Gelonghui, December 27 | Galaxy Securities Research Report indicates that Kyushu Express (600998.SH) issued an announcement that the pharmaceutical warehousing and logistics infrastructure public offering REITS has been approved by the China Securities Regulatory Commission. As the only asset target currently approved for public REITs in the pharmaceutical industry, the company is scarce. Its core business is based on traditional distribution business, and is actively promoting the implementation of the “three new, two modernization strategies, which guide the rapid development of innovative businesses such as CSO and new retail. Without considering the increase in profits brought about by the issuance of REITS, the company's net profit from 2024-2026 is estimated to be 2.22/2.563/2.93 billion yuan, respectively. The current stock price corresponding to 2024-2026 PE is 12/10/9 times 9 times, maintaining the “recommended” rating.