The Zhitong Finance App learned that Jefferies released a research report saying that maintaining Galaxy Entertainment's (00027) “buy” rating last year was a transition period for the company. After the opening of the third phase of Galaxy Entertainment, the market share will increase this year, and the customer focus will shift to lifestyle and leisure. Under strong financial conditions, I believe GEG will continue to be the sole dividend payout operator. The dividend payout ratio may be strongly increased this year, with a target price of HK$64. The company still focuses on giving shareholders returns through dividends. The previous dividend ratio was about 30%, which is expected to gradually increase. The remaining portion of the third phase and the capital expenditure for the fourth phase was 23 billion yuan, and the group already held the same amount of cash at the end of the third quarter of last year. It is estimated that the dividend payout ratio will not change in the second half of last year, but it is expected to increase in the first half of this year.