Long Mang Bai Li (002601) Research Briefing: Titanium Dioxide Boom High Chlorine Production Capacity Meets Rapid Growth

Long Mang Bai Li (002601) Research Briefing: Titanium Dioxide Boom High Chlorine Production Capacity Meets Rapid Growth
First, analyze and judge the merger and acquisition of Xinli Titanium, the company’s production capacity of chlorinated titanium dioxide has achieved rapid growth. The company plans to start with 8.US $ 2.9 billion bid for Xinli Titanium held by Yunye Group.10% equity and 52.100 million claims and need to bear 1.6.9 billion historical legacy costs.Xinli Titanium’s planned production capacity is 6 injections of titanium chloride, 1 sponge sponge titanium, and supporting 6 injections of high titanium slag. Xinli’s overall production line is advanced, with reasonable planning and complete supporting facilities.The acquisition will enable the company to quickly replenish the production capacity of 100,000 chlorinated titanium dioxide, and the 20 chlorinated chlorination method of the company’s headquarters can also be gradually put into production. It is expected that the TiO2 production capacity of the company will reach the standard 100 years / year by 2020, compared with 2018An increase of more than 60%.At that time, the company’s production capacity will rank first in China and third in the world. Sponge titanium + high-end titanium alloy, the layout of the titanium industry chain is becoming more and more perfect, and it will become a new performance growth point. The company is committed to the entire industry chain operation of the titanium industry.On the upstream side, the company adopted the “strategic 无锡桑拿网 cooperation framework agreement” with Anning Titanium Titanium for the purchase of titanium concentrates in the 1950s, and the construction of a “50 tons of titanium concentrate upgrade and conversion titanium chloride slag innovation project” in Yanbian, Panxi.Is committed to ensuring the supply of raw materials.On the downstream side, the company plans deep-processing projects for high-end titanium materials.2019.4.8. The company announced plans to invest 19.USD 800 million to build 3 high-end titanium alloy new material projects with a construction period of 2 years.And this acquisition of Xinli Titanium has a capacity of 1 ton of sponge titanium, which is the raw material of titanium alloy. This merger can help the company to improve the layout of the titanium industry chain and play a synergistic role in the production of titanium dioxide. On the other hand,Sponge titanium and high-end titanium alloys have higher added value. In the future, high-end titanium materials will become the company’s new performance growth point. Titanium dioxide has a good supply and demand pattern and a high degree of prosperity. Supply side: Domestic sustainable new sulfuric acid method titanium dioxide production capacity. Due to the serious environmental protection and other factors, domestic sulfuric acid method production capacity has shown a contraction trend overall; while chloride process technology has high technical barriers to supplement production capacity and is limited, only Longman in listed companiesBaili has a 6-year / annual chlorination capacity. Except for the company, the global titanium dioxide leading companies have almost no new capacity in the short term.Demand side: Domestic is relatively stable, and exports will continue to grow.Due to the above multiple factors, the overall supply and demand pattern of titanium dioxide has shown a good trend.In February and March, the company has raised the offer of titanium dioxide for two consecutive times, raising the total by 1,000 yuan / ton (exports are raised by 200 US dollars / ton), indicating that the industry has a high degree of prosperity.Second, the investment proposal estimates that the company’s EPS for 2019-2021 will be 1.49, 1.90, 2.33 yuan, the corresponding PE is 10.7X, 8.4X, 6.9X, with reference to the Shenwan Chemical Index dynamics about 16 times the PE level, maintaining the “recommended” level.Third, risk warning: Titanium dioxide price fluctuated more than expected, bidding for new legislation, and the progress of the chloride process capacity delivery exceeded expectations.

Suning Tesco (002024): Transfer of Suning Xiaodian Group to continue to cultivate the company’s full scene layout

Suning Tesco (002024): Transfer of Suning Xiaodian Group to continue to cultivate the company’s full scene layout
Announcing the semi-annual results for 2019: In the first half of 2019, the company expects to realize net profit attributable to mothers of RMB 2.1 to 2.3 billion, and net profit attributable to mothers will decrease by 65 compared with the same period last year.02% -61.69%.Excluding the increase in net profit brought by the operating restructuring and equity transfer of Suning Xiaodian in the first half of 2019, the company’s net profit attributable to shareholders of listed companies in the first half of 2019 is expected to be 8.7 ppm-10.7 ppm; as a result of the company’s sale of some Alibaba shares in the same period of 2018, a net profit of RMB 56 was achieved.10,000 yuan. In the first half of 2018, the net profit attributable to the mother was 6 billion yuan. If the profit impact caused by the sale of Alibaba shares is not considered, the company’s net profit attributable to shareholders of the listed company is about 4.20,000 yuan, an increase of 37 in ten years.95%, non-net profit deducted 0 in the first half of 2018.3.3 billion.  The sale of the Suning shop with stage defects, which is an important part of the company’s overall 杭州桑拿网 scene layout, has experienced a year of rapid development and entered the stage of operation optimization and model optimization, but it is still in a staged stage. The report is based on the company’s overall development.The strategic plan is to complete the transfer of the equity of Suning Store to the participating company SuningSmartLife Holding Limited at the end of June 2019, increasing the company’s net profit by approximately 34.2.8 billion.Set up a more flexible capital operation platform for the Suning store, reduce the company’s capital expenditures, and expand financing channels.At the same time, the Suning store will also maintain a high degree of strategic synergy with the company’s business. The two sides have established close cooperative relationships in user drainage, marketing promotion, product procurement, 杭州桑拿网 logistics services, etc., especially in the years of sharing the Suning store.In terms of user traffic, it helps to speed up the company’s smart retail strategy and complete the overall retail layout.  The repurchase supports sustainable stabilization, the acquisition of Carrefour makes up for the fast-moving shortcomings, and promotes the development of all-scenario retail development. The external environment of corporate development is still weak in the first half of the year.100 million yuan, the repurchase price does not exceed 15 yuan / share, and the company will gradually repurchase 5,700 shares at the end of June.570,000 shares, accounting for 0 of the company’s total share capital.61%, the highest price was 14.60 yuan / share, the lowest transaction price is 10.35 yuan / share, the total amount paid is 7.170,000 yuan (excluding transaction costs).The company continues to promote the development of all-scenario retail, accelerate the development of communities and rural markets, further enhance the professional management capabilities of non-electrical products, and accelerate the construction of logistics infrastructure and the improvement of user experience.Wanda Department Store was acquired at the end of 2018. In June 2019, it intends to acquire 80% of Carrefour China for 4.8 billion yuan in cash.Through the acquisition of high-quality offline scene resources, the company can further improve the company’s overall scene format; accelerating the development of FMCG categories will help reduce procurement and logistics costs, improve the company’s market competitiveness and profitability; and strengthen the company’s presence in JapanHundred supply chain, fresh cold chain logistics business development.Without considering the impact of the acquisition for the time being, the company’s EPS for 2019-2021 is expected to be 0.43/0.47/0.52 yuan, maintaining the company’s “strongly recommended” level.  Risk reminders: macroeconomic risks; downside consumption risks; store opening is less than expected.

