Core Viewpoint - The company, Invec (002837.SZ), has experienced a significant stock price fluctuation, with a cumulative increase of over 20% in the closing prices on July 30 and July 31, 2025, indicating abnormal trading activity [1] Group 1: Stock Performance - The stock price of Invec has shown a cumulative increase of over 20% over two consecutive trading days, which is classified as abnormal trading behavior [1] - The company has confirmed that there are no undisclosed significant information affecting the stock price, despite the market's heightened interest in AI, computing power equipment, and data centers [1] Group 2: Business Focus - Invec aims to leverage its technological innovation in both air cooling and liquid cooling to expand its customer base in the domestic and international data center and computing power equipment sectors [1] - The company has established a relatively complete liquid cooling technology, product, and solution capability, positioning itself to capitalize on the ongoing development of AI computing power [1]

Core Viewpoint - The company, Yingweike (002837), has noted increased market attention on AI, computing equipment, and data center industries, particularly regarding its liquid cooling business, but has confirmed no undisclosed significant information affecting stock prices [1] Group 1: Company Operations - The company is leveraging its technological advantages in air cooling and liquid cooling to expand its customer base in domestic and international data center and computing equipment sectors [1] - The company has established a relatively complete liquid cooling technology, product, and solution capability [1] - Current production and operational conditions of the company are normal, with no significant changes in its main business or external operating environment [1]

Core Viewpoint - The stock of Invec (002837.SZ) experienced an abnormal fluctuation, with a cumulative price increase of over 20% on July 30 and 31, 2025, attributed to market interest in AI, computing power equipment, and data centers [1] Group 1: Company Information - Invec has not identified any undisclosed significant information that could have impacted its stock price following a review of public media [1] - The company aims to leverage its technological advantages in air cooling and liquid cooling to expand its customer base in the domestic and international data center and computing power equipment sectors [1] - Invec has developed a relatively complete liquid cooling technology, product, and solution chain [1]

英维克：已构建相对完整的液冷全链条技术、产品和解决方案的能力 智通财经7月31日电，英维克(002837.SZ)发布异动公告，公司发现近期市场对AI、算力设备、数据中心 等行业动态较为关注，对公司的液冷相关业务有较多关注和讨论，经核查，未发现近期公共传媒报道了 可能或已经对公司股票交易价格产生较大影响的未公开重大信息。随着AI算力的持续发展，公司希望 凭借在风冷和液冷的技术创新优势，持续展开国内外的数据中心及算力设备等行业客户的拓展，并已构 建相对完整的液冷全链条技术、产品和解决方案的能力。目前公司生产经营情况正常，主营业务未发生 重大变化，内外部经营环境未发生重大变化。 ...

Global Economic Outlook - Citigroup economists predict that global economic growth will slow from 2.8% in 2024 to 2.3% in 2025 due to the impact of tariffs, with the full effects expected to manifest in the second half of this year [1] - Goldman Sachs forecasts that inflation caused by tariffs will likely not persist for long, as the U.S. economy is entering a weaker state compared to the inflationary periods of 2021 and 2022 [1] - John Hardy from Saxo Bank warns that the U.S. Treasury should monitor risks in the Japanese government bond market, as Japan's debt situation is becoming more severe [1] Japanese Yen and Bond Market - Mitsubishi UFJ analysts suggest that the depreciation of the yen may still have room to continue, despite recent declines in long-term Japanese government bond yields [2] - Analysts from Bank of America indicate that the Bank of Japan is unlikely to address the supply-demand imbalance in the long-term bond market, continuing to reduce bond purchases until March 2026 [3] - State Street Global Advisors describes the challenges in the Japanese bond market as "technical" rather than "structural," suggesting that these issues can be resolved through adjustments in issuance [4] Chinese Aviation and Energy Sector - China International Capital Corporation (CICC) reports that the significant drop in oil prices this year is expected to improve the cost structure for airlines, with a solid foundation for the aviation cycle to start [5] - CICC also highlights opportunities in the diesel generator sets and large-bore engines used in data centers, driven by high demand for AI infrastructure [6] Consumer Goods and Pet Industry - Huatai Securities emphasizes the potential for recovery in the consumer sector, particularly in the food and beverage industry, as consumption trends improve [7] - Huaxi Securities projects that China's pet industry could reach a market size of 478.7 billion yuan by 2030, with a compound annual growth rate (CAGR) of 6.9% from 2024 to 2030 [8] Investment Strategies in Materials and Energy - CITIC Securities outlines three investment themes in the materials sector, focusing on policy-driven themes, high certainty growth from industry prosperity, and innovation in products and technologies [9] - The same report suggests that the second half of 2025 will see a complex price trend in commodities due to U.S. tariff policies, recommending a focus on "hedging" and "supply disruptions" [10] Economic Projections - CITIC Securities anticipates a potential bull market for Chinese equity assets starting in the fourth quarter of 2025, driven by synchronized economic and policy cycles across major economies [11] - The firm also predicts that the economic landscape will exhibit characteristics of strong production, recovering investment, stable consumption, and resilient exports [12]

