Core Viewpoint - The article discusses the growing importance of liquid cooling technology in data centers due to increasing power consumption and heat generation from AI server chips, highlighting the shift from traditional air cooling to liquid cooling solutions. Group 1: Liquid Cooling Technology Types - Liquid cooling technology is categorized into two main types: cold plate and immersion cooling, with cold plate cooling holding a 91% market share in 2022 due to its maturity and compatibility [3][31]. - Immersion cooling, while having the highest heat dissipation capability, accounts for about 8% of the market and is represented by companies like Shuguang Data and Guangdong He Yi [4][31]. - Cold plate cooling primarily uses water-based coolants, offering advantages such as low cost and fast heat dissipation [5]. Group 2: Cooling Liquid Material Systems - The main types of cooling liquids include water-based, oil-based, and fluorinated coolants [7]. - Water-based coolants are mainly used in single-phase cold plate cooling, supplied by companies like Compton and Unification [8]. - Oil-based coolants are used in single-phase immersion cooling, with suppliers like China Petroleum and Unification [8]. - Fluorinated coolants are crucial for high reliability and extreme physical conditions, with companies like Juhua and Dongyue Group achieving large-scale production [8]. Group 3: Microchannel Liquid Cooling Breakthroughs - Microchannel cold plate technology is becoming a focus for AI chip manufacturers, with companies like Nvidia and Microsoft pushing for MLCP standards [9]. - Domestic companies such as Highlan and Feirongda are gaining certifications and expanding their market share in this area [9]. Group 4: Market Size and Price Logic - By 2028, the global AI data center installation capacity is expected to reach 59 GW, corresponding to a cooling liquid demand exceeding 89,000 tons [10]. - The Chinese market for liquid-cooled data centers is projected to grow at a compound annual growth rate (CAGR) of 51.4%, with the industry scale expected to exceed 100 billion yuan by 2027 [10]. Group 5: Leading Projects - Major companies like Alibaba, Shuguang, Huawei, and Lenovo are implementing liquid-cooled data center demonstration projects, with Alibaba achieving a PUE of 1.12 in its 5A green liquid-cooled data center [14][15]. - Shuguang has realized the world's first large-scale commercial application of immersion phase change liquid cooling [15]. - Huawei's cloud data center in Ulanqab utilizes indirect evaporative cooling, achieving a PUE of 1.15 [16]. Group 6: Mainstream Cooling Pathways - The article outlines the mainstream cooling pathways, including water-based, oil-based, and fluorinated cooling liquids, emphasizing the rapid growth of the liquid cooling market [18][21].

允中 发自 凹非寺 量子位 | 公众号 QbitAI 天禧个人超级智能体 和 字节跳动扣子官宣生态合作！ 天禧超级智能体是联想集团推出的 新一代AI助手平台 ，是"一体多端"策略中的"一体"， 即智能终端设备的"AI大脑"，旨在成为人机交互的第 一入口 。它集成了语音、文本、视觉等多种交互能力、全时空记忆和自主规划执行三大超级能力，并提供AI操控、AI搜索、AI翻译、AI笔记 和AI服务五大黄金功能，通过端云混合部署架构，为用户提供跨设备、跨生态的超级智能体验。 继ChatExcel"对话做表"功能成为现象级亮点后，天禧选择合作开发者平台扣子，不仅是其AI功能上的扩容，更标志着联想AI发展已走向平台 化、生态化的整合阶段，AI生态赋能的核心属性得到全面加强。 天然流量入口+高效开发 据悉，扣子平台具备开发成本低、功能完善的核心优势，支持用户通过可视化界面构建AI应用。此次合作旨在解决AI开发者 "开发易，分发 难" 的核心痛点，开辟了一条从AI创意到商用的"高速公路"。 开发者可通过扣子平台 高效开发 个性化智能体，再通过天禧平台 天然流量入口与设备覆盖优势 ，将这些智能体无缝推送到搭载天禧的AI终 端上。双 ...

