Gelonghui, Feb. 4 | Huachuang Securities Research Report pointed out that in view of the clear drug outflow trend, Kyushu Express (600998.SH) has successfully gained a competitive advantage and business barriers, and is expected to grow 14.8%, 15.3%, and 16.5% year-on-year in 23-25; currently, the share of CSO business in the company's net profit to mother is expected to be close to 30%, and will continue to increase or drive value revaluation; at the same time, with significant improvements in the company's cash flow and the steady progress of REITs projects, dividend potential is expected to be fully unleashed; furthermore, the dividend potential is expected to be fully released; in addition, the dividend potential is expected to be fully released; Financing costs Being in a declining channel helps save financial expenses and improve performance flexibility; taken as a comprehensive review, referring to comparable companies and factors such as valuation switching, the company was given a target PE of 15 times in 24 years, corresponding to a target price of 10.6 yuan, with room for 54% improvement; the first coverage gave it a “recommended” rating.