11月21日，申菱环境跌4.54%，成交额2.57亿元。两融数据显示，当日申菱环境获融资买入额2131.78万 元，融资偿还3910.50万元，融资净买入-1778.72万元。截至11月21日，申菱环境融资融券余额合计4.56 亿元。 融资方面，申菱环境当日融资买入2131.78万元。当前融资余额4.56亿元，占流通市值的3.39%，融资余 额超过近一年70%分位水平，处于较高位。 融券方面，申菱环境11月21日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00 元；融券余量0.00股，融券余额0.00元，超过近一年90%分位水平，处于高位。 资料显示，广东申菱环境系统股份有限公司位于广东省佛山市顺德区杏坛镇高新区顺业东路29号，成立 日期2000年7月3日，上市日期2021年7月7日，公司主营业务涉及围绕专用性空调为代表的空气环境调节 设备开展,集研发设计、生产制造、营销服务、工程安装、运营维护于一体,致力于为数据服务产业环 境、工业工艺产研环境、专业特种应用环境、公共建筑室内环境等应用场景提供人工环境调控整体解决 方案。主营业务收入构成为：设备82.94%，解决方案及服务16.68 ...

Group 1 - The company, 哈空调, reported a revenue of approximately 827 million yuan for the first three quarters of 2025, representing a year-on-year decrease of 12.19% [1] - The net profit attributable to shareholders of the listed company was a loss of approximately 23.82 million yuan [1] - The basic earnings per share showed a loss of 0.0621 yuan [1] Group 2 - As of the report date, the market capitalization of 哈空调 is 2.4 billion yuan [1]

Core Viewpoint - The company reported a significant decline in revenue and a net loss for the third quarter of 2025 compared to the previous year [1] Financial Performance - The total operating revenue for the first three quarters of 2025 was 827 million yuan, representing a year-on-year decrease of 12.19% [1] - The net profit attributable to shareholders of the parent company was -23.82 million yuan, compared to a net profit of 1.43 million yuan in the same period last year [1] - The basic earnings per share were -0.0621 yuan [1]

哈空调公告，第三季度营收为2.78亿元，同比增长19.21%；净利润亏损1617.85万元。前三季度营收为 8.27亿元，同比下降12.19%；净利润亏损2382.15万元。 ...

Core Viewpoint - The company’s subsidiary, Fengbo Environment, is involved in the construction of a 2400-meter deep underground constant temperature and humidity laboratory project, showcasing the company's technical strength and engineering experience in precision environmental control [1] Group 1 - The project is designed and integrated by Fengbo Environment, highlighting the company's comprehensive solution capabilities [1] - The core equipment utilized in the project includes high-precision constant temperature and humidity units developed by the company [1] - The project encompasses multiple key modules, including a fresh air handling system, automation control system, electrical supporting system, and laboratory renovation works [1]

Core Viewpoint - On October 9, 2023, Shenling Environment experienced a decline of 2.65% in stock price with a trading volume of 1.065 billion yuan, indicating market volatility and investor sentiment towards the company [1]. Financing Summary - On the same day, Shenling Environment had a financing purchase amount of 165 million yuan and a repayment of 112 million yuan, resulting in a net financing purchase of 52.16 million yuan [1]. - As of October 9, the total financing and securities lending balance for Shenling Environment was 658 million yuan, which represents 3.56% of its circulating market value and is above the 90th percentile of the past year, indicating a high level of financing activity [1]. - In terms of securities lending, there were no shares repaid or sold on October 9, with a remaining quantity of 100 shares and a securities lending balance of 6,942 yuan, which is above the 70th percentile of the past year, also indicating a high level of activity [1]. Company Overview - Shenling Environment, established on July 3, 2000, and listed on July 7, 2021, is located in Shunde District, Foshan City, Guangdong Province. The company specializes in air environment regulation equipment, focusing on research, design, manufacturing, marketing, installation, and maintenance services [2]. - The company's main business revenue composition includes 82.94% from equipment sales, 16.68% from solutions and services, and 0.38% from other sources [2]. - As of June 30, 2023, the number of shareholders was 22,200, a decrease of 1.82% from the previous period, while the average circulating shares per person increased by 1.85% to 8,969 shares [2]. Financial Performance - For the first half of 2023, Shenling Environment reported a revenue of 1.682 billion yuan, representing a year-on-year growth of 28.95%, and a net profit attributable to shareholders of 150 million yuan, reflecting a year-on-year increase of 35.95% [2]. Dividend Information - Since its A-share listing, Shenling Environment has distributed a total of 217 million yuan in dividends, with 138 million yuan distributed over the past three years [3]. Institutional Holdings - As of June 30, 2023, among the top ten circulating shareholders, E Fund Supply-side Reform Mixed Fund (002910) was the seventh largest shareholder with 2.6008 million shares, marking a new entry. Hong Kong Central Clearing Limited was the ninth largest shareholder with 1.8120 million shares, an increase of 498,600 shares from the previous period. Additionally, Baoying Strategy Growth Mixed Fund (213003) was the tenth largest shareholder with 1.4185 million shares, also a new entry [3].

