开源证券给予华海药业买入评级，公司信息更新报告：2025上半年业绩有所波动，在研项目快速推进

Group 1 - The core viewpoint of the report is that Huahai Pharmaceutical (600521.SH) is given a "buy" rating by Open Source Securities due to expected performance fluctuations in the first half of 2025 and the rapid advancement of ongoing projects [1] - The ongoing projects are progressing smoothly, and the research and development expense ratio has increased, indicating a positive outlook for the company's future [1] Group 2 - The report highlights potential risks including underperformance in new product registrations, changes in industry policies, exchange rate fluctuations, and deteriorating trade environments [1]