Poly Real Estate (600048) Annual Report 2018 Review: Procyclical Answer Sheets

Poly Real Estate (600048) Annual Report 2018 Review: Procyclical Answer Sheets

The company enters the settlement period, 2019?
The growth rate of settlement income in 202杭州桑拿0 will still maintain a growth rate of more than 20%; and with the decline in the intensity of land investment, the decline in the company’s operating cash flow will continue to improve.

Investment points: the company will enter the high-speed carry-over period in the future, increase 2019?
The EPS in 2021 will be 1.

98/2.

43/2.

91 yuan (original 2019?
2020 is 1.

90/2.

29 yuan), it is believed that the current loose housing financing, the recovery of the land market will lead to the recovery of the property market prices, and therefore increase the value of the industry.

03 times PE, raise target price to 15.

9 yuan.

In 2018, the company achieved operating income of 1946 ppm, an increase of 32 per year.

7%; realized net profit of US $ 26.1 billion, of which the net profit attributable to the parent company was US $ 18.9 billion, an increase of 20 per year.

9%; realize basic profit income1.

59 yuan, an annual increase of 20.

5%.

The company’s cost of capital is still increasing in 2018 (5.

03%), and the net debt ratio remains at a high level of 123%.

Scale, the company’s overall land investment intensity has fallen at a high level, regardless of land acquisition area or amount of scale ranking in 2017 will fall by about 30%.

At the same time, with the increase in the sales recovery rate, operating cash flow continued to return to positive.

Thanks to the rapid growth of the company’s sales scale, the sales recovery rate reached 88% in 2018, the high level of land acquisition fell, the operating cash flow was significantly positive, and the ratio of sales expenses increased to 3.

1%.

To 2017?
Judging the sales amount in 2018, 2019?
The growth rate of settlement income in 2020 will still maintain a growth rate of more than 20%.

The settlement in 2018 was close to the 2016 sales (2101 ppm), with an annual increase of 32.

3%, the settlement lag is about 2 years.

Considering the lucrative profitability of sales projects in 2016, so 2018?
2019 has entered a period of high profit growth.

And the company has completed the acquisition and settlement of 50% equity in Poly (Hong Kong), further expanding its business area.

Risk warning: Tightening financing policies, sales recovery is not up to expectations.

Gemdale Group (600383) Quarterly Report Comments: Started Accelerated, Completion Slightly Slowed, Performance Locked High

