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 markets [2] Product Development and Market Expansion - The company has established four R&D centers in Shanghai, Wuhu, Neixiang, and Xixia, with a focus on new energy thermal management components [2] - Currently, the company serves over 200 domestic and international clients, covering more than 300 factory bases globally [2] Key Products and Clients - Major products supplied overseas include turbine housings, exhaust manifolds, mechanical pumps, and electronic pumps, with over 50 international clients such as BorgWarner, Cummins, and Daimler [2] - The company’s turbine housing products are applicable to both fuel and hybrid vehicles, with expected sales growth in the next two years [2] New Energy Vehicle (NEV) Components - NEVs typically require 2-5 electronic pumps, depending on vehicle specifications, primarily used in electric motors, controls, and batteries [3] - The company supplies electronic pumps, temperature control valves, and integrated modules for pure electric vehicles, and exhaust manifolds and turbine housings for hybrid vehicles [2] Future Growth and Market Strategy - The electronic pump product line has significant growth potential in various sectors, including 5G base stations, AI cooling, and renewable energy applications [6] - The company plans to establish a new subsidiary focused on civil products, with an expected annual production capacity of 1.2 million units [6] Competitive Advantages - The company leverages first-mover advantages, customer relationships, and platform-based design to establish a unique market position in the civil sector [6] - Custom development tailored to specific customer needs ensures high-quality, lightweight, and cost-effective products [6] Impact of External Factors - The company anticipates a 10% revenue contribution from the U.S. market in 2024, with minimal impact from current tariffs due to strategic adjustments [6] - Measures include accelerating the construction of a production base in Thailand and diversifying international market strategies to enhance competitiveness [6]