国家核电建设释放提速信号，泉果基金调研冰轮环境

Core Viewpoint - The company Ice Wheel Environment has shown resilience in its financial performance despite a slight decline in year-to-date revenue and net profit, while its recent quarterly results indicate growth in revenue and net profit compared to the previous year [2][3]. Financial Performance - For Q3 2025, the company achieved revenue of 1.72 billion, representing a year-on-year increase of 6.88%, and a net profit attributable to shareholders of 160 million, up 13.54% year-on-year [2]. - For the first three quarters of 2025, the company reported revenue of 4.83 billion, a year-on-year decline of 2.45%, and a net profit of 428 million, down 9.68% year-on-year [2]. Business Operations and Product Offerings - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with products including compressors and heat exchange devices that manage thermal energy across a temperature range of -271°C to 200°C [3]. - The product lineup includes various types of compressors, industrial heat pumps, vacuum freeze-drying equipment, and marine refrigeration equipment, showcasing significant technological advantages and market performance [3]. Market Applications - The company's products are widely used in sectors such as food processing, cold chain logistics, industrial cooling systems, commercial air conditioning, and special industrial air conditioning [4]. - Specific applications include data centers, nuclear power plants, and energy recovery systems, indicating a diverse market presence [4]. Data Center Solutions - The company’s subsidiaries provide cooling equipment for data centers, including liquid cooling systems, with products recognized in the national green data center technology directory [5][6]. - Successful projects include collaborations with major data centers across China and partnerships with local integrators in North America, Australia, Southeast Asia, and the Middle East [5]. Nuclear Power Industry Engagement - The company is actively involved in the nuclear power sector, focusing on core applications such as nuclear island cooling and heat recovery, with innovative technologies developed for safe and efficient operation [6][7]. - Recent projects include serving multiple nuclear power stations in China and winning contracts for floating small reactor cooling systems [7].