Mercury Home Textiles (603365): Q3 gross margin increased sharply, operating conditions continued to improve

Mercury Home Textiles (603365): Q3 gross margin increased sharply, operating conditions continued to improve

The growth rate of Q3 gross profit margin increased, the company went online and offline in parallel, the brand continued to upgrade and optimize, the cash gradually improved, and the income gradually increased, maintaining an overweight rating.

  Key points of investment: maintaining the level of increase in holdings: the diversified layout of online channels, the optimization and optimization of offline channels, the product maintains the leading edge of the mid-range market, and at the same time further develops niche areas.

Maintain the company’s EPS for 2019-2021.



54 yuan, 深圳spa会所 target price 21.

39 yuan, maintaining the overweight level.

Gross profit margin increased, sales expense ratio increased, and net profit margin was optimized.

The company’s Q3 gross profit margin was 38.

95%, an increase of 5 over the same period last year.

79pct, mainly due to the increase in product price bands, is expected to continue to improve profitability as the proportion of high-margin products in autumn and winter increases.

Q3 company period expenses 21.

88%, up 2 every year.

68pct, mainly because the company continued to increase brand marketing expenses in the third quarter, and the sales expense ratio increased by 3.

02 points.

Taken together, the net profit margin for Q3 is 10.

78%, an annual increase of 1.

29 points.

Inventories and accounts receivables improved, and operating 北京夜网 cash flow improved.

The company’s Q1-3 inventory turnover days were 168.

98 days, a decrease of 12 from the same period last year.

In 64 days, the company’s inventory turnover improved, showing that the company’s operating conditions have been continuously optimized after upgrading online and offline.

19Q1-3 Net operating cash flow was -1.

09 billion, an improvement of 5051 over the same period last year.

530,000 yuan.

The online adjustment has achieved remarkable results, and the offline channels have been continuously upgraded.

Online, the company has reached full coverage of major e-commerce platforms, and its diversified layout has helped the company achieve long-term healthy growth.

Offline, the company opened direct-operated stores, small stores turned into large stores, and the store image was updated, which helped the company to maintain the leading brand advantage.

In terms of products, while the company has entered the subdivisions of weddings and children, it has adopted the “extremely large single product” strategy to strengthen the marketability of single products and continue to consolidate its brand advantages.

The online and offline channels go hand in hand, the brand is constantly upgraded and optimized, and the company’s revenue continues to grow.

Risk warning: Online business adjustments are less than expected, and store expansion in third and fourth tier cities is less than expected.

Sex life needs to be careful to be killed

Sex life needs to be careful to be killed

A beautiful sex life can promote the feelings of both sides, let men surpass the sense of accomplishment, women are weaker, improve their happiness, but how is the beautiful sex life positioned?

Not the more violent, the more stimulating the better, on the contrary, this still needs to be careful.

So what kind of sex life is the most appropriate?

  Sexual life also needs to be cautious. Extramarital sex is always due to mental stress, fear of other people’s discovery or emotional excitement, leading to psychological stress, mood swings, which lead to cardiovascular and cerebrovascular diseases, sudden death.

  The age difference is very different between men and women. The age difference is easy for the heart rate to rise rapidly, which leads to sympathetic excitation, vasoconstriction and blood pressure. In extreme cases, the blood vessels may even rupture, leading to sudden death.

The difference in age between the two sides, the probability of sudden death can be.

  Drugs affect some people in order to improve their sexual desire, abuse of aphrodisiac drugs, may cause excessive sexual impulses, make people excessive force during sexual intercourse, sexual movements are fierce, sudden death.

  A healthy way of sex should be that researchers have long discovered that sex itself is better, and that life expectancy is shortened, life is more healthy, and the risk of cancer is also possible.

The study also found that males with excessive sexual life are healthier and have symptoms of menopausal symptoms.

Sex is a good medicine, a good medicine for health care, regular sex, and more benefits.

The latest article in the British “Men’s Health” magazine summarizes the seven “dose” of sex and its benefits, and makes recommendations.

