Market Performance - The ChiNext Index fell by 0.16%, closing at 3091.00 points, with a total trading volume of 603.66 billion yuan, a decrease of 231.40 billion yuan compared to the previous trading day [1] - Among the tradable ChiNext stocks, 378 stocks closed higher, with 14 stocks rising over 10%, including Yuma Technology, Green Island Wind, and Tianshan Electronics, which hit the daily limit [1] - A total of 990 stocks closed lower, with 3 stocks declining over 10% [1] Turnover Rate - The average turnover rate for the ChiNext today was 4.39%, with 28 stocks having a turnover rate exceeding 20% [1] - The highest turnover rate was for Boliang Optoelectronics at 53.62%, which closed up 14.60% with a trading volume of 2.609 billion yuan [1][3] - Other notable stocks with high turnover rates included *ST Dongtong, Xidian Co., and Lihengxing, with turnover rates of 48.18%, 45.66%, and 43.85% respectively [1][3] Institutional Activity - Six high-turnover ChiNext stocks appeared on the Dragon and Tiger List, with five stocks showing institutional participation [3] - Lihengxing had four institutional seats with a total net purchase of 51.92 million yuan, while Tianshan Electronics had two institutional seats with a net purchase of 45.53 million yuan [3] - Boliang Optoelectronics saw a net sell-off of 131 million yuan despite a net purchase of 629.35 million yuan from the Shenzhen Stock Connect [3] Capital Flow - Among high-turnover stocks, 19 experienced net inflows of main funds, with Boliang Optoelectronics, Wanlima, and Kexin Machinery receiving the most significant inflows of 209 million yuan, 120 million yuan, and 113 million yuan respectively [4] - Conversely, Hanwei Technology, Gaolan Co., and Lihengxing faced the largest net outflows of 364 million yuan, 179 million yuan, and 178 million yuan respectively [4] - Only one high-turnover stock released a performance forecast for the first three quarters, with Aifenda expecting a net profit of 99 million yuan, representing a year-on-year increase of 14.72% [4]

高澜股份（300499.SZ）9月19日在投资者互动平台表示，公司本次设立美国全资子公司，主要承接北美 地区算力相关业务的订单需求。此举有利于搭建公司海外运营平台，进而开拓北美及全球市场，同时进 一步提升公司对海外项目的服务响应效率与支持能力。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：董秘您好，公司在美国开办公司的考量是什么？美国 市场预计未来发展如何？预计未来对于公司拓展数据液冷业务会产生哪些影响？ ...

Market Overview - As of September 17, the Shanghai Composite Index closed at 3876.34 points, up by 14.48 points, with a gain of 0.37% [1] - The Shenzhen Component Index closed at 13215.46 points, increasing by 151.48 points, representing a rise of 1.16% [1] - The ChiNext Index closed at 3147.35 points, up by 60.31 points, reflecting a growth of 1.95% [1] High Turnover Stocks - The stock "Haoen Qidian" (301488) had a closing price of 218.03 yuan and a turnover rate of 46.21%, with a price increase of 14.22% [1] - "Aifenda" (301575) closed at 57.02 yuan, with a turnover rate of 43.04%, but saw a decline of 5.53% [1] - "Baili Technology" (603959) closed at 7.34 yuan, achieving a turnover rate of 41.08% and a price increase of 3.23% [1] Notable Stocks with High Turnover Rates - "Huasheng Tiancai" (600410) closed at 22.28 yuan, with a turnover rate of 39.69% and a price increase of 3.58% [1] - "Tianji Co., Ltd." (002759) closed at 17.83 yuan, with a turnover rate of 38.31%, but experienced a decline of 6.26% [1] - "Xinnin Logistics" (300013) closed at 4.63 yuan, with a turnover rate of 37.55%, reflecting a decrease of 2.53% [1] Additional High Turnover Stocks - "Online and Offline" (300959) closed at 82.00 yuan, with a turnover rate of 36.65% and a price increase of 18.98% [1] - "Suhua Weige" (300331) closed at 38.47 yuan, with a turnover rate of 34.02% and a price increase of 14.66% [1] - "Jincai Huilian" (002530) closed at 13.14 yuan, with a turnover rate of 34.01% and a price increase of 2.10% [1]

Core Viewpoint - The liquid cooling sector is gaining traction due to the increasing demand for cooling solutions in AI and high-performance computing, with significant growth expected in the market over the next few years [6][7][9]. Group 1: Market Trends - The global AI liquid cooling market is projected to reach $8.6 billion by 2026, indicating rapid market growth [7]. - In China, the liquid cooling market for intelligent computing centers is expected to reach 18.4 billion yuan in 2024, a 66.1% increase from 2023, and could grow to approximately 130 billion yuan by 2029 [7]. Group 2: Company Performance - Silver Wheel Co. (银轮股份) has the highest institutional ratings at 29, with a stock price increase of over 114% this year. The company is expected to see net profit growth of 35.29% in 2025 and 26.16% in 2026 [9]. - Other companies like Inspur Information (浪潮信息) and Invech (英维克) are also projected to have net profit growth rates exceeding 20% in the coming years [9]. Group 3: Technological Developments - NVIDIA is pushing suppliers to develop microchannel liquid cooling plates (MLCP) to address the rising heat from AI GPU chips, with prices 3 to 5 times higher than traditional cooling solutions [6]. - Liquid cooling is becoming the mainstream solution due to its efficiency and ability to handle the increasing power density of chips, as traditional air cooling methods are no longer sufficient [6][7]. Group 4: Company Initiatives - New Zobang (新宙邦) is actively participating in setting standards for liquid cooling and has developed mature products for various data center applications [8]. - High Lan Co. (高澜股份) offers a range of liquid cooling solutions and aims to maintain a Power Usage Effectiveness (PUE) of below 1.1 [8].

