Xuan Gu Bao·2025-12-23 09:01Market Overview - The market experienced a high and then a pullback, with the three major indices showing slight increases. The lithium battery industry chain saw significant gains, with companies like Tianji Co. and Duofluo reaching their daily limit. The Hainan sector continued its strong performance, with Hainan Development and Haikou Group achieving three consecutive limits. The liquid cooling server concept was active, with companies like Chuanrun and Yingweike hitting their daily limits. Conversely, the commercial aerospace concept declined, with Shunhao Co. hitting its limit down and others like Jiuzhiyang and Tianyin falling over 10%. Overall, more stocks declined than rose, with over 3,800 stocks in the Shanghai and Shenzhen markets showing red, and today's trading volume reached 1.92 trillion yuan [1]. Lithium Battery Sector - The lithium battery sector surged today, with Tianji Co., Binhai Energy, Shenzhen New Star, and Duofluo all hitting their daily limits. On December 23, the main contract for lithium carbonate on the Guangqi Exchange rose over 5%, exceeding 120,000 yuan per ton. The price of lithium carbonate futures has increased by over 90% from the year's low of 59,000 yuan per ton. Additionally, there are reports that BYD is negotiating with upstream material suppliers [4][5]. - Dongguan Securities noted that the new energy vehicle market is in a year-end surge period, with tax exemption policies in effect. November sales reached new highs, and demand for energy storage remains strong, keeping overall demand for lithium batteries robust. The lithium battery industry chain is expected to see a slight increase in production in December, maintaining a favorable industry outlook [4][6]. Liquid Cooling Server Sector - The liquid cooling server concept saw another significant rise, with Jitai Co., Tongfei Co., and Chuanrun Co. all hitting their daily limits, while Yingweike and Yidong Electronics reached new historical highs. According to Guosheng Securities, the first development phase of the liquid cooling industry is expected to occur in 2024 and the first half of 2025, with the second phase marked by performance realization. High-power cabinets exceeding 100kW are becoming the new norm, with NVIDIA's GB200/GB300 series adopting full liquid cooling architecture [7][9]. - New generation ASIC accelerators are transitioning from air cooling to liquid cooling, with companies like Amazon Cloud and Meta planning to adopt liquid cooling solutions starting in 2026. The application boundaries of liquid cooling are expanding from GPU servers to switches and ASIC devices, warranting a systematic reassessment of market space [9]. Glass Fiber Sector - The glass fiber concept also saw a significant rise, with companies like Jiuding New Materials and Honghe Technology hitting their daily limits, and Dongcai Technology reaching a historical high. According to Zhuochuang Information, prices for glass fiber electronic cloth products increased slightly in early December, with thick cloth prices rising by 0.2 yuan per square meter and thin cloth prices increasing by 0.3-0.5 yuan per square meter. The traditional electronic cloth market is experiencing upward price momentum due to limited supply growth over the past few years and increased demand from AI applications [10][11].