Core Viewpoint - The article emphasizes investment opportunities in the AI-driven growth of the equipment manufacturing industry, particularly in AI edge applications and computing infrastructure [1][2]. Group 1: AI Edge Applications - The AI edge sector is expected to see rapid growth, including humanoid robots, smart manufacturing with AI (mobile robots, collaborative robots), and various consumer AI products (e.g., AI smartphones, AI glasses, AI rings) [1]. - This growth will lead to a new cycle of demand for 3C devices and subsequently a new investment cycle in semiconductor equipment due to increased needs for training, inference, and storage chips [1]. Group 2: Computing Infrastructure - Investment in computing infrastructure is crucial for the implementation of AI edge applications. The article predicts rapid growth in AIDC investments, particularly in primary and secondary cooling solutions, recommending investments in chillers and core components like refrigeration compressors and water pumps [1]. - The article also highlights investment opportunities in energy solutions benefiting from power shortages, such as gas-fired power generation combined with heat recovery steam generators (HRSG) and solar-storage systems [1]. Group 3: Export Recovery in Machinery Manufacturing - The article identifies three main drivers for the expected recovery of machinery manufacturing exports by 2026: 1. A recovery in overseas demand due to the anticipated interest rate cuts by the Federal Reserve, which will boost global industrial product demand, particularly in categories related to real estate [2]. 2. Strong infrastructure demand in countries along the "Belt and Road" initiative, with significant growth in the Middle East's natural gas extraction sector, leading to increased exports of domestic oil service equipment [2]. 3. The demand for AI computing power is creating a gap in electricity supply, driving growth in gas turbines and diesel generator sets, as well as increased demand for drilling equipment and materials used in PCB production [2].

格隆汇12月29日丨汉钟精机(002158.SZ)在互动平台表示，公司主营产品有制冷压缩机，空气压缩机和 真空泵，其中永磁螺杆制冷压缩机及磁悬浮离心制冷压缩机已在数据中心液冷领域使用。 ...

Core Viewpoint - The article emphasizes the importance of timely and professional information interpretation in the investment landscape, particularly focusing on significant events, industry chain companies, and key policy insights [1] Group 1: Company Insights - The company has launched a full range of refrigeration compressors and has deep collaborations with enterprises in the NVIDIA supply chain [1] - The company’s semiconductor vacuum pumps have been introduced to the market, indicating a strong product offering in this sector [1] - In the photovoltaic vacuum product field, the company serves major clients including Longi and Tongwei, showcasing its position among leading manufacturers [1]

编号：2025-12-001 | 投资者关系 | □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 | | --- | --- | | 活动类别 | □新闻发布会 □路演活动 ☑现场参观 ☑其他：线上、策略会 | | 活动参与人员 | Oberweis、西部证券、华福证券、淳厚基金、鹏华基金、合远基金、域秀资本、 | | | 建信基金、兴业证券、国投瑞银、东吴证券 | | 时间 | 2025 年 12 月 2 日—12 月 12 日 | | 地点 | 公司、策略会现场 | | 上市公司接待人员 | 董事会秘书、证券事务代表、投资者关系员 | | | 一、基本情况介绍 | | | 2025 年三季报情况介绍 | | | 2025 年前三季度营业收入 22.65 亿元，同比下降 20.70%，实现净利润 3.92 亿元， | | | 同比下降 45.69%，基本每股收益 0.7327 元，同比下降 45.69%，加权平均净资产 | | | 收益率 9.16%，同比下降 9.20%。 | | | 二、产品情况 | | | 公司的主营业务聚焦于压缩机（组）和真空泵两大核心板块，其中压缩机（组） | | | 板块 ...

