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Zhou Dasheng (002867): Everlasting Diamond is King

The high-growth national jewellery leader company is a first-class gold jewellery leader and the only brand in the first-line brand that focuses on insert categories.

The company’s total department stores and sales scale maintained a relatively high growth rate. Through the focus on the development of alternative categories and sufficient channel subsidization strategies, it jumped to the top three in the industry in just a few years, with an overall market share of approximately 5.

82%; diamonds reach a market share of 10.

41%, second only to Chow Tai Fook.

Benefiting from the growth of Gao Tong stores and expansion of exhibition stores, the company’s revenue / profit CAGR was 21 in 2015-2018.



The company’s ROE has exceeded 20% for eight consecutive years, showing a good rate of return.

The company’s competitive advantages are continuously strengthened, mainly including: 1) product advantages: through the serialization of alternative categories to create differences in design, distinctive features of 100-faced diamonds, cost-effective positioning; 2) brand advantages: continued expansion, stable operationThe store is the best brand promotion; 3) Management ability: refined management ability enhancement: supply chain management, flexible and flexible franchise supervision and counseling; 4) first-mover advantage: accumulated network resources, high-quality franchise resources, upstream bargainingAbility, good brand image.

We will discuss in detail the company’s management capabilities, market size, industry competition and other three issues that investors are most concerned about. Industry analysis: Diamond is king The growth of the gold and jewellery industry is rooted in consumption upgrades and young consumer groups (ie Millennials andThe category of Z; the multi-scenario consumption possibility and the increase of consumption carats will also drive the repurchase rate and the customer unit price.

Changes in consumer preferences will benefit from the inclusion of diamonds in the long run, and ownership is higher than industry growth.

Risk prompts 1) Decline in macroeconomic growth drags on breakthroughs in optional category sales, leading to a decline in same-store growth; 2) Industry leaders accelerate store expansion, channel inventory levels increase, and ultimately affect brand sales growth; 3) Non-controlling shareholders reduce their holdingsThe expected repression.

Investment suggestion: High-growth national budget jewellery leader. Maintain “Buy” rating. We use a combination of absolute and relative estimates. For prudent consideration, we believe that the company’s reasonable variable interval is 38.


46 yuan.

Corresponding to 2021PE is 14-16X.

Forecast the company’s net profit in 2019-2110.



06 ppm, the corresponding PE is estimated to be 15/13/11 times. Due to the impact of changes in the macro environment on the optional impact and reduction of liquidity discounts, the company gradually expands its scale 无锡夜网论坛 and its long-term layout appears.

Maintain BUY rating.

Common sense of health care products that the elderly must learn

Old people are the main market for merchants to sell health products, but unfortunately, the elderly do not have more understanding of health products.

Crazy health care products, but not eating health care products.

  Health products are very popular in Taiwan.

The newly released “2010 Health Food Survey” in Taiwan shows that 95% of Taiwanese have eaten health care products.

In 2008, the consumption of health food in Taiwan amounted to NT$67 billion, and it was possible to build a Taipei 101 building.

The survey found that nearly 90% of Taiwanese do not look at the place of origin and certification when purchasing health care products. Little is known about the necessary common sense of eating health care products.

  To open the bottle, throw the desiccant.

Once the health care product is opened, the desiccant and cotton that should avoid powdering of the drug and prevent moisture from entering must be replaced immediately. Otherwise, they will adsorb moisture and allow the water to remain in the canister, which will easily deteriorate the drug.

In Taiwan, more than 60% of people who did not throw desiccant after opening the bottle.

  Milk cannot be combined with antibiotics.

Antibiotics are widely used as bacterial infections such as sore throat, toothache, and inflammation of the tonsils.

When milk encounters antibiotics, calcium ions combine with some drugs to form insoluble salts, reducing the activity of antibiotics.

Prevent drinking milk before and after taking antibiotics.

At this point, more than 90% of the survey did not know.

  Ginseng and aspirin do not take.

Chinese ginseng, angelica, ginkgo and other traditional Chinese medicines are health products, and “regular customers” in supplements. However, these traditional Chinese medicines for supplementing qi and promoting blood circulation are used together with anticoagulants such as aspirin or warfarin, which may cause gastrointestinal bleeding.

