Suning Tesco (002024): Smart retail enters the era of ten thousand stores, omni-channel, multi-format expansion, and the scale effect of traffic entry will gradually become apparent

Suning Tesco (002024): Smart retail enters the era of ten thousand stores, omni-channel, multi-format expansion, and the scale effect of traffic entry will gradually become apparent
Investment Highlights Event: Suning released its 2018 annual report and achieved a sales volume of 3,367 in 2018.570,000 yuan, an increase of 38 in ten years.39%, including online sales of 2,083.54 ppm, a 64-year increase of 64.45%.In 2018, it achieved operating income of 2,449.57 trillion, +30 a decade ago.35%, the net profit attributable to the parent company is 133.28 ppm, an increase of 216 in ten years.238%.The consolidated gross profit margin in 2018 increased by 0 compared with the same period last year.91%.The reported company strengthened the optimization and upgrade of the store structure. The same-store growth rate was stable. The 3C specialty appliance stores / Suning Tesco direct-operated stores / Red 厦门夜网 Kids Maternity and Baby Stores increased comparable store revenue by 2%.39% / 9.35% / 29.78%.  Offline: Multi-format, multi-tier market retail stores exceeded 10,000, profitability rebounded steadily.  Continue to optimize the “two big, two small, multi-specialized” offline store layouts, and build a smart retail channel network covering different market levels and different consumer needs. The total number of self-operated / affiliated stores reached 11,064, and the advantages of offline chain resources continued.Consolidation: (1) 2,105 home appliance 3C home life specialty stores: continue to upgrade the format of professional large stores, and at the same time promote the cooperation with the business supermarket format, export professional 3C home appliance operation capabilities, settle in RT-Mart, Auchan, Bufeng Lotus Supermarket, relocationThere are 478 supermarket stores; (2) 4,439 county-level market stores: Suning accelerates market sinking and taps the consumption potential of county-level market. Suning Tesco has 2,368 direct-operated stores, retail cloud franchise stores accelerate the expansion of light assets and assign valueIt can reach the low-end market, reaching 2,071 by the end of the year; (3) Multi-format stores reached 4,454: 157 red-baby mother-baby stores and 8 Su Xiansheng supermarkets to create O2O carriers for mother-to-baby / fresh-food supermarkets to meet the diversity of consumersConsumer demand; 4,177 small shops in Suning and 112 franchised stores in Diya to create offline super traffic entrances to support community business development; (4) Hong Kong, Macao and JapanWe have 66 overseas stores.  In 2018, through the expansion of high-frequency product categories to effectively increase customer flow to stores, strengthen precision marketing and other means, the same-store revenue of home appliance 3C specialty stores increased2.39%; Suning Tesco’s directly-operated stores have deepened the third- and fourth-tier markets, continued to expand product efficiency, and increased same-store revenue by 9.35%; The business model of Red Kids Maternity Stores is gradually explored and matured, the quality of operations has steadily improved, and same-store revenue has increased by 29.78%.  Online: Strengthen product expansion and drainage, community marketing and industry linkage to drive sales growth; Online self-operated GMV in 2018 is at least +53.70%, open platform GMV +100 in advance.31%.  Rapid online growth has been continuously confirmed, with an online GMV of 2,083 in 2018.54 ppm (including tax), an increase of 64 in ten years.45%, the proportion increased to 62%, becoming a powerful engine that drives the overall sales growth; of which, the self-operated GMV reached 1,497.92 ppm (including tax), the open platform GMV reached 585.62 trillion (including tax).  (1) Continuous expansion of product introduction and drainage, development of online fast new categories, continuous enrichment of fast moving consumer goods and home improvement department stores, and introduction of new categories to new merchants accounted for 86.01%; pay attention to refined operation management, strengthen related recommendation, carry out precise marketing, and effectively increase user repurchase rate.(2) Carry out democratic marketing, vigorously promote Suning’s push-to-purchase, commission system to encourage pushers to share, and tap the consumption bonus of the push-to-purchase market.(3) Strengthen industrial linkage and deepen farming 4.The 07 billion retail system member demand, through access to life, entertainment and other high-viscous membership rights and interests, has led to the rapid growth of some members.  Financial data analysis: Every increase in comprehensive gross profit margin is 0.91%, the expense rate increased by 0 in ten years.47%, net profit increased by 216 in ten years.35%.  Gross profit margin: Commodity price control effectively increased daily sales gross profit, product structure adjustment, supply chain optimization and single product operation to improve gross profit level, open platform, logistics, finance and other value-added services income increased. The company’s comprehensive gross profit margin increased by 0 compared with the same period last year.91%.  Operating expense ratio: As a result of the strengthening of talent reserves and the amortization of management expenses accrued from the employee shareholding plan, the personnel expense ratio rose to zero in stages.54%; advertising promotion costs increased, advertising promotion rate ratio increased by 0.28%; omni-channel scale effect brings offline rent, decoration, water and other fixed fee rates down by 0.58%; warehousing and distribution network construction supporting the development of new categories and sinking channels has been gradually improved, and the logistics rate has dropped by 0%.13%.The company’s total expense ratio increases by 0 every year.47%.  Net profit: The net profit attributable to the parent company in 2018 was 133.28 ppm, an increase of 216 in ten years.35%, mainly due to the sale of Alibaba shares, logistics real estate funds to buy company assets and other investment income and the impact of changes in fair value.In order to effectively strengthen cash management, Suning launched an investment and wealth management business. Without taking into account the investment and wealth management income generated by this part of the restructuring of operating funds, Suning realized a deduction of non-net profit in 20183.100 million, a year-on-year decrease of 41%.  Cash flow: The net cash flow from operating activities in 2018 was -139 trillion, mainly due to the rapid development of financial business and the increase in loan size brought about a net cash flow replacement.6 billion.In addition, the company strengthened financial support to suppliers and actively developed sales to the public. The increase in the size of accounts receivable has dragged down operating cash flow performance.  The logistics resources are abundant, the service capacity is continuously improved, and the logistics service income is increasing by 40% every year.82%.  As of the end of December 12, 2018, Suning Logistics and Tiantian Express had a total area of 9.5 million square meters of warehousing and related supporting facilities, with 27,444 express outlets, a logistics network covering 351 prefecture-level cities across the country, and 2,858 district and county cities.Increase by 40 compared to the same period last year.82%.Based on the development needs of fresh products, the construction of cold chain logistics has been accelerated, and 46 fresh cold chain warehouses have been expanded to cover 179 cities, effectively improving the distribution efficiency of fresh products.At the same time, we will focus on improving the logistics service capabilities of the county market. Until the end of 2018, 264 county-level comprehensive service centers have been established.  Suning’s financial capital continued to strengthen, and financial services revenue was two years.44%.  Suning Finance carefully focused on the needs of the Suning ecosystem, gathered core businesses and products, accelerated the transformation of fintech companies, exported fintech capabilities, and increased operating income by 80%.44%.The funding for the B round of capital increase and share expansion of Suning Financial has been fully in place. The C round of capital increase and share expansion will continue to strengthen capital strength, promote product and service innovation, and increase user stickiness.In the future, if Suning Financial Services is separated separately, it will significantly optimize the operating cash flow of listed companies after it is released.  Investment suggestion: Smart retail enters the era of 10,000 stores, omni-channel multi-format expansion of traffic entry, scale effects will gradually highlight, and maintain a “buy” rating.  Suning has been cultivating home appliance retail for more than 20 years, and has formed a broad economic moat. The omni-channel home appliance retail market share has steadily ranked first, and offline chains have entered the era of ten thousand stores.Under the scale effect of multi-channel multi-format operation, the profitability of offline stores rebounded, providing the company with a rich and stable source of income.Offline will promote the layout of stores around “two big, two small, multi-specialized” to fully meet the diversified consumer demand; online will consolidate the advantages of traditional live products, increase the transformation of open platform merchants, strengthen refined operations, and improve user recoveryPurchase rate.When the e-commerce search traffic bonus peaked, the value of offline stores ushered in a revaluation. Suning expands new traffic entrances based on the original stores: (1) Retail cloud franchise stores quickly promote market sinking and tap county-level marketsConsumption potential; (2) Suning fights to seize the dividends of social traffic and strengthen the industrial linkage of the retail system; (3) Suning’s small stores go deeper into the last mile to support the community group business in order to reduce costs and draw highly sticky social traffic in the community.Suning is a retailer, but also a supply chain enabler and retail service provider. It continues to export supply chain service capabilities such as logistics and finance, and service revenue is expected to grow in volume.If Suning Finance achieves an independent spin-off and listing, it is expected to significantly optimize the cash flow of listed companies and reorganize the financial impact after the listing.The company’s main business has solid profitability and clear strategic development logic. It is expected to achieve operating income of 3,102 in 2019-2021.44 / 3,896.62 / 4,815.4.2 billion, realizing net profit attributable to mother 177.19/22.63/67.5.9 billion.  Risk prompts: 1. Online-offline integration is less than expected, and online business costs have soared; offline store renovation has been hindered, poor expansion of new store operations has intensified and intensified, causing the company’s profit growth; 2. Search traffic dividends have diminished and Tmall flagship store trafficWeakness of advantages; Suning’s new purchases of retail sales, retail cloud, Suning’s small stores and other new traffic entrances did not develop smoothly, and traffic costs rose; 3. Insufficient risk control capabilities of financial services, increased bad debts continued to drag the Group’s cash flow to deteriorate.

