尊敬的女士/先生 ： 您好！ 热忱欢迎您参加 由DT新材料和iTherM主办 2 02 5第六届热管理产业大会暨博览会（ iTherM 2025）。iTherM 2025 将 紧密依托电子信息、新材料、新能 源、 半导体、 数字经济、 汽车、 智慧网联 、低空经济、 绿色低碳等 诸多 产业集群，以热管理价值优势 及应用 场景 为导向， 洞见 和把握 热管理行业政 策、科学、材料、技术、标准和工程等前沿动态与发展趋势 。 诚挚邀请国内外知名学者、技术专家、产业上下游企业高管和代表、政府园区、科研院所和投资机构等莅临交流与合作， 共探热管理产业新动态、新技术、 新场景和新趋势，共享新质生产力千亿大市场！ 扫码立即报名！ 大会时间： 2025年12月3-5日 大会地点： 中国 · 深圳国际会展中心 10号馆 （深圳市宝安区福海街道展城路1号） 大会主题： 融合 · 创新 | 传递多一点 01 组织机构 主办单位 DT新材料 iTherM洞见热管理 协办单位 | 12月2-4日 | 全天 09:00-17:00 | 大会签到、注册 | 深圳国际会展中心 | | | --- | --- | --- | --- | -- ...

Core Viewpoint - The iTherM 2025 conference aims to explore the latest trends, technologies, and applications in the thermal management industry, focusing on various sectors such as electronics, new materials, and green energy [2][4]. Group 1: Conference Overview - The iTherM 2025 conference will be held from December 3-5, 2025, at the Shenzhen International Convention and Exhibition Center [4]. - The event is organized by DT New Materials and iTherM, with support from various academic and industry experts [4][5]. - The conference will feature discussions on thermal management policies, materials, technologies, and engineering advancements [2][4]. Group 2: Themes and Topics - The conference will cover multiple themes, including thermal interface materials, liquid cooling technologies, and thermal management in electric vehicles [5][12][27]. - Specific sessions will focus on advancements in thermal management materials, chip thermal management, and battery thermal management [5][19][25]. Group 3: Notable Speakers and Contributors - The conference will feature prominent figures such as academicians from leading universities and researchers from various institutions, including the Chinese Academy of Sciences and Tsinghua University [4][5][33]. - Experts will present on topics ranging from heat transfer measurement innovations to AI-enabled thermal management material design [17][18]. Group 4: Industry Participation - Major companies and institutions, including BYD, Huawei, and various universities, are expected to participate, showcasing their latest technologies and research [30][31][32]. - The event aims to foster collaboration between academia, industry, and government entities to drive innovation in thermal management solutions [2][4].

Core Points - The article discusses the upcoming iTherM 2025 Thermal Management Industry Conference and Expo, focusing on advancements in thermal management across various industries such as electronics, new materials, and renewable energy [2][4][39]. - The conference will take place from December 3 to 5, 2025, at the Shenzhen International Convention and Exhibition Center, emphasizing the integration and innovation in thermal management technologies [4][40]. Event Details - The conference is organized by DT New Materials and iTherM, with support from local government and various academic institutions [4][5]. - The event will feature multiple sessions covering topics like thermal interface materials, liquid cooling technologies, and thermal management in data centers and electric vehicles [6][39]. Key Themes - The conference will address six major application themes: data centers, new energy vehicles, humanoid robots, consumer electronics, eVTOL/unmanned aerial vehicles, and energy storage [39]. - Key topics include thermal science, thermal management materials, heat pipes, insulation materials, microjet cooling, and chiplet/3D IC thermal management [39]. Notable Speakers and Sessions - The event will host prominent experts from various universities and industries, discussing cutting-edge research and applications in thermal management [5][10][19]. - Specific sessions will focus on advancements in thermal management technologies, including high-performance thermal interface materials and innovative cooling solutions for high-density chips [10][19][30].