Ginkgo biloba and some analgesics may also cause cerebral hemorrhage, and the combination of diuretics can lower blood pressure.

For this “incompatible” common sense between Chinese medicine and western medicine, more than 90% of the respondents are unclear.

  The high incidence of these food supplements also exists internally.

In addition, Yao Yi, director of the Pharmacy Department of Jiangsu Provincial Hospital of Traditional Chinese Medicine, also reminded that health care products should be kept in strict accordance with the requirements of temperature and humidity. The unexpired health care products can be judged by color and smell to deteriorate.

What is the old man watching TV loves to fight?

Many older people think that it doesn’t matter, love sleep is probably not sleeping well!

In fact, the elderly “autumn lack” may be the signal of many diseases!

If you don’t know it, it may get worse.

. What is the old man watching TV loves to fight?

These diseases should be kept in mind that many elderly people think that it doesn’t matter. Love is difficult to sleep.

In fact, the elderly “autumn lack” may be the signal of many diseases!
If you don’t know it, it may get worse.


Be alert to cerebral hypoxia. Some middle-aged people who are overweight and have high blood pressure, diabetes, and high blood lipids have more oxygen consumption in their brains, and their nose and throat are slightly accumulated. If you watch TV for a long time, it is prone to brain oxygen supply.insufficient.


The signal of heart disease is because the brain is the “command” of the human body, which constantly controls the activities of various organs of the human body, and the brain tissue is most sensitive to expansion and hypoxia.

Therefore, brain metabolism is greatly affected by the function of cardiac contraction.

When the middle-aged and elderly people have high blood pressure, the extra blood pumped by the heart will be reduced, and the brain will be dilated and hypoxic, which will cause mental fatigue and fall asleep.


Beware of cerebrovascular disease in the elderly, if the cerebral blood vessels of the elderly have hardened, there is insufficient blood supply to the brain, and even a thrombosis caused by cerebral infarction, it will lead to hypoxia and increased brain tissue.

Over time, affecting the normal function of the brain, there will be dozing and so on.

Such patients may have dizziness, headache, limb numbness and other combined symptoms, especially attention.


Patients with hypothyroidism are mainly caused by thyroid failure, thyroid synthesis and decreased secretion of thyroid hormone.

They may be lazy, unwilling to move, limb swelling, memory and mental decline, unresponsiveness, etc., but also cause us to realize.

  In addition, love to sleep may also be a sign of chronic diseases such as dyslipidemia, diabetes, chronic nephritis, chronic liver disease; some patients with depression can not sleep well at night, sleepy during the day, dozing off, is also a common phenomenon.

Therefore, if the middle-aged and elderly people are always in the normal sleep during the night, the phenomenon of love and sleepiness often occurs during the day. You should go to the big hospital in time to find out the cause and prevent all kinds of related diseases as soon as possible.

  Also, when the TV does not turn off, the brain can’t enter deep sleep, blood pressure and heartbeat are not stable. If you suddenly wake up with a sudden sound, it is more prone to dizziness, tinnitus and even paleness. It needs to be gradually restored.

  Therefore, to ensure adequate and effective sleep, it is best to drop the TV before going to bed to create a peaceful sleeping environment.

Taijiquan and health care

12/11/2019 | 按摩 | No Comments

Taijiquan and health care

As a sports sport, Taijiquan has the function of health care and health. Its mystery lies in the physical activity of “moving and moving”, which can stimulate the strength and quantity of various tissues and organs, stimulate and promote the body in physiology, biochemistry and morphology.A series of adaptive changes occur in the structure, which transforms and develops the body in an enhanced direction.

  Taijiquan is a unique fitness exercise developed on the basis of the traditional guidance method of “guiding” and “draining”. It is called “inducing qi, qi to body” and has an exercise method of qigong.

Thus, the formation of Taijiquan consciousness, the combination of breathing and movement, “training, practicing, and practicing” internal and external unified internal boxing movements, “starting and moving, then moving inside, then moving outside”, andForming a combination of rigidity and softness, speed and slowness, and mutual change, with the internal strength as a unique boxing method.

  The motherland medicine believes that human beings are an organic whole, with the meridians running through the upper and lower, communicating inside and outside, the internal organs are internal organs, and the external organs are in the limbs.

