China Merchants Securities: a win-win situation for online education content channels in the era of traffic dividends

China Merchants Securities: a win-win situation for online education content channels in the era of traffic dividends

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  Online education-the era of traffic dividends, a win-win content channel source China Merchants Securities1.

1 Public schools under the “War Epidemic”: Delayed start of school and start of online teaching ◆ School end: The start of school is generally repeated until the end of February or early March. When will the class not be officially taught?

Early childhood education: On January 28th, the National Health and Medical Commission issued a notice requiring all kinds of childcare institutions to suspend the provision of childcare services. Early childhood education institutions for infants and young children under the age of 3, and parent-child parks temporarily suspended offline training services.

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K12: The Ministry of Education issued a notice on January 27, requesting that all affiliated institutions of higher learning, local colleges, primary and secondary schools, kindergartens and other schools change the start time of the semester at the beginning of the year. 30 provinces and cities across the country have issued corresponding documents, and the K12 step has been postponed.Until the end of February or early March, the Rockets will not teach online.

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Higher education: The Ministry of Education recently issued the “Guiding Opinions on Doing a Good Job in the Organization and Management of Online Teaching in Ordinary Colleges and Universities during the Epidemic Prevention and Control Period,” which requires government intervention, college subjects, and social participation to ensure online teaching.

As of February 2, the Ministry of Education organized 22 online course platforms to open online courses for free2.

More than 40,000 courses, covering 12 disciplines of undergraduate courses, 18 professional majors in vocational colleges.

  Under the influence of the epidemic, the schedule of public schools in the K12 stage: 1.
Classes will not start before the end of February, and new classes will be taken forever, online and offline.

  2.
Whether the school will return to school after the end of February will be notified by the Municipal Education Commission.

  3.
If it is not possible to return to school in March, the online school will be started. In March, the city’s online teaching will be arranged by the city: video lectures by famous teachers will reach students and teachers through various media (including TV stations), and brake on-demand learning.

The city’s unified schedule, 6 lessons a day, 40 minutes each, about 25-30 minutes to watch a video of the teacher lectures, the remaining 15-10 minutes, the teacher in the class to answer questions in the online class.

Broadcast exercises, eye exercises, etc. will be arranged in 6 classes.

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2 Educational institutions under the “War Epidemic”: Hold fast to the traffic bonus and promote free courses ◆ Educational institutions: intense online traffic grabbing and vigorously promote the “free and non-stop” live broadcast courses?

New Oriental Online: Provide 1 million copies of spring class live broadcast courses for primary and secondary school users in the country for free; Oriental Broadcasting provides free small class live broadcast training for public schools in the country?

Xueersi Online School: Trial operation on February 1st, and from February 10th, free live lessons and self-study classes in various disciplines will be launched in sync with the school time from Monday to Friday?

Who to learn from: High-Tow Class donates 20 million winter vacation regular-price live broadcast classes to 20,000 primary and secondary school students in Wuhan, and then promotes free online live broadcast classes nationwide?

Ape Coaching: Provide free live preview sessions to elementary and middle school students nationwide, starting on February 10th, 40 minutes per subject every Monday to Friday?

Homework help: Promote free live national courses. As of February 5th, the number of enrolled free live courses in the spring exceeded 10 million?

NetEase has a way: promote free live national courses, and establish 5 million attendance scholarships1.

3 OTT platform under the “war epidemic”: big screen “learning at home” plan ◆ OTT big screen end: online education on the home side has become an important entry, and the content + channel combination has continued to affect the epidemic situation. Schools have been postponed across the country. In the context of home educationInternet TV and online education are deeply integrated, giving full play to the advantages of the platform, bringing together many high-quality online content.

On February 6, the General Administration of Radio, Film and Television released “Guide to the Standardization of Online Education During the Epidemic Prevention and Control of Online Audiovisual Platforms”, affirming the related work of “stops and stops” for online video and audio platforms such as BesTV, Mango TV, and Huashu Media, and gradually strengthened unified fundingguide.

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Mango TV: From February 4th, the official launch of the online learning plan of “Changing Classes without Suspension and Growth without Delay”, in the mobile IPTV business in Hunan Province, for children in the three major platforms of Telecom and Unicom, in educational TV channels, launched by the Hunan Provincial Department of EducationNetwork “Golden Course” and the designated classroom of Changsha Education Bureau, and think together with well-known educational institutions, Mai Tiange Education to create free courses for all subjects of all ages.

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Oriental Pearl: BesTV, Wenguang Interactive, Oriental Cable fully responded to the education department’s calls for “suspending classes without suspension”, “prohibition of online sales of new semester courses before school” and other calls, integrated multi-channel joint planning and launch of “suspended classes without suspension, at home at home” educationproduct.

The BesTV Air Force has landed in 20 provinces across the country, and has jointly launched a learning and thinking class box. It has also launched the “Zhuge Academy” and “Hua Shi Mu Class”, and has actively deployed online.

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Huashu Media: Provides high-quality educational resources at home and abroad through cable TV interactive on-demand; Zhejiang Huashu Media provides TV-side “school education” to achieve online teaching, online parent conference and other services.

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Cloud Audiovisual Aurora (New Media Cooperative Partner): Go online[School Class at Home], join hands with 30 high-quality institutions, 100 + courses, 20,000 minutes + quality content, 1000 + live online live public classes, and join penguin tutors to invite many frontlineTeachers answer questions online.

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Youku: United Dingyao launched the “Class at Home” program for free from February 10th. At present, nearly 50 primary and secondary schools in Hubei Province have joined the program.

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4 The information platform under the “war epidemic”: live cloud platform has been launched one after another ◆ Online classroom: public school cooperation live broadcast cloud platform, online learning platform has been launched successively According to the Ministry of Education, National Cyber Cloud Class (www.
eduyun.

(cn) Based on ministry-edited textbooks and various versions of textbooks used, it covers all grades from the first grade of elementary school to the third grade of ordinary high school. Based on the teaching week, it establishes a unified curriculum that meets the teaching schedule and provides on-demand courses on the Internet.

Many social organizations have provided online live cloud platforms to assist public schools in successfully providing online courses.

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CV Sources: Launched Xivo Cloud Class, which provides teachers with free online course live streaming solutions.

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Honghe Technology: Launched a self-developed live broadcast platform system “Honghe Air Classroom” + Nail Cooperative System “Love School Class”, thereby embedding the application of “Love School Class” under the company flag (Jin Qilin analyst) into NailPlatform, the recent rapid growth of online course live users, currently reaching 20,000 online at the same time.

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Jiafa Education: Free online classroom, primary education cloud platform, classroom ecosystem, scheduling platform, attendance platform and other smart campus tools are provided free of charge, with a total value of 5 million yuan.

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Tianyu Information: The company launched remote office to ensure that the education cloud platform will not stop classes. As the leader of Wuhan’s education informatization, it actively communicates with the competent education department and urgently builds an aerial classroom platform for primary and secondary schools.

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Topway Information: Provide free online teaching space and real-time teaching tools to the whole country, and open a full set of cold spring online courses.

At the same time, we cooperate with Huawei WeLink to provide localized online teaching services and national famous school resources.

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Fangzhi Science and Technology: United People’s Education Publishing House and other multi-party publishing houses, in order to ensure non-stop classes and free of charge to launch a “smart learning platform” to the country, and provide free use of electronic teaching assistant APP.

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China Hi-Tech (Protection of Rights): Operate two major MOOC platforms: Vocational Education MOOC Platform TopU and Chinese MOOCS, which are open to the public during the epidemic, and universities can apply for free SPOC platform services. The platform providesOne-on-one class instruction.

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1 Development stage: Online education is still in the era of traffic dividend ◆ Current stage: The era of dividends, MAU growth is higher than GMV growth in 2020, online education is still in the era of traffic dividends, the underlying logic is: one, the level of user onlineization rate is lower,There is still room for continued growth, user traffic dividends continue, and online education companies have a lot to buy.

