Core Viewpoint - Chongqing Yingfan Technology Co., Ltd. successfully listed on the National Equities Exchange and Quotations (NEEQ) on September 15, 2025, marking a significant milestone in its capital market journey [2]. Group 1: Company Overview - Established in 2017, Yingfan Technology specializes in the research, production, and sales of thermal management modules and components, with products widely used in consumer electronics, servers, and high-end graphics cards [2]. - The company has developed core technologies in thermal management solutions and has been recognized as a national high-tech enterprise and a key electronic supporting enterprise in Chongqing [2]. Group 2: Market Position and Clientele - Yingfan Technology has become a leading manufacturer in the laptop thermal module market, supplying major ODM clients in the 3C industry, including Quanta, Wistron, Compal, and others, with products used in well-known laptop brands like HP, Dell, and Xiaomi [3]. - In the server sector, the company has established strong partnerships with brands such as Inspur, H3C, and Luxshare Precision [3]. Group 3: Strategic Goals and Future Plans - The company aims to become a global leader in electronic product thermal management solutions, focusing on continuous innovation and expansion into new application areas such as servers and switches [5]. - Yingfan Technology is committed to enhancing its R&D capabilities and product performance, aligning with trends in lightweight and intelligent market demands, particularly in AI computing servers and liquid cooling technologies [5]. - The company plans to leverage various financing channels to expand its operational scale and maintain competitiveness in the consumer electronics thermal module market [5].

维谛技术(Vertiv)连续多年稳居中国精密空调、UPS、微模块市场排名第一，这不仅是产品层面的领先， 更是系统能力的胜出，凭借全链系统能力+单点优势成就维谛技术行业第一标杆。 维谛技术连续20年精密空调市场排名第一：全链热管理，高效可靠满足智算中心需求 维谛技术的核心优势在于全链产品力与持续进化力。在智算时代，维谛技术能够为不同场景提供最契 合、最具长期价值的热管理解决方案。 全链覆盖：维谛技术构建了"风冷+液冷"全链热管理解决方案，从 "芯片"直达"户外"全面适配不同场景 能效领先："预冷+补冷"混动双擎自然冷却、磁悬浮技术、智能高效控制系统、机房级群控系统等创新 节能技术应用，助力实现可信PUE交付 风液融合：领先的风液混合方案以及丰富的落地经验，保障高密机柜可靠散热与业务持续稳定运行 Vertiv™ CoolChip CDU 1350，支持100kW+高密机柜，英伟达认证；二次侧水温控制精度±1℃，确保高 可靠运行，满足智算中心高热密需求 维谛技术连续17年UPS市场排名第一：不止于可靠，更是全链电能保障 维谛技术的领先，不在于单一UPS，而是覆盖"电网到芯片"的全链电能管理体系，全面适配数据中心、 ...

Group 1: Financial Performance - The company's revenue for 2024 reached 958.1261 million yuan, representing a 71.53% increase compared to 2023 [3] - The high polymer materials business generated 492.8921 million yuan in revenue, up 28.82% year-on-year [3] - The electric power business saw a revenue increase of 33.18%, while the automotive sealing strip business grew by 62.17% [3] - Revenue from the new energy sector surged by 361.36% due to advancements in high-frequency welded liquid cooling plates [3] Group 2: Profitability and Resource Allocation - The net profit attributable to shareholders, excluding non-recurring gains and losses, was 12.7177 million yuan, a 63.81% increase from the previous year [3] - The company plans to optimize resource allocation to promote balanced development across various business segments [3][4] Group 3: Market Expansion and Challenges - The overseas business revenue increased by 52.64%, driven by enhanced customer acquisition efforts [4] - The company is closely monitoring external market conditions and trade policies to adapt its strategies [4] Group 4: Debt and Financial Management - The asset-liability ratio at the end of 2024 was 46.76%, reflecting a slight increase but remaining within a healthy range [4] - The company aims to effectively use financial leverage to enhance shareholder returns while maintaining a healthy financial status [4] Group 5: Future Plans and Innovations - The company will focus on expanding its presence in the new energy sector and artificial intelligence, particularly in thermal management solutions [4][5] - Plans are in place to enhance the technical capabilities of its subsidiary, Suzhou Ruitai Technology, in the liquid cooling plate market [5][6] - The company is pursuing a dual strategy of collaborative manufacturing and independent production to drive growth in the data center cooling business [7]