编号：2025-036 证券代码：002536 证券简称：飞龙股份 飞龙汽车部件股份有限公司投资者关系活动记录表 | ☑ | 特定对象调研 | □分析师会议 | | --- | --- | --- | | 投资者关系活动 | □媒体采访 | □业绩说明会 | | 类别 | □新闻发布会 | □路演活动 | | | □现场参观 ☑ | 其他（券商策略会及反路演） | | 参与单位名称及 人员姓名 | | | | | 中信证券：易方达基金，国寿安保基金，平安资产，源乐晟基金， 中庚基金，重阳战略，真科基金，财信证券，五矿证券，拾贝投资， | | | | 松熙私募等； | | | | 国盛证券：太平养老基金，富安达基金，银华基金，西部利得基金， | | | | 长安基金，光大保德基金，恒信资本，弥远投资，棕榈湾投资等； | | | | 财通证券：长城基金； | | | | 长江证券：南方基金，鹏华基金，景顺长城基金。 | | | 时间 | 2025 年 11 月 12 日—11 月 13 | 日 | | 地点 | 中信证券策略会、国盛证券策略会、财通证券策略会及反路演地点 | | | 上市公司接待人 | 副总经理、 ...

Company Overview - Feilong Automotive Components Co., Ltd. has over 70 years of development history, focusing on thermal management system solutions [2] - The company has two main development phases: prior to 2017, focusing on automotive thermal management components; and from 2017 onwards, expanding into civilian market clients [3] Product Development and Market Reach - The company has established four R&D centers in Shanghai, Wuhu, Neixiang, and Xixia, with a focus on new energy thermal management components [3] - Products are sold nationwide and exported to over 200 domestic and international clients, serving more than 300 factory bases globally [3] Key Products and Applications - Major overseas products include turbine housings and exhaust manifolds, with over 50 key clients such as BorgWarner, Cummins, and Ford [3] - The turbine housing product, recognized as a manufacturing champion by the Ministry of Industry and Information Technology in 2024, is crucial for both traditional and new energy vehicles [3] New Energy Vehicle Product Layout - The company supplies electronic pump series, temperature control valves, and integrated modules for pure electric vehicles, and exhaust manifolds for hybrid vehicles [4] Liquid Cooling Sector - The liquid cooling product line includes electronic pumps, thermal management control valves, and sensors, with several products entering the mass production phase [4] - The company has established partnerships with over 40 leading firms in the server liquid cooling sector, with some projects already in small batch supply [5] Strategic Vision and Future Opportunities - The company aims to leverage its core strengths in the automotive sector while expanding into commercial liquid cooling, charging stations, and energy storage systems [5] - The establishment of the first overseas smart factory in Thailand serves as a strategic point to penetrate the Southeast Asian market and capitalize on regional growth opportunities [5]

Company Overview - Feilong Automotive Parts Co., Ltd. has over 70 years of history, established in 1952, focusing on thermal management system solutions [1] - The company has two development phases: - Before 2017: Focused on automotive thermal management components like mechanical water pumps and turbocharger housings [1] - Since 2017: Expanded into non-automotive sectors while continuing to develop automotive thermal management products [1][2] Product Development and Market Reach - The company has established four R&D centers in Shanghai, Wuhu, Nianxiang, and Xixia, focusing on new energy thermal management components [1][2] - Products are sold nationwide and exported to over 200 domestic and international clients, serving more than 300 factory bases globally [2] Investment and Product Strategy - The company is integrating thermal management technology with various sectors, including AI, 5G, and renewable energy [3] - No additional investments in domestic automotive engine thermal management products are planned, aside from the existing subsidiary in Thailand [3] New Energy Vehicle Products - Supplies electronic pumps, temperature control valves, and integrated modules for pure electric vehicles, and exhaust manifolds for hybrid vehicles [4] Manufacturing and Supply Chain - The self-manufacturing rate of electronic pump products exceeds 90%, with key components produced in-house [5] - Major clients for new energy thermal management integrated modules include Chery, Nanjing Automobile, and Geely, with increasing orders year-on-year [5] Competitive Advantages and Market Position - The company holds a unique market position in the liquid cooling sector due to its first-mover advantage and customer-centric platform design [6] - Focuses on customized development to meet diverse client needs, offering high-performance, lightweight, and cost-effective products [6] Global Strategy and Risk Management - The company is enhancing its global strategy by establishing a production base in Thailand to mitigate risks from U.S. tariff policies [7] - The first overseas smart factory in Thailand was completed on June 26, 2025, aimed at expanding into Southeast Asia and North America [7]