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中华生物器材网

2018-10-11

毕竟,与其模式类似的欢聚时代(YY)、陌陌已经发布了财报,受惠于直播业务的大幅飙升,两家公司可谓是赚得盆满钵满。财报数据显示,欢聚时代2016年第四季度净营收24.84亿元,同增30.8%;净利润5.72亿元,同增59.3%。陌陌2016年第四季度净营收2.461亿美元,同增524%;净利润9150万美元,同增674%。

一向低调的老常接到任务后给领导拍了胸脯:一定在停飞前拿下加油工程试飞任务。  这一年的夏天,上级调来了轰-X飞机,老常们终于可以进入实际编队飞行了。轰-X飞机是个大块头,巨大的机体给编队飞行员很大的压力。尤其是进入模拟对接位置飞行时,试飞员真正体验了夹在大飞机胳肢窝底下飞行的感受。

如今,这场梦很少出现了,取而代之的是她讲课的场景,以及那些在课堂上的童声、注视着她的眼睛。3年前的一天晚上,郝静第一次在网上看到“女童保护”的教案。半夜三更,开着台灯一页页看下去,郝静回忆自己当时像触了电一样,手抖个不停。儿童防性侵的内容,像钢钉般一字字敲进她的脑海。

哦,顺便说一下,这对于各国机场的众多小偷来说是个好消息,因为有很多值钱的东西等着他们大显身手。  总部设在伦敦的航空战略研究所首席分析师艾哈迈德对媒体表示,此举可能导致乘客取消赴美行程,或改道欧洲进行中转。他认为,此举也无法管控来源于禁令范围国之外的航空安全隐患,近年来恐怖活动增多,如果恐怖分子从法国携带电子设备登机该如何避免?针对伊斯兰国家的电子设备禁令愚蠢而且危险,美国《福布斯》杂志22日称,制造恐怖事件的人可能不在上述8个国家,他们可能来自欧洲或者从欧洲飞往美国。9·11恐怖袭击中的一些嫌犯就是从汉堡飞往美国的。  美国的新措施将打击三大海湾航空公司,CNN称,每天将有超过50个航班受到美国禁令的影响。

