Xugong Machinery (000425): Interim profit doubled, operating net cash flow hits record high, and hits record high

Xugong Machinery (000425): Interim profit doubled, operating net cash flow hits record high, and hits record high

Investment Highlights: Event: The company’s 1H19 revenue was 311.

5.6 billion, an annual increase of 30%, net profit attributed to the mother22.

8.3 billion, an increase of 107% in ten years, net of non-attributed net profit 21.

79 ‰, an increase of 116% in ten years, and a gross profit margin of 18.

3%, an increase of 1 per year.

0ppt, net interest rate 7.

3%, an increase of 2 per year.

7ppt, net operating cash flow 28.

4.1 billion, a record high over the same period.

1H19’s main business segment cranes / scrapers / pile machinery / fire-fighting machinery revenue growth rates were 34% / 12% / 45% / 59%.

  The gross profit margin of the crane sector increased, maintaining the leading position.

1H19’s crane business achieved revenue 114.

78 ‰, an increase of 34% in ten years, the gross profit margin of the crane business is 24.

9%, an increase of 3 per year.


  We believe that the improvement in the gross profit margin of the crane business is mainly due to the high growth in sales revenue. If the crane sales increase steadily in the second half of the year, the gross profit margin of the business will help maintain stability.

In addition, 1H19’s multiple crane products maintain the leading position, among which the mobile crane market share ranks first in the world. It has replaced half of the country in the domestic 100-ton large-ton mobile crane market, and the large-ton crane has an absolute leading position in the industry.The market share of casual truck cranes has historically reached a high level of over 60%.

  Asset quality has been consolidated, and overseas and emerging businesses have advanced in an orderly manner.

1H19 company accrued credit impairment losses7.

RMB 340,000 (increased in accounts receivable and changes in accounting policies), asset impairment losses1.

5.3 billion, a total of about 8.

8.7 billion.

We believe that the company’s substantial provision in the first 杭州夜生活网 half of the year is conducive to consolidating the quality of assets. Considering that the company’s net operating cash flow has created a record high for the same period, we expect the quality of the company’s remaining operating debt (such as accounts receivable) to improve or improve.
In 1H19, the company’s emerging business has progressed in an orderly manner. The company’s environmental compartment removable garbage truck market share ranks first in the domestic domestic industry, and the market share of road sweepers and scrubbers ranks among the top three domestic domestic companies; the first half of aerial work vehiclesThe gap between the market share and the number one in China has narrowed, and we are sprinting towards the number one in the industry.

At the same time, the company’s overseas revenue in 1H19 reached 44.

4.8 billion yuan, an annual increase of 20%.

According to the company’s semi-annual report, citing customs statistics, the export scale of the Xugong brand and its own exports both ranked first in the industry.

  Ratings and estimates.

We expect the company’s EPS to be zero in 19-21.



65 yuan.

The average 19-year estimated PB of construction machinery comparable companies is 1.

5 times, we think the company’s 19-year reasonable PB estimate interval is 1.


4 times, corresponding to 4 BPS.

33 yuan, the reasonable value range is 5.

20 yuan-6.06 yuan, “continuous market” rating.

  risk warning.

Macroeconomic downturn, crane recovery, inventory machine disposal risks.

