香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部或任何部分內容所產生或因依賴該等內容而引致的任何損失承擔任何責任。 ZHEJIANG SANHUA INTELLIGENT CONTROLS CO., LTD. 浙江三花智能控制股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：2050） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條 而 做 出。 茲載列浙江三花智能控制股份有限公司於深圳證券交易所網站(www.szse.cn)刊 登 的 公 告 如 下，僅 供 參 閱。 承董事會命 浙江三花智能控制股份有限公司 董事長兼執行董事 張亞波 香 港，2026 年3月23日 於本公告日 期，董事會包 括 (i)執行董事張亞波先 生、王大勇先 生、倪曉明先生 及陳雨忠先 生；(ii)非執行董事張少波先生及任金土先生 及 (iii)獨立非執行董事 鮑恩斯先 生、石建輝先 生、潘亞嵐 ...

Core Viewpoint - The article discusses the upcoming "5th Advanced Thermal Management Technology Summit and AI and AI Intelligent Agent Developer Forum" scheduled for March 23-24, 2026, in Shanghai, China, focusing on opportunities and challenges in thermal management technology across various sectors, including AI servers, automotive electronics, humanoid robots, and high-performance chips [3][4]. Group 1: Event Overview - The summit will feature over 70 speakers and 600 industry experts, covering key topics such as AI server data centers, automotive electronics, humanoid robots, and smart terminals [4]. - The event will include a main conference and four specialized sessions, focusing on high-performance and high-power chip thermal management technology [4]. Group 2: Key Topics and Technologies - Key technologies discussed will include AI and AI intelligent agents, AI server data centers, smart terminals, humanoid robots, high-performance and high-power chips, high thermal conductivity materials, and microchannel cooling technology [4]. - Specific sessions will address liquid cooling technologies, embedded microfluidic cooling, and thermal management solutions for AI computing infrastructure [5][6]. Group 3: Participating Companies and Presentations - Notable companies participating include ZTE Corporation, Lenovo, and Ansys, presenting on topics such as high-power liquid cooling technology and thermal simulation solutions [5][15]. - Various universities and research institutions, including Peking University and Xiamen University, will also present their findings on advanced thermal management technologies [6][17]. Group 4: Industry Challenges and Innovations - The summit will explore challenges in thermal management for electric vehicle motor controllers and the principles of automotive thermal management design [8][23]. - Innovations in thermal management for humanoid robots will be discussed, focusing on key difficulties such as high power density and dynamic coupling effects [7][22].

Core Insights - The article emphasizes that thermal management technology has evolved beyond traditional cooling, becoming essential for breakthroughs in computing power, energy efficiency, and product reliability, particularly in advanced fields like AI, smart vehicles, and aerospace [2] - The "Insight Thermal Management 2026" series aims to create a comprehensive platform for industry, academia, and research to address thermal control challenges and establish new thermal balance standards [2] Group 1: Event Overview - The 2026 Future Industry New Materials Expo (FINE2026) will take place from June 10-12 at the Shanghai New International Expo Center, featuring over 50,000 square meters of exhibition space and more than 300 strategic and cutting-edge technology reports, expecting to attract over 100,000 professional visitors [3] - The Shanghai event will focus on high heat flux density challenges, showcasing liquid cooling plates, AI chips, and power device thermal management [6] Group 2: Shanghai Event Highlights - The Shanghai exhibition will emphasize the integration of the Yangtze River Delta industrial cluster, focusing on data centers, new energy vehicles, semiconductors, energy storage systems, and large power facilities [8] - Key topics will include battery thermal management under high-power fast charging, automotive-grade power module cooling, and industrial-grade heat exchange solutions aimed at carbon neutrality [8] Group 3: Shenzhen Event Overview - The seventh Thermal Management Industry Conference and Expo (iTherM2026) will be held in Shenzhen in December 2026, focusing on the flexibility of technology and rapid market response [9] - The Shenzhen event will address the thermal challenges of miniaturized and integrated electronic devices and chips, providing a one-stop value connection platform for the thermal management industry [9] Group 4: Shenzhen Event Highlights - The Shenzhen exhibition will spotlight AI computing servers, smartphones, wearable devices, and low-altitude economy sectors, showcasing technologies like immersion cooling and new thermal interface materials [11] - The event aims to facilitate the commercialization of innovative technologies and provide a platform for startups and tech giants to showcase their ideas [11] Group 5: Previous Event Recap - The 2025 Shenzhen Thermal Management Expo featured numerous companies presenting new materials, processes, and system-level cooling solutions, attracting significant engagement from engineers and professionals [12] - The event successfully transitioned from "display" to "connection," fostering interactions between technology teams and industry demand [16]

