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銆 愰 浮 铔 嬭 嬛 瀛 愯 兘 钖 咟 哫 铙 颳 介 Floating 铔 嫔 悆 銆?
[Can garlic and rock sugar boiled water drink to cure cough]_Garlic and rock sugar boiled water _ cure cough _ efficacy
[Can garlic and rock sugar boiled water drink to cure cough]_Garlic and rock sugar boiled water _ cure cough _ efficacy
Long-term cough is a relatively uncomfortable thing, and it may also cause other consequences. Therefore, we must also pay attention to the cough phenomenon. Garlic and rock sugar boiling water have a certain effect of cough relief, or you can directly steam garlic water, which is convenient and simple.
Ginger + brown sugar + garlic Children with colds and colds, drinking warm ginger brown sugar water can solve a good therapeutic effect, if the child is also accompanied by cough, can add 2 to ginger brown sugar water?
Cook 3 cloves of garlic together, cook on low heat for 10 minutes, and cook off the spiciness of garlic so that the child will not drink.
Steamed garlic water to take garlic 2?
3 pieces, pat into pieces, put in a bowl, add half a bowl of water, put a rock sugar, cover the bowl and put it in a pot to steam. After the high heat is boiled, use low heat for 15 minutes.
Give your child a drink when the garlic in the bowl is warm. You do n’t need to eat the garlic.
Usually a day 2?
3 times, one small bowl at a time.
Garlic is warm, enters the spleen, stomach, and lungs, and has a very good effect in treating cold cough and kidney deficiency cough, and it is convenient and simple, and children are willing to drink it.
Toast the oranges, bake the oranges directly on a low fire, and keep turning, until the orange peel becomes black, and the hot air is emitted from the oranges.
Allow the oranges to cool for a while, peel off the orange peel, and let the child eat the warm orange petals.
If it is a big orange, the child eats 2 at a time?
Three petals are enough. If it is a small tribute, the child can eat one at a time.
Best to eat with garlic water, 2 a day?
Oranges are warm and have the effect of resolving phlegm and relieving cough.
After eating roasted oranges, the amount of sputum will be significantly reduced, the antitussive effect is very obvious, and children are willing to eat.
Sesame oil ginger and scrambled eggs Add a small spoon of sesame oil to the wok. After the oil is hot, put the ginger in it. After a little in oil, stir in 1 egg.
When the child has a cold and cough, he or she should eat it hot every night before going to bed, and keep eating for a few days.
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[Can a two-year-old baby drink yogurt]_2-year-old child_Can you drink it?
Every change after the birth of the baby is paid attention to by the mother, because there are many novice mothers who do not know much about the growth and development of the baby, so sometimes the judgment of the baby’s physical condition is not very accurate.
From birth to growing up, every day has been very difficult, and mothers have broken their hearts in order to enable the baby to grow up healthy.
Many moms want to know if two-year-old babies can eat yogurt?
1. Can one and a half-year-old babies drink yogurt? Infants and young children after the age of one year have an enhanced digestive function. With rice as the main food source, the requirements for milk are relatively simple.
Therefore, if conditions permit, infants over 1 year old are recommended to substitute infant formula; if conditions permit, ordinary milk can also be used instead.
Of course, for some special populations, some infants and children who are malnourished, anemia or thin should choose formula instead.
Yogurt is fermented milk that is easier to digest.
Therefore, for infants and children over 1 year old with poor digestive function, drinking yogurt is beneficial.
Yogurt is rich in nutrition and can be absorbed. For those children who do not like to drink milk but can accept yogurt, using yogurt instead of ordinary milk is also a good choice, but not all babies can drink yogurt.
Babies under the age of 1 should not drink yogurt.
In addition, cheese is suitable for babies over 1 year old because of its high content of calcium, protein, and trace amounts.
In general, infants between 1 and 2 years of age consume 250 to 500 ml of milk to ensure a basic calcium supply.
