Robotics - Lingyi Zhi Zao has signed strategic cooperation agreements with several leading embodied intelligence companies to promote the hardware manufacturing of embodied robots [1] - Luxshare Precision is expected to ship 3,000 humanoid robots this year [1] Batteries - Tiannai Technology claims that single-wall products are the best choice for fast-charging batteries, with fourth-generation and pure single-wall products significantly enhancing battery rate and cycle life [1] - Ninebot reports that fluctuations in lithium carbonate prices have not directly impacted product pricing; the company has preemptively stocked multiple new electric bicycle products that meet new national standards [1] Chips - Xidi Micro has successfully integrated its high-performance power management chip products into the Meta supply chain through ODM manufacturers [1] - Silan Micro has launched four key analog chips for AI computing power [1] Electronics - BOE Technology Group indicates that the overall supply and demand in the industry is under pressure, with a forecasted decline in the shipment volume of foldable products in the second half of the year [1] - Luxshare Precision anticipates mass production of microchannel technology next year [1] - Zhihui Power, as a first-tier supplier to Google, provides mobile-related components through Foxconn and Taiwan's Compal [1] Others - Jinli Permanent Magnet holds indirect shares in Muxi Co., Ltd [1] - Chunhui Zhikong has begun bulk supply of satellite release devices to satellite manufacturers [1] - Nandu Property holds indirect shares in Yundongchu through the Saizhi Zhudragon Fund [1] - Chuangyuan Technology's subsidiary Suzhou Bearing supplies mainly needle bearing products for the commercial aerospace sector, although the supply volume is relatively small [1] - Shengyuan Environmental Protection has indirectly participated in investment in Moore Threads by subscribing to fund shares [1] - Shengyang Co., Ltd has launched full immersion liquid cooling energy storage systems and solutions into the market [1] - Weichai Power does not have a gas turbine business [1]

Core Viewpoint - Lixun Precision (002475) is strategically shifting its focus from traditional fan cooling to advanced liquid cooling technologies, aligning its product offerings with the growing demands of AI applications [1] Group 1: Product Development - Lixun Precision has formed a comprehensive product "family" for thermal management through acquisitions and the establishment of a top-tier R&D team [1] - The company is transitioning from fan cooling to liquid cooling solutions, which include cold plate cooling, two-phase cooling, spray cooling, and immersion cooling [1] - The microchannel technology, which was laid out two years ago, is expected to enter mass production next year [1] Group 2: Research and Innovation - The diamond copper project, a leading industry research initiative, demonstrates superior thermal conductivity compared to standard copper and has a thermal expansion coefficient that matches silicon, significantly reducing thermal resistance [1] - The R&D team's simulation capabilities are industry-leading, with actual measurements differing from simulations by only ±1 degree [1]

Summary of Key Points from the Conference Call Industry and Company Overview - The conference call primarily discusses **Huawei** and its developments in the **data center** and **high-performance computing** sectors, particularly focusing on the **384 node system** and advancements in **liquid cooling** and **high voltage direct current (HVDC)** technologies. Core Insights and Arguments - **384 Node System**: The 384 node system is considered a transitional product with performance improvements over the 920B model, but still lacking in certain precision operations. Future products like the 950 and 960 are expected to enhance performance further [1][3][5] - **HVDC Adoption**: Huawei plans to adopt **800V or higher HVDC** systems to improve power supply efficiency and reduce energy consumption. A mixed mode of AC to DC UPS and HVDC is anticipated to be implemented by 2025-2026 [1][4][10] - **Liquid Cooling Technology**: Liquid cooling has become a standard configuration, with the 920C model reaching a maximum power of **600W**, while the upcoming 950 and 960 models are expected to reach **1,000W** and **1,200W** respectively. Liquid cooling is deemed necessary for high power density applications despite its higher cost compared to air cooling [1][11][14] - **Cost Analysis**: The cost of a liquid cooling system is approximately **20,000 yuan per square meter**, with a total cabinet cost around **120,000 yuan**. In contrast, air cooling systems cost between **15,000 to 20,000 yuan per square meter**, totaling around **80,000 yuan** for a cabinet [14][15] - **Market Projections**: Expected shipments for the 920C model in 2025 are around **300,000 units**, while the 920B is projected at **600,000 units**. The 950 model is set to launch in Q1 2026, but with lower yield rates [3][24][25] Additional Important Insights - **Partnerships**: Huawei's SVDC project collaborates with partners like **Kehua** and **Bank of China** to advance project development [7] - **UPS Systems**: The company utilizes both international brands like **Schneider**, **ABB**, and **Vertiv**, as well as domestic brands like **Kehua** in its UPS solutions, aiming for localization [8] - **Microchannel Technology**: This technology is being explored for high heat dissipation needs, particularly in the 950 series chips, although it currently has high material costs [20][22] - **Future Trends**: The data center industry is expected to gradually transition to liquid cooling systems, especially as power demands increase beyond **30 kW** per cabinet [28][29] - **Reliability Measures**: The 2N configuration in data center power systems ensures high reliability, with a design that allows for 99.9% uptime even in dual power failure scenarios [30][31] This summary encapsulates the key points discussed in the conference call, highlighting Huawei's strategic direction in the data center and cooling technology sectors.