Second, the product and operation capabilities of online classes have not yet entered a mature form, and there is still room for breakthrough and improvement. Some polishing of teaching and research products, teacher training, and management training processes, and fine management and segmentation of class users.

◆ Development stage: In the era of monetization, GMV and MAU will grow in both directions. In the next 3-5 years, the online education track will enter the era of monetization for the following reasons: First, with the stability of the competitive landscape, the platform ‘s demand for new users will decrease and advertisingFocus on, the user structure is mainly retained / continued students, and the average customer acquisition cost is reduced.

Second, operational efficiency has improved and business models have gradually matured. Major online platforms have achieved a certain level of stable conversion rate / continuation rate under the conditions of controllable costs and expenses, thereby achieving large-scale profitability. Online + offlineBecome the mainstream form of the education industry2.

2 driving factors: upgrading of live broadcast technology, the sinking market can provide overlapping support for technology iteration, 5G network popularization + artificial intelligence technology to drive online education development: from recording and broadcasting, large open network courses to online live courses, the core development drivers behind itTechnology upgrades, the spread of smartphones, 5G networks, artificial intelligence and big data technologies have accelerated the iteration of online education product models.

  With the popularization of webcast technology and the maturity of artificial intelligence technology, the course experience that drives online education is further increased to achieve accurate portraits and matching of user needs.

  Supply and education market for creating demand, education demand in low-tier cities has not yet been fully tapped: online education breaks through various restrictions such as geographical distribution, teaching time, communication channels, promotion channels, etc., and direct access of high-quality teachers to low-tier cities, Creating the demand for participation in low-line markets.

  According to the “2019 Online Education Market Research Report” released by the Mob Research Institute, user demand in the three to five tier sink markets continues to increase, and the proportion of online education users in low-tier cities increased from 42% in August 18 to August 1946%.

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3 Market size: Driven by the online rate, it will approach 150 billion in 2023. With the increase of online user penetration, the market size is expected to increase from 20 billion in 2019 to 150 billion US dollars in 2023.

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2018: 500 billion USD market for offline K12 training, 12 billion USD online K12 training, user penetration rate is only 10%.

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2019-2020: The increase in the scale of online education platforms, the rapid increase in the rate of onlineization under the influence of the epidemic, and the increase in the number of online users. It is expected that the market size will reach nearly 500 billion in 2020, doubling its growth.

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2023: The online penetration rate is expected to increase to 50%, the market size is close to 150 billion, and the compound growth rate of the industry in 2020-2023 is close to 50%.

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4 Competition pattern: adjustment on the right, novice players enter the game ◆ K12 Online: Good Future (Xue Ersi Online School), New Oriental Online (Dongfang Youbo), Ape Coaching, Who to Learn From, Homework Help, Netease Youdao, etc. ◆ Vocational Education:Public education, chalk test, China Accounting Online School, Tencent Class, Netease Cloud Class, etc. ◆ Language Learning: Youths: VIPKID, DaDa English, 51Talk; Adults: Hujiang Online School, Fluent English, etc. 2.
4Competitive landscape: TAL / GSX / Ape Coach CR3 market share is about 40% Offline training institutions / online tool platforms / Internet platforms Three types of players have entered the online education, with a good future in 2019 + who to learn + ApeCalculating the total income of the three tutors is about 8 billion yuan. The market share of CR3 is about 40%. The initial initialization is above the head.

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Moving from offline to online: New Oriental, Good Future. Two leading offline agencies have entered the military line, possessing the accumulated teaching strength and brand advantages of offline, lower customer acquisition costs in online competition and a higher K12 business renewal rate.
In addition, there are also offline institutions such as Li Sichen (Zhuge Xuetang) and Siyue Music.

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From tools to content: Represented by ape tutoring, who to learn from, and homework help, early completion of user accumulation and brand building through the tool platform, and then transition to content platforms through strengthening teachers and teaching and research, pure online marketing, ground advertisingbudget.

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From traffic to monetization: Represented by Youdao Class, Tencent Penguin Coaching, backed by the Internet platform, Netease, Tencent and other Internet platforms in terms of traffic, capital and technical advantages, online education as a key layout of the platform.

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5 Business model: Customer acquisition-transformation-retention monetization The business model of closed-loop online education includes three core approaches-customer acquisition, conversion, and retention, that is, first to attract free low-cost users through advertising, and then increase the number of experience classes through WeChat groupsProduct experience and user stickiness, so as to achieve the conversion from low-priced users to regular-priced users, and further retain customers through product and service quality, and continue to achieve repurchase.

  ◆ The three core indicators that determine its economic model are: ROI (cash income / marketing costs, greater than 2 means higher delivery efficiency) or customer acquisition costs (marketing costs / think users, the average summer customer acquisition cost is 500-800 yuan)), Conversion rate (the ratio of low price to regular price, the average conversion rate of summer to autumn is 15% -30%), and the renewal rate (the proportion of regular price users who renew, the average renewal rate is 50% -80%) 2.

5 Teaching Mode: Large and small classes are essentially profitable ◆ Offline class forms: There is irreplaceable demand.

Because offline lectures are more interactive and operation management is more in place, they are more connected with parents and students. They are still the mainstream teaching scene. In high-line cities, users with high ability can choose offline lessons.

  ◆ Online class: The advantage lies in convenience and product pricing. The average unit price of a class is 40-60 yuan / hour, only 50% of the offline class.

The class format can be further divided into large classes (more than 50 students) and small class models (within 50 students). There are differences in the economic models between large and small classes, mainly due to the efficiency of teacher operations. Large class models are more effective in reducing teacher wage costs, and small class models are more effective.The difference between the offline class model and the offline class is that at least the cost replaces the rental cost, the course pricing range is slightly different, and the large and small class model can achieve profitability in a stable state.

◆ Offline / Online 1 to 1: More targeted at offsetting needs.

The waist and tail students are more suitable for one-to-one format and provide targeted guidance. The economic model is not as good as the class model, and the cash flow turnover ability is higher.

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6.

1 Competitive factors: lower customer acquisition costs / higher advertising efficiency The main customer acquisition channels for online education are divided into the following:

Natural traffic: about 5%, mainly through natural traffic or search engine clicks.

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Reintroduction: It accounts for about 20%, and the cost of customer acquisition increases. If the ratio of reintroduction exceeds, the overall customer acquisition cost is lower, and the delivery efficiency is improved.

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Information flow advertising: mainstream customer acquisition channels, accounting for about 70%, the channel is WeChat circle of friends, headline information flow advertising, new registered user acquisition cost is about 200-400 yuan, increasing user acquisition cost at 1300-About 1600 yuan.

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Light live broadcast: accounting for 5%, the cost of acquiring new registered users is only a few yuan.

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6.

1Enhancement space: light live stream diversion, reducing customer acquisition costs Three characteristics of light live broadcast mode1.
Low customer acquisition cost: Compared to the 49 yuan lesson model, live broadcast does not need to pay high promotion costs. The cost mainly comes from the class time fee + platform fee, which greatly reduces the customer acquisition cost.

  2.Strong user appeal: Light courses have a low degree of biology, and users can increase the appeal of the course by experiencing the course in advance.

  3.High teacher requirements: Live lesson recording and broadcasting courses have higher requirements on teachers’ experience and teaching level.

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The most mainstream customer acquisition model for information flow advertising is 49 yuan lessons, mainly in the WeChat circle of friends. The advantage is that the traffic is huge, but the cost of acquiring customers is relatively high.Right or left, there is a conversion rate of 25% -30% for the regular price class. The cost of adding another user is 1300-1600, and the cost of acquiring customers is higher.

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Light live broadcast is a kind of free live broadcast course that lasts for a long time, this form better has both the higher acquisition cost allowed by the traffic exposure machine.

The live broadcast is usually about 30 minutes. The lecturer conducts real-time online interactive teaching to provide potential users with the opportunity to experience the live broadcast course.