Some mothers think that probiotic yogurt is good and can relieve constipation, so it is not appropriate to give the baby a drink.
Probiotic yogurt is a health food and cannot be used as a substitute for medicines, so you have constipation. When diarrhea, please consult a doctor for treatment.
Because of fresh milk, because it is rich in too many minerals and is not suitable for humans to absorb protein types, it will increase the liver and kidney burden of the baby.
In addition, milk is deficient in iron and unsaturated fatty acids and taurine necessary for infant brain development. Therefore, it is recommended that babies under 3 years old drink less fresh milk.
2. How many yoghurts do babies drink every day? Proper yoghurt contains a variety of beneficial bacteria, which has certain health effects on the stomach and intestines of young children.
However, for babies under one year of age, the gastrointestinal system has been developed, the gastric mucosal barrier is not sound, and gastric acid and pepsin activity are metabolized.
Yogurt has the lowest PH value. After entering the upstream tract, it can “corros” the delicate plasma mucosa of the baby, affecting digestion and absorption.
In addition, the microbial flora of the baby’s gastrointestinal tract is at a stage of growth change. The growth constant. Reconstituted yogurt may cause the reproduction of Lactobacillus acidophilus, leading to the imbalance of the ecological balance of the microbial flora in the internal center, which will cause intestinal diseases.
There is no strict limit on the amount of yogurt you can eat every day.
For babies 6 months and older, try yogurt as a complementary food.
For example, 100 ml of probiotic yogurt can be arranged every day after 1 year of age. For children with lactose intolerance, more yogurt can be arranged.
With the increase of age, you can increase as appropriate.
For young children with lactose intolerance, yogurt may be the main source of milk in the diet.
[Hazards of freeze-dried fruits]_Hazards_Precautions
Nowadays, the pace of life is accelerating. In order to keep up with the times, make better use of and save time for eating, more people will choose to eat fast food. This is convenient and easy to make simple food.
Everyone knows that fruits can’t be stored for a long time, so what good way to preserve them? The answer is dehydration.
This method preserves the original color, aroma, taste, nutritional ingredients, and appearance of the original materials, and it is also convenient for someone to eat, so will it be harmful?
Freeze-dried fruits are non-hazardous. It uses a freeze-dryer’s vacuum freeze-drying method to freeze the water in the fruits in advance, and then sublimates the frozen water in the fruits in a vacuum environment to obtain freeze-dried fruits.
In short, the water in the fruit is pumped in a low temperature environment to retain its original nutrition.
Features and introduction of freeze-dried fruits: 1. Fresh: freeze-dried immediately after picking seasonal fruits, which avoids the nutritional loss caused by long-term storage of fruits and multiple logistics, and is healthier than the fruits in supermarkets and fruit stores.
2. Excellent: Selected top domestic and foreign fruit varieties, strict screening at all levels, years of mature freeze-dried production technology, all products are subject to 489 export-level inspections, and the quality is visible.
3, should: avoid the complicated process of fresh fruit cold storage and cleaning, easy to travel or gifts, even patients, pregnant women or girls in the physiological period can be safely eaten.
4. Pure crisp fruit chips suitable for the crowd: suitable for all ages 5. Storage conditions of pure crisp fruit chips: sealed at room temperature and protected from light, freeze-dried has the following advantages: 1.
Freeze-drying is carried out at low temperatures and is therefore particularly suitable for many heat-sensitive substances.
Such as proteins, microorganisms, etc. will not denature or lose biological vitality.
When dried at low temperatures, some small amounts of starch in the material lose little, maintaining the original nutritional content.
During the freeze-drying process, the growth of microorganisms and the action of enzymes cannot be performed, so they can maintain their original shape.
Because it is dried in a frozen state, the volume is almost unchanged, the original structure is maintained, and no concentration occurs.
