[Citic Securities: bus industry ushering in repair overseas market opens new space] May 10, CITIC Securities Research News pointed out that the bus industry is expected to usher in a cyclical upward phase from 2023. Domestic tourist buses + electric bus replacement demand, overseas post-epidemic repair + electrification permeability increase, we expect this round of growth will be at least three years of time dimension. Domestic enterprises have obvious advantages in electrification, and have established a good brand through the strong guarantee of three power technology, "one country, one policy", sales and service, and the overseas market will be an important starting point for enterprises to achieve a new round of growth in the next few years.