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Light live broadcast, as a cost depression for online education, will become the main customer acquisition model for online education in the future.
Live broadcast selling lessons, light live broadcast currently accounted for about 5% of the overall customer acquisition, is expected to increase in the future a large proportion.

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6.

2 Competitive elements: training and operation management of the teacher team?
线上主讲老师主要来自于:1)社会招聘:主要招聘途径, 线下教培机构为主,公立学校老师为辅,通过一定时间 的培训和试课后上岗,多为4-5年有经验Teachers; 2) Internal promotion: If the main lecturer of Ape Coaching is partly promoted by the tutor; 3) Current recruiting: If some of the main lecturer who is studying from the recruitment of freshmen, they will also take the system after systematic training.
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Along with business growth, the teacher team is expanding rapidly, testing the ability of large-scale teacher training and coaching operations.
Take whom to learn as an example. In 2018-2019Q3, 46 new lecturers and 2000 new tutors were added.
The number of full-time teachers in Oriental Broadcasting is expected to increase from 550 in 20H1 to 1,200 in 20H2.
  2.6.2 Improvement space: refined management of content + users in the big class mode?

Content side: The degree of localization of teaching materials needs to be improved.
Most of the online classes use the universal version of the textbooks. Xueersi Online School and Ape Coaching cover different versions of primary school mathematics, such as human education, Beijing Normal University, and Soviet education, but they are relatively limited. The localization of teaching content is for future content upgradeDirection one.
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Client: The hierarchical management of students needs to be refined.
The student grouping mode mainly includes three forms, namely textbook & difficulty, course difficulty, and course type. User grouping can achieve more targeted training content and more refined user management.
Grouping students according to the difficulty of the course has the most models, usually with 2-4 levels of difficulty; according to the type of course, there are generally long and short classes, sprint classes, and special purpose classes.
  2.6.3 Competitive factors: the balance between product pricing and course quality?

The product has a pricing advantage, and has both teaching quality and cost performance.
Compared with the average one-hour pricing of 85-100 yuan for offline K12 institutions, the average pricing of online courses is 45-60 yuan / hour, which is 40% -50% of the offline price. From the perspective of the course price difference, there can be three echelons.: Huh?

The first echelon is represented by whom to learn from, Dongfang Youbiao, and Xue Peiyou Online. The actual one-hour course is priced at 60-75 yuan.
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The second echelon thinks of online school, New Oriental Online and Youdao class for learning. The price per hour is 45-60 yuan.
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The third echelon is homework help and ape tutoring, and the unit price of class hours is 30-45 yuan.
  2.6.3 Space for improvement: OMO mode, integration of online and offline boundaries. New Oriental / Good Future two giants are the first to explore OMO mode?
New Oriental: OMO education and online education dual platform strategy?

In 2019, New Oriental focused on promoting the progress of the dual platform strategy, that is, OMO education and online education parallel.
In 2020Q2, the company invested $ 44 million in the OMO ecosystem, and the annual investment is expected to be 1.
5-1.
$ 600 million, compared to 1.
2-1.
$ 300 million.
New Oriental continued to upgrade the OMO standard classroom teaching system, and the interactive courseware in Bubble Children has been extended to more cities.
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Online education: With New Oriental Online listed companies as the main body, Oriental Broadcasting in K12 business also uses the OMO model, that is, to obtain customer diversion through offline, teach online lessons online, and combine offline teacher and student meetings and parent interaction activities.
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Good future: learn and think better + learn and think better online, OMO is an important layout for sinking the market?
In 2019, Good Future will integrate its learning and online learning and offline learning and thinking, explore the OMO model, and learn and think online and learn and think and promote excellent content as a complement to offline.
Good Future is planning to accelerate the Group’s layout in sinking markets through the OMO model.

The OMO model represented by the double division has become one of the most important ways to enter low-tier cities in the future.

  ? As of 2020Q3 (2019.

11.

30) Of the 70 cities that Xue Peiyou entered, more than 30 cities have launched Xue Ersi online business, and more than half have not yet entered.

Xueersi has about 240,000 people, Q1 / Q2 revenue growth rate is higher than 150%, Q3 growth rate is higher than 200%.

  OMO in the educational context: online and offline teaching integrated?

OMO definition: Online merger offline, full integration of online and offline?

Difference from O2O: O2O mode is unidirectional from online to offline. In OMO mode, online and offline will be bidirectionally intertwined to guide each other?

OMO in educational scenarios: While teaching offline, you can accept online remote lectures, after-school tutoring, Q & A, etc. Local teachers, remote teachers, and adaptive systems can master the learning progress.

  In the early stage of platform development, the R & D investment was above 20%, and after that, the scale increased. After the technology matured, the investment accounted for about 10%.

The R & D investment of the online live broadcast platform includes the upgrade of real-time tools and the update and iteration of the data center. During the teaching process, it is necessary to continuously expand the technology research and development to ensure the platform’s more stable performance, more convenient operating experience and more accurate data portraits.

  ?The platform represented by learning and thinking about online school, who to learn from, and the New Oriental large class usually adopts a self-built platform model. R & D personnel account for a relatively high number of people. From whom, New Oriental Online 天津夜网 accounts for 22% and 25%. Netease has the right way.In addition, there is an online tool business, with R & D personnel accounting for up to 33%.

  ?The platform represented by the Oriental Optimum Small Class is usually another third-party live broadcast platform, such as Classin Wingguo Education, Shengyou Network, Zhanshi Interactive, WeChat, Cloud Course, Talk Cloud, etc. The charging mode is usually one person per hour.Pricing, taking the example of Weihou class, small class 0.

36 yuan / person / hour, open class 1.

2 yuan / person / hour, recording and broadcasting class 2 yuan / GB, the course traffic will have a relative discount.

  Good future (TAL): fast running online + integrated integration giant Good future (TAL): entry grade + high-tier cities dominate, great expansion potential New Oriental Online (1797): Group spin-off and listing, K12 as coreWhat to watch?

The Group’s only online platform was split and listed.

The company was established in 2005 and operates independently. In 2006, the company went public with the group.

In May 2017, the company was listed on the New Third Board and terminated listing in February of the following year. It was listed on the Hong Kong Stock Exchange in March 2019.

  ? The main business of K12 consists of Oriental Broadcasting + K12 classes.

Operating university, K12, pre-school three major business segments, covering all age groups of 3-30 years old. It owns multiple online platforms such as New Oriental Online School, Dongfang Youbiao, Kuxue Dona, etc., 2020H1 university business revenue accounted for 64%,K12 business accounts for 23%, preschool education accounts for 4%, and institutional client revenue accounts for 10%.

? K12 business income and the proportion of estimated visits have grown rapidly.

The company achieved 5 in 20H1.

6.8 billion yuan, an increase of 19%, net profit attributable to mothers-71.28 million yuan, a decrease of 246%.

  The total number of bidding students reached 1.3 million, an increase of 19.

3%, of which the university business decreased by 15 due to business structure adjustment.

3% to 52.

60,000 people, K12, same-time increase of 159% to 75.
.

50,000 people.
  New Oriental Online (1797): U-broadcast focused on sinking the market, with strong operating barriers to learn from (GSX): large-scale profitable large-scale online platform to learn from (GSX): brand bargaining and high operating efficiency to achieve profitOnline platform, who can learn 70% + gross margin and 10% + OPmargin from the following three points?

Double teacher and big class model, teachers have high operating leverage.

As of the first three quarters of 2019, the company has driven 1.09 million listeners with 209 full-time teachers. The number of simultaneous online students in K12 classes is up to 1,400, and the number of simultaneous online teachers’ courses has reached 2,000+. The gross profit margin is close to 75%.

Famous teachers’ blessings ensure teaching quality and brand bargaining power.

In the first three quarters of 2019, the overall per capita rate was 856 yuan, and the K12 course per capita rate was 979 yuan, a 37% increase, 45-60 yuan / hour at the elementary stage and 70-80 yuan / hour at the high school stage, which is higher than the industry average.
The feedback from course operations is better, with K12 business conversion rates exceeding 20% and renewal rates exceeding 70%;

Mature delivery strategy, community marketing + information flow advertising + word-of-mouth marketing multi-faceted comprehensive customer acquisition.