Core Insights - The article emphasizes that thermal management technology is crucial for breakthroughs in computing power, energy efficiency, and product reliability, especially in advanced fields like AI, smart vehicles, and semiconductors [2] - The "洞见热管理2026" series aims to create a comprehensive platform for industry, academia, research, and application to address thermal control challenges and establish new thermal balance standards [2] Group 1: Event Overview - The 2026 Future Industry New Materials Expo (FINE2026) will take place from June 10-12 at the Shanghai New International Expo Center, featuring an exhibition area of 50,000 square meters and over 300 strategic and cutting-edge technology reports, expecting to attract more than 100,000 professional visitors [3] - The Shanghai event will focus on high heat flux density scenarios, showcasing liquid cooling plates, AI chips, and power device thermal management [6] Group 2: Shanghai Event Highlights - The Shanghai exhibition will emphasize the integration of the Yangtze River Delta industrial cluster, particularly in data centers, new energy vehicles, semiconductors, energy storage systems, and large power facilities [8] - Key topics will include battery thermal management under high-power fast charging, automotive-grade power module cooling, and industrial-grade heat exchange solutions aimed at carbon neutrality [8] Group 3: Shenzhen Event Overview - The seventh Thermal Management Industry Conference and Expo (iTherM2026) will be held in Shenzhen in December 2026, focusing on the flexibility of technology and rapid market response [9] - The Shenzhen event will address the thermal challenges of miniaturized and integrated electronic devices and chips, providing a one-stop value connection platform for the thermal management industry [9] Group 4: Shenzhen Event Highlights - The Shenzhen exhibition will spotlight AI computing servers, smartphones, wearable devices, and low-altitude economy sectors, showcasing immersion cooling technology and new thermal interface materials for compact spaces [11] - The event aims to facilitate the commercialization of innovative technologies and provide a platform for startups and tech giants to showcase their ideas [11] Group 5: Previous Event Recap - The 2025 Shenzhen Thermal Management Expo featured numerous companies presenting new materials, processes, and system-level cooling solutions, attracting significant engagement from engineers and professionals [12] - The event successfully transitioned from "display" to "connection," highlighting the importance of industry collaboration and the rapid generation of cooperation intentions [16]

Core Insights - The article emphasizes that thermal management technology has evolved beyond traditional cooling methods and is now critical for breakthroughs in computing power, energy efficiency, and product reliability, especially in advanced fields like AI, smart vehicles, and semiconductors [2] - The "洞见热管理2026" series aims to create a comprehensive platform for industry, academia, research, and application to address thermal control challenges and establish new thermal balance standards [2] Group 1: Event Overview - The 2026 Future Industry New Materials Expo (FINE2026) will take place from June 10-12 in Shanghai, featuring an exhibition area of 50,000 square meters and over 300 strategic and cutting-edge technology reports, expecting to attract more than 100,000 professional visitors [3] - The event will include specialized exhibitions on thermal management liquid cooling plates and AI chip and power device thermal management, focusing on engineering challenges in high heat flux density scenarios [6] Group 2: Shanghai Station Focus - The Shanghai station will concentrate on the Yangtze River Delta industrial cluster, emphasizing sectors such as data centers, new energy vehicles, semiconductors, energy storage systems, and large power facilities [8] - Key topics will include battery thermal management under high-power fast charging, automotive-grade power module cooling, and industrial-grade heat exchange solutions aimed at carbon neutrality [8] Group 3: Shenzhen Station Focus - The seventh Thermal Management Industry Conference and Expo (iTherM2026) will be held in Shenzhen in December 2026, focusing on the flexibility of technology and rapid market response [9] - The Shenzhen station will highlight the thermal challenges of miniaturized and integrated electronic devices and chips, serving as a one-stop value connection platform for the thermal management industry [9] Group 4: Previous Event Review - The 2025 Shenzhen Thermal Management Expo (iTherM2025) showcased numerous new materials, processes, and system-level cooling solutions, attracting significant engagement from engineers and professionals [12] - The event facilitated project-based discussions between exhibitors and companies like BYD, focusing on specific application needs and collaborative research opportunities [14] Group 5: Industry Collaboration - The 2025 expo successfully transitioned from "display" to "connection," highlighting the importance of industry collaboration and the rapid generation of cooperation intentions [16] - High-level forums during the event covered various topics, including thermal science, radiation cooling, thermal interface materials, and battery thermal management, showcasing cutting-edge achievements from multiple perspectives [16]

Core Viewpoint - Feirongda (300602.SZ) has a certain level of technological reserve in microchannel liquid cooling plate technology, positioning itself as a leading enterprise in domestic thermal management solutions [1] Group 1: Company Overview - The company offers a wide range of thermal management products and continuously develops new technologies and products to meet market demands [1] - Feirongda aims to satisfy various customer needs across different product types, usage environments, and levels of application [1] Group 2: Industry Positioning - The company will continue to monitor developments in relevant technological fields to enhance its overall competitive advantage [1]

Core Viewpoint - The company, Invt, has successfully developed motor products that utilize three types of thermal management technologies: natural cooling, air cooling, and water cooling, which can meet diverse customer needs across various scenarios [2] Group 1 - The company's motor products are mature and have been applied in natural cooling, air cooling, and water cooling thermal management solutions [2] - These technologies are designed to adapt to multiple customer requirements in different environments [2]

