文水| 湘阴| 会同| 海丰| 沁水| 灵山| 敦化| 英山| 田林| 宕昌| 平潭| 大宁| 徽州| 贵定| 绥阳| 咸丰| 榆树| 沙坪坝| 成都| 西吉| 息县| 莲花| 连平| 巴马| 定南| 北流| 荥经| 来凤| 凤县| 通城| 宁乡| 洪雅| 宜良| 洪湖| 临桂| 通榆| 阳西| 邯郸| 福安| 宕昌| 壶关| 淳化| 原阳| 泰顺| 靖州| 尖扎| 达坂城| 肇庆| 深州| 丰南| 南川| 贺州| 巴南| 互助| 宁南| 镇赉| 兰西| 启东| 新和| 呼玛| 平凉| 三穗| 同江| 中宁| 宣威| 安仁| 图们| 石家庄| 通海| 路桥| 博湖| 田阳| 河间| 神农架林区| 山海关| 林州| 威海| 长武| 咸宁| 赣县| 新会| 东平| 开阳| 南江| 上甘岭| 安宁| 布拖| 荥经| 兴仁| 莘县| 龙川| 贡嘎| 白云| 上高| 晋州| 临川| 抚松| 双阳| 延寿| 加格达奇| 巴马| 阆中| 沙县| 永登| 巴林左旗| 鹿泉| 台南市| 高县| 恭城| 贵德| 带岭| 从江| 安泽| 武胜| 陇南| 馆陶| 安岳| 铜山| 柳江| 黄石| 西林| 灌南| 清涧| 左贡| 连平| 什邡| 新竹市| 古浪| 陆丰| 秦安| 通州| 襄樊| 昌宁| 阳谷| 容县| 茂港| 栾城| 馆陶| 北京| 宣威| 梁子湖| 磴口| 新竹县| 吴中| 梁子湖| 巩留| 宽甸| 兴隆| 合山| 罗田| 永吉| 长宁| 江华| 南丹| 南昌县| 孝昌| 延吉| 镇坪| 新城子| 五营| 泉港| 嘉义县| 来安| 贵溪| 德令哈| 洋县| 全州| 定州| 沙圪堵| 贡觉| 绥德| 阿拉尔| 千阳| 伊吾| 高邮| 揭阳| 临洮| 韶山| 息烽| 扎囊| 竹溪| 珠海| 无极| 秀屿| 沙圪堵| 潘集| 崂山| 贵德| 湘潭市| 青河| 江津| 八宿| 黔江| 庄浪| 肃北| 肇东| 廉江| 浦东新区| 吉水| 拉萨| 绍兴市| 安庆| 昌邑| 册亨| 从化| 邹城| 扶绥| 涿鹿| 佛山| 西青| 宁津| 当阳| 沙湾| 鹤庆| 承德县| 绥阳| 定南| 瓯海| 池州| 蒙自| 乌当| 丹江口| 内乡| 攀枝花| 禹州| 福鼎| 平凉| 双峰| 南陵| 牟定| 墨脱| 金乡| 磴口| 雅安| 汨罗| 峨山| 天门| 库车| 德格| 西充| 凉城| 云安| 明水| 察哈尔右翼前旗| 恩平| 平凉| 宜城| 峨眉山| 铜川| 昆明| 神池| 吴忠| 新宾| 道县| 富宁| 洞头| 鹰手营子矿区| 七台河| 涪陵| 理塘| 府谷| 安顺| 澄海|

