Core Viewpoint - Company Xin'an Co., Ltd. (600596.SH) is advancing in the computing power sector by launching its first commercial immersion silicon-based liquid cooling project in collaboration with Hangzhou Suanxiang Technology Co., Ltd. [1] Group 1: Project Details - The immersion cooling project has officially commenced operations, utilizing self-developed silicon-based cooling liquid to validate its reliability and economic viability in real load environments [1] - The energy usage efficiency (PUE) of the project has stabilized below 1.1, achieving over 35% energy savings compared to traditional air cooling solutions [1] Group 2: Product Offerings - Xin'an Co., Ltd. has introduced three series of immersion silicon-based liquid cooling products, which include immersion computing liquid cooling, immersion energy storage liquid cooling, and fast charging liquid cooling, targeting various applications such as large computing centers and energy storage stations [2] Group 3: Industry Landscape - The liquid cooling technology is emerging as a significant development direction for next-generation computing infrastructure, with competitors like Dow Chemical, Runhe New Materials, and Chenguang New Materials also entering the silicon-based cooling liquid market [3] - The future market ecosystem for immersion liquid cooling is expected to feature multiple media coexisting, with silicon-based liquid cooling showing promising growth potential considering factors like stability, safety, energy consumption, cost, and environmental impact [3] - Xin'an Co., Ltd. has over 40 years of experience in the silicon industry and is extending its applications from traditional industrial uses to new scenarios in computing infrastructure [3]

据新安股份介绍，本次落地的商用算力平台，采用高功率密度浸没式液冷架构，单机柜功率密度达 210kW，可支持多卡并行计算需求，为多类型算力客户提供服务。项目实测数据显示，数据中心PUE可 降至1.1以下，较传统冷却方式实现节能35%，能效水平明显优于传统方案。 中证报中证网讯(记者罗京)2月3日，记者从新安股份（600596）获悉，公司自研的硅基冷却液浸没式液 冷解决方案，近日在杭州中国数谷落地首个商用项目，并实现稳定运行。 新安股份表示，公司自研的硅基冷却液具备高绝缘性、低挥发性、热稳定性强及环境友好等特性，可直 接与服务器核心器件接触以实现散热，在安全性、能效及长期可靠性方面具备显著优势。 业内人士表示，随着数算中心规模、功率不断提升，高效冷却技术快速发展，液冷具有低能耗成本、高 散热等优势，逐步成为数据中心主流冷却方案。其中，浸没式液冷解决方案有效攻克了传统风冷及冷板 液冷在超高功率密度算力集群面前遇到的散热瓶颈，为下一代算力中心散热树立了新的技术标杆。同 时，浸没式冷却方案具有降低设备维护成本、延长设备使用寿命、提升设备运行稳定性等优势，将大大 降低算力中心的建设与运维成本。 新安股份表示，项目的顺利运 ...

Group 1 - The agricultural chemical sector experienced a significant decline of 6.88% on February 2, with Hongda Co. leading the drop [1] - The Shanghai Composite Index closed at 4015.75, down 2.48%, while the Shenzhen Component Index closed at 13824.35, down 2.69% [1] - Key stocks in the agricultural chemical sector saw substantial losses, with Hongda Co. down 10.02% to 14.63, and Zhongnong United down 10.01% to 18.52 [1] Group 2 - The agricultural chemical sector saw a net outflow of 2.269 billion yuan from main funds, while retail investors had a net inflow of 2.299 billion yuan [1] - Individual stock fund flows showed varied results, with Guangxin Co. experiencing a net outflow of 40.09 million yuan from main funds [2] - Longqing Co. had a net inflow of 4.18 million yuan from main funds, while Jinzhen Co. saw a net outflow of 3.77 million yuan from retail investors [2]

证券代码：600596 证券简称：新安股份 公告编号：2026-002号 浙江新安化工集团股份有限公司关于闲置募集资金现金管理到期赎回公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： ● 到期赎回现金管理产品 一、募集资金现金管理审议程序 公司于2025年8月20日召开第十一届董事会第二十次会议、第十一届监事会第十二次会议审议通过了 《关于使用暂时闲置募集资金进行现金管理的议案》，同意公司使用最高不超过人民币2亿元（单日最 高余额，含本数）的暂时闲置募集资金进行现金管理，用于购买安全性高、流动性好的保本型理财产品 或存款类产品（包括但不限于保本型理财产品、结构性存款、大额存单、定期存款等），且该等现金管 理产品不得用于质押，不得用于以证券投资为目的的投资行为。使用期限自本次董事会审议通过之日起 至2026年3月31日止，在前述额度及期限范围内，公司可以循环滚动使用。上述事项在董事会审批权限 范围内，无需提交股东会审议。保荐机构中信证券股份有限公司出具了无异议的核查意见（具体内容详 见公司于2025年8 ...

证券研究报告 2026年01月30日 基础化工 有机硅行业系列深度报告： "反内卷"协同共振，供需平衡逐步修复 评级：推荐(维持) 李永磊(证券分析师) 董伯骏(证券分析师) 曾子华(联系人) S0350521080004 S0350521080009 S0350124080006 liyl03@ghzq.com.cn dongbj@ghzq.com.cn zengzh@ghzq.com.cn 最近一年走势 相关报告 相对沪深300表现 表现 1M 3M 12M -11% 3% 17% 31% 45% 59% 2025/01/29 2025/05/29 2025/09/29 2026/01/29 基础化工 沪深300 《新材料产业周报：我国5G用户普及率已达83.9%，NAND价格突破历史新 高（推荐）*基础化工*李永磊，董伯骏》——2025-12-28 《制冷剂行业动态研究：三代制冷剂仍是未来长期主流，供需缺口有望进一步 扩大（推荐）*基础化工*李永磊，董伯骏，李振方》——2025-12-02 《新材料产业周报：六氟磷酸锂价格持续上涨，北京规划建设太空数据中心 （推荐）*基础化工*李永磊，董伯骏》——202 ...

