Dongwu Securities released a research report on April 7 stating that it gave Yutong Heavy Industries (600817.SH) a purchase rating. The main reasons for the rating include: 1) the decline in revenue from sanitation equipment & construction machinery, compounded by impairment of accounts receivable, putting pressure on performance; 2) significant improvement in net operating cash flow in 2023, with a dividend ratio of up to 92%; 3) competition in the new energy sector intensified, expecting the company's market share to rise; 4) the annual amount of 700 million yuan of active projects at the end of 2023 to strictly control risk and optimize the project structure; 5) the economy of pure electric mining vehicles is outstanding, and the company maintains the competitive advantage of the number one brand in the industry. (Mainichi Keizai Shimbun)