江苏连云港:春光明媚踏青忙

2019-05-25 13:06 来源:人民经济网

  江苏连云港:春光明媚踏青忙

  SouthKoreaandtheDemocraticPeoplesRepublicofKorea(DPRK)onThursdaystartedgeneral-levelmilitarytalksatthebordervillageofPanmunjomtoeasemilitarytensions,,thefirstofitskindinover10years,(0100GMT)inTongilgak,,asenior-levelof,composedoffivedelegates,omthathewilldiscusswithhisDPRKcounterpartissuesontheeasingofinter-Koreanmilitaryteeinter-Koreanmilitarycommunicationschannel,theregularly-heldmilitarytalksbetweeAnarcheologistworksattheBeitingancientruinsinJimsarCounty,NorthwestChina’builtindifferentperiods,acoinfromtheTangDynasty(618-907),horsebones,armorremainsandotherrelics,mediareportedonMay29.(Photo:ChinaNewsService/MaDejun)AnarcheologistworksattheBeitingancientruinsinJimsarCounty,NorthwestChina’builtindifferentperiods,acoinfromtheTangDynasty(618-907),horsebones,armorremainsandotherrelics,mediareportedonMay29.(Photo:ChinaNewsService/MaDejun)AcoinfromtheTangDynasty(618-907)foundattheBeitingancientruinsinJimsarCounty,NorthwestChina’builtindifferentperiods,acoinfromtheTangDynasty(618-907),horsebones,armorremainsandotherrelics,mediareportedonMay29.(Photo:ChinaNewsService/MaDejun)HorseboneswereexcavatedattheBeitingancientruinsinJimsarCounty,NorthwestChina’builtindifferentperiods,acoinfromtheTangDynasty(618-907),horsebones,armorremainsandotherrelics,mediareportedonMay29.(Photo:ChinaNewsService/MaDejun)AviewoftheexcavationattheBeitingancientruinsinJimsarCounty,NorthwestChina’builtindifferentperiods,acoinfromtheTangDynasty(618-907),horsebones,armorremainsandotherrelics,mediareportedonMay29.(Photo:ChinaNewsService/MaDejun)

MajorLeagueBaseballandTencentHoldingsLimitedhaveformedanewstrateg,aleadingproviderofcomprehensiveInternetServicesinChina,alsowillsupportandbro,Tencentwilllivestream125gamesincludingMLBJewelEventsonanexclusivebasisinthecountryonTencentPC,,TencentsschedulewilllaunchwithSuperBaseballWeek,fiveconsecutivedaysofgamesfeaturingsomeofbaseballstopstarsincludingMikeTrout,FranciscoLindor,KrisBryant,,TencentwilllivestreamregularseasongamesonWednesday,Thursday,SaturdayandSundayaswellastheAll-StarGamepresentedbyMastercard,T-MobileHomeRunDerby,ncludingMLBBest,MLBVideoClipsandaChineseversionofThisWeekinBaseball."Tencenthascontinuedtocollaboratewiththeworldstopsportsleaguessecuringbroadcastrightsforbasketball,soccer,tennis,wintersports,footballandnowbaseball,"saidTencentVicePresidentCaitlynChen."Inrecentyears,baseballhasdevelopedrapidlyinChina,whichwouldnthappenwithoutMLB,withtheadvantageofTencentsproductionandbroadcasting,refinedoperationalexcellenceandpowerfulsocialplatforms,wewillbringtheattentiontoMLBandbaseballinChinatoanewlevel."Aspartofthebroadalliance,TencentwillworkcloselywiththeleaguetohelpgrowbaseballinChinabysupportingandstreamingMLB,abaseballroadsh,TencentwillbroadcasttheMLBrealityshowPerfectPitch,CollegeLeaguegames,theMLBPlayBall!DiamondCupandotherMLBPlayBall!youthevents."AsMLBcontinuestoexpandtheparticipation,viewingandengagementofbaseballinChina,itiscriticaltopartnerwiththebestorganizationsinthecountrytoformmutuallybeneficialco-operations,"saidJimSmall,MLBVicePresident,AsiaPacific."WearethrilledtoteamwithTencent,thelargestandbestdistributorofdigitals,showsandeventsthatTencentwillstreamwillentertainmillionsofsportsfansinChinaandhelpcontinuetogrowthesport."Tencentwillsup,,TencentwilldevelopandhostanMLBFanClubwherefansacrossChinacandiscuss,debateandcelebrateallaspectsofMajorLeagueBaseball.  (CNS),astate-levelnewsagencysponsoredandestablishedbyChinesejournalistsandrenownedoverseasChineseexpertsonOctober1,(),,,includingin-depthcoverage,featurestoriesandvisualcontent,withtopicssuchascurrentevents,art,lifestyle,(CNS)isnotonlyastate-levelnewsagencyspreadingnewsworldwide,butalsoaninternationalnewsagencywithsubscribersinTaiwan,HongKongandMacao,,formervicechairmanoftheStandingCommitteeoftheNationalPeoplesCongress,,therewereothermajorsponsorsandbuilders,suchasJinZhonghua,HuYuzhi,,awell-knownexpertoninternationalissues,,CNSwastheInternationalNewsService,,adatabaseofinforma(includingwritings,photosandspecialarticles)andamodernmethodofreporting(mainlythroughinternet,videosandSMS)providedtooverse,,HongKongandMacao,aswellasbranchesorreportstationsinTokyo,Bangkok,KualaLumpur,NewYork,Washington,LosAngeles,SanFrancisco,Vancouver,London,Paris,,andnewsreleasecentershavebeenestablishedinBeijing,,multi-levelandmulti-functionnewsreleasesystem,CNSprovidesallkindsofnewsandinformation,’,,1999,theheadquartersofCNSlauncheditsofficialwebsite,namedChinanews().ChinanewsisconsideredoneofChina’smostimportantonlinenewssources.

