每经AI快讯，有投资者在投资者互动平台提问：看新闻说，贵公司中标了新加坡英伟达的液冷服务器 项目，并且贵公司新成立的新加坡子公司也是为了这个项目而成立的，请问这个是真的假的？ 高澜股份（300499.SZ）8月20日在投资者互动平台表示，关于公司的客户情况请关注公司公告。公司本 次设立新加坡全资子公司，主要承接新加坡及东南亚地区的服务器液冷业务需求，有利于开拓东南亚及 全球市场，搭建公司海外平台，进一步提高公司对海外项目的服务支持力度。 （记者 王晓波） ...

Core Insights - The company is actively expanding its thermal management technology into emerging applications, particularly in the server liquid cooling sector and data centers [2] - The company has established close partnerships with Delta Electronics and Inspur, which are key providers of liquid cooling solutions for NVIDIA AI servers [2] Group 1 - The company is extending its thermal management technology applications from automotive to various high-tech fields, including server liquid cooling, data center liquid cooling, artificial intelligence, charging pile liquid cooling, robotics liquid cooling, 5G base stations and communication equipment, hydrogen energy liquid cooling, wind and solar energy storage liquid cooling, electrical equipment, modern agricultural machinery, large machinery industrial liquid cooling, and low-altitude economy [2] - The company has entered a stage of gradual mass supply for these applications [2]

飞龙股份8月12日报收22.25元，较前一交易日下跌0.61元，跌幅2.67%。当日开盘价为22.48元，最高触 及23.40元，最低下探21.91元，成交量为108.59万手，成交金额达24.44亿元。 公司近期消息显示，其液冷技术应用已从汽车领域拓展至多个前沿领域，目前合作客户达80家，进行中 项目超过120个。公司首个海外生产基地泰国工厂已于6月竣工试生产，将作为全球化战略的重要支点。 2025年上半年，公司实现营业收入21.62亿元，净利润2.10亿元，同比增长14.49%。 资金流向方面，8月12日主力资金净流出9386.65万元，占流通市值的0.77%。近五个交易日累计主力资 金净流出3.28亿元，占流通市值的2.71%。 风险提示：股市有风险，投资需谨慎。 飞龙股份是一家专注于热管理系统解决方案的企业，产品涵盖汽车热管理部件、液冷技术应用等领域。 公司近年来积极拓展非汽车业务，布局服务器液冷、数据中心、人工智能等新兴市场。 ...

（文章来源：证券日报） 证券日报网讯飞龙股份8月8日在互动平台回答投资者提问时表示，公司电子泵及温控阀系列产品可以应 用在服务器液冷领域，已初显成效。 ...

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: prior to 2017 focused on automotive thermal management components, and from 2017 onwards, expanding into non-automotive sectors [1][2] Group 2: Product Development and Market Reach - The company has developed key products such as mechanical water pumps, exhaust manifolds, and electronic pump series, with automotive water pumps and turbocharger housings recognized as national champions [1] - Products are sold nationwide and exported to over 200 domestic and international clients, serving more than 300 factory bases globally [2] Group 3: Financial Expectations and Growth Drivers - For the second half of 2025, the company expects revenue improvement driven by new overseas projects, growth in orders for new energy vehicle integrated modules, and increased sales of liquid cooling products [3] - The company is not considering additional investments in automotive engine thermal management products domestically [3] Group 4: Client Base and Product Value - The electronic pump series has over 130 major clients, including Chery, Li Auto, and VinFast [3] - The value of thermal management integrated modules is significantly higher than traditional single-component products, varying based on product structure [3] Group 5: Liquid Cooling Sector Developments - A new subsidiary, Anhui Hangyi Technology Co., Ltd., has been established to focus on liquid cooling pumps for data centers and charging stations [4][5] - The company is actively expanding its overseas market for server liquid cooling products, particularly through clients in Taiwan [5] Group 6: Profitability and Competitive Advantages - The company implements a dual-line penetration strategy in automotive and industrial sectors to enhance profitability [5] - Key competitive advantages in the liquid cooling sector include nearly 10 years of experience, a client base of over 80 companies, and diverse application scenarios across various industries [5]

Summary of the Conference Call for Feilong Co., Ltd. Company Overview - Feilong Co., Ltd. has shown steady growth in its main business, with a significant compound profit growth rate over the past three years, expecting a profit of approximately 400 million RMB this year, with a current market capitalization of over 8 billion RMB, reflecting the value of its main business [2][4] Key Points - **Market Position in Liquid Cooling Pumps**: Feilong Co. holds a monopoly in the server liquid cooling pump sector, being the only company in China capable of mass production of liquid cooling pumps. The company is benefiting from the domestic server liquid cooling market led by S clients, with expected domestic business profits reaching tens of millions of RMB this year and a potential growth of over 50% next year [2][4] - **Overseas Orders**: The company has achieved breakthroughs in overseas server liquid cooling pump orders through leading Taiwanese integrators, with expectations of large volume orders in the next 1-3 months, significantly enhancing the profit elasticity for the next year [2][4] - **Potential in PC Liquid Cooling**: Feilong Co. has potential in the personal computer (PC) liquid cooling sector. With the increasing demand for AI and high computing power, related products are expected to emerge this year. Even a 10% penetration rate could lead to a market scale in the tens of millions [2][4] - **Robotics Business Development**: The company is strategically positioned in the robotics sector, maintaining close relationships with automotive companies such as Xiaomi, Xiaopeng, and Chery. This could lead to advancements in humanoid robotics, providing new growth points and valuation increases for the company [2][4][5] - **Positive Mid-Year Report**: The mid-year report showed good performance, with smooth progress in overseas liquid cooling pumps, potential PC liquid cooling solutions, and developments in the robotics business. These factors are expected to continuously drive the stock price upward [2][5] Additional Insights - **Valuation**: Feilong Co. is currently undervalued, presenting investment opportunities worth monitoring and allocation, both in the short and long term [3][5] - **Catalysts for Growth**: Key catalysts for the third quarter of 2025 include the company's main business segments, which can maintain a compound profit growth rate of 15% to 20% annually, alongside the anticipated growth in liquid cooling pumps and robotics [4][5]

Core Viewpoint - Feilong Automotive Parts Co., Ltd. is leveraging its advantages in automotive thermal management to expand into the server liquid cooling market, aiming to enhance profitability and capture market share [1][2]. Group 1: Company Strategy and Market Position - The company has transitioned from automotive thermal management to the server liquid cooling sector, utilizing its expertise in electronic water pumps and temperature control valves [1][2]. - Feilong has established connections with approximately 70 targeted clients in the server liquid cooling field, with over 100 ongoing projects, some of which are already in mass production [1][2]. - The company is actively expanding its production capacity and exploring international markets, including a new production facility in Thailand expected to start trial production by the end of June [2][3]. Group 2: Market Growth and Opportunities - The liquid cooling technology is gaining traction due to the rapid growth of the computing power market, with IDC forecasting a compound annual growth rate of 46.8% for China's liquid cooling server market from 2024 to 2029, reaching a market size of $16.2 billion by 2029 [1]. - Feilong's recent increase in orders for civilian sector products indicates a positive growth trajectory, with expectations for continued growth in customer base and orders over the next two years [3]. - The company has made significant market breakthroughs by securing orders from a globally recognized power electronics and energy management solutions provider, marking a key advancement in the high-power water pump sector [3].

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]