Group 1 - The core viewpoint of the articles highlights the performance and financial metrics of Zhongshi Technology, indicating a significant increase in stock price and revenue growth [1][2] - Zhongshi Technology's stock price has increased by 131.01% year-to-date, with a recent 2.69% rise over the last five trading days and a 17.60% increase over the last 20 days [1] - The company reported a revenue of 1.298 billion yuan for the first nine months of 2025, representing a year-on-year growth of 18.45%, and a net profit of 252 million yuan, which is a 90.59% increase compared to the previous year [2] Group 2 - The company specializes in the research, design, production, sales, and technical services of thermal materials, EMI shielding materials, and power filters, with thermal materials accounting for 98.05% of its main business revenue [1] - As of September 30, 2025, the number of shareholders increased by 28.67% to 42,000, while the average circulating shares per person decreased by 21.88% to 4,867 shares [2] - Major shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 6.982 million shares, and new shareholder Xin'ao Craftsmanship, which holds 846,900 shares [2]

中石科技股价创出历史新高，截至9:46，该股上涨2.93%，股价报52.00元，成交量626.34万股，成交金 额3.23亿元，换手率3.07%，该股最新A股总市值达155.74亿元，该股A股流通市值106.24亿元。 证券时报·数据宝统计显示，中石科技所属的电子行业，目前整体涨幅为0.49%，行业内，目前股价上涨 的有258只，涨幅居前的有恒烁股份、晶丰明源、臻镭科技等，涨幅分别为17.40%、13.11%、12.70%。 股价下跌的有219只，跌幅居前的有天通股份、芯原股份、生益科技等，跌幅分别为4.06%、3.77%、 3.61%。 公司发布的三季报数据显示，前三季度公司共实现营业收入12.98亿元，同比增长18.45%，实现净利润 2.52亿元，同比增长90.59%，基本每股收益为0.8446元，加权平均净资产收益率12.14%。（数据宝） （文章来源：证券时报网） ...

Core Viewpoint - The liquid cooling concept in the A-share market is gaining significant attention due to industry demand and long-term trends, with a forecasted global market space of $21.8 billion by 2027 driven by technological advancements and policy support [1] Industry Overview - The liquid cooling industry is entering a phase of "triple resonance" involving technology, policy, and demand, which is expected to trigger a "cooling revolution" in data centers [1] - The increasing power consumption of AI servers and chips necessitates more efficient cooling solutions, making liquid cooling a mainstream technology for energy savings in data centers [1] Company Developments - Tianjin Ruixinchang Technology Co., Ltd. is actively developing liquid cooling products for data centers [2] - Shenzhen Chaoping San Technology Co., Ltd. is testing liquid cooling boards for servers, although there is uncertainty regarding mass production [2] - Guangdong Linyi Intelligent Manufacturing Co., Ltd. plans to acquire a 35% stake in Dongguan Liminda Electronics Technology Co., Ltd. for $875 million, enhancing its server product offerings [3] - Lens Technology Co., Ltd. intends to acquire 100% of PMG International Co., Ltd. to gain access to advanced liquid cooling system integration capabilities [3] - Beijing Zhongshi Weiye Technology Co., Ltd. is investing $35.7 million to acquire a 51% stake in Dongguan Zhongshi Xunli Cold Technology Co., Ltd., focusing on liquid cooling solutions [4] Market Dynamics - The push for liquid cooling technology is driven by the explosive growth in AI chip power consumption and stringent energy efficiency policies [4] - The strict regulatory environment regarding PUE (Power Usage Effectiveness) further solidifies the necessity for liquid cooling solutions [5] - Companies entering the liquid cooling sector are strategically positioning themselves to capitalize on both immediate opportunities and future trends in cooling technology [5]

北京中石伟业科技股份有限公司（以下简称"公司"或"中石科技"）于 2025 年 11 月 24 日披露了《关于部分董事减持股份的预披露公告》（公告编号： 2025-074）。公司董事陈曲先生、陈钰先生合计持有公司股份 1,451,574 股，占 公司剔除回购专用账户股份后总股本比例 0.49%，计划自本公告披露之日起 15 个交易日之后的三个月内（即 2025 年 12 月 16 日-2026 年 3 月 15 日）以集中竞 价方式减持公司股份合计不超过 362,894 股，占公司剔除回购专用账户股份后总 股本比例 0.12%。 近日公司收到上述股东出具的《关于股份减持计划实施完成的告知函》。截 至本公告披露日，上述股东通过集中竞价交易累计减持公司股份 362,861 股，占 公司剔除回购专用账户股份后的总股本的 0.12%，减持计划实施完毕。 根据《上市公司股东减持股份管理暂行办法》、《深圳证券交易所上市公司 自律监管指引第 18 号——股东及董事、高级管理人员减持股份》等有关规定， 现将相关情况公告如下： 一、股东减持情况 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈 ...

