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]

Core Viewpoint - The company is focusing on liquid cooling technology, primarily using cold plate solutions while also advancing research and application of immersion cooling technologies [1] Group 1 - The company is actively responding to market demands and is committed to selecting industry trends that align with its development direction [1] - The company aims to steadily advance its initiatives in the liquid cooling sector [1]

Group 1 - The core viewpoint of the article is that Feilong Co., Ltd. is currently focusing on the liquid cooling sector, specifically developing electronic pumps and temperature control valve series products, with plans to gradually expand into integrated module products [1] Group 2 - The company is actively engaging with investors through an interactive platform to communicate its product developments and future plans [1] - The current product offerings in the liquid cooling field highlight the company's commitment to innovation and market expansion [1]

Company Overview - Feilong Automotive Parts Co., Ltd. is located in Xixia County, Henan Province, established on January 9, 2001, and listed on January 11, 2011. The company specializes in the research, development, manufacturing, and sales of automotive parts and mechanical products [2] - The revenue composition of the company includes: 48.69% from automotive engine thermal management energy-saving and emission-reduction components, 38.78% from important components of automotive engine thermal management, 8.57% from automotive 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 sources [2] Financial Performance - For the first half of 2025, Feilong achieved operating 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 growth of 14.49% [2] - Since its A-share listing, the company has distributed a total of 1.074 billion yuan in dividends, with 502 million yuan distributed over the past three years [3] Stock Performance - As of September 17, Feilong's stock price increased by 2.03% to 26.67 yuan per share, with a total market capitalization of 15.33 billion yuan. The stock has risen 136.44% year-to-date, with a recent 5-day increase of 0.72% and a 20-day decrease of 16.97% [1] - The company has appeared on the trading leaderboard five times this year, with the most recent appearance on August 21, where it recorded a net buy of -59.8828 million yuan [1] Shareholder Information - As of September 10, the number of shareholders for Feilong reached 118,000, an increase of 11.32% from the previous period, while the average circulating shares per person decreased by 10.17% to 4,613 shares [2] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the sixth largest, holding 3.3139 million shares, a decrease of 2.722 million shares from the previous period. Penghua Innovation Future Mixed Fund (501205) is the seventh largest shareholder, holding 2.4752 million shares as a new entrant [3]

Core Viewpoint - The liquid cooling sector is gaining traction due to the increasing demand for cooling solutions in AI and high-performance computing, with significant growth expected in the market over the next few years [6][7][9]. Group 1: Market Trends - The global AI liquid cooling market is projected to reach $8.6 billion by 2026, indicating rapid market growth [7]. - In China, the liquid cooling market for intelligent computing centers is expected to reach 18.4 billion yuan in 2024, a 66.1% increase from 2023, and could grow to approximately 130 billion yuan by 2029 [7]. Group 2: Company Performance - Silver Wheel Co. (银轮股份) has the highest institutional ratings at 29, with a stock price increase of over 114% this year. The company is expected to see net profit growth of 35.29% in 2025 and 26.16% in 2026 [9]. - Other companies like Inspur Information (浪潮信息) and Invech (英维克) are also projected to have net profit growth rates exceeding 20% in the coming years [9]. Group 3: Technological Developments - NVIDIA is pushing suppliers to develop microchannel liquid cooling plates (MLCP) to address the rising heat from AI GPU chips, with prices 3 to 5 times higher than traditional cooling solutions [6]. - Liquid cooling is becoming the mainstream solution due to its efficiency and ability to handle the increasing power density of chips, as traditional air cooling methods are no longer sufficient [6][7]. Group 4: Company Initiatives - New Zobang (新宙邦) is actively participating in setting standards for liquid cooling and has developed mature products for various data center applications [8]. - High Lan Co. (高澜股份) offers a range of liquid cooling solutions and aims to maintain a Power Usage Effectiveness (PUE) of below 1.1 [8].

Group 1 - The company established a subsidiary, Anhui Hangyi Technology Co., Ltd., in Wuhu, Anhui, focusing on the research, production, and sales of liquid cooling pumps for data centers, renewable energy storage, and charging piles, with a power range of 16W to 22kW [2] - The company has over 40 clients in the liquid cooling sector, including HP, Shunling Environment, and Delta, and has a maximum production capacity of 1.2 million electronic pumps per year to meet the growing demand [2] - Currently, the company is involved in over 120 projects in the liquid cooling field, with some already in mass production, and is integrating thermal management technology with various advanced sectors such as AI cooling, 5G base stations, and renewable energy [2] Group 2 - In the first half of the year, the company reported revenue of 2.162 billion yuan, a year-on-year decrease of 8.67%, while net profit attributable to shareholders increased by 14.49% to 210 million yuan [3] - The company's net profit excluding non-recurring items reached 218 million yuan, reflecting a year-on-year growth of 24.65% [3]

Core Viewpoint - The company has established a subsidiary focused on liquid cooling pump development and production for various applications, with initial projects already in small-scale supply [1]. Group 1: Company Developments - The company, Feilong Co., Ltd. (002536.SZ), announced the establishment of Anhui Hangyi Technology Co., Ltd. in Wuhu, Anhui, in July 2025 [1]. - The new subsidiary will concentrate on the research, production, and sales of liquid cooling pumps for data centers, renewable energy storage, and charging stations [1]. - The company aims to provide a full range of solutions covering power ranges from 16W to 22kW, focusing on core products for IDC liquid cooling circulation pumps [1]. Group 2: Production and Supply - Some projects have already commenced small-batch supply, indicating progress in production capabilities [1].

