AIDC 系列四 北美缺电重塑格局，聚焦 SOFC 和 MLCC 新机遇 glmszqdatemark 北美缺电常态化，开启 SOFC 和 MLCC 投资新篇章。当前北美电力供需失衡持续 加剧，叠加 AIDC 快速扩张，电力矛盾或已成为制约区域产业发展的核心瓶颈。 在此背景下，北美数据中心非线性增长规划正重塑当地能源格局，SOFC 凭借独 特优势加速部署，成为破解电力短缺、契合能源格局重塑的重要路径之一。 与此同时，AI 产业发展推动服务器功耗增长，电路侧供电与信号稳定成为保障数 据中心高效运行的关键。MLCC 作为电路侧核心被动元器件，承担稳定供电、滤 除干扰的职能，其高效能、高可靠、高密度特性，精准匹配 AI 时代服务器需求。 SOFC：数据中心电源困境破局者。SOFC 作为一种高效清洁的高温燃料电池，可 直接将氢气、天然气等转化为电能。SOFC 由于具备高能量转换率、稳定电力可 靠性、快速部署能力、低碳排放、动态可调响应等能力，成为应对高密度负载的 关键方案。从市场空间来看，根据 Grand View Research 的预测，全球（SOFC） 市场在 2024 年规模约 10 亿美元，预计到 2033 ...

格隆汇2月24日丨博迁新材(605376.SH)在互动平台表示，公司的镍粉产品主要应用于片式多层陶瓷电容 器（MLCC）的生产，并广泛应用到消费电子、汽车电子、AI硬件等领域。在AI硬件相关领域，AI技术 的发展推动相关设备在功耗、算力与集成度方面的要求持续提升，带动小型化、高容值MLCC的市场需 求不断增长。为实现更大电容量，当前MLCC行业正朝着超薄介电层方向持续发展，这一技术趋势直接 带动镍粉等关键原材料向更小粒径、更高性能方向升级。 ...

格隆汇2月24日丨博迁新材(605376.SH)在互动平台表示，公司的镍粉产品主要应用于片式多层陶瓷电容 器（MLCC）的生产，并广泛应用到消费电子、汽车电子、AI硬件等领域。在AI硬件相关领域，AI技术 的发展推动相关设备在功耗、算力与集成度方面的要求持续提升，带动小型化、高容值MLCC的市场需 求不断增长。为实现更大电容量，当前MLCC行业正朝着超薄介电层方向持续发展，这一技术趋势直接 带动镍粉等关键原材料向更小粒径、更高性能方向升级。 ...

责任编辑：小浪快报 02月24日消息，截止13:05，MLCC概念板块活跃，风华高科涨停，三环集团、达利凯普、国瓷材料、 洁美科技、博迁新材、宏达电子等个股涨幅居前。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 ...

‼博迁新材交流：铜粉扩产超预期，利润爆发在即 # 逻辑一：银包铜扩产超预期，下游龙头受友商压力开始改造，预计晶科39GW、天合10GW、晶澳全部产线将改 造银包铜！公司今年银包铜出货有望达60-80GW，对应利润3-4亿元。 展望TOPCON500GW空间，对应25亿利润，下游大客户全面对接，粉体大部分由博迁供应。 # 逻辑二：纯铜扩产加速，隆基改造速度加快 隆基产能 ‼博迁新材交流：铜粉扩产超预期，利润爆发在即 # 逻辑一：银包铜扩产超预期，下游龙头受友商压力开始改造，预计晶科39GW、天合10GW、晶澳全部产线将改 造银包铜！公司今年银包铜出货有望达60-80GW，对应利润3-4亿元。 展望TOPCON500GW空间，对应25亿利润，下游大客户全面对接，粉体大部分由博迁供应。 # 逻辑二：纯铜扩产加速，隆基改造速度加快 隆基产能预期全部改造。 博迁公司交流表态：下游需求有多大，尽量满足。 当前镍粉产能4800吨，折合中高端2300吨。 参考镍粉扩产速度，3-4个月可扩100条产线。 # 逻辑三：镍粉供不应求，涨价趋势确立，需求是供给的两倍，预期今年继续扩产。 稀土反制推动三星电机份额提升，AI服务器+车用 ...

