FLAC(SZ:002536)2025-06-30 10:28Company 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 R&D, production, and sales of automotive thermal management components such as mechanical water pumps and turbocharger housings [2] - From 2017 to present: Expanded into non-automotive sectors while continuing to develop automotive thermal management products [2] Product Development and Market Presence - The company has established four R&D centers in Shanghai, Wuhu, Neixiang, and Xixia, with a focus on new energy thermal management components [2] - Products are sold nationwide and exported to over 300 factories globally, serving more than 200 domestic and international clients [2][3] Market Performance - The company's turbocharger housing product has ranked among the top in domestic sales and was recognized as a manufacturing champion by the Ministry of Industry and Information Technology in 2024 [2] - The average price of electronic pumps and temperature control valves in the consumer market is slightly higher than in the automotive market due to higher technical barriers [3] Customer Structure and Sales Strategy - The automotive client base includes well-known domestic and international manufacturers, with over 200 clients and service to more than 300 factories [3] - The sales strategy for new energy thermal management products focuses on two core areas: - Electronic water pumps with a product matrix covering 13W to 40KW and compatibility with 12V to 1500V platforms [4] - Customized temperature control valves based on client needs [4] Future Directions and Competitive Advantages - The company is actively developing its robotics sector, leveraging existing thermal management products to penetrate this market [4] - Competitive advantages in the consumer sector include: - First-mover advantage with nearly 10 years of experience and substantial technical reserves [4] - A strong client network with over 70 established relationships [4] - Diverse application scenarios in various fields such as automotive, charging stations, 5G base stations, and more [4]