Gemdale Group (600383) Quarterly Report Comments: Started Accelerated, Completion Slightly Slowed, Performance Locked High
Event: The company disclosed the third quarter report of 2019, and the company realized operating income of 425.32 ppm, an increase of 26 per year.91%, achieving net profit attributable to shareholders of listed companies54.25 ppm, a 10-year increase3.41%.  The average settlement price is slightly inclined, but the performance is more locked. The company’s performance growth in the first three quarters of 2019 has improved, significantly exceeding our expectations.In the first three quarters of 2019, the company achieved operating income of 425.32 ppm, an increase of 26 per year.91%, achieving net profit attributable to shareholders of listed companies54.25 ppm, a 10-year increase3.41%.The company’s real estate project has a full-caliber settlement area of 350.650,000 square meters, with a settlement income of 587.6.6 billion yuan, achieving an average settlement price of 1.610,000 yuan / flat, previously slightly down 1.9 PCT.Financial expenses have increased, and the equity of the mother has changed slightly. The sales, management, and financial expense ratios in the first three quarters of 2019 have changed by 0.8, -0.3, 2.2 PCT to 2.6%, 6.2%, 1.3%, the net interest rate is shorter than the first level 3.5 PCT to 19.5%, return to motherhood equity decreased 1.1 PCT to 65.8%.As of the first three quarters of 2019, the company’s book receipts in advance were 855.2.6 billion, advance receipts / operating income in 2018 reached 170%, and future settlement performance is still abundant.  Acceleration of construction has helped boost sales. In the fourth quarter, it is expected to accelerate the carry-over of H1 2019. The company will gradually increase the planned completion area to 876 GM, and the actual completion in 2018 will increase by 30% each year.The accelerated pace of completion may help accelerate the release of the company’s performance.1) According to the incomplete disclosure of the company’s project table, the company actually completed approximately 382 completed areas in the first three quarters of 2019, and completed and completed 43 of the completion plans.6% for the time being, temporarily, the fourth quarter or the main settlement period; 2) In the first three quarters of 19, approximately 868 new construction areas were started, and 70 of the new construction plans have been completed.3%, helping the company to continue the high sales growth trend. In the first three quarters of 2019, the company gradually realized a 北京体验网 contracted area of 7.1 million square meters and a contracted amount of $ 141.8 billion, an increase of 33.7%, sales unit price of 2w yuan / flat, stable high, 3) take the land to stay positive.In the first three quarters of 2019, the company’s total land investment was about 517.810,000 yuan, a total land reserve of 7.14 million square meters, an annual increase of 23.63%, the average price of newly added soil storage is 0.720,000 yuan / square, the amount of land acquisition / sales amount is 0.36.Based on this, we expect to accelerate the completion of carry-over in the fourth quarter.  Sufficient funds in hand, and the short-term and short-term debt repayment pressure of the company’s net debt ratio was significantly higher than in the early stage of 18, mainly due to the increased replacement of short-term debt, but the overall pressure to repay debt was not great.At the end of the reporting period, the company’s asset-liability ratio was 76%, with a deducted asset-liability ratio of 67.9%, a change of 0 from the end of 2018.3, -0.3 PCTs with a net debt ratio of 60.1%, an increase of 12.1 PCT.Funds in hand 413 at the end of the reporting period.500 million US dollars, an annual increase of 11%, the coverage of short cash debt is higher, reaching 2.05.In terms of debt structure, short-term debt accounts for 23.8%, compared with 14 at the end of 18 years.4% has increased, and the debt maturity structure is relatively healthy.  Investment suggestion: As a leading real estate company, the company has a stable financial environment, and its financing advantages continue to be obvious. It has maintained high dividends for many years.In the first half of 19, the construction started and the completion plan was raised. The construction in the first three quarters actively promoted the rapid increase in sales, but the completion was slightly inclined, and the local area-to-sales ratio reached 0.36.The company’s settlement performance increased rapidly in the first three quarters, but considering that there may be a large number of cooperation projects completed and settled in the fourth quarter, we slightly lowered our profit forecast, and the net profit for the years 19-20 was 99.1 billion, 123.52 million is adjusted to 97.2.1 billion, 113.780,000 yuan, corresponding to EPS by 2.20, 2.74 yuan / share adjusted to 2.15, 2.52 yuan, the corresponding PE is 5 respectively.81X, 4.96X, maintain “Buy” rating.Risk reminder: policy changes are less than expected, and house sales increase sharply

Bright Dairy (600597) Commentary Report: Overweight Moslian Room Temperature Yogurt Business Company Expects Future

Bright Dairy (600597) Commentary Report: Overweight Moslian Room Temperature Yogurt Business Company Expects Future

I. Overview of the event On May 29, 2019, Bright Dairy announced that it had hired Liu Haoran to become its new spokesperson for room temperature yogurt Moslian.

Second, analyze and judge the three ends of the product, channel, and marketing, and look forward to the return of the room temperature milk revenue in 19 years. Product end: In response to the aging problem of Moslian room temperature yogurt products, the company upgrades the product from both aspects of taste and packaging., New Mossarian’s taste is richer, packaging is more exquisite, and terminal feedback is good; on the channel side: instant rebate cashing overlaps and serious pressure control orders are conducive to boost dealer sales enthusiasm and promote the healthy development of the channel; marketing side: the new chairman comes onAfter that, the company cut down on the introduction of tighter expenses, expanded the adjustment of the fee structure, and increased the release of air expenses for room temperature milk. On May 29, 2019, the company hired the popular star Liu Haoran as its new spokesperson for room temperature yogurt Moslian.Demonstrates the company’s determination to revitalize Moslian room temperature yogurt.