Zhongshun Jierou (002511): Expected benefit control of expected benefit cost of pulp price down

Zhongshun Jierou (002511): Expected benefit control of expected 西安桑拿 benefit cost of pulp price down

Key investment events: Zhongshun Jierou released the 2018 annual report, and the company achieved revenue of 56 in 2018.

79 ppm, an increase of 22 in ten years.

43%; net profit attributable to mothers4.

07 million yuan, an increase of 16 in ten years.

59%; net profit after deduction of non-return to mother3.

930,000 yuan, an increase of 20 in ten years.

27%.

In the fourth quarter alone, the company achieved revenue of 15.

9.8 billion yuan, an annual increase of 24.

20%; net profit attributable to mother is 0.

94 ppm, a decrease of 8 per year.

08%; net profit after deduction of non-return to mother 1.

0.6 million yuan, an increase of 10 in ten years.

50%.

The optimization of product structure and the increase in prices caused a ton price increase, which put pressure on the upward pressure on pulp prices.

We estimate that the ton price of the company’s products in 2018 is 12,161 yuan, an increase of 4 per year.

88%, the increase in the price of tissue paper and the increase in the proportion of high-end products (in 2018, the sales revenue of Face, Lotion and natural wood series products accounted for more than 60%, an increase of about 20%) is the core reason for the ton price rise.

The gross profit per ton of the company’s products in 18 years was 4,141 yuan, an increase of 2 per year.

25%.

Net profit per ton was 871.

5 yuan, unchanged from 17 years.

The company’s gross profit margin in 2018 was 34.

1%, a decline of 0 per year.

8pct (Q1 / Q2 / Q3 / Q4 gross margins are 38.

8% / 34.

4% / 33.

2% / 31%, +2 for ten years.

4cpt / -1.

6pct / -1.

9pct / -1.

8pct).

The rising pulp price is the core reason for the decline in the company’s gross profit margin. In 2018, the average price of coniferous pulp / broad leaf pulp was 6819/6321 yuan / ton, which was an increase of 29.

3% / 31.

1%, but the price increase has offset the upward pressure on pulp prices to a certain extent.

We judge that with the decline of the cyclical dividend of the papermaking industry and the decreasing margin of non-wood pulp conversion, the supply and demand pattern of the wood pulp industry may change. In 2019, the pulp price may mainly fluctuate in a downward trend, which is good for the company to release cost pressure.

Inventory pressure has eased slightly, and cost control has shown initial results.

As of the end of 2018, the company’s inventory was approximately 8.