People under the age of 40 can then grab the appropriate frequency of sex. After 40 years of age, the frequency of sex can be halved on this basis, combined with personal physical conditions, instead of enjoying sex and sexual benefits.

  1 sex once a week: Decompression once a week, sex once to improve the release of a sufficient amount of stress-relieving oxytocin.

The University of Paisley in the UK found that oxytocin lowers blood pressure and relieves stress and tension.

Experts say that oxytocin is only released in sex, and masturbation does not receive oxytocin.

Sex 2 times a week: Heart care.

A 16-year study involving 1,000 people at the New England Institute confirmed that sex twice a week can reduce the risk of serious heart disease by 45%.

Experts say that the time of two sexes is best spread out.

  Sex 3 times a week: Enhance immunity. Wilkes University study found that having sex 2-3 times a week can best promote the body’s production of immunoglobulin A, enhance immunity, and reduce the risk of colds, flu and other diseases.30%.

  4 sexes per week: reducing the incidence of ED A new study of 1,000 Finnish men published in the American Journal of Medicine found that the proportion of men with only one passion per week is at least 4 times a week.The risk of the slightest ED (erectile dysfunction) in men is reduced by 50%.

Experts say that it is best to have sex in the morning.

The study also found that men who had no natural erection in the morning were more likely to suffer from ED.

  Sex 5 times a week: Keeping young In a new study at the University of Pittsburgh, the researchers asked participants to estimate the age of those who had sex more than 4 times a week. The results were 12 years younger than the actual age of these people because of males.Hormones naturally improve the ability of muscles to synthesize proteins.

  A beautiful sex life is carried out in a way that is most suitable for one’s body, both of them willingly and feel the comfort of the mind and body.

Everyone must remember that a reasonable sex life can improve the happiness of life.

Six tips to boost immunity

Six tips to boost immunity

Recently, “Australian ABC News Network” summarized some methods that can enhance immunity and remind everyone to pay attention.


Make more friends.

  Studies have found that people who communicate less with others at home, work, or society are more likely to get sick, worry, and live shorter lives when ranked in exchange for those social activities.

Therefore, no matter how busy you are, you must communicate with colleagues and friends in various ways and communicate diligently.


Get enough sleep.

  Insomnia-induced immunity is a major blow.

University of Chicago researchers have found that if you sleep less than 4 hours a month for a week, your ability to fight the flu will be reduced by half.

Most adults need to sleep for 7-9 hours a day.

If you get up early in the morning, your sleep quality is good enough.


Stay emotionally optimistic.

  An experiment from the University of California found that optimistic students have more helper T cells, and immune response and disease-resistant cells are more powerful than pessimistic students.

And, optimistic people can take better care of themselves.

Therefore, even if your character is difficult to change, try to see the good side of things and often share good experiences with others.

In addition, laughing often is also a good way to improve immunity.


Eliminate bad emotions in a timely manner.

  Another University of California study found that couples don’t communicate well and often laugh at, vilify, and degrade each other.They have worse immunity, higher levels of stress hormones, and have a harder time recovering from injuries than those who take a positive view of the problem.
Therefore, it is also a magic weapon to increase resistance by reasonably releasing one’s emotions and expressing one’s opinion rationally.


Go out with a pen.

  Contacting items in public places often hides health risks. Pens are a way to spread viruses. For example, in hospitals, sending and receiving express mail, pens used in hotel checkouts may contain a large number of bacteria, so carrying a pen to avoid excessive health risks.

Stay away from second-hand smoke.

  Smoking is harmful to health, and it is shrouded in second-hand smoke, which can not harm the body.

Secondhand smoke can cause high blood pressure, aggravate allergic symptoms, and even induce an acute attack.

Therefore, whether it is a friend, relative or colleague, it is best to avoid talking to them while smoking and to advise them to quit.

Six bad habits that most affect heart health

Six bad habits that most affect heart health

Many people around the world suffer from the threat of high blood pressure. If you want a healthy heart, you need to do preventive work on a daily basis.

The six lifestyles described in this article severely affect heart health and must be worked hard to correct.

