I have not dared to write articles about the Hexi Corridor and Dunhuang, because I know that I must not write well. Now because of the epidemic, I dare not go out, so I miss the desert smoke in the northwest and the sunset of the long river. At the same time, I am glad that I have been there before the epidemic - as long as there are one or two good things, memories can be brewed into wine.
At that time, we set off from Xining, Qinghai, passed through Qinghai Lake and Emerald Lake to Shuiyadan, then went through the cliffs to Dunhuang and Zhangye, and on the return trip, we also went to Menyuan to see rape flowers. Before I left Xining, I went to Lanzhou, I went to Ningxia at the end of September, and on the 15th day after I came back, the new crown epidemic spread to Ningxia.
Some people say that education is what a person has left after he has forgotten what he has learned in school;
Personally, I think that when we go out to play, we don't have to deliberately pursue anything, and those things that we remember by chance are the most precious things we leave behind after we have walked through that journey.
In the past six months, my way of thinking has improved twice (let's call it ascension), one is to pay attention to common sense, and the other is to fear nature. These are all changes that happen quietly in the process of hanging out.
<h1 class="pgc-h-arrow-right" data-track="3" >, the profession of researcher, naturally makes us love life</h1>
Originally, when I went out to play, I could see condiment shelves in supermarkets wherever I was, but when I was in Xining Ping'an Yi, I visited several supermarkets in a row, and there was no soy sauce for sale, and then I finally found the shadow of soy sauce and vinegar in the rice noodle grain and oil store.
Later, when I arrived near the Taal Temple in Huangyuan County, the situation was the same, except for Hualian Supermarket, which is the largest supermarket in the local area, there are very few supermarkets where you can see soy sauce. I really can't understand, don't the locals eat soy sauce? At the same time, a new analytical idea popped up in my head.
Even if the ability of Haitian Flavor Industry to shop is strong, what if the locals have never had soy sauce in their eating habits? So, what are the factors that affect people's eating habits? In the future, when analyzing condiment companies, should we also consider from the demand side and analyze whether locals are used to eating soy sauce?
On the morning before leaving, I asked the landlord aunt why the taste of breakfast was so light, and I didn't put soy sauce when cooking. The aunt replied that putting soy sauce, mainly for coloring, is not much.
Later, when I came to Dachaidan, I asked the same question in the supermarket, why there are so few supermarkets selling soy sauce here, and everyone eats soy sauce or not.
The response I got was:
Outsiders come to Dachaidan to open a supermarket, mainly selling things that tourists will buy when they arrive here; she is a local, so she will sell some goods used by locals. They eat soy sauce, and they eat Haitian soy sauce a lot.
And then elsewhere, I'll get different answers to different questions because each place has different characteristics.
That's the joy of being a researcher. There will always be unknown things waiting for you, and there will always be a hundred thousand whys waiting for you to find the answer. It is not that the job of researcher lacks fun, but that we lack the awareness and ability to combine research work with life.
The picture below is a casual photo taken on the streets of Dunhuang.
Guess which company in this seasoning wholesale department has the most products?
<h1 class="pgc-h-arrow-right" data-track="5" >2, from dismantling ROE to the recent price increase</h1>
At the end of June, after the book was delivered, I went to the northwest, and at that time, I felt that after writing the book, my thinking was more systematic and went deeper into a dimension. For example, when dismantling the return on net assets, it can be disassembled to the third layer; when analyzing Gree Electrical Appliances, it is no longer the same as before, knowing that the decline in the return on net assets is because the net interest rate has fallen, it will no longer continue to analyze, and only stay in a few financial indicators to play the number game.
I will continue to disassemble, knowing that it is because the cost growth rate of Gree air conditioners is greater than the growth rate of revenue, and the backlog of products in inventory cannot be sold. Therefore, when analyzing Gree electrical appliances in the future, one is to pay attention to the changes in the cost of air conditioners, but to look at the changes in air conditioning sales, rather than applying those financial indicators, what profitability indicators, turnover capacity indicators, return on net assets, it looks like a serious financial analysis, in fact, they are people who do not understand.
