Market Overview - The market showed strong fluctuations throughout the day, with the Shanghai Composite Index recording a seven-day winning streak, reaching a new high for the year, while the ChiNext Index rose over 1% in the afternoon [1] - Semiconductor stocks collectively surged, with Cambrian Technology hitting the daily limit and reaching a new high [1] - The liquid cooling server concept continued to perform strongly, with companies like Dayuan Pump Industry and others hitting the daily limit [1] - Local stocks in Xinjiang maintained strength, with multiple stocks achieving three consecutive limits [1] - The military industry sector experienced fluctuations, with Jihua Group dropping over 7% [1] Hot Topics Domestic Chips - Domestic chip stocks saw significant gains, with companies like Haili Co., Wante Development, and others hitting the daily limit [4] - Cambrian Technology recorded a daily limit with a trading volume exceeding 15 billion, setting a historical high [4] - The rise in domestic chips is attributed to the increasing demand for computing power and the gradual slowdown in technological supply, providing an opportunity for Chinese AI chip manufacturers to catch up [5][6] Brain Science - The brain science sector performed well, with companies like Innovation Medical and Qisheng Technology hitting the daily limit, while others saw gains exceeding 10% [7] - The Ministry of Industry and Information Technology and other departments released implementation opinions to promote the innovation and development of the brain-computer interface industry, aiming for breakthroughs in key technologies by 2027 [7] - The establishment of the Hubei Brain-Computer Interface Industry Innovation Development Alliance indicates growing support for this sector [7] Liquid Cooling Servers - The liquid cooling sector remained active, with Dayuan Pump Industry achieving two consecutive limits, and other companies like Xinpeng and Hongsheng hitting the daily limit [10] - The demand for liquid cooling technology is expected to increase as traditional cooling methods become inadequate for high-performance computing systems [12] - The value of core components in liquid cooling systems is projected to exceed 200,000 yuan per unit, indicating a strong market potential for this technology [12] Stock Performance Highlights - Notable stock performances included: - Cambrian Technology (688256.SS) with a 20% increase, reaching a price of 848.88 [5] - Innovation Medical (002173.SZ) with a 9.99% increase, reaching a price of 20.59 [8] - Dayuan Pump Industry (603757.SS) with a 10% increase, reaching a price of 35.41 [11]

Core Viewpoint - The article discusses the liquid cooling technology utilized by Maglev Technology (688448.SH) for data centers, highlighting its efficiency in heat management and energy consumption reduction [1] Group 1: Liquid Cooling Technology - Liquid cooling technology uses liquid as a heat transfer medium to directly or indirectly remove heat from data center components such as CPUs and GPUs [1] - Both direct and indirect liquid cooling require a cooling system to lower the temperature of the heat transfer medium for stable system operation [1] Group 2: Cooling Systems - The magnetic levitation chiller is identified as a highly efficient cooling system that significantly reduces energy consumption in data center operations [1]

格隆汇8月12日丨协昌科技(301418.SZ)在投资者互动平台表示，公司的新一代液冷高性能控制器通过液 冷技术提升了产品的散热性能和稳定性，相关产品经江苏省工业和信息化厅鉴定该技术产品总体处于国 际先进水平，目前应用于电动车辆领域；公司在立足于功率芯片和运动控制器产品领域，把握电动车辆 运动控制领域应用的同时，将持续积极布局新兴行业，丰富下游客户构成，提升公司的抗风险能力，保 障公司持续稳定的发展。 ...

