Huafu Securities' research report suggests focusing on four investment opportunities in the logistics supply chain industry: 1. Cross-border logistics: Cross-border demand continues to grow rapidly, air transportation price index maintains a high growth rate compared with the previous year, the industry's high prosperity continues, and the short-to-medium term is conducive to the repair of the profit and loss statement of cross-border logistics companies. Focus on: Donghai Logistics, CTS International Logistics Corporation, etc. 2. Express delivery: The prices in the express delivery industry will remain in a weak competitive state in 2024, mainly due to the limited new production capacity of industry leaders. Under the continuous demand beyond expectations of 2024, the margin of the franchise system for express delivery will continue to repair. Focus on: YTO Express Group, Yunda Holding, etc. 3. Chemical supply chain: The valuation of the chemical logistics supply chain sector is still attractive, and prices are marginally improving. It is important to pay attention to the elasticity of the sector's upward repair. Bullish on the top companies' ability to achieve bottom-line expansion with excellent management and rich merger and acquisition experience. Focus on: Guangdong Great River Smarter Logistics, etc. 4. Express Delivery: The competition pattern in the express delivery industry continues to improve. The repair of demand from the second quarter will help release the high profit elasticity of high-end express delivery. Focus on: Deppon Logistics, etc.