maidalun1020/CrosslingualRetrievalFinanceEn2Zh

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25000	浙江疏浚是一家从事疏浚工程及管网建设的企业。
25001	Through a series of acquisitions, the company has grown rapidly, so far the synergies are good.
25002	调整盈利预测并维持“中性”评级:我们调整了对主要金属价格的假设，包括2012-2014年锌价分别为15,500美元、16,000美元和16,400美元/吨，铅价分别为15,000美元、15,500美元和16,200美元/吨，铜价分别为57,000美元、60,000美元和60,000美元/吨，铝价分别为16,000美元、16,500美元和16,500美元/吨。
25003	根据上述内容，该公司在2012年秋冬订货会上的增速预计在30%以上。
25004	为什么作者认为公司未来将迎来快速发展时期？
25005	什么是该公司的PPP订单保障倍数？
25006	宝钢预计，由于市场供应过剩和国内经济减速，2012年下半年钢材价格仍将具有挑战性。他们预计价格将继续在低位波动，并将预期下调了10%。虽然较低的铁矿石价格可能会带来一些缓解，但预计2012年第三季度钢铁价格将难以反弹，一季度迄今已经下跌了3-8%。
25007	(1) In 2015, the revenue of Jianlido increased by over 100%, reaching nearly 190 million yuan; In 2016, it decreased by nearly 30%, only about 130 million yuan; In 2017, Jianlido adjusted its strategy and returned to the dealer system to create a new model of large single products, with a 50% increase from January to May, and a 100% increase this year. The growth rate is expected to continue to improve in the second half of the year.
25008	The expected increase in Mwbonda's interim results for 2012 is due to the overall steady progress of ongoing projects, significantly higher operating project load levels than at the end of 2011, and a better second quarter than the first quarter. Growth is expected to accelerate from the first half of the year as the second half enters the peak construction period.
25009	中美华东保持快速增长的原因是什么？
25010	We expect our recently acquired KeySafetySystems(KSS) and TechniSatDigital(TS) businesses to drive scale expansion and margin improvement, with revenue/earnings growing at 19%/40% compounded annually from 2017 to 2020.
25011	The improvement of the company's inventory turnover indicates that the company's operating capacity is improving. This means that the company has been able to manage inventory more efficiently and that it has not ballooned significantly as the size of its stores has increased. This, combined with the trend in the company's gross margin, suggests that the company's profitability may improve further.
25012	The sharp decline in the company's revenue and net profit in the first three quarters of 2015 was mainly due to internal adjustments. Although the company's market size and share are in a leading position, and it has advantages in research and development, manufacturing and channels, as well as the initial appearance of optimizing internal management to improve efficiency, but because the company chose to carry out intelligent high-end transformation from the tobacco machine to the entrance, the growth of other categories of kitchen appliances was affected, which led to the decline in revenue and net profit. However, due to the high growth of the cigarette machine business and the increase in consumer replacement demand, the choice of cigarette machine as a breakthrough still has growth space and growth rate support, which can drive the growth of other categories of kitchen appliances. Therefore, the company's internal adjustment is the main reason for the decline in revenue and net profit.
25013	老凤祥2017年的珠宝首饰收入占主营收入的比例是多少？毛利率有何变化？
25014	公司在工艺独特、制程领先、适应AIoT市场需求、出货量及营收随大客户快速放量等方面具有竞争优势。具体来说，公司在NORFlash领域采用独特SONOS路线，在中小容量存储中具有功耗低、芯片面积小、工艺优化、光掩膜版层数少、成本低的突出优势，满足AIoT市场对功耗、面积、成本的极致需求；与华力、中芯国际等晶圆厂保持深度合作与战略协同，积极推进制程演进，NORFlash方面，21Q3公司40nm产品已量产，领先于业内65/55nm水平；与头部SoC厂商合作紧密，与恒玄、杰理等耳机主控芯片厂商、汇顶科技等指纹识别芯片头部厂商、昂瑞微等手环主控芯片厂商均为公司合作伙伴。
25015	The company's main business is port logistics and power energy investment. The company has gradually identified these two main businesses by selling and divesting non-main assets. The proportion of port logistics sector in the main business continues to increase, which reflects the initial results of the company's transformation to port logistics business. At the same time, power energy investment income increased steadily. The company obtained equity investment income from Guangzhu Power Generation, Zhuhai Coca Cola and Bippy Chemical respectively.
25016	目前的股价相当于2010年动态PE的近54倍，相当于2011年动态PE的38倍，反映了业绩增长预期。考虑到可能的资产注入预期以及公司目前处于业绩低谷，我们给出目标价20元，并将评级调整为中性。
25017	Event: The company released annual report in 2016 and quarterly report in 2017.
25018	How will the company's cooperation with LG affect NJie's position in the diaphragm sector?
25019	The gross profit margin in the first quarter was 41.3%, which was basically flat compared with the fourth quarter of last year. Under the condition that the price of raw material sponge titanium continued to rise, it basically maintained a high profit level.
25020	2. 规模优势。截至2010年底，公司日产量食用菌约50吨，其中银木菇约42吨，真姬菇约6.5吨，白玉菇约1.5吨，生产规模继续稳居国内前列。
25021	According to the above, the company's performance is expected to continue to improve in 4Q20. This is because the sales volume of the passenger car industry is expected to increase by 6.9% year-on-year and 19.6% quarter-on-quarter, and the production and sales of UMC's main downstream customers are expected to continue to recover, thus driving the company's performance to improve quarter-on-quarter.