Depth-Company-Bank of Beijing (601169): Earnings before provision increased rapidly

Depth 南京桑拿网 * Company * Bank of Beijing (601169): Earnings before provisioning increased rapidly

The profitability of Bank of Beijing in the first half of the year has improved significantly compared to 2018, the company’s retail transformation has gradually realized transformation, and the retail deposit and loan business has performed better.

In terms of asset quality, in the second quarter, the company’s non-performing production increased, and the margin of asset quality improved. At present, the company is in the stage of disposal of bad stock.

Maintain the company’s overweight rating.

The main points of the support level before the provision of profits realized rapid growth, credit costs increased.

Bank of Beijing’s revenue in the first half of 2019 increased by ten years19.

6%, a slight change from the previous quarter, 武汉夜网论坛 mainly due to the impact of litigation fee income (-5.

53% year-on-year).

But overall, the company’s revenue performance has improved significantly compared to 2018.

Among them, benefiting from the improvement in interest margin, net interest income increased by 12 in the first half.

3%, which is basically similar to the first quarter (12.


The company stepped up its provisioning efforts and increased the cost of credit by 13BP to 1.

27%, so net profit growth in the first half of the year from 24 before provision.

1% interest rate 8.

56%, the rapid growth of net profit in the first quarter fell by about 1 average.

The gradual improvement of the retail industry gradually increased, and the increase in peers’ reduction of cost pressures eased the widening of interest rate spreads.

Retail loans at the end of the second quarter increased by 10 from the beginning.

4%, leading to an increase of 0% in retail loans.

7 up to 30.


In terms of structure, high-yield loans such as operating loans and consumer loans accounted for 32.

7%, an increase of 1 earlier.

6 averages that promote loan yields (4.

81%) up.

On the debt side, retail deposits increased by 15 at the end of the second quarter.

7%, a significant increase in the same industry, leading to an increase in retail deposits in the initial period1.

2 up to 22%.

In terms of interest margin, in our opinion, in addition to the improvement in loan yields, the improvement in cost pressure on the debt side is the company’s interest margin in the first half of the year (1.

91%) Another important factor for broadening.

Negative identification has become stricter, and asset quality pressure is under control as a whole.

Bank of Beijing’s NPL ratio rose by 5BP to 1 from the first quarter.

45%, we believe that it is related to the debt problems of individual corporate customers and the stricter and stricter identification of bad companies.

At the end of the half year, loans / non-performing increases overdue for more than 90 days fell to 78.


We estimated that the company’s single quarterly annualized bad production in the second quarter generated a replacement of 1%, and the earlier quarter (2%) dropped.

Provision coverage ratio in the second quarter decreased by 1 compared with the first quarter.

58 averages to 213%, compared with the first quarter, loan allocation increased slightly by 8BP to 3.
We believe that the company is currently in the stage of disposal of bad stocks, and the overall pressure in the future can be controlled.

It is estimated that in the second half of the year, we will lower the EPS of Bank of Beijing to 1 in 2019, taking into account the weakening of the positive contribution of the high-cost interbank compensation to the interest margin and the increase in the company’s provisioning strength.


12 yuan (was 1).


15 yuan), the adjusted net profit growth rate is 8.

4% / 9.

4% (was 9).

5% / 10.

7%), currently corresponding to 2019/2020 PB0.

58x / 0.

53x, maintaining the company’s overweight rating.

The main risks faced by the rating: the economic downturn caused the asset quality to deteriorate more than expected.

Shanghai Jahwa (600315) 2019 First Quarterly Report Review: Channel Inventory Cleanup Resulting in Accelerating Revenue Growth and Light Loading and Performance Continued to Improve

Shanghai Jahwa (600315) 2019 First Quarterly Report Review: Channel Inventory Cleanup Resulting in Accelerating Revenue Growth and Light Loading and Performance Continued to Improve

1Q1 revenue increased by 5.

03%, destocking and implementing improvement targets, non-recurring gains and losses promoted a substantial increase in net profit54.

84% of the companies achieved operating income in the first quarter of 201919.

5.4 billion, with an annual increase of 5.

03%; deduct non-attributed net profit 1.

61 ppm, an increase of 6 in ten years.

69%; net profit attributable to mother 2.

33 ppm, an increase of 54 in ten years.

84%; EPS 0.

35 yuan, of which the growth rate of net profit attributable to mothers is higher than the deduction of non-attribution to mothers. The growth rate is mainly in accordance with the new financial instrument accounting standards.

Looking at the quarter, the company’s 18Q1?
19Q1 revenue growth was 10.

33%, 8.

24%, 9.

95%, 11.

66%, 5.

03%, 19Q1 revenue growth rate is mainly 19Q1 Herborist, Gough mainly destocking, revenue performance offset, net profit growth rate was 35.

92%, 45.

73%, 31.

68%, 42.

15%, 54.


