Core Viewpoint - The strategic cooperation between Feilong Co., Ltd. and Huada Technology aims to enhance their competitive edge in the rapidly growing markets of new energy vehicles and AI computing power, focusing on thermal management technology [1][3]. Group 1: Strategic Cooperation - Feilong Co., Ltd. and Huada Technology will collaborate on the development, production, and sales of core components and integrated solutions in the fields of new energy vehicles, energy storage, and data center thermal management [1][2]. - The partnership will leverage Feilong's strong R&D capabilities and customer base in new energy thermal management components, alongside Huada's expertise in stamping, profiles, and die-casting [1][2]. - Both companies will establish a joint team to accelerate project development and consider joint office arrangements [2]. Group 2: Development Focus - Feilong will support Huada in the development of intelligent AI casting temperature control systems and related thermal management components, while Huada will assist Feilong in the new energy vehicle and energy storage sectors [2]. - The intellectual property rights for jointly developed thermal management products will belong to Feilong, while those for stamping, piping, and die-casting will belong to Huada [2]. Group 3: Financial Performance - In the fiscal year 2024, Feilong achieved a revenue of 4.723 billion yuan, representing a year-on-year growth of 15.34%, and a net profit of 330 million yuan, with a growth of 25.92% [4]. - The growth in revenue was driven by the increasing penetration of hybrid vehicle models and rising export demand for turbocharger housings, alongside breakthroughs in the new energy thermal management components [4].

Group 1: Company Overview - Feilong Automotive Parts Co., Ltd. has over 70 years of development history, 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][2] - The company has established four R&D centers in Shanghai, Wuhu, Nanyang, and Xixia, with a focus on new energy thermal management components [2] Group 2: Product Development and Market Reach - The company has over 200 domestic and international clients, serving more than 300 factory bases globally [2] - Current R&D projects exceed 100, covering various applications in both automotive and civilian sectors [2] - The company is prioritizing new energy thermal management products, such as electronic pumps and temperature control valves, while expanding into civilian markets [3] Group 3: Financial and Strategic Insights - The company is implementing a dual-line penetration strategy in automotive and industrial sectors to enhance profitability [3] - The average price of electronic pump products in the civilian sector is slightly higher than in the automotive sector due to market potential and technology [2] - The overseas production base in Thailand is expected to enter trial production by the end of June 2025 [2]