Investment Rating - The report maintains a "Buy" rating for the company [5][8] Core Insights - The company plans to acquire a 51% stake in Zhongshi Xunleng, enhancing its capabilities in liquid cooling solutions for data centers and automotive applications. This acquisition is expected to strengthen the company's design, manufacturing, and testing capabilities in liquid cooling technology [3] - The company has established strong partnerships with major clients across various sectors, including consumer electronics, digital infrastructure, smart transportation, and clean energy, positioning itself as a leader in high-performance polymer materials and thermal management solutions [4] - Revenue projections for the company are optimistic, with expected revenues of 2 billion, 2.6 billion, and 3.3 billion yuan for 2025, 2026, and 2027 respectively, alongside net profits of 305 million, 413 million, and 551 million yuan for the same years [5][9] Financial Summary - The company is projected to achieve a revenue growth rate of approximately 24.51% in 2024, followed by 28.24% in 2025, and maintaining similar growth rates in subsequent years [9][12] - The expected earnings per share (EPS) are forecasted to increase from 0.67 yuan in 2024 to 1.84 yuan by 2027, indicating strong profitability growth [9][12] - The company's asset-liability ratio is projected to rise from 19.5% in 2024 to 39.1% by 2027, reflecting a potential increase in leverage as it expands operations [12]

国泰海通证券股份有限公司 关于北京中石伟业科技股份有限公司 一、本次持续督导培训的基本情况 （一）保荐机构：国泰海通证券股份有限公司 （二）保荐代表人：周丽涛、嵇坤 （三）培训实施人员：嵇坤 （四）参加培训人员：公司董事、高级管理人员、中层以上管理人员及上市 公司控股股东和实际控制人等相关人员 （五）培训时间：2025 年 12 月 9 日 （六）培训对应期间：2025 年 2025 年度持续督导培训情况报告 深圳证券交易所： 国泰海通证券股份有限公司（以下简称"国泰海通"、"保荐人"）根据《证 券发行上市保荐业务管理办法》《深圳证券交易所创业板股票上市规则》《深圳证 券交易所上市公司自律监管指引第 13 号——保荐业务》《深圳证券交易所上市公 司自律监管指引第 2 号——创业板上市公司规范运作》等相关法律法规要求，对 北京中石伟业科技股份有限公司（以下简称"中石科技"、"公司"）有关人员进 行了 2025 年度持续督导培训，现场培训情况报告如下： 中石科技及各培训对象对本次培训给予了积极配合，在培训期间积极进行交 流沟通，保证了本次培训的顺利开展。通过本次培训，相关人员加深了对中国证 券监督管理委员会和深圳 ...

Core Insights - The liquid cooling server industry is experiencing significant growth, driven by increased demand for high-density servers and efficient cooling solutions [1][2] - Major companies are actively investing in liquid cooling technologies, with substantial market opportunities projected in the coming years [2][3] Industry Developments - Xiechuang Data plans to invest up to 9 billion yuan to purchase servers from multiple suppliers, indicating accelerated infrastructure development in cloud computing [1] - The 5th International AIDC Liquid Cooling Supply Chain Summit will be held on December 18-19, focusing on technology exchange and market trends [1] Market Projections - UBS forecasts that the global direct liquid cooling market for data centers will grow from $1.138 billion in 2024 to $31.191 billion by 2030, with a compound annual growth rate of 51% [2] - The AI server liquid cooling market is expected to reach $23.746 billion, while the non-AI server liquid cooling market will grow to $7.446 billion [2] Company Highlights - Yingweike (002837) holds over 35% market share in liquid cooling technology and is a designated temperature control supplier for major clients like Tencent and Alibaba [2] - Shenling Environment (301018) is a core supplier for Huawei's data centers, with 63 liquid cooling patents and a PUE as low as 1.15 [2] - Highlan (300499) uniquely supplies both server and energy storage solutions, with a client base including ByteDance and Alibaba [3] Key Component Suppliers - Juhua (600160) is a leading domestic supplier of electronic-grade fluorinated liquids, aiming for a 15% global market share by 2025 [4] - Feirongda (300602) specializes in integrated cooling solutions and is a core supplier for Huawei servers [5] - Zhongshi Technology (300684) provides unique nano-carbon material cooling plates, with over 90% of its business in liquid cooling modules [5] System Integration Leaders - Inspur (000977) is a leading global liquid cooling server provider, with a projected market share of over 45% in 2024 [6] - Zhongke Shuguang (603019) collaborates on liquid cooling server development, introducing a high-density cooling solution for complex computing scenarios [6] - Unisplendour (000938) has a significant market presence with over 35% share in the operator market and expects liquid cooling orders to exceed 5 billion yuan in 2024 [6] Other Relevant Companies - Guangxun Technology (002281) is the only domestic company to achieve mass production of liquid cooling optical modules, holding a 15% global market share [7] - Changfei Optical Fiber (601869) applies optical fiber technology to liquid cooling, enhancing data transmission efficiency [8] - Ruijie Network (301165) offers a full range of liquid cooling products and has launched a new immersion liquid cooling switch [8]