中新网杭州9月25日电 (记者 孙自法)由联合国教科文组织主办、中国科学院与浙江省人民政府联合承办 的第五届世界生物圈保护区大会，9月22日至25日在杭州举行，以"塑造人与自然可持续的未来"为主题 的本届大会，也是世界生物圈保护区大会首次在亚洲举办，备受关注。 在公众参与层面，推出"大江之歌"科普计划、AI互动展览，以及全球首份"长江江豚追豚地图"与"赏豚 攻略"等，形成良好的社会参与氛围。 在国际协作与技术出海层面，总结保护经验，推动全球伙伴生态对话，助力中国保护方案出海。包括联 合发布"国际小型鲸类保护计划"，将中国特色的全链条保护模式带向国际舞台，推动国际"江豚朋友 圈"逐步扩大。(完) 长江江豚采取自然保护、迁地保护、繁育保护和离体保藏同步进行，自然种群止跌回升，迁地种群稳定 增长，已形成一套可向近岸小型鲸豚保护复制推广的经验，为全球生物多样性保护贡献"中国力量"。中 国科学院水生所副所长徐军透露，在研究所、基金会、爱心企业的共同推动下，长江江豚综合监测和调 查技术已推广到柬埔寨、缅甸和孟加拉等国的河流鲸豚研究中。相信在不久的将来，中国的综合保护技 术还会在亚洲和南美淡水豚分布的国家得以落地实施，产生 ...

Group 1 - The core viewpoint of the reports indicates that the Hong Kong stock market is gaining attention from both domestic and foreign funds, entering a bullish phase [1] - The long-term bull market for Hong Kong stocks was established in Q4 of last year and is currently in the mid-stage, with liquidity and valuation cycles showing signs of improvement [1] - The liquidity cycle is approximately at the mid-point, with a generally loose adjustment expected over the next 1-2 years [1] - After three years of bear market, Hong Kong stocks are experiencing a valuation recovery, currently at the upper mid-level after more than a year of continuous recovery [1] - The earnings cycle has just begun to recover from the bottom, with major recovery concentrated in structurally prosperous sectors [1] Group 2 - Foreign institutions are optimistic about the prospects of the Hong Kong stock market, with Goldman Sachs maintaining an "overweight" stance on Chinese stocks [2] - Standard Chartered Bank has an "overweight" rating for Chinese stocks in its 2025 Global Market Outlook [2] - Morgan Stanley highlights that key sectors such as artificial intelligence, semiconductors, humanoid robots, and new consumption are primarily traded in Hong Kong and A-shares, attracting unprecedented interest from investors [2] - Key investment targets in the Hong Kong market include core growth sectors like internet, innovative pharmaceuticals, new consumption, and technology, which are expected to drive overall valuation increases [2] - Specific companies to watch include Xiaomi Group, Lenovo Group, AAC Technologies, SMIC, and BYD [2]

本报讯 （记者贾丽）人工智能+制造能"加"出什么？当"人工智能+"首次上升为国家行动，当中国制造 业从跟跑变成领跑，一场前所未有的化学反应正在中国发生。 近日，在国新办"高质量完成'十四五'规划"系列主题新闻发布会上，工业和信息化部有关负责人表示， 将研究出台"人工智能+制造"专项行动实施方案。 在这里，联想凝练了37个智能制造典型场景，其中应用人工智能技术的场景比例高达80%。智能化方 面，园区内的一些重要生产环节均已实现全自动、无人化，达到行业领先水平。以高自动化智能主板贴 片线为例，其自动化率最高可达92%，车间内含110个智能场景，使得生产效率提升200%，不良率下降 30%。 位于武汉的产业基地近期也传出"消息"，9月10日，联想武汉产业基地下线第三亿台智能终端——联想 moto Razr 60 pro最新款折叠屏手机。自2013年投产至今，该基地用12年时间实现从0到3亿台的跨越， 产品远销全球160多个国家和地区，展现出强劲的规模化制造能力。该基地持续以智能化手段不断推动 产业技术变革和优化升级，当一笔千万级订单录入系统时，被称为"AI大总管"的鲁班超级智能体能在瞬 间完成复杂拆解，精准计算物料 ...

