Core Viewpoint - The acquisition of PMG International Co., LTD. by Lens Technology is seen as a strategic move to enhance its position in the AI computing power sector, particularly by gaining access to NVIDIA's supply chain through its subsidiary, Yuan Shi Technology [1][2]. Group 1: Acquisition Details - Lens Technology plans to acquire 100% of PMG International, which will allow it to obtain 95.1% of Yuan Shi Technology [1]. - Yuan Shi Technology is one of the few companies in China holding NVIDIA's RVL certification, which is crucial for entering the AI server hardware market [2]. - The RVL certification is considered a "golden ticket" in the AI server hardware field, indicating high reliability and integration capabilities [2]. Group 2: Technological Advantages - Yuan Shi Technology has already provided core components for NVIDIA's GB200/GB300 series, demonstrating its readiness for mass production [2]. - The company has developed an integrated solution that enhances server deployment efficiency by 4.1 times and significantly reduces the Power Usage Effectiveness (PUE) of data centers [2]. Group 3: Market Positioning - Yuan Shi Technology has joined NVIDIA's Vera Rubin development team, focusing on the next-generation server platform, which is expected to significantly increase computing power and cabinet value [3]. - The acquisition is expected to complement Lens Technology's existing precision component business, enhancing its capabilities in AI-related fields [4]. Group 4: Market Trends - The global demand for AI computing power is projected to grow exponentially, with predictions indicating that AI computing demand could reach 200 gigawatts by 2030 [5]. - The AI server market is expected to reach $298 billion by 2025, accounting for over 70% of the total server market value [5]. - Liquid cooling technology is anticipated to replace traditional air cooling due to its efficiency, with the Chinese liquid cooling server market expected to reach $3.39 billion by 2025, growing at a rate of 42.6% [5]. Group 5: Strategic Vision - Lens Technology has recognized the trend towards AI computing infrastructure and has been proactive in its strategy to develop AI server solutions, particularly in liquid cooling [6]. - The company aims to leverage its acquisition to enhance its market share in AI server cabinets and efficient liquid cooling systems, positioning itself as a leader in AI hardware [7].

Core Viewpoint - The article discusses whether the current liquid cooling concept stocks are a bubble or the beginning of long-term strategic investments, and it explores the potential market size for liquid cooling in the coming year [1][3][13]. Company Developments - Lens Technology (蓝思科技) announced plans to acquire 100% of PMG International Co., LTD, aiming to quickly gain mature technology and customer certifications in the server cabinet business, along with advanced liquid cooling system integration capabilities [2][4]. - Other companies such as Zhongshi Technology (中石科技), Yidong Electronics (奕东电子), and Chunqiu Electronics (春秋电子) have also made moves to enter the liquid cooling sector, indicating a trend of capital influx into this market [2][8]. Market Performance - The liquid cooling server index has seen a significant increase of 49.66% year-to-date, with several component stocks doubling in price [2][12]. - Notable stock performances include Siquan New Materials (思泉新材) with a 286.21% increase, Yinvike (英维克) at 155.36%, and Kexin New Source (科创新源) at 123.97% [12]. Market Potential - The liquid cooling market is projected to exceed 100 billion yuan, with specific components like cold plates estimated to have a market size of around 30 to 40 billion yuan [13]. - Analysts predict that by 2026, the liquid cooling market for computing power will surpass 100 billion yuan, driven by the increasing demand for high-density computing and the limitations of traditional air cooling [14].

Core Viewpoint - The acquisition of PMG International Co., LTD. by Lens Technology aims to enhance its capabilities in the liquid cooling sector, which is gaining traction in the AI server market, reflecting a strategic move to secure advanced technology and customer certifications [2][4]. Company Developments - Lens Technology plans to acquire 100% of PMG International Co., LTD. to quickly gain access to mature technology and customer certifications in the server cabinet business, as well as advanced liquid cooling system integration capabilities [2][4]. - The company has been actively recruiting key technical positions to focus on liquid cooling and AI server cabinets, indicating a strong commitment to this market segment [3]. - The acquisition is expected to significantly enhance Lens Technology's core competitiveness in AI computing hardware solutions, leveraging its existing manufacturing capabilities [5]. Industry Trends - The liquid cooling sector has seen increased interest from various companies, including Zhongshi Technology, Yidong Electronics, and Chunqiu Electronics, all of which are making moves to establish a presence in this field [6][8]. - The liquid cooling technology is recognized as essential for addressing the heat dissipation challenges in data centers, with advantages over traditional air cooling methods [6][9]. - The liquid cooling server index has risen by 49.66% this year, with several stocks doubling in value, indicating strong market interest and investment potential [9]. Market Potential - The liquid cooling market is projected to exceed 100 billion yuan, with significant growth expected in the coming years, particularly in the AI data center segment [9][10]. - By 2026, the liquid cooling market for ASIC systems is expected to reach 35.3 billion yuan, while NVIDIA's liquid cooling systems could reach 69.7 billion yuan, highlighting the substantial market opportunity [9][10]. - The penetration rate of liquid cooling in AI data centers is anticipated to reach 40% by 2025, marking a critical turning point for infrastructure technology [10].

Core Viewpoint - Lens Technology plans to strategically acquire 100% equity of PMG International Co., LTD, thereby obtaining 95.11645% equity of Yuan Shi Technology (Zhejiang) Co., Ltd, to enhance its capabilities in the server cabinet business and liquid cooling systems [1] Group 1: Acquisition Details - The acquisition will provide Lens Technology with mature technology and customer certifications for specific domestic and international server cabinet businesses, including racks, slides, trays, busbars, and other components [1] - The company aims to support a trillion-level demand by establishing AI servers as a key strategic track [1] Group 2: Business Expansion - Lens Technology has already achieved mass production of server chassis structural components and is rapidly expanding into liquid cooling modules and solid-state drive (SSD) assembly [1]