Core Viewpoint - The company, Feilong Co., is actively involved in the liquid cooling sector, supplying electronic liquid cooling pumps to various clients, including potential connections to NVIDIA's GB300 liquid cooling system [1] Group 1: Company Operations - Feilong Co. has established connections with over 40 clients in the liquid cooling field, including notable names such as HP, Delta, and NVIDIA [1] - The company currently has a maximum production capacity of 1.2 million electronic pumps per year for the civilian sector, which is sufficient to meet the rapid growth in liquid cooling business [1] - Future production capacity adjustments will be made based on customer demand [1] Group 2: Client Relationships - The company is in contact with various clients for its thermal management products in the liquid cooling domain, indicating a broad market presence [1] - Specific details regarding client relationships can be found in the company's "2025 Semi-Annual Report" [1]

Core Viewpoint - Feilong Automotive Parts Co., Ltd. has shown significant stock performance with a year-to-date increase of 130.23%, despite a recent decline over the past 20 days [1][2]. Group 1: Stock Performance - On September 16, Feilong's stock price increased by 2.00%, reaching 25.97 CNY per share, with a trading volume of 1.80 billion CNY and a turnover rate of 1.29%, resulting in a total market capitalization of 149.27 billion CNY [1]. - The stock has experienced a 5.01% increase over the last five trading days, a 20.70% decrease over the last 20 days, and a 78.24% increase over the last 60 days [1]. - The company has appeared on the "Dragon and Tiger List" five times this year, with the most recent appearance on August 21, where it recorded a net buy of -59.88 million CNY [1]. Group 2: Company Overview - Feilong was established on January 9, 2001, and went public on January 11, 2011, focusing on the research, development, manufacturing, and sales of automotive parts [2]. - The revenue composition includes: 48.69% from automotive engine thermal management energy-saving 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 sources [2]. - As of September 10, the number of shareholders increased to 118,000, with an average of 4,613 circulating shares per person, a decrease of 10.17% [2]. Group 3: Financial Performance - For the first half of 2025, Feilong reported a revenue of 2.162 billion CNY, a year-on-year decrease of 8.67%, while the net profit attributable to the parent company was 210 million CNY, reflecting a year-on-year growth of 14.49% [2]. - The company has distributed a total of 1.074 billion CNY in dividends since its A-share listing, with 502 million CNY distributed over the past three years [3]. Group 4: Shareholder Information - As of June 30, 2025, the sixth largest circulating shareholder is Hong Kong Central Clearing Limited, holding 3.3139 million shares, a decrease of 2.722 million shares from the previous period [3]. - Penghua Innovation Future Mixed Fund (501205) is a new shareholder, ranking as the seventh largest circulating shareholder with 2.4752 million shares [3].

Core Viewpoint - Feilong Automotive Parts Co., Ltd. has experienced significant stock price fluctuations and changes in shareholder structure, reflecting both growth and challenges in its business operations [1][2][3]. Financial Performance - As of September 15, Feilong's stock price was 25.51 CNY per share, with a market capitalization of 14.663 billion CNY. The stock has increased by 126.15% year-to-date, but has seen a 21.70% decline over the past 20 days [1]. - For the first half of 2025, Feilong reported revenue of 2.162 billion CNY, a year-on-year decrease of 8.67%, while net profit attributable to shareholders was 210 million CNY, reflecting a year-on-year increase of 14.49% [2]. Shareholder Structure - As of September 10, the number of shareholders increased to 118,000, with an average of 4,613 shares held per shareholder, a decrease of 10.17% from the previous period [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which reduced its holdings by 2.722 million shares, and Penghua Innovation Future Mixed Fund, which is a new shareholder with 2.4752 million shares [3]. Business Overview - Feilong specializes in the research, development, manufacturing, and sales of automotive parts, with its main revenue sources being engine thermal management components (48.69%) and important thermal management parts (38.78%) [2]. - The company is categorized under the automotive industry, specifically in the automotive parts sector, and is involved in various concept sectors including Changan Automobile, thermal management, and robotics [2]. Market Activity - The stock has appeared on the trading leaderboard five times this year, with the most recent instance on August 21, where it recorded a net buy of -59.8828 million CNY [1].