AIDC 压缩机行业近况更新及汉钟精机、冰轮环境深度汇报 20251208 摘要 冰轮环境通过合资并购等方式拓展业务，如收购东汉布什和华源泰盟， 分别进入中央空调和工业余热利用领域，显示出战略的前瞻性和持续性。 冰轮环境积极推进国际化，在全球多地设有销售网络，海外收入占比超 过 40%，且毛利率显著高于国内，未来海外收入增长将显著改善公司盈 利能力。 冰轮环境在数据中心领域，变频离心式冷水机组等产品已入选工信部名 录，并与超算中心、运营商等深度合作，积累了丰富的国内外项目经验。 冰轮环境作为混合所有制企业，成功融合国资与市场机制优势，抓住冷 链、农化和 AIDC 等市场机会，2021 年至 2023 上半年收入和利润实现 翻倍增长。 冰轮环境在核电领域已服务多个核电站，并研发创新技术，尽管短期核 电装机进度稍慢，但预计未来将加速发展，冷链装备订单环比改善，呈 现企稳趋势。 Q&A 请介绍一下冰轮环境的历史发展及其战略方向。 冰轮环境公司成立已有 70 年，作为冷热系统解决方案的龙头企业，其发展历 程和战略方向非常清晰。公司从核心零部件压缩机起步，通过自主研发、联合 研发、上市、并购和国际化等多种方式，不断拓展 ...

格隆汇11月27日丨汉钟精机(002158.SZ)在投资者互动平台表示，公司制冷压缩机已用于数据中心，核 心作用为提供稳定的冷源支持，已在多家客户成功应用，公司对数据中心市场的广阔发展前景充满信 心。 ...

格隆汇11月27日丨汉钟精机(002158.SZ)在投资者互动平台表示，公司制冷压缩机已用于数据中心，核 心作用为提供稳定的冷源支持，已在多家客户成功应用，公司对数据中心市场的广阔发展前景充满信 心。 ...

Group 1: Financial Performance - In the first three quarters of 2025, the company reported a revenue of 2.265 billion CNY, a year-on-year decrease of 20.70% [2] - The net profit for the same period was 392 million CNY, reflecting a year-on-year decline of 45.69% [2] - Basic earnings per share stood at 0.7327 CNY, also down by 45.69% compared to the previous year [2] - The weighted average return on net assets was 9.16%, a decrease of 9.20% year-on-year [2] Group 2: Product Overview Refrigeration Products - The company offers a diverse range of refrigeration products, including commercial central air conditioning compressors, refrigeration compressors, and heat pump compressors [2] - These products are widely used in commercial buildings, food cold chain logistics, and heating applications, catering to various customer needs [2] - The company has seen growth in screw and magnetic levitation centrifugal compressors used in data center cooling during the first half of the year [2] - Taiwan Dongyuan is a key partner and customer for the company's refrigeration compressors, maintaining stable business relations [2] Air Compression Products - The company's air compressors serve as essential power sources in engineering machinery and various downstream sectors, including pharmaceuticals, chemicals, and electronics [3] - The company is expanding into oil-free air compressor markets, focusing on applications in industries requiring high air quality, such as food and biomedicine [3] Vacuum Products - The company's vacuum products are primarily used in the photovoltaic and semiconductor industries, with plans to expand into lithium batteries, pharmaceuticals, and other sectors [3] - Some domestic chip manufacturers have recognized the company's vacuum products, leading to small-scale supply agreements [3] Group 3: Other Information - The company experienced growth in contract liabilities in the first three quarters, mainly due to an increase in advance payments for new orders [3] - During the investor relations activity, the company did not disclose any significant undisclosed information [3]

Core Viewpoint - The company, Ice Wheel Environment (000811.SZ), is actively involved in the green methanol sector, providing essential products such as refrigeration compressors and cooling towers for projects in this field [1] Group 1: Company Products and Services - The company offers refrigeration compressor sets and cooling towers specifically for the green methanol industry [1] - The low-temperature methanol washing process in the first large-scale green methanol project in China, located in TaoNan City, is supported by the company's refrigeration compressors and condensation units [1]

Core Viewpoint - The company, Ice Wheel Environment (000811.SZ), is actively involved in the green methanol sector, providing essential products such as refrigeration compressors and cooling towers for projects in this field [1]. Group 1 - The company offers refrigeration compressors and cooling towers for the green methanol industry [1]. - The first large-scale green methanol project in the country, launched in July, utilizes the company's refrigeration compressors and condensation units in its low-temperature methanol washing process [1].