Group 1 - In January, South Korea's semiconductor exports reached $20.5 billion, a year-on-year increase of over 102%, indicating strong global semiconductor demand driven by the AI wave [1] - The price increase trend in the chip industry is expected to continue into the first half of 2026, with more companies likely to follow suit [1] - Major cloud service providers are adopting liquid cooling as the default standard for next-generation architectures due to the rising AI computing power and chip power consumption [1] Group 2 - Minth Group (00425) has received orders for AI server liquid cooling business from leading Taiwanese manufacturers, entering the global semiconductor supply chain, and plans to establish a joint venture with Fuman Technology to achieve mass production capability by the end of 2025 [2] - Tsugami Corporation China (01651) is entering the bulk procurement phase for AI server liquid cooling equipment, focusing on automatic lathe products with a competitive advantage in processing rapid liquid cooling joints, having signed equipment orders with dozens of clients, accounting for about 5% of domestic order value from January to September 2025 [2]
港股概念追踪|全球芯片产业链传利好信号 机构看好液冷市场空间快速成长（附概念股）