600 million, compared with 18 in the previous quarter and 18% in the third quarter.4%, we think the core reason is that the company has accelerated the active digestion of inventory under the downward trend of pulp prices.

We estimate that the company’s raw material / finished product inventory is about 59 days / 33 days, respectively.

The company’s sales expense ratio in 2018 was 17.

8%, down by 1 every year.

3pct; management expenses (including R & D expenses) rate 5.

5%, increase by 0 every year.

1pc; financial expenses 1%, flat for many years.

The effective control of sales expenses indicates that the increase in the company’s channel investment is better than the improvement.

In terms of net interest rate, the company’s net profit in 2018 offset 7.
.

2%, zero for one year.

3pct (Q1 / Q2 / Q3 / Q4 net interest rate is 8 respectively.

1% / 7.

4% / 7.

6% / 5.

9%, ten years +0.

8cpt / + 0 pct / + 0.

2pct / -2.

1pct).

The industry concentration is expected to increase, and the idea of leading high-end products will remain unchanged.

The tissue paper market size is nearly 100 billion yuan, and the market size growth rate from 2011 to 2016 is stable at 6.

More than 6%.

However, there are about 1,500 companies in the industry. The top four brands only account for about 35% of the market share, and CR15 is about 60%. There is room for improvement in the concentration of the industry.

Bringing along with consumption upgrade factors, brand value is becoming increasingly important.

In addition, the high price of pulp has made it difficult to survive the small and medium capacity, and the concentration of large factories has increased.

Zhongshun Jierou increased R & D investment under the background of consumption upgrade to create high-end products, with a view to achieving double growth in revenue and profits. In 2018, the company’s R & D expenses.

08 million yuan, an increase of 30 in ten years.

01%.

On July 23, 2018, the company’s high-end new product “New Cotton Early White” cotton soft towel was officially launched.

At the same time, the report-scale companies increased sales of key products such as noodles, emulsions, and natural wood, and formulated distribution standards for major channels in order to increase the market share of high-end markets in each channel.

Equity incentives are going to the next city, and the company is expected to become a leader in tissue paper.

Following the launch of the first round of equity incentives in 2015, the company announced the stock option and restructuring stock incentive plan again in 2018. By binding the interests of employees and the company, it will increase employee motivation, aiming to impact revenue to 90 trillion in 2021 and seize life.Paper market share.

If the company achieves 9 billion revenues in 2021, the tissue paper market share will reach 9% -10%, and it is expected to become a leader in tissue paper.

Investment suggestion: We predict that the company will realize net profit attributable to mothers in 2019-2021.

1, 6.

2, 7.

20,000 yuan, an annual increase of 25.

8%, 22.

1%, 15.

5%, the corresponding EPS is 0.
39, 0.
48, 0.

55 yuan.

Maintain “Buy” rating.

Risk Warning: Channel Expansion Is Less Than Expected, Industry Competition Intensifies Risk, Raw Material Price Rise

Wanliyang (002434): Performance-building passenger cars automatically change into the harvest period

Wanliyang (002434): Performance-building passenger cars automatically change into the harvest period

Event: The company announced its 2019 Interim Report: 2019H1 to achieve 北京SPA会所 operating income of 20.

800 million, down 3 every year.

6%; net profit attributable to mother 2.

300 million, down 16 a year.

9%; deduct non-net profit 1.

3 ‰, a decline of 46 per year.

6%; performance is below our expectations.

  Q2 net profit margin was 21.

6%, waiting for stabilization and pick-up The company’s 2019H1 revenue and performance averages have fallen, and the essence is: 1) Domestic car sales have fallen in the first half of the year.

4%, affected by the downturn in the industry, the transitional income of China-California declines by 24 per year.

2%, revenue from the automotive interior business dropped 37% year-on-year.

0%, passenger car transition benefits from supporting mass production revenue growth of 7 per year.

2%.

2) The company increased investment in research and development, increased new capacity investment and construction, and increased operating capital requirements resulting in increased financial costs and other costs, which significantly replaced the company’s net profit.

3) 2019H1 Jinxing interior may be 3566.

A drag of RMB 70,000; 4) Non-recurring gains and losses for H1 2019 are mainly government subsidies received1.

10,000 yuan, net profit after deductions increased significantly.

In a single quarter, 2019Q2 achieved revenue 11.

200 million, down 2 a year.

2%; net profit attributable to mother 1.

200 million, down 21 a year.

6%.

In general, the downward trend of the industry in the first half of the year was difficult to resist, and the company’s major supporting customers had poor sales. The company’s performance was unavoidable under pressure, but it was still lower than expected.

  The gross profit margin has increased, and the ability to control fees weakens the company’s gross profit margin in 2019H126.

0%, a decrease of 0 per year.

6pct, of which: the gross profit margin of passenger cars is 25.

1% (-0.

4pct); gross margin of interior parts 12.

1% (-0.

4pct); light truck transition gross margin 28.

7% (-1.

2 pct); the gross profit margin of the transition card is 30.

5% (-0.

2pct).

The company’s 2019H1 net margin is 11.

0%, down by 1 every year.

9 points.

In a single quarter, the company’s gross profit margin in Q2 2019 was 24.5% (-1.

1pc), net interest rate is 10.

3% (-2.

8pct), 2019Q2 three rates 17.

1% (+3.

2pc), where the selling expense ratio is 3.

5% (+1.

2pct), the management expense rate is 10.

2% (+0.

8pct), financial expense ratio 3.

4% (+1.

3pct), the company’s ability to control costs has weakened.

We believe that the transformation of the industry is picking up, and it automatically changes the amount of supporting high-quality customers such as Geely, and the company’s profitability promotes a stable recovery.

  Beneficiary China VI accelerates customer expansion, supporting Geely to open up growth opportunities. The company replaces China VI upgrade market opportunities, and continuously accelerates product technology upgrades and market customer expansion. Since June 2019, the company’s CVT18 and CVT25 are equipped with Geely’s vision X3 and vision.The national six molding of S1 has been put into mass production.