  AStarbuckslogoispicturedinManhattan,NewYork,theUnitedStates,May29,,000company-ownedstoresintheUnitedStatesonTuesdayafternoontooffernearly175,000employeesamandatoryanti-biastraining.(Xinhua/LiMuzi)PeoplewalkintoaStarbucksstoreinManhattan,NewYork,theUnitedStates,May29,,000company-ownedstoresintheUnitedStatesonTuesdayafternoontooffernearly175,000employeesamandatoryanti-biastraining.(Xinhua/LiMuzi)AStarbuckslogoispicturedinManhattan,NewYork,theUnitedStates,May29,,000company-ownedstoresintheUnitedStatesonTuesdayafternoontooffernearly175,000employeesamandatoryanti-biastraining.(Xinhua/LiMuzi)AStarbuckslogoispicturedinManhattan,NewYork,theUnitedStates,May29,,000company-ownedstoresintheUnitedStatesonTuesdayafternoontooffernearly175,000employeesamandatoryanti-biastraining.(Xinhua/LiMuzi)AnoticeisseenataclosedStarbucksstoreinManhattan,NewYork,theUnitedStates,May29,,000company-ownedstoresintheUnitedStatesonTuesdayafternoontooffernearly175,000employeesamandatoryanti-biastraining.(Xinhua/LiMuzi)Chineseuniversitiesshouldenhancelibrarystudiestobuildscienceandtechnologymajorssoftpower,suggestsZengYong,amemberofthe13thNationalCommitteeoftheChinesePoliticalConsultativeConference,,alsovice-presidentoftheUniversityofElectronicScienceandTechnologyofChina,toldChinaDailywebsitethathehadnoticedmostgraduatesmighthave"goodenough"skills,whichcomposedtheir"hardpower",butthereisagapbetweenthemandtop-levelinnovators."Chinastilllacksleadinginnovativetalentsinmanydisciplines,",includingChineseandWesternphilosophies,comprise13creditsnow,accountingforaboutone-tenthoftheentirecreditsneededforascienceandtechnologymajortograduatefromhisuniversity,saidZeng,,Zengalsomadeaformalproposalonenhan,whichisstillnotpartofthecompulsoryeducation,isespeciallyimportantforreducingpoverty."Educationisthelong-termmechanismforliftingpeopleoutofpoverty,aswecouldseemoreandmorepeoplehavebecomebetteroffafterreceivinghighereducation,"Zengsaid."However,therearestilldifficultiesforethnicminoritystudentstodoverywellatcollegeastheyhavenotreceivedgoodbasiceducationbeforeenteringuniversities,especiallybilingualeducation,"ucationinethnicminorityregions,lawmakersshouldincludesucheducationinthecompulsoryeducation,andthecentralgovernmentshouldsupporttheseregionsfinanciallysothattheycouldenhanceteacherscapabilities.  

  PeopleareseenontheLingyunduglasstrestleintheXuedouMountaininNingboCity,eastChinasZhejiangProvince,May26,(Xinhua/ZhangPeijian)PeoplewalkontheLingyunduglasstrestleintheXuedouMountaininNingboCity,eastChinasZhejiangProvince,May26,(Xinhua/ZhangPeijian)PeoplelookdownthecliffthroughtheLingyunduglasstrestleintheXuedouMountaininNingboCity,eastChinasZhejiangProvince,May26,(Xinhua/ZhangPeijian)PeopleposeforphotosontheLingyunduglasstrestleintheXuedouMountaininNingboCity,eastChinasZhejiangProvince,May26,(Xinhua/ZhangPeijian)ClamsareseenonabankoftheSonghuaRiverinHarbinCity,NortheastChina’sHeilongjiangProvince,May24,ntin11years.(Photo/IC)ClamsareseenonabankoftheSonghuaRiverinHarbinCity,NortheastChina’sHeilongjiangProvince,May24,ntin11years.(Photo/IC)ClamsareseenonabankoftheSonghuaRiverinHarbinCity,NortheastChina’sHeilongjiangProvince,May24,ntin11years.(Photo/IC)ClamsareseenonabankoftheSonghuaRiverinHarbinCity,NortheastChina’sHeilongjiangProvince,May24,ntin11years.(Photo/IC)

