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 [1] - The company has two main development phases: before 2017, focusing on automotive thermal management components; and from 2017 onwards, expanding into non-automotive markets [2] Group 2: Product Development and Market Position - The company has developed key products such as mechanical water pumps, exhaust manifolds, and electronic pumps, with water pumps and exhaust manifolds recognized as manufacturing champions by the Ministry of Industry and Information Technology [2] - The company serves over 200 domestic and international clients, with products sold across various regions including the Americas, Europe, and Southeast Asia [2] Group 3: Market Share and Clientele - The company’s exhaust manifold product ranks among the top in domestic market share, having won the manufacturing champion title in 2024 [3] - In the electric vehicle sector, each vehicle typically requires 2-5 electronic pumps, depending on the model and technical configuration [4] Group 4: Server Liquid Cooling Projects - The company has established a specialized team for server liquid cooling, supplying electronic pumps and temperature control valves, with some projects already in mass production [5] - Current clients in the server liquid cooling sector include over 30 companies, such as HP and Inspur [6] Group 5: Future Directions and Innovations - The company is exploring opportunities in the robotics sector, leveraging its existing products like electronic pumps and valves [6] - In the civil sector, the company plans to establish a new subsidiary focused on civil product production, with an expected annual capacity of up to 1.2 million units [6] - The maximum power of the electronic pump has been increased to 40KW, enhancing its competitive edge in the market [6]

Group 1: Research Basic Information - The research object is Feilong Co., Ltd., belonging to the automotive parts industry, and the reception time was May 20, 2025. The listed company's reception staff included Deputy General Manager and Board Secretary Xie Guolou, and Securities Affairs Representative Xie Kun [17] Group 2: Detailed Research Institutions - The reception object type is investment company, and the institution is Danshuiquan Investment. The relevant personnel are Lü Peijin and Liu Yaoyang [20] Group 3: Company Overview - Feilong Automobile Parts Co., Ltd. was founded in 1952 and has a history of over 70 years. It is a listed company dedicated to thermal management system solutions. Its development is divided into two stages. Before 2017, it focused on R & D, production, and sales of automotive thermal management component products. Since 2017, it has expanded into non - automotive fields. It has a national - level enterprise technology center and four R & D centers. Its products are sold nationwide and exported to regions such as the Americas, Europe, and Southeast Asia, serving over 200 domestic and foreign customers and more than 300 factory bases globally [22] Group 4: Investor Interaction Q&A - Each new energy vehicle generally requires about 2 - 5 electronic water pumps, mainly used in the motor, electronic control, and battery of the vehicle [23] - The customers of the company's new energy thermal management integrated module products include Chery, Li Auto, SAIC, and Voyah, and some projects have been mass - produced [24] - The company has formed a professional technical and marketing team for the server liquid - cooling field, supplying electronic water pumps and temperature control valve series products, with some projects in mass supply. There are also projects in communication for thermal management integrated module products [25] - The company's business in the robot parts field is still in the R & D stage, with uncertainties [26] - On May 14, 2024, China and the United States announced a significant reduction in bilateral tariff levels. The company's export volume to the US market in 2024 accounted for about 10% of its revenue, and the current tariffs have little impact on the company's overall operation. The company is taking measures such as promoting the construction of the Thai production base and deepening the international market diversification strategy [27] - The company's competitive advantages in the civilian field include a first - mover advantage with nearly 10 years of experience, over 100 ongoing projects, and some mass - produced; a customer advantage with over 70 customers; and application scenario expansion in multiple thermal management - related fields [29]

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 [1] - The company has two main development phases: before 2017 focused on automotive thermal management components, and from 2017 onwards, expanding into non-automotive sectors [1] - Key products include mechanical water pumps, exhaust manifolds, turbocharger housings, electronic pumps, temperature control valves, and thermal management modules, with significant achievements in overseas markets [1][2] Group 2: Product Development and Market Reach - Each new energy vehicle typically requires 2-5 electronic water pumps, primarily used in motors, controls, and batteries [2] - The company serves over 200 domestic and international clients, with products exported to the Americas, Europe, and Southeast Asia, supporting more than 300 factory bases globally [2] - Current clients for new energy thermal management integrated modules include Chery, Li Auto, SAIC, and Lantu, with some projects already in mass production [2] Group 3: Strategic Responses and Competitive Advantages - The company has a 10% revenue exposure to the U.S. market, with minimal impact from recent tariff changes, and is actively relocating production to Thailand to mitigate risks [2] - Competitive advantages in the civilian sector include nearly 10 years of experience, a strong client base of over 70 companies, and diverse application scenarios across various industries [3] - Ongoing projects in the civilian sector exceed 100, with some already in mass production, showcasing the company's robust technological foundation [3]