The unique practice of Tai Chi Chuan can help to pass through.

First of all, we know that suddenly, the strong and lasting stimulation of the seven emotions is only the distorted body and the yin and yang qi and blood disorders, while the tai chi shows the relaxation of the whole body, which can be removed, transferred and overcome the internal injury.Emotional stimulation, but is conducive to the dredge of the meridian.

In fact, Taijiquan’s systemic slow and gentle proper exercise, only the warmth of the whole body, can increase the meridian penetration speed and strength, is conducive to the pulse gas in the whole body up and down, internal and external circulation of the endless meridian system, feasible meridian smoothTo make the blood full of the body, support the organs and organs of the organs, yin and yang, maintain and protect the body’s functions, enhance the ability to resist disease and self-repair.

Thirdly, in the Tai Chi exercise, the rotation of the waist, the winding movement of the limbs, and more than 300 acupoints of the whole body produce different pulling, screwing and pressing effects.

This is actually a kind of self-massage, which can activate the meridians, stimulate the menstruation, unblock the meridians and adjust the virtual reality through the action of acupuncture, strengthen the physiological functions of maintaining and connecting various tissues and organs, thus achieving a coordinated and orderly state.

  Tai Chi Chuan is very concerned about the unity of nature and humanity, the combination of body and mind, the combination of movement and static of Tai Chi, and the quietness of the movement, to calm the movement and still move, so that Tai Chi is more in line with the moderate fitness principle;At the same time, the unique intention of Tai Chi Chuan makes the heart more easy to enter, and can effectively repeat the excessive interference and blazing seven emotions on the interference and anti-disruption effect of the blood, and guard the “Yuan Shen” to play its physiological and healthy functions normally.

  Tai Chi is a well-established and profound science that contains rich and unique methods of practice.

Taijiquan not only inherits the ancient Chinese traditional health regime, but also develops on the basis of modern science, which translates into the health care effect obtained in fitness, treatment and anti-aging. It has special medicines that are beyond the reach of drugs.efficacy.

This special effect is not easy to achieve, you must do the following aspects in the practice: First, to do the action specification, that is, the body posture should meet certain sports standards, this is also the various moves, no matter how the action is ever-changing,Action requirements to follow together.

Only the norms of body posture and movement are conducive to “intentional movement”; it is beneficial to the limbs to lengthen, more flexible to show the characteristics of correctness, looseness, roundness and lightness, which is conducive to “to calm the movement” and “movingIn the middle of seeking peace and “spirit within the spirit”, so that the practice of boxing appears only the mind and movement of the virtual realm, so that the exercise into a higher level, from the inside out, and can be extricatedInternally, the internal diplomatic training is carried out in perfection to achieve the integration of mind and body.

To achieve the standard of action, first of all, to the nature and relaxation of the body, while the spirit should also be relaxed, “God sparse” can be “physical.”

  Tai Chi exercise uses abdominal breathing method, which requires deep, uniform, thin, slow, and long, but the first-time practitioners should not deliberately pursue these, as long as the smooth natural breathing is enough.

Abdominal breathing is also the only way to achieve abdominal respiration. Abdominal reverse breathing will expand the transformation of the skeletal nervous system to the breathing, which will have a better impact on the autonomic nervous system to regulate visceral function.

However, the beginners can not blindly adopt this breathing method, otherwise they will not only care about this loss, but also affect the exercise and even the phenomenon of suffocation.

In fact, as long as the skill of the action is taken, the abdominal breathing is more and more harmonious, and the abdominal breathing is only a matter of ripening.

Taijiquan philosophy is natural and cannot be violated.

Therefore, the pre-established routine breathing should be smooth and the principle should not be eager to achieve.

  Taijiquan’s good health care function can only be exerted after long-term exercise. First of all, Taijiquan, like other sports, the appearance of exercise effect is a cumulative process, with the law that the body does not practice and then retreat.

In addition, the rehabilitation of the body and the improvement of physical fitness are a slow process. As the saying goes, “It is a disease, such as a mountain, and it is like a silkworm.” This is the truth.

Tai Chi has the effect of fitness therapy, but it does not have the effect of “immediately seeing the shadow”.