Since then, the company’s CVT products have been equipped with Geely’s Vision series, Emgrand GS, Emgrand GL and Chery’s Arize GX, and other national six models have noticed mass production.

We believe that the company is currently in the early stage of supporting Geely. Through the supporting Geely going deep, the independent leader Geely, whose production and sales scale has reached 1.5 million, has promoted the opening of new growth space for the company.

  Earnings forecast and investment recommendations predict that the company’s EPS for 2019-2021 will be 0.

34 yuan, 0.

41 yuan, 0.

49 yuan, the corresponding PE is 18 respectively.

1 times, 14.

8 times, 12.

4x, maintain the company’s “Buy” rating.

  Risk warning: The automotive industry is weaker than expected; the company’s products and customer expansion are worse than expected.

Northeast Securities (000686) 2018 Annual Report and 2019 First Quarterly Report Comment: Self-driven profit conversion has low valuation and high elasticity

Northeast Securities (000686) 2018 Annual Report and 2019 First Quarterly Report Comment: Self-driven profit conversion has low valuation and high elasticity

Event: In 2018, the company achieved operating income of 67.

800 million (YoY + 38%), net profit attributable to mother 3.

0 billion (YoY-57%); the company achieved operating income in the first quarter of 201922.

800 million (杭州夜网论坛 YoY + 141%), net profit attributable to mother 5.

700 million (YoY + 307%).

The reason for the rapid divergence of the company’s revenue and profit growth in 2018 was that the spot trading business income of futures subsidiaries with low profit margins increased significantly.

We believe that the company’s investment highlights are: (1) the self-operated business has driven the performance to rebound rapidly, the company’s self-operated revenue growth in 2019Q1 increased by 370%, and the flexibility advantage is obvious; (2) the current valuation at the end of 2018 is as low as 1.

3xPB is still attractive.

Self-employment: Expand the scale of self-employment and grasp the stock market.

The company’s self-operated income in 2018 was 15.

700 million (YoY + 5%), performing better than the industry (-35%), mainly due to the strengthening of fixed income investment to grasp the trend of bond market in 2018, the company’s self-operated fixed income assets / net capital rose by 83% at the end of 2018To 90%, the total annualized return on investment reached 6.

2%.

While strengthening solid income investment, the company increased its stock holdings at the bottom of the market in the second half of 2018, and equity assets / net capital rose from 23% in 2018H to 25 at the end of the year.

2%, grasped the rise of the stock market in 2019Q1.

2019Q1 company self-operated income10.

6 trillion, accounting for 70% of the company’s revenue (excluding other income), alternating and sequential growth of 370% and 38%, of which net income from changes in fair value increased significantly by 953%.

We believe that the company’s self-employed influence on performance has stronger performance flexibility than its peers in the stock market rebound cycle.

Brokers: Maintaining regional advantages and increasing performance.

In 2018, the company’s brokerage business income reached 6.

8 ‰, a year-on-year decline of 10%, but in the context of the market downturn, the decline in the industry level.

In Q1 2019, the company’s single-quarter brokerage business income reached 2.

3.4 billion, an increase of 67% from the fourth quarter, and an annual increase of 28%.

The company takes Jilin Province as the center and forms a regional advantage in the Northeast. Until the end of 2018, the company’s operating outlets in Jilin Province accounted for over 30%.

In 2018, the country’s stock-based trading volume market share restructuring 0.

8%, a slight decrease before 2017.

Credit transactions: The two financial markets gradually recovered, and asset impairment expectations were reversed.

The company’s 2019Q1 interest rate net income was -0.

400 million US dollars, a year ago from surplus to loss, in fact, the contraction of the stock pledged repo business and the expansion of the two integrations led to a reduction in credit business income and income, while the bond repurchase business income expenses increased.

Marginally, reducing the continuous recovery of the two financial services will bring incremental performance, although although the company’s asset impairment losses will reach 6 in 2018.

800 million (YoY + 195%), dragging down overall performance, but the conversion market is picking up, and the company’s partial impairment is expected to be washed back.

Investment bank: Investment bank looks forward to marginal improvement.

Revenue of the company’s investment banking business in 20182.

300 million, a year-on-year decrease of 29% (industry-27%).

In the first quarter of 2019, the company did not implement the equity underwriting business, which caused the investment bank income to continue to decline by 29% (industry + 8%). According to WIND statistics, the company has pre-released 9 update projects as of May 9, and the equity financing business remainsThere is room for improvement.
With the overall scale of bond underwriting expanding, the company’s bond underwriting scale in the first quarter of 2019 increased by 77% from the previous quarter, and investment bank revenue is expected to usher in marginal improvement.

Asset management: The scale of the entrusted assets continued to decline, and the pressure of transformation was prominent.

Net asset management income of the company in 20181.

700 million (YoY-19%), lower than the industry level (-4%).2019Q1 Net income of asset management is 0.

2.4 billion (YoY-40%), far below the industry level (-8%).

The sluggish asset management performance of the company in 2018 was mainly due to the sharp decline in asset management scale (YoY-44%) and reduction in management fees caused by the tightening of industry supervision.

The new rules of asset management forced the brokers to reduce channel business, and in the context of transition to active management, the company ‘s asset management subsidiary, TOP Securities Ronghui, actively scaled up its management year by year, and newly issued 17 杭州桑拿网collective asset management plans.

It is expected that the company’s active management scale will continue to expand and accelerate the transformation of asset management business.

Investment advice: Buy-A investment rating.

The company’s EPS for 2019-2021 is expected to be 0.

67 yuan / 0.

75 yuan / 0.

78 yuan to the company 1.

4xPB estimate, corresponding to a target price of 10.

96 yuan.

Risk reminder: investment risk / significant contraction risk / policy risk

Charm Raiders OL discharge winks 15 strokes _1

Charm Raiders 15 tricks of OL discharge winks

Are you still frustrated with skin problems in your eyes?

  I can’t hide my dark circles, and the fine lines on the corners of my eyes keep deepening at the same time. I never dare to look at others for more than two seconds. I always feel guilty and I will find the secret of my eyes . the most attractive “weapon”Sadly lost its effect.