Now looking at the picture above, I think of spinach for more than a dozen dollars a pound, and the price increase that penetrates into all aspects of society.
Gree Electric Appliance mentioned in the semi-annual report:
In terms of domestic sales of air conditioners, affected by multiple factors such as slower weather heating up in many parts of the country, rising raw material prices and less than expected real estate completions, the overall terminal demand of the air conditioning industry is weak, and although domestic sales in the first half of 2021 increased by 11.98% year-on-year, they fell by 15.63% compared with the same period in 2019.
Hengrui Pharmaceutical also mentioned the rise in labor costs and raw material costs in this year's semi-annual report;
Haitian Flavor raised the price of its products half a month ago, one of the reasons is also the rise in raw material costs.
One of the reasons for the decrease in the gross profit margin of Haitian Flavor Industry is the rising cost of soybeans; soybeans are commodities, and factors affecting soybean prices include climate change, market supply and demand, imports and exports and other factors.
Thus, between rising raw material costs and financial data, we can make a connection;
When we dismantle ROE, we think of the rise in the price of bulk raw materials, so we will continue to think: what factors lead to the rise in the price of bulk raw materials?
How has rising diesel prices helped fuel vegetable prices?
What role has the pandemic played in the rise in coal prices?
The world is universally connected, and each of us has been affected by the pandemic, large or small.
The climate change we are experiencing, COVID-19 and other commonplace things in life can all be linked to the performance of the companies we analyze. Therefore, the analysis of the enterprise has become a way for us to perceive the world and feel life, and the best state is that "after recognizing the truth of life, we still love life."
<h1 class="pgc-h-arrow-right" data-track="7" > third, pay attention to common sense, but also fear nature</h1>
Yesterday morning, lightning appeared outside the window at six o'clock in the morning, and I thought it was an illusion, after all, it was about to enter winter.
Then, lightning and thunder, rain and wind followed, like a rushing heavy rain in the summer afternoon.
Even with weather forecasts, it's hard to predict which direction the wind will blow in the next moment;
Even if we know that the moon is cloudy and sunny, it is difficult to predict which clouds will float over in the next second to chase the moon, or there may be no clouds that will float over.
Our common sense is accumulated in the process of understanding nature, and at the same time, these common sense tells us that we must respect nature.
Many people have seen the Yadan landform.
We walked through the desert, and the earth blocks that had been formed by the vicissitudes of the sea and the mulberry fields waited like soldiers in a line, waiting for people to review. With a gentle touch, the soil will break down into powder.
If we know the reasons for the formation of the Yadan landform, we will understand that the soil blocks are precious, and they have changed over hundreds of millions of years to become what they are today. What we crush with our hands is not a seemingly inconspicuous piece of earth, but a gift precipitated by nature in the long river of history. And in this lifetime, it is very good that we can have a hundred years of existence.
Many people have been to Dunhuang.
Dunhuang is an oasis in the desert, Mingsha Mountain is on the back of Dunhuang, but where the sand of Mingsha Mountain blows to Dunhuang, there will be no Mogao Grottoes, let alone the splendid civilization of thousands of years. Of course, if there were no Qilian Mountains and no water from the Dang River, there would be no Dunhuang.
When we do the analysis, we may pay too much attention to the growth of GDP and the growth of enterprises, but we do not think that if there is no suitable climate, no nourishment of rivers, and no livable terrain, there will be no human activities, let alone industrial civilization.
Reverence, gratitude to nature, understanding the objective world, and acting according to the law may be an eternal proposition.
As a small researcher, it is natural to observe these things.
The picture below is a follow-up photo under dunhuang Mingsha Mountain
<h1 class="pgc-h-arrow-right" data-track="11" > the emphasis at the end of the article:</h1>
<h1 class="pgc-h-arrow-right" data-track="12" > Xiaobei read the financial report and take you to choose a white horse. </h1>
<h1 class="pgc-h-arrow-right" data-track="9" > allows everyone to learn financial analysis and find White Horse stocks. </h1>
<h1 class="pgc-h-arrow-right" data-track="10" > pay attention to the public account "Xiaobei Reading Financial Report", we grow together! </h1>