[相关研究 table_product] 1.期待行业标准化体系进一步完善， 促进具身智能与机器人产业发展— —机械设备行业简评 [Table_Reportdate] 2025年12月17日 超配 行 业 周 报 [证券分析师 Table_Authors] 王敏君 S0630522040002 wmj@longone.com.cn [table_stockTrend] -22% -11% 0% 11% 21% 32% 43% 24-12 25-03 25-06 25-09 申万行业指数:机械设备(0764) 沪深300 机 械 设 备 [Table_NewTitle 关注具身智能机器人商业化进展，期待 ] 行业标准与生态共建 ——机械设备行业周报（20251208-20251214） [table_main] 投资要点： [table_invest] ➢ 代表企业商业化进展：宇树科技近期发布人形机器人"App Store"。应用商店的上线，方 便了训练模型的交流共享，有利于逐步建立产品生态的基础。用户可以将训练好的舞蹈、 武术等模型上传至应用商店，也可以下载其他开发者开发的动作部署到机器人。该应用商 店在架构 ...

证券日报网12月16日讯冰轮环境（000811）在12月16日回答调研者提问时表示，公司旗下顿汉布什公司 和冰轮换热技术公司为数据中心乃至液冷系统提供一次侧冷源装备和热交换装置等冷却装备。顿汉布什 公司(DUNHAM-BUSH)跻身欧美系暖通空调一线梯队，已有131年历史。"变频离心式冷水机组""集成自 然冷却功能的风冷螺杆冷水机组"两项产品入选工信部《国家绿色数据中心先进适用技术产品目录》， 其中，"变频离心式冷水机组"包含"高压变频离心式冷水机组"和"磁悬浮变频离心式冷水机组"。国内已 成功服务了国家超级计算广州中心(天河二号)、中国移动（600941）(贵州)大数据中心、中国联通西安 数据中心、北京四季青数据中心、上海交通银行数据处理中心、恒丰银行总部数据中心、北京中信银行 数据中心、杭钢集团云计算数据中心、淮海大数据产业园、深圳梅林数据中心、数字福州云计算中心、 武汉大数据产业中心、浙江之江国家实验室等诸多项目。在海外，与多家本土专业集成商合作，服务了 北美、澳洲、东南亚、中东众多项目，市场景气度持续高企。冰轮换热技术公司提供蒸发式冷凝器、闭 式冷却塔、干冷器、等焓加湿空冷器、干湿联合式冷却器、板翅式 ...

人民财讯12月10日电，格力电器（000651）12月10日在互动平台表示，公司已掌握了冷板式液冷系统、 相变冷却系统等关键技术，研发推出数据中心全栈冷却方案及液冷设备，可满足高功率密度数据机房的 散热需求，实现PUE≤1.15的节能目标。近年，公司成功交付中国联通长三角智算中心、粤港澳大湾区 枢纽数据中心、成都人工智能计算中心、武汉人工智能计算中心、乌兰察布云数据等智算中心项目。未 来，公司将聚焦液冷系统综合解决方案及核心组件迭代，强化模块化标准化交付，加强与头部互联网企 业合作，拓展在AI算力中心与智算中心市场的应用。 ...

Group 1: Business Overview and Product Offerings - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with key products including compressors and heat exchangers, covering a temperature range of -271℃ to 200℃ [3] - The product matrix includes various types of compressors such as screw, centrifugal, absorption chillers, piston, and industrial heat pumps, showcasing significant technological advantages and market performance [3] - The company has developed a full range of magnetic levitation compressor products, which demonstrated reliability and efficiency during the Beijing Winter Olympics project [3] Group 2: Market Applications and Industry Segments - Products are widely used in sectors such as food processing, cold chain logistics, industrial refrigeration, and special environments like aerospace and mining [3] - The company has successfully served numerous data centers in China, including major clients like the National Supercomputing Center and China Mobile, and has expanded its services to overseas markets in North America, Australia, Southeast Asia, and the Middle East [3][4] - The company’s cooling solutions for data centers include advanced technologies recognized in the national green data center product directory [4] Group 3: Nuclear Power Industry Engagement - The company is actively involved in the nuclear power sector, focusing on core applications such as nuclear island cooling and heat recovery, providing innovative technologies for safe and efficient energy use [4] - It has supplied products to several nuclear power stations in China, enhancing operational safety and efficiency [4] - The company’s subsidiary has developed a unique no-power cooling system for nuclear applications, contributing to the advancement of nuclear energy utilization technologies [4]

Group 1 - The company held a roadshow on September 10, 2025, with participation from eight institutions including Ping An Fund and Huatai Securities Asset Management, discussing product applications, capacity, and market competition [1] - The company focuses on energy and power sectors, providing advanced system solutions and lifecycle services, with main products including compressors and heat exchangers, covering a temperature range of -271℃ to 200℃ [2] - The company's products are widely used in various industries such as commercial refrigeration, industrial freezing, commercial comfort air conditioning, and industrial special air conditioning [2] Group 2 - In the data center sector, the company’s subsidiaries provide cooling equipment, with products recognized in the national green data center technology directory, and successful projects both domestically and internationally [3] - The company has developed innovative technologies for nuclear power applications, supporting the safe operation and clean energy utilization of nuclear power plants, with a focus on core scenarios like nuclear island cooling [4] - The company’s subsidiary has over 20 years of experience in nuclear power services and has collaborated with Tsinghua University on technology applied in national energy projects [4]

Core Viewpoint - The company Zhangguang Co., Ltd. announced that its subsidiary Hanjete has applied for a patent related to a purification resin for cooling liquids, which addresses corrosion issues in data center cooling systems caused by dissolved oxygen, ionic impurities, and bacteria [2]. Company Summary - The patented invention is designed for use in data center cooling systems, aiming to prevent damage to electronic components due to corrosion [2]. - Currently, the sales volume of such products is relatively small and is not expected to have a significant impact on the company's overall performance [2].

