit income is 0.

93 yuan.

  [Oak shares: 2019 net profit increased by 9 in ten years.

07%]Oak’s 2019 revenue is 62.

8.2 billion, a decline of 15 per year.66%, realized net profit3.

5.5 billion, an annual increase of 9.

07%.

Basic income is 0.

52 yuan.

  [Engrave: 2019 net profit declines by 72 each year.

7%]Youku achieved revenue of 15 in 2019.

1.2 billion, an annual increase of 27.

4 %%; realized net profit of 21.07 million yuan, a year-on-year decrease of 72.

7%; basic income 0.

06 yuan.

  [Dongcheng Pharmaceutical: Net profit declines 45% annually in 2019]Dongcheng Pharmaceutical has achieved revenue of 30.

2.2 billion, an annual increase of 29.

56%; realized net profit1.

5.4 billion, down 44 from the previous year.

94%, basically 0 benefits.

19 yuan.

  [Great Wall Motor: 2019 net profit declines by 13 each year.

73%]Great Wall Motor achieved revenue of 964.

5.5 billion, down 2 every year.

80%.

Realized net profit 44.

9.3 billion, down 13 each year.

73%.

Basic income is 0.

49 yuan.

  Increase and decrease of shares[Long Man Bailey: Connected executives intend to reduce the company’s shareholding no more than 4.

38% shares]Tan Ruiqing, deputy chairman of Longman Baili, executive vice president and director of personnel management and Benliu, plans to reduce the company’s total shareholding by no more than 8904 through centralized bidding and block trading in the next 6 months.

400,000 shares, accounting for 4 of the company’s total share capital.

38%.

  [YuXin Technology: Yuanchuang Gene and Light Control Gene intend to reduce their holdings by no more than 3%]Yuanchuang Gene and Light Control Gene plan to reduce their holdings of Yuxin Technology by a total of 1200 in a centralized bidding and bulk transaction.

30,000 shares, accounting for 3% of the company’s total share capital.

  [Beida Pharmaceutical: Jihe Venture Capital plans to reduce its holdings by no more than 2.

95% shares]Betta Pharmaceuticals holds 14.

33% of the shareholders, Jihe Venture Capital, plan to reduce their holdings of the company’s shares by no more than 11.82 million shares, which is no more than 2 of the total share capital.

95%.

In addition, due to the cancellation of the concerted action relationship, the actual controller of the company was changed from Ding Lieming and Yinxin Wang to Ding Lieming.

The release of the concerted action relationship this time will not cause changes in participation and will not adversely affect the company’s daily business activities.

  [Desheng Technology: Some directors plan to reduce their holdings by no more than 1.

59% of shares]Desheng Technology recently received notices from directors Liu Junfeng and Li Zhu. The two are planning to reduce their total holdings of the company’s shares by no more than 3.19 million shares through centralized bidding, block transactions or agreement transfers.1.59%).

  [Bishuiyuan: The controlling shareholder intends to reduce its holdings by no more than 1.

42% of the shares]Bi Jianyuan, the controlling shareholder, chairman Wen Jianping plans to reduce the company’s shareholding by no more than 45 million shares in 6 months by centralized bidding, block trade or a combination of them, that is, no more than 1 of the company’s total share capital.

42%.

  [Longma Information: Shareholders intend to reduce the company’s holdings by no more than 1.

18% shares 2]Longma Information holds 7.

11% of shareholders Jin Guowen plans to reduce holdings of the company’s shares by no more than 4 million shares (1.
.

18%).

  [SuperMap Software: The actual controller and general manager intends to reduce their holdings by no more than 1.

11% of shares]Chaotu Software’s controlling shareholder, actual controller and chairman Zhong Ershun, director, general manager Song Guanfu, plans to reduce the total number of shares in the company to no more than 5 million shares in 6 months through centralized bidding or block trading., That is, no more than 1 of the company’s total share capital.

11%.

  [Longhua Technology: The two actual controllers plan to reduce their holdings by no more than 1% of the shares]Longhua Technology’s controlling shareholder, the actual controller, Li Zhanqiang, Li Mingqiang plans to reduce the company’s shares by no more than 9 million shares through centralized bidding or block trading.That is, it does not exceed 1% of the total share capital of the company after excluding the repurchased shares.

  [Nanhua Instruments: The actual controller plans to reduce its shareholding by no more than 1%]Nanhua Instruments holds 14.