In summary, the three ends of the product, channel, and marketing are all working 武汉夜生活网 together, and we look forward to returning the room temperature milk revenue to the growth track in 19 years.

Low-temperature milk business: Deep cultivation of East China base camp should be tailored to low-temperature products based on local conditions, optimistic about the steady growth of low-temperature milk. In the low-temperature milk business, the company deeply cultivated East China base camp, the consumer spending power of the East China market is strong, and the company can directly increase the price of pasteurized milk.The structure of low-temperature products was upgraded while the sales volume changed little.

To sum up, the company deeply cultivates the base of East China to raise the price of low-temperature milk business and promote the upgrading of its product structure. The volume has stabilized and the 北京夜网 price has increased. We are optimistic that the steady growth of low-temperature milk business will drive the company’s reporting end to achieve a double income.

Subsidiary Xin Laite plus size liquid milk + acquisition of Yimin No. 1 factory to deploy cold drink business. The company gradually benefited from 19 years. Subsidiary Xin Laite cooperated with local supermarkets in New Zealand to increase the size of liquid milk business through OEM processing.The interest rate is higher than the original large bag powder business, so adding liquid milk will help improve the company’s profitability. At the end of 18, the company acquired Yimin No. 1 Factory to intervene in the gap in the cold drink business. Since 19, the company has launched Moslian ice cream.For new products, the company is expected to gradually benefit from the new business of cold drinks through the improvement of the distribution rate.

Third, investment proposals are expected to achieve operating income of 218 companies in 19-21.

03 ppm / 228.

08 ppm / 239.

1.5 billion, +3 a year.

9% / 4.

6% / 4.

9%; net profit attributable to listed companies was 4.

7.6 billion / 5.

6.7 billion / 6.

01 ten percent, +39.

4% / 18.

9% / 6.

1%, equivalent to 0 EPS.

39 yuan / 0.

46 yuan / 0.

49 yuan, corresponding to PE is 26X / 22X / 21X.

Based on wind ‘s consistent expected data, we estimate that the overall dairy sector evaluation in 2019 will be 26 times. The company estimates that it is consistent with the industry. Considering that the three ends are working to help normal temperature milk return to the growth trajectory, the price increase + structural upgrade will help the stable growth of low temperature milk.Catering to the advancement of new products, the company’s performance will be gradually thickened. It is expected that the company’s performance growth will be faster than the industry average in the future.

In summary, we give a “recommended” rating.

4. Risk warning: raw milk price rises more than expected; environmental protection risks; food safety risks

Do not love to climb the stairs, the body has problems?

锘?

Do not love to climb the stairs, the body has problems?

Many people don’t like to climb stairs, because climbing stairs is too tired, and you can’t walk a few layers to make people breathless.

Therefore, as long as there is a convenient and efficient elevator, you are asking me not to take the stairs.

However, many people just attribute the climbing stairs to too easy to get tired. In fact, this kind of tiredness is because of your lack of blood.

銆€銆€Qi deficiency constitution is a constitutional state characterized by lack of gas and low vitality and low functional state of the organs.

Qi-deficient gas should be understood as an energy, a comprehensive concept.

Qi is the basic substance that maintains the life activities of the human body. It is the energy of the human body, and the main deficiency of qi is mainly weakening of vitality.

銆€銆€The pathological reflection of qi deficiency can involve all aspects of the body, such as qi deficiency, weak external force, muscle surface is not solid, and easy to sweat; qi deficiency is limb muscle dystrophy, body fatigue and fatigue; qi deficiency is not clear, Qing dynastyMental dysfunction, dizziness and tinnitus; qi deficiency is powerless to lead blood, then the pulse is weak or weak; qi deficiency is imbalanced in water and liquid metabolism, water is not fluidized, transport disorder, can be condensed into drink, even water is rampantEdema; qi uranium causes visceral dysfunction, which shows a series of signs of viscera and weakness.

