Group 1 - The company has over 40 HP projects in the server liquid cooling sector, including collaborations with Delta and Viavi [2] - The company has established connections with more than 40 clients in the server liquid cooling field, including HP, Shunling Environment, Yaho Electronics, Delta, Jinyun, Viavi, Haiwu, Shenzhen Xingqihong, Invec, Wanbang Digital, and Shuguang Digital Innovation [2] - More than 60 projects are currently being developed in an orderly manner, with some projects already having small batch shipments [2]

Group 1 - The company, Feilong Co., has confirmed its willingness to collaborate with both domestic and international quality clients and their suppliers in various fields, including automotive, charging piles, liquid cooling, and energy storage [1] - Currently, multiple projects with HP are underway, and some projects have already begun bulk supply [1]

Group 1 - The core point of the news is that Feilong Automotive Parts Co., Ltd. has seen a significant stock price increase of 5.21%, reaching 27.88 CNY per share, with a trading volume of 1.015 billion CNY and a turnover rate of 6.82%, resulting in a total market capitalization of 16.025 billion CNY [1] - Feilong's main business involves the research, development, manufacturing, and sales of automotive parts, with revenue composition as follows: 48.69% from energy-saving and emission-reducing components for engine thermal management, 38.78% from important components for engine thermal management, 8.57% from thermal management components for new energy vehicles, 1.90% from liquid cooling thermal management components, 1.71% from other non-engine automotive parts, and 0.35% from other supplementary products [1] Group 2 - From the perspective of fund holdings, one fund under Huatai PineBridge has a significant position in Feilong, with the Huatai Zhongzheng 2000 ETF holding 13,400 shares, accounting for 0.38% of the fund's net value, ranking as the fifth-largest holding [2] - The Huatai Zhongzheng 2000 ETF has a total scale of 52.1346 million CNY and has achieved a year-to-date return of 32.87%, ranking 1451 out of 4222 in its category, and an annual return of 84.16%, ranking 830 out of 3813 [2]

Group 1 - The core viewpoint of the news is that Feilong Automotive Parts Co., Ltd. experienced a decline in stock price, with a drop of 5.04% to 26.36 yuan per share, and a total market capitalization of 15.151 billion yuan [1] - Feilong's main business involves the research, development, manufacturing, and sales of automotive parts, with revenue composition including 48.69% from engine thermal management energy-saving components, 38.78% from important engine thermal management components, and 8.57% from new energy thermal management components [1] - The trading volume for Feilong shares was 1.116 billion yuan, with a turnover rate of 7.62% [1] Group 2 - From the perspective of fund holdings, the Huatai-PineBridge fund has a significant position in Feilong, with the Huatai-PineBridge CSI 2000 ETF holding 13,400 shares, representing 0.38% of the fund's net value, ranking as the fifth-largest holding [2] - The Huatai-PineBridge CSI 2000 ETF was established on September 13, 2023, with a latest scale of 52.1346 million yuan and has achieved a year-to-date return of 33.95% [2] - The fund manager, Sun Hao, has been in position for 2 years and 23 days, with the fund's total asset size at 13.434 billion yuan and a best return of 125.28% during his tenure [3]

Core Insights - The company, Feilong Co., has achieved over 90% self-manufacturing rate for its electronic pump series products, including injection molding, motors, and chip placement [2] - Feilong Co. primarily supplies electronic pumps, thermal control valves, and integrated modules for pure electric vehicles, and exhaust manifolds, turbine housings, electronic pumps, thermal control valves, and integrated modules for hybrid vehicles [2] - The company is advancing thermal management technology integration with various cutting-edge fields such as server liquid cooling, data center liquid cooling, artificial intelligence liquid cooling, and more [2] - Major clients for the new energy thermal management integrated module products include Chery, Nanjing Automobile, Li Auto, Geely, Lantu, and SAIC, with some client projects already in mass production and a year-on-year increase in orders for this product line [2]

Core Viewpoint - The company has approved the use of temporarily idle raised funds and self-owned funds for cash management to improve the efficiency of fund utilization [1] Group 1: Fund Management Approval - The company and its subsidiaries are allowed to use up to RMB 320 million (including previously used idle raised funds) for cash management [1] - An additional amount of up to RMB 300 million of idle self-owned funds can also be used for cash management [1] - The approved amounts are valid for 12 months from the date of the board's approval and can be used in a rolling manner within the specified limits [1] Group 2: Previous Cash Management Activities - On September 4, 2025, the company used RMB 50 million of idle self-owned funds to purchase structured deposits from China Minsheng Bank [2] - The cash management product matured, and the company recovered the principal of RMB 50 million along with an additional income of over RMB 30,000 [2]