3% of the company’s actual controller, Yang Yaoguang, plans to reduce its holding of 790,000 shares in the company’s centralized bidding within 6 months (accounting for 1% of the company’s total share capital after excluding the number of shares in the company’s special account for repurchase).

  [Longhua Technology: The controlling shareholder plans to reduce the company’s shares by no more than 18 million shares]Longhua Technology’s controlling shareholder, the actual controller, Li Zhanqiang, Li Mingqiang plans to reduce the company’s shares by no more than 9 million shares through centralized bidding or block trading.That is, a total of 18 million shares, neither of them reduced their shareholdings by more than 1% of the company’s total share capital after excluding the repurchased shares.

  [Shengtian Network: Chuangfufu Nebula Fund intends to reduce its holdings by no more than 1%]Shenzhen Chuangfu Zhaoye Financial Management Co., Ltd., a shareholder holding 5% of the shares of Shengtian Network, plans to start from 3From May 13 to June 13, through block transactions, the centralized bidding transaction reduced the company’s shares by no more than 2.4 million shares, that is, no more than 1% of the company’s total shares.

  [Midland Group: intends to repurchase 40 million to 80 million shares with a repurchase price not exceeding 65 yuan / share]Midea Group’s repurchase period disclosed in February last year has expired and implementation has been completed. The company now proposes a new repurchase plan: repurchaseThe number is 40 million shares to 80 million shares, the repurchase price does not exceed 65 yuan / share, and the repurchase amount is expected to not exceed 5.2 billion yuan.

  [Tao Li Bread: Employee Stock Ownership Plan Completes Stock Purchase at a Cost of Approximately $ 400 Million]Finally, Tao Li Bread’s 2020 employee stock plan will gradually buy 1159 through the secondary market.

760,000 shares, accounting for 1 of the company’s total share capital.

76%, with a total transaction value of about 400 million yuan and an average transaction price of 34.

49 yuan / share.

The company’s employee shareholding plan for 2020 has completed stock purchases with a lock-up period of 36 months.

  [Precision Forging Technology: Planned 100 million to 200 million share repurchases]The shares to be repurchased by Precision Forging Technology are used for the subsequent implementation of employee stock ownership plans or equity incentive plans. The maximum amount of funds for repurchasing shares does not exceed 100 million yuan.Not more than 200 million, and the repurchase price does not exceed 17.
.

8 yuan / share.

  [Yuanwanggu: Proposed 50 to 1 trillion share repurchases]Yuanwanggu intends to repurchase shares as an allocation incentive plan or employee shareholding plan. The total amount of repurchased funds does not exceed 50 million yuan and does not exceed 100 million yuan.The repurchase price does not exceed 15 yuan / share.

  Other matters[Yutong Bus: received the National New Energy Vehicle Promotion Supplement USD 1.7 billion]On the same day, Yutong Bus received the National New Energy Vehicle Promotion Supplement transferred by Zhengzhou Finance Bureau.

17 trillion, which is part of the termination of the new energy vehicle purchase customers sold by the company on December 31, 2018 and gradually shifting mileage of 20,000 kilometers, shall enjoy the accounts receivable corresponding to the promotion subsidy.

  [Institute of Electric Science: Donated 2 million to fight the epidemic]The Institute of Electric Science effectively expanded the social responsibility of listed companies, and used its own funds to donate 2 million yuan to the Red Cross Society of Wuzhong District, Suzhou City on February 20, 2020, specifically for “Fighting the Pneumonia Epidemic of a New Coronavirus Infection.

  [Jiaying Pharmaceutical: donated 105 million supplies to fight the epidemic]Jiaying Pharmaceutical took the initiative to assume and merge the social responsibility of listed companies, co-existing with the Red Cross Society of Meizhou City, Guangdong Province, and the Red Cross Society of Xingning City, Guangdong Province, valued at RMB 1.05 millionUrgently needed supplies to support the fight against the epidemic.

  Trading suspended from the next trading day: No trading resumed from the next trading day: No

Northbound Funds Over 30 Billion Funds, A Shares of Pharmaceutical Shares Are Continuously Reduced

Northbound Funds Over 30 Billion Funds, A Shares of Pharmaceutical Shares Are Continuously Reduced

For stocks, please read Jin Qilin analyst research report, authoritative, professional, timely, and comprehensive, to help you tap potential potential opportunities!

  Original title: More than 30 billion yuan in funds for the Northbound A-share medical shares have been continuously reduced holdings Securities Times reporter Mao Jun This 杭州桑拿网 week is the first trading week of the Year of the Rat. Affected by the pneumonia epidemic, the value of the A-share market has fluctuated.