Regulationwilldrawaclearlineonareastobeencouraged,forbiddenChinaplanstointroduceitsfirstregulationonmakingoutbounddirectinvestmentslaterthisyeartoclarifyanddefinetherangeofoverseasinvestments,aswellaslistingprohibitedareasandotheressentialfactors,accordingtoareportbyBeijing-basednewspapertheEconomicInformationDailyonTuesday.TheMinistryofCommerceandtheNationalDevelopmentandReformCommission,thecountry"stopeconomicwatchdogs,areleadingtheworktodrafttheregulation,thenewspaperthatisaffiliatedwithXinhuaNewsAgencyquotedaninsiderassaying.ThenewrulewillmapoutanoverallstructuregoverningoutboundinvestmentsfromtheStatelevel,combiningandmakingfurtherclarificationofcurrentrulesinareassuchasreviewprocedures,taxpoliciesandallowedamountforcapitalflows.Itwillalsodrawaclearlineontheareastobeencouragedandforbidden,accordingtothereport.TheCommerceMinistryandtheNDRCdeclinedtoconfirmthereportonTuesday.HeJingtong,abusinessprofessoratNankaiUniversityinTianjin,said:"Therulewillholdbacksomedomesticcompaniesmakingoverseasacquisitionsunderheavydebt.Theauthoritieswillelevatethereviewrequirementstoensurethatthedealsareauthentic."China"soutbounddirectinvestmentshaverocketedfasterthanthegrowthpaceofforeigndirectinvestment.China"snon-financialODIsoared44.1percentyear-on-yearto$170billionin2016,datafromtheMinistryofCommerceshowed.ZhouLiujun,director-generalofthedepartmentofoutwardinvestmentandeconomiccooperationattheministry,saidearlierinMarch:"ThegovernmentwillencourageODIactivitiesthatcanassistthedevelopmentoftheBeltandRoadInitiativeandresolvetheissueofovercapacityinglobalmarkets,aswellassupervisingandpreventingirrationalinvestments."DespiterapidODIgrowthin2016,Chinesecompaniesconfrontgrowingrisksininvestingoverseasduetofluctuationsoninternationalfinancialmarkets,economicuncertaintiesinothercountriesandrestrictionsbysomedevelopednationsoninvestmentfromChina,particularlyfromState-ownedenterprises.HeJingtongsaid:"Chinaisinurgentneedofregulationsthatcanleadtheinvestmenttrend,andthecountryneedsareformoftheinvestmentsystem,tocreatebetterconditionsandasafelegalenvironmentforChinesecompaniestoinvestabroad."LiangGuoyong,aneconomicaffairsofficialattheUNConferenceonTradeandDevelopment,said:"WithChina"scumulativeODIsoaringto$1trillionin2015,Chinaisnowanetcapitalexporterandthesecond-largestcountryinconductingODIactivities.WiththeimplementationoftheBeltandRoadInitiative,anadequateandpromptregulationisfairlynecessary."ChinamustperfectitssystemsofoperatingState-ownedbusinessesabroadtobetterevaluatetheirperformanceandholdmisbehavingstaffersaccountable,PremierLiKeqiangsaidonTuesday.Thegoalisto"ensurethesafeoperationofState-ownedassetsandthattheirvalueismaintainedorincreased",LisaidinBeijingattheStateCouncil"sannualmeetingonmaintainingcleangovernment.TheStateCouncil,China"sCabinet,holdsthemeetingeachyeartoreviewthegovernment"sworkinfightingcorruptionandothermisconductoverthepreviousyearandtooutlineprioritytasksthatwillboostself-discipline.Atthemeeting,LinotedthatasState-ownedenterprisesandcapitalgoglobal,"supervisionandmanagementmustcatchupinatimelymanner".China"scentrallyadministeredSOEsinclude9,112businessentitiesoperatinginabout185countriesandregions.TheSOEshavetotaloverseasassetsofmorethan5trillionyuan($725.6billion)and346,000employeesoperatingoverseas,XiaoYaqing,headoftheStateCouncil"sState-OwnedAssetsSupervisionandAdministrationCommission,saidearlierthismonth.WhiledeliveringtheGovernmentWorkReportattheannualplenarysessionofNationalPeople"sCongressonMarch5,Liunderlinedtheneed"topreventthelossofStateassets"andtoenableSOEstobecomeleanerandhealthierandincreasetheircorecompetitiveness.AtTuesday"smeeting,thepremierwarnedthat"theState-ownedassetsarethecommonwealthofallofChina"speople"andmustneverbecometheeasilygained,ill-gottenpossessionsofanysingleperson.LiWei,aresearcherattheNationalAcademyofDevelopmentandStrategyatRenminUniversityofChina,saidthatsomeState-ownedcompanieshaveunderestimatedtherisksofoverseasinvestment,leadingtofinancialloss.SomecasesinvolvinginvestmentoverseashaveunderscoredtheimportanceofsteppingupsupervisionoftheoperationsofChina