The customer acquisition cost in the first three quarters of 2019 was 549 yuan, exceeding the industry average. It is estimated that the cost of customer acquisition in 2019 will be around 500 yuan, and the sales expense ratio will not exceed 50%.

  Youdao (DAO.

N): Youdao Quality Class focuses on K12 Online Youdao (DAO.

N): Technology core, tool platform and hardware additional services?

The leader of the “Big Chinese” track, in 2018, acquired 100% equity of Chinese Future.

After the acquisition of Chinese in the future, it will accelerate its expansion. In 19H1, it has entered 21 cities and opened a total of 366 learning centers (144 of which are directly operated and 222 are joined).

The company is expected to benefit from the improvement in the level of Chinese language in basic education after the reform of the new college entrance examination, and the rapid growth of large language income. Revenue 1 will be recognized in 2019H1.

4.3 billion, an annual increase of 142%.

The company’s high-level teacher model has rebuilt the moat and established a CBAS four-level teacher training system. As of December 2019, there have been about 1,200 teaching teachers, which nearly doubled in the same period last year.

  ? Launched “Zhuge Academy”, low-cost diversion in light play mode.

Zhuge Class is the main product form of online regular price classes. Using third-party short video / audio APPs such as Himalayan for diversion, low-cost class diversion marketing has achieved significant results. Until the first half of 2019, big language WeChat, big language APP and ZhugeThe number of school users reached 460,000 and 7 respectively.

80,000 and 8.53 million people.

During the epidemic, the company has transferred all the Chinese language colleges to the online colleges and used the method of giving lessons to the spread.

Aiming at low-tier cities, we launched dual-teacher mini-classes in the OMO mode to solve the problem of high-quality education resource allocation and explore market opportunities in second- and third-tier cities.

  Mango Super Media (300413): An entire industry chain platform centered on Mango TV?

The Internet video platform of the entire industry chain service has been opened, with Mango TV as its core asset.

The company’s financial performance is dazzling in the industry, and it is the first domestic video website to achieve profitability, with revenue of 82 in the first three quarters of 2019.

300 million (+14.

6%) Net profit attributable to mother 9.

7.5 billion (+19.

9%).

Variety content self-control ability is outstanding. Happy Sunshine has 16 variety production teams, which can accommodate 6 seats in the top 10 variety platforms in 2019.

In 2020, the variety show reserves will exceed 20+ units.

  ? Mango TV launched the online course of Hunan Education Department to create a free course for all subjects.

The mango cloud classroom under the mango tv education channel covers many fields such as preschool education, basic education, art, science and popular science. The online education channel of mango supermedia is beneficial to benefit from the huge basic traffic of the platform and convenient on-site diversion.

In terms of cooperation resources, we cooperate with Hunan Education Department, Hunan Satellite TV, professional education institutions (learning and thinking), and well-known campuses.

Currently, Mango TV has launched online courses in Hunan Province’s education department to create free courses for all subjects in all ages.

  New Media (300770): Teaming up with Tencent Cloud Audio-visual “Class at Home”?

The OTT side cooperates with Tencent and has a leading domestic new media operation platform.

The company’s IPTV has a monopoly advantage in the operating market in Guangdong. The OTT and Tencent’s in-depth cooperation in the “cloud audiovisual” series has obvious advantages.

The company’s revenue has grown rapidly, with operating income in the first three quarters of 20197.
2.9 billion yuan (+ 65%), net profit attributable to mother 2.

7.7 billion yuan (+ 77%).

In terms of user growth, the number of basic IPTV users increased from 4.57 million straight lines in 2016 to 16.85 million in the first half of 2019. The OTT cloud audiovisual aurora business gradually activated users to reach 1.
.

6 billion.

  ? Cloud Audiovisual Aurora teamed up with high-quality resources to launch the “Class at Home” program.

Cloud Audiovisual has cooperated with 30 high-quality institutions, 100+ courses, 20,000 minutes + high-quality content, 1000+ online live broadcast public courses, and together with Penguin Coaching, invited many front-line teachers to answer questions online.

In the area of outreach M & A, acquisition of education-related companies.

Second-tier wholly-owned subsidiary Guangdong Nanxin Financial Holdings Investment Co., Ltd. acquired Shengjian Network.

0045% shares.

The research and development and operation of military smart TV products of Saint Sword Network. The affiliated products include game platforms, Lexue Xingkong, etc. Among them, “Lexue Xingkong” builds online interactive education products for children aged 3-12.

  Oriental Pearl (600637): BesTV + Dongfang Cable Joint Promotion?

Relying on SMG, building a whole industry chain entertainment group.

The company’s Oriental Shopping is currently the largest video shopping platform in the country, with a wide membership and the largest component of the company’s revenue.

With BesTV being the pioneer and founder of China’s IPTV business model, in 2019H1 BesTV IPTV users reached 51.24 million and revenue was 9.

7.8 billion, which contributed to the revenue of most media network segments.

In terms of film and television entertainment, the film and television are realized on the basis of comprehensive connection with SMG content resources, and the overall layout of the game is to create a content-side industry chain with rich content reserves.

Revenue for the first three quarters of 2019 was 85.

400 million, net profit attributable to mother 13.

100 million yuan.

  ? Work with professional partners to form a diverse online education front.

Beststone’s IPTV, Wenguang Interactive and Dongfang Cable all involve online education. The company has developed online education earlier. Since 2010, Beststone has launched such services.

BesTV has already landed in 20 provinces across the country, and jointly launched the “Learning and Thinking” lesson box. It also launched “Zhuge Academy” and “Hua Shi Mu Class”.

In the future, it is also possible to carry out live teaching on the Oriental Cable platform. The establishment of more than 12 channels involves disciplines of different grades and can cover 1.4 million home users in Shanghai.

  Honghe Technology (002955): Two self-developed on-line research + Dingding cooperation in the air?

Educational intelligent interactive display industry giants, overseas business profit and increase revenue.

The company’s main sources of revenue include smart interactive tablets (18 years of revenue accounted for 63.

16%), projector (14% of revenue.

16%), electronic interactive whiteboard (revenue ratio 4).

35%).

Actively lay out overseas markets. In 2017, the company exchanged with internationally renowned educational fields, established business cooperation with product brand owners, and achieved overseas revenue in 201814.

8.8 billion, an annual increase of 74.

32%.

And Shiyuan Co., Ltd. are two of the top educational intelligent interactive display industry giants. At the same time, they have expanded the field of intelligent interactive tablet applications to the tablet market for business meetings.

  ? Self-developed platform “Honghe Nailing Class” + Nailing cooperation “Honghe Nailing class” went online at the same time.

The two major platforms, “Honghe Nailing Classroom” and the self-developed live broadcast platform “Honghe Air Classroom”, are both undergoing large-scale testing and are expected to be officially promoted to the market after the start of the school.

The “Love Class”, a subsidiary application of Honghe Technology embedded in the DingDing platform, provides comprehensive teaching functions and digital teaching resources, which can help teachers to achieve “online preparation lessons, live lectures in the air, and homework review”.
The company can directly contact the school for cooperation in areas that can not be covered by Nail.

Recently, the number of online course broadcast users has increased rapidly and currently reaches 20,000 people online at the same time.

  Jiafa Education (300559): Wisdom Admission + Wisdom Education Two Wheel Drive?

The wisdom of leading the examinations, the “new college entrance examination” reform started the second round of growth.

As the domestic leader in intelligent recruitment, the market share of the first round of standardized test sites is about 60%.

Benefit from standardized test room 2.
With the promotion of 0 construction, the construction of standardized test sites increased from 500,000 to 1.5 million under the “new college entrance examination” reform, and the demand for standardized test site equipment increased significantly.