25022	The company has a strong intention to grow bigger and stronger and expand rapidly. It plans to raise no more than 1.208 billion yuan to invest in Hunan and Jiangxi provinces, and set up 40 chain stores (34 in Hunan and 6 in Jiangxi) and two department stores (both located in Hunan) respectively. We believe that this will help consolidate and expand the company's business scale and market competitive position in Hunan and Jiangxi provinces, so as to obtain new profit growth points.
25023	What was the purpose of Huayu's non-public offering in January 2016?
25024	According to the above, what was the company's revenue and profit growth in the first quarter of 2012 compared with the same period last year?
25025	晨鸣三季度归母净利润同比减少了27.9%，主要是由于下游需求疲弱，盈利承压。收入端受白卡纸价格下行影响，成本端阔叶浆/针叶浆价格同比去年同期分别增长9.5%/33.0%，导致毛利率下滑2.5pct至30.7%。同时，前三季期间费用率增加1.5pct至20.1%，其中销售/管理/研发/财务费用率分别同比增加-0.5/0.3/-0.3/2.1pct。
25026	青松股份的三大优势是什么？
25027	The project plan is to achieve 30,000 units by the end of 2016 and 100,000 units by the end of 2017. In the marketing of long-rent apartments, the company draws on the new house consignment sales model and has achieved good results.
25028	航天信息公司在2016年上半年的财务状况如何？
25029	Why was the comparable caliber consolidated gross margin reduced by 0.53 percentage points year over year when beer volume was growing?
25030	Profit forecast and investment rating: It is estimated that the company's operating revenue in 2021-2023 will be 12.31, 14.17 and 1.629 billion yuan, with year-on-year growth of 0.9%, 15.1% and 15.0%. Net profit attributable to the parent is 1.01, 1.57 and 210 million yuan respectively, with year-on-year growth of -27.3%, 55.3% and 33.6%. EPS is 0.51, 0.79 and 1.06 yuan respectively in 2021-2023, and PE is 56/34/25 times, respectively. Risk factors: the risk of rising raw material cost, the risk of product research and development schedule falling short of expectations, the risk of industrial policy changes, the risk of the novel coronavirus epidemic and other uncertain risks.
25031	Company dynamics.
25032	考虑到公司股息率居高不下，参考同类公司2019年估值PE12倍，下调公司目标价至8.76元(原12.44元)，维持“增持”评级。
25033	公司2018年不派发现金红利的原因是母公司未分配利润为负，并且公司需要在降杠杆及实现超低排放标准过程中进行较大投入。公司披露2019-2020年股东回报规划，在公司年度盈利且累计未分配利润为正，并足额预留法定公积金、盈余公积金后，公司将积极推行现金分配方式。最近三年以现金方式累计分配的利润原则上不少于最近三年实现的年均可分配利润的30%；且在现金能够满足公司持续经营和长期发展需要的前提下，现金红利总额（包括中期已分配的现金红利）不低于该年度公司实现的归属于母公司股东的净利润的20%。因此，公司未来会根据盈利情况和未分配利润情况推行现金分配方式。
25034	Since 2015, the company has focused on the development of the banking industry and laid out its layout in advance. This year, the company has made a certain breakthrough.
25035	我们预计17-19年公司EPS为0.32元/0.56元/0.74元，公司IDC规模扩张提供增长确定性，与AWS一起可以充分打开云计算的增长空间。未来三年，预计保持35%以上的复合增长，维持6个月目标价20元，“强烈推荐A”评级。
25036	中兴智联收购中兴通讯的目的是什么？
25037	Based on the 16-year PE valuation of comparable companies, the reasonable value range of the company should be 19.8-23.1 yuan.
25038	Although the production and sales volume of the company's products increased, the price of the products declined, resulting in a decline in the company's income. However, the company actively adjusted the product mix and increased the sales of patented products with high gross profit rate. The gross profit rate of insecticide increased by 2.48 percentage points, the gross profit rate of herbicide increased by 2.6 percentage points, and the comprehensive gross profit rate increased by 3.24 percentage points.
25039	The funds raised will be used to build cathode materials for lithium batteries with an annual output of 14,000 tons. Convertible bond landing to enhance the capital strength, positive electrode material market demand is still strong.
25040	What is the main reason for the high profit of Ding Gao Ke?
25041	4. Investment advice and risk tips. The strong recovery of traditional automobile business is the biggest performance point, pure electric vehicle business breakthrough will effectively improve the valuation level; Mobile phone business is in the bottom area, recovery is slow still need to bear a certain pressure; Photovoltaic business is still a drag, loss limit is expected to reduce.
25042	公司的产业新城开发模式通过与政府合作，实现与政府的“双赢”。公司通过开发产业新城，为政府提供就业机会、促进经济发展，同时也能够享受政府的政策和经济发展带来的红利。这种合作模式让公司能够持续受益于政府的支持，并突破行业固有的上限。
25043	问题: 盈利预测与投资评级是什么？
25044	The company expects net profit attributable to shareholders of listed companies to increase by 100% to 119% in the first half of 2021, and by 110% to 130% after deducting non-recurring gains and losses. Tesla sales in the second quarter of 2021 increased by 211.5% year-on-year, driving the company's performance in the second quarter of the year high growth, is expected to achieve net profit attributable to the parent company of 186-226 million, an increase of 81.8%-120.9% year-on-year.