AChineseteamofscientistshasestablishedapigmodelofHuntingtonsdisease(HD),aninheritedneurodegenerativedisease,,researchersanticipatedthatthepigscouldbeapracticalwaytotesttreatmentsforHD,whigenerativediseases,theylackthetypicalneurodegenerationorovertneuronallossseeninhumanbrains,accordingtocorrespondingauthorLiXiaojiang,professorofhumangeneticsinJinanUniversityandwhorunsalabatEmoryUniversitySchoolofMedicine.(Photo/VCG)

  Ablue-throatedbee-eaterfliesatHoulouVillage,YangzhongTown,YouxiCounty,southeastChinasFujianProvince,May25,2018.(Xinhua/MeiYongcun)Blue-throatedbee-eatersperchonabranchatHoulouVillage,YangzhongTown,YouxiCounty,southeastChinasFujianProvince,May25,2018.(Xinhua/MeiYongcun)Blue-throatedbee-eatersperchonabranchinLuxiaTown,NanpingCity,southeastChinasFujianProvince,May25,2018.(Xinhua/MeiYongcun)Blue-throatedbee-eaterssportatHoulouVillage,YangzhongTown,YouxiCounty,southeastChinasFujianProvince,May28,2018.(Xinhua/MeiYongcun)Ablue-throatedbee-eaterfliesinLuxiaTown,NanpingCity,southeastChinasFujianProvince,May25,2018.(Xinhua/MeiYongcun)Ablue-throatedbee-eaterfliesatHoulouVillage,YangzhongTown,YouxiCounty,southeastChinasFujianProvince,May25,2018.(Xinhua/MeiYongcun)Blue-throatedbee-eatersperchonabranchinLuxiaTown,NanpingCity,southeastChinasFujianProvince,May25,2018.(Xinhua/MeiYongcun)Blue-throatedbee-eatersperchonabranchinLuxiaTown,NanpingCity,southeastChinasFujianProvince,May25,2018.(Xinhua/MeiYongcun)Ablue-throatedbee-eaterforagesatHoulouVillage,YangzhongTown,YouxiCounty,southeastChinasFujianProvince,May25,2018.(Xinhua/MeiYongcun)

  PeopledressedincostumesposeforaphotoattheMCMComicConattheExCelcenterinLondon,Britain,onMay27,,attactinglotsofcomicfanstothepopularculturegathering.(Xinhua/TimIreland)PeopledressedincostumesposeforaphotoattheMCMComicConattheExCelcenterinLondon,Britain,onMay27,,attactinglotsofcomicfanstothepopularculturegathering.(Xinhua/TimIreland)PeopledressedincostumesposeforaphotoattheMCMComicConattheExCelcenterinLondon,Britain,onMay27,,attactinglotsofcomicfanstothepopularculturegathering.(Xinhua/TimIreland)PeopledressedincostumesareseenattheMCMComicConattheExCelcenterinLondon,Britain,onMay27,,attactinglotsofcomicfanstothepopularculturegathering.(Xinhua/TimIreland)Sevenpeople,includingfourchildren,havebeenshotdeadintheearlyhoursofFridaymorning,neartheMargaretRiverarea,alledtoapropertyinasmalltowncalledOsmingtonat05:15(AWST),weretheymadethegruesomediscovery."Thelossofanylifeistragic,fourchildrenandthreeadults,thisisasignificanttragedy,"hesaid."ItappearsthatgunshotwoundsaretherebutIdontwanttogofurtherthanthatastwofirearmshavebeenlocatedatthescene."Atthisstage,nofurtherdetailsabouttheidentityofthevictimshavebeenreleased,sHomicideSquadandForensicCrimeSceneUnitbelievethetragicincidentislikelytobeamurder-suicide,makingittheworstmassshootinginAustraliasince1996,whenagunmankilled35inthePortArthurMassacre.  

