重点关注液冷&电源头部企业。公司方面，据证券时报表示，英维克：已明确进入NV供应链，产品线 全面，受益于头部集中趋势。 飞龙股份：液冷泵已进入NV供应链。 据证券时报报道，服务器供应链消息称，英伟达（NVIDIA）计划对下一代Vera Rubin架构人工智能服 务器机柜的代工业务，采取"长臂管理"模式。从26年Vera Rubin平台开始，英伟达可能会直接向合作伙 伴供应Level-10系统，以规范机架设计并显著缩短产品上市时间。据悉，英伟达或将在近期敲定水冷板 供应商名单，大概率有4家企业入选。 证券时报指出，英伟达今年下半年频繁出电源，液冷等设计标准，可能是为明年其液冷生态制定标准， 拉高水准，为明年的整机出货做准备。由于液冷散热是Vera Rubin架构的核心需求，如果英伟达采用集 中采购冷板等液冷组件的方式，对于液冷供应商的产能交付，品控将是极大的挑战，小规模厂商再进入 英伟达供应链难度将大幅提升。 对液冷零件供应商而言，NVIDIA 下一代架构 ( Vera Rubin) 由于功耗极高，液冷部分覆盖率更好，电 源，存储等部分也将采用液冷。如果能成为NVIDIA-L10方案的冷板模组承包商，将获得稳定 ...

Group 1: Financial Performance - The company's total revenue for the first half of the year increased by 26.30% year-on-year, primarily driven by the growth in new energy vehicle sales and rapid iteration of customer vehicle technologies [2] - The oil tank pipeline business showed significant growth, positively impacting overall revenue [2] Group 2: Gross Margin and Cost Management - The gross margin is expected to stabilize and slightly recover throughout the year, aided by efforts in new product development, market expansion, and cost reduction initiatives [3] Group 3: Product Development and Market Expansion - The company has completed major performance testing for its UQD product and is developing supporting liquid cooling components and independent system solutions [4] - New products are being developed in line with trends in new energy smart vehicles, including hydrogen fuel cell pipelines and high-pressure air suspension pipelines [5] - The company has established a dedicated battery division to enhance research and market development for battery-related technologies, with significant growth in battery-related business [5] Group 4: Technical Similarity and Synergy - The main business products, including fluid and temperature control systems, share over 70% technical similarity with the company's smart control business, indicating strong potential for synergy [6][7] - The revenue from liquid thermal management products covers nearly half of the company's main business, highlighting the complementary nature of the two business areas [7]