据悉，标的公司拥有散热领域经验丰富的研发团队，致力于电子散热产品的研制。主要产品有水冷板、 浸没式散热模组、水冷散热模组、PC散热模组、铲齿散热器、摩擦焊冷板、热管导热散热模组、冷凝 散热器、VC散热等。产品广泛应用于AI服务器、显卡(GPU)、超算中心、数据中心、云计算、航天航 空、算力电子、储能、新能源、激光等领域。标的公司拥有完整热管理的研发设计及生产工艺流程，如 钎焊(真空、隧道、高频、火焰等)与摩擦焊、氩弧焊、激光焊等焊接工艺，同时具备模具开发、CNC、 数控车、铲齿、数控弯管、压管到表面处理等能力。 奕东电子（301123）(301123.SZ)公告，公司拟6120万元用于对深圳市冠鼎金属科技有限公司("深圳冠 鼎")进行投资，最终取得深圳冠鼎51.00%股权。子公司东莞市可俐星电子有限公司(简称"可俐星")增资 222.2222万元，由深圳冠鼎的原实际控制人或其指定的第三方出资3000万元认购。深圳冠鼎是一家专注 AI算力液冷散热产品结构综合解决方案商，已经成为液冷散热领域头部客户的核心供应商。 公告称，公司通过本次并购液冷技术领域具备核心研发能力的企业，获得成熟的液冷产品技术及专利储 备，与公 ...

公司本次购买目标公司股权有助于拓展该领域的客户资源，借助目标公司完整的产品研发和生产工艺能 力，丰富公司液冷散热产品组合，快速切入核心应用场景，发挥产业协同效应，进一步提升公司在该领 域供应链的参与深度，构建公司在全球竞争新格局中的核心竞争力。公司通过本次并购液冷技术领域具 备核心研发能力的企业，获得成熟的液冷产品技术及专利储备，与公司现有技术研发及工程工艺体系相 整合，可减少自主研发周期，快速抢占液冷技术制高点，适配算力设备、AI终端的高功率散热需求， 打造公司AI算力液冷散热系统一体化解决方案的能力。实现公司"连接器+液冷"、"精密电子+液冷"的战 略跨越，构建公司在AI算力时代新的业务增长点。 标的公司拥有完整热管理的研发设计及生产工艺流程，如钎焊（真空、隧道、高频、火焰等）与摩擦 焊、氩弧焊、激光焊等焊接工艺，同时具备模具开发、CNC、数控车、铲齿、数控弯管、压管到表面 处理等能力。凭借深厚的研发能力及精湛的生产工艺，可为客户提供从散热解决方案设计到散热产品供 应的全流程服务。随着全球算力中心和AI人工智能等相关行业的迅猛发展，目标公司持续进入行业知 名客户的供应链，从相关客户获取的订单量实现快速增长 ...

证券日报网讯超频三（300647）11月20日在互动平台回答投资者提问时表示，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。基于散热领域电子电器类产品的共性需 求，公司散热领域业务具备较强的拓展性。未来公司将持续聚焦散热业务，保持在电子产品散热器件等 领域的固有优势，挖掘散热领域市场机会，结合市场需求和战略规划进行合理产业布局。 ...

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]

Core Viewpoint - Feirongda (300602.SZ) has technological reserves in micro-channel liquid cooling plates and is actively developing various cooling products for servers and terminal devices [1] Group 1: Technology and Product Development - The company is engaged in the research and development of thermal management products, including thermal conductive materials, various cooling modules, fans, 3D VC coolers, special coolers, single-phase liquid cooling plate modules, and two-phase liquid cooling plate modules [1] - Some of the company's products have already been delivered in bulk, indicating a level of market readiness and operational capability [1] Group 2: Market Position and Future Outlook - The company will continue to monitor developments in related technology fields to enhance its comprehensive competitive advantage [1]

Core Viewpoint - The company, Chao Ping San (300647), is actively engaging with investors regarding its current product offerings and pricing strategies in the PC cooling business [1] Group 1: Product Offerings - The company's main products in the PC cooling sector include consumer electronic cooling products such as water cooling and air cooling heat sinks [1] - Additionally, the company offers complete computer systems and related peripherals, including computer cases, power supplies, and fans [1] Group 2: Pricing Strategy - The company plans to adjust product sales prices flexibly based on product value, brand positioning, market competition, and its own circumstances [1]

Group 1 - The company, 超频三, confirmed its involvement in the development of cooling products, including water cooling and air cooling solutions primarily for CPU and other internal heat sources [2][3] - The company provides detailed information about its products through its official website, public account, and flagship store [2]

Group 1 - The company, Zhongshi Technology, confirmed that its flexible graphite products can be applied in foldable smartphones [2] - The company has developed a globally patented foldable flexible graphite heat dissipation component, indicating a strong innovation capability [2] - Flexible graphite has higher value and demands more advanced R&D and production processes compared to conventional graphite, showcasing the company's technological leadership in this field [2]