Core Viewpoint - The company has adopted a platform-based, lineage-based, and customized development strategy for its liquid cooling pump series products, enhancing its technological leadership in the industry [1] Group 1 - The company has successfully increased the maximum power of its electronic pumps to 40 kW through continuous technological advancements [1]

依米康8月11日在机构调研中就"液冷与风冷的应用场景及时间节奏如何看？"的问题表示，公司预估海 外上液冷的节奏会更快，以欧美带头的AI服务器最快于明年进入冷板液冷时代，进入到了AI工厂时 代，中东、日韩紧随其后。东南亚受美国政策影响，在建设节奏上稍微会慢一点。受相应政策，及既有 方案稳定性、适配性及经济性的影响，国内近几年仍会以风液同源为主。公司拥有市场全部温控方案的 产品与技术。在经营思路上，锚定未来温控技术方向，根据国内及海外不同区域市场输出产品；在保障 业绩的基础上储备技术、产品、渠道，以支撑公司的后续发展。 ...

Group 1: Market Trends and Strategies - The company anticipates that overseas adoption of liquid cooling will accelerate, particularly in Europe and the U.S., with AI servers expected to enter the liquid cooling era by next year [1] - The company is focusing on expanding its overseas market presence, with orders already in Southeast Asia and plans to penetrate the Far East Asia-Pacific market [2] - The company has confirmed overseas order revenue of CNY 47.72 million for 2024, covering regions such as Malaysia, Singapore, Thailand, Vietnam, the Philippines, and Oman [3] Group 2: Product Development and Technology - The company offers a comprehensive liquid cooling solution, including various systems such as fluorinated and water-cooled plates, and has successfully deployed these solutions in the Middle East [4] - The company is developing products based on NVIDIA's NV72 architecture, leveraging its existing technology base for domestic market needs [2] - The liquid cooling solutions include features like rapid deployment and integration capabilities, ensuring a seamless transition from construction to operation [4] Group 3: Strategic Partnerships and Clientele - Key strategic clients include Alibaba, ByteDance, Huawei, Qinhuai, Baidu, and Tencent, with the company maintaining a healthy order situation and normal operational activities [5] - The company aims to enhance its ability to provide comprehensive solutions throughout the entire lifecycle of digital infrastructure, responding quickly to client needs [5]

Core Viewpoint - The demand for liquid cooling solutions, particularly cold plate cooling, is increasing due to the growing GPU solutions from overseas manufacturers, indicating a rising market potential in this sector [1] Industry Trends - The innovation in the industry has arrived earlier than expected, driven by the advantages of high integration, low power consumption, and cost-effectiveness [1] Investment Focus - It is recommended to pay close attention to manufacturers with mature cold plate liquid cooling technology, as well as key players involved in immersion cooling and spray cooling solutions [1]

Core Viewpoint - The liquid cooling technology is poised for explosive growth as AI infrastructure demands increase, with liquid cooling pumps being the "heart" of these systems, directly influencing efficiency and energy consumption [2][3]. Industry Overview - The demand for liquid cooling technology is rising due to the limitations of traditional air cooling in efficiency and energy use, with liquid cooling expected to become a standard in data centers, reducing Power Usage Effectiveness (PUE) to below 1.1 [3]. - The market for liquid cooling is expanding rapidly, driven by the surge in demand for computing power from sectors like electric vehicles and energy storage [3]. Company Insights - The company has a competitive edge in the liquid cooling sector due to 35 years of technological expertise, particularly in high-end shielded pumps that ensure zero leakage of hazardous materials [3][4]. - The company's liquid cooling business is projected to achieve approximately 90 million yuan in revenue for 2024, marking over 80% year-on-year growth, and has successfully entered the supply chains of major clients like ZTE and Inspur [3][4]. - The company has established independent sales and technical teams to respond quickly to customer needs, emphasizing collaboration and iterative development [4]. Strategic Direction - The company aims to transition from a traditional manufacturing entity to a modern industrial brand with global influence, focusing on high-value products rather than engaging in price wars [5]. - The company plans to enhance its research and development efforts, aiming for rapid iteration and optimization of liquid cooling pump solutions while narrowing the gap with international brands [5][6]. - The company is expanding internationally, with plans to establish a factory in Thailand and a subsidiary in Singapore, while also targeting emerging markets in the Middle East and Central Asia [6]. Future Outlook - The company envisions becoming an indispensable player in the liquid cooling market as it becomes a standard in data centers, leveraging its strong technical foundation and strategic planning to capture significant market share globally [6].

