Moon Environment Technology (SZ:000811) Xin Lang Cai Jing·2025-11-19 09:29Core Viewpoint - Ice Wheel Environmental Technology Co., Ltd. has shown significant growth in Q3, with a year-on-year revenue increase of 6.88% to 1.72 billion yuan, while facing challenges in the first three quarters due to industry-wide impacts, resulting in a 2.45% decline in revenue to 4.83 billion yuan [2][5]. Performance Summary - Q3 revenue reached 1.72 billion yuan, up 6.88% year-on-year - Q3 net profit attributable to shareholders was 160 million yuan, up 13.54% year-on-year - Cumulative revenue for the first three quarters was 4.83 billion yuan, down 2.45% year-on-year - Cumulative net profit for the first three quarters was 428 million yuan, down 9.68% year-on-year - The low-temperature refrigeration segment saw a slight decline, while special air conditioning and thermal management segments experienced growth, driving overall performance [2]. Business Layout - Ice Wheel Environmental focuses on energy and power sectors, providing system solutions and lifecycle services - Key products include various types of compressors, absorption chillers, industrial heat pumps, energy storage devices, and heat exchangers, covering a temperature range from -271°C to 200°C [3][4]. Application Areas - Products are utilized in various core scenarios: - Commercial refrigeration systems: food freezing, cold chain logistics, vacuum freeze-drying, ice venues - Industrial refrigeration systems: energy/chemical process cooling, aerospace wind tunnels, building aggregate cooling - Commercial comfort air conditioning: rail transit, commercial real estate, public venues - Industrial special air conditioning: data centers, nuclear power plants, metallurgy, petrochemicals, electronics factories - Other areas: waste heat recovery, gas compression and liquefaction, energy storage systems, new energy equipment, industrial intelligent control [4]. Key Segment Progress - Data Center Liquid Cooling: Leading technology with products included in the national directory - Nuclear Power: Comprehensive coverage with a focus on core scenarios, serving multiple nuclear power stations and supplying the world's first commercial fourth-generation high-temperature gas-cooled reactor - Thermal Management: Driven by policies, with a strong technological foundation and a focus on industrial heat pumps [5][6][8]. R&D Developments - Breakthroughs in SOFC technology for distributed energy applications, with unique output characteristics and integration technology, laying a foundation for long-term development in the new energy sector [9].