On December 18, Guolonghui reported that the research report from Founder Securities pointed out that Yutong Bus Co.,Ltd. (600066.SH) continues to focus on research and innovation, proactively laying out in the New energy Fund and international market, and actively seizing the opportunities for low-carbon development in global public transportation. The company has always placed great importance on Shareholder returns and is committed to establishing a long-term stable dividend mechanism, having accumulated Cash / Money Market dividends of 23.8 billion yuan since its listing, with a dividend payout ratio of 75%, demonstrating strong long-term investment value. The overseas business has started a new growth cycle, with vast growth potential in the New energy Fund, and the average export price of new energy buses is nearly three times that of traditional RBOB Gasoline vehicles, with exports expected to continue the trend of both volume and price increases. The company maintains an absolute leading market share, supported by four advantages that build a strong moat. Maintains a "Recommended" rating.