If you want to solve the problem, you must first find out the reason, and then you can cure your glamorous eyes with the right medicine!

  The eyes play an absolutely critical role in your personal charm. Imperfections in the skin on the eyes, or premature aging, are a major concern for every woman.

Here are 4 kinds of eye problems that often occur. Look at yourself in the mirror and replace the eye cream that suits you.

  1. Fine lines ripple when you smile. Fine lines on the eyes are a problem everyone encounters, because the thickness of the skin on the eyes is only 0.

05mm is the most delicate and fragile part of the facial skin structure. It is easy to produce fine lines due to the movement of the eyeball or blinking, pulling on the skin with various expressions.

Coupled with the lack of sebaceous gland moisturization and sebum film barrier, it is particularly prone to dehydration, so it is more fragile than normal skin and is more prone to aging.

  ?

Solution The appearance of small fine lines must not be left unattended. The result of leaving it alone can only be fake-the small fine lines become crow’s feet that can never be removed!

In fact, as long as you choose the right product to give sufficient moisture and care to dry skin, fine lines will definitely be eliminated afterwards.

  ?

Recommended 4 strokes Lancome’s regenerating youth eye cream: it smooths the skin around the eyes when fine lines first appear.

Nanocapsules with obvious vitamin E can effectively alleviate the initial phenomenon of skin fine lines and expression lines around the eyes, which can cause the skin around the eyes to exhibit natural luster, glow young and glow, and make the eyes look bright.

  Meiyin Domusi Eye Care Gel: Soft and safe super beauty liquid for the eyes, which gives the skin vitality. The yellow essence particles will quickly bind to the skin during use, effectively preventing eye skin fatigue.Improves wrinkles in the eyes and contains highly effective moisturizing ingredients to effectively prevent the first generation of wrinkles on the skin.

Makes eye skin firm and elastic.

  DIOR Dior Revitalizing Eye Serum: Contains Dior Patented Technology Company: pure microprotein, lipid vesicles.

The fresh and moisturizing glue texture can smooth, activate, repair the skin around the eyes, and instantly restore bright eyes.

  Elizabeth Arden’s New Generation Time and Space Eye Capsule: Contains original molecular components, and has the dual effects of eye essence and eye cream.

After using, you will see the effect of firming and firming the eye skin the next morning; if you use it for a long time, the fine lines and dark circles will be significantly improved.

  2. The lumps of the eyelids that stay up all night or you used to work all night long. Excessive fatigue will affect the speed of metabolism, slow down blood circulation and cause retention, especially the eye skin covered with delicate microvessels.Swollen.

If you drink a few more glasses of water or cry a lot before going to bed, your eyes will become more swollen.

  ?

Solution Puffiness is the shortest eye problem, and the key to solving it is to promote the circulation metabolism of the microvessels around the eye.

  ?

Recommended 4 strokes DIOR fiber tightening eye cream: it has a good lifting effect, can eliminate edema, replace eye bags, make the eye skin firmer and more energetic.

  sisley Anti-Wrinkle Revitalizing Eye and Lip Cream: Effectively relieves, fights against sagging skin, and instantly shows firming effect.

Strengthens skin resistance and repairs damaged cells.

Anti-dark circles, puffiness phenomenon is very effective, restore the eye vitality.

Soothes eye pressure, fights external pollution, and appears bright.

  Guerlain Essence Eye Cream: It can effectively eliminate eye wrinkles, lasting moisture, improve skin texture, provide double protection; resist the early aging phenomenon of free radicals, and effectively filter the sun.

  Shuizhi O Eye Repair Serum: Helps eliminate eye problems such as bags under the eyes, and has a protective cover effect, making eye makeup easier and easier.

  3, there are several reasons to eliminate the formation of dark circles under the eyes of pandas: poor blood circulation due to fatigue, pigmentation or skeleton structure will cause the formation of dark circles.

Microvascular congestion will cause slight acute dark circles, if left unattended, it will cause hemoglobin deposition that is difficult to remove, and will become a consequence of chronic dark circles and long-term edema.

Melanin deposits are caused by sunlight, aging or inflammation.

  ?

The solution to the acute dark circles, you can use hot and cold compress alternately to soothe the eye skin.

For dark circles caused by melanin precipitation, it is recommended to use eye protection products with whitening effect.   ?

Recommended 3 tips Vichy Dual Vitamin Glow Eye Cream: A precise dose of pure vitamin A combined with pure vitamin C has dual effects.

Prevents and reduces dark circles and wrinkles.

Formulated for delicate eye skin, the texture is soft, fragrance-free, hypoallergenic and non-irritating.

After use, the skin on the eyes is obviously moisturized and exceeds the gloss.

After reducing the use, wrinkles on the eyes are significantly reduced, dark circles are improved, and the skin becomes smooth.

  Biotherm Soothing Eye Cream: Creamy gel, extremely fresh and silky.

The fine small particles can quickly penetrate into the skin, soothing effect, obviously relieve the deterioration of fatigue, and immediately cover the dark circles and puffiness.

Gives immediate soothing sensation around the eyes

  Givenchy Green Tea Eye Cream: Seaweed extract can promote skin blood circulation and normal metabolism, preventing dark circles.

Effectively eliminate skin puffiness around the eyes and eliminate bags under the eyes.

Moisturizes, calms skin around eyes, makes skin lighter and prevents skin aging.

A gel-like cream that absorbs easily and feels extremely refreshing and soft.

  4, anti-spot sun protection Excessive sun exposure will leave deep or light stains on the face.

In fact, the delicate eye skin is more susceptible to UV rays.

Observe carefully if there are small brown spots around your eyes, then you should step up prevention.

  ?

Solution Sun protection for the eyes is as important as sun protection for the skin on other parts, but the product must be selected to avoid thick and greasy, in order to prevent pores from rupturing or irritating the eyes.

It is recommended to use the functions of eye products which have the functions of promoting metabolism and reducing whitening.

  ?