The dried material is loose and porous, showing a sponge-like shape. After adding water, it dissolves quickly and completely, and it returns to its original shape almost immediately.
Since drying takes place under vacuum, there is very little oxygen, so some easily oxidizable substances are protected.
Drying can remove more than 95-99% of water, so that the dried product can be stored for a long time without deterioration.
Freeze-dried food: Almost all food mixtures can be lyophilized, but for some foods with too high sugar or gum content and foods with too low eutectic temperature, lyophilization is relatively difficult.
Various types of foods that can be freeze-dried, imitate the following: vegetables: chives, carrots, garlic, onions, ginger, pepper, yam, spinach, cauliflower, green beans, edible fungi, etc.
Fruits: apples, peaches, pears, apricots, red dates, strawberries, bananas, pineapples, cantaloupe and other meats: beef, lamb, pork, chicken, snake, turtle, etc.
Aquatic products: fish fillet, shrimp, crab meat, cuttlefish shred, silver fish, etc.
Instant foods: instant noodles, beef noodles, meatballs, soups, pet feeds and other instant beverages: coffee, milk, soy milk, fruit juice, royal jelly, etc.
Condiments: Various cooking condiments.
Medicine: antler, stag blood, earthworm, scorpion, earthworm, ginseng, codonopsis, angelica, rhubarb, various health foods, etc.
Xinyangfeng (000902): 19H1 continues steady growth, new fertilizer contributes growth momentum
The new type of fertilizer has grown significantly, and the company’s product structure has been further optimized. The company released a 2019 semi-annual performance forecast, which is expected to return to its mother net profit in the first half of the year.
00 trillion, corresponding to 15% -30% growth rate per second.
The report points out that increased resources are invested in the development of new fertilizer markets, especially in the southern cash crop zones; the technical service to dealers and growers has been strengthened, the sales of new fertilizers have increased significantly, and the product structure has been further optimized.
Product innovation to create a new type of fertilizer operating barriers The company established a joint venture to create a high-end fertilizer sales platform, which is expected to be heavy in the second half of the year.
The Liseno brand has held its first listing conference on April 18. It is rapidly growing and developing the next generation in the new fertilizer industry. It focuses on new fertilizers and develops high-end brands. Relying on a strong team of experts led by Academician Zhang Fusuo, the Ministry of Agriculture and Rural CropsKey Laboratory for Special Fertilizers, 3 Research Institutes, 6 Supporting Organizations for Product and Technical Support, Through the Trinity of Promoter System, Community Operation, and Community E-commerce, to expand users, strengthen stickiness, and realize the services of agricultural resource enthusiastsAnd operational breakthroughs.
The environmental protection of the Yangtze River Basin has increased, and the “three phosphorus” remediation is good for the environmental protection and compliance enterprises. The Ministry of Ecology and Environment issued the “Implementation Action Plan for the Special Investigation and Rectification of the” Three Phosphorus “in the Yangtze River on May 2.The domestic long-term environmental protection supervision mechanism is comprehensive and comprehensive, industry access conditions and exception prevention and control standards will continue to increase. Environmental pressure from small and medium-sized compound fertilizer companies may lead to accelerated elimination of small and medium-sized production capacity. Leading companies benefit from the increase in industry concentration.
Optimistic about the company’s cost advantages to promote channel marketing, the product market share is gradually increasing, the product structure is optimized, the upstream and downstream industry chains are 重庆耍耍网 complete, and the transportation cost advantage creates a cost-effective compound fertilizer, combined with the nationwide marketing network to promote the continuous increase in market share of compound fertilizer productsCompound fertilizer channel stickiness and brand advantage are expected to continue steady growth.
The company is expected to achieve revenue 114 in 19-21.
700 million, net profit attributable to mother is 9.
4 ppm, the current market value corresponds to 19 years of PE14.
2 times, based on the company’s new fertilizer development space and with reference to comparable companies, giving the company a reasonable estimate of 18xPE for 19 years, corresponding to a reasonable value of 13.
