奥克斯电气 20251126 摘要 奥克斯电器预计 2026 年外销将实现三位数增长，内销增速虽受竞争影 响有限，但仍将略优于市场平均水平。在价格战不明朗的情况下，总体 利润可能同比微增，公司将持续关注中央空调、多联机、大型机组以及 热管理领域的发展。 受气候和地缘政治因素影响，2025 年奥克斯电器出口业务有所下滑， 但凭借在中东、东南亚、东欧和南美等优势市场的良好表现，预计 2026 年订单量同比增长约 20%，实现双位数规模增长。海外市场竞争 将因国内企业纷纷转向外销而加剧。 奥克斯电器通过国家代理和自营销售公司两种模式拓展海外市场，对当 地经销商具有一定把控能力。公司通过拓展网络和促销活动赋能代理商， 进行精细化库存管理，以应对气候等因素导致的库存波动。 奥克斯电器与美的、格力等龙头企业共享供应商，拥有较新的工厂和较 高的自动化率及自制率，产能利用率高达 90%以上，通过国产化、平台 化、通用化整合，提高了整体研发、制造和供应链效率，具备成本优势。 Q&A 铜价上涨对奥克斯电器成本构成压力。公司通过锁定外销订单总价并进 行锁铜套保来确保毛利，内销部分则通过价格传导至市场。2025 年铜 价上涨已反映在 ...

展会上，思泉新材系统展示了在热管理、电子防护、电磁屏蔽三大方向的综合解决方案能力，包括热仿 真设计、液冷板/均温板结构、底部填充胶、UV（紫外线）三防涂层、吸波材料等。 思泉新材方面人士称，期待与更多海外伙伴携手，用领先的热控与防护技术，共同推动全球电子产业向 着更高效、更可靠、更智能的未来迈进。 （编辑 郭之宸） 本报讯 （记者李昱丞）近日，为期三日的2025欧洲热管理技术展（以下简称"欧洲热管理展"）于德国 斯图加特展览中心落下帷幕。在本次展会上，广东思泉新材料股份有限公司（以下简称"思泉新材"）携 其前沿热管理解决方案亮相，收获广泛关注。 据悉，欧洲热管理展是欧洲唯一专注于热管理系统、组件与材料的专业平台，覆盖了汽车、航空航天、 电子、数据中心等核心领域。其中，汽车与电子行业的专业观众占比超过60%。 ...

中鼎股份近期利好不断，就在前一日，中鼎股份与上海傅利叶拟针对人形机器人相关产品展开多维度的全方位的战略合作，积极推动公司谐波减速器、行 星减速器、力觉传感器、轻量化骨骼、空心杯电机等部件总成业务发展，为加强双方的合作关系，于近日签署了战略合作协议。 中鼎股份子公司中鼎流体及中鼎智能热系统主导热管理系统总成业务的发展，在汽车热管理业务基础上积极布局储能热管理及超算中心热管理。基于自研 热管理控制器及控制算法，管路系统及密封等核心技术，公司在储能领域已推出系列化液冷机组，及浸没式液冷机组；超算中心热管理领域主要产品为 CDU(冷液分配装置)、冷板、管路等液冷系统产品，并积极布局浸没式液冷产品。此次得到客户的认可，将对公司进一步拓展数据中心热管理业务产生积 极作用。 11月24日，中鼎股份发布公告称，控股子公司安徽中鼎智能热系统有限公司（以下简称"智能热系统"）近期收到客户的通知，智能热系统成为国内某两家 液冷系统集成商液冷假负载的供应商，预计项目总金额约为1,500万元。 ...

有投资者在互动平台向标榜股份提问："董秘，您好！请问首都在线与摩尔线程存在业务合作，且合作 已深入到多个具体业务领域并进入产品落地阶段，1.算力中心建设：首都在线庆阳智算中心完成了对摩 尔线程GPU的兼容性测试与调优；双方还合作参与'京西智谷人工智能计算中心'建设，构建基于摩尔线 程GPU的全栈自主算力集群。2.技术与模型适配：首都在线的MaaS平台已适配DeepSeek等大模型，支 持在摩尔线程GPU上运行！" 财经频道更多独家策划、专家专栏，免费查阅>>责任编辑：栎树 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 针对上述提问，标榜股份回应称："尊敬的投资者，您好。公司主营业务为汽车尼龙管路及连接件等系 列产品的研发、生产和销售。公司将持续深耕，充分发挥在轻量化、热管理等方面的产品、技术优势， 不断扩大产品品类，优化产品特性，拓宽产品的应用场景。感谢您的关注。" ...