25000

浙江疏浚是一家从事疏浚工程及管网建设的企业。

25001

Through a series of acquisitions, the company has grown rapidly, so far the synergies are good.

25002

调整盈利预测并维持“中性”评级:我们调整了对主要金属价格的假设，包括2012-2014年锌价分别为15,500美元、16,000美元和16,400美元/吨，铅价分别为15,000美元、15,500美元和16,200美元/吨，铜价分别为57,000美元、60,000美元和60,000美元/吨，铝价分别为16,000美元、16,500美元和16,500美元/吨。

25003

根据上述内容，该公司在2012年秋冬订货会上的增速预计在30%以上。

25004

为什么作者认为公司未来将迎来快速发展时期？

25005

什么是该公司的PPP订单保障倍数？

25006

宝钢预计，由于市场供应过剩和国内经济减速，2012年下半年钢材价格仍将具有挑战性。他们预计价格将继续在低位波动，并将预期下调了10%。虽然较低的铁矿石价格可能会带来一些缓解，但预计2012年第三季度钢铁价格将难以反弹，一季度迄今已经下跌了3-8%。

25007

(1) In 2015, the revenue of Jianlido increased by over 100%, reaching nearly 190 million yuan; In 2016, it decreased by nearly 30%, only about 130 million yuan; In 2017, Jianlido adjusted its strategy and returned to the dealer system to create a new model of large single products, with a 50% increase from January to May, and a 100% increase this year. The growth rate is expected to continue to improve in the second half of the year.

25008

The expected increase in Mwbonda's interim results for 2012 is due to the overall steady progress of ongoing projects, significantly higher operating project load levels than at the end of 2011, and a better second quarter than the first quarter. Growth is expected to accelerate from the first half of the year as the second half enters the peak construction period.

25009

中美华东保持快速增长的原因是什么？

25010

We expect our recently acquired KeySafetySystems(KSS) and TechniSatDigital(TS) businesses to drive scale expansion and margin improvement, with revenue/earnings growing at 19%/40% compounded annually from 2017 to 2020.