The performance evaluation target of the company’s equity incentive in 2019 is based on 2017, and the growth rate of revenue and net profit is not less than 54% and 92% respectively. It is calculated that the company will achieve the 19-year performance target.
4 Gradually increase revenue and net profit The growth rate for the same period of 18 years in ten years should be no less than 52.

30%, 32.


In the distribution channels of department stores, e-commerce and other distribution channels, Herborist, Gough mainly focuses on destocking, and the channel / brand performance is differentiated. From the perspective of channels, KA (commercial supermarket), CS (cosmetic specialty stores) and other channels have achieved double-digit average revenue growth;The e-commerce channel is mainly based on destocking, and its revenue decreases each year and slightly increases. Among them, the GMV of e-commerce has increased by about 25%.

In terms of brands, Liushen’s revenue increased by double digits; Herborist mainly focused on destocking and its revenue declined. In the future, it will strengthen word of mouth marketing, online and offline drainage, and focus on star products, so as to accelerate the performance of revenue; Gao FuAffected by destocking, single-digit revenue growth; the initial increase exceeded about 20%, of which online rapid growth, slightly higher than offline, 3.

On the 23rd, the brand released a new series of new perception products. It is expected that the revenue in 19Q2 will exceed 19Q1; the revenue of Yuze, Jia’an, and Pianzaiyu will exceed 50% +.

19Q1 gross profit margin fell, expense ratio fell, inventory turnover accelerated gross profit margin: 19Q1 gross profit margin fell 4.

55PCT to 62.

17%, mainly due to the new plant put into operation, related cost increases and high gross profit margin of Herborist sales were even worse.

By quarter, 18Q1?
19Q1 gross profit margins were 66.

72% (-5.

64PCT), 62.

41% (-5.

00PCT), 59.
02% (-9.

48PCT), 62.

79% (+4.
67PCT), 62.

17% (-4.


Expense rate: Each decrease in expense rate during the period 3.

24PCT to 55.


Among them, sales, management + research and development, and financial expense ratios are 42.

33% (-1.

65PCT), 12.

56% (-1.

25PCT), 0.

77% (-0.

35PCT), among which the decrease in sales expense ratio is mainly due to the fact that some marketing activities have not yet started, and the expenditure is gradually scheduled to be flat for a long time. The decrease in management expense ratio is mainly due to the company’s strengthening of cost control.

By quarter, 18Q1?
19Q1 sales expense ratio was 43.

98% (-8.

76PCT), 43.

74% (-1.

18PCT), 37.

66% (-8.

97PCT), 36.

85% (+2.

04PCT), 42.

33% (-1.

65PCT), showing a continuous downward trend, mainly due to the company’s strengthening of cost control; management expense ratios were 13 respectively.

81% (+2.

46PCT), 12.

98% (-0.

19PCT), 13.

94% (+0.

03PCT), 14.

12% (-5.

39PCT), 12.

56% (-1.

25PCT), since 18Q4, the management expense ratio has continued to decline, mainly due to the company’s strengthening of cost management and control. The annual management expense ratio target for 19 years is 11%, and the future target continues to drop to 10%; the financial expense ratio is 1.

12% (+1.

87PCT), 0.
99% (+1.

70PCT), 0.

80% (+1.

40PCT), 0.
48% (-1.

70PCT), 0.

77% (-0.


Other financial indicators: 1) The total inventory at the end of March 19 was 9.

1.7 billion, an increase of 4 earlier.

81%, the inventory / revenue ratio is 46.

93%, 46 of the earlier 18Q1.

68% increased slightly, inventory turnover investment was 0.

83, 0 of the earlier 18Q1.

76 has improved.

2) Accounts receivable increased by 6.

51% to 10.成都桑拿网

9.7 billion, accounts receivable turnover investment1.

84, 1 of the earlier 18Q1.

89 percent.

3) Asset impairment losses are downgraded by 96 each year.

19% to 360,000 yuan, mainly because in 19Q1, the provision for bad debts of accounts receivable and other receivables was included in “credit impairment losses” and the provision for inventory depreciation was at least reduced.

4) Investment income increases by 22 every year.

61% to 53.77 million yuan.

5) Net cash flow from operating activities has been downgraded for ten years.

67% to 2.

6.7 billion.

6) Non-recurring gains and losses increased by 443 in ten years.

86% to 72.73 million yuan, of which, in addition to the effective hedging business related to the company’s normal business operations, investment income obtained from holding transactional financial assets increased by 70.55 million yuan, and these financial assets were contributed by the company in 20165One billion yuan investment in the corresponding share of the consumption fund affiliated to Ping An Group.

Following brand reorganization and channel adjustment, Herborist inventory was cleared again. In 19 years, key development strategies continued to promote 19Q1 companies to focus on department stores, Vipshop and other distribution channels. Herborist, Gough inventory, mainly for Herborist to reorganize the brand image at the end of 2018.Focusing on the development of resources, the company accelerated the cleanup of categories that are inconsistent with the new product image in 19Q1. At present, the social inventory of Herborist has decreased by about one month, and the social inventory level has improved. It is expected that it will continue to decrease in the future.

Herborist is the company’s largest brand in the cosmetics category, with a revenue share of about 30%, and a high level of gross profit margin, and its income performance affects the company’s gross profit margin.

The main sales channels of Herborist include department stores, e-commerce, etc. In recent years, due to the company’s internal management changes, the brand has developed slowly for many years, and it can grasp the rapid development bonus of the industry.

In 2018, Herborist reorganized its market share in the skin care industry in developing countries1.

7%, a decrease of 2PCT from the previous year, ranking 12th, and ranking 7th among local brands, respectively, one drop and one drop from the previous year.