2025年12月3-5日 第六届热管理产业大会暨博览会 （简称：热博会） 将在 深圳国际会展中心宝安（10号馆） 盛大 开幕 ！本届展会覆盖热管 理材料、器件、系统解决方案与工程应用，汇聚产业链600余家热管理优质供应商，预计 吸引20,000余名专业观众到场，涵盖 研发/技术/设计、采购负责人、终端应用厂商决策者 等核心人群。 部分VIP买家名单涵 消费电子、数据中心、互联网、新能源汽车、工业制造、 高校及科研院所等 多个关键领域， 通过iTherM搭建的高效供需对接平台，构筑从技术洞察到商业合作的高速通道。 诚挚邀请国内外知名 学者、技术专家、产业上下游企业高管和代表、政府园区、科研院所和投资机构等莅临交流与 合作， 共探热管理产业新动态、新技术、新场景和新趋势，共享新质生产力千亿大市场！ 华为技术有限公司 华为数字能源技术有限公司 华为终端有限公司 荣耀终端股份有限公司 OPPO 英伟达半导体有限公司 小米通讯技术有限公司 维沃移动通信有限公司(vivo) 影石创新科技股份有限公司 深圳市腾讯计算机系统有限公司 努比亚技术有限公司 公牛集团股份有限公司 深圳三星通信技术研究有限公司 深圳市海思半导体有限 ...

Core Viewpoint - Zhongding Co., Ltd. (000887.SZ) announced that its subsidiary, Anhui Zhongding Intelligent Thermal System Co., Ltd., has been selected as a supplier for liquid cooling dummy loads by two domestic liquid cooling system integrators, with a total project value of approximately 15 million yuan [1] Group 1: Business Development - The company is actively developing thermal management system assembly business, focusing on automotive thermal management while also expanding into energy storage thermal management and supercomputing center thermal management [1] - The company has launched a series of liquid cooling units and immersion liquid cooling units in the energy storage sector, leveraging self-developed thermal management controllers and core technologies such as piping systems and seals [1] Group 2: Product Offerings - In the supercomputing center thermal management sector, the main products include CDU (Chilled Liquid Distribution Unit), cold plates, piping, and other liquid cooling system products, with a focus on developing immersion liquid cooling products [1] Group 3: Market Impact - The recognition from the client is expected to positively impact the company's efforts to further expand its data center thermal management business [1]

Core Points - The iTherM 2025 conference will focus on the thermal management industry, emphasizing the integration of electronic information, new materials, new energy, semiconductors, digital economy, automotive, smart networking, low-altitude economy, and green low-carbon industries [1][3] - The event aims to explore new dynamics, technologies, scenarios, and trends in the thermal management industry, highlighting its market potential worth billions [1] Event Details - The conference is scheduled for December 3-5, 2025, at the Shenzhen International Convention and Exhibition Center [3] - The theme of the conference is "Integration · Innovation | Delivering a Little More" [3] Organizers and Support - Organized by DT New Materials and iTherM, with support from various academic and industry experts [4][5] - The event will feature contributions from renowned scholars and industry leaders, including members from prestigious institutions [4] Conference Agenda - The agenda includes multiple specialized sessions covering topics such as thermal science, thermal interface materials, chip and electronic device management, and liquid cooling technology [5][6] - Each day will feature a series of presentations and discussions led by experts in the field, focusing on advancements and challenges in thermal management [5][6] Exhibitors and Participants - A diverse range of exhibitors will participate, showcasing innovations in thermal management materials and technologies [38][39] - Notable companies and institutions, including major players in the semiconductor and automotive sectors, are expected to attend [42]

