Core Viewpoint - The organic silicon materials industry is entering a new growth cycle driven by the digital economy and "dual carbon" strategy, with Runhe Materials (300727) making significant advancements in liquid cooling technology and expanding its overseas market presence [1][9]. Group 1: Liquid Cooling Technology - Runhe Materials has achieved mass production in the immersion liquid cooling sector, with a customized three-in-one solution receiving positive market feedback and multiple customer pilot collaborations [1][2]. - The company's liquid cooling technology has demonstrated superior performance in viscosity, heat dissipation efficiency, stability, insulation, and compatibility under low-temperature conditions, making it suitable for energy storage and data center applications [2][3]. - The immersion cooling method significantly reduces energy consumption by 90%-95% compared to traditional air cooling systems, while also minimizing space requirements [3]. Group 2: Product Development and Innovation - Runhe Materials has introduced several ultra-low viscosity cooling liquids suitable for data centers, energy storage, electric vehicles, and base stations, with temperature ranges from -78°C to 200°C [5]. - The company has a strong patent portfolio with 75 patents, of which nearly 80% are invention patents, supporting its research and development capabilities [2][6]. - The ultra-low viscosity cooling liquids are competitively priced at a fraction of the cost of fluorinated liquids, while meeting national safety standards for non-flammability and non-explosiveness [6]. Group 3: Overseas Market Expansion - Runhe Materials has shown resilience in expanding its overseas business, achieving sales of 383 million yuan in 2024, accounting for 28.87% of total revenue, with a focus on localizing services to enhance customer loyalty [8]. - The company has strategically avoided significant exposure to international trade friction by limiting its revenue from the U.S. market to 1.14% [8]. Group 4: Financial Performance - In 2024, Runhe Materials reported a revenue of 1.327 billion yuan, a year-on-year increase of 16.96%, and a net profit of 96.24 million yuan, reflecting a growth of 17.06% [9]. - The company aims to balance capacity expansion with shareholder returns, emphasizing the importance of enhancing market competitiveness and efficient use of raised funds [9].