銆€銆€How to identify yourself as a qi physique?

If your muscles are soft and you climb the same floor as others, it is easy to pant; the voice of your speech is usually weak, you always feel that you are out of breath, the gas is not enough; easy to sweat, as long as the intensity of physical labor is strongIt is easy to be tired; observe the tongue phase, the tongue is reddish, the tongue is fat, and there are scallops on the side; the character is introverted, the mood is fluctuating, the timid does not like the adventure; the defensive ability is reduced, it is easy to catch a cold, it is difficult to heal after the onset, and it is easy to suffer from internal organs.Sagging, etc.; can not bear cold evil, wind evil, summer evil.

銆€銆€Qi deficiency and qi deficiency are not the same.

Qi deficiency is a syndrome of Chinese medicine.

Maybe you are sick or too tired during this time, you will have symptoms of qi deficiency. When you are sick or your life is adjusted, you will not be empty.

However, qi physique is a state of long-term deficiencies. If a person is not interested in anything, he always feels tired and can’t breathe a few words.

Still sweating, but don’t feel hot, it should be qi.

銆€銆€There are two reasons for qi deficiency.

Congenital deficiency and acquired loss.

For example, a certain exercise, especially after sweating after exercise, is blown by the wind, it is easy to catch a cold, and the cold has to adjust its vitality. Over time, the vitality is also consumed.

銆€銆€In addition, nowadays popular weight loss, but the vitality is reduced by your weight.

The less you eat the dieter, the direct result is the reduction of acquired qi.

Because human activities are constant, to satisfy this kind of activity, you have to use the energy stored in your body.

Vitality is congenital, only a small can in life, it should nourish it.

But in a weight loss battle, you not only lose meat but also gas.

Running in the sun, running passion, Madrid

锘?

Running in the sun, running passion, Madrid

Living too slowly Madrid’s day is really long, and you almost never know how to pass these hours.

Just in April, the sunset in Madrid is already 10 o’clock in the evening.

To be honest, the daytime too long made me very uncomfortable. When I walked out of the hotel door, I found the pedestrians on the street stunned.

What exactly is going on?

Is the enthusiasm of Madrid welcoming a tourist from the far east?

I asked the doorman of the hotel here whether it was Madrid or Baghdad. After listening to it for a long time, I understood the word that he turned over and said it in the mouth, SIESTA, which was called a Spanish nap.

In the warm sunshine of Spain all year round, the comfortable Spanish people came up with a good way to pass the time – to sleep.

The shops of the entire city, the hotel closed at two o’clock in the afternoon, and reopened until nearly 6 o’clock in the evening.

Ok, okay, you sleep, I will withdraw first.

銆€銆€Enthusiasm is a good thing, especially when you don’t even have a mouth open, there will be a few sun-brothers around to give you directions.

The strong sense of ownership and the worship of the spirit of Leifeng made the Madrid people simply embarrassed to say the words “don’t know”.

So you will see an uncle patted me in front of me, screaming at the Chinese people and Kung Fu Li Long live, he stuffed fruit in my hand, and I strongly hugged and kissed, then pointed meWrong way.

I didn’t blame him. I know that almost half of the Madrid people you met on the road didn’t recognize the road, but their enthusiasm and frustrations like the sun in the sky quickly melted these foreign ice creams.Going in the opposite direction.

God bless you.

銆€銆€For their blessing, I found the direction after two 180 degrees in situ.

From Puerta del Sol, all the way to Plaza de Espa?a.

In addition to being a place for carnival, it is also a place for literary lovers to worship.

The center of the square is erected in the center?

According to the estimate of Cervantes, the author of Ji Jude, the statue of Don Quixote and the servant Sancho, who was riding a horse, stood in front of him.

“Let’s see again,” I heard Sancho said. “Those are not giants, they are windmills.

Those things like long arms are windmill wings that turn against the wind and can drive stone grinding.

