Group 1: Liquid Cooling Business Overview - The core product of the current liquid cooling business is the external cold plate liquid cooling module, primarily used for high-power AI chips in HGX server structures, achieving stable shipments in high-density computing environments [1] - The company positions itself as a machining and manufacturing provider for core components of liquid cooling modules, focusing on high-precision processing and welding, while not engaging in system integration [2] - The company has completed a new round of capacity expansion, with production expected to commence before the Spring Festival, and has achieved millions in shipments of cold plates and related products [2] Group 2: Technical Differentiation and Market Position - The company's cold plate solution is compact and closely aligned with GPU layouts, offering advantages in space utilization and deployment flexibility compared to larger heat plates [2] - The company is advancing microchannel liquid cooling technology, which enhances heat transfer efficiency for next-generation high-power chips, currently in the validation and sampling stage [3] - The company has engaged in preliminary testing for the Rubin Ultra platform, which is expected to transition from module-level to package-level liquid cooling, requiring higher precision and reliability [4] Group 3: Competitive Advantage and Business Structure - The company's core competitiveness lies in its deep integration with Taiwan's high-end semiconductor and server supply chain, allowing early participation in new technology validations [5] - Besides the liquid cooling business, the company maintains a stable traditional metal processing business while exploring innovative material and structural projects, which currently have a smaller scale [6] - Overall, the traditional business provides stability, the innovative projects offer flexibility, and the liquid cooling business is the primary growth focus [7]

Market Overview - The Shanghai Composite Index closed at 3871.44 points, above the five-day moving average, with an increase of 1.22% [1] - The total trading volume of A-shares reached 1822.448 billion yuan [1] Stocks Performance - A total of 988 A-shares have surpassed the five-day moving average today [1] - Notable stocks with significant deviation rates include: - LianTe Technology (301205) with a deviation rate of 13.53% and a daily increase of 20.00% [1] - JuGuang Technology (688167) with a deviation rate of 12.21% and a daily increase of 17.34% [1] - YiDong Electronics (301123) with a deviation rate of 11.85% and a daily increase of 20.01% [1] Additional Stocks with Deviation Rates - Other stocks with notable performance include: - KaiPu Cloud (688228) with a deviation rate of 10.57% and a daily increase of 20.00% [1] - JiaoCheng Ultrasonic (688392) with a deviation rate of 9.80% and a daily increase of 13.54% [1] - KaiWang Technology (301182) with a deviation rate of 9.51% and a daily increase of 15.65% [1]

Core Viewpoint - The company Jinfu Technology (300128.SZ) has developed high-performance graphene heat dissipation film products that are suitable for electronic devices with high heat dissipation requirements, such as AI phones, smartphones, and smart tablets [1] Group 1 - The high-performance graphene heat dissipation film is specifically designed for electronic products that require efficient thermal management [1] - The application of these products is particularly relevant in the context of increasing demand for advanced cooling solutions in modern electronic devices [1]

证券日报网讯12月15日，锦富技术（300128）在互动平台回答投资者提问时表示，基于商业保密要求， 公司与客户之间的业务合作信息暂时不便公开，敬请谅解。 ...

Group 1 - The core point of the article is that Jinfu Technology (300128.SZ) has stated on an interactive platform that its lithium battery components and streaming rearview mirror products are currently not applied in the robotics field [1]

格隆汇12月15日丨锦富技术(300128.SZ)在互动平台表示，公司近期已收到客户下发的关于B300/GB300 液冷模组的液冷板部件小批量订单，主要用于相关液冷模组量产前试产验证，订单量及订单金额较小。 B300/GB300液冷模组能否按计划量产、公司能否获得其液冷板部件订单及获得的订单量（如有）均存 在一定不确定性，敬请投资者理性决策，注意投资风险。 ...

格隆汇12月15日丨锦富技术(300128.SZ)在互动平台表示，公司近期已收到客户下发的关于B300/GB300 液冷模组的液冷板部件小批量订单，主要用于相关液冷模组量产前试产验证，订单量及订单金额较小。 B300/GB300液冷模组能否按计划量产、公司能否获得其液冷板部件订单及获得的订单量（如有）均存 在一定不确定性，敬请投资者理性决策，注意投资风险。 ...

证券代码：300128 证券简称：锦富技术 公告编号：2025-080 苏州锦富技术股份有限公司 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 苏州锦富技术股份有限公司（以下简称"公司"）于 2025 年 3 月 12 日召开 第六届董事会第十八次（临时）会议，审议通过了《关于公司 2025 年度对外担 保预计的议案》，并于 2025 年 6 月 24 日召开 2024 年度股东大会审议通过了上 述议案，同意公司 2025 年度为全资子公司及控股子公司的借款提供总计不超过 人民币 5.95 亿元的担保额度，其中对控股子公司常熟明利嘉金属制品有限公司 （以下简称"常熟明利嘉"）提供不超过 5,000 万元的担保额度；且在符合法律 法规及相关规定的前提下，本次预计提供的担保总额度可在各被担保方以及公司 合并报表范围内的其他控股子公司（包括有效期内新增或新设子公司）之间进行 调 剂 。 具 体 情 况 请 详 见 公 司 于 2025 年 3 月 13 日 在 巨 潮 资 讯 网 （www.cninfo.com.c ...

Core Viewpoint - The Jiangsu state-owned enterprise reform sector experienced a slight increase of 0.43% on December 12, with Jinfu Technology leading the gains [1] Market Performance - The Shanghai Composite Index closed at 3889.35, up by 0.41% - The Shenzhen Component Index closed at 13258.33, up by 0.84% [1] Capital Flow - The main capital inflow into the Jiangsu state-owned enterprise reform sector was 633 million yuan, while retail investors saw a net outflow of 169 million yuan and speculative funds had a net outflow of 463 million yuan [1]

Group 1 - The battery sector experienced a rise of 0.39% compared to the previous trading day, with Jinfu Technology leading the gains [1] - The Shanghai Composite Index closed at 3889.35, up 0.41%, while the Shenzhen Component Index closed at 13258.33, up 0.84% [1] - Notable gainers in the battery sector included Jinfu Technology, which rose by 10.13% to a closing price of 7.72, and Anfu Technology, which increased by 10.01% to 44.19 [1] Group 2 - The battery sector saw a net outflow of 2.629 billion yuan from institutional funds, while retail investors contributed a net inflow of 3.682 billion yuan [2] - Key stocks with significant net inflows from retail investors included Jinfu Technology with 85.1611 million yuan and Xinwangda with 69.2869 million yuan [3] - Conversely, major stocks like Ningde Times and Jinhe Galaxy experienced net outflows from both institutional and retail investors [3]