Core Viewpoint - The AI PC concept sector has shown a notable increase of 3.11%, ranking sixth among concept sectors, with significant contributions from stocks like Zhongshi Technology, Sixuan New Materials, and Feirongda, which rose by 11.51%, 8.90%, and 8.36% respectively [1][2] Market Performance - The AI PC concept sector experienced a net inflow of 2.651 billion yuan, with 25 stocks receiving net inflows, and 7 stocks exceeding 100 million yuan in net inflows. Shenghong Technology led with a net inflow of 1.162 billion yuan, followed by Lingyi Technology, Changying Precision, and Jiangbolong with net inflows of 536 million yuan, 218 million yuan, and 188 million yuan respectively [2][3] Stock Performance - Top performers in the AI PC concept include: - Shenghong Technology: 5.95% increase, 5.34% turnover rate, net inflow of 1.161 billion yuan [3] - Lingyi Technology: 4.80% increase, 3.19% turnover rate, net inflow of 536 million yuan [3] - Changying Precision: 1.54% increase, 6.10% turnover rate, net inflow of 218 million yuan [3] - Jiangbolong: 4.52% increase, 4.66% turnover rate, net inflow of 188 million yuan [3] Fund Flow Ratios - Leading stocks by net inflow ratio include: - Lingyi Technology: 15.08% - Kesen Technology: 10.70% - Bomin Electronics: 9.42% [3][4]

证券之星消息，12月17日电子化学品板块较上一交易日上涨0.54%，中石科技领涨。当日上证指数报收 于3870.28，上涨1.19%。深证成指报收于13224.51，上涨2.4%。电子化学品板块个股涨跌见下表： 从资金流向上来看，当日电子化学品板块主力资金净流出4.73亿元，游资资金净流出9355.25万元，散户 资金净流入5.66亿元。电子化学品板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 ...

Core Viewpoint - The article discusses whether the current liquid cooling concept stocks are a bubble or the beginning of long-term strategic investments, and it explores the potential market size for liquid cooling in the coming year [1][3][13]. Company Developments - Lens Technology (蓝思科技) announced plans to acquire 100% of PMG International Co., LTD, aiming to quickly gain mature technology and customer certifications in the server cabinet business, along with advanced liquid cooling system integration capabilities [2][4]. - Other companies such as Zhongshi Technology (中石科技), Yidong Electronics (奕东电子), and Chunqiu Electronics (春秋电子) have also made moves to enter the liquid cooling sector, indicating a trend of capital influx into this market [2][8]. Market Performance - The liquid cooling server index has seen a significant increase of 49.66% year-to-date, with several component stocks doubling in price [2][12]. - Notable stock performances include Siquan New Materials (思泉新材) with a 286.21% increase, Yinvike (英维克) at 155.36%, and Kexin New Source (科创新源) at 123.97% [12]. Market Potential - The liquid cooling market is projected to exceed 100 billion yuan, with specific components like cold plates estimated to have a market size of around 30 to 40 billion yuan [13]. - Analysts predict that by 2026, the liquid cooling market for computing power will surpass 100 billion yuan, driven by the increasing demand for high-density computing and the limitations of traditional air cooling [14].