“The confident and full of Don Quixote is blowing his beard and blinking his eyes: “You are a layman in the battle.”

They are giants. If you are afraid, stay with the little ones standing there and see how I can fight with them.

“Is that talking about me?”

“I asked, but did not answer.”

Even if this old-fashioned guy becomes a sculpture, he will never give up his knight’s dream. No matter what kind of child the world becomes, he will understand and survive according to his own rules. This is why he was cast here by the Spaniards.

Let him face the magnificent Madrid Tower next to the square. Is the tower a windmill in the modern world, and is it a church?

Ji Jinde’s next opponent.

銆€銆€Nearly 8 o’clock, the sun is still hot.

I bought a beer and slowly drank, watching the children of Madrid play football in the central square.

There are also a lot of guys who look around and find that I am just as free.

If in this country the chip can be just the peak of traffic jams, everyone is on the road anxiously waiting for their hair to turn white, and Madrid’s well-run traffic management and unique weather factors determine that they will never be so busy.Living and rushing to death, everyone looks like nothing works all day.

The only question that these wandering guys are concerned about now is which pubs to eat ham and then order a glass of iced beer.

銆€銆€Hey, hey, happy!

In any Spanish tavern, there are raw hams that are cut as thin as paper.

What makes it special is that pigs that use pickled ham are fermented on the hills full of hazelnut trees. Their only food is the hazelnuts, and the meat is fat and thin. The marinated ham is eaten with scorpions.Scent.

If you encounter this dish, be sure to try to cut the honeydew melon into small pieces and roll the honeydew melon with ham slices.

銆€銆€But no one told me these tricks, I was still looking for a restaurant that looked more historical and not too dark.There are not many guests inside.

The boss warmly received me, “Look!

Another guest is coming.

He said: “Bitter your wife.”

“I am very polite to correct him: “I am Chinese, not Japanese.

My family is very good, thank you.

“All are the same, haha.

He followed the two mustaches on his lips and looked at my stomach, expressing his satisfaction.

I ordered an assorted platter, a blood sausage, a nude chicken.

The boss told the kitchen to do it well, and asked me if I would like to visit this very small built-in restaurant.

No matter how good it is, I heard some local historical stories before eating, which will lead to a good appetizing effect.

“Have you seen this guy?

“The boss pointed at a photo, and his expression immediately awe-inspiring. “This is the famous madman Lambero in Spanish history. He died in the bullring at the age of 21.

At that time, his stomach was smashed by the sharp corner of the bull. My God, his intestines flowed to the ground, and the blood squirted.” I suddenly felt that it was better to wait for my blood in the table, you saidIt.

銆€銆€From the restaurant, I inquired about the nearest Flamenco Ballroom.

During the day, you will think that the whole street in Madrid is a man who is swaying, a woman who smokes a cigarette, and a Japanese who is a thief of Gypsy and a “bitter wife.”

But at night, these men and women put on black leather boots, white embroidered jerseys and red dresses that fold over, and danced flamenco, you can’t recognize them.

Pushing the door of the small theater, the high-pitched music is accompanied by the smell of wine and smoke.

A man with long hair covering his eyes was dancing. He suddenly put his hand on his chest and then struck the floor with various parts of his foot. With the rhythm of the guitar, he took a small step, a sudden stop, and then leaped.

Next to a female dancer is clapping his hands, screaming, and shouting one or two times in the rhythm.

At the end of the song, the female dancer came on stage, holding her hands in Flamenco’s unique instrument, the castanets.

In the dance, in addition to the guitar, the castanets are essential items.

The sounds from the left and right hand casters are not the same, the sound on the left hand side is low, representing the male; the large amount on the right is high, representing women.

The two sounds are intertwined, and the flowers are entwined with flowers.

As the rhythm grew faster, she threw away the castanets, and her hands flicked the red-red lotus leaf-tailed fishtail skirt. Throughout the process, her eyes never looked down and completely took the stage.The air condenses on oneself.

The whistle below, the sound is good.