Core Viewpoint - The article emphasizes the critical role of thermal interface materials (TIMs) in addressing the heat dissipation challenges posed by 2.5D packaging in high-performance computing, highlighting the need for innovative solutions to enhance thermal management efficiency [2][4]. Group 1: Challenges in 2.5D Packaging - The 2.5D packaging architecture presents unprecedented complexity in heat transfer paths and thermal stress distribution, facing three main challenges: increased heat flow density, interface material pump-out due to height differences, and warping of chips leading to poor interface contact [3]. - Thermal interface materials are pivotal in the heat dissipation chain, accounting for over 60% of interface thermal resistance, making them a key element in solving thermal management issues [4]. Group 2: Requirements for Thermal Interface Materials - TIMs must possess ultra-high thermal conductivity to handle significant temperature rises and exceptional compliance to compensate for chip warping and height differences among multiple chips [6]. - Traditional high-performance materials like silicone grease and indium foils struggle to meet both reliability and compatibility requirements for larger sizes [6]. Group 3: Innovations by Hongfucheng - Hongfucheng has developed graphene thermal pads that address the core pain points of TIMs for 2.5D packaging, offering a solution characterized by high thermal conductivity (130 W/mK), low thermal resistance (as low as 0.04 °C・cm²/W), excellent compressibility (up to 70%), and long-term reliability due to the chemical inertness of graphene [7]. - The application of Hongfucheng's graphene thermal pads directly on the back of core chips like GPUs and HBM provides three key benefits: effective heat conduction across height differences, suppression of warping effects, and simplification of manufacturing processes by eliminating the need for gold plating and reflow soldering, thus significantly reducing production costs and time [9].

Core Viewpoint - The "14th Five-Year Plan" prioritizes high-quality development, emphasizing technological self-reliance and modernization of the industrial system, which will accelerate the development of strategic emerging industries like new materials, potentially creating a trillion-yuan market [1] Industry Summary - The chemical new materials industry is entering a period of accelerated development, particularly in segments such as photoresists, high-end engineering plastics, thermal interface materials, and high-end additives [1] - China's chemical industry chain is expected to reshape the global chemical industry landscape due to significant cost advantages and continuous technological breakthroughs [1] - In the refrigerant sector, adjustments to the quota scheme in 2026 are anticipated to ensure healthy industry development, maintaining a positive outlook on its long-term prosperity cycle [1] - Supply-side structural optimization is expected, with recommendations to focus on sectors with significant supply compression elasticity, such as organic silicon and membrane materials, as well as varieties with relative advantages [1] Investment Product Summary - The New Materials 50 ETF (159761) tracks the New Materials Index (H30597), which selects listed companies involved in advanced basic materials, key strategic materials, and cutting-edge new materials to reflect the overall performance of high-tech barrier and innovative capability enterprises in the new materials sector [1] - The industry allocation primarily covers high-tech manufacturing sectors such as chemicals, electronics, and new energy [1]

Group 1: Key Recommendations - The "14th Five-Year Plan" emphasizes technological self-reliance and focuses on the independent industrial chain of new materials, indicating a significant market opportunity in the chemical new materials industry, particularly in semiconductor materials and high-end engineering plastics [6][10] - The chemical new materials industry is expected to benefit from accelerated domestic substitution, with key players in various segments likely to gain from this trend [6][10] Group 2: Non-Banking Financial Sector Insights - The non-banking financial index rose by 2% last week, with brokerages and insurance indices showing synchronized increases of 2.1% and 1.8% respectively, indicating a recovery in market sentiment [12][13] - Major brokerages reported significant profit growth in Q3 2025, driven by improved market conditions, with average daily A-share trading volume reaching 2.1 trillion yuan, a year-on-year increase of 211% [13][14] Group 3: Industrial Profit Trends - In September 2025, industrial profits for large enterprises increased by 3.2% year-on-year, reflecting a positive trend influenced by low base effects and improved production growth [16][17] - The profit margin for industrial enterprises was reported at 5.5%, with a notable increase in revenue growth driven by both volume and price factors [17][18] Group 4: Electronics Sector Developments - The storage chip market is experiencing significant price increases, with major suppliers like Samsung and SK Hynix planning to raise DRAM and NAND prices by up to 30% in Q4 2025, driven by strong demand and reduced supply [20][21] - The partnership between AI company Anthropic and Google for a multi-billion dollar computing resource deal highlights the ongoing demand for AI-related computing power, further boosting the electronics sector [22][24]