In 2019, the company will focus on the development of Herborist. It will make full efforts in brand, channel, marketing and products: 1) Brand: At the end of 2018, Herborist will complete the reorganization of the brand and issue a new brand slogan “The Beauty of Time” to clarify the tone of the Chinese medicine brand; 2) Channel: At the end of 18, a new Tmall operator was replaced. In 19Q1, the categories that were inconsistent with the brand’s new image were reduced to reduce the level of social inventory. The adjustment effect was good. Since February, the growth of the Herborist Tmall flagship store has resumed positive growth.It has continued to this day; 19Q1 company’s inventory level has dropped, and the turnover has accelerated for a period of time; 3) Marketing: existing companies have established high-level dialogues with major social media, and will focus on emerging marketing methods such as content marketing in the future; 4) products: concentrated in 19 yearsCreate lyophilized facial masks, sun and moon essence and other star explosion models, and create a two-way positive circulation system of products and brand reputation.

Channel inventory clearance affects short-term performance. It is light-loaded, and “marketing + products” are working. Performance is expected to improve. We believe that: 1) the income side, 19Q1 inventory clearance affects short-term performance, but it is beneficial to the overall improvement of the company’s operating quality in the long run.Among them, Herborist continues to adjust, enter lightly, expect to improve performance, and other brands are expected to continue to maintain good growth; 2) In terms of gross profit margin, it is expected that the impact of depreciation stalls in new factories will continue, and the decline in gross profit margin will decrease; the company will strengthen its control over expense ratio.Future decline; 3) Company 4.

26 Announcement Because the Qingpu District Government collected the company’s industrial land, the two parties negotiated the proposed “Conventional Land Non-residential House Compensation Agreement”, and the company will receive a total of 1 relocation compensation.

US $ 9.4 billion, the company will be included in the current profit and loss based on the availability of government compensation (expected in 19Q3).

We are optimistic about the company’s multi-brand high-quality assets. Following the brand repositioning of Herborist brand and optimization of channel inventory, channel inventory problems have been optimized and loaded lightly. In May, we will increase content marketing efforts, focus on resources to create freeze-dried masks, sun and moon essence, etcStar products, Nuggets cosmetics industry dividends, the adjustment effect is gradually improved, and performance is expected to usher in improvement, maintaining 19?
The 21-year EPS is 0.
92, 1.

07, 1.

26 yuan, corresponding to 31 times the 19-year PE, raised to “Buy” rating.

Risk warning: Weak terminal retail; Herborist brand adjustment effect is less than expected; Multi-brand cultivation is less than expected.

Valin Steel (000932): Q2 performance improved month-on-month, and some varieties maintained high gross profit

Valin Steel (000932): Q2 performance improved month-on-month, and some varieties maintained high gross profit

Investment Highlights The company released its 2019 Interim Report: The company achieved revenue of 483 in the first half of the year.

400 million, an increase of 11 a year.

17%, net profit attributable to mother 22.

400 million, downgraded 34 years ago.

94%, after excluding the effects of the six holdings of the “Steel and Steel” distribution by the six debt-to-equity implementing agencies, the net profit is returned to the parent 25.

0 million yuan, down 27 years ago.


Valin Xianggang, Valin Liangang, Valin Steel achieved net profit of 15 in the first half respectively.

2.5 billion, 14.

3 billion yuan, 3.

4.5 billion, down 36 each year.

88%, down 12.

02%, an increase of 26.


Q2 performance improved month-on-month, and some varieties maintained high gross profit.

Volume: The company’s 2019H1 steel production / sales volume is 990/1004 replacement, every + 110 / + 114 positions, of which 2019Q2 realized production / sales volume are 497/496 size, respectively, Q1 + 4 / -120000 tons, H1The incremental increase in output comes from the further release of the synergistic effect before and after iron. The workload of Xianggang and Liangang has significantly increased. The output of Q2 companies has increased, but the sales volume has been compared with the Q2 output released by the industry.Consistent.

Price: The company’s 2019 H1 ton of steel crystal is 4,814 yuan / ton, which is gradually decreased by 71 yuan / ton.

Profit: The company’s 2019 H1 ton steel gross profit was 657 yuan / ton, a decrease of 166 yuan / ton. The main reason for the decrease in gross profit was the sharp increase in the price of raw materials and iron ore.

In terms of different varieties, 2019H1 long products, the gross profit margin of the sheet is extended by a predetermined length, the size of the sheet scale is reduced, the long products, the company’s wide-thick plate downstream application breadth, engineering machinery, oil and gas and other sub-sector requirementsStrong, gross profit margin remains high.

Seamless steel tubes benefit from strong demand in downstream oil and gas industries, with a gross profit margin of 16.

63%, a year up 0.


The auto plate company has passed the production line certification of most joint venture brands and auto OEMs, and achieved a net profit of 75.36 million yuan in the first half of the year, with a value-added of 122 multiple times.


In terms of expenses, the company’s financial expenses in the first half of this year decreased by 3 compared with the same period last year.

800 million.

Lowered the company’s profit forecast, and expects net profit attributable to mothers to be 41 in 2019-2021.

200 million, 42.

3 ppm and 45.

6 trillion, EPS is 0.

98 yuan, 1.

00 yuan and 1.

08 yuan, corresponding to the current total 杭州夜生活网 (August 16) PE is 4 respectively.

3 times, 4.

1x and 3.

8 times, maintaining the company’s “prudent overweight” rating.

Risk warning: steel prices continue to fall; downstream demand accelerates faster than expected; raw material prices rise sharply;

Psychological characteristics of a broken-hearted person

Psychological characteristics of a broken-hearted person

When faced with an increase in broken love, the male’s self-esteem may be precisely the fact that he accepts this fact calmly and vents his painful feelings alone.

In fact, the loss of love for men is huge, and sometimes it may collapse and collapse his life beliefs, make him lose his courage in life, and lead him to rush to end his life pursuit.

Because of the objective social reality, men have more obligations, responsibilities, hopes, and requirements. At the same end of failure, men often bear more pressure from themselves and society than women.

Therefore, for too many men, being forced to lose the woman’s love is spiritually unacceptable, which leads to his psychological “chain reaction” and affects the overall psychological quality and attitude of life.

In reality, some men lost their heart after tasting a glass of bitter wine, and the melancholy Huan became lonely and silent.

