YINLUN(SZ:002126) Ge Long Hui A P P·2025-10-29 08:15Core Viewpoint - The report from Guosheng Securities indicates that Yinlun Co., Ltd. has shown steady growth in its net profit attributable to shareholders, driven by favorable national policies and expanding market opportunities in data centers and heat pumps [1] Financial Performance - In the first three quarters of 2025, the net profit attributable to shareholders reached 670 million yuan, representing a year-on-year increase of 11% [1] - For Q3 2025, the net profit attributable to shareholders was 230 million yuan, reflecting a year-on-year growth of 14% and a quarter-on-quarter increase of 1% [1] Market Opportunities - The global liquid cooling market for data centers is projected to grow from 3 billion USD to 8 billion USD between 2025 and 2030, with a compound annual growth rate (CAGR) exceeding 20% [1] - The company has expanded its product offerings in liquid cooling, covering both internal and external solutions for server cabinets, including immersion cooling systems, cooling towers, and chip cooling plates [1] Business Development - The company has numerous new projects in its digital and energy sectors expected to generate an additional annual revenue of 600 million yuan upon mass production [1] - The anticipated net profits for the company from 2025 to 2027 are projected to be 950 million yuan, 1.26 billion yuan, and 1.6 billion yuan, respectively, with corresponding price-to-earnings (PE) ratios of 32, 25, and 19 times [1]