"sState-ownedenterprises,hesaid.AlsoonTuesday,PremierLisaidthegovernmentwillspeeduptheprocessthisyearofstipulatinginlistsallofthepowersandresponsibilitiesoftheStateCouncil"sdepartments.Thesemanagementlistswillprovideageneralinventorytoregulatethegovernment"spowersandresponsibilities,Lisaid.Thegovernment"seffortsinreducingpowerswillbemaximized,Lisaid.AsChinahassetthegoalofeliminatingpovertywithinthecountryby2020,boostingtheefficiencyandthesupervisionofpovertyalleviationeffortswasraisedatTuesday"smeeting.Lisaidthefocusshouldbeondirectingthealleviationeffortsandresourcestowheretheywilldothemostgoodratherthantothosenotinactualneed.Particularly,whenofferingsubsistenceallowances,thereshouldbenocasesofprovidingfavors,courtingconnections,orinfluence-peddling,Lisaid.AnexpertexaminesthedeadwhaleataportinShanghaionMarch21,2017.[Photo/forChinaDaily]AwhalethatwasspottednearShanghaihadbeendeadformorethan10days,anditsleftpectoralfinwaspossiblycutbypeople,saidanexpertafterexaminingit.Thedeadanimalwasafinwhale,asecond-classnational-levelprotectedanimal,saidTangWenqiao,aprofessorfromShanghaiOceanUniversity,whocheckedthewhaleon-siteonTuesdaymorning.Thewhalemeasuredabout22metersandweighedabout20tons.Itsbodywaswellpreserved,exceptforitsmissingleftpectoralfin,andsomepartshadalreadydecayed.Tangsaidthatjudgingfromthewhale"swound,thefinwaspossiblycutbypeople,andthewhalediedmorethan10days.LuHaibing,ownerofafishingboat,saidhefirstsawthewhaleonMarch19,andtheleftfinwasalreadymissing.Fishermenreportedthesightingofthewhaletopoliceataround1:00pmonMarch20,andwereaskedtobringthewhalebacktoport.Policesaidtheauthoritieshaveaskedmarinebiologyexpertstoexaminethecauseofthedeath.Althoughthiswasthelargestwhale,thiswasnotthefirstsightingofawhalenearShanghai.In2002,asmallwhalewasfoundstrandedatDishuiLakearea.Butrescuersmanagedtohelpitreturntosea.In1970,awhalewasfounddeadnearLuchaoPort.Lastweek,aspermwhalebecamestrandedandlaterdiedinDayaBay,Guangdongprovince.Anautopsyshowedthatitwaspregnant,anda110-kilogrammalefetuswasfounddead."Itisthefirsttimeintheworldthatanunbornbabyhasbeenfoundinsideastrandedspermwhale,"saidTongShenhan,headoftheLandandMarineLifeResearchInstituteinXiamen,Fujianprovince,whoparticipatedintheautopsy.CHANGSHA-Theworld"slongestandhighestglassbridge,inZhangjiajie,CentralChina"sHunanprovince,isscrappingtheentrancefeeforIsraelitouristsfortherestofthisyear.Themoveistocelebratethe25thanniversaryofdiplomatictiesbetweenChinaandIsraelandtopaytributetotheskywalk"sIsraelidesignerHaimDotan.IsraelicitizenscarryingtheirpassportsareentitledtoafreetripacrosstheglassbridgelocatedinZhangjiajieGrandCanyon,aswellastootherpartsofthearea,fromMarch21toDec31.Dotan,whoalsodesignedtheIsraeliPavillionattheWorldExpoinShanghaiin2010,saidhisworkinZhangjiajiewasinspiredbyChinesephilosopherLao-tzu.OpenedinlateAugust,the430-meterlong,six-meterwidebridgeispavedwith99panesofthree-layertransparentglassandhangsbetweentwosteepcliffs300metersabovetheground.Thebridgeset10worldrecordsforitsdesignandconstruction.NEWYORK-ChineseconglomerateHNAGroupCoisleadingadealtoacquireManhattan"s245ParkAvenuefor$2.21billion,oneofthehighestpriceseverpaidforaNewYorkskyscraper,twopeoplewithknowledgeofthenegotiationssaid.HNAmaybeinvolvedwithatleastonepartneronthepurchase,saidthepeople,whoaskednottobenamed.The158,000-square-meterofficetower,withtenantsincludingJPMorganChaseCo,isbeingsoldbyBrookfieldPropertyPartnersLPandits49percentpartnerintheproperty-theNewYorkStateTeachers"RetirementSystem.Thedeal,shoulditbecompleted,wouldbringChineseownershiptotheheartofmidtownManhattan"sfinancialcore:thetowerslocatedjustnorthofGrandCentralTerminalalongParkAvenue.JPMorgan"sprincipalexecutiveofficeisat270Park,diagonallyacrossEast47thStreetfrom245Park.ClementWei,aspokesmanforHNA,didnotreplytoanemail.HNAhasmadeastringofacquisitionslately,totalingmorethan$30billionsincelastyear,accordingtodatacompiledbyBloomberg.ItstargetshaveincludedhoteloperatorHiltonWorldwideHoldingsInc,technologyfirmIngramMicroInc,assetmanagerSkyBridgeCapitalandearlierthismonththecompanythatrunsCaijingmagazine"swebsiteBLOOMBERG