Group 1 - The company, Gaolan Co., has certain technological reserves in microchannel liquid cooling technology but has not yet achieved industrial application [1]

Group 1 - The company has a certain level of technical reserve in microchannel liquid cooling technology, but has not yet achieved industrial application [1]

Investment Rating - The report assigns an "Outperform" rating to the company for the first time [4][7]. Core Viewpoints - The company is a leader in ultra-high voltage pure water cooling equipment and is expected to benefit from the long-term prosperity of the domestic power grid and continuous breakthroughs in overseas business, particularly in the data center liquid cooling sector, which is anticipated to open up greater growth potential [4][14]. - The company has a strong order backlog, with orders expected to grow significantly due to the increasing demand for power management solutions in both domestic and international markets [2][50]. Summary by Relevant Sections Company Overview - The company has been focused on thermal management technology for over 20 years and has established itself as a leading provider of industrial thermal management solutions, with products that are recognized as domestically leading or internationally advanced [14][15]. - The company has a diverse client base, including major players in various sectors such as State Grid, Alibaba, Tencent, and GE, which reflects its strong market position [15][20]. Financial Analysis - The company experienced revenue fluctuations due to acquisitions and divestitures but has returned to a growth phase, with a revenue of 4.18 billion yuan in the first half of 2024, representing a year-on-year increase of 47.81% [24][31]. - The company's net profit for the same period was 23 million yuan, showing a remarkable year-on-year growth of 1438.57% [24][31]. Power Electronics Thermal Management - The company is benefiting from the recovery of the domestic power grid investment, with its power electronics thermal management business experiencing a significant revenue increase of 239.39% year-on-year in the first half of 2025 [31][45]. - The company’s focus on high-power density thermal management products, particularly in data centers and energy storage, has led to rapid growth, with revenues expected to reach 3.28 billion yuan in 2024, a 74.66% increase [31][36]. Data Center Liquid Cooling - The global data center liquid cooling market is projected to grow significantly, with a compound annual growth rate (CAGR) of 33.21% from 2025 to 2030, driven by the increasing demand for AI infrastructure and high-density computing [3][57]. - The company has established stable partnerships with leading clients in the data center sector, including ByteDance and Alibaba, which positions it well to capitalize on the growing demand for liquid cooling solutions [62][64]. Overseas Expansion - The establishment of subsidiaries in Singapore and the United States is aimed at enhancing the company's ability to serve overseas markets, particularly in Southeast Asia and North America, thereby opening up new growth opportunities [20][64].

9月16日，高澜股份涨5.03%，截至发稿，报31.33元/股，成交5.10亿元，换手率6.19%，总市值95.63亿 元。 资料显示，广州高澜节能技术股份有限公司位于广东省广州市高新技术产业开发区科学城南云五路3 号，成立日期2001年6月29日，上市日期2016年2月2日，公司主营业务涉及大功率电力电子装置用纯水 冷却设备及控制系统的研发、设计、生产和销售。主营业务收入构成为：大功率电力电子热管理产品 53.54%，高功率密度装置热管理产品32.78%，工程运维服务10.52%，其他3.15%。 从高澜股份十大流通股东角度 数据显示，广发基金旗下1只基金位居高澜股份十大流通股东。广发多因子混合（002943）二季度持有 股数1179.98万股，持股数量与上期相比不变，占流通股的比例为4.35%。根据测算，今日浮盈赚取约 1769.97万元。 广发多因子混合（002943）成立日期2016年12月30日，最新规模126.9亿。今年以来收益30.1%，同类排 名2643/8174；近一年收益78.88%，同类排名1106/7982；成立以来收益422.39%。 广发多因子混合（002943）基金经理为唐晓斌、 ...

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]

证券代码：300499 证券简称：高澜股份 公告编号：2025-038 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net）参与本次互动交流，活动时间为2025年9月19日（星期五） 15:30-17:00。届时公司董事长李琦先生、总经理兼财务总监关胜利先生、董事会 秘书王杨阳女士将通过网络互动形式就2025年半年度业绩、公司治理、发展战略、 经营状况等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投资者踊跃 参与。 特此公告。 广州高澜节能技术股份有限公司董事会 2025 年 9 月 16 日 关于参加2025年广东辖区上市公司投资者网上集体接待日活动 的公告 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。 为进一步加强与投资者的互动交流，广州高澜节能技术股份有限公司（以下 简称"公司"）将参加由广东证监局、广东上市公司协会联合举办的"向新提质 价 值领航——2025年广东辖区投资者集体接待日暨辖区上市公司中报业绩说明会" 活动，现将相关事项公告如下： 广州高澜节能技术股份有限公司 ...