行业数据显示，2026年我国液冷服务器市场规模将突破800亿元，同比增长160%，AI服务器液冷渗透率从2025年的45%飙 升至74%，液冷赛道正式迈入规模化落地阶段。 与此同时，全球AI算力需求的持续爆发进一步推高液冷核心部件的需求确定性。因此，广东领益智造股份有限公司（以下 简称"领益智造"）对东莞市立敏达电子科技有限公司（以下简称"立敏达"）的并购，正是在AI服务器行业全链爆发、液冷需求 刚性增长的产业背景下，公司抢抓发展机遇的关键落子。 本报讯 （记者王镜茹）2026年开年以来，AI服务器行业呈现全产业链高景气态势，从核心代工制造到上游设备供应，各 环节订单与产能均迎来实质性兑现，而液冷散热则因高功耗芯片技术迭代，正式从算力基建的可选配置升级为刚需标配。 此次收购通过"技术+客户+产能"的三重赋能实现"1+1>2"的产业协同，让领益智造快速完善了AI服务器硬件的全链条布 局。 从领益智造的整体战略布局来看，并购立敏达更是其夯实算力基建赛道的核心举措，公司在AI服务器赛道实现了从电源到 散热的全环节覆盖。在全球AI算力需求持续爆发的行业背景下，领益智造的液冷业务业绩弹性将持续释放，成为AI服务器行业 ...

Group 1 - In 2025, China's foreign trade showed strong resilience, with total exports reaching a historical high, growing by 5.5% year-on-year, despite a complex external environment [1][57] - China's trade surplus exceeded $1 trillion for the first time, marking a significant increase of 19.8% year-on-year [1][57] - The net export of goods and services contributed 1.64 percentage points to GDP growth, the second-highest level since 2007, only behind 2021 [3] Group 2 - The diversification of external demand has strengthened, with emerging markets compensating for the decline in exports to the US, which fell by 19.79% year-on-year [6] - Exports to ASEAN, Africa, and the Middle East saw significant growth rates of 25.9%, 13.64%, and 9.7% respectively, contributing positively to the overall export scale [6] - The share of US exports in China's total exports decreased by 3.53 percentage points to 11.15% [6] Group 3 - The product structure of China's foreign trade is shifting towards higher value chains, with high-end products like electrical machinery, machinery, automobiles, and ships being the main export drivers [8] - Traditional light industrial products such as furniture and toys have seen a decline in export scale due to tariff friction and industrial chain relocation [8] Group 4 - The restructuring of global supply chains is creating significant opportunities for Chinese companies, with a notable increase in the number of Chinese enterprises establishing production capacities abroad, reaching 229 in 2025, nearly doubling from 2024 [18] - ASEAN, Mexico, and India are the primary destinations for Chinese production capacity outflows, with ASEAN covering a wide range of industries [18] Group 5 - The AI expansion cycle is a core focus in the Chinese capital market, with significant growth expected in AI computing hardware, supported by macro investment scales and healthy balance sheets of major tech companies [29][30] - The capital expenditure of major cloud service providers is projected to increase significantly, reflecting strong demand for AI computing [35] Group 6 - Cultural and technological value output is becoming a major trend for Chinese enterprises going abroad, with significant growth in IP exports and innovative products in sectors like gaming and new dining [39][41] - The Chinese innovative pharmaceutical sector is increasingly integrated into the global supply chain, with more products commercialized in the US and Europe [41] Group 7 - Key sectors with strong overseas expansion opportunities in 2026 include new energy (batteries, grid equipment), machinery, TMT (technology, media, telecommunications), and innovative pharmaceuticals [46] - The gaming industry is also highlighted for its potential, with significant overseas revenue growth expected [49]

Core Viewpoint - Shenzhen has transformed from a small fishing village into a global innovation hub, showcasing its technological prowess and commitment to becoming a benchmark for China's socialist development model [1][25]. Group 1: Historical Context and Development - The establishment of the Shekou Industrial Zone in 1979 marked the beginning of Shenzhen's transformation, symbolized by the phrase "Time is Money, Efficiency is Life" to attract investment [2][4][31]. - The founding of Huawei in 1987 by Ren Zhengfei in Shekou highlights the entrepreneurial spirit that emerged during this period, leveraging initial capital from Hong Kong [4][28]. Group 2: Industry Growth and Key Players - Foxconn, established by Terry Gou in 1988, became the world's largest electronics manufacturing services provider, benefiting from Shenzhen's cost advantages and industrial ecosystem [6][31]. - Shenzhen's EMS capabilities have empowered global tech innovation, with companies like Foxconn, Luxshare Precision, and BYD Electronics playing significant roles in the supply chain [9][33]. Group 3: Current Trends and Future Outlook - Shenzhen is positioning itself as a leader in AI and robotics, with over 2,600 AI enterprises and projected revenue of approximately 220 billion yuan by 2025 [15][39]. - The "Robot Valley" in Shenzhen is emerging as a global innovation center for robotics, supported by a robust ecosystem of over 74,000 related enterprises and numerous educational institutions [19][39]. Group 4: Commercial Landscape - Huaqiangbei, known as "China's Electronics First Street," hosts a vast network of businesses and attracts over 7,000 foreign visitors daily, reflecting its significance in the global electronics market [11][35]. - The area is characterized by a practical and efficient business model, enabling startups to thrive, including notable companies like Ugreen Technology and Transsion Holdings [12][36].