25011

The improvement of the company's inventory turnover indicates that the company's operating capacity is improving. This means that the company has been able to manage inventory more efficiently and that it has not ballooned significantly as the size of its stores has increased. This, combined with the trend in the company's gross margin, suggests that the company's profitability may improve further.

25012

The sharp decline in the company's revenue and net profit in the first three quarters of 2015 was mainly due to internal adjustments. Although the company's market size and share are in a leading position, and it has advantages in research and development, manufacturing and channels, as well as the initial appearance of optimizing internal management to improve efficiency, but because the company chose to carry out intelligent high-end transformation from the tobacco machine to the entrance, the growth of other categories of kitchen appliances was affected, which led to the decline in revenue and net profit. However, due to the high growth of the cigarette machine business and the increase in consumer replacement demand, the choice of cigarette machine as a breakthrough still has growth space and growth rate support, which can drive the growth of other categories of kitchen appliances. Therefore, the company's internal adjustment is the main reason for the decline in revenue and net profit.

25013

老凤祥2017年的珠宝首饰收入占主营收入的比例是多少？毛利率有何变化？

25014

公司在工艺独特、制程领先、适应AIoT市场需求、出货量及营收随大客户快速放量等方面具有竞争优势。具体来说，公司在NORFlash领域采用独特SONOS路线，在中小容量存储中具有功耗低、芯片面积小、工艺优化、光掩膜版层数少、成本低的突出优势，满足AIoT市场对功耗、面积、成本的极致需求；与华力、中芯国际等晶圆厂保持深度合作与战略协同，积极推进制程演进，NORFlash方面，21Q3公司40nm产品已量产，领先于业内65/55nm水平；与头部SoC厂商合作紧密，与恒玄、杰理等耳机主控芯片厂商、汇顶科技等指纹识别芯片头部厂商、昂瑞微等手环主控芯片厂商均为公司合作伙伴。

25015

The company's main business is port logistics and power energy investment. The company has gradually identified these two main businesses by selling and divesting non-main assets. The proportion of port logistics sector in the main business continues to increase, which reflects the initial results of the company's transformation to port logistics business. At the same time, power energy investment income increased steadily. The company obtained equity investment income from Guangzhu Power Generation, Zhuhai Coca Cola and Bippy Chemical respectively.

25016

目前的股价相当于2010年动态PE的近54倍，相当于2011年动态PE的38倍，反映了业绩增长预期。考虑到可能的资产注入预期以及公司目前处于业绩低谷，我们给出目标价20元，并将评级调整为中性。

25017

Event: The company released annual report in 2016 and quarterly report in 2017.

25018

How will the company's cooperation with LG affect NJie's position in the diaphragm sector?

25019

The gross profit margin in the first quarter was 41.3%, which was basically flat compared with the fourth quarter of last year. Under the condition that the price of raw material sponge titanium continued to rise, it basically maintained a high profit level.

25020

2. 规模优势。截至2010年底，公司日产量食用菌约50吨，其中银木菇约42吨，真姬菇约6.5吨，白玉菇约1.5吨，生产规模继续稳居国内前列。

25021

According to the above, the company's performance is expected to continue to improve in 4Q20. This is because the sales volume of the passenger car industry is expected to increase by 6.9% year-on-year and 19.6% quarter-on-quarter, and the production and sales of UMC's main downstream customers are expected to continue to recover, thus driving the company's performance to improve quarter-on-quarter.

25022

The company has a strong intention to grow bigger and stronger and expand rapidly. It plans to raise no more than 1.208 billion yuan to invest in Hunan and Jiangxi provinces, and set up 40 chain stores (34 in Hunan and 6 in Jiangxi) and two department stores (both located in Hunan) respectively. We believe that this will help consolidate and expand the company's business scale and market competitive position in Hunan and Jiangxi provinces, so as to obtain new profit growth points.

25023

What was the purpose of Huayu's non-public offering in January 2016?

25024

According to the above, what was the company's revenue and profit growth in the first quarter of 2012 compared with the same period last year?

25025

晨鸣三季度归母净利润同比减少了27.9%，主要是由于下游需求疲弱，盈利承压。收入端受白卡纸价格下行影响，成本端阔叶浆/针叶浆价格同比去年同期分别增长9.5%/33.0%，导致毛利率下滑2.5pct至30.7%。同时，前三季期间费用率增加1.5pct至20.1%，其中销售/管理/研发/财务费用率分别同比增加-0.5/0.3/-0.3/2.1pct。

25026

青松股份的三大优势是什么？

25027

The project plan is to achieve 30,000 units by the end of 2016 and 100,000 units by the end of 2017. In the marketing of long-rent apartments, the company draws on the new house consignment sales model and has achieved good results.