  PhototakenonMay21,2018showstheXiaoxiangRiverinQujing,southwestChinantyears.(Xinhua/YangZongyou)AworkercleanswastesontheXiaoxiangRiverinQujing,southwestChinasYunnanProvince,May21,ntyears.(Xinhua/YangZongyou)WorkerscleanwastesonthebankoftheXiaoxiangRiverinQujing,southwestChinasYunnanProvince,May21,ntyears.(Xinhua/YangZongyou)PeopleenjoyleisuretimeonthebankoftheXiaoxiangRiverinQujing,southwestChinasYunnanProvince,May21,ntyears.(Xinhua/YangZongyou)PhototakenonMay21,2018showsthegreenplantsonthebankoftheXiaoxiangRiverinQujing,southwestChinantyears.(Xinhua/YangZongyou)PhototakenonMay21,2018showstheXiaoxiangRiverinQujing,southwestChinantyears.(Xinhua/YangZongyou)

  Postersfortheevent"ChinaWeek:InheritanceandInnovation"()Amongtheitemstobeseenat"ChinaWeek:InheritanceandInnovation"are(clockwisefromleft)alightpinkglazedvase,acircularfanthemedontheancientpaintingAPanoramaofRiversandMountainsanddecorativetapesadornedwithcranepatternsfromthePalaceMuseum.()Chinesedesigns,exchangeactivitiesbetweeninstitutionsandenterprisesinthefieldsofculturalcreativei,fChinesec,covering12categoriesofpaintingandcalligraphy,jewelry,garments,timepiecesandstationery,,includingSingapore,Australia,Thailand,SouthKorea,BeninandBelgium,andthrelproducts,andtheSilkRoadMemory---NICEChoiceCulturalCreativeExhibitionwillbeheldattheNICEgalleryinBeijingfromTuesdaytoMay27.MajorLeagueBaseballandTencentHoldingsLimitedhaveformedanewstrateg,aleadingproviderofcomprehensiveInternetServicesinChina,alsowillsupportandbro,Tencentwilllivestream125gamesincludingMLBJewelEventsonanexclusivebasisinthecountryonTencentPC,,TencentsschedulewilllaunchwithSuperBaseballWeek,fiveconsecutivedaysofgamesfeaturingsomeofbaseballstopstarsincludingMikeTrout,FranciscoLindor,KrisBryant,,TencentwilllivestreamregularseasongamesonWednesday,Thursday,SaturdayandSundayaswellastheAll-StarGamepresentedbyMastercard,T-MobileHomeRunDerby,ncludingMLBBest,MLBVideoClipsandaChineseversionofThisWeekinBaseball."Tencenthascontinuedtocollaboratewiththeworldstopsportsleaguessecuringbroadcastrightsforbasketball,soccer,tennis,wintersports,footballandnowbaseball,"saidTencentVicePresidentCaitlynChen."Inrecentyears,baseballhasdevelopedrapidlyinChina,whichwouldnthappenwithoutMLB,withtheadvantageofTencentsproductionandbroadcasting,refinedoperationalexcellenceandpowerfulsocialplatforms,wewillbringtheattentiontoMLBandbaseballinChinatoanewlevel."Aspartofthebroadalliance,TencentwillworkcloselywiththeleaguetohelpgrowbaseballinChinabysupportingandstreamingMLB,abaseballroadsh,TencentwillbroadcasttheMLBrealityshowPerfectPitch,CollegeLeaguegames,theMLBPlayBall!DiamondCupandotherMLBPlayBall!youthevents."AsMLBcontinuestoexpandtheparticipation,viewingandengagementofbaseballinChina,itiscriticaltopartnerwiththebestorganizationsinthecountrytoformmutuallybeneficialco-operations,"saidJimSmall,MLBVicePresident,AsiaPacific."WearethrilledtoteamwithTencent,thelargestandbestdistributorofdigitals,showsandeventsthatTencentwillstreamwillentertainmillionsofsportsfansinChinaandhelpcontinuetogrowthesport."Tencentwillsup,,TencentwilldevelopandhostanMLBFanClubwherefansacrossChinacandiscuss,debateandcelebrateallaspectsofMajorLeagueBaseball.  