Recommended 4 strokes Estee Lauder Extra-Cream Whitening Eye Cream: Cool, moisturizing, silky eye cream helps reduce the formation of dark circles and make the skin around the eyes glow; with SPF15’s sun protection factor, it protects the skin from UVA and UVBViolations.
Gently apply on the eyes every morning and evening.

  Helena Vitamin A Skin Repair System Eye Cream: Vitamin A has a unique effect on wrinkled, dull skin and pigmented skin. It can completely renew the skin and effectively repair it.

After use, wrinkles and fine lines fade, eyelid skin is smoother, and damage caused by sun exposure (pigmentation, small flaws on the surface, etc.) will also be improved.

  YSL Extended Youth Eye Cream: Designed for fragile eye skin.

Effectively replenishes moisture, removes fine wrinkles, and is used once a day, the effective ingredient efficiency can last for 24 hours.

Fragrance-free and skin irritating preservatives, highly resistant, suitable for all skin types, including the most sensitive ones.

  Lancome Moisturizing Soothing Eye Cream: The principle of action is based on the effectiveness of the soothing cream, which effectively prevents too many stress information molecules from binding to the cell, thereby suppressing the secretion of cytotoxins, while restoring the normal immune function of immune cells, enhancing skin’s self-protection ability andThe adaptability of the environment makes the skin regain a comfortable and soft natural feeling.

  Concluding remarks: The skin on the eyes is much more delicate than the skin on other parts, and we are committed to the care of the skin on the eyes. It only takes 15 strokes, so that you can take care of the “enchanting” eyes with full power!

Ten Anti-Aging Healthy Fruits

Ten Anti-Aging Healthy Fruits

Skin Wrinkle Prevention-Mangoes are prone to wrinkles if the skin has insufficient protein in the skin.

Mango is the best fruit for preventing wrinkles, because it is rich in β-carotene and unique enzymes, which can stimulate skin cell vitality, promote metabolic transfer, maintain collagen elasticity, and effectively delay the appearance of wrinkles.

  Hair Dye Perm-Avocado Dye Perm will take away moisture and oil from your hair and make your hair dry.

Mature avocado contains 30% of precious vegetable oil-oleic acid, which has special effects on dry hair.

  Brain Excessive Use of Brain-Banana excessive use of the brain results in a lack of vitamins, minerals, and metastasis in the body. In addition to tiredness in the brain, it often feels depressed.

Supplementing bananas at this time can provide the necessary nutrients and relieve negative emotions.

As multiple brains consume multiple vitamins, nutritionists recommend supplementing multivitamin tablets such as Zancun at the same time.

  Excessive use of eyes-Papaya should pay attention to the computer screen or TV screen for a long time. Excessive use of the eyes will consume a large amount of vitamin A, which is a key substance required for retinal photosensitivity. The eyes feel dry, painful, afraid of light, and even vision loss.

At this point, you need to eat papaya that can provide a lot of vitamin A.

  Foot and athlete’s foot damage-People who lack vitamin B1 in oranges are prone to beriberi invasion.

In this case, the best choice is orange, which adds vitamin B1 and helps glucose metabolism, which can effectively prevent and treat beriberi.

  Gum bleeding gums-Kiwi gum health is closely related to vitamin C.

People who lack vitamin C become fragile gums, often bleed, swell, and even cause their teeth to loosen.

Kiwifruit has the most vitamin C content in fruits and is therefore the most beneficial fruit for gum health.

  Cardiac heart disease history-Grapefruit diabetes is too high to seriously affect cardiovascular health, especially those with cardiovascular history, we must pay attention to controlling cardiovascular indicators in the body.

Grapefruit is recognized by the medical profession as the fruit with the best therapeutic effect. The natural pectin contained in its valve can reduce cholesterol in the body and prevent various cardiovascular diseases.

  Long-term lung smoking-Long-term smoking in the lungs accumulates large amounts of toxins and impairs function.

The active ingredients contained in grapes can increase cell metabolism and help detoxify lung cells.

In addition, grapes also have expectorant effects, and can alleviate the symptoms of respiratory tract inflammation, itching and other discomfort caused by smoking.

  Muscle muscle strain-After the pineapple muscle strain, the tissue becomes inflamed, the blood circulation is not smooth, and the injured area is red and hot.

The pineapple protease contained in pineapple has anti-inflammatory effect, can promote tissue repair, can speed up metabolism, improve blood circulation, and quickly swell, which is the most needed fruit of the body at this time.

  Insufficient blood oxygenation-Cherries are prone to fatigue in most cases related to reduced iron content in the blood, insufficient oxygen supply and poor blood circulation.

Eating cherries can supplement iron, which is rich in vitamin C. It can also promote iron absorption by the body, prevent iron loss, improve blood circulation, and help fight fatigue.

The efficacy and role of Dong jujube

The efficacy and role of Dong jujube

Everyone must have heard of Dongzao. Do n’t you be familiar with Dongzao? So do you know the efficacy and role of Dongzao, what is the nutritional value of Dongzao, and how to eat Dongzao?Let’s take a look at it together.

… Effects and effects of winter jujube Winter jujube is actually a new variety cultivated mainly in Shandong Province. It is a jujube tree without spines, and its variety is also recognized as a good jujube.

The average fruit weight is 17.

5g, the maximum single fruit weight can reach 25g, the shape is like an apple, known as “small apple”.

The peel is red and bright, the skin is thin and crispy, sweet and fragrant, rich in nutrition, and the edible rate is 95%.

   After scientific analysis, Dongzao contains 19 kinds of essential amino acids such as aspartic acid and threonine, which are classified with other fruits. The content of vitamin C is 70 times that of apples and 140 times that of pears. The nutritional value is “the crown of 100 fruits””, Known as” Hundred Fruit King “,” Living Vitamin Pills “.

Dong jujube is also rich in trace elements and minerals, which can help us prevent cancer and cardiovascular and cerebrovascular diseases. The nutritional value of Dong jujube is recognized to be high.

  Dong jujube (also known as Yanlaihong, apple jujube, rock sugar jujube, yellow jujube winter jujube, temple winter jujube, Zhanhua winter jujube) is a high-quality late-maturing fresh food species in northern Shandong.

