中小盘策略专题：AI+专题：AI带来散热需求提升，重视果链预期差

Group 1: Core Insights - The report highlights that the iPhone 18 series, expected to launch in the fall of 2026, will focus on high-end models, particularly the Pro and Pro Max versions, with significant internal upgrades such as the 2nm A20 Pro chip and a battery capacity exceeding 5000mAh [3] - The introduction of VC (Vapor Chamber) heat spreaders in the iPhone 17 Pro marks a shift towards advanced thermal management, although the current design compromises on thickness and efficiency compared to competitors [4] - The report anticipates a substantial increase in heat dissipation requirements due to the integration of AI capabilities across all iPhone models, necessitating enhanced thermal solutions beyond traditional graphite methods [4] Group 2: Beneficiary Companies - Suzhou Tianmai has been a key player in the thermal management sector for nearly two decades, focusing on the development and production of thermal management materials and devices, with a significant revenue contribution from temperature equalization plates [5] - Zhongshi Technology specializes in high thermal conductivity graphite products and has established independent R&D teams across various thermal management technologies, positioning itself well to benefit from the increasing demand for advanced thermal solutions [5]