CDG(SH:603018) Sou Hu Cai Jing·2025-11-05 00:10Group 1 - The core viewpoint of the report is that Guoyuan Securities has given Huasheng Group (603018.SH, latest price: 7.79 yuan) an "overweight" rating based on several factors [1] - The overall performance of the company is under pressure, but there was an improvement in Q3 [1] - The profitability level has declined, although cost control measures have shown effectiveness [1] - The digital system has taken shape, with dual expansion in smart transportation and low-altitude economy [1] Group 2 - Risks include the potential underperformance of low-altitude economic infrastructure construction [1] - There are concerns regarding insufficient policy support for infrastructure-related projects [1] - Fluctuations in infrastructure investment scale pose a risk [1] - There are risks associated with cross-industry engineering design business development [1] - The possibility of bad debt losses from accounts receivable is a concern [1] - Changes in control could impact normal business operations [1]