Wisdom examination + smart education promote the company’s revenue growth, the first three quarters of 2019 revenue4.

2 billion (+ 65%), net profit attributable to mother 1.

5.5 billion yuan (+ 101%).

  ? Smart education integrated solution provider.

Since 2017, smart education has become an independent sector, with revenues of 27 million in 17 years and 67 million in 18 years. It has maintained rapid growth in 19-20 years.

Product lines include smart education, new college entrance examination product line, smart campus business, new college entrance examination personalized development needs to enter smart class cards, scheduling and elective system and other new product and service forms.

The online classroom platform helps teachers create an “in-flight classroom”. Schools and teachers can initiate live lectures from anywhere, and students can participate in live learning in a variety of ways.

During the epidemic, free online classrooms, primary education cloud platforms, classroom ecosystems, scheduling platforms, and attendance platforms were provided free of charge as smart campus tools, with a total value of 5 million yuan.

  Risk Warning 1.
Online education supervision policies are becoming stricter: strictly follow the offline supervision policies, and any relevant policy changes will have a transmission effect2.
Intensified competition pattern: players on the content side, technology side, and traffic side enter the game, intensifying market competition, and extending the transformation time of the competition pattern3.
Profitability failed to meet expectations: User retention and conversions did not meet expectations. Online platforms continued to acquire customers and were in a potential state. The rate of profitability was not up to expectations.

Magmet (002851): High-performance segmentation business continues to contribute to growth momentum

Magmet (002851): High-performance segmentation business continues to contribute to growth momentum
The company released the 2018 performance report, reporting consolidated company revenue and returning net profit increased by 60 each.19%, 73.92%, exceeding expectations.The company’s smart bathroom business will continue to grow with new customers and new channel breakthroughs. The electric vehicle business will enter the BAIC supply chain and begin to enter the harvest period.The company intensively cultivates under its power electronics core technology platform, and continuous breakthroughs in sub-sectors will contribute to growth momentum.Maintain the “prudent recommendation-A” parity and raise the target price to 32-34 yuan. High performance growth, exceeding expectations.In 2018, the company realized revenue and operating profit, which was attributed to net profit23.94, 2.67, 2.4 billion, an annual increase of 60.19%, 56%, 73.92%.Among them, in the fourth quarter, revenue and operating profit were attributed to net profit7.83, 0.85, 0.810,000 yuan, an annual increase of 66.4%, 82.4%, 147% (three subsidiaries have had a certain impact since the consolidation in September), the performance growth exceeded expectations. Analysis of business growth of each sector.It is estimated that 杭州桑拿网 the company’s smart home appliance business will achieve revenue of 110,000 yuan (+ 50%) in 2018, of which, smart bathroom 3.800 million (+ 60%), 4 frequency converters.300 million (+ 65%). Industrial automation segment achieved revenue8.400 million (+ 148%), of which, 500 million (+ 623%) of new energy vehicle electronic control.Industrial custom power supply realized revenue 4.900 million (+9.5%). New customers and new channels promote the continuous growth of smart bathroom business.The company’s smart bathroom business revenue mainly comes from the ToB business, which accounts for more than 90% of its revenue. As the number of customers continues to grow and individual customer spending increases, the ToB business will maintain rapid growth.The revenue contribution of private label business is relatively small, but there are more than 100 existing agents, and there are channels for single store openings to improve space, which has great potential for development. The electric vehicle business has deeply entered the BAIC supply chain.The company and BAIC started cooperation in 2013 and entered the harvest period in 2018.At present, the products cover the main models of the two series of BAIC EU and EX. As the sales volume of BAIC new energy continues to increase, the company will fully benefit.The rest of the customers, the company is also steadily expanding, Dongfeng, Geely and other projects have progressed smoothly. Focusing on intensive cultivation of power electronics platforms, breakthroughs in subdivided industries continue to contribute to growth momentum.The company continues its business layout around its core technology platform for power electronics. It has made breakthroughs in the fields of industrial display, industrial power, industrial automation, smart home appliances, and electric vehicles. Smart bathrooms and electric control of electric vehicles have quickly become the main support for the company’s performance.At present, intelligent welding machines in the field of industrial automation have an income scale of 1-2 billion yuan. In addition, mining and mining equipment, electric stun guns and other businesses are developing very well, and full orders are expected to become the driving force for the company’s performance growth. Investment suggestion: raise performance, maintain “prudent recommendation-A” rating, and adjust target price to 32-34 yuan. Risk reminder: the risk of fluctuations in the new energy automobile industry and the risk of rising raw material prices.

Gree Electric (000651): Open call for proposals is expected to become a leader in mixed reform

Gree Electric (000651): Open call for proposals is expected to become a leader in mixed reform

Equity transfers proceeded in an orderly manner, and the transfer price was adjusted to not decrease due to dividends.

17 yuan / share company publicly solicited the transfer of 15% of the shares by the major shareholder. The company’s solicitation of the transfer plan has been approved in principle by Zhuhai SASAC.

Due to a cash dividend of 15 yuan for every 10 shares on August 6, 2019, the transfer price shall be 深圳桑拿网 adjusted to not less than 44 in accordance with the ex-rights and ex-dividend events.

17 yuan / share (the original transfer price is not less than 45.

67 yuan / share).

The public solicitation period is 15 trading days. The intended transferee should submit a full set of transfer application materials to Gree Group from August 13 to September 2, 2019.

We believe that Gree Electric’s equity distribution has been carried out in an orderly manner, and the conditions of the intended transferee clearly stated that it should be conducive to the sustainable development of the listed company and re-effective strategic resources for the company. In the future, hybrid reform will promote the listed company’s corporate value and accelerate the company’sLeader of the joint air-conditioning industry.

The equity transfer factors are 南京夜生活网 further clarified, and the lower limit of the equity transfer price has been adjusted. According to the analysis in our report “A major shareholder intends to publicly transfer 15% equity” published on April 8, 2019, the transfer price is estimated to be no less than 45.

67 yuan / share. As the company distributed a cash dividend on August 6, 2019, the transfer price was adjusted to not less than 44.

17 yuan / share, the final transfer price of the major shareholders is subject to the results of public solicitation and approval by the state-owned assets supervision and management department.

The intent assignee has clear conditions and will help the company’s sustainable development in the future. According to the requirements of the solicitation plan, the intent assignee should be the sole legal entity (limited to the company’s legal person or limited partnership), or controlled by the same shareholder’s controlling or actual controllerConsortium consisting of no more than two legal entities (including one entity or a combination of no more than two entities initiated by an entity established by the core management team / partner of the private equity investment management institution).

In the case of a consortium, the minimum percentage of shares transferred by any legal entity shall not be less than 5%.

And the intended transferee should assist the company’s sustainable development and improve the corporate governance structure. There should be no major adverse arrangements that affect the stability of the company’s equity structure. At the same time, it should be able to re-strategize the company’s strategic resources such as effective technology, market and industry synergy.

The public transfer solicitation time is tight and the requirements are high. The SASAC approved the implementation of this public solicitation period for 15 trading days (that is, August 13, 2019 to September 2, 2019). The intended transferee should submit to GreeThe group submitted a full set of application materials.

And before submitting the application materials for assignment, RMB 63 million (or USD equivalent) must be paid to Gree Group as the contract guarantee for this transaction.

After the public solicitation period expires, Gree Group will organize an evaluation committee to conduct a comprehensive evaluation to determine the final transferee and accompany the signing of conditional and conditional “share transfer agreements”. “Equity transfer agreements” use state-owned assets supervision and management institutions and other rightsApproved by government agencies as a condition of performance.

It is expected to become the leader of mixed reform, and the value of the company will be further highlighted. We believe that the public call for proposals has been announced, the company’s mixed improvement process is speeding up, and the intent of the transferor is expected to bring modern corporate system reforms to the company, improve the corporate governance structure, and at the same time it is expected to make company appointments moreMultiple strategic synergistic resources. With the company’s existing industrial chain advantages and the strength of domestic leading brands, the mixed reform has a high probability to accelerate the company’s development towards the transformation of the air-conditioning industry leader and promote future growth space.The EPS for 2019-2021 is 5.