Firstly, it was panic-sold on Monday. More than 3,000 stocks in the two cities fell, and then rebounded continuously with the promotion of funds. The GEM index not only regained its lost ground, but also hit a new high in more than three years.

Amidst the market quake, the operation of Northbound Capital is both bold and decisive, yet stable, and worthy of investors’ possession.

  When Monday ‘s plunge, Kitakami ‘s funds actually made a net purchase of 18.2 billion, making it the second largest single-day net purchase in history.

Financing customers sold 114 million net and sold their chips at the lowest price.

When the market rushed up, when some of the funds from the north started to profit, the financing customers began to buy again.

In total, the capital of the Northbound Group has net purchases of more than 30 billion yuan in the whole week, which is the third largest weekly net purchase in history, and financing customers have sold more than 3 billion yuan.

  In terms of the types of stocks to buy, Kitakami Capital and Financing Customers are also quite different.

Of the 28 first-tier industries in Shenwan this week, only nine have received financing for net purchases, and most of the money is concentrated in the pharmaceutical and biological industries.

The pharmaceutical and bio-industry received a total of 49 net purchases this week.

USD 5.9 billion, more than the total net purchases of financing in the next eight industries.

But Beishang Fund is not prominent in the purchase of popular medical and biological stocks. In Guizhou Moutai, Gree Electric, Ping An of China, Ningde Times, Shanghai Airport, Yili Stock, China National Travel Service, Wuliangye, 8 were net purchased by Beishang Fund this week.None of the million-dollar stocks is directly related to the outbreak.

Beishang Capital has selected the leading companies in various industries for the bottom-up, so that it can avoid the risk of market fluctuations and enjoy short-term excess returns, which is a strategy that can be attacked and retreated.

Fingers chasing attractions may gain more profits in the short term, but once the epidemic is stable, referring to the SARS epidemic, pharmaceutical and biological stocks will face huge risks, and financiers are high-risk and high-yield speculation.

  China Resources announced on the 9th and 9th that the company’s traditional Chinese medicine product Shenfu Injection and Shengmai Injection have entered the “Pneumonitis Diagnosis and Treatment Program for New Coronavirus Infection (Trial Version 4)” and are recommended for use.

In order to win the battle against epidemic prevention and expand the social responsibility of central enterprises, during the Spring Festival, the company made emergency deployments, quickly adjusted its production plan, prioritized the production of epidemic prevention varieties, and guaranteed the supply of medicines.

China Resources Sanjiu has a proper mainstream anti-pneumonia epidemic concept stock, but Kitakami Capital has continuously reduced its holdings of China Resources Sanjiu this week. Among them, it reduced 8.14 million shares on Monday, 4.11 million shares on Tuesday, and 7.25 million shares on WednesdayReduced holdings of over one million shares in 3 days. The holdings were reduced from more than 100 million shares before the holiday to 80.6 million shares. The total reduction was more than 20 million shares and cash was realized.

6.2 billion.

  Before the holiday, Beijing Capital has reduced its holdings of China Resources 39 for four consecutive trading days. After the holiday, it has taken advantage of growth opportunities to increase its holdings.

  Zhifei Bio-Tech also announced recently that its wholly-owned subsidiary Zhifeilong Coma and the Chinese Academy of Sciences ‘Microbiological Infection Framework Agreement will accelerate the development of a new coronavirus (2019-nCoV) vaccine.

It is also an authentic concept stock of anti-pneumonia epidemic, but Kitakami Capital also severely reduced its holding of Zhifei creatures this week, with a total net sale of 2.

4.2 billion yuan.

  Due to the spread of the epidemic, the demand for epidemic-resistant and anti-epidemic related products soared, Yuyue Medical’s disinfection and control, temperature measurement, oximeter and mask products were completely out of stock, and the market demand for ventilator, nebulizer and oxygen generator products increased continuously.

However, Beishang Capital also continuously reduced its holdings of Yuyue Medical this week, replacing 23.34 million shares with 31.77 million shares before the holiday, reducing its daily holdings by more than one million shares, totaling 2 北京spa会所 cash.

3.7 billion yuan.

  The medical shares of Tiger Pharmaceuticals, Yixintang, People’s Tongtai, and Baiyunshan were also sold over 100 million yuan this year by Beijing Capital.

Harbin Pharmaceutical, Uni-Phase Pharmaceuticals, Ogilvy Medical, People’s Tongtai, and other strong stocks that have daily limit daily after the holiday. Most of the funds going north are also holding down.