Core Insights - The article emphasizes the rapid advancements in electronic technology, particularly in chip, device, and electronic equipment miniaturization, high performance, integration, and multifunctionality, which have led to increased power density and heat generation [2] - The iTherM 2025 conference will focus on the latest trends and innovations in thermal management materials and solutions, driven by technological applications in various fields such as consumer electronics, 5G, AI, and energy storage [3] Event Overview - The iTherM 2025 conference is scheduled for December 3-5, 2025, at the Shenzhen International Convention and Exhibition Center, China [3] - The theme of the conference is "Fusion · Innovation | Delivering a Little More," aiming to gather insights from leading research institutions and companies in the thermal management industry [3] - The conference will feature over 20 activities, including keynote speeches, roundtable discussions, and case studies, with an expected attendance of over 2000 participants and 350 exhibitors [3] Focus Areas - The conference will particularly highlight intellectual property, entrepreneurial projects, and innovative technologies that can transition from laboratory to market, promoting collaboration among government, industry, academia, and investment sectors [3] - Key topics will include advancements in thermal management materials, technology applications, and engineering solutions across various sectors [3][4] Notable Speakers and Topics - The conference will host renowned scholars and industry experts, covering topics such as non-reciprocal heat transfer, solid-state cooling, and thermal management materials for integrated circuits [5][6][7] - Specific sessions will address innovative thermal management technologies, including flexible high-efficiency systems and microfluidic cooling solutions [6][7][8] Special Activities - The event will feature an innovation marketplace, closed-door seminars, expert consultation rooms, and one-on-one exchanges for businesses seeking new directions and technologies [6][7] - A dedicated exhibition area will showcase innovative technologies and application solutions in thermal management [6][7] Registration and Participation - Registration fees for participants are set at ¥2200 for regular attendees and ¥1200 for students if registered before October 31, 2025 [17] - Payment options include bank transfer, Alipay, and WeChat Pay, with specific instructions for registration and invoicing provided [17][20]

Core Insights - The article emphasizes the growing importance of thermal management as a "hidden core" in cross-industry collaborative innovation, driven by advancements in new energy, semiconductors, data centers, automotive, and low-carbon economies [2] - The iTherM 2025 conference aims to create a comprehensive platform for the thermal management industry, integrating exhibition, forums, results release, and resource matching to foster collaborative development [3] Group 1: Event Overview - iTherM 2025 is set to take place in Shenzhen, featuring an exhibition area of 20,000 square meters and attracting over 350 core enterprises from the thermal management industry [4] - The previous conference attracted over 10,000 professional visitors and 1,500 attendees, highlighting its significance as a leading event in the thermal management sector [4] Group 2: Participation and Networking - The event will gather over 300 top enterprises, including international representatives like Honeywell, 3M, and NVIDIA, as well as domestic leaders such as BYD and Huawei, showcasing the latest products and technologies [7] - iTherM 2025 is expected to connect with over 1,000 targeted buyers from major companies, facilitating efficient supply-demand matching through VIP buyer channels [9] Group 3: Expert Engagement - The conference will feature over 100 expert reports from industry leaders and researchers, focusing on key topics such as thermal science and battery cooling, providing strategic insights and technology trend analyses [11] - A series of specialized forums will be held, allowing participants to share cutting-edge research and innovative applications across various sectors [13] Group 4: Exhibition Structure - The exhibition will be organized into six thematic areas, covering the entire thermal management process from materials to systems, with a focus on practical applications [14] - A dedicated area for innovative achievements will showcase the latest research breakthroughs from academic institutions, promoting the transition from research to industry applications [23] Group 5: Investment and Collaboration - iTherM 2025 will emphasize investment and entrepreneurial project matching, inviting industry capital and startups to engage in discussions, particularly in areas like innovative materials and data center systems [25] - The event aims to create a positive cycle of technological breakthroughs, industrial implementation, and capital empowerment within the thermal management industry [25] Group 6: Future Outlook - The conference is positioned as a key platform for driving technological innovation and industrial upgrades in the thermal management sector, with a focus on multi-scenario applications and comprehensive industry engagement [27]