Dongzao belongs to the family Rhamnaceae and Ziziphus.

It is an excellent late-cooked fresh variety of thornless jujube tree.

Distributed in Shanxi, Hebei, Shandong and other places.

The biggest feature of Dongzao is its extremely high vitamin C content. The vitamin C content per 100 grams of pulp is as high as 380?
600 mg (vitamin C supplements generally provide 60 mg of vitamin C), which is 70 times that of apples and 16 times that of citrus, and even hawthorn, which was previously considered to be vitamin C, is out of favor.

  The nutrient elements contained in Dongzao Jujube have a delicious taste, crispy skin, tender meat, juicy and slag-free, sweet and fragrant, and extremely rich in nutrition.

  Dongzao has a sugar content of 20% to 36%. In addition, it contains 19 amino acids required by the human body, such as aspartic acid, threonine, and serine, as well as other rich trace elements.

  Dongzao fruit also contains vitamin A, vitamin E, potassium, sodium, iron, copper and other trace elements. It has the function of keeping capillaries open and preventing the embrittlement of blood vessels. It is effective for hypertension and atherosclerosis.Anti-cancer effect.

The nutritional value is the crown of the hundred fruits, known as the “king of the hundred fruits”.

  What are the benefits of winter jujube? 1 Cardiovascular disease Winter jujube is rich in vitamin C and vitamin P. It contains a large amount of vitamin A, vitamin E and many trace elements such as potassium, sodium, iron, copper, etc., for healthy capillaries and blood vessels.Wall elasticity, anti-atherosclerosis is very beneficial.

Dong jujube also contains rutin, which is an effective drug for treating hypertension.

Therefore, Dongzao is very helpful for complications such as coronary heart disease, hypertension, and atherosclerosis.

  2 Regulating immunity Cyclic adenosine monophosphate caused by winter jujube is an important physiologically active substance that participates in a variety of physiological activities in the human body. It can regulate the immune system, enhance cardiac contractility, protect coronary arteries, reduce plasma, and inhibit plasma proliferation.effect.

  3 Detoxification and liver-protection Dongzao Jujube is rich in sugars, vitamin C, and cyclic adenosine monophosphate. It can replace various chemical drugs to damage the liver, and can promote insulin synthesis, increase serum albumin content, and adjust albumin and globulin.Protein ratio, reducing serum alanine aminotransferase levels and other effects.

Clinically, jujube can be used as an adjuvant treatment for chronic hepatitis and early liver cirrhosis.

  4 Fructose and vitamin C are the secret to winter hangovers. Since ancient times, fructose and vitamin C have been used as hangovers, and the astringent ingredients in winter dates can break down alcohol.Helps people clear their headaches and wake up from alcohol.

  After reading the detailed introduction on the nutritional value of Dongzao, I believe everyone already knows and understands such fruits as Dongzao.

Dongzao can not only weave cardiovascular disease, but also clear liver and detoxify.

If you have a hangover problem, when you wake up the next day and have a headache, eat some winter jujubes, as well as sober up and hangover. It is good for everyone to buy some winter jujubes and eat them at home.

Recommended: for different obesity type slimming tea

Recommended: for different obesity type slimming tea

12 kinds of slimming tea, for dieters, physique edema, love meat, hope to scrape oil and fat, constipation and other different weight loss situations, so that you can easily drink your aunt.

  1.

Dieters recommend drinking oolong tea because of dieting to lose weight, eat less, food residue is not enough, sometimes accumulated only a few days, it is easy to dry.

Recommended oolong tea.

  Ingredients: Oolong tea practice: simply rinse with boiling water.

  Efficacy: help digestion, go sputum, hangover food greasy poison, cellulite.

  2.

There are many reasons for edema people to drink phloem tea. If it is a simple edema caused by water retention, it is recommended to replace 薏仁茶.

  Ingredients: 10 grams of fried coix seed, 5 grams of fresh lotus leaf, 5 grams of hawthorn.

  Practice: boil in hot water, you can join.

  Efficacy: heat, dampness, treatment of edema.

  3.

Stress causes constipation to drink lotus leaf tea is low, mental stress, may lead to increased sensitivity in tandem, and constipation interference.

Recommended to add lotus leaf tea.

(Slimming tea) raw materials: 3 grams of lotus leaves, 6 grams of fried cassia, 3 roses.

  Practice: brew with boiling water.

  Efficacy: clearing the heat and dampness, curing water and edema, smooth hair.

  4.

Dieting constipation Drinking Cassia tea Intestinal peristalsis is slow, and people (especially obese dieters during dieting and weight loss) tend to accumulate in the body, causing constipation.

It is recommended to announce Cassia tea.

  Ingredients: Cassia tea practice: hot water brewing.

  Efficacy: clearing the liver and eyesight, benefiting water and laxative.

  5.

Inflated people drink barley malt tea body exhaustion, can also cause abdominal distension and bloating, recommended for barley malt tea.

  Ingredients: 5 grams of fried malt, 5 points of hawthorn.

  Practice: add sugar sugar water to brew.

  Efficacy: appetizing and spleen, and in the middle of the gas, digestion and swelling.

  6.

Cellulite and lemon tea can both eliminate fat, greasy, and whiten skin.

  Ingredients: Lemon slices.

  Practice: squeeze out the lemon juice, mix with warm water, add the right amount of honey.

  Efficacy: smile, help digestion, whiten skin, nourish the lungs.

  7.

The accumulation of food and drinking Pu’er tea in the stomach does not dissolve, not only affects the gastrointestinal function, but also a small amount, the sugar is not consumed by normal consumption and fat.

Recommended Pu’er tea.

  Ingredients: Pu’er tea, 5 dried chrysanthemums.

  Practice: hot water brewing.
  Efficacy: help digestion, eliminate grease.  8.

Protecting the stomach and drinking rose tea with multi-functional roses, you can brew tea and dip.

Drinking more can protect the stomach.

  Ingredients: 5 grams of rose.