近日，领益智造北京具身智能超级工厂在北京经济技术开发区(简称"北京经开区"，又称"北京亦庄")正 式启动建设。这是京津冀地区首个具身智能超级工厂，集智能制造、研发创新、精益生产于一体，北京 亦庄具身智能领域再添关键产能配套。 "北京具身智能超级工厂，是领益智造围绕具身智能赛道进行前瞻性布局的关键一步。"领益智造高级副 总裁蒋萍琴表示。作为全球消费电子精密功能件市占率第一的企业，领益智造近年来将消费电子精密制 造经验迁移至机器人领域，可快速响应定制化需求，构建全方位硬件智造服务体系。此前，领益智造已 在北京亦庄注册落地北京市领益机器人有限公司，此次超级工厂的启动建设也成为企业迈向"全球TOP3 具身智能硬件制造商"的核心支点。 根据规划，领益智造北京具身智能超级工厂将依托领益智造在精密制造、全制程工艺及全球供应链方面 的综合优势，提供从精密结构件、核心模组到组装测试的一站式具身智能制造服务。该超级工厂计划年 内完成主工厂设计与装修，并于今年实现具身智能机器人年产能1万台，并在2030年实现年产能50万 台，打造具备全球标杆意义、行业领先水平的智能化、自动化超级工厂。 与此同时，打通"从原型到量产"的关键断点，领 ...

中新网北京2月14日电 领益智造北京具身智能超级工厂近日在北京经济技术开发区(也称"北京经开 区"或"北京亦庄")正式启动建设。这是京津冀地区首个具身智能超级工厂，集智能制造、研发创新、精 益生产于一体。 根据规划，领益智造北京具身智能超级工厂将依托领益智造在精密制造、全制程工艺及全球供应链方面 的综合优势，提供从精密结构件、核心模组到组装测试的一站式具身智能制造服务。该超级工厂计划年 内完成主工厂设计与装修，并于今年实现具身智能机器人年产1万台，打造行业领先水平的智能化、自 动化超级工厂。 领益智造高级副总裁蒋萍琴表示，北京具身智能超级工厂是领益智造围绕具身智能赛道进行前瞻性布局 的关键一步。领益智造近年来将消费电子精密制造经验迁移至机器人领域，可快速响应定制化需求，构 建全方位硬件智造服务体系。此前，领益智造已在北京亦庄注册落地北京市领益机器人有限公司，此次 超级工厂的启动建设也成为企业迈向"全球TOP3具身智能硬件制造商"的核心支点。 为破解行业"研发易、量产难"的核心痛点，具备高度专业化、标准化与规模化能力的制造平台，正成为 推动行业跃迁的关键基础设施。双方将共建支撑具身智能机器人从"原型研发"到"中 ...

Group 1 - The 2026 CCTV Spring Festival Gala will feature embodied intelligent robots, marking a significant technological highlight, with Magic Atom as the first strategic partner in this domain [1] - The strategic partnership between Lingyi Zhizhao and Magic Atom focuses on the embodied intelligence sector, emphasizing robot manufacturing services, production line expansion, and overseas business development [2] - Lingyi Zhizhao's nearly 20 years of experience in precision manufacturing for consumer electronics is being leveraged to support the embodied intelligence strategy, which includes a comprehensive capability from core component development to assembly and application [2] Group 2 - The collaboration between Lingyi Zhizhao and other companies like Green Harmony and Huichuan Technology forms a precision manufacturing ecosystem that supports Magic Atom's robot project for the Spring Festival Gala [3] - This ecosystem not only provides full-chain support for the Spring Festival performance but also enhances the competitiveness of China's embodied intelligence industry [3] - Lingyi Zhizhao is positioned as a core manufacturing platform, accelerating the transformation and large-scale implementation of technological achievements through deep collaboration with partners [3] Group 3 - The Spring Festival Gala is expected to catalyze opportunities in the embodied intelligence industry, with Magic Atom benefiting from increased attention and traffic [4] - Lingyi Zhizhao's precision manufacturing capabilities combined with Magic Atom's algorithms provide essential support for the deployment of robots across various sectors [4] - The establishment of a super factory in Beijing will ensure large-scale production capacity, facilitating the transition of embodied intelligence from laboratories to households [4] Group 4 - The robot performance at the Spring Festival Gala represents a milestone in the maturation of China's embodied intelligence industry, transitioning from concept to large-scale implementation [5] - The strategic cooperation between Lingyi Zhizhao and Magic Atom, along with the supporting precision manufacturing ecosystem, is driving this transformation [5] - Lingyi Zhizhao is anticipated to experience explosive growth in its embodied intelligence business in 2026, positioning itself as a key player in the global market [5]