Group 1 - The core viewpoint of the reports indicates that the Hong Kong stock market is entering a bullish phase, with increasing attention from both domestic and foreign capital [1] - The long-term bull market for Hong Kong stocks was established in Q4 of last year, currently at a mid-point, with liquidity and valuation cycles showing signs of recovery [1] - The liquidity cycle is approximately at the mid-point, with expectations of overall easing in the next 1-2 years [1] - After three years of bear market, Hong Kong stocks are experiencing a valuation recovery, currently at the upper mid-range after over a year of continuous repair [1] - The earnings cycle has just begun to recover from the bottom, primarily in structurally prosperous sectors [1] Group 2 - Several foreign institutions have expressed a positive outlook on the Hong Kong stock market, with Goldman Sachs maintaining an "overweight" stance on Chinese stocks [2] - Standard Chartered Bank has kept an "overweight" rating on Chinese stocks in its 2025 Global Market Outlook [2] - Morgan Stanley noted that key sectors such as artificial intelligence, semiconductors, humanoid robots, and new consumption are primarily traded in Hong Kong and A-shares, attracting unprecedented interest from investors [2] Group 3 - Key investment targets in the Hong Kong market include core growth sectors such as internet, innovative pharmaceuticals, new consumption, and technology, which are expected to drive overall valuation increases [2] - Specific companies to focus on include: - Consumer electronics: Xiaomi Group (01810), Lenovo Group (00992), AAC Technologies (02018), SMIC (00981), and GoerTek (01415) [2] - Information technology services: VST Holdings (00856), Kingdee International (00268), and Jiufeng Intelligent Investment Holdings (09636) [2] - AI and robotics: Fourth Paradigm (06682), SenseTime (00020), and UBTECH (09880) [2] - New energy vehicles: BYD Company (01211) and Leapmotor (09863) [2]

在科学计算场景下，作为新一代全液冷高密度服务器，联想ThinkSystem SC750 V4服务器亮相。面对算 力和能效的双重挑战，其应用的联想问天海神温水冷技术，采用100%全覆盖冷板式液冷设计，功耗比 传统风冷直降40%，PUE值可以降到1.1以下。 在通用计算场景下，联想问天存储新品ThinkSystem DG系列全闪存存储产品提供了超高有效容量和 IOPS的性能保障，确保海量数据的高速存取。联想问天 NE8770-64QC交换机等新品凭借RoCE架构融 合、微秒级低延迟传输等突破性技术，满足400G超高速率与99.999%可靠性的严苛要求。 值得一提的是，联想今年推出的"双循环"相变浸没制冷系统，实际落地的PUE值达到1.035。这意味 着，企业可以将96.6%的电费，都用在AI训练、推理上。 在AI终端展区，天禧个人超级智能体以其跨平台、跨设备的新一代人机交互系统，吸引了大量观众驻 足体验。此次展出的ThinkPad X1 Carbon Aura和ThinkPad X9 Aura，也将为高端商务人士带来更旗舰智 能的办公体验。（青云） 来源：环球网 【环球网科技综合报道】9月24日，2025云栖大会 ...

Core Insights - Alibaba Group's CEO, Wu Yongming, outlined the core strategic path for Alibaba Cloud in the AI era, focusing on open-source initiatives and the development of a "super AI cloud" to provide intelligent computing power globally [1] - The company is investing 380 billion yuan (approximately 53.5 billion USD) over three years to build AI infrastructure, aiming for a tenfold increase in global data center energy efficiency by 2032 [2] - Lenovo, as a leading global ICT infrastructure provider, is positioned to benefit significantly from Alibaba's strategic plans, showcasing its "full-stack AI" solutions at the 2025 Cloud Summit [1][2] Investment Opportunities - Lenovo's server business is expected to enter a "super order cycle" due to Alibaba's substantial investment in AI infrastructure, with Lenovo's server revenue growth reaching 74.8% globally and over 35% market share in China's AI cloud server market [2][3] - Lenovo's sixth-generation Neptune liquid-cooled servers can reduce data center power consumption by 40%, aligning with Alibaba's energy optimization goals [2] - In the first quarter of the new fiscal year, Lenovo's AI infrastructure business revenue grew by 155% year-on-year, driven by orders from Alibaba and ByteDance [3] Strategic Collaborations - Alibaba emphasized the "end-cloud collaboration" strategy, with Lenovo's terminal layout complementing Alibaba's AI model, enabling local operation and cloud updates [4] - Lenovo's AI PCs, which account for 27% of total notebook shipments in China, are designed to seamlessly integrate with Alibaba's AI services, presenting new market opportunities [4] - The collaboration between Lenovo's hybrid AI framework and Alibaba's AI model accelerates the transition from technology to application, enhancing both companies' positions in the AI industry [5] Long-term Outlook - The 380 billion yuan investment is expected to drive a surge in Lenovo's server orders and enhance profitability through liquid cooling technology [5] - In the long term, Lenovo's advantages in terminal access, data closure, and ecosystem collaboration will position it as a core partner in Alibaba's AI transformation [5] - Lenovo is poised to experience dual growth in performance and valuation in the burgeoning AI industry, leveraging its hardware capabilities and ecosystem positioning [5]