68 yuan / share, maintain the company’s buy rating.
Risks prompt macroeconomic 南京桑拿网 growth to the end of insufficient downstream demand; phosphate mining has tightened faster than expected, and raw material prices have risen; new mine construction has gradually exceeded expectations, and the promotion of new compound fertilizers has fallen short of expectations
Shanghai Mechanical & Electrical (600835) First Coverage Report： Global Perspective on Elevators： Undervalued Quality Value Stocks
Shanghai Mechanical & Electrical (600835) First Coverage Report: Global Perspective 北京夜生活网 on Elevators: Undervalued Quality Value Stocks
This report reads: The elevator industry has bottomed out, the demand for relay real estate has been updated, and the installation of elevators has been catalyzed by policies.
Global perspective: Shanghai Mitsubishi’s cash dividend ratio is close to 100%. Shanghai Mechanical and Electrical is an undervalued high-quality stock.
Investment Highlights: Conclusion: Looking at elevators from a global perspective, Shanghai Mechanical & Electrical is an undervalued premium value stock.
The company’s EPS for 2019-2021 is expected to be 1.
74 yuan, considering the company as the industry leader, and the future performance growth rate, given a target price of 20.
9 yuan, corresponding to 16 times PE in 2019, increased holdings.
The elevator industry has bottomed out and is picking up, renewing the demand for relay real estate, and installing an elevator to welcome policy catalysis.
① Estimation of elevator demand: The output growth range in 2019 is 7.
6% (Association caliber).
The elevator lags behind the real estate construction for about a year, and the output growth rate has continued to double, setting a new high in four years (statistical bureau caliber); meanwhile, the elevator price has stabilized, which confirms that the industry has bottomed out and recovered.
② Renewal demand: The aging of elevators, the Jugra cycle that is about to start, is expected to be updated by 100,000 units in 2021, to relay real estate demand.
③ Potential demand for the installation of 2 million elevators in old communities, plus subsidies for old city reconstruction policies, is expected to quickly increase volume.
Global perspective: Shanghai Mitsubishi’s cash dividend ratio is close to 100%, and it is an undervalued value stock.
① Japan’s experience looks at China: Elevators remain engaged in sales in the medium and long term.
The number of newly installed elevators in Japan was stable at 40,000 from 1991 to 2006, and remained at 2 after 2006.
80,000 units, the stock was renovated to participate; Japan’s stock elevators over 25 years in 20155.
60,000 units, 100,000 units in 2020.
In Japan, Mitsubishi Electric accounts for 50% of the new and new installation needs.
② KONE Elevator 北京夜生活网 and Shanghai Mitsubishi Cash Dividends have a dividend payout ratio close to 100%, and KONE 4.
A 1% dividend yield supports 26 times PE.
KONE’s revenue from China accounts for 25%. In the second quarter of 2019, orders in China exceeded 10% growth, a significant increase.
③ Subsidiary Shanghai Mitsubishi has outstanding competitive advantages, which is comparable to Hitachi (China) in terms of revenue volume and stronger profitability; the parent company has 4.8 billion in cash in hand, and the company is an undervalued high-quality stock.
Catalyst: Intelligent manufacturing epitaxy and improved incentive mechanism.