Group 1: Company Products and Applications - The company provides cooling equipment for data centers, including liquid cooling systems and heat exchange devices [3] - Key products include "Variable Frequency Centrifugal Chiller" and "Integrated Natural Cooling Function Air-Cooled Screw Chiller," both listed in the Ministry of Industry and Information Technology's directory of advanced applicable technologies for national green data centers [3] - Successful domestic projects include major data centers such as the National Supercomputing Center in Guangzhou and China Mobile's big data center in Guizhou [3] Group 2: Market Expansion and International Collaboration - The company collaborates with local integrators in North America, Australia, Southeast Asia, and the Middle East, indicating a high market demand [3] - The upgraded IDC-specific ACM magnetic levitation and air suspension series products are set to enhance competitiveness [3] - The overseas manufacturing base supports tactical expansion while domestic manufacturing begins to assist international markets [3] Group 3: Future Growth Opportunities - Potential growth markets include cooling equipment for nuclear power plants, temperature control equipment for hydropower stations, deep-sea economic equipment, and industrial heat pumps aligned with carbon neutrality policies [3]

Group 1: Company Overview - The company focuses on Metal Injection Molding (MIM) technology, with applications in consumer electronics, automotive, and smart home sectors [1] - The company has established a strong client base, including major brands like Apple, Samsung, Xiaomi, Google, Schaeffler, and Magna [1] - The company has been recognized as a "National Manufacturing Single Champion Demonstration Enterprise" by the Ministry of Industry and Information Technology in November 2021 [1] Group 2: Market Trends and Opportunities - The market for foldable smartphones is projected to reach 19.8 million units by 2025, maintaining a market penetration rate of approximately 1.6% [1] - The growth rate for foldable smartphones is expected to increase by 40% to 60% year-on-year by 2026, driven by Apple's entry and new product launches [1] - The company is involved in both MIM components for foldable screens and hinge assembly for foldable smartphones, positioning itself to capitalize on industry trends [1] Group 3: Cooling Solutions and Market Growth - The data center cooling market is expected to reach $16.87 billion by 2028, with a compound annual growth rate (CAGR) of 18.4% [2] - Liquid cooling is anticipated to increase its market penetration from 17% in 2024 to 33% by 2028, outperforming air cooling in thermal efficiency [2] - The company is actively developing new products and projects in the cooling sector, focusing on energy storage and edge computing servers [2] Group 4: Financial Projections and Investment Outlook - Revenue projections for the company are estimated at 2.616 billion yuan, 3.264 billion yuan, and 3.921 billion yuan for the years 2025 to 2027, respectively [3] - The current price-to-earnings (PE) ratios are projected to be 40.23, 24.66, and 19.93 for the same years [3] - The company has initiated stock incentives and convertible bond financing, indicating a commitment to enhancing internal governance and competitive capabilities [3]

Group 1: Company Overview and Business Segments - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with products including compressors and heat exchangers, covering a temperature range of -271°C to 200°C [2] - The company has developed a full range of magnetic levitation compressor products, showcasing significant technological advantages and market performance, particularly in the Beijing Winter Olympic Village project [2] - Key customer industries include food freezing and refrigeration, chemical production, commercial air conditioning, and industrial special air conditioning [2] Group 2: Innovations in Nuclear Fusion and Low-Temperature Applications - The company successfully developed a helium compressor for low-temperature applications in 2016, filling a domestic gap and supplying the Chinese Academy of Sciences [2] - The helium compressor is crucial for superconducting magnet cooling systems, enabling the creation of near absolute zero environments [2] - The company’s helium compressors are included in the first batch of major technological equipment projects recognized by the National Energy Administration [2] Group 3: Data Center Solutions - The company provides cooling equipment for data centers through its subsidiaries, including variable frequency centrifugal chillers and integrated natural cooling systems [3] - Successful projects include collaborations with major data centers across China and partnerships with local integrators in North America, Australia, Southeast Asia, and the Middle East [3] Group 4: Nuclear Power Industry Products - The company focuses on core scenarios in nuclear power, developing innovative technologies for nuclear island cooling and heat recovery [4] - It has provided services to multiple nuclear power stations in China, enhancing safety and efficiency in energy utilization [4] Group 5: Industrial Heat Management - The company has launched comprehensive industrial heat control solutions, integrating advanced technologies for energy recovery and utilization [6] - It has been recognized as a national-level specialized "little giant" enterprise, with numerous patents and awards for its innovative technologies [6] Group 6: Marine Economy and Refrigeration Systems - The company is a leader in the marine refrigeration market, providing solutions for deep-sea fishing and seafood processing [7] - It has developed low-carbon energy systems for marine applications, aligning with national strategies for high-quality marine economic development [7] Group 7: Competitive Advantages - The company’s competitive edge lies in continuous technological innovation, with multiple national recognitions and awards for its products and technologies [7] - It has established a central research institute to strengthen foundational and strategic technology development, further solidifying its industry leadership [7]