06, 5.

97, 7.

07 yuan forecast, maintain “Buy” rating.

Risk Warning: Foreign exchange inflow is lower than expected.

Macroeconomic downturn.

Land impact may exceed expectations.

How to prevent baby anemia through diet

How to prevent baby anemia through diet

[Introduction]Living standards have improved, and children ‘s nutrition has been guaranteed. It is puzzling that despite the constant presence of three meals a day, there are still too many babies with symptoms of anemia. Why is this?

Experts caution that parents should look for reasons for their children’s alternatives, because improper choices are likely to lead to anemia.

  The nutrition is constantly strengthened. The baby is about to become anemia. Ms. Wang ‘s baby is just three years old. Due to her mother ‘s careful selection, the little boy looks white and fat. When she goes to the hospital for a physical examination, the doctor finds that the baby has mild iron deficiency anemia, although the symptoms are mild.No medication is needed, but Ms. Wang is still advised to pay more attention to the baby’s diet to avoid symptoms such as abnormal mental development and behavioral changes due to iron deficiency anemia.

  Ms. Wang felt aggrieved when she heard what the doctor said, because she has always paid great attention to the nutritional mix of the child, milk, fish, shrimp and so on. The child has never been short of it.

However, the doctor learned from Ms. Wang’s words that the baby has rarely eaten beef, pork, animal liver, green leafy vegetables, and the reason for the baby’s anemia is that the parents’ daily operations are not reasonable.

  Most of the baby ‘s anemia is caused by improper intake. Experts say that many children with iron-deficiency anemia are clinically found, which is different from anemia when children are depleted with existing substances. Most of today ‘s children ‘s anemia is not nutritionally unable to keep up.It is caused by the parents’ unreasonable alternatives. Most of the children with anemia have mild symptoms and can be corrected only by taking supplements.

  So the baby is born 1?
After 4 months, there will be a physiological anemia period. The reason is that infants and young children grow and develop quickly and require a large amount of iron, and the iron stored by the mother at birth is generally consumed after 3 months of birth., Breast milk or milk can not provide enough iron for the baby, the baby is prone to physical anemia.

  In addition to the period of physiological anemia, some parents do not add supplementary food to their children in time, which may lead to insufficient iron intake; or, although sometimes a certain amount of iron, the child’s rapid growth and development may also cause iron deficiency anemia.
Some babies who are allergic to milk, long-term infection with milk can cause chronic bleeding, which leads to anemia.

  In addition, some babies do not like to eat green leafy vegetables in the diet, and animal viscera will also cause cell nucleic acid metabolism disorders due to lack of folic acid and vitamin B12, and induce megaloblastic anemia.

  Children with anemia should be prevented as early as possible. Iron deficiency anemia can lead to children’s mental retardation and abnormal behavior changes. Iron deficiency anemia that occurs in infants and young children can even cause irreversible damage. Therefore, parents must attach great importance to the reasonable replacement of the baby.

“First of all, because iron babies in breast milk are easy to absorb, moms have correctly chosen breast milk replacement.

If breastfeeding is not possible, try to choose infant formula instead of iron.

Experts reminded, “Second, parents should pay attention to the baby 4?
At 6 months, add supplements to them at the right time and in the right amount.

“Generally speaking, liver, blood, beans, meat (beef, lamb, fish, etc.), green leafy vegetables, apricots, and peaches contain more iron. Green leafy vegetables, liver, kidneys, and yeast have lower levels of folic acid.

When adding complementary foods, follow one-to-many, one-to-many, and thin-to-thick principles as appropriate. According to your baby’s digestive ability, you should observe 3?
7 days, when the baby is sick or the weather is too hot, the addition of new breeds should be suspended.

  Experts point out that younger babies can supplement iron with egg yolk and pork liver sauce, and older children can add meat paste, meat floss or animal blood to supplement iron.

When drinking fresh milk, the baby should not be boiled for too long to avoid the loss of anti-anemia factors such as folic acid and vitamin B12.

  If your child has anemia, you can take medicines such as iron-containing syrup, iron-zinc-calcium granules for children, and blood tonics under the guidance of a doctor.

Hold love, refuse marriage

Hold love, refuse marriage

Boa stood far away from the door of marriage. May is the wedding season.

Often in the sunshine with the smell of late spring, when I saw the convoy passing by the street, the fragrance of red balloons and roses raised the taste of happiness.

In the red dust, the look of the bride was not clear, but the wedding dress with a glimpse of a glance always drew endless imagination.

  AirAsia antiqued her wedding at this time.

On the way to the wedding banquet, Baoer and I made all kinds of details in advance, but everything was unexpected.

It helps, it’s more like a friend’s dinner.

Because the Air Force does not have any information about the groom, the sudden marriage of Arab Airlines makes us a little bit more guess about the groom.

To be honest, some of the grooms who appeared late were disappointed-they were neither tall nor handsome, but they could not see any shadow of the so-called young talents.

But Ahang went to marriage so quickly and resolutely, it was resolutely embarrassing.

  ”In an age when everyone is unaware of marriage, a person who proposes to you shows that he really loves you and is responsible for you.

All I need is someone who treats me and my family wholeheartedly.

When Ah Hang said this, I saw Bao’er frown.

  A close friend of the boudoir, now there is only a single shadow of Baoer.

On appearance, on talent, on intelligence, and Baoer.

In front of the company’s director, Bao’er has his own car and elegant residence, and there are also men who are dedicated around him, but neither IT elites, doctors, professors, or turtles can enter Bao’s law.

No matter if it is a candlelight dinner, or a flower diamond ring, or whether it is tenderness or vows, Baoer always stands far away from the door of marriage and is vigilant.

  The fairy tale is over, the prince and princess will definitely not live a happy life-this is why Baoer refuses to marry.

Pursuing Baoer’s perfect personality, what he wants is a perfect person, a perfect marriage.

But in the mortal world as far as the eye can see, what is the chance of holding it all in your palm?

Carrying the ideal Boa, he was in fear of the broken dreams.

  I don’t know how many people feel happy at the moment when they put on a wedding ring.

In the city of desires, more and more people are afraid of marriage.

Not not to love, but just to hold love while rejecting marriage, family and everything related.

  Cohabitation-YouWin (You Win)!

In Chris?

In the comedy film “Billions of Fiances” starring O’Donnell, Jimmie, who is deeply afraid of marriage, is failing to propose to his girlfriend.

This is the most romantic candlelight restaurant in the city (usually, men bring their girlfriends here when they propose). There are nervous men with ring boxes in their pockets. Jimmie knows that tonightWill change your life.

For a man who believes that freedom is better than everything, and changes his girlfriend like a lantern, enjoying his happy and colorful date, how difficult it is to give up freedom in the promise of love.

  How many people are willing to give up freedom to marry?

you win!

Jimmie’s proposal word actually spoke to many men (including some women).

Choosing a marriage is, for them, a compromise and disarm after a long battle of wits and wits-you win!

  Those who do not want to surrender choose another way: cohabitation.

The biggest benefit of cohabitation is being able to withdraw at any time.

Although marriage seems to many people to be just a contract, this paper represents responsibility, obligations, economic benefits, long-term stable cooperative relationships, and relative restrictions on individual freedom.

Cohabitation can avoid all these rules.

  Of course, cohabitation is also troublesome.

The first is whether two people living together can calm down, accept the status quo rationally, make no effort and fantasy to change reality, and have the mental capacity to dissolve the community at any time.It’s like you’ve worked hard to build a house, but the door of this house is not locked, and it’s always a bit unreliable to enter, because sometime unexpected guests break in, or the valuables in the house are missing.

  Perfectionism-Always fear of marriage There are too many reasons to support our escape from marriage.

In an online survey with 4,786 people participating, 13.

9% of people are afraid of getting married and having children; 23.

