Core Insights - Feilong Automotive Parts Co., Ltd. held an investor meeting with 27 institutions and individual investors, focusing on the company's developments and future strategies [1] - The company has transitioned from a focus on automotive thermal management components to expanding into civilian sectors since 2017, while maintaining its core automotive business [1][2] - The subsidiary, Anhui Hangyi Technology Co., Ltd., specializes in non-automotive liquid cooling pumps, particularly for data centers and renewable energy applications [1][2] Company Overview - Founded in 1952, Feilong has evolved through two main phases: pre-2017 focused on automotive components, and post-2017 on diversification into civilian markets [1] - The company boasts a national-level enterprise technology center and four R&D centers, serving over 300 factory bases domestically and internationally [1] Product and Technology Focus - The company's new energy thermal management products include electronic pumps and temperature control valves, applicable in various cutting-edge fields such as automotive and data center cooling [2] - Current liquid cooling products primarily consist of electronic pumps and temperature control valves, with a focus on cold plate liquid cooling technology and ongoing development of immersion cooling technology [2] Client and Market Engagement - Feilong has established connections with over 80 clients across six major sectors, including server cooling, charging stations, hydrogen energy, and modern agricultural machinery [2] - The company is actively expanding its overseas market presence in the server liquid cooling sector, with over 120 projects in progress, some of which have already entered mass production [2] Production Capacity and Future Strategy - The company operates four liquid cooling production lines, with an expected annual capacity of up to 1.2 million units, adaptable based on order demand [2] - Future strategies include solidifying automotive thermal management business, expanding overseas markets, and integrating thermal management technologies into emerging sectors such as robotics [2]

Group 1: Company Overview - Feilong Automotive Parts Co., Ltd. has over 70 years of development history, established in 1952, focusing on thermal management system solutions [3] - The company has two main development phases: prior to 2017 focused on automotive thermal management components, and from 2017 onwards, expanding into civilian markets [3] - Currently, the company has established four R&D centers and serves over 300 factory bases globally, with more than 200 domestic and international clients [3] Group 2: Subsidiary Information - Anhui Hangyi Technology Co., Ltd. was established in July 2025 with a registered capital of 50 million RMB, focusing on non-automotive liquid cooling pumps [3] - The company aims to become a leader in IDC liquid cooling pump technology, offering solutions ranging from 16W to 22kW [3] Group 3: Product Applications - The company's new energy thermal management products, including electronic pumps and temperature control valves, are applicable in various fields such as automotive, data centers, AI cooling, and renewable energy [4] - The liquid cooling products are primarily based on cold plate technology, with plans to expand into immersion cooling technology [5] Group 4: Client Collaborations - The company has established connections with over 80 clients in the liquid cooling sector, with more than 120 ongoing projects, some of which have entered mass production [7] - Key clients include major players in server cooling, charging stations, and renewable energy sectors [7] Group 5: Production Capacity - The company has four production lines for liquid cooling products, with an expected annual capacity of up to 1.2 million units [7] - Current production capacity is sufficient to meet the rapid growth demands of the liquid cooling business [7] Group 6: Future Development Strategy - The company aims to solidify its automotive thermal management business while expanding into new applications such as server cooling and AI [8] - Plans to leverage its subsidiary in Thailand to enhance its presence in Southeast Asia and Central Asia [8] - Focus on integrating thermal management technology with emerging industries like robotics to drive long-term growth [8]

（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：董秘您好，2025年半年报说3.18亿元的龙泰基地于今年 6月26日投入生产，那为什么固定资产还是减少的？在建工程也看不到3.18亿元规模啊？请您解释一 下。 飞龙股份（002536.SZ）10月10日在投资者互动平台表示，公司龙泰生产基地于今年6月26日开始试生 产，基础建设尚未计入固定资产，龙泰公司投资进展情况请关注《2025年半年度报告》中在建工程明 细。 ...

Core Insights - The number of shareholders for Feilong Co. decreased to 97,000 as of September 30, representing a reduction of 13,000 shareholders or a decline of 11.82% compared to the previous period [2] - The company's stock price closed at 24.84 yuan, reflecting an increase of 1.93%, but the stock has cumulatively decreased by 6.26% since the concentration of shares began [2] - In the first half of the year, Feilong Co. reported total revenue of 2.162 billion yuan, a year-on-year decrease of 8.67%, while net profit reached 210 million yuan, marking a year-on-year increase of 14.49% [2] Shareholder Information - The number of shareholders has decreased for the second consecutive period, indicating a potential trend in shareholder sentiment [2] - The decline in shareholder numbers may suggest a consolidation of ownership or a response to market conditions [2] Financial Performance - The company experienced a decline in revenue while achieving growth in net profit, indicating a potential improvement in operational efficiency or cost management [2] - Basic earnings per share were reported at 0.3700 yuan, with a weighted average return on equity of 6.22% [2]

飞龙股份10月9日在互动平台表示，目前公司液冷领域现有四条生产线，预计每年产能最高可达120万只 左右。后期会根据客户的需求情况，适时进行调整增加。 ...

