Group 1 - The liquid cooling server sector has seen a rise in stock prices, indicating growing interest and potential in this market [1] - Companies such as Bojie Co., Ltd. (002975), Far East Holdings Group Co., Ltd. (600869), Dayuan Pump Industry Co., Ltd. (603757), and Hengtong Optic-Electric Co., Ltd. (600487) have reached their daily price limit [1] - Zhongke Shuguang (603019) has achieved a new intraday high in its stock price, reflecting strong market performance [1]

Group 1 - The company has triggered the conditional redemption clause for its convertible bonds due to the stock price being above 130% of the conversion price for 15 consecutive trading days [2][3] - The board of directors approved the early redemption of the convertible bonds at a price of 100.7836 yuan per bond, including accrued interest [4][5] - The total amount to be redeemed is 952,405.44 yuan, which includes accrued interest, and the redemption payment date is set for September 17, 2025 [11][12] Group 2 - As of the redemption registration date, the remaining balance of the convertible bonds is 945,000 yuan, accounting for 0.2100% of the total issuance [5][8] - A total of 449,055,000 yuan of convertible bonds have been converted into 21,805,835 shares, representing 13.0748% of the company's total shares before conversion [8][12] - The company's total share capital will increase to 186,547,259 shares after the redemption, which may dilute earnings per share in the short term but strengthen capital structure in the long term [12]

浙江大元泵业股份有限公司 | 证券代码：603757 | 证券简称：大元泵业 | 公告编号：2025-060 | | --- | --- | --- | | 债券代码：113664 | 债券简称：大元转债 | | 关于"大元转债"赎回结果暨股份变动的公告 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、本次可转债赎回的公告情况 （一）有条件赎回条款满足情况 浙江大元泵业股份有限公司（以下简称"公司"、"本公司"）股票自 2025 年 8 月 4 日至 2025 年 8 月 22 日连续 15 个交易日内有 15 个交易日收盘价格不低 于"浙江大元泵业股份有限公司可转换公司债券"（以下简称"大元转债"）当期 转股价格的 130%，根据《浙江大元泵业股份有限公司公开发行可转换公司债券 募集说明书》（以下简称"《募集说明书》"）中相关条款的约定，已触发"大元转 债"的有条件赎回条款。 （二）本次赎回事项公告披露情况 公司于 2025 年 8 月 22 日召开第四届董事会第八次会议，审议通过了《关于 提前赎回 ...

Core Viewpoint - The liquid cooling server concept is gaining traction, with several companies experiencing significant stock price increases due to rising demand for AI computing power and the need for efficient cooling solutions [1][3]. Group 1: Market Trends - The global demand for AI computing power is increasing, leading to a shift from traditional air cooling to liquid cooling as the mainstream solution for high-performance chip cooling [3]. - According to a report by CITIC Securities, 2025 is expected to see a significant increase in the penetration of liquid cooling in NVIDIA's AI chips, which will drive market growth [3]. - The China Academy of Information and Communications Technology estimates that the liquid cooling market for intelligent computing centers in China will reach CNY 18.4 billion in 2024, a year-on-year increase of 66.1%, and is projected to reach approximately CNY 130 billion by 2029 [3]. Group 2: Company Developments - Runhe Materials has reported that its cooling liquid products have been mass-produced and are generating sales, with plans to expand production capacity based on customer demand and strategic development [3][4]. - Shenling Environment has indicated that liquid cooling is a key strategic business for the company, with new liquid cooling production lines already in operation [4]. - However, many companies in the domestic liquid cooling industry are still in the early stages of development, with limited revenue from related businesses. For instance, Dayuan Pump Industry reported that its sales revenue from products directly used for data center liquid cooling was only CNY 1.6 million in Q1 2025, accounting for 0.43% of total revenue [4].

Group 1 - The liquid cooling server sector continues to rise, with companies such as Runhe Materials, Cambridge Technology, and Zhongshi Technology reaching new highs during trading [1] - Longpan Technology, Yinlun Co., Chunzhi Technology hit the daily limit up, indicating strong market interest and investor confidence [1] - Other companies like Dayuan Pump Industry, Keda, Jieban Technology, Gaolan Co., and Shuguang Digital Innovation also experienced gains, reflecting a broader positive trend in the industry [1]