At this time, several women came up, two teams, one pair of people attacked the other team on the rhythm. When they pushed to the corner, the other side began to return, and the two pairs rubbed their shoulders in the gap of the other side.After, and then approaching again, this time is a pair of two, as if two surrealistic butterflies are flapping their wings, this is the group dance in Flamenco, and some people are fighting.

After a while, when you came to me, there was a tens of seconds of silence. The music rang, and a female dancer began to sing with a high voice. The hoarse voice contained endless sadness and bitterness.

She is telling the history of Gypsy, how their ancestors suffered and how to survive, but they never found their own land.

The voice went straight into the sky and was deeply engraved in my ear.

銆€銆€At four in the morning, I and another Chinese tourist I just met walked out of the ballroom. The sky was already bright.

Our stomach is hungry, at this time you guess what I found?

A fritter shop!

When I walked in, I found that people who eat fried dough sticks are eaten with chocolate fritters. When we come up with the things we want, I have been soaked by the taste of chocolate.

Before I put the fritters in the bowl, I fell asleep on the table.

銆€銆€It’s too early to die when the sound outside the window wakes me up from the lovely little bed in the hotel. It should be afternoon.

Anyway, I have given up any effort to determine the time, and said goodbye to my own biological clock.

Unlike usual, today’s streets are bustling, people are excited and gradually gather into a huge crowd, and they only have one direction – Ventas Bullring.

銆€銆€Hemingway said that life is similar to bullfight.

It is not that you beat the cow, or the cow kills you.The Spanish bullfighting evolved from the ancient hunting. In the Middle Ages, whenever the king crowned, married, the birth of the prince, or the triumph, the royal palace aristocrats helped the horse.

In order to celebrate the birth of Prince, the King of Spain, King Lulu, once performed an ancient bullfighting ceremony in the city of Varatri, and at the same time killed a fierce bison from the moment of wielding a spear.

This form ushered in a climax in the middle of the eighteenth century. A hiking warrior struggled with the cows and stabbed the ox, which caused a sensation to raise the skills of the bullfighting to a new stage.

What I want to declare here is that I don’t really appreciate the sport of bullfighting.

From the Colosseum in ancient Rome to Spain in the eighteenth century, I think that human beings still had a little dignity at that time, at least two lives were placed in an equal position for a duel. The bullfighting at that time was mainly brave.

A cow and a fighter with a knife have two or two pairs.

Until the first fighter was killed by the cow, the second fighter went up again, the second failed, the third, the fourth. The final outcome was often a tired bull and a piece lying on the ground.The body.

Because the risk is too great, people want to enjoy the thrill of defeating other kinds, so there is a bullfighting school.

Now the bullring is spread across Spain’s urban and rural areas, with a total of about 300.

Among them, more than forty people can accommodate more than 10,000 people, and the largest in Ventas in Madrid can accommodate 25,000 spectators.

The number of bullfightings in the country is at least 5,000 or more per year.

Ventas, here is the final step in teaching the Spanish spirit. If you like to come to Madrid and choose to sit in the Ventas Bullring, you can’t choose to close your eyes.

銆€銆€Two predecessors wearing medieval black velvet official uniforms, riding high-headed horses in front, followed by a pair of bullfighters and several flag bearers wearing golden embroidered and silver-embroidered tight-fitting bullfighting suits.

Then there were six stabbing hands, wearing wide-brimmed hats, wearing bodysuits, holding spears and riding on horseback wearing red armor.

Then they walked into the baseball darts. They wore red tights, knee-length shorts, wide-banded ribbons with golden waists, bright multicolored boots with adjustable ankles, short darts with shiny hands, and seventy centimeters long on the shuttle.The handle of the dart is wrapped in colorful silk.

The last appearance was a beautifully decorated four horses and several bloodstained sweepers for the dead.

The pedestrian slowly crossed the bullring to meet the audience, and the leading magistrate received the key to the cow circle and then dispersed.

The big horn began to introduce the cow’s name, age and weight.

