Group 1 - The core viewpoint is that Haiyou New Materials is successfully expanding its non-photovoltaic film business amidst a challenging photovoltaic industry, showing significant growth in revenue and profit margins [1][2] - In 2024, the revenue from non-photovoltaic film business reached 20.66 million yuan, representing a year-on-year increase of 504.52%, with a gross margin of 28.22% [1] - The company's core product, PDCLC dimming film, has been adopted in the Zhiji L6 vehicle, making it the world's first mass producer of dark liquid crystal dimming film [1] Group 2 - The dimming film has high heat insulation efficiency, low cost, and fast response time, with potential penetration into vehicles priced below 200,000 yuan [1] - The global dimming film market is expected to reach 10 billion dollars by 2030, indicating substantial market potential [1] - The company has also entered mass production of dimming films for home decoration and has completed self-research on PVBF film, while its high-end leather technology for automotive applications is globally unique and has achieved stable supply [1]