Core Insights - The company reported a Q3 2025 revenue of 7.767 billion yuan, a year-on-year increase of 12.77% but a quarter-on-quarter decrease of 9.6% [1][2] - The net profit attributable to shareholders for Q3 2025 was 1.132 billion yuan, reflecting a year-on-year increase of 43.81% and a quarter-on-quarter decrease of 6.1% [1][2] - The company maintains a strong global leadership position in refrigeration and automotive parts, benefiting from high win rates and valuation premiums due to upcoming production orders [1][4] Revenue Performance - For the first three quarters of 2025, the company achieved a revenue of 24.03 billion yuan, up 16.86% year-on-year [2] - The refrigeration business is expected to generate approximately 4.58 billion yuan in Q3, a year-on-year increase of 9.8%, while the automotive parts business is projected to reach around 3.2 billion yuan, a year-on-year increase of 17% [3][4] Profitability Analysis - The gross margin for Q3 was approximately 28.02%, a slight decrease of 0.15 percentage points year-on-year [4] - Profitability improvements were driven by effective control of operating expenses, increased interest income, and a reversal of credit impairments [4] Future Outlook - The company expects revenues for 2025 to reach approximately 32.18 billion yuan, with year-on-year growth rates of 15.13%, 17.71%, and 18.77% projected for 2026 and 2027 [5] - The net profit forecast for 2025 is approximately 4.208 billion yuan, with significant growth anticipated in subsequent years [5]

Core Viewpoint - The iTherM 2025 conference aims to explore the latest trends, technologies, and applications in the thermal management industry, focusing on various sectors such as electronics, new materials, and green energy [2][4]. Group 1: Conference Overview - The iTherM 2025 conference will be held from December 3-5, 2025, at the Shenzhen International Convention and Exhibition Center [4]. - The event is organized by DT New Materials and iTherM, with support from various academic and industry experts [4][5]. - The conference will feature discussions on thermal management policies, materials, technologies, and engineering advancements [2][4]. Group 2: Themes and Topics - The conference will cover multiple themes, including thermal interface materials, liquid cooling technologies, and thermal management in electric vehicles [5][12][27]. - Specific sessions will focus on advancements in thermal management materials, chip thermal management, and battery thermal management [5][19][25]. Group 3: Notable Speakers and Contributors - The conference will feature prominent figures such as academicians from leading universities and researchers from various institutions, including the Chinese Academy of Sciences and Tsinghua University [4][5][33]. - Experts will present on topics ranging from heat transfer measurement innovations to AI-enabled thermal management material design [17][18]. Group 4: Industry Participation - Major companies and institutions, including BYD, Huawei, and various universities, are expected to participate, showcasing their latest technologies and research [30][31][32]. - The event aims to foster collaboration between academia, industry, and government entities to drive innovation in thermal management solutions [2][4].

Core Insights - The article highlights the emerging role of graphene in the automotive industry, particularly in seat heating systems, as a key component for energy management in electric vehicles [1][3][8] - Graphene's advantages over traditional heating methods include higher energy efficiency and better temperature control, making it a viable solution for reducing overall vehicle energy consumption during winter [3][8] Industry Developments - The 2025 China International Graphene Innovation Conference showcased the transition of graphene from laboratory research to industrial application, emphasizing its potential in the automotive sector [1][4] - The company Yuhang Paimeng has established itself as a leader in the graphene heating segment, having completed several years of technological groundwork and aiming to set industry standards [1][5] Technological Advancements - Yuhang Paimeng's graphene heating system boasts an electric heat conversion rate exceeding 95%, with rapid and uniform heating capabilities, addressing issues of localized overheating [3][8] - The company has achieved "automotive-grade" certification for its production processes, which is crucial for entering the automotive market and ensuring reliability and safety [2][5] Market Positioning - The automotive sector is identified as a key area for graphene applications due to its requirements for high reliability and scalability, with seat heating systems being a manageable entry point for mass production [4][7] - Yuhang Paimeng is actively working on establishing group standards for graphene heating systems, aiming to unify technical specifications and enhance consumer trust [5][6] Challenges and Opportunities - Despite the advantages of graphene heating, challenges such as cost pressures, long verification cycles, and complex supply chain coordination remain significant hurdles for widespread adoption [8][9] - The successful implementation of graphene in automotive heating systems could pave the way for its application in other areas, such as battery thermal management and electronic component cooling [7][9]