Jin Chengxin (603979): Growth in overseas projects is worth looking forward to

Jin Chengxin (603979): Growth in overseas projects is worth looking forward to
Event: According to the announcement, Gold Credit Columbia Gold recently entered into a project contract with Kakula Underground Development of the Kamoa Copper Mine in Congo and the owner Kamoa Copper SA.The contract is expected to run from March 21, 2019 to December 12, 2023; the total contract price is approximately USD 287,946,769; the estimated time is June 7, 2019. Large overseas orders are coming to the next city, further highlighting the company’s strength in overseas large-scale mine construction services. The company has been engaged in mining construction and mining operations for many years, and has gone abroad to serve large-scale foreign mines for 16 years. According to the company ‘s announcement, since 2003, it has undertaken the mining operation management of the Chambishi copper mine in Zambia.Development service project, started to serve Zambia’s KCM copper project in 2012; started to serve Zambia’s Chibluma company’s Chibluma project and Zippu project; in 2017, it started to serve Zambia’s Lubabe copper mine project and Congo Golden Kamoa copperMining project; Beginning of service for Luanshabaruba copper mine in Zambia in 2018; Beginning of service for Zijin Mining Serbia Timok copper-gold mine in 2019.The contract announced this time is a continuation project after the acceptance of the slope engineering of the Kamoa Copper Mine in Zambia in 2017. The amount is equivalent to approximately RMB 2 billion, which is the second largest order announced by the company since its listing. We believe that the continuation of the underground pioneer project contract has proved the company’s service strength in overseas mine construction; accordingly, since Jinchengcheng and Zijin Mining signed a strategic cooperation agreement in the field of mine service and development, the project continued from the project.It also indicates that the company is expected to undertake the Kamoa copper mining operation in the future and obtain more orders. There are sufficient orders in hand, and the proportion of overseas business continues to increase, ensuring stable growth in performance.According to the announcement and our calculations, the company’s daily operating contracts have increased steadily. In 2019, uncompleted orders in hand exceeded 9 billion yuan, about three times the main operating income in 2018, of which overseas orders accounted for about 61%.The large internal market is developing at a rapid pace, and the African blue ocean market has been actively explored. Since 2017, the total value of overseas contracts has reached approximately 7.7 billion yuan, and it has continued to present a rapid growth trend, with its business focus constantly shifting outward. The successful delivery of phosphate ore marks the beginning of the company’s “mining resources development sector”.According to the announcement, the company signed a formal phosphate rock ownership distribution agreement (90% of the shares) on May 23, and announced on June 13 that it had obtained a phosphate rock business license, marking the company’s formal takeover of phosphate rock development.According to the announcement, the amount of phosphate rock resources is 2133 samples and the grade is 32.46%, the planned production capacity is 80 years / year, and the mining period is more than 15 years. Construction is expected to start in early 2020, with a total investment of about 6.800 million, 杭州桑拿网 with an average annual net profit of about 60 million yuan. Maintain “Buy-A” investment rating with 6-month target price of 13.93 yuan.We expect the company’s net profit attributable to mothers to enter into an accelerated period from 2019 to 2021, respectively.100 million, 5.800 million and 7.700 million.The corresponding EPS are 0.70 yuan, 1.00 yuan and 1.32 yuan.Focusing on the company’s outstanding growth, it is expected to benefit from the promotion of the Belt and Road Initiative, and has realized the transformation to a mining operator, further improving performance flexibility, and giving 20xPE in 2019 with a 6-month target price of 13.93 yuan. Risk reminders: 1) The global mining capital expansion is less than expected; 2) The company’s acquisition of mines is less than expected; 3) Political risks occur in countries 杭州桑拿网 where overseas projects are located

Ordinary people (603883): The flagship store ‘s performance is in line with expectations