Because his disabled people are unfair and fair, women’s emotions are gentle and delicate, like a flood of autumn, quiet and clear, and the holes are bright and colorful.

It is not like a man’s emotional front like a storm, but it is like a spring breeze, and the moist is silent.

A woman who is indulged in the sweetness of love, is later intoxicated by cloud-like drift and mist-like hazy fantasy than her lover.

When the broken reality breaks up the girl’s sweet dreams, the girl’s innocence and empty emotional world may be swallowed up by the cruel darkness, which is sometimes devastating.

For every male proportion, women are more likely to regard love as the highest pursuit or life center of life, and are more full of dedication.

Therefore, when she regards love as her greatest happiness and satisfaction, love suddenly disappears, and it is often difficult for a woman’s weakness and infatuation to regain a good mood.

Admittedly, the minority are cheerful and demanding.

  Men and women of different ages also have different ways of dealing with broken love. Boys and girls in adolescence are always full of passion and fantasy, and they always feel mysterious and enchanted about their hurrying first love.

At this time, he or she is most likely to deepen his feelings, and lacks long-term consideration and preparation.

In addition, the innocence of boys and girls, though innocent, is immature and very susceptible.

In fact, a blow from a frog limb’s love affair is likely to cause a split heart, a physical intercourse, and a deep and painful situation.

There are also some bad idioms that offend and change love into him, both losing love and losing friendship, giving themselves and each other noisy huge spirits.

And mature men and women, before they fall in love, they will take a closer look at the object before him, after falling in love, they will calmly face no increase.

They have rich, mature and mature rational abilities and willpower, as well as relatively stable ways of expressing emotions. This allows them to remain calm and calm before the great pain, bury the spread in their hearts, and continue their life.

To the other side, he can also smile with tolerance and understanding.

Such an attitude to life can be considered mature and sensible.

  People with different temperaments, personality characteristics and social characteristics also have different emotional attitudes and relief methods for being in love.

  Broken love may be easier for a lively, multi-blooded person. When suddenly hit by the hammer of broken love, he may react very sensitively, sad and unable to himself.

But he could soon free himself from the pain.

The biggest frustration in love and harmony is love.

The annoyance and distress that a love affair brings to people is imaginable for those who have never loved it.

Broken love can be both depressing and uplifting.

Broken heart is complicated. Analyzing this psychology can help people understand it and eliminate it.

  Broken love, in its essence, is the breaking of the psychological balance of love, and the ungrouping of the emotional community between the two in love.

The reasons for this unbalanced reconciliation are social, family, and personal.

And the broken-hearted children sent their emotions to society!

That’s why there is so much behavior!

When a woman is crazy about falling in love with a woman

When a woman is crazy about falling in love with a woman

Through the glass window of the coffee shop, I saw a neat woman coming up, her short hair surprised me, but I think she must be a blockbuster.

After she took the seat, she didn’t have the style of “strong woman” in my imagination. She was somewhat restrained, and even raised the cup a little timidly, and swallowed the black coffee without sugar and milk.

After a long time, Yiming only lowered his eyes and said gently, “I’m sorry, I’m really more and more afraid of women now .” I’m a more traditional person, and I often think, as a woman,There is a husband who loves me, an obedient child, and a beautiful big house headed by her. Her life is already perfect.

But I really didn’t expect that my life would be where I am today because of the words “I love you” by my boss!

  When I came home, my son would come over to call my mother, and my husband would ask me softly, tired?

But now, nothing!

Back to that empty house, it felt like a grave.

I always ran into the bathroom while washing my face and tears, then wiped my face out, but as soon as I came out, I ran back to the bathroom again . I do n’t know when someone heard my boss say “I love you”How do you feel you can benefit from this ambiguous relationship from now on?

When I heard this sentence, the first reaction was that I heard it wrong!

I have hallucinations!

Anyway, I just can’t believe I really heard this!

  Because, my boss is a woman like me!

  My boss and my name both have a “ming” character that doesn’t appear as a person’s name, especially girls.

I still remember the first day when my boss took office, she called me into the office and took the initiative to shake hands with me and said, “Yiming, in this company, we all have to be ‘amazing’!”

“I felt particularly good at that time. The new boss was very gentle and humble. There wasn’t a little frame. In addition, we had the word” ming “in my name, and I kissed her at once.

  Although her appearance is not very beautiful, she is very temperamental and friendly. I like her very much.

After she took office, we once met in the bathroom.

Her “old friend” came and broke through the skirt.

I told her there was a spare dress in my locker and I lent her the dress.

She asked me to go to the mall after work that day and must buy a skirt for me.

I said no, but she insisted.

She tried to pull on my skirt while trying on the clothes and touched my legs, but I didn’t think about it.

Aren’t women all buying clothes together?

A few days later, I transferred from HR to her office to be her assistant.

Therefore, for a long time, she felt that she thought I was suitable for an assistant job before transferring me over. After all, women are more suitable for women as assistants than men.

For this promotion, my husband and I also celebrated once, thinking that they would have a bright future.

Do you think a female boss appreciates you so much, would you think of anything else?

How could I think of going somewhere else?

It’s just that I really didn’t expect it . At the beginning, I didn’t find her to be different from other women. She is not the kind of perverted “man-in-law” that people imagine.

She is serious at work and humorous during breaks and chats.

The person is very generous. The colleague has achieved good results. She always pays for the party to celebrate.

Because our working relationship is a little closer than other colleagues, so I often get together after work. I will invite her to my house for dinner on weekends.

Except sometimes I find that she always stares at me and treats me uncomfortably, and also likes to ask me something more variable, just like how my husband and I live together, nothing else.

  Such a superior-subordinate relationship is indeed very enviable. If she is a man, there must be many unpleasant words to my ears.

But because she is a woman, I feel very at ease, and even my husband’s impression of her is particularly good.

At that time, our relationship was quite good. In the company, I was her subordinate. When she was out of the company door, she called me sister, and sometimes she called me “Mingming sister”.The appearance of the little girl did not seem to be a 30-year-old person, let alone think she was a homosexual!

