冰轮环境逆市下跌，技术面调整与资金流出成主因

Company Performance - The company reported a revenue of 4.835 billion yuan for the first three quarters of 2025, representing a year-on-year decrease of 2.45% [5] - The net profit for the same period was 428 million yuan, down 9.68% year-on-year [5] - Although the revenue for the third quarter showed a year-on-year growth of 6.88%, the overall performance is still in a recovery phase, with a TTM price-to-earnings ratio of 30.02 times, indicating adjustment pressure relative to the industry average [5] Market and Stock Performance - As of February 13, the stock price closed at 17.61 yuan, down 3.82% for the day, following a significant increase of 4.63% to 18.31 yuan on February 12 [2] - The stock experienced a trading range of 2.62% and approached the upper Bollinger Band resistance level of 18.22 yuan, indicating a technical need for correction [2] - On February 13, the main capital outflow was 22.2868 million yuan, with only 15% of the inflow coming from institutional investors, while retail investors accounted for 35% [3] Industry Analysis - On the same day, the machinery equipment sector fell by 0.96%, the general equipment sector decreased by 0.56%, and the liquid cooling concept sector dropped by 0.92%, indicating an overall industry adjustment that negatively impacted individual stocks [4] - Despite a strong demand in the liquid cooling market as indicated by a 252% year-on-year increase in orders reported by a competitor, market sentiment is becoming more rational, focusing on the actual progress of the domestic industrial chain [4] Recent Events - The trading volume on February 13 was 536 million yuan, a decrease of 30% from the previous day's 765 million yuan, reflecting a decline in market activity [6] - Expectations from institutions regarding annual report forecasts have already been partially realized, leading to a cautious stance among investors ahead of clearer performance indicators [6]