Group 1 - The core viewpoint of the report is that Huayong Securities has given a "Buy" rating to Hengli Hydraulic (601100.SH) based on improving quarterly performance and enhanced profitability [1] - The report highlights that the company's performance has shown improvement on a quarterly basis, indicating a positive trend [1] - It notes that the company's profitability has increased, although the expense ratio has also risen [1] - Progress in linear actuators is mentioned as a factor that could elevate the company's valuation [1] Group 2 - The report outlines several risks, including increased market uncertainty due to global macroeconomic fluctuations [1] - It also mentions potential policy risk changes and the risk of overseas market expansion not meeting expectations [1] - Additional risks include exchange rate fluctuations and volatility in raw material prices [1]

西南证券8月20日发布美好医疗（301363.SZ，最新价：19.83元）研报称：1）基石业务短期受关税影响 压制，看好2025H2改善；2）新业务步入收获期，第二成长曲线逐步清晰；3）股权激励彰显信心，内 生外延双轮驱动。风险提示：海外贸易风险，订单不及预期风险，研发进度不及预期风险。 （文章来源：每日经济新闻） ...