超频三（300647.SZ）12月24日在投资者互动平台表示，目前，公司散热领域涉及的散热产品主要包括 消费电子散热配件、LED照明散热组件等，主要用于CPU等机箱内热源的散热及LED照明灯具的散热； 同时，公司参股持有深圳市链力液冷设备技术有限公司10%的股权。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：公司在液冷服务器方面有哪些布局？ ...

格隆汇12月22日丨苏州天脉(301626.SZ)公布，公司拟与李炜先生、刘晓川先生及吕磊先生签署《投资 协议》。李炜先生、刘晓川先生及吕磊先生拟出资成立苏州天星智鹄企业管理合伙企业（有限合伙） （暂定名，最终名称以工商核准名称为准，简称"合伙企业"、"持股平台"或"天星智鹄"）作为员工持股 平台，与公司共同投资成立合资公司天脉昇同科技（苏州）有限公司（暂定名，简称"合资公司"或"标 的公司"），专注于服务器液冷散热业务，主要从事服务器液冷散热产品的研发、生产和销售。合资公 司的注册资本为人民币10,000万元，其中，公司认缴注册资本人民币9,250万元，占合资公司注册资本的 比例为92.5%，公司控股合资公司，且合资公司纳入公司合并报表范围；持股平台认缴注册资本人民币 750万元，占合资公司注册资本的比例为7.5%。合资公司各股东同比例实缴出资，具体金额及缴付出资 的期限以合资公司章程约定为准。 ...

（编辑 任世碧） 证券日报网讯 12月22日，飞荣达在互动平台回答投资者提问时表示，公司目前在服务器、终端设备领 域研发的散热产品包含导热材料及各类散热模组、风扇、3DVC散热器、特种散热器、单相液冷冷板模 组、两相液冷冷板模组等，公司在液冷散热领域也已展现出显著的技术优势，在业务推进上取得了显著 进展。数据中心、服务器客户包括：H公司、中兴、思科、浪潮、大唐移动、烽火超微、新华三、超聚 变、联想、纬创、纬颖、仁宝、华硕、东方通信、神州鲲泰及其他重要客户等。关于部分重要客户的合 作细节，因涉及商业保密协议，不便于对外披露。随着液冷散热市场空间和市场潜力的逐步释放，公司 将依托技术创新、产品优化，以及在市场服务的深度挖掘，持续巩固并扩大公司在散热领域的竞争优 势。同时，公司也将持续加大对液冷相关产品的研发及技术创新投入，不断探索和深化液冷技术在各个 领域的应用，以推动公司产业进步和满足市场需求。 ...

证券日报网讯12月19日，硕贝德（300322）在互动平台回答投资者提问时表示，公司控股子公司东莞市 合众导热科技有限公司及其全资子公司惠州市硕众导热科技有限公司主要从事导热、散热产品等研发、 生产及销售，主要产品有热管、VC、液冷板及散热模组，产品可用于手机、游戏机、笔记本电脑、基 站、服务器、光伏储能及新能源汽车等领域。 ...

Core Viewpoint - The company plans to invest 61.2 million yuan to acquire a 51% stake in Shenzhen Guanding Metal Technology Co., Ltd, a leading provider of AI computing liquid cooling solutions, enhancing its capabilities in the liquid cooling technology sector [1][2] Group 1: Investment Details - The investment will involve a capital increase of 2.22222 million yuan from the company's subsidiary, Dongguan Keli Star Electronics Co., Ltd, while the original actual controller of Shenzhen Guanding will contribute 30 million yuan [1] - Shenzhen Guanding specializes in comprehensive solutions for AI computing liquid cooling products and has become a core supplier in the liquid cooling field [1] Group 2: Product and Technology Overview - The target company has a rich experience in research and development in the cooling field, with products including water cooling plates, immersion cooling modules, and various heat dissipation modules [1] - Its products are widely used in AI servers, GPUs, supercomputing centers, data centers, cloud computing, aerospace, energy storage, new energy, and lasers [1] Group 3: Strategic Implications - The acquisition will allow the company to integrate mature liquid cooling product technology and patent reserves, reducing the self-research cycle and quickly seizing the high ground in liquid cooling technology [2] - This move aligns with the company's strategy to create a new business growth point in the AI computing era by combining "connectors + liquid cooling" and "precision electronics + liquid cooling" [2]

Group 1 - The company plans to invest 61.2 million yuan to acquire 51% equity in Shenzhen Guanding, enhancing its presence in the liquid cooling sector [1] - The target company specializes in AI computing liquid cooling solutions and has become a core supplier for leading clients in the liquid cooling field [2][3] - The target company has a comprehensive R&D and production process for thermal management, which includes various welding techniques and capabilities for mold development and surface treatment [3] Group 2 - The acquisition will help the company expand its customer resources and enrich its liquid cooling product portfolio, allowing for quick entry into core application scenarios [4] - By acquiring a company with core R&D capabilities in liquid cooling technology, the company aims to integrate mature liquid cooling product technologies and patents, reducing the self-development cycle [4] - The strategic move is expected to create new business growth points in the AI computing era by combining connector and liquid cooling technologies [4]