The bulls in the bullring are carefully selected and specially trained. They are black and black and have sharp angles. They are pure African bulls and often weigh more than a kilogram.

銆€銆€A bull like a heavy tank rushed into the bullring.

Several matador’s assistants, from several guards, took a pink cloak and continually went out to tease the cows.

In the game, their purpose is to lure the cattle to the end of the field.

It rushed to this side for a while and rushed to the other side.

The assistant hid behind the cover and caused the audience to laugh.

After a few teasing and stimulation, the Bulls are even more angry.

At this time the band played a passionate piece.

Place the snails on the field.

They held a spear and ran across a horse.

The Bulls are looking for targets, and when they see someone coming into the field, they will raise their double horns and rush to the body with the weight of the whole body.

Since every horse has heavy armor, the bull can’t cause any harm to the horse. The thorns are also at this moment. At the moment when the cow rushes to the side, the thorn cow uses a spear in the head of the cow.Sting two times.

The stabbed cow has turned a little dizzy.

The dart master was jumped out of the depths of the field.

They don’t have horses and they hold flower darts in their hands.

The violent bulls came and rushed, and the dartsman rushed to the face. At the moment of the collision, the homeopathic body flashed, and the child’s darts were smashed into the back of the cow.

銆€銆€After three times of darts, there were six shuttle darts on the back of the cows moving in the pool of blood.

At this time, under the accompaniment of the band, the real bullfighter held the sword with the sword and the red flag.

After he took off his hat and greeted the magistrate and the audience, he continually swayed the red flag and teased the bull.

Every time the Bulls rushed, he flashed a step to let the attack.

The bull was swept past him with a red cloth whirlwind.

In an attack, the Bull lost too much blood, his center of gravity was unstable, and he almost fell.The audience also produced a squeaky voice, expressing praise for the matador.

The irritated cows had big hair, their eyes became red, their eyes were only copper bells, the magistrate issued a command to stab the bulls, and the bullfighter clipped the red cloak under his arm, once again in an elegant footstep.Only a few meters away from the cow.

In the face of the Bulls, the matadors have expanded on a large scale and seem to be embracing the cows.

The cow seemed to be aiming at it. It was its last impact. It stabilized the body, planed the ground with its hoof, and looked for the flaws of this last opponent with bloodshot eyes until the bullfighter stood up and made a “beep” sound.This signal stimulated it, the bull rushed, the heavy hoof stepped on the yellow sand, then sprinkled the blood on the spot, the bullfighter sword squirted, then a beautiful leap, the sword was sent straight into the otherThe body, the sharp blade penetrates the shoulder of the cow, straight into the heart, and it dies.

銆€銆€As stated in the book “Death in the Afternoon”, the Madrid people are playing the elegant feeling of this lifeline.

This is a good explanation of the origin of the name of Madrid.

Legend has it that in ancient times, Madrid was only a place where there were only a few families in the virgin forest. One day a child was playing at the door of the house, a black bear rushed to him, and he rushed to the tree in a hurry, and then he rushed to the distance.Mother shouted: “Mom, run!

Later, in order to commemorate this brave child, everyone used the appropriate sentence to name the city.

This story always reminds me of a picture, a beautiful woman wearing a long skirt, followed by a beast that takes her life, and she is now immersed in this wonderful surrealistic fantasy.in.

Run, Madrid.

銆€銆€Two choices for the five-star hotel in Madrid.

Westin Palace Madrid Hotel Address: Las Cortes Plaza 7 Madrid Westin 28014 The Westin Palace Hotel offers guests a classic and beautiful colour, with a stunning exterior in this Louis XVI building.There are a variety of leisure and entertainment facilities, and the service is very good.

Together with the friendly and considerate waiter, it is pleasant and forgetful.

銆€銆€2.

AC Santo Mauro Madrid Address: Zurbano 36 28010 The Madrid Hotel is a 5-star hotel in the heart of Madrid’s Chamberi, with a gradual access to Paseo de la Castellana.