关注【博迁新材】。 关注【博迁新材】。 市场普遍认为，铜浆只适用于BC技术，目前行业产能约70-80GW，而近期各家龙头对于非银浆料的导入规划，铜 粉的应用天花板将从70-80GW扩展至全行业装机500GW+，而公司作为国内几乎唯一具备大规模量产铜粉能力的企 业，将明显受益于此次行业去银化进程，市值天花板将充分打开。 市场普遍认为，铜浆只适用于BC技术，目前行业产能约70-80GW，而近期各家龙头对于非银浆料的导入规划，铜 粉的应用天花板将从70-80GW扩展至全行业装机500GW+，而公司作为国内几乎唯一具备大规模量产铜粉能力的企 业，将明显受益于此次行业去银化进程，市值天花板将充分打开。 ...

Core Viewpoint - The total margin financing and securities lending balance in A-shares decreased to 26,808.60 billion yuan, a reduction of 120.12 billion yuan from the previous trading day, representing 2.62% of the A-share circulating market value [1] Group 1: Margin Financing and Securities Lending - The margin financing and securities lending balance is 26,808.60 billion yuan, down by 120.12 billion yuan (-0.45%) from the previous day [2] - The trading volume for margin financing and securities lending was 1,993.51 billion yuan, a decrease of 260.13 billion yuan, accounting for 9.08% of the total A-share trading volume [1] Group 2: Industry and Stock Performance - Among the 31 primary industries, 9 industries experienced net financing inflows, with the public utilities sector leading with a net inflow of 3.86 billion yuan [2] - The coal, construction decoration, and basic chemicals industries also saw significant net financing inflows [2] - A total of 20 stocks had net financing inflows exceeding 1 billion yuan, with Zhongji Xuchuang leading at 9.44 billion yuan [2][3] - Other notable stocks with high net financing inflows include Hikvision, SMIC, Shiyun Circuit, Bosheng New Materials, China Railway, Shanxi Black Cat, Pingtan Development, China Satellite, and Dongshan Precision [2][3]

Core Insights - The MLCC industry is experiencing strong growth driven by demand from AI servers and automotive electronics [1] - The trend towards miniaturization, high capacitance, and high voltage MLCCs is being propelled by the increasing penetration of advanced driver assistance systems in the automotive sector [1] - In the AI server sector, the rising demand for computing power is leading to higher requirements for power and energy consumption metrics, resulting in increased usage of high-capacitance, high-temperature MLCCs [1] Industry Trends - The demand for MLCCs in electric vehicles is estimated to be around 20,000 to 30,000 units per vehicle, while AI servers require more than ten times the amount of MLCCs compared to standard servers [1] - According to statistics from Taiwan's largest passive component distributor, the NVL36 cabinet requires approximately 234,000 high-end MLCCs, and the NVL72 cabinet requires about 441,000 MLCCs [1] - This trend is reshaping the supply-demand dynamics of the MLCC industry and is driving strong demand for small particle size high-end powder materials [1]

Group 1 - The core viewpoint of the article highlights that the company's silver-coated copper powder products are primarily used in the preparation of low-temperature slurry for heterojunction (HJT) solar cells, with competitive advantages in cost and manufacturing process [1] - From a cost perspective, reducing silver consumption is a key direction for cost reduction in the photovoltaic industry, driven by the rising silver prices and the trend of replacing precious metals, aligning with the industry's demand for cost reduction [1] - The company employs a plasma heating condensation method (PVD) under atmospheric pressure to produce the copper core powder used in silver-coated copper powder, resulting in copper powder with good sphericity, which facilitates the uniform and dense coating of the silver layer [1]

Core Viewpoint - The demand for high-performance chip inductors is increasing due to the surge in AI computing power, leading to a rise in power consumption of core chips like GPUs and CPUs [1] Group 1: Company Insights - The company specializes in multi-alloy powders primarily used in the inductor field, producing sub-micron and micron-sized powders that enhance inductance permeability and product stability when combined with mainstream large particle powders [1] - The company's ultra-fine multi-alloy powders have been sent for evaluation to several inductor manufacturers, but large-scale application has not yet been realized due to cost constraints faced by downstream customers [1] - The revenue contribution from this business segment is currently small, but there is potential for market expansion as the performance requirements for inductor materials increase with the demand for high computing power [1]