Core Viewpoint - The company, Chao Ping San (300647), is focusing on expanding its business in the thermal management sector, particularly in consumer electronics and LED lighting components, indicating strong growth potential in this area [1] Group 1: Business Focus - The company's thermal management products primarily include cooling accessories for consumer electronics and thermal components for LED lighting [1] - The company aims to maintain its inherent advantages in electronic product thermal devices while exploring market opportunities in the thermal management sector [1] Group 2: Strategic Direction - The company plans to continue focusing on its thermal management business and will strategically align its industry layout with market demand and its strategic planning [1]

Company Overview - Suzhou Tianmai Thermal Technology Co., Ltd. was established in 2007, initially focusing on thermal interface materials, which have high technical barriers in the mid-to-high-end product market [2][4]. - The company has developed high thermal conductivity, low volatility, and low oil thermal silicone sheets, widely used in consumer electronics, security monitoring, automotive electronics, and communication equipment [2][4]. Product Development - In 2012, the company independently developed artificial graphite materials for heat dissipation, responding to the increasing demand for thermal management in consumer electronics [3]. - The company has invested in research and development of heat pipes and temperature equalization plates since 2014, despite initial market uncertainties [3]. New Projects - The company plans to invest in two new projects: 1. **Suzhou Tianmai Thermal Products Intelligent Manufacturing Base**: - Land area: 100 acres - Total investment: 1.7 billion CNY - Expected annual production capacity: 30 million high-end temperature equalization plates [4][5]. 2. **Suzhou Tianmai Thermal Products Intelligent Manufacturing Base (Hui Kai Road)**: - Total investment: 600 million CNY - Expected annual production capacity: 18 million high-end temperature equalization plates [5]. Financial Performance - For the first three quarters of 2025, the company reported: - Revenue: 818.44 million CNY, a year-on-year increase of 18.42% - Non-recurring net profit: 137.49 million CNY, a year-on-year increase of 2.24% [9][10]. - The lower growth rate of non-recurring net profit compared to revenue is attributed to increased management and R&D expenses, which rose by 38.76% and 36.20% respectively [10]. Strategic Goals - The 2025 restricted stock incentive plan aims to set challenging performance targets based on: 1. Industry prospects and market opportunities, particularly in emerging fields like smartphones, new energy vehicles, and 5G base stations [8]. 2. The company's strategic investments and capacity layout, which provide a solid foundation for future revenue growth [8]. 3. A balance between challenge and feasibility in performance targets to effectively motivate the team [8][9]. Product Applications - The company's thermal interface materials include thermal pads, thermal gels, phase change materials, thermal pastes, and liquid metals, with thermal conductivity reaching up to 15 W/m.K [10].

Core Viewpoint - The company, Zhongshi Technology, is expected to see significant growth in net profit for the first three quarters of 2025, driven by increased demand in the consumer electronics sector and advancements in AI-enabled cooling solutions [1][2]. Financial Performance - The projected net profit attributable to shareholders is between 230 million to 270 million yuan, representing a year-on-year growth of 74.16% to 104.45% [1]. - The net profit for the third quarter alone is expected to be between 115 million to 145 million yuan, with a year-on-year increase of 65.79% to 109.04% [1]. - The impact of non-recurring gains and losses on net profit is estimated to be around 15.2 million yuan [1]. - For the first half of the year, the company reported revenue of 748 million yuan, a year-on-year increase of 16.12%, and a net profit of 121 million yuan, up 93.74% [2]. Business Development - The company is benefiting from the traditional peak season in the consumer electronics industry, with increased shipments of thermal materials and components due to new product launches from major North American clients [1]. - Zhongshi Technology is actively promoting new cooling solutions in emerging sectors such as AI-enabled consumer electronics and digital infrastructure, contributing to rapid revenue growth in high-efficiency cooling modules and core thermal components [1]. - The company has developed a new VC liquid cooling technology, which is being validated for mass supply to major clients in North America [2]. Industry Trends - The shift from air cooling to liquid cooling in data centers is being driven by increasing power demands from chips and cabinets, aligning with market trends [2]. - The global liquid cooling market for data centers is projected to grow from 2.6 billion USD in 2023 to 7.8 billion USD by 2028 [2].

Core Viewpoint - Zhongshi Technology (300684.SZ) expects a significant increase in net profit for the first three quarters of 2025, projecting a range of 230 million to 270 million yuan, representing a year-on-year growth of 74.16% to 104.45% [2] Group 1: Financial Performance - The company anticipates net profit attributable to shareholders to be between 230 million and 270 million yuan for the first three quarters of 2025 [2] - This projected profit growth is attributed to the release of new products by major North American clients and the ramp-up of new projects, leading to increased shipment volumes of thermal materials and components [2] Group 2: Market Position and Strategy - The company has improved its product category penetration and market share during the reporting period [2] - Zhongshi Technology is expanding its thermal solution offerings in emerging sectors such as AI-enabled consumer electronics and digital infrastructure, contributing to rapid revenue growth of core products [2] - The company is also focusing on product structure optimization and cost reduction to enhance profitability [2]