  Practice: warm water to brew.

  Efficacy: blood stasis, treatment of liver and stomach pain.

  9.

Clear fire detox chrysanthemum tea to clear fire, the most convenient drink to lose weight.

  Ingredients: a few dried chrysanthemums.

  Practice: brew directly with hot water.

  Efficacy: clearing heat and detoxification, quenching thirst, lowering blood pressure.

  10.

Greasy drink Chenchao tea If you accidentally eat too much greasy, it doesn’t matter, soak a pot of tangerine peel tea and go to greasy.

  Ingredients: 4 grams of dried tangerine peel.

  Practice: boiling water.

  Efficacy: qi and qi, sore liver and spleen, lead stagnation and elimination.

  11.

Carnivores drink hawthorn tea Hawthorn tea is more suitable for obesity that likes to eat meat.

  Ingredients: 10 grams of hawthorn.

  Practice: decoction with water.

  Efficacy: It can eliminate oil, help to excrete waste in the body, and dissipate silt.

  12.

Diuretic lipid-lowering root tea is definitely a good weight loss drink.

Cook a cup after a meal, not only to achieve the purpose of weight loss, but also enjoy the sweet and sour taste.

  Ingredients: 10 grams of hawthorn, 10 grams of chives, 10 grams of corn, 10 grams of tea roots, sugar content.

  Practice: The above flavors are ground into coarse powder, and the soup is fried.

  Efficacy: diuretic lipid-lowering, allowing excessive and high blood pressure.

Some foods that are most suitable for eating in a hot and humid body, as well as certain sports that are healthy and healthy.

Some foods that are most suitable for eating in a hot and humid body, as well as certain sports that are healthy and healthy.

For example, the hot flashes and sultry weather indicate that the storm is about to come. The body is intertwined with wet and hot, and the human body will encounter various unhealthy conditions.

There are various problems in the body.

The key to the health of the hot and humid body is the dampness and heat.

The diet of people with damp heat and dampness is mainly light. If we are conditioning from diet, exercise, etc., we should start from these aspects. From this point, the food will carry out this kind of exercise, and the hot and humid constitution will slowlyGet better.

Damp heat is most suitable for certain foods consumed by people with hot and humid constitutions.

1 Mung bean Mung bean Mung bean is one of the most common types of beans in our life. In the hot summer, we will eat delicious and cool mung bean soup.

Mung beans are traditional legumes for people in developing countries.

The multivitamins in the mung bean, calcium, phosphorus, iron and other minerals are more than the previous rice.

Therefore, it not only has good edible value, but also has very good medicinal value, and has a statement of “the good valley of the world”.

2 celery celery celery cool, sweet, non-toxic; into the liver, gallbladder, pericardium.

Indications for clearing away heat and calming the liver.

Indications for high blood pressure, headache, dizziness, irritability, jaundice, edema, urinary heat, women’s irregular menstruation, red and white.

Hey, hey, etc.

The celery is cool and smooth, so the spleen and stomach are cold and the intestines are not solid.

It has a large amount of colloidal calcium carbonate, which is easily absorbed by the body, can supplement the calcium required for the legs, and can prevent edema in the lower body.

3 Cucumber Cucumber Cucumber is one of the main vegetables in summer in China.

Stems and leaves cane, can reduce inflammation, phlegm and antitussive.

Cucumber can be mixed with cold dishes, can be fried hot dishes, is a common food on the table of every household, can also be used as a mask, beauty and so on.

4 藕藕藕 slightly sweet and crisp, can be eaten raw food, can be cooked, is one of the regular dishes.

It is also a plant with a high medicinal value. Its roots and flowers are all treasures, which can be nourished.

It can be used to make diarrhea, antipyretic, nourishing, and prevent internal bleeding. It is a good liquid food and nourishing Jiazhen.

It is rich in vitamin C and minerals. It has a medicinal effect, is good for the heart, has the effect of promoting metabolism and preventing rough skin.

It is most suitable for several sports modes of people with hot and humid body.

1 long run 2 swimming swim 3 climbing

Effective prevention of 4 points for cold massage

Effective prevention of 4 points for cold massage

A cold is a respiratory disease caused by a variety of viruses, and self-massage of specific acupuncture points can stimulate immune function in the body and reduce the occurrence of colds.

Under the current season of cold and flu, if you regularly massage the following 4 points, you can effectively prevent it.

  Preliminary point of the hurricane pool massage technique: the wind pool is located at the lower edge of the posterior occipital bone, a recess about two fingers wide from the back of the ear.

Hold the thumb of the wind in both hands and use your fingers to force the tens of times.

  Function: It can make the effect of clearing heat and calming the wind, especially suitable for wind and cold.

  The second step is to massage the Dazhui acupoint: the hole is in the middle of the back of the neck, and the lower edge of the extended bone is the lower edge of the spinous process of the seventh cervical vertebra.

With one hand of food, the two fingers forced through the Dazhui point, shaking 100?
200 times.

  Function: It can prevent the prevention and treatment of colds, especially suitable for treating high fever after a cold.

  The third step is to take the shoulder hole massage technique: the shoulder hole is in the middle of the neck to the shoulder, and the muscle is rich.

Both hands, the food, the middle three fingers take the opposite side of the well hole.

The thumb is in front, the food, the middle finger is in the back, and it can be taken 10 times.

  Function: It can make the effect of evacuating the wind and dispelling cold, especially suitable for cold and cold.

  The fourth step is to massage the Sanli point massage technique: the bone on the outer side of the lower leg has a bone called the humeral head. The front and lower sides of the bone are about three fingers wide.

With one hand of food, the two fingers force the same side of the Zusanli point, slowly twitching dozens of times.

Then use the other hand to click on the other side of the Zusanli.

  Function: Zusanli is a “strong acupoint”. It has the function of evacuating and dispelling cold, and strengthening the body’s immunity. It can regulate the body’s immunity and prevent colds.

  It can be done once a day than the self-massage method. When the cold is popular or when you have a cold, you can do it again. You can achieve the purpose of sensing the cold.