Increased risk: new real estate starts to expand, industry competition intensifies, and investment returns reduce risk
Tongwei (600438): Not afraid of industry adjustment to accelerate capacity expansion
The industry trough leader accelerates capacity expansion, and performance is expected to usher in a rebound in the company’s 2018 revenue of 275.3.5 billion (+5.53%), net profit attributable to mother 20.1.9 billion (+0.51%), 19Q1 operating income 61.6.9 billion (+18.14%), net profit attributable to mother 4.9.1 billion (+53.36%).Affected by the 531 New Deal, the company’s 18-year revenue pressure, 19Q1 revenue, the possibility of a rebound in the average profit.The industry trough leader accelerated its capacity expansion and performance was in line with expectations. We expect the company’s EPS in 19-20 to be 0.78 and 1.07 yuan, given a target price of 15.4-16.94 yuan, maintain “Buy” rating. The production capacity of silicon materials and cells continued to climb, the price of the industrial chain gradually stabilized, and the profitability increased. 武汉夜网论坛 According to the annual report, the company achieved sales of high-purity crystalline silicon in 20181.92 at least (+19.74%), reducing production costs by 5.About 53 million / ton, the scale effect is obvious.By the end of 2018, the company is located in Leshan, and the first phase of two high-purity crystalline silicon projects in Baotou have been completed and put into operation as planned, and the capacity will reach 8 when fully reached; Chengdu 3.2GW and Hefei 2.The 3GW high-efficiency battery project has gradually reached production, and the solar cell has formed a 12GW capacity scale.In March 2019, the company launched the fourth phase of Chengdu and Meishan new projects. The company expects that the scale of solar cells will reach 20GW by the end of 19, and the scale advantage will be further enhanced.We believe that the 苏州夜网论坛 launch of new production capacity will further reduce the average production cost, further accelerate the clearance of high-cost production capacity overseas, and the price of the industrial chain is expected to stabilize, driving the company’s earnings to rebound. The scale of power station operation has continued to grow, and the integrated pattern of the photovoltaic field has come to an end.At the end of 2018, the company has 52 photovoltaic power generation projects with a cumulative installed scale of 1,151MW (more than + 136%). Power generation will be achieved in 2018.4.3 billion kWh, generating income 6.200 million (previously + 137%).As a professional manufacturer of silicon materials, cells and modules, the company has advantages in technology and cost. Through design optimization and technological innovation, it reduces the investment cost of photovoltaic power generation year by year.According to the annual report, at the end of 2018, the comprehensive investment cost of photovoltaic power plants has dropped to less than 5 yuan / W, and the company expects to replace the cost within 4 yuan / W in 19 years.We believe that the company’s integrated pattern in photovoltaics has taken shape, and its cost and management capabilities are leading the industry. The gross profit margin decreased slightly in 18 years, and the increase in financial costs was affected by the decline in the photovoltaic industry chain price and the increase in the proportion of fish feed income with low gross profit margins.91% (decade -0.66pct), slightly decreased.The standardized production capacity was put into operation and the photovoltaic industry chain price rebounded to drive the company’s gross profit margin to rebound to 22 in 19Q1.25%.The company has an expense ratio of 10 during its 18-year sales period.22% (decade +0.5pct), where the financial expense ratio is 1.15% (decade +0.55pct), mainly due to the expansion of the company’s financing scale and rising market financing costs.Driven by the company’s revenue growth, the company’s 18-year operating cash flow was 31 trillion yuan (+6.31%), and cash flow has improved. The release of production capacity promotes the improvement of performance and maintains the “Buy” rating. The company ‘s capacity and cost advantages in the field of silicon materials and battery cells continue to expand.0.78 and 1.07 yuan (previous average 0.65 and 0.91 yuan), comparable company’s 19-year average PE is 21.5 times, based on the company’s silicon material, double-headed overview of battery chips, giving the company 20-22 times PE in 19 years, target price of 15.4-16.94 yuan, maintain “Buy” rating. Risk reminders: 1) Insufficient installed capacity of photovoltaic replenishment, dragging on the accumulation of digestion; 2) The price of aquatic feed drops.
Poly Real Estate (600048)： Performance growth is higher than expected. Steady growth in sales-Poly Real Estate’s 2019 results preview comment
Poly Real Estate (600048): Performance growth is higher than expected. Steady growth in sales-Poly Real Estate’s 2019 results preview comment
Highlights of the report Event description In 2019, the company achieved operating income of 2355.
40 ppm, an increase of 21 in ten years.