Core Viewpoint - AIDC capital expenditure is experiencing rapid growth, driven by strong industry demand, with global tech giants expected to invest over 2 trillion RMB by 2025, maintaining a growth rate of over 50% to support generative AI model training, cloud computing expansion, and real-time data processing [1] Group 1: HVDC Demand and Power Supply - Increased power demand is expected to drive HVDC demand, as data centers globally adopt UPS for power assurance, with HVDC offering advantages such as efficiency, reliability, and low cost [1] - The integration of BBU and supercapacitors in power systems is anticipated to enhance power supply safety, especially with the rise in server power requirements [2] Group 2: Energy Quality and Renewable Energy - The demand for power quality equipment is likely to increase due to the growing reliance on renewable energy in data centers, necessitating precise reactive power and harmonic management [3] Group 3: Server Power Supply Market - The value per watt of server power supplies is expected to improve due to increased power density, with potential advancements including the replacement of silicon-based devices with SiC and GaN, and the adoption of liquid cooling methods [4] - The server power supply market is becoming more concentrated, with Taiwanese companies dominating, particularly Delta holding over 50% market share, while mainland firms like Megmeet are beginning to enter the supply chain [4]

Group 1: Financial Performance - In Q1 2025, the company's revenue increased by 13.51% year-on-year, driven by growth in both the data center and new energy sectors [1] - The net profit attributable to shareholders decreased by 10.44% year-on-year due to low gross margins in the new energy sector, impacted by intense competition and lower product prices [1] - Future recovery in gross margins is anticipated with the resurgence of overseas energy storage demand [1] Group 2: Market Outlook - The global renewable energy market is expected to grow, with emerging markets in the Middle East, Southeast Asia, and Africa showing sustained demand [2] - The previously competitive European market is gradually recovering after inventory depletion [2] - The company maintains an optimistic outlook on the global renewable energy market and is actively expanding new market channel development [2] Group 3: Production and Capacity - The company operates 5 automated production lines for lead-acid batteries, with an annual production capacity of 3 million kVAh to meet current demand [2] - The company offers two sales models for UPS: one with only the UPS head and another bundled with lead-acid batteries, allowing for customization based on customer needs [2] Group 4: Data Center Business - The internet industry's increased investment in data centers is expected to accelerate growth, although project timelines can be lengthy due to various stages of development [2] - The company has seen a year-on-year increase in data center business growth in Q1 and remains optimistic about the overall industry benefiting from AI development in the next three to five years [2] Group 5: Investor Relations - The company conducted the investor relations activity in compliance with information disclosure regulations, ensuring the accuracy and completeness of the information shared [2]

苏州朗威电子机械股份有限公司 首次公开发行股票并在创业板上市招股意向书 创业板投资风险提示 本次发行股票拟在创业板上市,创业板公司具有创新投入大、新旧产业 融合存在不确定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高 等特点,投资者面临较大的市场风险。投资者应充分了解创业板的投资风险 及本公司所披露的风险因素,审慎作出投资决定。 苏州朗威电子机械股份有限公司 (苏州市相城区黄埭镇酒阳工业园住友电装路) 首次公开发行股票并在创业板上市 招股意向书 保荐人(主承销商) 安信证券股份有限公司 Essence Securities Co.,ltd. (广东省深圳市福田区福田街道福华一路 119 号安信金融大厦) 1-1-1 苏州朗威电子机械股份有限公司 首次公开发行股票并在创业板上市招股意向书 声 明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发行 ...

创业板投资风险提示 本次发行股票拟在创业板上市，创业板公司具有创新投入大、新旧产业 融合存在不确定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高 等特点，投资者面临较大的市场风险。投资者应充分了解创业板的投资风险 及本公司所披露的风险因素，审慎作出投资决定。 苏州朗威电子机械股份有限公司 （苏州市相城区黄埭镇潘阳工业园住友电装路） 首次公开发行股票并在创业板上市 招股说明书 （注册稿） 序。本招股说明书不具有据以发行股票的法律效力，仅供预先披露之用。 投资者应当以正式公告的招股说明书作为投资决定的依据。 保荐机构（主承销商） （广东省深圳市福田区福田街道福华一路 119 号安信金融大厦） 苏州朗威电子机械股份有限公司 首次公开发行股票并在创业板上市招股说明书（注册稿） 1-1-1 本公司的发行申请尚需经深圳证券交易所和中国证监会履行相应程 安信证券股份有限公司 Essence Securities Co.,ltd. 安信证券股份有限公司 Essence Securities Co.,ltd. 安信证券股份有限公司 Essence Securities Co.,ltd. 安信证券股份有限公司 Essenc ...