Summary of AIDC Power and Liquid Cooling Sector Conference Call Industry Overview - The AIDC industry is expected to see significant opportunities in 800V HVDC and liquid cooling technologies by 2026, driven by factors such as Google's TPU V7 chip power consumption exceeding expectations, the spread of power shortages in North America, and high capital expenditure expectations from leading domestic manufacturers [1][2][6]. Key Insights and Arguments - The liquid cooling market is projected to reach 20-30 billion yuan by 2025 and is expected to explode to over 100 billion yuan in 2026, primarily driven by demand from NV GB300 cabinets, Google ASIC cabinets, and other cloud providers [1][5][7]. - The 800V HVDC technology is anticipated to become mainstream in 2026, offering higher efficiency and lower costs compared to traditional UPS systems. Delta and Vitec have already received orders from Google and Meta [1][19]. - Domestic manufacturers are expected to transition from OEM to system solution providers in the long term, with companies like Invec and Siquan New Materials showing leading advantages [1][9][10]. Market Dynamics - The North American power market is facing challenges due to power shortages, which is driving data centers to adopt off-grid and co-location models. Gas turbines and energy storage systems are emerging as solutions, with companies like Jerry and Doosan Energy receiving orders from North American data centers [4][28]. - The tightening of NV Code is expected to increase the scarcity of manufacturers already connected with NV, enhancing their competitiveness [11]. Investment Opportunities - High-potential investment directions in the AIDC sector include: 1. In-cabinet server power supplies, driven by inflation logic and capacity shortages among leading manufacturers [3]. 2. Changes in power supply architecture from traditional UPS to HVDC, driven by systemic power shortages in North America [5]. 3. Increased overseas spending on computing power and upgrades in chip liquid cooling solutions [5]. Challenges and Opportunities for Chinese Manufacturers - The Chinese liquid cooling industry faces short-term challenges due to dominance by Taiwanese companies, but mergers and acquisitions may enhance competitiveness. In the long term, the industry is expected to evolve towards providing comprehensive system solutions [9][10]. - Invec and Siquan New Materials are positioned to capitalize on these trends, with Invec's market value potential estimated to exceed 100 billion yuan and Siquan New Materials aiming to become a "small Invec" [12]. Future Trends in Liquid Cooling Technology - Liquid cooling technology is expected to continuously evolve, with innovations such as microchannel technology and gold plating to enhance heat dissipation efficiency. New entrants like Red Sea Teda and Quanta are expected to provide more opportunities for domestic supply chains [8]. Magnetic Components Industry - The demand for magnetic components in AI power supply equipment is increasing, with companies like Jincaihua and Keli benefiting from the recovery in new energy vehicles and energy storage [25]. Conclusion - The AIDC power and liquid cooling sectors are poised for significant growth driven by technological advancements and market demands. Key players in the industry are expected to leverage their positions to capture emerging opportunities while navigating challenges posed by competition and market dynamics [1][2][4][5][19].

摘要 英维克提供完整数据中心解决方案，满足谷歌、Meta 等海外 AIGC 企业 对供应商综合能力的高要求，尤其是在数据中心功耗不断增加的趋势下， 其深厚的数据中心解决方案能力至关重要。 英维克专注于温控散热领域，数据中心相关业务占比超过 50%，产品线 覆盖风冷到液冷，并通过技术积累和研发投入，成功进入 NV 液冷供应 链，与谷歌联合发布 2 兆瓦 CDU 产品，验证了其技术实力和市场认可 度。 液冷市场在 AI 高密度时代从可选项走向必选项，迎来黄金时代。液冷技 术相比传统风冷具有更高效、更稳定、更节能等优势，未来有望成为数 据中心标配。 英维克具备全产业链、全自研布局能力，能够提供完整的数据中心解决 方案，这是海外巨头挑选供应商的关键因素。与 NV、谷歌等国际巨头 合作，进一步验证了其技术实力和市场地位。 英维克通过全产业链、全自研布局，满足客户对稳定性和安全性的高要 求。持续研发投入，优化产品性能，开发差异化产品，成功进入 NV 供 应链体系，并获得国际顶级客户的认可。 Q&A 英维克在液冷领域的核心竞争优势是什么？ 英维克在液冷领域的核心竞争优势主要体现在以下几个方面。首先，英维克具 备全链条、全自 ...

（原标题：主力资金丨2股尾盘遭资金大幅出逃） 据证券时报·数据宝统计，从个股来看，40股主力资金净流入均超2亿元，9股主力资金净流入均超5亿元。 金风科技主力资金净流入8.29亿元，居首。据金风科技公众号消息，近日，安装98台金风机组的三峡江苏大丰800兆瓦海上风电项目完成全容量并 网发电，该项目刷新了我国海上风电项目的离岸距离纪录。金风科技为项目提供了三种机型的智能海上风电机组，为这一工程提供装备支撑。 6个行业获主力资金净流入。 A股三大指数今日（12月25日）集体小幅上扬，沪指日线七连阳。行业板块多数收涨，航天航空、电机、造纸印刷、包装材料、通用设备、汽车 零部件、保险板块涨幅居前，贵金属、能源金属板块跌幅居前。 从今日主力资金情况来看，沪深两市全天主力资金净流出204.39亿元。6个行业主力资金净流入，汽车行业主力资金净流入11.58亿元，居首；机械 设备、食品饮料行业主力资金净流入金额分别为5.04亿元、2.28亿元；家用电器、轻工制造、纺织服装行业主力资金净流入金额均超过1亿元。 25个主力资金净流出行业中，电子行业主力资金净流出金额居首，超50亿元；有色金属、计算机、医药生物、通信、基础化工等行 ...