Summary of Shunling Environment Conference Call Company Overview - Shunling Environment has over 20 years of experience in the professional temperature control equipment sector, transitioning from a device seller to a vertically integrated solution provider, focusing on four main scenarios: data services, industrial applications, and special workpieces [2][4][5] Financial Performance - In the first half of 2025, the company reported revenue of 1.68 billion yuan, a year-on-year increase of 29%, with the data services segment accounting for over 50% of total revenue, growing by 43.77% year-on-year [2][6] - The net profit attributable to shareholders was 150 million yuan, up 36% year-on-year, indicating significant recovery in profitability [2][6] - New orders from January to August increased by 200% year-on-year [2][6] Future Revenue Projections - Revenue projections for 2025 to 2027 are 4.4 billion yuan, 6.4 billion yuan, and 8.3 billion yuan, respectively, with a compound annual growth rate (CAGR) of nearly 40% [3][4] - Net profit forecasts for the same period are 290 million yuan, 420 million yuan, and 670 million yuan [3][4] Market Position and Competitive Advantage - Shunling Environment holds a leading position in the domestic data center temperature control market, similar to the role of Xiaowei [3] - The company has made breakthroughs in overseas markets, indicating significant future market potential [3] - The company differentiates itself by providing not only products but also operational services and comprehensive energy consumption management solutions for data centers [9] Data Center Trends - The data center segment is expected to benefit from the increasing proportion of intelligent computing centers and rapid development in chip computing power [7] - By 2026, global data center computing power demand is projected to reach 96 GW, with AI accounting for 40 GW [7] Liquid Cooling Technology - The transition from air cooling to liquid cooling is seen as a significant trend, with Shunling Environment having developed a full-chain solution since 2011 [8] - Current market focus on liquid cooling is primarily on GPU and CPU, but other components also require cooling [8] Energy Management in Data Centers - Energy management is critical for data centers, especially in meeting PUE (Power Usage Effectiveness) standards [10] - The company has developed a series of vertical solutions for energy planning, system design, and lifecycle monitoring to enhance energy efficiency [11] Client Base - Major clients include China Mobile, China Telecom, China Unicom, Huawei, ByteDance, Tencent, Alibaba, Meituan, Kuaishou, and JD.com, with strong collaboration and revenue growth from these key accounts [13] Other Focus Areas - Besides data services, the company is also targeting industrial and special scenarios for thermal management, with a focus on distributed energy and nuclear power [14] Risks to Monitor - Potential risks include lower-than-expected computing power demand, chip supply issues, international trade friction, and intensified industry competition [16]

Core Viewpoint - Guangzhou Jiale Air Conditioning and Electromechanical Equipment Co., Ltd. has been established with a registered capital of 30,000 RMB, indicating a new player in the air conditioning and mechanical equipment sector [1] Company Overview - The company specializes in the sales of refrigeration and air conditioning equipment, showcasing its focus on the HVAC (Heating, Ventilation, and Air Conditioning) market [1] - It also engages in the recycling and wholesale of renewable resources, indicating a commitment to sustainability [1] - The company offers a wide range of services including professional cleaning, disinfection, and installation of household appliances, which may enhance its service portfolio [1] Business Activities - The operational scope includes mechanical equipment installation, daily appliance repair, and engineering contracting, suggesting a diversified business model [1] - The company is involved in the sale of various products such as batteries, office supplies, and solar thermal utilization products, reflecting a broad market reach [1] - It provides information technology consulting and engineering management services, which may attract clients looking for comprehensive solutions [1]

天眼查App显示，近日，黑龙江省众星空调设备有限公司成立，法定代表人为范文候，注册资本2万人 民币，经营范围为一般项目：制冷、空调设备销售；家用电器销售；电子元器件与机电组件设备销售； 建筑材料销售；建筑装饰材料销售；厨具卫具及日用杂品零售；电子专用设备销售；教学用模型及教具 销售；教学专用仪器销售；显示器件销售；办公用品销售；计算机软硬件及辅助设备零售；服装服饰零 售；化妆品零售；家具销售；办公服务；普通机械设备安装服务；家用电器安装服务；通用设备修理； 日用电器修理；电气设备修理；日用产品修理；家具安装和维修服务；专业保洁、清洗、消毒服务；日 用家电零售；家用电器零配件销售；日用品销售；日用杂品销售；风机、风扇销售；气体压缩机械销 售；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；装卸搬运；金属表面处理及热 处理加工。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

Group 1 - The company announced that its second extraordinary general meeting for 2025 will be held on September 4, 2025 [2] - The meeting will review the proposal regarding the appointment of the auditing institution for the year 2025 [2]