Ordinary people (603883): The flagship store ‘s performance is in line with expectations
The event company released the third quarter of 2019 report. The company achieved operating income in the first three quarters of 2019. The net profit attributable to the parent and the net profit after deduction were 83.7 billion, 3.9.4 billion and 3.7.3 billion, an increase of 23 each year.59%, 21.44% and 20.62%, achieving the expected return1.38 yuan, on the one hand operating cash flow2.47 yuan, in line with our Air Force expectations. The performance of the brief evaluation maintained a rapid growth, and the expansion rate was in line with the expected Q3 single quarter, and the company achieved operating income of 28.36 ppm, an increase of 21 in ten years.48%, net profit attributable to mother 1.24 ppm, an increase of 20 in ten years.07%, deducting non-attributed net profit1.17 ppm, an increase of 22 in ten years.50%, the company’s performance continued to maintain a rapid growth of more than 20%, healthy operating conditions.The company’s Q3 single-quarter performance growth rate decreased slightly from the previous quarter, mainly due to a high base in the same period last year and a slight tightening of medical insurance policies in some regions. As of the end of the third quarter of 2019, the company had 4,808 stores, including 3,756 directly-operated stores and 1,052 franchised stores.In the first three quarters of 2019, the company added 536 directly-operated and merged stores, including 389 directly-operated stores and 147 merged stores. Due to the company’s development planning and business strategic adjustments, 69 stores were closed.We believe: 1) In the first three quarters, the company net increased 467 directly-operated stores and 477 franchised stores, and the store expansion progress was in line with expectations; 2) In September, it acquired 51% equity of Shanxi Huaqiang Parkway Pharmaceutical Chain Company, and its retail business involved storesMore than 80 homes are expected to be completed within the year. Flagship store floor efficiency rebounds, prescription outflows increase operating efficiency, and the company’s expansion has accelerated since 2018 (concentrated in small and medium stores and large stores). As new stores are still in the incubation period and M & A stores are gradually integrated, lowering the overall daily average flooreffect.As of the third quarter of 2019, the company’s flagship stores, large stores, small and medium-sized stores, and comprehensive daily average flooring efficiency were 135, 69, 39, and 50 yuan / square meter, respectively.The improvement of operating efficiency is related to the fact that the rest of 武汉夜网论坛 the store flooring and comprehensive flooring are slightly reduced due to expansion, which is basically normal. The increase in the proportion of prescription drugs affects the gross profit margin. The remaining financial indicators are basically normal. In the first three quarters of 2019, the company’s comprehensive gross profit margin was 33.89%, a decrease of 1 per year.The 67 singles were mainly due to the increase in the proportion of the company’s prescription drugs (including DTP business), the increase in the proportion of low-gross pharmaceutical business and the reform of small-scale taxpayers.Selling costs CO2 21.84%, a decrease of 1 unit before, and administrative expenses 4.51%, a decrease of 0 every year.One single, the overall effect of the company’s expansion while controlling costs is significant; accounts receivable increased slightly, basically stable; net cash flow from operating activities increased by 20.42%, mainly due to increased operating income.The remaining financial indicators are basically normal. Earnings forecast and investment rating We expect the company to achieve operating income of 118 in 2019-2021.1.5 billion, 147.05 ppm and 183.04 million, net profit attributable to mothers was 5.3.1 billion, 6.51 ppm and 7.950,000 yuan, an increase of 22 each year.1%, 22.6% and 22.2%, equivalent to 1, respectively.86 yuan / share, 2.28 yuan / share and 2.79 yuan / share, corresponding to PE of 36.3X, 29.6X and 24.2x, maintain BUY rating. Risk analysis Risk of policy changes in the industry; market competition intensifies; scale expansion progress fails to meet expectations; M & A store integration fails to meet expectations; goodwill impairment accruals;

[Efficacy and role of Panax notoginseng]_Benefits_Premise

[Efficacy and role of Panax notoginseng]_Benefits_Premise

Panax notoginseng can improve the body’s ability to resist bacterial viruses.

The efficacy and role of panax notoginseng in treating diseases: it can stimulate blood and promote blood production, and can treat certain cardiovascular and cerebrovascular diseases.

Cosmetology and beauty: It contains protein and other substances that can whiten the face.

For headaches: it soothes the blood and stops the headaches.

Its numerous nutritional values are very worthwhile and practical.

1, enhance immunity It contains a lot of precious nutrients such as flavonoids, notoginseng and notoginseng polysaccharides. Taking it can improve the body’s ability to resist bacterial viruses.

2. Treating diseases It can both relax the blood and promote hematopoiesis. Regularly taking it can soften blood vessels and ensure blood flow around the body. It is very good for blood health and can prevent and treat some of the heart and blood vessels.as a result of.

3, beautify the face It contains biologically active substances that can fully meet the skin’s nutritional requirements, and play a role in whitening the face and freckle.

Not only that, it can also regulate women’s menstrual cycle, which can be a good treatment for dysmenorrhea, amenorrhea and irregular menstruation.

4. Quantitative treatment of headaches It can stop headaches because it contains certain substances that can relax the blood and clear the meridians.

So if you have a headache, do n’t prevent taking Sanqi, but pay attention to the dosage.

5, blood and anti-cancer It can effectively reduce the plasma, blood lipids and triglycerides in the serum, so it can effectively prevent the occurrence of cancer.

Essentially it can stop bleeding, make up blood, and activate blood, mainly because it can increase blood flow.

6, delay aging It contains a lot of antioxidant substances, can reduce the role of slowing the aging of the human body.

Therefore, regular consumption of it can slow down people’s aging.


Domestic application of Panax notoginseng (1) As a healthy food, it is directly consumed or medicated.

(2) As medicines, it is the main ingredient of famous Chinese medicines such as Yunnan Baiyao, Zhangzhou Pien Tze Huang and Fufang Danshen Tablets.


