公司主营业务及产品布局 冰轮环境专注于能源和动力领域，提供先进系统解决方案及全生命周期服务，核心产品包括压缩机和换 热装置，可实现-271℃至200℃温度区间的温控、增压等冷热能管理功能，具体涵盖螺杆式、离心式、 活塞式、涡旋式压缩机，以及工业热泵、储能蓄能装置、真空冻干设备等。 从应用领域看，公司产品覆盖商业制冷（食品冷冻冷藏、冷链物流、冰雪场馆等）、工业冷冻（能源化 工工艺冷却、航天风洞等）、商用舒适空调（轨道交通、商业地产等）、工业特种空调（数据中心、核 电站等），以及余热余能利用、气体压缩液化、储能系统、新能源装备等多个场景。2025年前三季度， 公司低温制冷板块营收略有下滑但降幅逐季收敛，特种空调和热管理板块则实现同比增长。 数据中心液冷系统：顿汉布什产品服务国内外大型项目 调研中，机构重点关注了公司在数据中心液冷系统的应用及产能情况。冰轮环境表示，旗下顿汉布什公 司和冰轮换热技术公司为数据中心及液冷系统提供一次侧冷源装备和热交换装置。 顿汉布什拥有131年历史，跻身欧美系暖通空调一线梯队，其"变频离心式冷水机组"（含高压变频和磁 悬浮变频两类）和"集成自然冷却功能的风冷螺杆冷水机组"入选工信部《国 ...

（来源：齐鲁资本通） 12月8日，冰轮环境（000811）再度涨停，收获2连板。从前复权走势来看，公司股价就此创下历史新 高。 接下来的问题是，公司股价是否就此打开了上涨空间？这就要从本次股价走强说起了。 01 2连板可能的3个原因 02 多项业务前景值得期待 冰轮环境的主要产品形式为压缩机和换热装置，实施温控、增压等冷热能管理功能。 截至12月8日，冰轮环境股价为16.20元/股，总市值160.78亿元。 前复权走势上，此前最高点出现于2015年，2021年、2023年先后刷新高点，接着到了今年再创新高。 对于此次走强，能够找到的"理由"共有3种。 首先是冰雪经济。上周五（12月5日）冰轮环境涨停后，有媒体报道，随着冬季到来，冰雪经济逐渐升 温，多家相关上市公司积极布局冰雪相关产业，"冷资源"正加速转化为消费与产业"热动能"。在利好消 息刺激下，12月5日，A股冰雪产业板块走高，舒华体育、冰轮环境等概念股涨停。 消息面上，近期，由北京体育大学等机构联合编制的《中国冰雪产业发展研究报告（2025）》披露，预 计2025年我国冰雪产业总规模将突破万亿元大关，达10053亿元。 另一个理由是数据中心。12月4日消 ...

Group 1: Industry Perspective on Institutional Research - The overall number of institutional research engagements in the A-share market decreased last week, likely due to the upcoming long holiday, with a total of 483 engagements, lower than 637 engagements during the same period in 2024 [12][19] - The top five industries by the number of institutional engagements were mechanical equipment, electronics, automobiles, pharmaceutical biology, and electric power equipment [12][19] - In August, the total number of institutional engagements in the A-share market showed a slight recovery but remained below the levels of 2024, with 1,854 engagements compared to 2,050 in 2024 [20][21] Group 2: Individual Stock Perspective on Institutional Research - Ice Wheel Environment, Hu Dian Co., and Hua Xia Eye Hospital received significant market attention, with Ice Wheel Environment being engaged four times last week, benefiting from AI infrastructure trends [25][29] - In the past month, companies such as Huichuan Technology, Ice Wheel Environment, and Lian De Equipment were frequently engaged, indicating strong market interest [30][31] - Ming Tai Aluminum's recent developments in high-end product lines and new energy materials have attracted attention, with two engagements last week [29][30]

Group 1: Business Overview and Product Offerings - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with products including compressors and heat exchangers, covering a temperature range of -271℃ to 200℃ [3] - The product matrix includes various types of compressors such as screw, centrifugal, absorption chillers, and industrial heat pumps, showcasing significant technological advantages and market performance [3] - The company has participated in drafting national standards for centrifugal refrigerant compressors and oil-free suspended centrifugal chillers [3] Group 2: Applications and Market Segments - Products are widely used in sectors such as food processing, cold chain logistics, industrial cooling systems, and special environments like aerospace and mining [3] - The company has successfully served numerous data centers in China and abroad, including major projects like the National Supercomputing Center and various banking data centers [3][4] - The company’s cooling solutions for data centers include advanced technologies recognized in the national green data center product directory [4] Group 3: Industrial Heat Management and Nuclear Power - The company is a pioneer in industrial heat pump technology, focusing on clean, low-carbon energy systems and offering comprehensive heat control solutions [4] - In the nuclear power sector, the company has developed innovative technologies for cooling and heat recovery, supporting the safe and efficient operation of nuclear power plants [4][5] - The company has extensive experience in providing cooling solutions for various nuclear power stations across China [5]

