证券日报网讯超频三（300647）11月20日在互动平台回答投资者提问时表示，目前公司散热领域涉及的 散热产品主要包括消费电子散热配件、LED照明散热组件等。基于散热领域电子电器类产品的共性需 求，公司散热领域业务具备较强的拓展性。未来公司将持续聚焦散热业务，保持在电子产品散热器件等 领域的固有优势，挖掘散热领域市场机会，结合市场需求和战略规划进行合理产业布局。 ...

Group 1 - The company is deeply engaged in the cooling business for AI infrastructure, including products and services related to GPU, CPU, optical modules, and servers [2] - The company has successfully delivered cooling modules in bulk to international clients such as AMD, showcasing its capabilities in the cooling sector [2] - The company has developed a comprehensive range of cooling solutions, including CDU, liquid cooling modules, liquid cooling plates, air cooling modules, heat pipes, uniform heat plates, and graphite sheets, applicable to various products like humanoid robots, servers, optical modules, XR, and mobile phones [2] Group 2 - The company has established full-process service capabilities for core hardware in AI servers, leveraging its deep expertise in precision manufacturing [2]

Core Viewpoint - The company, Jingyan Technology, specializes in MIM components for foldable smartphones and has begun mass production of cooling solutions, positioning itself for growth in various sectors including smart wearables and data servers [1][2][5]. Group 1: Company Overview - Jingyan Technology's main products include MIM components and modules, with a significant portion of revenue derived from these products, accounting for nearly 60% of total revenue [2][6]. - The company reported a revenue of 1.415 billion yuan in the first half of 2025, representing a year-on-year growth of 41.19%, and a net profit of 80.75 million yuan, up 36.37% [2][6]. Group 2: Market Position and Opportunities - The foldable smartphone market is expected to see a shipment of around 10 million units in China by 2025, with a compound annual growth rate of 10.6% projected until 2028 [5]. - The anticipated entry of Apple into the foldable smartphone market is expected to accelerate industry growth, with foldable phone sales projected to increase by 40%-60% in 2026 [5][6]. Group 3: Product Applications and Expansion - MIM components are being utilized in various fields, including smart wearables and data servers, with the company increasing its MIM production capacity [8]. - The company plans to raise up to 578 million yuan through convertible bonds to fund new production projects for precision MIM components and expand its R&D capabilities [8][9]. Group 4: Cooling Solutions and New Growth Points - The company has begun mass production of cooling solutions, including liquid cooling modules and heat pipes, targeting applications in energy storage and edge computing servers [9]. - The liquid cooling business is expected to benefit from increased domestic investment in computing infrastructure, potentially becoming a new growth driver for the company [9]. Group 5: Institutional Perspectives - Analysts from Zhonghang Securities and Huaxin Securities express optimism about the company's ability to capitalize on high-growth trends in the foldable screen and cooling sectors [10].

Group 1 - The company is exploring new opportunities in the cooling products sector, particularly in GPU, CPU, optical modules, and servers [2] - The company has successfully shipped cooling modules in bulk to international clients such as AMD and has developed a comprehensive range of cooling solutions including CDU, liquid cooling modules, liquid cooling plates, air cooling modules, heat pipes, uniform heat plates, and graphite sheets [2] - The related business operations are progressing smoothly [2]

Business Overview - The company specializes in the R&D, design, production, and sales of precision functional components, automation equipment, and cooling solutions, with applications in smartphones, tablets, laptops, wearables, servers, graphics cards, data center equipment, communication base stations, photovoltaic solar energy, and new energy vehicles [1] - In 2024, the company achieved a revenue of CNY 818.84 million, representing a year-on-year growth of 22.10%, and a net profit attributable to shareholders of CNY 109.72 million, with a growth of 3.65% [1] Production Capacity and Strategy - The overall production capacity utilization rate is maintained at a reasonable level, with stable operations across production bases. The company plans to adjust capacity based on market demand and order growth in the second half of the year [2] - The company is open to potential mergers and acquisitions, focusing on targets that align with its strategic investment plans and enhance its market share and core competitiveness [3] Use of Funds - The company adopts a cautious approach to the use of excess raised funds, planning to invest based on market conditions and strategic needs. Until specific uses are determined, excess funds will be managed to improve efficiency and returns [4] Cooling Business Applications - The cooling business includes various products such as liquid cooling modules and air cooling modules, primarily focusing on servers and consumer electronics, with some involvement in automotive and energy storage applications [5] Customer Orders and Growth - The company reports a healthy order situation for the first half of 2025, with strategies in place to deepen existing customer relationships and explore new application scenarios to drive growth [6][7] Factory Distribution - Production bases are located in Shenzhen, Dongguan, Meizhou, and Huai'an, each with specific focuses to enhance operational efficiency and economic benefits [8] International Expansion - The company has established branches and production bases in the USA, Vietnam, and Thailand, enhancing its global production capabilities and local customer service [9] Share Buyback Plan - The company announced a share buyback plan of CNY 20-30 million at a price not exceeding CNY 62, emphasizing the importance of market conditions and stock price performance in executing this plan [10]