  PhototakenonMay28,2018showsrubblesofacollapsedwallinquake-hitYamutuVillageofSongyuanCity,northeastChina,SongyuanCityofJilinProvinceinearlyMondaymorning.(Xinhua/ZhangNan)PhototakenonMay28,2018showsadamagedhouseatquake-hitYamutuVillageofSongyuanCity,northeastChina,SongyuanCityofJilinProvinceinearlyMondaymorning.(Xinhua/ZhangNan)Rescuersworkatquake-hitYamutuVillageofSongyuanCity,northeastChinasJilinProvince,May28,,SongyuanCityofJilinProvinceinearlyMondaymorning.(Xinhua/ZhangNan)PhototakenonMay28,2018showsadamagedhouseatquake-hitYamutuVillageofSongyuanCity,northeastChina,SongyuanCityofJilinProvinceinearlyMondaymorning.(Xinhua/ZhangNan)

  Butitsimportantnottooverlooklonelinessassomethingthatcanbedetrimentaltobothourpsychologicalandphysicalwell-beingtoo.不过,不要忽视孤独对我们身心的危害也很重要。

  AcalligraphyworkbyLiBaifromtheTangDynasty(618-907),whowasoneofthegreatestpoetsinChinesehistory,attractsplentyofattentionduringanexhibitionheldtomarkthe120thanniversaryofthebirthofZhangBojuattheHallofMartialValorintheForbiddenCity,Beijing,April2,(1898-1982)wasafa,Zhangdonatedhisworkstothecountry,andtheyarenowkeptattheForbiddenCity(PalaceMuseum)hework,ctedbythePalaceMuseum.(Photo:ChinaNewsService/Duyang)YanJingshuposesforphotoinfrontoftheancientbookrestorationcenterofZhejiangLibraryinHangzhou,eastChinasZhejiangProvince,May23,,55,hasworkedintheientbooks.(Xinhua/WengXinyang)YanJingshurestoresanancientbookatZhejiangLibraryinHangzhou,eastChinasZhejiangProvince,May23,,55,hasworkedintheientbooks.(Xinhua/WengXinyang)YanJingshushowsanancientbookunderrestorationatZhejiangLibraryinHangzhou,eastChinasZhejiangProvince,May23,,55,hasworkedintheientbooks.(Xinhua/WengXinyang)YanJingshurestoresanancientbookatZhejiangLibraryinHangzhou,eastChinasZhejiangProvince,May23,,55,hasworkedintheientbooks.(Xinhua/WengXinyang)YanJingshuplanishesanancientbookafterrestorationatZhejiangLibraryinHangzhou,eastChinasZhejiangProvince,May23,,55,hasworkedintheientbooks.(Xinhua/WengXinyang)YanJingshuplanishesanancientbookafterrestorationatZhejiangLibraryinHangzhou,eastChinasZhejiangProvince,May23,,55,hasworkedintheientbooks.(Xinhua/WengXinyang)YanJingshu(R)instructsanapprenticeinancientbookrestorationatZhejiangLibraryinHangzhou,eastChinasZhejiangProvince,May23,,55,hasworkedintheientbooks.(Xinhua/WengXinyang)YanJingshurestoresanancientbookatZhejiangLibraryinHangzhou,eastChinasZhejiangProvince,May23,,55,hasworkedintheientbooks.(Xinhua/WengXinyang)YanJingshudyesrestorationpaperatZhejiangLibraryinHangzhou,eastChinasZhejiangProvince,May23,,55,hasworkedintheientbooks.(Xinhua/WengXinyang)YanJingshuselectsrestorationpaperatZhejiangLibraryinHangzhou,eastChinasZhejiangProvince,May23,,55,hasworkedintheientbooks.(Xinhua/WengXinyang)YanJingshurestoresanancientbookatZhejiangLibraryinHangzhou,eastChinasZhejiangProvince,May23,,55,hasworkedintheientbooks.(Xinhua/WengXinyang)PhototakenonMay23,2018showsrestorationpapernotebooksatanancientbookrestorationcenterofZhejiangLibraryinHangzhou,eastChina,55,hasworkedintheientbooks.(Xinhua/WengXinyang)

  

  江苏连云港:春光明媚踏青忙

 
责编:

提前两月偿还562亿永续债 恒大业绩大涨获花旗上调目标价

 5月5日傍晚,花旗银行发布研究报告称,2017年将是中国恒大(0333.hk)收获之年,同时将该公司目标价上调到10港元。

就在前一天,恒大发布月度公告称,已赎回50%永续债,金额为561.8亿元,全年将赎回70%永续债。公告同时显示,恒大4月销售378.5亿,前4月累计销售1447.8亿,同比增长63.17%。

事实上,从3月开始,随着监管收紧以及金融“去杠杆”政策的逐步推进,市场资金面持续紧张。包括万科、金地在内的龙头房企,不得不先后取消了债券融资计划。此时,恒大却选择一掷千金,提前赎回永续债,原因何在?

