Group 1 - The core viewpoint of the article is that China Galaxy has given Nova Star Cloud (301589.SZ) a "recommended" rating based on significant improvements in Q2 operations and sustained high growth in overseas revenue [1] - The report highlights a notable increase in gross margin and ongoing investment in research and development [1] - The company is making continuous advancements in MLED frontier technology, which strengthens its long-term technological competitiveness through industrial collaboration [1] Group 2 - The report mentions potential risks including lower-than-expected overseas demand, intensified market competition, uncertainties in trade policies, risks associated with technological upgrades, and challenges in global management [1]