Core Insights - The article emphasizes the growing importance of thermal management as a "hidden core" in various industries such as new energy, semiconductors, data centers, automotive, and low-carbon economy, driven by the need for cross-industry collaboration and innovation [2] - The iTherM 2025 conference aims to create a comprehensive platform for the thermal management industry, integrating exhibition, forums, resource matching, and achievement releases to foster collaborative development [3] Group 1: Event Overview - The iTherM 2025 conference is set to take place in Shenzhen, featuring an exhibition area of 20,000 square meters and attracting over 350 core enterprises from the thermal management industry [4] - The previous conference attracted more than 10,000 professional visitors and 1,500 guests, highlighting its significance as a leading event in the thermal management sector [4] Group 2: Participation and Networking - The event will gather over 300 top enterprises, including international representatives like Honeywell, 3M, and NVIDIA, as well as domestic leaders such as BYD and Huawei, showcasing the latest products and technologies [7] - iTherM 2025 is expected to connect with over 1,000 targeted buyers from major companies like Xiaomi, OPPO, and Alibaba, facilitating efficient supply-demand matching through VIP buyer channels [9] Group 3: Knowledge Sharing and Innovation - The conference will feature over 100 expert reports focusing on key topics such as thermal science, battery cooling, and liquid cooling systems, providing strategic insights and technology trend analyses [11] - More than 20 specialized forums will be held, allowing participants to share cutting-edge research and innovative applications, fostering deep integration between academic research and industrial practice [13] Group 4: Exhibition and Product Showcase - The exhibition will be structured into six thematic areas, covering the entire thermal management process from materials to systems, with a focus on practical applications in various sectors [14] - iTherM 2025 will also include a comprehensive product display platform, showcasing a complete ecosystem from thermal interface materials to system applications, allowing attendees to experience the latest trends and business opportunities [19] Group 5: Industry Collaboration and Investment - The event will facilitate industry-academia collaboration by showcasing innovative research and engineering advancements from universities and research institutions, promoting the transition from research to industrial application [23] - iTherM 2025 will focus on investment and entrepreneurship, connecting startups with capital and providing investors with access to cutting-edge projects in thermal management [25] Group 6: Conclusion and Future Outlook - The iTherM 2025 conference aims to drive technological innovation and industrial upgrades in the thermal management sector, creating a new blueprint for industry development [27]

Group 1 - The semiconductor competition is intensifying, with the U.S. adding 32 entities to its control list, including 23 Chinese companies, which may benefit China's domestic semiconductor and AI chip industries through policy protection, technological breakthroughs, and domestic substitution [5][6] - The automotive industry is expected to achieve sales of approximately 32.3 million vehicles in 2025, a year-on-year increase of about 3%, with new energy vehicle sales projected at around 15.5 million, reflecting a growth of about 20% [6][7] - The basic chemical industry is seeing a positive trend, with the Shanghai and Shenzhen 300 Index rising by 1.38% and the basic chemical index increasing by 2.36%, outperforming the market [7][8] Group 2 - The α-olefin industry is highly concentrated, with North America accounting for 62% of global production capacity, and the top five producers holding 86% of the capacity [12][13] - China's POE market has significant potential, with a projected apparent consumption of 440,000 tons in 2024, almost entirely reliant on imports, indicating a strong trend towards domestic substitution as new LAO facilities come online [13][14] - The cost of ethylene is crucial for controlling α-olefin and POE production costs, with domestic production benefiting from lower costs compared to North American counterparts [14][15] Group 3 - The Ministry of Commerce plans to introduce a series of policies aimed at high-quality development in the accommodation industry and the integration of railways and tourism [17] - The fiscal revenue for the first eight months of 2025 was 14.82 trillion yuan, a year-on-year increase of 0.3%, while fiscal expenditure rose by 3.1% to 17.93 trillion yuan [18] - The Federal Reserve has lowered interest rates by 25 basis points to a range of 4.00%-4.25%, marking the first rate cut in nine months [18][20] Group 4 - The A-share market showed mixed performance, with the Shanghai Composite Index closing at 3,876 points, up 0.37%, while the Shenzhen Component and ChiNext indices also saw gains [20][21] - The multi-financial sector led the market with a 2.87% increase, while sectors like precious metals and tourism experienced declines [22][24] - The market data indicates a financing balance of 2.3758 trillion yuan, with the 10-year Treasury yield at 1.8349% [26]