1% of people have mild marriage phobia, fearing that love will deteriorate; 14% will not consider marriage at all.

  A pair of lovers walk hand in hand on the beach in the sunset; two enviable talents and beautiful women kiss on the lawn of their own estate; the Titanic who hit the reef lives and dies parting with Rose and Jack-movies, novels and romantic stories,Shaped the picture of a happy marriage in our minds.

This is the life we want. Based on that, the trivial days, the years in chai oil and salt, how to see how upsetting.

  Indeed, the perfect life is always only in the movie. Many people understand this, but they cannot accept the shortcomings of the life itself, including love.

After watching the movie, you have to deal with work, pay bills, settle disputes with your lover-these, referring to the ideal marriage life, always cause boredom and helplessness.

In spite of these everyday things, many people still ask: Why can’t my life be like others (movies, novels, and those intoxicating fragments that others tell you)?

  The so-called imperfections all arise from contrast.

Those who are afraid of marriage are mostly perfectionists who “eliminate others” in order to love their dreams that do not exist.

  Marriage experts give advice to perfectionists: If you want a happy marriage, give up those unrealistic expectations.

First of all, your lover will not be as cool as a movie star, neither a pretty woman nor a millionaire.

Just as there are various obligations outside of marriage, the actual marriage relationship contains two people’s different views and different tastes.

Imperfection does not mean that something is wrong with your marriage.

On the contrary, if you can recognize these differences, they will enrich your marriage life.

  For those who demand perfection, if they don’t give up their blame, they will always have fear of marriage, or they will be burnt out in difficult sexual relations.

  Early childhood influences marriage attitudes Actually, we didn’t know that love and marriage were some kind of child.

As a result, the outside has shaped the model of family life for us and gave us reveries about marriage life; the past experiences, especially those unpleasant experiences from the family, put us in the shadow of misfortune and fear,Fear of getting hurt in your marriage.

  In the study of love and marriage, psychologists put forward the theory of love attachment.

The theory holds that there is a direct relationship between the emotional bond formed between a child and his main caregiver and his love pattern in adulthood.

Babies have an inherent need for emotional attachment from birth, because this need can increase their chances of survival and ensure that they receive proper care and attention.

The extent to which this need is met will affect their emotional development from puberty to adulthood.

The baby feels that he can be cared for at any time, and can depend on the degree of change of the primary caregiver, the more confident he will be with other people in adulthood.

Conversely, if the attachment object is unreliable and does not respond to their needs, the consequences will be reflected in their love relationship after they reach adulthood.

Expectations established as a child will continue and have a profound impact on a person’s life’s love and marital relationship (see “Why can’t love last long”).

  Based on this, researchers have proposed three models of attachment-although many people do not fit exactly into one or more models, they overlap in many places.

  People with a secure attachment model usually have a positive opinion of themselves and others, feel comfortable with their intimate relationships and interdependence with their partners, and everything is smooth; people with avoidance attachment models are often unwilling to be too close to othersIt is also difficult to fully trust your partner; people with anxiety-type attachment models want to change their distance from their partner again and worry about losing their love.

  The elite, the avoidant attachment model, are most likely to have a fear of marriage.

Many times, their response can be traced back to the misfortunes of childhood.

The parents’ marriage relationship is not good. Frequent conflicts and even violence in the family will leave a deep psychological impression that the marriage is unpleasant.

These impressions became the root of their fear of marriage when they were adults.

In addition, the emotional experience of failure once will also hurt a person’s confidence in marriage.

Marriage teaches us to grow.

In a gender society, everyone must face difficulties.

Accept or escape, the choice is yours.

Aphrodisiac diet for men

Aphrodisiac diet for men

(1) Sea cucumber porridge: Sea cucumber (chopped) 50 grams, previously rice 100 grams.

Soak the sea cucumber, cut open the abdomen, dig out the intestines, scrape clean, chopped, and boil with water.

Earlier the rice was washed and put in the casserole with sea cucumber.

Add water, boil it with martial arts, and simmer for 20-30 minutes with simmering heat.

Add onion ginger salt to taste, eat on an empty stomach in the morning.

It has the effects of nourishing kidney and replenishing essence, nourishing yin and blood, and is suitable for physical weakness caused by kidney deficiency and yin deficiency, waist and knee weakness, insomnia and night sweats.

It can be used to treat the weakness of kidney qi, supplement of essence and blood, impotence, premature ejaculation, nocturnal emission, frequent urination, pale complexion, dizziness, tinnitus, weak waist and knees, fatigue and fatigue.

  Kidney and Yijing words sea cucumber-Chinese medicine believes that sea cucumbers are sweet, salty, warm, and have the effects of kidney and kidney essence, aphrodisiac therapy, moistening and laxative, patients with dizziness, tinnitus, backache weakness, slippery dreams, frequent urination,All can be used as a nourishing diet.

  (2) Chinese wolfberry pork loin porridge: 10 grams of Chinese wolfberry, one pig kidney (remove the inner membrane, chopped), 100 grams of rice, seasoned with onion and ginger, and boiled together.

It is beneficial to kidney yin, kidney yang, solid essence and strong waist. It is suitable for kidney pain caused by kidney deficiency, yin and yang loss, soft waist and knees, weak legs and feet, dizziness and tinnitus.

  (3) Cistanche sheep waist porridge Cistanche sheep waist porridge: 10 grams of Cistanche deserticola, one sirloin (removed from the inner membrane, chopped), 100 grams of rice, boiled into the same porridge.

It has the effect of nourishing kidney and helping yang, improving proficiency and defecation, and is suitable for chilling limbs, waist and knee cold pain, frequent urination, polyuria at night, constipation, etc. caused by kidney yang deficiency in middle and old age.

  (4) Antler gum porridge Antler gum porridge: 6 grams of antlers gum, 100 grams of previous rice. After the previous rice is cooked into porridge, staghorn gum is broken into hot porridge to dissolve, and an appropriate amount of sugar is added.

It has the effects of nourishing kidney yang and nourishing essence and blood, and is suitable for deficiency of kidney yang, thinness of body caused by deficiency of essence and blood, softness of waist and knee, pain, impotence of nocturnal emission and so on.

  (5) Eucommia ulmoides Eucommia ulmoides: Eucommia ulmoides 12 grams, decoction for filtering, a pair of pork loins, remove the endometrium, cut into cashews, use Eucommia liquid to make seasoning juice, stir-fry with onion ginger and salt and eat.

It has the effects of nourishing liver and kidney, strengthening bones and bones, and lowering blood pressure. It is suitable for middle-aged and elderly people with liver and kidney deficiency due to kidney deficiency, low back pain, waist and knee weakness, dizziness, tinnitus, and hypertension.

  (6) Stir-fried walnut kernels: 10 grams of walnut kernels.

It has the effect of nourishing the kidneys and warming the lungs, moisturizing the intestines and laxative. It is suitable for those with weak kidneys, low back pain, weak feet, or cold, asthma and constipation.

Four Mistakes in Hair Care

Four Mistakes in Hair Care

Everyone wants to have dark and beautiful hair, so the care and care of the hair is very serious.

Due to different hair quality, everyone’s maintenance methods are different.

But being able to do it scientifically is not so easy.

Here are a few common misunderstandings. See if you are doing the right thing?

  1.

To treat itching, is it necessary to wash my hair frequently and clean it thoroughly?

  Answer: No!

The so-called shampooing should really wash the scalp, because the scalp has very developed sebaceous glands in the hair follicles, which will be stimulated by male hormones to secrete oil. When too much oil is in the hair follicles, it will easily become dirty, and it will naturally fall for a long timeSensitive discomfort, redness, and itching may occur.

  2.

Two-in-one shampoo, convenient and good care?

  Answer: No!
In order to meet modern people’s needs for quick and easy things, many hair product manufacturers have launched hair care products that are all in one.

But cleaning power and maintenance effectiveness do not mean double.

It is unrealistic to want to achieve a true sense of integration.