Core Viewpoint - The establishment of the first embodied intelligence super factory in the Beijing-Tianjin-Hebei region by Lingyi iTech is a significant advancement in smart manufacturing and innovation in the area [1] Group 1: Factory Overview - The super factory will integrate smart manufacturing, research and development innovation, and lean production [1] - It aims to provide a one-stop embodied intelligent manufacturing service, covering precision structural components, core modules, and assembly testing [1] Group 2: Production Goals - The main factory design and renovation are planned to be completed within the year [1] - The factory is expected to achieve an annual production of 10,000 embodied intelligent robots this year, with a target of 500,000 units by 2030 [1] - The factory is positioned to set a global benchmark and lead the industry in terms of intelligence and automation [1]

Core Insights - The report identifies liquid cooling as a strategic investment opportunity, potentially replicating the success of optical modules and PCBs, with strong growth prospects driven by AI computing needs and stringent energy efficiency standards [2][3] - Liquid cooling is characterized by three main features: strong growth, complete narrative, and favorable odds, indicating a favorable market environment for investment [2] - The industry is transitioning from speculative hype to a high-growth phase with confirmed orders, as evidenced by significant order increases from key suppliers like Vidi Technology [3] Industry Trends - The liquid cooling industry is entering a high-growth phase with a 252% year-over-year increase in organic orders reported by Vidi Technology, highlighting strong market demand [3] - Major tech companies like NVIDIA and Google are adopting liquid cooling as a mandatory standard for their next-generation platforms, indicating a shift from optional to essential technology in AI computing [3] - The industry is witnessing a wave of mergers and acquisitions, with companies like Liying Intelligent Manufacturing acquiring liquid cooling suppliers to secure positions in the AI server supply chain [3] Liquid Cooling Industry Chain - The liquid cooling industry chain consists of three main segments: upstream components, midstream system integration and manufacturing, and downstream applications [4] - Upstream includes key technologies and components such as cooling fluids and CDU, which have high technical barriers and value [4] - Midstream integrates upstream components to provide complete liquid cooling server solutions, with technical integration capabilities as a core barrier [4] - Downstream focuses on high-performance data center operators and industry users driving the large-scale adoption of liquid cooling [4]

证券代码：002600 证券简称：领益智造 公告编号：2026-014 广东领益智造股份有限公司 关于为子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、担保情况概述 广东领益智造股份有限公司（以下简称"公司"）分别于 2025 年 12 月 5 日和 2025 年 12 月 22 日召开第六届董事会第二十二次会议和 2025 年第六次临时股东 会，审议通过了《关于公司及子公司 2026 年度担保事项的议案》。为保证公司 及其子公司的正常生产经营活动，2026 年度公司（含控股子公司）拟为公司及 子公司的融资或其他履约义务提供担保，预计担保总额度合计不超过人民币 4,000,000 万元。在上述担保额度内，公司管理层可根据实际经营情况对公司（含 控股子公司）对子公司、子公司对公司之间的担保额度进行调配，亦可对新成立 的子公司分配担保额度。具体内容详见公司于 2025 年 12 月 6 日在巨潮资讯网 （www.cninfo.com.cn）上披露的《关于公司及子公司 2026 年度担保事项的公告》。 二、担保进展情况 近日，公司、公司 ...

Core Insights - The launch of the Lingyi Intelligent Manufacturing's embodied intelligence super factory in Beijing marks a significant step in the company's strategy to integrate into the "All-domain Artificial Intelligence City" initiative in Beijing Yizhuang and aims to position the company among the "Top 3 global embodied intelligence hardware manufacturers" [1][3] Group 1: Factory Details - The factory, located in Xiaomi Smart Port, plans to achieve an annual production capacity of 10,000 embodied intelligent robots by 2026 and 500,000 units by 2030, establishing itself as a global benchmark for intelligent and automated manufacturing [3] - The factory will provide a one-stop manufacturing service for embodied intelligence, leveraging the company's strengths in precision manufacturing, full-process technology, and global supply chain [5][6] Group 2: Partnerships and Collaborations - Lingyi Intelligent Manufacturing signed cooperation agreements with initial partners such as Beijing Humanoid, Magic Atom, and Yuanluo Technology, focusing on technological collaboration, product co-creation, manufacturing system construction, and industrial ecosystem cultivation [3][5] - The collaboration aims to bridge the gap between the innovation chain and the industrial chain, facilitating the transition from technology research and development to commercial application [6] Group 3: Strategic Vision - The Beijing super factory is a key component of Lingyi's forward-looking layout in the embodied intelligence sector and is seen as a core support for the company's goal of becoming a top global player in this field [3][5] - The factory is expected to significantly enhance the company's core production capacity and product competitiveness, injecting strong momentum into high-quality development in Beijing [6]