Founder Securities' research report indicates that Yutong Bus Co.,Ltd. (600066.SH) continues to focus on research and innovation, strategically laying out in the New energy Fund and international markets, actively seizing the opportunities for low-carbon development in Global public transportation. The company has always valued Shareholder returns and is committed to establishing a long-term stable dividend mechanism. Since its listing, it has accumulated Cash / Money Market dividends of 23.8 billion yuan, with a dividend rate of 75%, showcasing strong long-term investment value. The company's overseas expansion has started a new growth cycle, with broad growth potential in the New energy Fund. The average export price of New energy buses is nearly three times that of traditional RBOB Gasoline vehicles, and exports are expected to continue the trend of increasing volume and price. The company's market share remains absolutely leading, with four advantages forming a deep moat. Maintain the "Recommendation" rating.