Envicool(SZ:002837) Xin Lang Cai Jing·2025-12-17 12:57Core Viewpoint - The company Invec has experienced significant stock price growth, reaching a record high, driven by its strong performance in the temperature control industry and its expansion into high-demand sectors such as data centers and energy storage [1][2]. Company Overview - Invec, established in 2005 and listed in 2016, initially focused on temperature control technology for communication base stations and has since diversified into comprehensive solutions for data centers, energy storage, and electronic cooling [1]. - The company has developed four core product lines: data center temperature control products, cabinet temperature control products, bus air conditioning, and rail transit vehicle air conditioning [2]. Financial Performance - From 2020 to 2024, Invec's revenue is projected to grow from 1.703 billion yuan to 4.589 billion yuan, with a compound annual growth rate (CAGR) of 28.13%. Net profit is expected to increase from 182 million yuan to 453 million yuan, with a CAGR of 25.6% [1]. - In the first three quarters of 2025, the company achieved revenue of 4.026 billion yuan, a year-on-year increase of 40.19%, and a net profit of 399 million yuan, up 13.13% year-on-year, indicating continued strong growth [1]. Industry Trends - The temperature control industry is undergoing structural upgrades and market expansion, with the global traditional industrial temperature control system market expected to grow from 15.1 billion USD in 2021 to 19.8 billion USD in 2024, a CAGR of 9%. The Chinese market is projected to grow from 1.8 billion USD to 2.4 billion USD, with a CAGR of 10% [2]. - The demand for data centers is increasing due to the exponential growth of artificial intelligence, leading to a shift from traditional air cooling to liquid cooling technologies, which are becoming essential for high-density power requirements [2][3]. Market Opportunities - The global server liquid cooling market is expected to reach 80 billion yuan by 2026, presenting significant opportunities for companies with comprehensive liquid cooling solutions [2]. - The rise in renewable energy and the increasing demand for grid peak shaving are driving rapid growth in global electrochemical energy storage installations, highlighting the critical role of temperature control systems in ensuring battery safety and performance [3].