截至9月19日，飞龙股份股东户数11.00万，较上期减少6.78%；人均流通股4949股，较上期增加7.27%。 2025年1月-6月，飞龙股份实现营业收入21.62亿元，同比减少8.67%；归母净利润2.10亿元，同比增长 14.49%。 分红方面，飞龙股份A股上市后累计派现10.74亿元。近三年，累计派现5.02亿元。 机构持仓方面，截止2025年6月30日，飞龙股份十大流通股东中，香港中央结算有限公司位居第六大流 通股东，持股331.39万股，相比上期减少272.20万股。鹏华创新未来混合(LOF)（501205）位居第七大 流通股东，持股247.52万股，为新进股东。 责任编辑：小浪快报 9月30日，飞龙股份跌1.46%，成交额5.30亿元。两融数据显示，当日飞龙股份获融资买入额4493.43万 元，融资偿还8366.76万元，融资净买入-3873.33万元。截至9月30日，飞龙股份融资融券余额合计9.97 亿元。 融资方面，飞龙股份当日融资买入4493.43万元。当前融资余额9.97亿元，占流通市值的7.11%，融资余 额超过近一年80%分位水平，处于高位。 融券方面，飞龙股份9月30日融券偿还0. ...

Core Viewpoint - The company is expanding its production capacity in Thailand, primarily targeting overseas customers with engine thermal management products and new energy thermal management products [1] Group 1 - The planned production capacity at the Thailand facility will be flexible and adjusted based on customer demand once it officially commences operations [1]

格隆汇9月29日丨飞龙股份(002536.SZ)在投资者互动平台表示，目前，公司在液冷领域的产品主要包括 电子泵和温控阀系列产品，未来还将逐步拓展至集成模块产品。在技术方案层面，当前以冷板式液冷为 主，同时也在积极推进浸没式液冷技术的研发与应用。 ...

Core Viewpoint - The company has approved the continued use of temporarily idle raised funds and self-owned funds for cash management to enhance the efficiency of fund utilization [1][2] Group 1: Cash Management Approval - The company plans to use up to RMB 320 million (including previously used idle raised funds) and up to RMB 300 million of idle self-owned funds for cash management [1] - The approved amount is valid for 12 months from the date of board approval and can be used in a rolling manner within the specified limits [1] Group 2: Redemption of Cash Management Products - On August 12, 2025, Zhengzhou Flying Dragon used RMB 25.5 million and Wuhu Flying Dragon used RMB 31.5 million to purchase structured deposits from the Bank of China [3] - On August 13, 2025, Zhengzhou Flying Dragon used RMB 24.5 million and Wuhu Flying Dragon used RMB 29.5 million for similar purchases [3] - The cash management products have matured, and the company has redeemed a total of RMB 50 million from Zhengzhou Flying Dragon and RMB 61 million from Wuhu Flying Dragon, with total earnings exceeding RMB 200,000 [3]

Summary of Key Points Core Viewpoint - On September 24, Feilong Co., Ltd. experienced a decline of 7.21% in stock price, with a trading volume of 1.609 billion yuan, indicating market volatility and investor sentiment concerns [1]. Financing and Trading Data - On the same day, the financing buy-in amount for Feilong was 162 million yuan, while the financing repayment was 177 million yuan, resulting in a net financing outflow of 15.4 million yuan [1]. - As of September 24, the total margin trading balance for Feilong stood at 1.11 billion yuan, accounting for 7.62% of its circulating market value, which is above the 90th percentile of the past year, indicating a high level of leverage [1]. - In terms of securities lending, there were no shares repaid or sold on September 24, with a remaining short position of 100 shares and a short balance of 2,535 yuan, also above the 70th percentile of the past year [1]. Company Overview - Feilong Automotive Parts Co., Ltd. was established on January 9, 2001, and went public on January 11, 2011. The company specializes in the research, development, manufacturing, and sales of automotive parts [1]. - The revenue composition of the company includes: 48.69% from automotive engine thermal management energy-saving and emission-reduction components, 38.78% from important thermal management components, 8.57% from new energy thermal management components, 1.90% from liquid cooling thermal management components, 1.71% from other non-engine automotive parts, and 0.35% from other supplementary products [1]. Shareholder and Financial Performance - As of September 19, the number of shareholders for Feilong was 110,000, a decrease of 6.78% from the previous period, while the average circulating shares per person increased by 7.27% to 4,949 shares [2]. - For the first half of 2025, Feilong reported a revenue of 2.162 billion yuan, a year-on-year decrease of 8.67%, while the net profit attributable to the parent company was 210 million yuan, reflecting a year-on-year increase of 14.49% [2]. Dividend and Institutional Holdings - Since its A-share listing, Feilong has distributed a total of 1.074 billion yuan in dividends, with 502 million yuan distributed over the past three years [3]. - As of June 30, 2025, among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 3.3139 million shares, a decrease of 2.722 million shares from the previous period, while Penghua Innovation Future Mixed Fund (501205) entered as a new shareholder with 2.4752 million shares [3].