  投资要点  主流房企稳健,业绩锁定度高。

截止7月13日,41家上市房企公布业绩预告,预增或略增18家,扭亏3家,合计占比51%,多于预减家数。 得益于过去两年销售持续高增长,主流房企可结算货值充足,业绩普遍高增长。 广宇发展、首开股份、中粮由于低基数或结算周期变化,预计2018H1业绩增速达492%、290%和310%。 从业绩预减或预亏公司来看,除个别由于高基数导致业绩下滑外,大多数均为转型小规模房企。

历史来看房企业绩主要在四季度结算,结算周期变化导致上半年业绩并不能代表全年业绩表现。

但截止2018Q1,主流房企预收款与2018年预计未实现营收比值大多超过100%,基本锁定全年营收增长。 同时由于2018年主要结算2016年房价上涨阶段项目,预计毛利率有望维持高位,主流房企业绩高增长确定。   销售再创新高,集中度加速提升。 销售再创新高,集中度加速提升。

2018年1-5月全国商品房销售面积亿平米,同比增长%,商品房销售额亿元,同比增长%。 分城市来看,三四线城市销售明显好于核心城市,2018年1-5月三四线同比增%,明显好于40个大中城市(-%)。

分房企来看,在调控加码及信贷收紧背景下,龙头房企凭借其融资、管控、品牌等优势,市占率持续提升。

2018上半年百强房企销售额同比增长%,招保万新销售额同比增长%、%、%和%。 TOP10市占率由2017年末的%提升至2018年5月的%。   预计2018年销售面积同比持平。 展望2018年下半年,我们判断在限价未见松动、资金成本高企背景下,一二线开发商入市意愿逐步增加,供应量上升叠加限价,核心城市成交量有望逐步回升。 相比之下,受需求透支、棚改货币化弱化、部分三四线城市纳入调控、房价快速上涨制约购买力等因素影响,预计下半年三四线需求端将逐步弱化,供应端随着房企拿地下沉、开工推盘加速有望增加,供需改善背景下预计下半年三四线将迈过景气度高点步入降温阶段。 由于大多数三四线城市调整步伐不一致,同时缺乏强力调控政策,预计下滑斜率较缓。

整体来看,预计2018年全国销售面积同比持平。

  投资建议:展望下半年,地产年初至今调整充分,当前估值及仓位均处于历史低位;龙头房企业绩及销售增长确定,当前股息率亦具有一定吸引力,维持"强于大市"评级。 在整体资金面偏紧、景气度下行的背景下,唯有融资渠道畅通、兼具资金及管控优势的优质房企方能穿越周期,脱颖而出。

建议关注以下投资主线:1)土储充足及融资占优、市占率持续提升的低估值龙头保利、万科、招商、金地等;2)布局核心城市及其周边的高成长个股新城、荣盛、阳光城等。   风险提示:1)目前按揭利率连续17个月上行,置业成本上升或带来购买力恶化风险进而影响行业销售表现;2)若销售回款亦恶化,且银行信贷依旧偏紧,不排除部分中小房企面临资金链风险;3)考虑多地实现限价政策,若限价无法突破,由于地价成本抬升,将导致板块未来利润率下滑风险。

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