关键词：循环泵、液冷循环泵、CDU、循环泵行业产业链、循环泵发展现状、循环泵市场规模、循环 泵细分市场、循环泵企业格局、循环泵发展趋势 一、循环泵行业相关概述 循环泵是基于叶片式或容积式原理，将机械能转化为流体动能与压力能，驱动流体在闭合管路系统中持 续循环的通用设备。其核心功能是"维持流体循环"，而非"长距离/高扬程输送"，需适配不同场景的流 量、压力及介质特性，是工业、民用、能源等领域的"基础动力组件"。 内容概要：循环泵作为驱动流体在闭合管路内持续循环的核心动力设备，已成为工业、建筑及能源等领 域不可或缺的基础组件。当前，中国泵行业处于结构分化与质量升级并行阶段，整体呈现高端增长、低 端承压特征，2024年市场规模达2360亿元，预计2025年升至2480亿元。其中，专注流体循环的循环泵细 分市场表现稳健，2024年规模约313亿元，占比超13%，受益于节能改造与新兴需求释放，预计2025年 突破330亿元，年均增速约8%。从需求结构看，工业、建筑与市政领域形成稳定支撑，分别占据60%、 27%和13%的市场份额。其中工业领域在节能改造推动下持续替换低效泵，建筑领域受益绿色建筑推 广，市政领域则随管网扩 ...

Investment Rating - The report maintains an investment rating of "Outperform the Market" for the automotive industry [2][9]. Core Insights - The automotive industry continues to show strong growth, with September production and sales reaching historical highs of 3.2758 million and 3.2264 million vehicles, respectively, reflecting month-on-month increases of 16.35% and 12.95% [9][26]. - The penetration rate of new energy vehicles (NEVs) has been steadily increasing, reaching 49.72% in September, with production and sales of NEVs at 1.6169 million and 1.604 million units, respectively, marking year-on-year growth of 23.67% and 24.65% [9][62]. - The report highlights two main investment themes: the impact of vehicle replacement policies and the commercialization of smart driving technologies, suggesting a focus on leading automotive companies and their supply chains [9][10]. Summary by Sections 1. Industry Performance Review - As of October 22, the automotive (CITIC) industry index fell by 6.1%, underperforming the CSI 300 index by 5.06 percentage points, ranking 29th among 30 CITIC primary industries [4][13]. - The automotive sector has seen a year-to-date increase of 23.23%, outperforming the CSI 300 index by 6.51 percentage points [13][16]. 2. Key Industry Data Tracking 2.1. Industry Overview - In September, the automotive industry achieved production and sales of 3.2758 million and 3.2264 million vehicles, respectively, with both metrics showing over 10% growth month-on-month and year-on-year [9][26]. - The inventory coefficient for automotive dealers was 1.35 in September, indicating a slight increase but still below the warning line [26][29]. 2.2. Passenger Vehicles - Passenger vehicle production and sales reached 2.8996 million and 2.8585 million units in September, with year-on-year growth of 15.90% and 13.20% [37][47]. - Domestic brands accounted for 70.2% of passenger vehicle sales, with a year-on-year increase of 2.52 percentage points [47][50]. 2.3. Commercial Vehicles - Commercial vehicle production and sales in September were 376,200 and 367,900 units, respectively, with year-on-year growth of 27.74% and 29.61% [55][58]. - The new energy heavy truck market continues to perform well, with a market share of 28.93% in September [58][60]. 2.4. New Energy Vehicles - NEV production and sales in September were 1.6169 million and 1.604 million units, with a year-on-year increase of 23.67% and 24.65% [62][79]. - The cumulative NEV sales from January to September reached 11.2426 million units, reflecting a year-on-year growth of 35.20% [62][79]. 3. Important Industry Company News - The report includes updates on new vehicle launches, highlighting various models and their specifications, which reflect the ongoing innovation in the automotive sector [85].

