Core Viewpoint - The company Lingyi Zhi Zao (002600) has acquired control of Readore (立敏达) for 875 million yuan, enhancing its capabilities in the North American server liquid cooling market [1] Group 1: Acquisition Details - The acquisition was completed in January 2026, with a cash payment of 875 million yuan [1] - Readore has officially become a subsidiary of the company and is included in the consolidated financial statements [1] Group 2: Readore's Business and Market Position - Readore specializes in core thermal management hardware products, including server liquid cooling quick-disconnect connectors, liquid cooling manifolds, and phase change liquid cooling modules [1] - The company has established itself as a key supplier for leading clients in the North American computing power industry, ensuring continuous bulk deliveries [1] Group 3: Strategic Benefits of the Acquisition - The acquisition is expected to facilitate rapid access to technology reserves and customer certification qualifications in the North American server liquid cooling business [1] - It aims to reduce development costs and product validation cycles for server power-related products, thereby enriching the company's product matrix in the server segment [1] - The move is anticipated to enhance the scale and profitability of the company's AI hardware server segment [1]

证券日报网讯2月25日，领益智造（002600）在互动平台回答投资者提问时表示，公司已于2026年1月以 8.75亿元现金收购结合表决权委托取得了对立敏达的控制权，立敏达已正式成为公司控股子公司并纳入 合并报表范围。立敏达主营业务包括服务器液冷快拆连接器(UQD)、液冷歧管(Manifold)、单相液冷散 热模组(服务器液冷板LiquidCoolingPlate及光模块冷板)、相变液冷散热模组、服务器均热板(VC和 3DVC)等热管理核心硬件产品，以及母线排(Busbar)、服务器机架等，立敏达已经成为北美算力行业头 部客户的核心供应商(RVL/AVL)并持续批量交付。本次收购事项有利于促进公司快速获得北美算力行业 头部客户服务器液冷散热业务的技术储备与客户认证资质，降低服务器电源相关产品的开发成本和产品 验证周期，丰富公司服务器板块的产品矩阵，提升公司AI硬件服务器板块的业务规模和盈利能力。 ...

Suspension and Resumption - Duku Culture, Aolian Electronics, and Yichang Technology are planning a change in control, leading to stock suspension [1] - Xusheng Group's actual controller has changed to the Guangzhou Municipal Government, resulting in stock resumption [2] Share Buyback - Nanshan Aluminum plans to repurchase shares worth between 300 million to 600 million yuan for cancellation [3] Mergers and Acquisitions - China Nonferrous Metal Industry's subsidiary intends to acquire 99.9% of Raura Company for 106 million USD, with Raura's main assets being the Raura zinc polymetallic mine and a hydropower station in Peru [4] - Lingyi Technology plans to acquire 35% of Limin Da for 875 million yuan, focusing on advanced thermal management solutions for enterprise-level servers [4] External Investment and Daily Operations - Ultrasonic Electronics plans to invest 1 billion yuan in upgrading high-performance HDI printed circuit board production [5] - Nanya New Materials aims to raise no more than 900 million yuan for AI-powered high-frequency copper-clad laminate R&D and industrialization projects [6] - Lingyun Optical's subsidiary intends to act as a cornerstone investor in the IPO of Zhipu on the Hong Kong Stock Exchange [7] - Tongyu Communication's subsidiary plans to increase capital and introduce investors to enhance its satellite communication product development and operational funding [7] - Sanli Pharmaceutical intends to acquire the HXW2324 compound and related patents from Hainan University for developing new Alzheimer's treatment candidates [7] - Yongding Co., Ltd.'s optical chip subsidiary plans to increase capital and introduce external investors such as Cambridge Technology [8] - Xiangyu Medical's brain-computer interface products have entered over 500 top-tier hospitals, with a target of over 700 by the upcoming Spring Festival [9] - Dingyang Technology has released a 20 GHz high-bandwidth digital oscilloscope, the SDS8204A [10] - Suzhou Tianmai plans to establish a joint venture for server liquid cooling business [11] - Zhuoran Co., Ltd.'s subsidiary signed a supplementary agreement for a 4.033 billion yuan contract related to a biodegradable polyester project [11] - Ningbo Huaxiang's subsidiary signed a strategic cooperation agreement with Dahuang Robot for the development of specific six-degree-of-freedom dexterous hand products [12] - China Merchants Energy has delivered the world's first methanol dual-fuel VLCC oil tanker "Kaituo" in Dalian [13] - Xin Nuo Wei is establishing a joint venture focused on GLP-1 target-related products [14] - New Construction Co., Ltd. signed a framework cooperation agreement for an integrated energy security project at the Duolong Copper Mine in Tibet [15] - Xiechuang Data signed a strategic cooperation agreement with Puyin Financial Leasing, aiming for a cooperation scale of 2 billion yuan in computing power financing leasing [15] Performance Changes - Sanhua Intelligent Control expects a net profit of 3.874 billion to 4.649 billion yuan for 2025, representing a year-on-year growth of 25% to 50%, driven by its leading position in refrigeration and air conditioning components and expansion in the automotive parts sector [16]

Group 1 - The core point of the article is that Lingyi Zhizao has signed a share transfer agreement to acquire 35% equity in Liminda for 875 million yuan, gaining control over 52.78% of the voting rights in the target company [1][2] - Liminda specializes in thermal management solutions for enterprise-level servers, offering products such as liquid cooling quick-disconnect connectors, manifolds, and cooling modules, and has established long-term relationships with major clients in the overseas computing industry [1][3] - The acquisition is expected to enhance Lingyi Zhizao's capabilities in the server liquid cooling business, reduce development costs, and shorten product validation cycles, thereby expanding its product matrix and improving profitability in the AI hardware server segment [3] Group 2 - The payment for the acquisition will be made in two phases, with the first phase covering 51% of the total price and the second phase covering the remaining 49%, both adjusted for applicable personal income taxes [2] - A voting rights entrustment agreement will be signed simultaneously, allowing Lingyi Zhizao to exercise the voting rights of an additional 17.78% equity held by Zhang Qiang after the completion of the share transfer [2]

Group 1 - The core point of the article is that Lingyi Zhizao (002600.SZ) has signed a share transfer agreement to acquire a 35% stake in Liminda for 875 million yuan, aiming to enhance its AI hardware server business and overall competitiveness in the enterprise server sector [1] - The acquisition will allow the company to control 52.78% of Liminda's voting rights, thereby gaining control over the company [1] - Following the completion of the transaction, Liminda will be included in the company's consolidated financial statements, in accordance with relevant accounting standards [1] Group 2 - Liminda has a strong technical foundation and extensive industry experience in the field of thermal management for enterprise servers, with core products including liquid cooling connectors, manifolds, and cooling modules [2] - The agreement will enable the company to quickly acquire technical reserves and customer certifications for liquid cooling thermal management business, reducing development costs and product validation cycles [2] - The strategic synergy between Liminda and the company's existing server business will enhance the product matrix and improve the business scale and profitability of the AI hardware server segment [2]