The overseas application of Panax notoginseng Japan uses native Panax notoginseng as a health food, health-enhancing supplements, and promotes the consumption of organic Panax notoginseng, and the separation and extraction of Panax notoginseng is rarely carried out. It is believed that the separation and extraction process will increase production costs and cannot guaranteeThe active ingredients of Panax notoginseng are complete and natural.

Panax notoginseng contains more than 20 kinds of saponins and various types of active ingredients. It is made from a combination of organic proportions, and a single extraction of certain ingredients can’t bear the due effect.

Three steps to lose weight in the morning, easy and happy

Three steps to lose weight in the morning, easy and happy

Modern people are busy with work, fast pace of life, want to lose weight and can’t find a specific time to go to fitness. In fact, it doesn’t have to be so troublesome. For busy office workers, some small habits after getting up every morning can keep you slim and easy to do.There is no need to specially schedule exercise time.

Three steps to lose weight in the morning, become your way of life after getting used to, and create a perfect curve that is easy and natural.

  Wake Up 7:00 AM Get up and drink water to help detoxify. When a girl star discovers her beautiful remedies, she will cause a large glass of water in the morning to eliminate swelling!

The reason is that the night may eat too much alkali or drink too much water, did not discharge after a night of sleep, drink a large glass of water after getting up in the morning, leading to rapid urination.

Even if you are in the process of losing weight, you should absorb at least 2000 cc of water every day to maintain normal functioning and eliminate waste.

In addition, the current hot trace mineral water, containing calcium, magnesium and other minerals, has no emissions, for people who always eat food, but also can effectively supplement nutrition, is also a good choice.

  Sports7: 30 AM slimming morning exercise, the effect is significant every morning exercise, not only can make people refreshed to start a day of work and study, but also to maintain a bodybuilding shape, eliminate redundant misfortune.

But to see the obvious effect, an important condition is “persistence.”

  The body is stretched and stretched: the body is lifted, like a stretch, but it must be increased.

If you are lying on a bed, you can use both hands to grasp the bed above the head (or the two sides of the body connected to the double-sided bed), and raise the legs with one leg in turn (or both legs).

Slightly lift your legs and slow down when you fall back.

Do 20?
30 times.

Helps reduce excess aunt in the lower abdomen, strengthen abdominal muscle strength, and increase the elasticity of the abdominal muscles.

  Supine and hips: supine on the bed, knees, knees close together, the feet are slightly wider than the hips, the arms are straight (palm down) placed on the side of the body.

The legs are separated, the center of gravity is moved to the shoulders, supported by the shoulders, inhaled and lifted, and stopped.

Exhale, slowly lower the chest and restore.

Repeat the exercise more than 20 times.

It is effective for reducing the waist, the hips and the excess meat, strengthening the waist, hip muscle strength, and strengthening the kidney.

  Morning exercises for facials If you don’t want to relax your skin and don’t want to repeat cosmetic surgery and medications, you don’t want to do a facial morning exercise every day.

Wear a loose, unobstructed dress, gently apply dry skin to the skin with a skin care product, sit on the chair, lean against the back of the chair, and start inhaling with your nose, then exhale with your mouth.

  Method: Take a deep breath and then force the exhaled breath to the nose and wings.

Exhale should be like this: exhale through the right corner of the mouth, the left corner of the mouth is closed; then exhale through the left corner of the mouth, then the right corner of the mouth is closed.

Slowly and deeply inhale, delaying your breathing by 3?
4 seconds.

After bulging your cheeks, force the inhaled air out of the closed lips.

  Shower 8:30 AM Morning bathing, light and refreshing Westerners like to come to a morning bath, it is not unreasonable, in addition to clear mind, clean pore skin, activate metabolic cycle, and then rub face care products or body firmingThe product is especially effective. If you have time, even a simple bath is even better!

By taking a rise in body temperature during bathing, the body’s metabolic rate increases, as if it were a step, it can also consume some calories.

The water temperature is 38?
39 ° C is better, each time you make a 20?
30 minutes is enough.

The stovepipe plan makes the big legs go without a trace

The stovepipe plan makes the big legs go without a trace

The thick thighs make your beauty disappear.

Don’t worry about it alone from now on, start your day stovepipe leg plan!

  The standard of the beautiful legs is not the long, slim and beautiful legs of the models on the long envious T-stage.