  Heart disease is the number one killer of human health. In addition to congenital heart disease, a large part of heart disease is caused by bad life and diet.

Therefore, we generally need to understand that certain habits can harm the health of the heart.

  1. Hypertension weight loss Obesity weight loss will cause excessive weight loss, a large amount of protein will be consumed, muscle tissue will continue to decrease, resulting in the decline of myocardial tissue, causing mental decline.

  2. Oversatisfaction Eating and oversatisfaction causes the stomach wall to expand, leading to increased pressure in the lungs, leading to an increase in cardiac metabolism and a risk of myocardial infarction.

Therefore, you should not eat too much at each meal, about 70% to 80% full.

  3. Data on aunts refused showed that if people with heart disease refused to accept aunts, the mortality rate was about 30% higher than those who partially restricted aunt intervention.

Therefore, adults are an indispensable nutrient for life, and rejecting adults only leads to damage to the normal needs of the body.

  4. Smoking causes cancer besides nicotine in alcohol, and it is also one of the culprits of vascular sclerosis.

Drink some wine in moderation.

Drinking one or two glasses of red wine a day can soften blood vessels and have certain benefits for the heart.

If the risk of excess myocardial infarction is greatly increased.

  5, overwork to avoid excessive fatigue, the rhythm of tension and excitement should be relaxed and natural, to prevent any situation that leads to excessive stress and excitement.

Especially for patients with coronary heart disease who have military brain work, it is especially necessary to relax after a hard day’s work.

  6, too much water to drink too much boiled water at one time, to the burden on the heart.

Drinks such as tea, soup, porridge, and soft drinks will rapidly increase the intestinal volume, swell the gastrointestinal tract, raise the diaphragm, reduce the volume of the thorax, and affect the heart beat.

  Old Chinese medicine reminds that if you want a healthy heart and go beyond the threat of heart disease, you must correct the above six lifestyle habits.

Cultivate your baby’s mobility 4 steps

Cultivate your baby’s mobility 4 steps

From 6 months, the baby has a great ability: sitting, gradually, from sitting, crawling, standing, walking.

All levels of mobility are telling parents: “I’m growing up!

“In this process, parents also play an important role, let’s learn how to be the first teacher of the baby’s mobility.

Baby Action Song-Sitting (5?
8 months) Generally, a 6-month-old baby will sit. After going through various stages such as front support, side support, back support, and being able to turn after sitting straight, the baby can change angles about 8 monthsSee the world.

● 5 or 6 months: Before the baby learns to sit, he has the ability to turn over. About 5 or 6 months, the baby will turn from turning to sitting.

However, the posture is not very standard at first, often sitting accidentally and then falling down.

Parents can sit for a while if they put their baby in a sitting position with cushions on their backs, or if they use their hands to rest on the body.

● 7 months: Babies usually develop characteristics of sitting and having the ability to sit around 7 months.

And when the baby is sitting, the vision can be lying or lying down.

For babies, being able to sit is a great thing.

● 8 and 9 months: As the age of the month increases, the muscles become more and more powerful, the body control has greatly improved, and the baby’s sitting posture has become more and more stable.

Normally, when you are 8 or 9 months old, you can sit on your own without holding or holding the back of the chair.

Baby Action II-Climbing (7?
9 months) The crawling process is gradual. At the beginning, the baby usually has uncoordinated hands and feet, spinning in place or crawling back and forth; or there is a stance of forward movement, that is, the stomach is on the ground, and the hands are trying to move forwardappearance.

Only after the muscle strength of the hands and feet is sufficient and the concept of advancement is mastered, will the baby become a belly off the ground and crawl with hands and feet.

Therefore, the crawling process is gradual. Parents can cooperate with his physical development to encourage the baby to crawl more, but if the baby’s ability cannot reach or do not want to crawl, the parents should not deliberately force.

● 7 months: The baby crawls backwards, which is called “back crawling”.

● 8 months: I started crawling with the belly touching the ground. I still could n’t use my feet, and then I used both hands and feet.