  Having said that, Yiming paused suddenly, resting his head on the sofa and closing his eyes.

Her breathing also became a little heavy, making people feel that what she was about to say would be a very painful thing.Slowly, she straightened up, opened her eyes and looked at the black coffee in front of her, her eyes filled with tears.

One drop, two drops . tears fell into a cup, arousing little swirls.

Then she tried to spit in her throat and started to talk about . We stayed together longer and longer, and sometimes it was too late after work, and she still took me to have a drink.

I haven’t had dinner at home for almost a month. My husband called me and asked who I was with, and I said with her.

If he didn’t believe me, I gave her the phone.

She joked with my husband on the phone and said, “Why are you afraid I’ll take your wife away?”

“I don’t know what my husband said, just listen to her and say,” You can rest assured that I noticed that no man dares to hit my sister Mingming! ”

“That’s what it said, but my husband still didn’t feel relieved, and he called more frequently.

I once accompanied her to entertain. The client at the wine table was not honest. He always talked to me about the slapstick and pulled me to have a drink with him.

I was angry, but when I thought it was a tens of millions of contracts, I put up with it.

Unexpectedly, she was in a hurry, poured a whole glass of white wine on that person, and pulled me away.

Sitting in the car, I want to thank her, but the thought of tens of millions of contracts flying for me, I feel sorry for her.

Her complexion was ugly, and I wanted to say nothing.

She said, let’s go to the bar and sit for a while.

I went with her without thinking.

  In the bar, she asked for a very strong wine, drink after drink. She was quite able to drink normally when she was socializing, but today she was determined to get drunk, so it did n’t take long for her to have some.Dizzy.

Later she felt uncomfortable, so I helped her to vomit in the bathroom.

After vomiting, she collapsed to the ground all at once. I wanted to pull her up, but I couldn’t pull it up anymore, so I had to hold her tightly.

She fell into my arms and cried, calling “Sister” in her mouth, and the sound sounded aggrieved and distressing, which made me very uncomfortable.

She’s all for me!

  She kept crying in my arms, and I followed her to tears.

I don’t know how long, I suddenly have a very strange feeling, a little numb, a little bit itchy, much like the feeling when my husband and I are in a relationship . I looked down and found that when I unbuttoned my shirtAfter one, she didn’t cry very much, her head stuck in my arms, and she was biting my nipples across my underwear!

  I was frightened, pushed her away and fastened my buttons, until then I hadn’t thought she would be gay!

I just feel embarrassed and don’t understand why she is like this?

I’m also very angry, but I still feel embarrassed and feel ashamed.

I don’t understand why the person who is ashamed turns out to be me. Maybe I didn’t expect that I would feel that way under the kiss of a woman?

However, I really didn’t expect her to be a homosexual. At that time, I was still looking for reasons to excuse her. I wonder if she did this because she drank too much?

Think of her as her mother or her elder sister?

All my thoughts have nothing to do with pornography, until I see her eyes, her look . how can I describe it?

It’s like a woman who loves a man deeply, but that man is in front of her in front of other women, and she is hurt a lot.

Only in this case will the woman’s eyes appear, and at this moment, she will look at me with such eyes!

  Yiming’s blushing made me wonder if she was excited, angry, or ashamed?

She doesn’t really look like her.

Her appearance is very powerful, but she was not so soft, fragile, and perhaps weak.

  I was thinking, if I encountered this situation, what would I think and how to deal with it?

Maybe I will slap the other person, yell at her aloud, and tell her that you are looking for the wrong person!

Then there will be no future, but after all, I am not a blockbuster. A blockbuster is a lamb that is easily injured.

  ”I’m stupid, I’m stupid, I’m so stupid!

At that time, I hadn’t thought of anything, and thought of her so purely . “Yiming couldn’t speak any more, and tears rolled in his eyes.
  She raised her eyes and looked at me and said, “Sister, do you know I like you?
“Now thinking about what she said, it actually means that I already understand it very well. If I could think of this layer at that time, maybe future things can be avoided, at least not . Well, but I reallyI suspected that I was a piece of wood at that time, but I was still calm: “Sister also likes you, like you as sister, but you shouldn’t be like that just now.

“She immediately confessed to me and we went home.

When I got home, my husband and I quarreled and asked me why I shut down?

I thought the phone was out of power. At first glance, the battery was still full. I didn’t know who to turn it off.

He finally spoke out these doubts and asked me if I had a lover.

At that time, my brain was very chaotic. I wanted to make him call and ask if he didn’t believe it. But when I thought of how she treated me in the bathroom, I didn’t want her to testify.

It was boring for my husband to quarrel for a while, and things just passed.

  Later, I was a little bit guarded, and always kept a little distance from her.

Sometimes when I was writing, she came over and saw that when I saw my long hair tucked on the table, she would help me with my hair, and my fingers would touch my neck.

Then I used to glance at my chest habitually to see if I could see through the neckline.

Other than that, everything she did was normal.

Sometimes I also think that even if she likes me a little bit beyond friendship, she should be fine.

She is a woman, what can we do?

  This thing slowly forgotten. Once we went to the mall and walked to the underwear counter, she encouraged me to try on a set of particularly sexy lace underwear.

I didn’t feel embarrassed, so I wanted to excite her. If she didn’t go, I would not have to go, but I did not expect her to accept it generously.

  When she walked into the fitting room, she immediately took off her clothes and tried on. She looked very natural and asked me if she looked good.

I also got her infection to try, and suddenly an adjacent hand was pressed against my bare chest.

I was really angry this time, because the last time I could explain with drunk, how can she explain how she touched me now?

I was about to get angry. I didn’t expect her to make a face at me and said, “It’s really flexible and better than mine!

“Then added the sentence seriously:” Sister, you are so beautiful! ”

“I want to mention it?

Looking at her thoughtless look, I really couldn’t think of her in a crooked position.

A woman is over 30 years old and somewhat unconfident about her figure.

