国产算力多因素催化，AIDC配套迎来爆发契机

Group 1 - The core viewpoint highlights the dual driving forces of "domestic chips + liquid cooling technology" in restructuring computing infrastructure, with Huawei's Ascend 910C achieving large-scale deployment and breaking overseas monopolies [1][2] - The Deepseek-V3.1 model is adapted to the new generation of domestic chips, accelerating the "chip-model" ecological closed loop [2] - The AIDC cabinet power ranges from 20-100kW, with liquid cooling becoming a rigid demand due to its high efficiency and low consumption, leading to an accelerated penetration rate [2] Group 2 - Multiple factors are catalyzing an explosive opportunity in the IDC and computing leasing sectors, with domestic computing gaining multiple benefits and investment value becoming prominent [2] - Policy-driven requirements for state-owned data centers mandate over 50% procurement of domestic chips, alongside the release of industrial chain demand from the 6 billion yuan Inner Mongolia project by Volcano Engine [2] - The halt of H20 production by Nvidia stimulates domestic alternatives, and the upcoming China Computing Conference on August 22 may further clarify policy support, promoting the domestic transformation of the sector [2] Group 3 - The power generation sector is expected to see simultaneous growth in volume and profit, with overseas expansion opening additional growth opportunities [3] - Recommended companies include Keta Power and Weichai Heavy Machinery, with a focus on the gradually increasing penetration of the HVDC segment, recommending Keda Data, Hewei Electric, and Tonghe Technology [3] - The report maintains a "recommended" rating for the power equipment sector, highlighting the benefits from power increases and liquid cooling segments, with recommendations for Invek, Shenling Environment, and Oulu Tong [3]