Industry News - Hangzhou Municipal Justice Bureau is soliciting opinions on the draft regulations to promote the development of embodied intelligent robotics industry, emphasizing collaboration between enterprises, research institutions, and industry application units [4] - Chongqing Energy Bureau and the Central China Regulatory Bureau of the National Energy Administration issued implementation rules for distributed photovoltaic power generation, requiring a minimum self-consumption ratio of 20% for projects in urban areas and 40% for other areas [4] - India Airlines announced the suspension of flights between Delhi and Washington due to operational reasons starting September 1, 2025 [4] Company News - China Rare Earth Group stated that it has never cooperated or negotiated with any institutions regarding the so-called "Rare Earth Renminbi Stablecoin" [7] - Changan Automobile announced that all current directors and executives plan to increase their shareholdings, with each individual committing to invest no less than 300,000 RMB, totaling at least 5.7 million RMB [7] - Tian Shun Co. announced that it did not participate in the New Tibet Railway project [7] - Chengdu Huami announced the successful launch of ultra-low power RISC-V MCU [7] - Luxshare Technology is planning to issue H-shares and list on the Hong Kong Stock Exchange [7] - Beijing University Pharmaceutical announced the termination of its business cooperation with Peking University International Hospital, facing risks of a complete halt in its main business [7] - Changchun High-tech announced that its subsidiary's clinical trial application for Camycin has been approved, with no similar products currently on the market [7] - Shanghai Jian Ke announced that its director Chen Wei is under investigation for serious violations of discipline and law [7] - Fosun Pharma announced the granting of rights to develop, produce, and commercialize the in-development product XH-S004, potentially receiving up to 645 million USD in milestone payments [7] - Wahaha Group responded to reports of cutting off distributors with annual sales below 3 million, stating that the changes in its distributor system are based on market strategy and cooperation willingness, and are part of normal dynamic optimization [7]

Core Viewpoint - The liquid cooling technology is poised for explosive growth as AI server power consumption surges, positioning liquid cooling pumps as the "heart" of these systems, crucial for stability and energy efficiency [1][2]. Industry Overview - The demand for liquid cooling technology is increasing due to the limitations of traditional air cooling in efficiency and energy consumption, with liquid cooling expected to become a standard in data centers, reducing PUE (Power Usage Effectiveness) to below 1.1 [2]. - The market for liquid cooling is expanding rapidly, driven by the growth in sectors such as new energy vehicles, energy storage, and computing power [2]. Company Insights - The company, Dayuan Pump Industry, has 35 years of experience in pump products and has developed a unique secondary pressure structure design for its high-end shielded pumps, ensuring zero leakage of hazardous media [2][3]. - In 2024, the company's liquid cooling temperature control business is projected to achieve approximately 90 million yuan in revenue, representing over 80% year-on-year growth, and has successfully entered the supply chains of major clients like ZTE and Inspur [2][3]. - The company has established independent sales and technical teams to respond quickly to customer needs, emphasizing collaboration and iterative development of solutions [3]. Strategic Direction - The company aims to transition from a traditional manufacturing entity to a modern industrial brand with global influence, focusing on high-quality products and avoiding price wars [3][5]. - Plans include increasing investment in technology research and development, optimizing liquid cooling pump solutions, and narrowing the gap with international brands through craftsmanship [5]. - The company has established a subsidiary in Singapore and plans to set up a factory in Thailand, aiming to enhance its service and sales network in Europe and explore emerging markets in the Middle East and Central Asia [5]. Future Aspirations - The company envisions becoming an indispensable player in the global market for liquid cooling technology as it becomes a standard configuration in data centers, leveraging its strong technical foundation and strategic foresight [5].