Group 1 - The company has approved the use of idle funds for cash management, allowing up to RMB 320 million of temporarily idle raised funds and up to RMB 300 million of idle self-owned funds for cash management within 12 months [1][2] - The company redeemed a structured deposit of RMB 50 million from China Minsheng Bank, yielding a return of over RMB 30,000 upon maturity [3][4] - The cash management program aims to enhance the efficiency of fund utilization without affecting ongoing projects and normal operations [1][2] Group 2 - The board of directors and the supervisory board have confirmed the accuracy and completeness of the information disclosed [1] - The company will ensure that the redeemed funds will be returned to the designated account for raised funds promptly [1][4] - Relevant documents regarding the cash management redemption are available for review [5]

Company Overview - Feilong Automotive Parts Co., Ltd. has over 70 years of history, established in 1952, focusing on thermal management system solutions [1] - The company has two development phases: - Before 2017: Focused on automotive thermal management components like mechanical water pumps and turbocharger housings [1] - Since 2017: Expanded into non-automotive sectors while continuing to develop automotive thermal management products [1][2] Product Development and Market Reach - The company has established four R&D centers in Shanghai, Wuhu, Nianxiang, and Xixia, focusing on new energy thermal management components [1][2] - Products are sold nationwide and exported to over 200 domestic and international clients, serving more than 300 factory bases globally [2] Investment and Product Strategy - The company is integrating thermal management technology with various sectors, including AI, 5G, and renewable energy [3] - No additional investments in domestic automotive engine thermal management products are planned, aside from the existing subsidiary in Thailand [3] New Energy Vehicle Products - Supplies electronic pumps, temperature control valves, and integrated modules for pure electric vehicles, and exhaust manifolds for hybrid vehicles [4] Manufacturing and Supply Chain - The self-manufacturing rate of electronic pump products exceeds 90%, with key components produced in-house [5] - Major clients for new energy thermal management integrated modules include Chery, Nanjing Automobile, and Geely, with increasing orders year-on-year [5] Competitive Advantages and Market Position - The company holds a unique market position in the liquid cooling sector due to its first-mover advantage and customer-centric platform design [6] - Focuses on customized development to meet diverse client needs, offering high-performance, lightweight, and cost-effective products [6] Global Strategy and Risk Management - The company is enhancing its global strategy by establishing a production base in Thailand to mitigate risks from U.S. tariff policies [7] - The first overseas smart factory in Thailand was completed on June 26, 2025, aimed at expanding into Southeast Asia and North America [7]

证券代码：002536 证券简称：飞龙股份 公告编号：2025-074 飞龙汽车部件股份有限公司 关于使用闲置自有资金进行现金管理到期赎回的公告 飞龙汽车部件股份有限公司（以下简称"公司""飞龙股份"）于 2024 年 10 月 13 日召开第八届董事会第十次会议、第八届监事会第九次会议，审议通过 《关于继续使用暂时闲置募集资金及自有资金进行现金管理的议案》。为提高公 司募集资金的使用效率，在不影响募集资金投资项目建设和公司及子公司正常经 营的情况下，同意公司及子公司使用不超过人民币 3.2 亿元（含本数，含前次使 用部分暂时闲置募集资金进行现金管理尚未到期的部分）的暂时闲置募集资金和 不超过 3 亿元（含本数）的闲置自有资金进行现金管理。上述额度自董事会审议 通过之日起 12 个月内有效，在前述额度和期限范围内可循环滚动使用，暂时闲 置募集资金现金管理到期后将及时归还至募集资金专户。 | 郑州 | 郑州银行 | 协定存款 | 保本保收益型 | 3,700 | 暂时闲置 | 2024 年 5 | 2024 年 10 | 是 | | --- | --- | --- | --- | --- | --- | --- ...

Group 1 - The company is currently focusing on cold plate technology in the liquid cooling field while actively promoting the research and application of immersion cooling technology [2] - The company aims to continuously align with market demands and choose development directions that are in line with industry trends and suitable for its own growth [2]