债务结构获调整

5月4日的公告显示,恒大提前两个月完成了永续债的赎回。今年3月28日年报新闻发布会上,恒大总裁夏海钧曾表示计划于今年上半年赎回50%的永续债,全年赎回70%。仅仅一个多月后,恒大就宣布完成赎回,其资本运作能力可见一斑。

近期,不少房企都陷入融资难题中。4月27日,万科宣布取消15亿债券的发行。当月宣布取消融资计划的房企还包括金融街、金地、电建地产等等。市场人士认为,主因正是“近期货币操作持续保持稳定中性,市场预期资金面可能持续紧张”。因而推动了债券发行成本的一再上升,资料显示,今年4月债券的票面利率比去年同期上涨了近20%。

此前评级机构野村国际认为,正是恒大此前一系列资本运作,“使其负债比率显著改善”,公司有实力提前处理永续债难题。

今年3月,在资金面充裕的窗口期,恒大成功发行了三笔合共25亿美元债券,提前做好了债务规划,同时负债利率也有所下降。其中上述三年期债券的票面利率仅为7%,而恒大2015年发行的美元优先票据,年利率为12%。显然,此次再融资降低了恒大的融资成本。其实从去年开始恒大已经有计划降低融资成本,2016年年报显示,恒大的融资成本为7.78%,同比下降了0.64个百分点。

除此之外,今年1月,恒大与8家战略投资者签订了增资协议,成功引入了300亿的战略投资。野村国际认为,这将使公司的净负债率大幅下降。

这一系列资本运作,让恒大成功避开了这波流动性趋紧的局面。融创孙宏斌早前就表示,现在“多借点钱,最好借的时间长一点,可以穿越周期”。但真正能像恒大这样成功在窗口期结束前,调整债务结构的房企却并不多。

花旗预计,恒大“赎回高额永续债,并且引入总额600亿的战略投资”,将使恒大2017年上半年取得良好业绩。

盈利能力有望提升

成功的资本运作背后是恒大不断提升的运营能力。今年以来,在房地产调控强化的背景下,恒大业绩表现仍保持突出,1至4月,公司累计销售1447.8亿元,同比增长63.17%,远高于同期行业平均增长率。

此外,今年恒大的毛利率将有所改善。根据恒大今年公告披露的相关数据,恒大1-2月的销售均价为9113元/平方米,同比增长5.5%,其后3、4月的销售均价逐月提升。

花旗的研究报告显示,“盈利上升、新一轮引战”都将成功推动恒大回A。其认为随着A-H估值差异的收窄,2017年将是恒大股票的收益之年。

有分析人士认为,“土地储备的结构也是恒大盈利能力提升的最大保证”,年报显示公司土地储备达2.29亿平方米,其中一二线城市占比达74.7%,平均楼面地价仅为1570元/平方米。世邦魏理仕的研究报告显示,这些土地的估值已经上升到7005亿。研究机构惠誉也认为,“一二线城市土地储备的增加,可以减少楼市波动带来的影响”,有助于提升恒大的盈利能力。

与庞大土储相对应的,是恒大现金为王的战略。年报显示恒大2016年底持有3043亿元的现金,远高于同规模房企。上市以来,恒大一直强调“现金”的重要性,现金余额年复合增长率达到54.7%,2015年现金余额同比增长175.7%,2016年同比增长85.5%。

充足的现金流让恒大有着足够打动投资者的偿债能力。“信用记录良好,也让投资者乐于投资恒大”。据了解,恒大成立至今从未发生过一笔债务违约,即使2008年金融危机时也无任何逾期债务。分析认为,这也有助于恒大下一步的资本运作。

责任编辑: 邵振彤
有点悬 何树背 磨子山 万石植物园 庄桥
凤毛寨 句容市下蜀茶场 三友化工厂 下符桥镇 白音昌图嘎查