25028

航天信息公司在2016年上半年的财务状况如何？

25029

Why was the comparable caliber consolidated gross margin reduced by 0.53 percentage points year over year when beer volume was growing?

25030

Profit forecast and investment rating: It is estimated that the company's operating revenue in 2021-2023 will be 12.31, 14.17 and 1.629 billion yuan, with year-on-year growth of 0.9%, 15.1% and 15.0%. Net profit attributable to the parent is 1.01, 1.57 and 210 million yuan respectively, with year-on-year growth of -27.3%, 55.3% and 33.6%. EPS is 0.51, 0.79 and 1.06 yuan respectively in 2021-2023, and PE is 56/34/25 times, respectively. Risk factors: the risk of rising raw material cost, the risk of product research and development schedule falling short of expectations, the risk of industrial policy changes, the risk of the novel coronavirus epidemic and other uncertain risks.

25031

Company dynamics.

25032

考虑到公司股息率居高不下，参考同类公司2019年估值PE12倍，下调公司目标价至8.76元(原12.44元)，维持“增持”评级。

25033

公司2018年不派发现金红利的原因是母公司未分配利润为负，并且公司需要在降杠杆及实现超低排放标准过程中进行较大投入。公司披露2019-2020年股东回报规划，在公司年度盈利且累计未分配利润为正，并足额预留法定公积金、盈余公积金后，公司将积极推行现金分配方式。最近三年以现金方式累计分配的利润原则上不少于最近三年实现的年均可分配利润的30%；且在现金能够满足公司持续经营和长期发展需要的前提下，现金红利总额（包括中期已分配的现金红利）不低于该年度公司实现的归属于母公司股东的净利润的20%。因此，公司未来会根据盈利情况和未分配利润情况推行现金分配方式。

25034

Since 2015, the company has focused on the development of the banking industry and laid out its layout in advance. This year, the company has made a certain breakthrough.

25035

我们预计17-19年公司EPS为0.32元/0.56元/0.74元，公司IDC规模扩张提供增长确定性，与AWS一起可以充分打开云计算的增长空间。未来三年，预计保持35%以上的复合增长，维持6个月目标价20元，“强烈推荐A”评级。

25036

中兴智联收购中兴通讯的目的是什么？

25037

Based on the 16-year PE valuation of comparable companies, the reasonable value range of the company should be 19.8-23.1 yuan.

25038

Although the production and sales volume of the company's products increased, the price of the products declined, resulting in a decline in the company's income. However, the company actively adjusted the product mix and increased the sales of patented products with high gross profit rate. The gross profit rate of insecticide increased by 2.48 percentage points, the gross profit rate of herbicide increased by 2.6 percentage points, and the comprehensive gross profit rate increased by 3.24 percentage points.

25039

The funds raised will be used to build cathode materials for lithium batteries with an annual output of 14,000 tons. Convertible bond landing to enhance the capital strength, positive electrode material market demand is still strong.

25040

What is the main reason for the high profit of Ding Gao Ke?

25041

4. Investment advice and risk tips. The strong recovery of traditional automobile business is the biggest performance point, pure electric vehicle business breakthrough will effectively improve the valuation level; Mobile phone business is in the bottom area, recovery is slow still need to bear a certain pressure; Photovoltaic business is still a drag, loss limit is expected to reduce.

25042

公司的产业新城开发模式通过与政府合作，实现与政府的“双赢”。公司通过开发产业新城，为政府提供就业机会、促进经济发展，同时也能够享受政府的政策和经济发展带来的红利。这种合作模式让公司能够持续受益于政府的支持，并突破行业固有的上限。

25043

问题: 盈利预测与投资评级是什么？

25044

The company expects net profit attributable to shareholders of listed companies to increase by 100% to 119% in the first half of 2021, and by 110% to 130% after deducting non-recurring gains and losses. Tesla sales in the second quarter of 2021 increased by 211.5% year-on-year, driving the company's performance in the second quarter of the year high growth, is expected to achieve net profit attributable to the parent company of 186-226 million, an increase of 81.8%-120.9% year-on-year.