长江商报消息●长江商报记者 黄聪 当下，飞龙股份（002536.SZ）正面临业绩"双降"、募资项目难如期完工的局面。 10月21日晚间，飞龙股份发布2025年三季度报告，公司前三季度实现营业收入32.37亿元，同比下降7.38%；净利 润2.87亿元，同比增长7.54%。 其中，飞龙股份第三季度实现营业收入10.76亿元，同比下降4.68%；净利润7630.16万元，同比下降7.90%，为近 三年来首次。 同时，10月21日晚间，飞龙股份发布的公告显示，公司2.71亿元募资项目"郑州飞龙汽车部件有限公司年产560万 只新能源热管理部件系列产品项目"，已累计投资1.32亿元，已投入募集资金金额占比为48.61%，该项目达到预定 可使用状态日期为2025年12月31日。 长江商报记者发现，截至2024年底，"郑州飞龙汽车部件有限公司年产560万只新能源热管理部件系列产品项目"累 计投资1.21亿元，投资进度为44.64%。半年过去了，该项目仅推进了约4个百分点，几无进展。 一家上市公司财务人员向长江商报记者表示，按照飞龙股份目前的投资进度来看，"年产560万只新能源热管理部 件系列产品项目"很可能将延期完工。 前 ...

（文章来源：证券日报） 证券日报网讯飞龙股份10月22日在互动平台回答投资者提问时表示，截至2025年10月20日，最新股东户 数近9万户。 ...

Group 1 - Sanwang Communication plans to repurchase shares worth 20-40 million yuan for employee stock incentive plans [1] - Ankrui reported a net profit of 192 million yuan for the first three quarters, a year-on-year increase of 21.31% [1] - Taishan Petroleum's net profit for the first three quarters reached 113 million yuan, up 112.32% year-on-year [1] - Zhejiang Xiantong achieved a net profit of 152 million yuan for the first three quarters, a 17.4% increase year-on-year [1] Group 2 - Xuanji Information reported a net loss of 173 million yuan for the first three quarters [1] - Mailande's net profit slightly decreased by 0.07% to 96 million yuan for the first three quarters [1] - Tengjing Technology's subsidiary received a sales order worth 87.61 million yuan [1] Group 3 - Hotgen Biotech's affiliate achieved positive results in Phase Ib clinical trials for the innovative drug SGC001 [1] - Zhongyan Dadi won a bid for a sports project in Beijing worth 74.04 million yuan [1] - Henghui Security's net profit decreased by 12.85% to 81.98 million yuan for the first three quarters [1] Group 4 - Xiongdi Technology's net profit increased by 71.16% to 18.38 million yuan for the first three quarters [1] - Meilixin reported a net loss of 215 million yuan for the first three quarters [1] - Haichen Pharmaceutical's net profit grew by 16.22% to 32.68 million yuan for the first three quarters [1] Group 5 - Qiaoyuan Co. reported a net profit of 181 million yuan for the first three quarters, a 40.54% increase year-on-year [1] - Fuda Co. achieved a net profit of 221 million yuan for the first three quarters, up 83.27% year-on-year [1] - Xianggang Technology's net profit surged by 186.19% to 95.47 million yuan for the first three quarters [1] Group 6 - ST Nanchuan received a restriction order from the court due to a financial dispute [1] - Changyou Technology announced the dismissal of two vice presidents [1] - Haoyuan Automotive received a project confirmation for an automatic parking system worth 576 million yuan [1] Group 7 - Jiuzhou Biotech obtained a medical device registration certificate for a diagnostic kit [1] - Shihua Machinery signed an investment intention letter for a subsidiary's capital increase [1] - Zhuhai Mian Group plans to transfer 100% equity of Gree Real Estate [1] Group 8 - Dalian Heavy Industry reported a net profit of 490 million yuan for the first three quarters, a 23.97% increase year-on-year [1] - Haimeng Data reported a net loss of 75.43 million yuan for the first three quarters [1] - Feilong Co. achieved a net profit of 287 million yuan for the first three quarters, a 7.54% increase year-on-year [1] Group 9 - Kaipu Testing reported a net profit of 57.84 million yuan for the first three quarters, a 3.34% increase year-on-year [1] - Ganyue Express signed a strategic cooperation agreement with a major energy company [1] - Tuoshan Heavy Industry's controlling shareholder plans to reduce its stake by 2.82% [1] Group 10 - Yiatong's shareholder plans to reduce its stake by 1% [1] - Weishi Electronics reported a net profit of 24.29 million yuan for the first three quarters, a 22.59% decrease year-on-year [1] - Shensi Electronics won a bid for a data space construction project worth 161 million yuan [1] Group 11 - Xiechuang Data plans to purchase server assets worth up to 4 billion yuan [1] - Shandong Express's controlling shareholder plans to transfer 7% of its shares [1] - ST Huapeng's subsidiary received a government subsidy of 4.65 million yuan [1] Group 12 - Jieqiang Equipment's shareholder plans to reduce its stake by 1% [1] - China Jushi reported a net profit of 2.568 billion yuan for the first three quarters, a 67.51% increase year-on-year [1] - ST Fanli reported a net loss of 44.78 million yuan for the first three quarters [1] Group 13 - Xiyu Tourism reported a net profit of 98.58 million yuan for the first three quarters, a 14.51% decrease year-on-year [1] - Abison reported a net profit of 185 million yuan for the first three quarters, a 57.33% increase year-on-year [1] - Huayan Precision reported a net profit of 70.76 million yuan for the first three quarters, a 31.07% increase year-on-year [1] Group 14 - Jiangling Motors reported a net profit of 74.9 million yuan for the first three quarters, a 35.76% decrease year-on-year [1]