Group 1: Business Overview and Product Offerings - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with key products including compressors and heat exchangers, covering a temperature range of -271℃ to 200℃ [3] - The product matrix includes various types of compressors such as screw, centrifugal, absorption chillers, piston, and industrial heat pumps, showcasing significant technological advantages and market performance [3] - The company has developed a full range of magnetic levitation compressor products, which demonstrated reliability and efficiency during the Beijing Winter Olympics project [3] Group 2: Market Applications and Industry Segments - Products are widely used in sectors such as food processing, cold chain logistics, industrial refrigeration, and special environments like aerospace and mining [3] - The company has successfully served numerous data centers in China, including major clients like the National Supercomputing Center and China Mobile, and has expanded its services to overseas markets in North America, Australia, Southeast Asia, and the Middle East [3][4] - The company’s cooling solutions for data centers include advanced technologies recognized in the national green data center product directory [4] Group 3: Nuclear Power Industry Engagement - The company is actively involved in the nuclear power sector, focusing on core applications such as nuclear island cooling and heat recovery, providing innovative technologies for safe and efficient energy use [4] - It has supplied products to several nuclear power stations in China, enhancing operational safety and efficiency [4] - The company’s subsidiary has developed a unique no-power cooling system for nuclear applications, contributing to the advancement of nuclear energy utilization technologies [4]

Group 1: Business Overview and Product Offerings - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with key products including compressors and heat exchangers, covering a temperature range of -271℃ to 200℃ [3] - The product matrix includes various types of compressors such as screw, centrifugal, absorption chillers, piston, and industrial heat pumps, showcasing significant technological advantages and market performance [3] - The company has developed a full range of magnetic levitation compressor products, which demonstrated reliability and efficiency during the Beijing Winter Olympics project [3] Group 2: Market Applications and Industry Engagement - Products are widely used in sectors such as food processing, cold chain logistics, industrial refrigeration, and special environments like aerospace and mining [3] - The company has participated in drafting national standards for centrifugal refrigerant compressors and oil-free suspended centrifugal chillers [3] - The company’s products are applied in data centers, including liquid cooling systems, with successful projects in various high-profile data centers across China and overseas [3][4] Group 3: Competitive Landscape and International Expansion - The company’s overseas manufacturing base is fully operational, supporting tactical expansion into international markets [4] - Major competitors in the overseas market include leading HVAC manufacturers from Europe and North America [4] - The company plans to launch upgraded products in July 2024 to enhance competitiveness in the data center cooling market [3][4] Group 4: Nuclear Power Industry Engagement - The company is focusing on core scenarios in nuclear power, developing innovative technologies for nuclear island cooling and heat recovery [4] - It has provided services to several nuclear power stations in China, ensuring safe and efficient operation [4] - The company’s subsidiary has extensive experience in nuclear refrigeration, being a key contributor to national standards in the field [4]

Group 1: Business Overview and Product Offerings - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with key products including compressors and heat exchangers, managing temperature control and pressure across a range of -271℃ to 200℃ [3] - The product matrix includes various types of compressors such as screw, centrifugal, absorption chillers, piston, and industrial heat pumps, showcasing significant technological advantages and market performance [3] - The company has developed a full range of magnetic levitation compressor products, which demonstrated reliability and efficiency during the Beijing Winter Olympics project [3] Group 2: Market Applications and Industry Segments - Products are widely used in sectors such as food processing, cold chain logistics, industrial refrigeration, and special environments like aerospace and mining [3] - The company’s offerings also extend to commercial air conditioning for rail transport, commercial real estate, and public venues, as well as industrial special air conditioning for data centers and nuclear power plants [3] Group 3: Data Center and Cooling Solutions - The company’s subsidiaries provide cooling equipment for data centers, including liquid cooling systems, with products recognized in the national green data center technology catalog [3][4] - Successful domestic projects include major data centers for organizations like China Mobile and Bank of Communications, while international collaborations span North America, Australia, Southeast Asia, and the Middle East [3] Group 4: Nuclear Power Industry Engagement - The company is actively involved in the nuclear power sector, focusing on core applications such as nuclear island cooling and heat recovery, with innovative technologies developed for safe and efficient energy use [4] - It has provided services to numerous nuclear power stations across China, leveraging over 20 years of experience in the field [4] Group 5: Competitive Landscape and Future Developments - The overseas market is dominated by leading HVAC manufacturers, with the company expanding its domestic manufacturing capabilities to support international demand [4] - Upcoming product launches include upgraded versions of magnetic levitation and gas suspension series for data centers, enhancing competitive positioning [3][4]