Core Viewpoint - The article emphasizes the importance of liquid cooling technology in the electric vehicle and energy storage markets, highlighting the emergence of key suppliers in the Yangtze River Delta region that possess core welding and precision processing capabilities [2]. Group 1: Liquid Cooling Plate Technology Routes - The liquid cooling plate technology is categorized into four main types based on manufacturing processes and application scenarios: 1. Roll-bonded: This method involves two layers of aluminum plates, which are combined and inflated to form flow channels. It is cost-effective, has high heat exchange efficiency, and is widely used in cost-sensitive passenger vehicles and small energy storage systems [3]. 2. Stamping & Brazing: This technique involves stamping aluminum plates into flow channel shapes and connecting them with a cover plate through vacuum brazing or continuous brazing. It offers high structural strength and flexible flow channel design, making it suitable for complex thermal management needs, currently the most mainstream solution for power battery packs [4]. 3. Extruded/Harmonica Tube: This method uses molds for direct extrusion, followed by cutting and welding. It has excellent pressure resistance and high standardization, commonly used in commercial vehicle battery packs or standardized energy storage modules [6]. 4. FSW/Diffusion Bonding: This solid-state connection technology achieves sealing through physical pressure or atomic diffusion, providing high weld strength and superior sealing performance, ideal for high-end passenger vehicles, marine applications, military, and high-power heat dissipation fields [9]. Group 2: Key Companies in the Yangtze River Delta - A compilation of over 30 core manufacturers in the Yangtze River Delta region specializing in battery and energy storage liquid cooling plates includes: - Sanhua Holding Group: A global leader in thermal management, providing system-level solutions and control components for automotive, building HVAC, and home appliances [11]. - Zhejiang Yinlun Machinery: A leading listed company in thermal management with four core product platforms, serving commercial vehicles, passenger vehicles, new energy, and industrial sectors [11]. - Jiangsu Jingyan Technology: A leader in MIM technology focusing on edge computing liquid cooling and precision structural components for consumer electronics, automotive, energy storage, and servers [11]. - Kexin New Energy (Ruitai): Offers various types of power/storage liquid cooling plates, including roll-bonded and stamping & brazing types, for power batteries, energy storage, and 5G communication [11]. - Nabichuan New Energy: Provides a full range of cooling plates including harmonica tube, stamping, and extruded types for automotive engines and power battery thermal management [11]. - Suzhou Zhengbei Connection: Focuses on connector and liquid cooling connection solutions with core patented conductive technology for new energy vehicles, energy storage, and data centers [11]. - Changzhou Hengchuang Thermal Management: Engages in automated production across the entire industry chain, including heat dissipation modules, heat exchangers, and components for automotive, energy storage, base stations, and refrigeration [11]. Group 3: Upcoming Industry Events - The FINE 2026 Thermal Management Liquid Cooling Plate Industry Exhibition is scheduled for June 10-12, 2026, at the Shanghai New International Expo Center, featuring a comprehensive coverage of the industry chain and showcasing the latest technologies in roll-bonding, brazing, and friction welding [13][14].

Core Viewpoint - The article highlights the rapid growth and innovation in China's new materials industry, particularly in the context of the Future Industries New Materials Expo 2026, showcasing advancements in various sectors including energy storage and automotive applications [5][8]. Company Overview - Nanbaichuan officially listed on the Shenzhen Stock Exchange's Growth Enterprise Market on December 23, with an initial public offering of 27.92 million shares at a price of 22.63 yuan per share. The stock opened at 60.00 yuan, peaking at 180 yuan, and closed at 115 yuan, reflecting a 408% increase [1]. - Established in 2007, Nanbaichuan focuses on thermal management products for electric vehicle batteries, fuel vehicle power systems, and energy storage batteries, with key products including battery liquid cooling plates and engine radiators [1][2]. Financial Performance - Revenue is projected to grow from 1.031 billion yuan in 2022 to 1.437 billion yuan in 2024, with Q1 2025 revenue reported at 337 million yuan [1][2]. - R&D expenses are expected to increase from 34.07 million yuan in 2022 to 54.11 million yuan in 2024, indicating a commitment to innovation [2]. Technological Advancements - As of Q1 2025, Nanbaichuan has secured 203 authorized patents, including 20 invention patents and 183 utility model patents, forming a core technology system that encompasses temperature control, lightweight technology, and quality control optimization [2]. - The company has established a comprehensive customer base, collaborating with major automotive manufacturers such as NIO, Xpeng, and Toyota, and has adapted products for over 200 vehicle models [2]. Market Position - Nanbaichuan has successfully entered the supply chains of leading energy storage companies like CATL and Sungrow, with revenue from the energy storage sector projected to account for 23.96% in 2024 [2].

Core Viewpoint - The company emphasizes that cold plate liquid cooling and immersion liquid cooling are complementary technologies for different application scenarios, with cold plate technology remaining the mainstream solution in the market, while immersion cooling shows unique technical value in ultra-high power density scenarios [1] Group 1 - The company has two technology routes, with the "key technology and application of immersion liquid cooling equipment for data centers" recognized as reaching an internationally advanced level [1] - The company plans to continue exploring and iterating on thermal management innovation technologies [1]