国信证券发布华利集团研报，新客户与欧洲市场驱动收入增长，盈利短期承压

Group 1 - The core viewpoint of the report is that Guoli Group (300979.SZ) is rated as outperforming the market due to its new factory ramp-up and gradual improvement in gross margin, despite a slowdown in growth and a decline in profit margins in Q2 [1] - The report highlights that the company's growth has slowed down in the second quarter, with profit margins declining both year-on-year and quarter-on-quarter [1] - The successful ramp-up of the new factory is expected to positively impact the gross margin over time [1] Group 2 - The report includes risk factors such as potential underperformance in capacity expansion, weak sales from downstream brands, and international political and economic risks [1]