Core Viewpoint - The company Yidong Electronics plans to invest 61.2 million yuan to acquire a 51% stake in Shenzhen Guanding Metal Technology Co., Ltd., aiming to expand its presence in the AI server liquid cooling sector [1][2]. Investment Details - The investment includes an additional capital increase of 2.222 million yuan from its subsidiary Dongguan Keli Star Electronics Co., Ltd., with 30 million yuan contributed by the original actual controller of Shenzhen Guanding or a designated third party [1]. - The investment and capital increase are intended to enhance product offerings and business in AI server liquid cooling [1]. Company Profile - Shenzhen Guanding, established in 2012, specializes in AI computing liquid cooling solutions and has become a core supplier for leading clients in the liquid cooling sector [1]. - Its main products include water cooling plates, immersion cooling modules, water cooling modules, PC cooling modules, and other cooling solutions, widely used in AI servers, GPUs, supercomputing centers, aerospace, and energy storage [1]. Clientele and Market Position - Major clients of Shenzhen Guanding include AVC, Boyd, Hengyun Chang, Taisuo Electronics, and Invec [1]. - The products are primarily utilized by renowned companies such as NVIDIA, Meta, AMD, Microsoft, and Intel [1]. Growth Potential - Yidong Electronics believes that Shenzhen Guanding's comprehensive thermal management capabilities and its growing order volume from industry-leading clients position it well for future growth [2]. - The market for liquid cooling products is expected to expand rapidly due to the increasing construction of computing centers and deeper penetration of AI applications [2]. Financial Performance - In the first three quarters of 2025, Yidong Electronics reported a revenue of 1.66 billion yuan, a year-on-year increase of 35.0%, and a net profit attributable to shareholders of 28.68 million yuan, up 68.4% year-on-year [2]. Strategic Integration - The acquisition is expected to provide access to mature liquid cooling technologies and patents, reducing the R&D cycle and enabling the company to quickly capture the technological high ground in liquid cooling [2]. - The integration aims to enhance the company's capabilities in providing comprehensive solutions for AI computing liquid cooling systems, aligning with its strategic upgrade in "connectors + liquid cooling" and "precision electronics + liquid cooling" [2]. Operational Synergies - The company plans to leverage its strengths to integrate production bases, supply chains, and customer resources, enhancing the scalability of liquid cooling product production [3]. - This integration is expected to alleviate capacity pressures from surging market demand and reduce costs across procurement, production, and logistics, thereby optimizing capacity layout and accelerating production expansion [3]. - The complementary nature of both businesses is anticipated to create effective synergies, enhancing the company's competitiveness in the liquid cooling sector and improving its business scale and profitability [3].
拟取得深圳冠鼎51%股权，奕东电子加快布局AI服务器液冷散热领域