Core Viewpoint - After reaching a historical high of 34.3 CNY per share on August 19, 2023, Feilong Co., Ltd. (stock code: 002536.SZ) experienced a three-month correction, during which its market value evaporated by tens of billions. However, the stock price has rebounded significantly, and only a 2% increase is needed to set a new record [2][12]. Stock Performance - Following a four-day streak of price increases, Feilong Co. hit a historical high of 34.3 CNY per share and a closing price of 32.75 CNY per share on August 19. The stock then fell to a low of 20.2 CNY per share, resulting in a market value loss of 70 billion CNY. Since the low on November 24, the stock price has risen to 33.55 CNY per share, with a peak of 34.22 CNY, marking a 69.41% increase from the lowest point [12][13]. - The company's total market value surged from 11.898 billion CNY to 19.28 billion CNY, an increase of over 62.04% in one month, making it the top-performing stock in Henan province (excluding new stocks) [4][15]. - Year-to-date, Feilong Co.'s stock price has increased by 197.43%, ranking fourth among Henan-listed companies and eleventh in its industry [4][15]. Institutional Interest - The strong stock performance has attracted significant institutional interest, with Feilong Co. hosting 38 investor research groups and receiving visits from 500 institutions since March 2023 [6][17]. Product Strengths - Founded in 1952, Feilong Co. specializes in thermal management system solutions and has established a national-level enterprise technology center with four R&D centers in Shanghai, Wuhu, Neixiang, and Xixia. The company focuses on developing electronic pump and temperature control valve products, expanding into electromagnetic valves and integrated thermal management modules [6][18]. - The electronic pump products cover a power range from 8W to 40kW and are compatible with voltage platforms from 12V to 1500V. The temperature control valve products include various customized solutions based on client needs [18]. Market Opportunities - Feilong Co.'s electronic pump products have a broad customer base, extending beyond the automotive sector to include applications in 5G base stations, communication devices, server liquid cooling, and more. The server liquid cooling segment has been particularly noteworthy, driving stock price increases [19][20]. - The liquid cooling market for data centers is projected to reach 16.5 billion USD (approximately 116.2 billion CNY) by 2026, with a compound annual growth rate (CAGR) of about 59% from 2025 to 2026. Feilong Co. has established partnerships with over 40 leading companies in this field [20][21]. Production Capacity - Feilong Co. has production lines in place for its liquid cooling products, capable of meeting rapid customer demand. The company plans to dynamically adjust production capacity in response to market developments. By October 2025, it is expected to have established connections with over 80 major clients and have more than 120 ongoing projects, with some already in mass production [22].