Her words sounded so sincere. My husband never praised me so much, so I blushed and didn’t know what to say.

Later, I thought, there is no need to doubt her sincerity in saying this, because she is a man who looks at me and all the women around her.

  When she saw me blushing, she teased me and jokingly grabbed my hand and pressed it against her breast.

I was touching the breasts of other women for the first time. The feeling was hard to describe. I was a little embarrassed.

But I quickly pulled my hand back and exaggerated her.

Her expression seemed to be very enjoyable. I took my hand away and she was a little disappointed.

But I didn’t expect that my perfunctory was regarded as a signal by her. She thought I was the same as her.

  Within a few days, I had acute cecumitis, and she put me in the hospital.

She kept me there that week, kept walking, feeding me, washing me, helping me to the toilet, my husband didn’t even show his face.

I was very sad. I didn’t expect him to be so cruel and so careful that he wouldn’t even look at me because of nothing.

I really felt the world at that time, only she was my loved one.

  When she was discharged, she still sent me home.

I stood at the door and opened the door with the key, but I couldn’t open it.

I felt strange and called my husband. He said coldly on the phone: “Don’t you want this home?

Why are you back?

I changed the lock!
“I was paralyzed at the door all of a sudden. I didn’t know how I got downstairs, how I got on the car, or how I got to her house.
  During that time, she gave me a vacation. I wondered why my husband changed the lock all day?

Why do I say I do n’t want this home?

I called him and he didn’t answer; he went to the unit to find him and he didn’t see me.

I went to see my son and found that my son was not in the previous kindergarten!

I don’t know what happened to him, what did I do, he wants to do this to me?

  I told her this, and she said lightly: “Don’t always think about what you did wrong, maybe what he did, and see you in the face before you preemptively find your stubble?

“I suddenly felt that she was right. I was so busy during this time, he didn’t consider me, but he kept on messing with me again and again. Who knows what he did not carry me?

  One day I received an e-mail from a stranger, opened it, and found out that there were only photos of my husband and a strange woman singing karaoke together!

The woman’s face was a little fuzzy, but my husband’s face was clear.

He smiled so happily, he held the woman so tightly, I was almost dizzy!

At this time, she happened to come in and saw the photos on the computer, and suddenly she became a little bit nagging.

I asked again and again before she told me that my husband had even suggested to her in that regard!

Afraid of destroying my family, she put up with it and said nothing.

After I heard it, I was going crazy.

  I printed the photo, rushed into my husband’s office with this piece of paper, and placed it on his desk.

He froze, then laughed, and said, “Okay!

For him, you have used such a despicable means!

Isn’t it just a computer-generated photo?

“He pulled open the epoxy and took out a few letters and placed them on the table.

I picked it up and saw that it was a challenge book written by my “lover”!

“He” made my husband complete us. In order to prove how “loveful” we were, he even spoke the mole on my breasts and thighs.

Even the few days I was hospitalized, it was said to be a honeymoon.

My mind was completely deaf.

I just remember what she said: “Men have done something unseen, they always have to find the stubble of the woman, and blame the woman.

“That’s how we separated, and I later learned that she did all this.

  Yiming closed her eyes again and I knew that her speechlessness was more painful than talking.

If a man can do whatever it takes to get the woman he loves, then a woman can do anything more for the woman she loves.

I don’t know what is waiting for a woman when she becomes the most beloved of another woman?

But Yi Ming’s expression told me that it was crazy torture.

What will you do on your first date

What will you do on your first date

The first love feels sour and sweet, just like a green apple. If you accidentally fall in love, what is your most hopeful date for your first date with your boyfriend?

  Go to MTV or KTV, walk to the park or the seaside, go to a nice coffee shop, chat and watch movies together to see the results.

For love and bread, you will choose bread without consideration, because you think love is only an accessory in life.

Not all.

  √ Going to the park or the seaside is a bit idealistic!

Love is too idealistic. You think that with love, it does n’t matter if you do n’t have a meal. It ‘s the love of people. You are very eager to talk about a vigorous love.

  √ Chat at a nice coffee shop. You must love chatting!

You can’t wait to know your boyfriend’s past, present and future. Anyway, you just know everything about him, and you also want him to know about you. Your love is caring.

  √ Watching movies together, the love you imagine must be long and sweet!

You can share your interests with him, and hope that he can enjoy it. You think love is based on common interests.