Market Overview - The Shanghai Composite Index rose by 0.47% on December 25, with 25 out of the 28 sectors experiencing gains, led by the defense and military industry at 2.91% and light industry at 1.59% [1] - The mechanical equipment sector ranked third in terms of daily gains, increasing by 1.51% [1] - Conversely, the comprehensive and non-ferrous metal sectors saw declines of 1.12% and 0.77%, respectively [1] Capital Flow Analysis - The main capital outflow from the two markets totaled 18.129 billion yuan, with 8 sectors experiencing net inflows [1] - The automotive sector led the net inflow with 2.747 billion yuan and a daily increase of 1.46%, followed by the mechanical equipment sector with a net inflow of 1.862 billion yuan [1] - The electronic sector had the highest net outflow, totaling 6.123 billion yuan, followed by the non-ferrous metal sector with 4.135 billion yuan [1] Mechanical Equipment Sector Performance - The mechanical equipment sector saw a daily increase of 1.51%, with a total of 531 stocks, of which 441 rose and 83 fell [2] - Among the stocks, 249 experienced net inflows, with 17 stocks having inflows exceeding 100 million yuan, led by Jilun Intelligent with 501 million yuan [2] - The outflow list included 7 stocks with outflows exceeding 100 million yuan, with Yingweike and Aerospace Power leading the outflows at 511 million yuan and 507 million yuan, respectively [2][4] Top Gainers in Mechanical Equipment Sector - Jilun Intelligent: +7.33%, turnover rate 15.81%, net inflow 501.43 million yuan [2] - Zhonghe Technology: +9.99%, turnover rate 12.68%, net inflow 341.19 million yuan [2] - Longxi Co.: +10.02%, turnover rate 9.83%, net inflow 334.24 million yuan [2] Top Losers in Mechanical Equipment Sector - Yingweike: -0.32%, turnover rate 8.40%, net outflow 511.49 million yuan [4] - Aerospace Power: +3.52%, turnover rate 25.29%, net outflow 507.43 million yuan [4] - Liou Co.: -1.15%, turnover rate 5.88%, net outflow 248.02 million yuan [4]

Summary of Liquid Cooling Industry Conference Call Industry Overview - The liquid cooling market is expected to see significant growth, with Google's demand for liquid cooling cabinets revised upwards from 30,000-40,000 units to approximately 65,000 units by 2026, indicating a market space increase of about 50% [2][3] - NVIDIA anticipates shipping 100,000 liquid cooling cabinets next year, corresponding to a market space of 70 billion RMB [1][4] - The global liquid cooling market is projected to reach a scale of 100 billion RMB by 2026, tripling from approximately 30 billion RMB in 2025, and could reach 200 billion RMB by 2028 [1][6] Key Players and Supply Chain - Major suppliers in NVIDIA's liquid cooling supply chain include AVC, Colmars, Baode, and Shuanghong, while CDU suppliers include Weidi, Delta, Ament Cool IT, and Schneider [5] - Google's CDU suppliers include Invec, Kohler Master, and Invent, with Invec holding a market share of 30%-35% [5] - Domestic suppliers include Invec, Shenling Environment, and Gaolan Co., which have a high localization rate [5] Company-Specific Insights Invec - Invec is highlighted as a key recommended company due to its capacity and technological advantages, showing significant competitiveness in acquiring overseas orders [7] - The company is expected to see a substantial improvement in performance, with stock prices potentially increasing by 40%-50% as it captures a 30% market share in the external cabinet market, leading to revenues exceeding 4 billion RMB and profits over 1 billion RMB [8] DingTong Technology - DingTong Technology has secured an order for 5,000 liquid cooling IO connectors and anticipates a near doubling of demand for 800G and 1.6T optical modules in 2026, which will significantly boost connector demand [9][10] YiDong Electronics - YiDong Electronics, engaged in OEM for server-related products, expects its OEM revenue to reach at least 1 billion RMB next year, with plans to expand capacity to meet customer demand [11] ShenLing Environment and GaoLan Co. - ShenLing Environment is positioned strongly in the domestic data center air cooling management systems and is expected to secure 20%-30% of Huawei's procurement share, with overseas orders amounting to at least 250 million RMB [12] - GaoLan Co. is also a key supplier for Huawei, with expectations of securing similar procurement shares and actively participating in Southeast Asian project tenders [12] Other Companies - Shuguang Digital Creation is a leading domestic company in immersion liquid cooling technology, collaborating with major North American clients like Meta and Google [13] - Siquan New Materials is focused on sample work within NVIDIA's supply chain and is advancing its related business development [13] Market Trends and Future Outlook - The increasing power consumption of AI computing cards and the rising penetration rate of liquid cooling solutions are expected to enhance the value of liquid cooling, with a sustainable gross margin of around 50% projected for the next 2-4 years [1][6] - The liquid cooling market is anticipated to align closely with the growth trajectories of optical modules and PCB sectors, indicating a robust future for the industry [6]

