格隆汇12月31日丨飞荣达(300602.SZ)在投资者互动平台表示，公司AI服务器散热相关业务与部分重要 客户的合作有序推进中，同时，公司一直关注市场变化并且与客户保持密切的沟通与合作，持续对液冷 相关产品的研发及技术创新，通过加大在前沿领域研发投入与市场渗透，不断探索和深化液冷技术在各 个领域的应用，以推动公司产业进步和满足市场需求。 ...

格隆汇12月23日丨金田股份(601609.SH)在投资者互动平台表示，为进一步深化公司在高附加值产品的 战略布局，提升公司产品在算力、新能源汽车、机器人、空调等行业液冷散热场景的应用，为下游客户 提供精密制造及综合解决方案，公司计划在广东省四会市设立液冷科技公司。目前液冷板块市场空间及 行业增速较快，加工费及毛利率水平较高，有望成为公司十五五期间业绩增长的重点板块。公司计划借 助广东基地的生产技术与能力，实现液冷相关业务专业化及高速发展。截止2025年11月，公司芯片半导 体领域铜材销量近4万吨，其中算力散热领域近1.4万吨，同比增速近60%。 ...

证券日报网12月18日讯 创世纪（300083）在12月17日回答调研者提问时表示，液冷领域正处于高速发 展阶段，公司预测明后年出货量有望实现持续快速增长。公司液冷相关产品凭借先进的技术工艺与高性 价比优势，均价较传统钻攻机、立加等产品显著提升。与进口产品相比，公司产品在性能相当的前提下 具备显著价格优势，能够为客户降低采购成本，因此市场认可度极高，成功实现进口五轴设备替代，成 为公司业绩增长的支撑。 ...

Group 1 - The core viewpoint of the article indicates that Zhongjie Automobile's liquid cooling products currently contribute a low proportion of revenue, resulting in a minimal impact on the company's overall performance [1]

Core Insights - The company reported Q3 2025 revenue of 7.994 billion yuan, a year-on-year increase of 12.11% and a quarter-on-quarter increase of 11.53% [1] - The net profit attributable to shareholders for Q3 2025 was 672 million yuan, a year-on-year decrease of 13.65% [1] - The basic earnings per share (EPS) for Q3 2025 was 0.39 yuan [1] Revenue Breakdown - Revenue growth was driven by traditional core business segments and explosive growth in new automotive electronics [1] - Revenue contributions from various segments were as follows: interior functional components (31.32%), chassis systems (28.96%), shock absorbers (13.52%), automotive electronics (11.15%), and thermal management systems (6.77%) [1] - Year-on-year revenue changes for segments were: interior functional components (+18.34%), chassis systems (+4.04%), shock absorbers (-7.92%), automotive electronics (+52.83%), and thermal management systems (-7.36%) [1] Profitability Analysis - The gross profit margin for Q3 2025 was 18.64%, a decrease of 2.24 percentage points year-on-year [2] - Operating costs reached 6.503 billion yuan, a year-on-year increase of 15.27%, with costs growing faster than revenue by 3.16 percentage points [2] - The net profit margin for Q3 2025 was 8.42%, down 2.54 percentage points year-on-year [2] - High R&D expenses and increased management costs negatively impacted profitability [2] Emerging Business Development - The company is efficiently advancing its robotics projects, with electric drive actuators entering mass supply [3] - The company has successfully applied its thermal management technology from the automotive sector to the liquid cooling server industry, supplying major clients like Huawei, NVIDIA, and Meta [3] - The market recognition and coverage of the company's new business areas are continuously improving [3] Future Projections - Revenue projections for 2025-2027 are 30.348 billion yuan, 38.821 billion yuan, and 46.350 billion yuan, respectively [3] - Expected net profits for the same period are 3.094 billion yuan, 3.770 billion yuan, and 4.317 billion yuan, respectively [3] - EPS forecasts for 2025-2027 are 1.78 yuan, 2.17 yuan, and 2.48 yuan, respectively, with a "recommended" rating [3]

Group 1 - The company is currently in a confidential stage regarding its collaboration with clients in the liquid cooling industry [2] - An investor inquired about the company's cooperation with Delta in the liquid cooling sector [2] - The company acknowledged the inquiry on its investor interaction platform [2]

Core Viewpoint - The company is expanding its technology layout beyond optical module business to include AEC products and liquid cooling-related products, which are significant for its overall development strategy [1] Group 1 - The company has engaged in discussions regarding its future technology layout, indicating a proactive approach to emerging fields related to AI [1] - The inclusion of AEC products and liquid cooling products highlights the company's commitment to diversifying its technological offerings [1] - The strategic importance of these new areas is emphasized, suggesting they play a crucial role in the company's growth and competitiveness [1]

Core Viewpoint - The company is in the initial stage of market expansion for liquid cooling-related business, with existing market uncertainties [1] Group 1: Company Developments - The company is actively monitoring the development trends of liquid cooling technology in data centers [1] - The company aims to promote product innovation to adapt to the needs of the data center sector [1] - The company is committed to providing high-reliability solutions for the data center field [1]

Core Viewpoint - The company, Yingweike, announced on August 12 that its stock price had deviated significantly, with a cumulative increase of over 20% in the last three trading days, which is classified as abnormal stock trading activity according to Shenzhen Stock Exchange regulations [1] Group 1: Company Operations - The company has noted increased market interest in AI, computing power equipment, and data centers, leading to heightened attention on its liquid cooling business [1] - After investigation, the company found no undisclosed significant information in public media that could have impacted its stock price [1] - The company aims to leverage its technological innovation in air cooling and liquid cooling to expand its customer base in domestic and international data centers and computing power equipment sectors [1] Group 2: Business Stability - The company has established a relatively complete liquid cooling technology, product, and solution capability [1] - Current production and operational conditions are normal, with no significant changes in the main business or external operating environment [1] - The company, its controlling shareholders, and actual controllers have no undisclosed significant matters or major matters under planning related to the company [1]