Summer can raise the heart to practice Tai Chi

Summer can raise the heart to practice Tai Chi

Practice Taijiquan to adapt to the yin and yang of the four seasons to nourish the five internal organs, to raise the liver in spring, to raise the heart in the summer, to raise the lungs in autumn, to raise the kidneys in winter, to regulate the spleen and stomach of the four organs and to promote the metabolism of Liuqi.
In the midsummer season, the main yang, the main student, is the most vital season for the yin and yang in the four seasons.
  ”South wind is born in the summer, the disease is in the heart, Yu is in the chest,” and should always cultivate the water of the kidney yin and lower the fire of the heart and the sun.
The heart is wise and wise, the internal organs are naturally nourished and smooth, the body and mind can be strong, and life can be healthy and longevity.
  Taijiquan moves quietly, soft and soft, openness, degree of undulations, body shape is not biased, righteousness is inside and wind evil can not be invaded, consistent with the natural yin and yang.
In accordance with the characteristics of the summer climate, you should get up early, so that your mood is quiet and quiet, not angry, keep the spirit and health as beautiful as summer, and the emotions will rise outwards and integrate into nature.
Taiji yin and yang start from the Promise, the Promise is invisible and invisible, and the feet stand naturally, and the roots are rooted under the real feet.
  Relaxing inside and outside the body and mind, the eyes are gently closed, the body is in a straight shape, the heart is calm and calm, and God calmly and calmly stands. The gas of Tianyang is from the top of the head through the spine to the soles of the feet and loosely into the ground, sucking the ground.The gas is retrograde and cultivates the five internal organs, solidifying the essence, practicing the refined gas, and replenishing the gods, so that the heavens, the people, the earth’s gas are connected and connected to each other, without thinking or thinking, except for the filtering, goIt is annoying, listening to the sound of breathing, slow, deep, long, even, like standing and standing for a long time, deep and deep, feeling the body and mind is particularly relaxed, the bones are smooth and smooth, very comfortable and want to practice when you punchThe ground began to practice boxing.
  The practice of boxing and punching is the process of cultivating the fundamentals, increasing the power, increasing energy, and promoting the coordination of the internal organs of the five internal organs and the health and prosperity.
When practicing boxing, the spirit is led, the heart is relaxed, and the body and mind are loose and solid, such as the tires with sufficient gas, which are extremely flexible and tough. The mind and mind are fully relaxed, soothing and calm, and the spirit is strong, “the body is loose and airy inside and outside;Just gathered together.”
Tai Chi Chuan is a unity of heart, mind, qi, god and form: heart business, temperament, gasification, and god.
Qi Jinjin: Born in the heart from the waist, the strength is divided into two ways, on the shoulders, elbows, hands out; the lower is the squat, knee, foot section and the deep into the ground.
The movement is strong and soft, and when the spirit is strong, the masculine is obedient. When it is soft, it is soft and soft, and there is no strong heart, and it is rich in natural rhythm.
Open and close the chest and abdomen, the heart is smooth, the virtual and real conversion is complete and smooth, the spine rotates and the light spirit garden lives, the air machine vents and vents, sweats without gasping, and the body is light and refreshing.
Practicing his body, raising his heart, removing his illness and increasing his merits.
  There are three big and medium boxing fists, and the posture is three high, medium and low.
Initial training Taijiquan can not be strong, can not be excessively pursued to lower the difficulty of the frame, training is nothing to hurt the bones, wear and knee injury is not worth the loss.
It can’t work hard, and it is not good for physical and mental health.
“Ten training and nine injuries” are mostly self-training and self-injury. The heart is not hurting and hurting its own breath. If the gas is not smooth, it will hurt its blood. If the blood is not smooth, it will hurt its shape. If it is not correct, it will touch its heart and hurt its heart and friends.It is inevitable that there are too many enemies.
Excessively strong, contrary to Taiji’s natural way, if the morality is not high, the art is difficult.
Don’t be eager to seek success, it should be natural. If you practice the style of Chen Style Taijiquan, you will not find it will be sent, you must rectify from the correctness of the move to the zero-breaking strength, from small to strong.The foot and even the “very soft and soft, big to just” Tai Chi.
Step by step, in response to what the predecessors said: thousands of times more than a thousand practice, to the natural self-satisfaction.

Summer health care for your baby

Summer health care for your baby

The health care of children is everyone’s concern. Many parents also hope that their children can grow up healthy. The problem of children’s bathing is also concerned. The following issues should be noted when newborns bathing.

  Pay attention to the indoor and water temperature when bathing the baby. Pay attention to the indoor and water temperature when bathing the baby. Generally, the indoor temperature should be kept at 26?
28 ℃, water temperature is 38?
40 ° C.

Every time you bathe your newborn, you should schedule it before breastfeeding?
2 hours to avoid vomiting.

Do some necessary preparations before bathing your baby. Put the clothes you need to change, diapers, and bath towels, towels, baby soap, etc. in your bath; choose a bath tub of moderate size;Temperature adjusted to 38?
Between 40 degrees Celsius, and then try the water temperature with the back of your hand, so as not to feel hot; after all this is ready, you can undress your baby and take a bath.

  Do not drag the bath too long to prevent your baby from getting cold and getting sick, especially when the weather is not so good.

The best room temperature in the bath is 26?
At about 28 months, the baby’s temperature is too low and the baby is likely to get cold.

Depending on the number of babies bathing, it can be determined according to the prevailing climate and family conditions.

If it is summer, wash it at least once a day; if it is winter, wash it once a week.

Sometimes if the stool is particularly dirty, you can increase the frequency accordingly.

  After bathing the newborn, it is better not to use talcum powder. After bathing the baby, many new parents often like to apply some talcum powder to the baby’s small buttocks, under the arms or thigh roots.skin.
In fact, it is actually the opposite, because the baby is born quickly, sweats a lot, and urinates frequently. Too much talcum powder will form lumps or granules when it encounters sweat or urine. When the baby moves, the powder on the body foldsOr the particles rub the delicate skin, which can easily cause skin redness, swelling and erosion, so it is best not to use talcum powder.

  Pay attention to protect your eyes when washing your newborn. When washing your face, pay attention to protect your eyes.

When washing your face, just wash it with a towel or small gauze dipped in warm water.

Some babies who are born shortly have more eye feces, and the mother may think that the baby is “hot”. In fact, this is not because the baby is “hot”. It is caused by the bacterial infection in the birth canal when the baby is born through the mother’s birth canal.

Therefore, if the baby’s eye feces are around, the mother should take the baby to the hospital for an ophthalmologist to look at, or give the baby some chlortetracycline eye ointment or chloramphenicol eye drops under the guidance of the doctor to treat the eye infection.

  When bathing, do not let the water flow into the newborn’s ears. When bathing the newborn, the mother should pay special attention not to let the baby’s ears get into the water. In case of accidental water ingress, you can gently wipe with a dry cotton swab, but don’t push it too deep.

Mothers often find earwax in the ear canal of babies. Generally, baby’s earwax is light yellow flakes, and some baby’s earwax is ointment-shaped and attached to the wall of the external ear canal. A small amount of earwax can protect hearing.

These earwax generally do not need special treatment, because earwax is a secretion produced by the glandular glands on the skin of the external auditory canal, which is medically called tadpole.

These earwaxes are loosened by facial activities when the baby is feeding, and fall out on their own.

If the mother finds that the baby’s earwax has formed into lumps, do not dig it by yourself at home. Instead, go to the hospital’s faculty and ask the doctor to inject the emu softener and use a special device to remove it.

If purulent discharge is found in your baby’s ears, you should go to the hospital immediately for consultation with a facial physician.