The area is full of historic buildings from the 19th century. It was once a residence and palace building of the Spanish aristocracy.

One of the palaces is today’s Ac Santo Mauro, which celebrated its 100th anniversary in 1994 and was refurbished in 1999, combining classic style with contemporary architectural elements.

Health taboo: Although mulberry leaves are the king of plants, but three things do not pay attention, they are in vain

锘?

Health taboo: Although mulberry leaves are the king of plants, but three things do not pay attention, they are in vain

Many people who mention mulberry leaves will think of cute silkworms, which are not only the main food of silkworms, but also widely used Chinese herbal medicines.

Mulberry leaves have low requirements for the growing environment. Therefore, there are many places where mulberry leaves are cultivated in general. Don’t look at the common mulberry leaves. In fact, its efficacy is very outstanding. Today, everyone will fully understand the taste of mulberry leaves.Chinese herbal medicine.
Mulberry leaves are actually very common and common Chinese herbal medicines. Chinese medicine believes that it is bitter and cold, so it has the effect of evacuating the cold and clearing the liver and clearing the eyes. So what are the benefits of eating mulberry leaves regularly?

Can mulberry leaves treat certain diseases?

Benefit 1: Evacuation of cold Chinese medicine believes that mulberry leaves belong to the lung and liver, the unique cold and cool nature gives it the effect of evacuating cold, often compatible with chrysanthemum, platycodon and other Chinese herbal medicines, mainly used to treat wind-heat type colds.
Benefit 2: Regulate blood lipids, blood sugar and blood pressure. Mulberry leaves contain amino acids, alkaloids and multivitamins that are beneficial to the human body. Firstly, they can inhibit sugar metabolism and enhance insulin secretion, lowering blood sugar lowering effect. Secondly, mulberry leaves can improve blood.In the case of flow, the activity of angiotensin-converting enzyme is increased and the effects of blood pressure lowering and lowering blood pressure are lowered, so that patients with hypertension, hyperlipemia and hyperglycemia can appropriately drink some mulberry leaf tea.

Benefit 3: The peeling hormone in the beauty and mulberry leaves can promote the synthesis of protein in the body, and can improve the rough and dull skin. In addition, the alkaloids of mulberry leaves can inhibit the growth of harmful bacteria in the body, and can play while adjusting the surrounding environment.The effect of laxative, this unique beauty and beauty effect is an important reason for women to welcome, especially the long-term constipation patients do not hinder the drinking of some mulberry tea conditioning.

Benefit 4: Anti-inflammatory antibacterial agents have information to show that anti-inflammatory and anti-inflammatory components of mulberry leaves, especially for Staphylococcus aureus or Salmonella typhimurium, have a good inhibitory effect, so when the body appears inflammation, drink a cup of mulberry teaIt would be more appropriate.

Although the benefits of mulberry leaves are many, only the correct intake of mulberry leaves can exert the maximum effect of mulberry leaves. What should be paid attention to during the process of eating mulberry leaves?

Let me talk about 3 points first: First of all, during the menstrual period, it is not suitable to eat mulberry leaf mulberry leaves, which is a cold Chinese herbal medicine with cooling blood to stop bleeding, while women have debilitating performance during menstruation, so it is necessary to avoid eating mulberry during menstruation.Leaves, prevent mulberry leaves from aggravating body cold symptoms and trigger menstrual irregularities such as dysmenorrhea or menopause.

In fact, the use of mulberry leaves should not be excessive. Although mulberry leaves have significant diarrhea and anti-inflammatory effects, excessive consumption often causes adverse effects. Its cold characteristics can damage the spleen and stomach, often causing nausea and loss of appetite.Discomfort symptoms.
Finally, it is not advisable to combine mulberry leaf tea in the fasting state of fasting mulberry leaves. This is because cold mulberry leaves can stimulate the secretion of gastric acid, and it also stimulates the kidneys, often invisibly damaging the stomach and kidneys.It may even aggravate the original symptoms of the disease, making people’s faces worse and worse.

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