Group 1: Report Basic Information - The report is about a research on Tianlong Co., Ltd. in the plastics products industry on July 30, 2025 [1][2][17] - The participating research institution is Hua'an Fund [2][20] Group 2: Company Overview - Tianlong Co., Ltd. is a leading one - stop integrated solution provider for precision molds, injection molding, and assembly. It focuses on precision mold development, high - complexity injection molding processes, and automated assembly technology, aiming for "electronically integrated, precise, and lightweight" development [22] - About 85% of its revenue comes from automotive parts business, and its products are mainly used in automotive parts and electrical appliances [22] - Since its establishment in 2000, the company has established a national strategic layout with production bases in major industrial clusters in China and a new one in Thailand [22] - It currently has 10 wholly - owned subsidiaries and 3 branches [22] Group 3: Business Progress Xiaomi Automobile Supply - The company has product projects in the door system, lighting system, thermal management, and domain control areas for Xiaomi Automobile and will actively seek more projects [22] Thailand Production Base - The infrastructure of the Thailand production base is mostly completed, with most equipment in place and production starting. It will strive for more overseas orders [23] Automotive Electronics Business - The company focuses on developing highly integrated electronic products in the new energy vehicle's three - electric and intelligent networking fields. The electronic water pump business in thermal management products is stable, and the customized IGBT functional carrier module (without chips) is in mass production for both domestic and overseas markets [23] - It has developed new products such as fisheye connectors and BDU components and won customer project approvals [24] Business with Nidec - Nidec is one of the company's key customers, and they have cooperation in the motor parts field [24] Fisheye Terminal Product - Fisheye terminals can achieve electromechanical interconnection without welding, with advantages such as low contact resistance. The company has developed multiple specifications since 2023 and is exploring new markets [24] PEEK Material Application - The company uses PEEK material in individual new automotive electronic parts projects, mainly in the automotive braking system [24] Group 4: Company Advantages and Future Plans Competitive Advantages - The company is a leading one - stop integrated solution provider in precision manufacturing, focusing on global leading customers, participating in early - stage product design, and providing cost - competitive, high - quality products and fast - response services [25] Future Plans - The company will focus on developing highly integrated electronic components in the new energy vehicle's three - electric fields [22] - It will pay attention to changes in the industry and customer - side business, seeking potential cooperation opportunities in emerging industries such as humanoid robots [25]