证券代码：600596 证券简称：新安股份 公告编号：2026-002 号 浙江新安化工集团股份有限公司 关于闲置募集资金现金管理到期赎回公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 一、募集资金现金管理审议程序 公司于 2025 年 8 月 20 日召开第十一届董事会第二十次会议、第十一届监事会 第十二次会议审议通过了《关于使用暂时闲置募集资金进行现金管理的议案》，同 意公司使用最高不超过人民币 2 亿元（单日最高余额，含本数）的暂时闲置募集资 金进行现金管理，用于购买安全性高、流动性好的保本型理财产品或存款类产品（包 括但不限于保本型理财产品、结构性存款、大额存单、定期存款等），且该等现金 管理产品不得用于质押，不得用于以证券投资为目的的投资行为。使用期限自本次 董事会审议通过之日起至 2026 年 3 月 31 日止，在前述额度及期限范围内，公司可 以循环滚动使用。上述事项在董事会审批权限范围内，无需提交股东会审议。保荐 机构中信证券股份有限公司出具了无异议的核查意见（具体内容详见公司于 2 ...

证券日报网讯1月29日，新安股份（600596）在互动平台回答投资者提问时表示，公司向欧盟地区的销 售多种方式相结合，主要以直接出口为主，相关业务收入目前占公司整体营业收入不到5%。公司将积 极把握海外市场机遇，纵深推进全球化战略，依托海外子公司平台，进一步加大欧洲市场拓展力度。 ...

格隆汇1月29日丨新安股份(600596.SH)在投资者互动平台表示，公司向欧盟地区的销售多种方式相结 合，主要以直接出口为主，相关业务收入目前占公司整体营业收入不到5%。公司将积极把握海外市场 机遇，纵深推进全球化战略，依托海外子公司平台，进一步加大欧洲市场拓展力度。 ...

Core Viewpoint - The article discusses the impact of the upcoming export tax rebate cancellation on various companies in the glyphosate industry, highlighting their strategies to mitigate cost pressures and capitalize on market opportunities. Group 1: Company Strategies and Advantages - Xingfa Group, a leading player in the phosphate chemical industry, benefits from a complete supply chain and cost control, allowing it to quickly pass on cost pressures post-export tax rebate cancellation [1][19] - Yangnong Chemical, a leader in the biorational pesticide sector, plans to shift towards high-value formulation exports, leveraging its strong overseas registration and channel networks [2][20] - Hebang Biotechnology has a high self-sufficiency rate in raw materials, which helps it mitigate cost increases and capture orders during overseas inventory replenishment cycles [3][19] - Runfeng Co., a prominent pesticide exporter, can quickly adjust its product structure to high-value formulations, benefiting from its global partnerships and supply chain flexibility [4][20] - Xin'an Chemical, known for its integrated production model, significantly reduces costs and enhances flexibility in price transmission through its dual production of organic silicon and glyphosate [5][21] Group 2: Market Position and Growth Potential - Taihe Co. focuses on raw material production and aims to expand its market share by optimizing production costs and enhancing its domestic formulation market presence [6][22] - Andermatt Biocontrol, a global leader in pesticide formulations, plans to leverage its strong R&D capabilities and global network to maintain market leadership post-tax rebate changes [7][24] - Lier Chemical, with a complete R&D and production system, aims to enhance its market position through technological upgrades and a stable raw material supply chain [8][25] - Nopson, a leading pesticide formulation company, is expected to strengthen its domestic market position by quickly adapting to changes in export pressures [9][26] - Jiangshan Co., a top glyphosate producer, is positioned to benefit from its scale and technological advantages, allowing it to consolidate market share amid industry restructuring [10][28] Group 3: Industry Trends and Challenges - The glyphosate industry is experiencing consolidation, with companies poised to capture market share from smaller players exiting the market due to increased competition and regulatory pressures [11][29] - Companies are focusing on technological advancements and product iterations to address challenges such as glyphosate resistance and to enhance their competitive edge [12][30] - The shift towards high-value formulations and domestic market focus is a common strategy among companies to mitigate the impact of the export tax rebate cancellation [13][34]

Group 1 - The glyphosate concept index declined by 0.02%, ranking among the top declines in the concept sector, with companies like Hebang Biotechnology, Jiangshan Shares, and Xingfa Group experiencing significant drops [1] - Among the companies in the glyphosate sector, 9 stocks saw price increases, with notable gains from Nuo Shun (up 4.20%), Li Er Chemical (up 3.45%), and Jiang Tian Chemical (up 2.26%) [1][3] Group 2 - The glyphosate concept sector experienced a net outflow of 234 million yuan, with 13 stocks seeing net outflows, and 5 stocks exceeding 10 million yuan in outflows, led by Hebang Biotechnology with a net outflow of 134 million yuan [2] - Other companies with significant net outflows include Jiangshan Shares (57.89 million yuan), Hongtaiyang (29.72 million yuan), and Xin'an Shares (23.04 million yuan) [2] - Conversely, the companies with the highest net inflows included Li Er Chemical (40.21 million yuan), Nuo Shun (18.77 million yuan), and Zhongnong Lihua (3.39 million yuan) [2]