10月22日，飞龙股份发布公告称，公司于2025年10月20日审议通过了《关于部分募投项目调整实施主体及实施地点的议案》。在募投项目实 施方式、投资用途及投资规模保持不变的前提下，为适配新能源业务发展需求，契合新兴领域方向，提高募集资金使用效率，公司决定对"年 产600万只新能源电子水泵"募投项目的部分产线设备进行调整。 有资金进行现金管理，近期已审议通过新一轮现金管理议案，拟使用不超过2.2亿元的暂时闲置募集资金和不超过3亿元的闲置自有资金开展 相关业务，以提升资金使用效率。 对于本次调整带来的影响，飞龙股份表示，这是公司结合行业发展及项目实施实际情况做出的审慎决定，不会改变募集资金的核心规划，也 不会对募投项目实施造成实质性影响。相反，此次调整有利于优化公司资源配置，加快培育新的业务增长点，增强长期可持续发展能力和核 心竞争力，符合公司及全体股东的整体利益。 回溯本次募集资金的基本情况，经中国证券监督管理委员会相关批复同意注册，飞龙股份曾向特定对象发行A股股票，募集资金总额约7.8亿 元，扣除发行费用后净额约7.69亿元。 截至2025年6月30日，公司募集资金投资使用整体进展顺利。其中，"年产600万只 ...

经济观察网 2025年10月21日，飞龙股份(002536)发布2025年第三季度报告，2025年第三季度实现营业收 入10.76亿元，同比下降4.68%；实现净利润7630.16万元，同比下降7.90%。 ...

（文章来源：证券日报） 证券日报网讯 10月21日晚间，飞龙股份发布2025年第三季度报告称，2025年前三季度公司实现营业收 入3，237，487，765.07元，同比下降7.38%；归属于上市公司股东的净利润为286，739，503.28元，同 比增长7.54%。 ...

格隆汇10月21日丨飞龙股份(002536.SZ)公布，为深化公司全球化布局，扩大业务覆盖范围，提升产品 国际竞争力，实现从"中国制造"向"全球运营"战略转型。飞龙汽车部件股份有限公司于2025年10月20日 召开第八届董事会第十七次会议和第八届监事会第十五次会议，审议通过了《关于向境外全资子公司增 加投资的议案》，公司拟以自有资金向境外全资子公司飞龙国际私营有限公司（简称"飞龙国际"）增加 投资不超过3亿元人民币，增加投资后总投资金额不超过9亿元人民币，后续主要用于飞龙国际对龙泰汽 车部件（泰国）有限公司（简称"龙泰公司"）投资。投资金额根据龙泰公司建设进展情况逐步到位，飞 龙国际注册资本也将适时进行变更。本次增加投资后，公司仍持有飞龙国际100%的股权，飞龙国际仍 为公司的全资子公司。 ...

格隆汇10月21日丨飞龙股份(002536.SZ)公布三季度报告，前三季营业收入32.37亿元，同比下降7.38%， 归属于上市公司股东的净利润2.87亿元，同比增长7.54%，归属于上市公司股东的扣除非经常性损益的 净利润3亿元，同比增长16.66%。 ...