07%; net profit attributable to mother was 265.
69 ppm, an increase of 40 in ten years.
55%; expected increase in average net asset income by 18.
81%, an increase of 2.
Event comment: The performance growth in 2019 was higher than expected, and profitability was further improved.
In 2019, the company achieved operating income of 2355.
40 ppm, an increase of 21 in ten years.
07%; net profit attributable to mother was 265.
69 ppm, an increase of 40 in ten years.
The company’s 2019 performance achieved high-speed growth, mainly due to the expansion of the operating scale, the increase in the scale of project carry-over, and the increase in the equity ratio of the carry-over project.
In fact, the company’s profitability has further improved, and the company’s average return on net assets will increase by up to 18 in 2019.
81%, an increase of 2.
Sales achieved steady growth, and more measures were taken initially.
In terms of sales, from January to December 2019, the company’s cumulative sales amount was about 4,618.
48 ppm, an increase of 14 in ten years.
09%; cumulative sales area is about 3123.
120,000 square meters, an increase of 12 in ten years.
91%, sales continued to grow steadily in 2019.
In terms of land acquisition, the company adopted a relatively stable land acquisition strategy in 2019, and gradually transformed it into an area of approximately 26.75 million square meters, reducing at least approximately 14.
1%; the total value of the newly added land is about 155.5 billion yuan, a decrease of about 14 each year.
Among them, the company’s land acquisition in December increased significantly, adding 6.95 million square meters of new land area, accounting for 26% of the total land acquisition area.
Land costs are properly controlled and profit margins are abundant.
On January 12, 2019, the company’s accumulated average land acquisition price was approximately 5,813 yuan / square meter (compared with the average land acquisition price of 5,855 yuan / square meter in 2018, which was 0).
7%), the cumulative average selling price is about 14,788 yuan / square meter (compared with the average selling price of 14,635 yuan / square meter in 2018, an increase of about 1.
The company’s land-price ratio is 39.
3%, the land cost is controlled excessively, which can support the company’s future development business profitability to a certain extent.
Investment suggestion: The performance continues to increase rapidly, leading value is prominent, and maintain the “Buy” rating.
The company’s performance has grown rapidly in 2019, and its profitability has continued to improve.
As a leading real estate company, the rich land reserve may help the company continue its sales growth and provide strong support for the continued growth of performance.
In addition, the company recently announced the exercise results of the second equity incentive plan, showing its confidence in long-term development.
The company’s EPS is expected to be about 2 in 2020 and 2021 respectively.
64 yuan, 3.
10 yuan, the corresponding growth rate is 18%, 18%, corresponding to the current expected PE is 6 respectively.
1 times, 5.
2x, maintain “Buy” 杭州龙凤体验网 rating.
Risk Warning: 1.
The liquidity environment may be uncertain, or it may affect the company’s sales or financing end; 2.
The adjustment policy of the real estate business may have uncertainties or have an impact on the company’s operations.