  Secondly, the effect of Taijiquan health care is the result of comprehensive training of “training, practicing, and practicing”. It is a long-term process that can master the true meaning of Taijiquan. “Winter practice is three or nine, summer practice is three”It reflects the uninterrupted nature of practicing boxing.

  Third, practice has proved that the acquisition of Taijiquan health care efficacy is expensive.

Everyone who is determined to practice Taijiquan for health care should learn from him.

  The so-called “achievement of success” is a process of overcoming self and a process of developing interest in tai chi.

Through this transformation, a sense of fullness of physical health, a sense of pleasure, a sense of well-being will arise spontaneously, and the improvement of work and quality of life will come from time to time, the enjoyment of life will be enjoyed, the fitness of Tai Chi, the treatment of illnessAnd the three major effects of anti-aging will have a deeper understanding and feeling.

Conversely, it will strengthen the confidence and interest in practicing boxing, and eventually Taijiquan will become a good teacher and friend in the way to the health of the practitioner.

The Spring Festival travels crowded and noisy, be careful to expand the journey mental illness

Last week, a male passenger was stunned by the journey, and after a few moments in the square in front of the ticket office of the Guangzhou Railway Station, he suddenly climbed a seven-eight-meter-high bulletin board, screaming and dancing, and wanted to jump down.

Experts said that this person is suspected of a journey syndrome, specifically a journey mental illness.

  Spring Festival enters the peak of human traffic, dirty air, crowds, noisy voices can easily cause travel psychosis.

Although most people will only have temporary short-lived emotions, the mentally ill patients are only a few, but once they are attacked, they may be illusory, delusional, and may be murderous or suicide by car, which may affect the safety of other passengers and require vigilance.

  Character introverted is a susceptible group. Journey of the journey. As the name implies, it refers to acute, transient psychotic disorders that occur during or after long-term travel.

Before the Spring Festival, the national climate is changeable. From Guangdong to other places, there may be crack temperature difference, plus the peak of the Spring Festival, especially trains and buses, which are prone to the occurrence and recurrence of mental illness.

  According to experts from the hospital psychology department, patients who have mental problems during the journey usually have two kinds of situations: one is a mental illness based on the basic disease, which refers to mental illnesses such as schizophrenia and bipolar disorder.In the middle and the middle, it is caused by the surrounding environment, the bad stimulation of people and things, and it causes the disease; the other is that I am not suffering from mental illness, but the mental disorder occurs in the travel environment when the time occurs, resulting in travel psychosis.

Experts said that of course, although this type of patient is not sick, there is still a hidden danger in his mental state.

Studies have shown that such patients have introverted or paranoid personality, expressed as silence, solitude, pessimism, hostility to others, etc., have a certain psychological quality.

  The mixed environment is an important cause of travel mental illness. The reason is that experts have analyzed that excessive fatigue, overcrowding, noisy environment, turbid air, and obstruction during travel may be the incentives.

Specifically, there are often obvious mental stresses before the onset, excessive fatigue of the trunk, overcrowding and noisy, chronic hypoxia, lack of sleep, and lack of nutrition, leading to the adaptation of some people’s mental and physical functions to environmental changes.Decreased ability, acute mental disorder with mental breakdown and loss of response.

  The population that occurs is mostly migrant workers, students, and migrant workers. The economic situation is not rich. The age of the disease is relatively light, mostly in young and middle-aged, and the general travel time is shortened.

During the peak season of the Spring Festival, especially trains, buses, cars are often crowded, even overloaded, normal life patterns are also disrupted, lack of sleep, mental fatigue, sometimes even drinking water is difficult; air mixed with human flavor, smokeFlavor, food smell, turbid and unpleasant, there are all kinds of words, the sound of the train, if you add something that is unpleasant, such as lovelorn, divorce, family disharmony, money stolen or work is not good,With the population angle, etc., the mood of anxiety is difficult to vent, and it is easy to suddenly erupt.

  In fact, in the above environment, let alone those who have basic diseases, that is, healthy people will also be disturbed.

Environmental psychologists and clinical medical scientists have done such an experiment: ask a few healthy people to go to the densely populated, very noisy streets for an hour, check that most people have elevated blood pressure, arrhythmia, etc.Many people complain of dizziness, irritability, and even nausea and vomiting.

