Group 1: Research Basic Information - The research object is Bojie Co., Ltd., belonging to the special equipment industry, with a reception time of October 14, 2025, and the listed company's reception staff is the board secretary Huang Can [16] Group 2: Detailed Research Institutions - The research institutions include Fangzheng Huisheng (investment company, representative: Han Zhenguo), Yuanju Capital (others, representative: Yang Yan), Qianyi Capital (others, representative: Sun Linqi), Yangxiang Investment (others, representative: Dai Xi), Cinda Securities (securities company, representative: Wang Rui), E Fund (fund management company, representative: Yao Huanchen), Grain Investment (others, representative: Guo Yuanrao), Saisuo Investment (others, representative: Huang Qixu), Roadshow Era (others, representatives: Wang Jizhuo, Lin Qian), Hongrui Zhiying (others, representative: Zhang Xianfu) [17] Group 3: Main Content - The company led investors to visit the production line and then returned to the meeting room for communication [22] - In the liquid - cooled server testing field, besides N customer's demand, other customers also want to introduce liquid - cooling and testing solutions, and the company will actively expand the market. The current target is to provide thermal management solutions for customers' high - power products [23] - Liquid - cooled components are the company's future development direction and are still in progress. The self - developed liquid - cooled module products are used in the company's testing equipment. The company cooperates with the industrial chain and universities to research and develop materials needed for liquid - cooling solutions but does not produce the materials itself [23][24] - The company focuses on water - cooling heads, quick connectors, etc. in the liquid - cooling field. It will design, develop, and integrate industrial chain resources based on its competitive advantages and customer needs to achieve the launch and mass production of component products [25] - The core advantage of the company's transformation from the testing field to component supply is its high - quality customer resources. Through in - depth cooperation with customers in the testing field, it can accurately capture customer pain points and provide solutions [25] - The big data and cloud server testing field accounts for about 25% of the company's revenue [26] - Based on the needs of N customer and other customers, the orders for AI server - related testing equipment are expected to be optimistic this year. The orders for automotive electronics are growing rapidly and have been delivered. The orders in the 3C field are relatively stable. The orders for MLCC field equipment are growing rapidly as the MLCC industry has recovered since last year. The revenue of dicing machines in the semiconductor field is growing rapidly but with a small overall proportion [27]

编号：2025-010 | | √特定对象调研 □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 □业绩说明会 | | 活动类别 | □新闻发布会 □路演活动 | | | √现场参观 | | | □其他（电话会议） | | 参与单位名称 | 信达证券 王锐； 易方达 姚欢宸； 口粮投资 郭元饶；赛硕投资 黄七栩； | | 及人员姓名 | 路演时代 王寄卓、林谦；鸿睿智盈 张先富；方正和生 韩振国；源聚资本 杨艳； | | | 千一资本 孙林旗；阳翔投资 戴溪。 | | 时间 | 2025 年 10 月 14 日 15:00-17:00 | | 地点 | 楼会议室 公司产线/12 | | 上市公司接待人员 | 董事会秘书 黄璨 | | | 带领投资者参观产线，然后回会议室交流。 | | | 投资者提出的问题及公司回复情况： | | | 1、公司在液冷服务器测试领域的业务情况目前怎样？公司目前在研发的液冷 | | | 零部件主要对标 N 客户哪些产品？ | | | 答：在液冷服务器测试领域，目前除了 N 客户的需求外，还有其他客户也希望 | | 投资者关系 | 引进液冷及测试解决方案， ...