Core Viewpoint - Haishun New Materials (300501) reported a significant increase in aluminum-plastic film sales, with a year-on-year growth exceeding 50% in the first three quarters of 2025, focusing on high-end medical and electronic film materials [1][2] Business Progress - The company highlighted that its aluminum-plastic film products are primarily used in the 3C soft-pack battery sector, with sales growth driven by their barrier, moisture-proof, and chemical resistance properties [1] - Strategies to enhance product competitiveness, expand sales channels, strengthen brand promotion, and improve customer service are being implemented to address market competition [1] - Plans to expand into the power battery and energy storage sectors are in place, aligning with the development of next-generation technologies like solid-state batteries [1] R&D Investment - R&D expenses increased year-on-year in the third quarter, focusing on high-end medical and electronic film materials, with some new products already certified by customers and entering the industrialization phase [2] Market and Shareholder Relations - The management acknowledged concerns regarding the long-term underperformance of the stock price, attributing it to multiple factors including market conditions and company performance [2] - Measures such as share buybacks, cash dividends, and employee stock ownership plans are being utilized to enhance market confidence [2] - Clarification was provided regarding the previously announced 180 million yuan as a bank approval credit limit, not actual funds received, emphasizing that buyback operations aim to protect company value and shareholder interests [2] Financial and Strategic Details - The company is focusing on the new consumption and renewable energy markets, achieving positive growth in sales revenue from consumer film products and aluminum-plastic films in the renewable energy sector [2] - The strategy includes advancing existing product processes and industrializing new products to diversify and address market challenges [2]

Core Insights - The company is increasing its R&D investment, focusing on high-end medical membrane materials and electronic membrane materials [1] - Some new products have already passed customer certification and entered the industrialization stage, which will provide new growth momentum for the company's future development [1] Summary by Categories - **R&D Investment** - The company is committed to enhancing its research and development efforts [1] - **Product Development** - New products in high-end medical and electronic membrane materials have received customer certification [1] - These products are now in the industrialization phase [1] - **Future Growth** - The advancements in product development are expected to drive future growth for the company [1]