  Symptoms of typical symptoms are plagued. Symptoms of mental illness are typical. At first, there will be distracting, suffocating, short, uncomfortable, tempering, shouting, and gradually feeling nervous, choking, fear, rapid breathing, and rapid heartbeat.The whole body is numb, etc., then there will be disturbance of consciousness, stunned, orientation, understanding and judgment are reduced. There may be some childish retreats. The most prominent manifestation is the appearance of mental symptoms. The most common ones are: victimization,If someone thinks that someone is chasing themselves, someone is going to harm themselves. In this case, the patient may counter “the person who harms himself”, such as hitting the other party, using the knife to lick each other, or “escape”, sometimes jumping, atCars running around, may also seek “help”, certain alarms, etc.; there will also be chaos, throwing things, chasing other people’s things, behavior without purpose, talking to themselves, wearing hair, gibberish, hurtingWait for yourself.

  Simple treatment can be resumed in a short period of time. Experts say that a certain number of people will only have temporary distorted emotions. Once they leave the environment, they will return home safely and will recover after a day or two.

Even if you have a mental illness on the journey, the treatment does not take too long. Generally, it will heal in a few days, and it will be completely improved in a few hours. This is related to your personal physique.

There are intramuscular injections of anti-psychotic drugs on the drug, and other antipsychotic drugs, and then supportive treatment, patients can be cured soon after the break.

After the event, the patient often cannot remember what happened, and some of them are only partially recallable.

If the body has these 5 performances, it may be the “predictive signal” of blood sugar, so you need to pay attention.

Nowadays, our living conditions are many times better than before. It is very difficult to solve the problem of food and clothing in the past. At present, Shanzhen Seafood and Big Fish have become the most basic diet for every household.

But while eating these delicious things, you should also pay attention to the harm caused by these, especially for our blood sugar.

Eating too much of these big fish and big meat will be our abnormal blood sugar, and high blood sugar will cause great waste to the patient’s life.

Causes of high blood sugar: 1.

Occasionally, high blood sugar does not cause much harm. If you eat a lot of sweets before the blood sugar test, you will naturally get high blood sugar.

So check out the high blood sugar, don’t worry too much.

After the interval, check again to see the blood sugar results.


Bad habits Many people nowadays prefer to eat some fast food for convenience, do not like vegetables and fruits, and long-term eating habits may lead to high blood sugar.


Environmental problems The negative ions in the air are natural factors that exist in the air, which can effectively reduce high blood sugar, but the environmental pollution causes the negative oxygen ion content in the air to decrease sharply, and the artificial negative oxygen ions are insufficient, which is also a cause of high blood sugar.important reason.

If the body has these 5 performances, it may be the “predictive signal” of blood sugar.

Irritable, insomnia, hyperglycemia, temperament, irritability, and irritability.

Insomnia is also more common, insomnia is more difficult to fall asleep or wake up early, sleep is not real, dreams, easy to wake up and so on.

This is mainly due to elevated blood glucose leading to cerebral cortical dysfunction and autonomic dysfunction.


The heartbeat is fast, the breathing is relieved, and the deep hyperglycemia indicator suddenly accelerates in the heartbeat. It is often necessary to take a long breath to be comfortable. If you find that your heartbeat suddenly accelerates, this is the performance of high blood sugar.


Increased urine output increases blood sugar, and the efficiency of conversion of food into sugar in the human body leads to an increase in blood sugar levels.

In order to protect itself, the body must discharge excess sugar through the urine, resulting in a significant increase in urine output.


Extremely thirsty urination can lead to dry mouth, and some people especially like to drink sugary drinks to quench their thirst, which is the most incorrect choice.


Elevated moody blood sugar can make people’s temper become inexplicable.

In fact, high blood sugar may also have depressive symptoms, some often feel very tired, desire to decline, do not like to do things, do not want to go out, just want to sleep and so on.

Daily health tips: 1.

Do not eat liquid food, liquid food is easier to digest, more and more patients often feel obese 2 .

Don’t eat too much sweets, eat more whole grains, and sometimes smash the head 3.

Don’t let the body lack water, usually drink plenty of water and add enough water.