Therefore, it is recommended that you can choose separate products for targeted care.

In particular, the hair just after dyeing requires more effective care in all aspects.

  3.

Hair fall easily, so reduce the number of shampoos?

  Answer: No!
There are many causes of hair loss, not only related to natural constitution, improper cleaning methods or poor hygiene will cause severe hair loss. Experts point out that it is normal to lose 30-100 hairs per day.

For the number of shampoos, it is best to wash it every two days, and avoid using shampoos with high irritation, so as not to cause greater damage to the hair.

  4.

In order to reduce the damage of hair dryer to hair, let it dry naturally?

  Answer: No!
Drying naturally is not necessarily good. Experts say that if you leave your hair in a moist state for a long time, it will cause bacterial growth problems.

For those who like to shampoo at night, they should pay more attention to it. You can first use a hair dryer to dry the hair to 70%, and then dry it naturally.

Cold in autumn and winter, 10 kinds of food to drive cold

Cold in autumn and winter, 10 kinds of food to drive cold

Click to buy into the late autumn, winter is not far away, the weather is getting colder, in addition to adding clothes to keep warm, we can also eat some cold food to resist the cold.

So what is the food that drives the cold?

  1, when the squid is cold, the treasure mothers can give the children a bowl of squid soup to drink.

The fish has spleen and dampness, and the appetizer, the blood circulation and the collaterals, the effect of warming the air, drinking the squid soup, the taste is delicious, and can drive the cold to appetite and spleen.

  2, beef, mutton, lamb, everyone knows, needless to say.

Tell me about beef here!

When the weather is cold, you can let your child eat more beef, because it has the effect of tonifying the spleen and stomach, benefiting qi and blood, strengthening the bones and bones, and the child’s qi and blood is strong, and the body is naturally warm.

And beef itself has the effect of tonifying the spleen and stomach, do not worry about the child’s food.

  3, red dates, everyone see jujube, red, round, like a small sun, so it has the role of warm and yang, whether it is rice or millet or white porridge every day, plus two three, let the childEating warm and yang benefits is particularly good.

  4, the pigeon meat Chinese medicine analogy, flying beyond, the heat is stronger.

For example, pigeons fly higher than chickens, so it is hotter than chicken.

In fact, the pigeon meat does have the effect of tonifying the kidney and warming the yang, enhancing the vitality of the vitality.

When it’s cold, let your child eat some pigeon meat to solve it!

  5, mushrooms, mushrooms, high protein, low feces, often eaten to enhance immunity, promote metabolism, so that people live vigorously.

  6, longan longan is rich in glucose, sucrose and protein, and the iron content is also relatively high, which can improve the heat energy, supplement the nutrients and promote the regeneration of hemoglobin, thereby achieving the effect of blood.

In addition to its beneficial effects on the whole body, longan meat is especially effective for brain cells, which can enhance memory and eliminate fatigue.

For a snowy day like this, let the children eat a few pieces every day, the effect is super good.

  7, Angelica first recommended to everyone is Angelica.

When the mothers are cooking, they can add Angelica as a seasoning.

Chinese medicine believes that Angelica is warm, non-toxic, into the heart, liver, lung, has the effect of moistening and drying the intestine, blood and promoting blood circulation, Chinese medicine said it cures all deficiency syndrome.

Children eat a little, can drive cold, enhance resistance, prevent frostbite.

  8, cinnamon winter, when the mothers can also add some cinnamon when cooking, it into the heart, spleen, lungs, kidney four classics, good gas and blood, Ning Xin An Shen.

Let me say a little more, like our adults have cold hands and feet, you can also use cinnamon.

  9, garlic, garlic, moderate digestion, dehumidification sterilization, especially when the flu is popular, you can put 3 cloves of garlic, drowning water to let the children drink a bowl.

To put it another way, garlic water is very effective in treating cold cough.

If your child is coughing with cold, you can try this recipe first.

  10, ginger ginger is spicy, can dilate blood vessels and accelerate blood circulation after eating, which is why you feel warmth after eating it.

Before the child goes out, or the child is cold, give the child a bowl of ginger candy, three pieces of ginger and water and add brown sugar to taste for the children to drink.

Several points of expert decoration study

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Several points of expert decoration study

The unification of color and color often gives a feeling of quietness and chaos.

The furniture in the study is best designed with a simple design. The simplicity here refers not only to color, but also to the design elements.

Even the blinds of the study can be chosen to have the same color as the furniture.

The human body will react differently to different colors. According to this conditional reflection law, it is a good way to change the seasonal warmth of the room with an intuitive color.

If it is not realistic to change the color of the whole house, it can also add a little coolness to the living room by replacing it with a decorative painting.

銆€銆€The light in the light study room can’t be too strong, too strong light will hurt the eyes, it is very inconvenient to read, so the study room mainly based on reading office is best chosen in the direction of the north of the house, the choice of back sun blocks the direct sunlight.The natural study room will occasionally cool too much.

If the room is not sunny enough, you can replace the indirect light source if necessary.

The light source of the study should be soft white light, which helps to relieve eye fatigue.

銆€銆€Furniture Presupposition: The study has high requirements for lighting and lighting, because the human eye works in too strong and weak light, which will have a great impact on vision.

Therefore, it is best to place the desk in a sunny but not direct window.

In this way, when you are tired of work, you can also look at the eyes with your eyes.

If your study has too many books, you have to consider the troubles that the summer rainy season brings to the collection.

The best way is to put the bookcase on the sunny side and the side on the back side. The collection and reading will not be affected.

The modern study does not hinder the selection of transparent glass manuscripts and color-filled bookcases. The shape of the bookcases is preferably straight, and the glass will have a cool feeling when placed at the desk, and then with a mesh office chair,It’s hard to be cool.

If you put a pot of plants in the corner of the bookshelf, the feeling of freshness and coolness will come to life.

銆€銆€The soundproof study room is a place for study and work, and relatively quiet, which can improve work efficiency. Therefore, when decorating the study room, it is necessary to replace the decorative materials with good sound insulation and sound absorption.

The ceiling can be suspended by a sound-absorbing gypsum board. The interior can be decorated with PVC sound-absorbing panels or soft-packed fabrics. The floor can be made of carpet with good sound-absorbing effect. The curtains should be thicker to block the noise outside the window.

Down the toes of the stairs to protect the joints

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Down the toes of the stairs to protect the joints

It is a trivial matter to go down the stairs, but the damage to the knees far exceeds our imagination.

When a person lie down, the weight of blood pressure is almost zero. When standing up and walking, it is 1-2 times the weight, while the weight of the knee when going down the stairs is 3-4 times the weight!

Imagine that a normal person weighs about 60 kilograms and is subjected to a pressure of 240 kilograms per next step.

“For the middle-aged and elderly people whose knee joints have been degeneratively degraded, due to insufficient muscle strength in the legs, sometimes the stairs will be more impactful than the stairs.
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“At this time, let the toes touch the ground first, so that the arch is subjected to a part of the force, which can increase the buffer distance and provide a certain protective effect on the knee joint.

In addition, in order to reduce the damage to the knee joint, you can also lean sideways when you step down the stairs, holding the stair railings with your hands.

For the elderly, this can also increase the safety factor and prevent falls.

Wearing soft-soled shoes can also have the same effect in the axial direction.

Need to be reminded that middle-aged and older people are best not to climb the stairs to exercise to reduce the damage to the knee joint.

Associate Professor Sun Wei of the Department of Orthopaedics of the China-Japan Friendship Hospital of the Ministry of Health pointed out that increasing the strength of the quadriceps muscle can alleviate the injury to the knee joint. The easiest way is to straighten the legs and raise them when lying down.Keep it for 3-5 seconds, each can do 15-20, and it is better to do 2-3 groups every day.

銆€銆€In addition, strength training is also necessary, lack of strength to practice muscle atrophy, and weaken self-protection.

Lu Yifan suggested that instead of walking, jogging, swimming and other sports that are less likely to hurt the knee joint.