Dragon Python Baili (002601)： Layout of the entire titanium industry chain to create an international leader in titanium industry
Dragon Python Baili (002601): Layout of the entire titanium industry chain to create an international leader in titanium industry
The first titanium dioxide company in Asia, the second phase of the chlorination method was put into production as scheduled, and is committed to becoming the world’s first titanium dioxide giant.The company is currently the first in Asia and the third largest manufacturer of titanium dioxide in the world. It has five production bases in three provinces, four places, and its products are exported to more than 100 countries and regions in Asia, Africa, Latin America and Europe.With the second phase of the Jiaozuo alkali 20 concentration / year chlorination method titanium dioxide project put into production, a total of 95 titanium dioxide production capacity is currently injected, of which the chlorination method production capacity is 30 per year.The company strives to achieve the production and sales of titanium dioxide 70, 85, 100 tons in the next three years, of which chloride products reach 15, 25, 30 tons, and annual operating income of 120, 160, 20 billion US dollars.The company’s long-term plan is to form a total production capacity of 60 sulfuric acid method and 70 chlorination method, and is committed to becoming the world’s largest titanium dioxide production and supplier. Demand and supply of titanium dioxide are improving, overseas demand is growing rapidly, and high prosperity continues.From the perspective of the supply side, the effective production capacity of titanium 淡水桑拿网 dioxide in China in 2019 is only 15-20 millimeters. At the same time, severe environmental protection indicators will continue to suppress small and medium-sized sulfuric acid method titanium dioxide enterprises without complete environmental protection facilities; overseas production capacity has continued to withdraw since 2015In addition to the resumption of production, there is no increase in production capacity, and there is no additional capacity production in the next 1-2 years.On the demand side, the domestic demand growth rate has improved, but the rapid growth in the demand for second-hand refurbishment is expected to drive domestic demand. Overseas, benefiting from the rapid economic development of emerging economies, the demand for titanium dioxide continues to grow rapidly.Annual export of titanium dioxide in 2018 was 90.8 for the first time, growing by 9 per year.3%, of which the company exports 30.In May, it accounted for more than 1/3, and the impact of the current depreciation of the RMB is expected to fully benefit. Chlorinated titanium dioxide is used as a fulcrum to extend upstream and downstream to create a layout of the entire titanium industrial chain.Upstream, the company has its own titanium concentrate production capacity for 80 years, and signed an agreement with Ruierxin and Anning Iron Titanium to guarantee the supply of titanium ore; investment 15.US $ 100 million to build a 50-maximum Panxi Titanium Concentrate Upgrade and Transformation Titanium Chloride Slag Innovation Project, which can annually produce 30 substitutes of titanium chloride slag base material, high-quality iron 20 substitutes, and realize titanium chlorideLocalization and supply of raw materials for white powder and high-end titanium alloy projects.Downstream, investment 19.USD 800 million to build a new high-end titanium alloy project with an annual output of 3 high-end titanium alloy materials.The company is devoted to the optimization and upgrading of the entire industrial chain of titanium concentrates—titanium chloride slag—chlorinated titanium dioxide—sponge titanium—titanium alloys, and always insists on promoting the company’s profitability and core competitiveness, and promoting the company’s sustainable development. It is planned to bid for Xinli Titanium Industry to further improve the entire industrial chain of titanium products with outstanding synergy effects.Xinli Titanium Industry is the country’s earliest titanium production and processing enterprise. It currently has domestic reserves of about 500 tons of titanium ore resources. The production capacity of chlorinated titanium dioxide is 6 replacements / year. The production capacity of sponge titanium is 1 replacements / year and 8 additives./ Year high titanium slag production capacity.Xinli Titanium’s upstream synthesis of titanium ore resources and high-titanium slag production capacity and technology can further ensure the company’s raw material supply; the titanium chloride technology in the midstream is similar to the company, using the German Tikang’s boiling chlorination method technology.It helps the company to repair, upgrade, expand and rapidly expand the production capacity of the new vertical titanium production line. Using downstream sponge titanium technology and production capacity, it can cooperate with the company’s titanium alloy new material projects with its own advantages. Production scale and high qualityAfter the completion of the acquisition of titanium sponge, the company will for the first time open up the entire industrial chain of titanium concentrate—titanium chloride slag—chlorinated titanium dioxide—sponge titanium—titanium alloy to consolidate and promote the company to the top in the titanium dioxide industry. Earnings forecasts and investment advice.Regardless of the bid for Xinli Titanium, we expect the company’s EPS to be 1 in 2019-2021.49 yuan, 2.01 yuan and 2.41 yuan, corresponding to PE is 11 times, 8 times and 7 times, maintaining the “buy” level. Risk reminder: the risk of lowering the price of titanium dioxide, the risk of less than expected construction progress of new construction projects, and the risk of less than expected progress and results of bidding.