Using precipitation rate, precipitation type, drop size distribution parameters and latent heat release products retrieved from FY-3G/PMR, China’s first precipitation measurement satellite, combined with ERA5 reanalysis data, the three-dimensional precipitation structure, cloud microphysical characteristics and latent heat release of Typhoon “Co-May” (202508) at different stages are systematically analyzed, with emphasis on the energy contribution and thermodynamic-dynamic mechanism of latent heat release to the typhoon’s “resurrection”. Results show that FY-3G/PMR can accurately depict precipitation distribution in the eyewall and spiral rainbands, the bright band corresponds well with stratiform precipitation, and it can quantitatively evaluate heavy rainfall during landfall. Precipitation types indicate that convective precipitation dominates in the eyewall, while alternating convective and stratiform precipitation occurs in outer rainbands, consistent with drop size distribution parameters. Particle concentration and diameter are concentrated in stratiform regions but dispersed in the eyewall, reflecting different dominant microphysical processes, which are verified by ERA5 thermodynamic-dynamic diagnostics. A significant latent heat release center exists at 5–7 km height in the eyewall during the re-numbering stage, mainly contributed by ice-phase microphysical processes. Latent heat release rate is significantly negatively correlated with vertical velocity. A warm core structure exists above 7 km in the eyewall with a maximum temperature difference of 1.78 K. There is a vertical displacement of about 6 km between the latent heat release peak and the warm core peak, providing observational evidence for the secondary development of the typhoon. This study verifies the application potential of FY-3G/PMR in monitoring three-dimensional precipitation, microphysics and latent heat structure of typhoons.