华源证券给予林泰新材增持评级，飞行汽车等领域拓展可期

Group 1 - The core viewpoint of the report is that Huan Tai New Materials (林泰新材) is rated as a buy due to its strong growth prospects in the wet paper-based friction plate market and breakthroughs in the new energy vehicle DHT sector [2] - The report highlights a projected year-on-year revenue increase of 66% for wet paper-based friction plates by the first half of 2025, driven by the trend of self-control [2] - The demand growth in the motorcycle and all-terrain vehicle sectors, along with the expansion into applications like flying cars, demonstrates the company's forward-looking development strategy [2]