Summary of the Conference Call for 德昌电机控股 Industry Overview - The liquid cooling pump system market is projected to reach several hundred billion RMB by 2030, driven by the increasing demand for computing power in data centers, particularly in the AI computing module sector [2][3] - The liquid cooling pump system for servers has higher reliability and power requirements compared to automotive electronic water pumps, with a mean time between failures (MTBF) of over 50,000 hours [2][4] Company Insights - 德昌电机控股 has a competitive advantage in the liquid cooling pump business due to its strong motor capabilities and excellent cost control in secondary component manufacturing [2][5] - The company has established partnerships with leading domestic server manufacturers, indicating potential for significant revenue and profit generation [5] - In the humanoid robot sector, 德昌电机控股 focuses on manufacturing components such as actuators and dexterous hands, leveraging joint ventures to enhance secondary component manufacturing capabilities [2][6] Financial Projections - For the fiscal year 262,728 (corresponding to Q2 2025 to Q1 2026 and the following two years), net profits are expected to be $280 million, $320 million, and $360 million respectively [4][7] - The current market valuation corresponds to an estimated price-to-earnings (PE) ratio of approximately 11 times for the year 2025 [4][7] Risks and Considerations - Key risks include the development progress in humanoid robotics and liquid cooling systems, global passenger vehicle demand, and fluctuations in raw material prices, which could impact the company's performance [4][7]