Maybe God did not give you a pair of long legs, but the standard of the legs is not in terms of length!

In fact, as long as the difference between the calf and the foot’s preset thickness is about 15 cm, it is the beautiful legs!

Just like the current body shaping rather than weight loss, the beautiful leg shape is the source of more confidence!

  Everyone’s legs are loaded with body weight every day, especially the calf must also bear the dual strength of the body and the ground, muscle is inevitable.

In order to have a pair of beautiful legs that can be seen at any time, you can practice hard and do the daily compulsory courses!

  Walking + small gymnastics morning 8:00 busy day begins, the day is in the morning, the legs also start in the morning.

  Go to the station to take a ride, pay attention to the correct walking posture, that is, raise your head and chest, use the strength of the waist to walk, straighten the back, reduce the abdomen, tighten the buttocks, the heel first touch the ground, maintain a certain speed.

Grasping these essentials, you can use your feet to beautify your legs.

  After getting on the bus, if you have a seat, you can easily do sports.

The legs are placed at 90 degrees, the heels are fixed, and the toes are repeatedly swayed up and down. This action can exercise the muscles of the calves and make the legs more even.

  If you don’t have a seat, you can practice small gymnastics: stand upright, lift any foot, cross the cross, gently press, hold for 10 seconds, then change the other leg, pay attention to the center of the body, if it is difficult to maintain balance,Can be supported on the column by hand.

  The stovepipe method of a sedentary chair at 3:00 pm office workers shortened sitting in front, and the legs were prone to become fat due to lack of exercise.

You can take advantage of the opportunity to sit and do some exercise to achieve the dual effect of eliminating fatigue and stovepipe.


Sitting on the chair, holding the two sides of the chair with both hands, fixing the body, lifting one foot and standing straight for 30 seconds.

Then change the other foot to do the same.

It should be noted that the alignment position cannot be moved while the alignment is straight.


Sitting on the chair, standing on the chest, keeping the legs crossed, the feet and feet crossed, the toes on the ground, the upper legs pressed down, the lower legs pushed up, and the legs were interchanged after about 10 seconds.10 seconds, 2-3 times.

Do not hold your breath to do this.

  Home stovepipe exercise at 8:00 in the evening to rest at home or watch TV can be used to do a beautiful leg exercises.


The action that ballerinas often do: lift one leg forward to 90 degrees, straighten the instep, and then slowly move to the side of the body, doing 20 times for each leg.

Insist on doing this action, both skinny legs and symmetrical body.


Beautify the calf curve very effective action: lay on the ground, put your hands on the side of the body, straighten and tighten the legs, and move the insteps 20-30 times, then take a break and repeat it twice.

Experience and skills of sex cattle

Experience and skills of sex cattle

Enjoy the ultimate pleasure of oral sex. If your man still can’t continue to give you the pleasure of oral sex, and you want him to do this, don’t hinder the time to find a personal love, talk to him and let him know that what you want isWhat, for example, you can tell him at the door: “It feels great just now, but I want to feel the taste of your closeness. I haven’t seen you doing this before.

“Budget, many women have always refused men to help them with oral sex. The reason is that women are deeply inferior to their lower bodies. These women lack confidence.

I feel that my lower body is ugly and has an embarrassing smell.

Therefore, unless they have to, they adjust not to let the man put his face in front of the lower body to enjoy, if you want to lift this level of worry, do not hinder before going to bed to make love, first wash a refreshing bathtub, relax, relaxWelcome to the pleasure of face-to-face.

– Bonnie Libojie “New Male Sex” authors you must believe this fact, most men think that women’s vaginal secretions are like aphrodisiac, so that they are excited, so please put down the strict security, do not reject himIt’s a thousand miles away, your vaginal smell is very good, don’t let your man taste the taste of your lower body, feel the stimulation of his tongue tipping back and forth, you will be closer to each other.

– Su-Jiaosheng-Sunday Speaking Moderator If you feel that you haven’t got to the itch yet, don’t hinder the handling and open your labia, so that your man can more easily get close to your pussy and make the pleasure even higher.If there is still a man who works for you to open the labia, it is even easy to distract him, and he will soon be exhausted. Therefore, it is best for you to open your labia so that your man can do it all.Please you.

– Liu Peiji, founder of the Beverly Hills Sexology Research Program.