Core Insights - Alibaba Group's CEO, Wu Yongming, outlined a strategic path for Alibaba Cloud in the AI era, focusing on open-source initiatives and the development of a "super AI cloud" to provide intelligent computing power globally [1] - The company plans to invest 380 billion yuan (approximately 53.5 billion USD) over three years in AI infrastructure, aiming to enhance global data center energy efficiency by tenfold by 2032 [2] - Lenovo, as a key supplier of servers for Alibaba Cloud, is positioned to benefit significantly from this investment, with its server revenue growth reaching 74.8% globally and a market share exceeding 35% in China's AI cloud server market [2][3] Investment and Market Opportunities - Lenovo is expected to secure new orders from Alibaba's substantial investment in AI infrastructure, potentially leading to explosive growth in its server business [3] - The introduction of Lenovo's sixth-generation Neptune liquid-cooled servers aligns with Alibaba's energy efficiency goals, reducing data center power consumption by 40% compared to traditional cooling methods [2] - Lenovo's AI infrastructure business saw a 155% year-on-year revenue increase in the first quarter of the new fiscal year, driven by orders from Alibaba and ByteDance [3] AI Ecosystem Development - Alibaba emphasized a "cloud-edge collaboration" strategy, with Lenovo's terminal-side developments complementing Alibaba's AI model, Tongyi Qianwen, which aims to operate locally while updating via the cloud [4] - Lenovo's AI PCs, which accounted for 27% of total notebook shipments in China, are designed to integrate seamlessly with Alibaba's AI services, providing low-latency local AI capabilities [4] - The collaboration between Lenovo's hybrid AI framework and Alibaba's AI model accelerates the transition from technology to application, enhancing the overall AI ecosystem [5] Long-term Strategic Positioning - The 380 billion yuan investment is expected to drive a surge in Lenovo's server orders and improve profitability through liquid cooling technology [5] - In the long term, Lenovo's advantages in terminal access, data loops, and ecosystem collaboration position it as a core partner in Alibaba's AI transformation [5] - Lenovo is poised to experience both performance and valuation growth in the burgeoning AI industry, leveraging its hardware capabilities and ecosystem positioning [5]

来源：市场资讯 （来源：都市现场） 10月24日下午，都市现场记者从2025世界VR产业大会新闻发布会上了解到：2025世界VR产业大会将于10月19日至20日在南昌市举行，目前，大会各项筹 备工作正在有序推进。 据了解，2024年，江西VR及相关产业营业收入实现1100亿元、同比增长9.34%，与2018年的42亿元相比，江西VR产业规模扩张了约26倍，呈现爆发式增 长的良好态势。目前，全省VR企业超400家，华为、阿里、联想、HTC、科大讯飞等龙头企业先后落地南昌。 自2008年首次举办以来，世界VR产业大会已成为江西对外交流合作的"重要名片"，更是全球VR领域的重要交流平台。本次大会以"VR让世界更精彩—— VR+AI开启数智未来"为主题，聚焦"发布、研讨、对接、体验"四大核心环节，将精心策划了16场内容丰富、形式多样的活动，包含9个论坛，涵盖AI+VR 融合创新、VR+低空经济等等，力求打造一场技术与产业深度融合的全球盛会。 体验板块环节，主要包括VR/AR产业博览会、2025年虚拟现实教学应用创新大赛等等。本届大会重点邀请了华为、苹果、阿里巴巴、小米、联想等进军 AI眼镜的科技大厂，以及雷鸟创新等头 ...