● 9 months: I have been able to climb kneeling skillfully, and the crawling speed is fast.

Baby Action Trilogy-Stand (8?
(11 months) The baby’s range of motion has always been wider than before walking. When the baby is able to point, it means that the hand muscles, waist strength, and leg strength are well controlled.

At the beginning, it may seem a little shaky, and the standing time will not be too long, especially the introverted baby will worry about falling down and not dare to learn standing.

Some more active babies may soon fall in love with the first-level feeling, as long as they have the holding tools, they will immediately stand up.

This stage is a mix of sitting, crawling, and standing. The ability to stand can make the baby’s range of motion even further.

● 8 months: Babies will like to step on legs, and then want to learn to stand with the support of adults.

● 9?
10 months: The baby will work hard to make the body visible, and can stand up by holding or holding things.

● 11 months: You can do it on your own and do not need it.

Baby Action Quadripartite-Walk (11?
15 months) From basic to walking, the baby’s action has improved greatly. In addition to the requirement for leg muscles to mature, the baby must also have a good balance.

At first, the baby will first try to hold things and walk, and may only move one or two steps left and right, and then continue to try to hold the table or sofa towards a certain goal after being skilled at controlling the feet.

The pace of walking is different. Each baby has a different personality and the pace of walking is not the same. Babies who are brave enough to try and are not afraid of falling may soon take the risk of letting go, not holding things, between two items.Move, for example, from a sofa to a table three steps away.

Tips for conditioning racial unevenness_1

Tips for conditioning racial unevenness

Click on the picture to buy the spring and summer seasons. Racial inequality is a problem that many people will have. Changes in the internal and external environment of the body will cause different levels of population inequality.

Racial inequality will make the face look dirty, which also makes it difficult to apply makeup.

  All MMs want to have fair and healthy complexion, but the ideal is better, the reality is cruel, and the problem of uneven skin tone can be seen everywhere.

Is the race yellow?


Too green?

Too dark?

In fact, they all have certain reasons and rescue methods!

  Causes of yellowish complexion: Air pollution and light pollution in modern cities are becoming more and more serious, and sub-healthy lives such as high stress, irregular diets, and poor sleep quality in modern cities can easily lead to poor skin size and sub-healthy skin.

  Conditioning tips: do a good job of skin cleansing, regular deep cleaning and exfoliation.

In addition to ensuring sleep, in the diet, pay attention to supplement nutrition in a balanced manner. More supplements can make the skin white and tender, and reduce the amount of carotene that can make the skin yellow.

  Causes of racial redness: Most of the causes of skin redness are sensitivity, which is one of the important manifestations of sensitive muscles.

Once sensitive, there are sometimes stinging and burning sensations.

This kind of irritation is usually caused by excessive temperature difference between indoor and outdoor or skin dehydration caused by long-term stay in air-conditioned room.

  Conditioning tips: First, choose to apply isolated sunscreen. Isolating sensitive sources is the first step.

If you are already sensitive to redness, you should immediately hydrate your skin to relieve allergic redness. It is recommended to use skin care products with soothing ingredients, such as aloe and chamomile.

  Reasons for racial youth: Although racial youth is not common, it is also due to uneven skin tone.

First of all, the body is cold. If there is a problem of anemia or poor blood circulation, it is only prone to the embarrassment of some whites.

  Conditioning tips: Frequent massage to the skin can promote blood circulation, and the skin will become ruddy after the blood circulation is relaxed.

In addition, it is recommended to eat more warm foods and some blood-enriching foods, while eating a balanced diet to promote skin metabolism.

  Causes of racial blackness: Most people’s racial blackness is not inherently inherited, but because of internal hormone secretion disorders, irregular diet and daily life.

In addition, the spring and summer festivals are gradually strengthened, and the production of melanin is also caused by ultraviolet rays and radiation.

  Conditioning tips: Daily sunscreen absorption is an effective way to block the increase in melanin. If you have been tanned, remember to do the work of repairing and whitening after sun exposure.

Adjust your diet and avoid heavy tastes. Drinking green tea instead of coffee also has certain benefits.