| 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 920662 | 方盛股份 | 4 | 12.27 | 29.24 乙 | 68.15 | | 300870 | 欧陆通 | 1 | 11.38 | 276亿 | 137.26 | | 603090 | 宏盛股份 | 演 | 10.01 | 61.67亿 | 256.74 | | 301268 | 铭利达 | 1 | 9.39 | 77.88 Z | 17.31 | | 300709 | 精研科技 | 1 | 8.13 | 89.82 (Z | 20.51 | | 002837 | 英维克 | 1 | 7.88 | 1094 Z | 262.69 | | 301248 | 杰创智能 | 1 | 7.70 | 49.00亿 | 100.89 | | 300351 | 永贵电器 | 1 | 7.66 | 72.69亿 | 5.77 | | 301123 | 奕东电子 | 1 | 7.51 | 183亿 | 282.19 | | 603083 | 剑桥科技 | ...

12月23日融资客净买入金额排名 | 代码 | 简称 | 12月23日涨跌幅 | 融资净买入额 | 最新融资余额 | 占流通市值比例 | 所属行 | | --- | --- | --- | --- | --- | --- | --- | | | | （%） | （万元） | （万元） | （%） | 业 | | 688256 | 寒武 纪-U | 3.99 | 87926.75 | 1553699.84 | 2.78 | 电子 | | 002837 | 英维克 | 10.00 | 72980.28 | 452962.02 | 5.13 | 机械设 备 | | 300476 | 胜宏科 技 | 3.44 | 52613.48 | 1756211.36 | 6.67 | 电子 | | 601899 | 紫金矿 业 | -1.35 | 48811.85 | 739590.45 | 1.12 | 有色金 属 | | 300502 | 新易盛 | -1.08 | 46564.77 | 2117870.13 | 5.22 | 通信 | | 300274 | 阳光电 | 0.26 | 38403.02 | 1445064. ...

Group 1 - The core point of the news is that Yingweike Technology Co., Ltd. experienced a stock price increase of 5.09%, reaching 109.13 yuan per share, with a total market capitalization of 106.57 billion yuan [1] - The company, founded on August 15, 2005, specializes in the research, production, and sales of precision temperature control energy-saving equipment, as well as air conditioning services for rail transit trains and traditional buses [1] - The revenue composition of the company's main business includes: 52.50% from room temperature control energy-saving products, 36.00% from cabinet temperature control energy-saving products, 9.82% from other sources, 0.93% from rail transit train air conditioning and services, and 0.75% from bus air conditioning [1] Group 2 - Chang'an Fund has one fund heavily invested in Yingweike, specifically the Chang'an Xinrui Technology 6-month open-end mixed A fund, which increased its holdings by 25,400 shares in the third quarter, bringing the total to 188,300 shares, representing 4.79% of the fund's net value [2] - The fund has achieved a year-to-date return of 93.95%, ranking 136 out of 8,088 in its category, and a one-year return of 91.49%, ranking 134 out of 8,058 [2] - The fund manager, Wang Haoyu, has been in charge for 1 year and 344 days, with the best fund return during his tenure being 111.9% and the worst being 100.41% [3]

每经AI快讯，12月24日，液冷服务器指数上涨2%，思泉新材触及涨停，同飞股份涨7.24%，精研科技涨 7.03%，英特科技涨5.31%，英维克涨5.12%。 ...

每经AI快讯，据交易所最新公布的数据显示，截至12月23日，沪深两市的融资融券余额为25236.76亿元，相较上个交易日增加 148.6亿元，其中融资余额25067.08亿元，相较上个交易日增加147.95亿元。分市场来看，沪市两融余额为12825.47亿元，相较上 个交易日增加78.14亿元，深市两融余额12411.29亿元，相较上个交易日增加70.45亿元。 12月23日两市共有1796只个股有融资资金净买入。共有72只股票融资净买入额占总成交金额比例超10%，其中渤海化学、晶升 股份、奥泰生物排名前三，占比分别为28.26%、24.75%、21.78%。 | 股票代码 | 股票 | 收盘 | | 融资净买 融资净买入占比 | 涨跌幅 | | | --- | --- | --- | --- | --- | --- | --- | | | 简称 | 价 | 入额 | (%) | (%) | | | | | | (万元) | | | | | 600800.SH | 渤海化 | 4.1 | 1135.12 | 28.26 | -9.89 | 计算 | | | ポ | | | | | 机 | | 688478.S ...