Group 1 - The announcement states that the last conversion date for "Dayuan Convertible Bonds" is September 16, 2025, which is one trading day away from the announcement date [2] - After the early redemption, "Dayuan Convertible Bonds" will be delisted from the Shanghai Stock Exchange starting September 17, 2025 [2] - Investors can either continue trading the convertible bonds in the secondary market within the specified time or convert them at a price of 20.59 CNY per share, or face forced redemption at a price of 100 CNY per bond plus accrued interest, totaling 100.7836 CNY per bond [2]

| 证券代码：603757 | 证券简称：大元泵业 | 公告编号：2025-059 | | --- | --- | --- | | 债券代码：113664 | 债券简称：大元转债 | | 浙江大元泵业股份有限公司 关于实施"大元转债"赎回暨摘牌的 最后一次提示性公告 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： 最后转股日：2025 年 9 月 16 日 截止 2025 年 9 月 15 日收市后，距离 2025 年 9 月 16 日（"大元转债"最后 转股日）仅剩 1 个交易日，2025 年 9 月 16 日为"大元转债"最后一个转股日。 浙江大元泵业股份有限公司（以下简称"公司"、"本公司"）股票自 2025 年 8 月 4 日至 2025 年 8 月 22 日连续 15 个交易日内有 15 个交易日收盘价格不低 于"浙江大元泵业股份有限公司可转换公司债券"（以下简称"大元转债"）当期 转股价格的 130%。根据本公司《可转换公司债券募集说明书》的约定，已触发 可转债的赎回条款。本公司第四届董事会第 ...

Core Viewpoint - The announcement details the redemption and delisting of "Dayuan Convertible Bonds" (大元转债), effective from September 12, 2025, with the last conversion date set for September 16, 2025 [2][3][4]. Redemption Details - The last trading day for "Dayuan Convertible Bonds" is September 11, 2025, and trading will cease on September 12, 2025 [6][13]. - The redemption price is set at 100.7836 CNY per bond, which includes the face value and accrued interest [8][9]. - The redemption date is September 17, 2025, when the bonds will be delisted from the Shanghai Stock Exchange [4][14]. Conversion Conditions - The bonds are subject to early redemption as the company's stock price exceeded 130% of the conversion price for 15 consecutive trading days from August 4 to August 22, 2025 [5][7]. - Investors must convert their bonds or sell them before the last trading day to avoid forced redemption [15][16]. Tax Implications - Individual investors are subject to a 20% tax on interest income, resulting in a net redemption amount of 100.6269 CNY per bond after tax [9][10]. - Non-resident enterprises are exempt from corporate income tax on interest income from these bonds until December 31, 2025 [10]. Communication and Procedures - The company will notify bondholders of the redemption process and results through various channels, including the Shanghai Stock Exchange website and financial newspapers [11][12].

| | | 截止 2025 年 9 月 12 日收市后，距离 2025 年 9 月 16 日（"大元转债"最后 转股日）仅剩 2 个交易日，2025 年 9 月 16 日为"大元转债"最后一个转股日。 本次提前赎回完成后，"大元转债"将自 2025 年 9 月 17 日起在上海证券 交易所摘牌。 浙江大元泵业股份有限公司 关于实施"大元转债"赎回暨摘牌的 第九次提示性公告 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： 2025 年 9 月 12 日起，"大元转债"停止交易。 最后转股日：2025 年 9 月 16 日 投资者所持可转债除在规定时限内通过二级市场继续交易或按照 20.59 元/股的转股价格进行转股外，仅能选择以 100 元/张的票面价格加当期应计利息 （即合计 100.7836 元/张）被强制赎回。若被强制赎回，可能面临较大投资损失。 特提醒"大元转债"持有人注意在限期内转股。 赎回登记日：2025 年 9 月 16 日 赎回价格：100.7836 元/张 赎回款发放日：2025 年 9 ...

Core Viewpoint - A new microfluidic structure called "manifold-microjet-serrated microchannel" has been developed, achieving a super high heat flux density of 3000 W/cm² for chip cooling, while reducing cooling power consumption to 0.9 W/cm², providing a significant advancement for next-generation high-performance chip thermal management [1] Company and Industry Summary - Over 30 liquid cooling concept stocks in the A-share market, with 7 stocks doubling in price this year, including Siquan New Materials (301489) with a price increase of over 365%, primarily focusing on liquid cooling modules [1] - Other notable stocks that have doubled in price include Dayuan Pump Industry (603757), Yingweik (002837), Feilong Co., Ltd. (002536), and Rongyi Precision [1] - Since the second half of the year, multiple liquid cooling concept stocks have attracted institutional research, including Feilong Co., Ltd., Yimikang (300249), Yinlun Co., Ltd. (002126), Lingyi Zhizao (002600), Suzhou Tianmai (301626), and Huafeng Aluminum (601702) [1] - From the perspective of institutional interest, 15 liquid cooling concept stocks have received attention from 3 or more institutions, with Yinlun Co., Ltd., Inspur Information (000977), and Yingweik receiving attention from over 20 institutions [1]