Group 1 - The company held a roadshow on September 10, 2025, with participation from eight institutions including Ping An Fund and Huatai Securities Asset Management, discussing product applications, capacity, and market competition [1] - The company focuses on energy and power sectors, providing advanced system solutions and lifecycle services, with main products including compressors and heat exchangers, covering a temperature range of -271℃ to 200℃ [2] - The company's products are widely used in various industries such as commercial refrigeration, industrial freezing, commercial comfort air conditioning, and industrial special air conditioning [2] Group 2 - In the data center sector, the company’s subsidiaries provide cooling equipment, with products recognized in the national green data center technology directory, and successful projects both domestically and internationally [3] - The company has developed innovative technologies for nuclear power applications, supporting the safe operation and clean energy utilization of nuclear power plants, with a focus on core scenarios like nuclear island cooling [4] - The company’s subsidiary has over 20 years of experience in nuclear power services and has collaborated with Tsinghua University on technology applied in national energy projects [4]

Group 1: Business Overview and Product Offerings - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with products including compressors and heat exchangers, covering a temperature range of -271℃ to 200℃ [3] - A full range of magnetic levitation compressor products has been developed, showcasing significant technical advantages and market performance, particularly highlighted by their success in the Beijing Winter Olympic Village project [3] - Products are widely used across various industries, including food processing, cold chain logistics, industrial refrigeration, and special air conditioning systems [3] Group 2: Data Center Applications and Market Position - The company’s subsidiaries provide cooling equipment for data centers, including liquid cooling systems, with products recognized in the Ministry of Industry and Information Technology's directory of advanced applicable technologies [3][4] - Successful domestic projects include major data centers for national supercomputing and various banks, while international collaborations extend to North America, Australia, Southeast Asia, and the Middle East [3] - Upcoming product launches in July 2024 include upgraded magnetic levitation and air suspension series for data centers, enhancing competitive edge [4] Group 3: Nuclear Power Industry Engagement - The company is actively involved in the nuclear power sector, focusing on core applications such as nuclear island cooling and heat recovery, with innovative technologies developed for safe and efficient energy use [4] - Domestic service includes major nuclear power stations, with a strong track record in providing comprehensive cooling solutions [4] - The company is a key player in drafting national standards for refrigeration equipment in nuclear applications, with extensive experience and a wide range of products [4]

Group 1: Business Overview and Product Offerings - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with products including compressors and heat exchangers, covering a temperature range of -271℃ to 200℃ [3] - The product matrix includes various types of compressors such as screw, centrifugal, absorption chillers, piston, and industrial heat pumps, showcasing significant technological advantages and market performance [3] - The company has developed a full range of magnetic levitation compressor products, which demonstrated reliability and efficiency during the Beijing Winter Olympics project [3] Group 2: Market Applications and Client Industries - Products are widely used in food and agricultural product freezing, cold chain logistics, industrial cooling systems, and special environments in energy and chemical production [3] - The company serves various sectors including rail transportation, commercial real estate, public venues, and data centers, with applications in energy recovery and clean emissions [3] - The company has successfully collaborated with numerous domestic and international data centers, enhancing its market presence in North America, Australia, Southeast Asia, and the Middle East [3][4] Group 3: Innovations and Technological Developments - The company is a pioneer in industrial heat management, focusing on clean, low-carbon, safe, and efficient energy systems, and has launched comprehensive solutions for industrial heat control [4] - Recent innovations include technologies for nuclear power applications, such as cooling systems and heat recovery solutions, supporting the safe and efficient use of nuclear energy [4][5] - The company has established a strong presence in the nuclear power sector, providing services to multiple nuclear power stations across China [4][5] Group 4: Competitive Landscape and Market Position - The company faces competition from leading HVAC manufacturers in the overseas market, including Carrier, York, and Trane [4] - The company is enhancing its competitiveness with new product launches, including upgraded versions of its magnetic levitation and air suspension series for data centers [3][4] - The company is strategically expanding its manufacturing capabilities to support overseas markets while maintaining a robust domestic production base [4]