  Mage is infinite, do you know how many hands can you have?

As long as you know how to use it flexibly, you will find that your hands can bring fun without losing to other parts of the body; when you grab to stimulate the man, it is recommended that you do not hinder the use of a kind called “Eude for Brian” (OdetoBrian)’s technique of putting a finger in a U shape, the thumb extending the bottom of his penis sheath, the palm facing inward, and the tiger cub facing you.

  Then, start slowly licking his penis. When your palm touches his glans, he tries to sharpen his glans with the palm of his hand. After a while, he changes to the other side and restarts the upward movement.Follow the steps below and exchange your hands from time to time.

  There is also a technique of masturbation called “BasketWeave”, applying a small amount of pressure on the hand, sitting in front of his eyes, hands clasping together, then encircling his penis and pointing his thumb at you., start to go up and down.

When you lick your penis, remember to change the angle from time to time, and add some small movements. You don’t hinder your attention at any time to correct your movements. You will see his unprecedented satisfaction.

– Liu Peiji – Beverly Hills Sexology Research Program Opener, when you play with his penis, let him touch your lower body with your hands. This is a very exciting attempt to hand over each other.Exploring the privacy of the other party, exchanging the thrill of excitement, this excitement can be freely retracted, and the subsequent physical contact can be more heated and cut.

-Crick-Richardmont’s “The mouth-watering secrets of the sex” author’s pleasure is endless. The following tips can help your climax rise to the next level, while still allowing you to last longer before the climax, to reachThis goal, the two must have a very good tacit understanding, can always pay attention to the progress and feelings of the other party, before one of them reaches the climax, suspend the action of vaginal insertion or masturbation, exchange sexual posture, or spend a fewMinutes to help the other body massage, so that the high sexual desire to ease first, when the sexual desire has not completely disappeared, once again entered the battlefield, and thus the step to approach the climax.

Wait until you finally reach the true climax.

That explosive power will make you unforgettable.

– Deborah-Pitson’s “Sex Girl’s Sex Collection” is so fascinating when making love, such a small movement can make your climax extraordinarily strong. Usually, when we are nervous, it will become extraordinarily confusing, especially in making love.Or if you please the other person, you will be closed because you are worried about your poor performance. Therefore, you forget to adjust the speed of sucking. When you masturbate, it is a good time to practice deep sucking, concentrate and suck.Drop to the position of the pelvic cavity, then slowly apply to the vaginal sex; with deep sucking when making love, you will feel the whole body relaxed and reach the peak of the climax.

– Susan Braque’s “Top Ten Suggestions for Sexual Pleasure” authors use some ingenuity to try out various sexual intercourse postures using the characteristics and corners of various furniture in the home. For example, if you can see it, but you can’t see it outside.Make love by the window, under the piano, on the dining table, on the living room sofa or on the edge of the hidden balcony. You can boldly adopt various postures to increase the pleasure.

Over time, the whole family will have memories of your climax, and all you see are sexy areas.

  Men need to adjust a lot of men are incomprehensible, they only know the impulse to vent, but do not know how to please women, as his woman, you are obliged to tell him what you want?

What should he do?

  Of course, your attitude does not have to be corrected like a stern teacher. Every time you make love, you are adjusting his timing, the gesture of caressing, the speed of the body, the strength of entering, you can use the body.Interaction tells you your needs, if he still doesn’t understand, you can give timely assistance on the verbal, “Dear, this is great!

“” Just a little closer to perfection!

“I will be more comfortable with gentleness!”

“, remember to whisper softly and tell your feelings.”

– Paul Jonny’s “Sexual Excitement” author This is a little trick that seems insignificant, but the effect is amazing, and you may not even know it.

Playing pubic hair can also bring unexpected stimuli. For a woman who shaves her pubic hair, she can’t enjoy this kind of happiness. Tell this lover about this little trick. When you have sex, let himYou are doing this service.

-Crick-Richardmon’s “The mouthwatering secret of sex” author wants to have the climax of wishing, you must tell your man more clearly what to do, your encouragement and praise are all pointing, or you directly grab his hand, move on your body, point him to find your sensitive parts, let you be excited and the speed you are used to, so no big deal, this kind of guidance is regarded as one of the foreplayKind, you can get endless fun from each other.

– Bonnie Libojie, author of “New Male Sex”