（编辑 任世碧） 证券日报网讯 12月22日，飞荣达在互动平台回答投资者提问时表示，公司目前在服务器、终端设备领 域研发的散热产品包含导热材料及各类散热模组、风扇、3DVC散热器、特种散热器、单相液冷冷板模 组、两相液冷冷板模组等，公司在液冷散热领域也已展现出显著的技术优势，在业务推进上取得了显著 进展。数据中心、服务器客户包括：H公司、中兴、思科、浪潮、大唐移动、烽火超微、新华三、超聚 变、联想、纬创、纬颖、仁宝、华硕、东方通信、神州鲲泰及其他重要客户等。关于部分重要客户的合 作细节，因涉及商业保密协议，不便于对外披露。随着液冷散热市场空间和市场潜力的逐步释放，公司 将依托技术创新、产品优化，以及在市场服务的深度挖掘，持续巩固并扩大公司在散热领域的竞争优 势。同时，公司也将持续加大对液冷相关产品的研发及技术创新投入，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。 ...

Core Viewpoint - The company is actively developing a range of cooling products for servers and terminal devices, with a focus on liquid cooling technology, which is expected to accelerate in the coming years [1] Group 1: Product Development - The company is involved in the research and development of various cooling products, including thermal materials, cooling modules, fans, 3D VC coolers, special coolers, single-phase liquid cooling plates, and two-phase liquid cooling plates [1] - The company has demonstrated significant technological advantages in the liquid cooling sector and has made notable progress in business development [1] Group 2: Clientele and Market Demand - The company's cooling products cater to a wide range of clients in the data center and server sectors, including major companies such as H Company, ZTE, Cisco, Inspur, and Lenovo, among others [1] - The company aims to continuously increase investment in research and innovation related to liquid cooling products to meet market demands and drive industrial progress [1]

Core Viewpoint - The company is actively developing new products and technologies in the communication industry, leveraging its expertise in electromagnetic shielding, thermal management, and base station antennas to meet customer demands [1] Group 1: Company Developments - The company is continuously aligning its product development with customer needs, focusing on new product development and technology reserves [1] - The company's products, including antenna resonators, base station antennas, special heat sinks, thermal materials, and electromagnetic shielding products, are applicable in 5G and 6G technologies [1] Group 2: Industry Trends - 6G communication technology is still in the exploratory research phase, and the company is committed to monitoring developments in this area [1] - The company aims to keep pace with industry technological advancements and provide products and solutions that adapt to industry development, enhancing its overall competitive advantage [1]

Core Viewpoint - Feirongda (300602.SZ) has technological reserves in micro-channel liquid cooling plates and is actively developing various cooling products for servers and terminal devices [1] Group 1: Technology and Product Development - The company is engaged in the research and development of thermal management products, including thermal conductive materials, various cooling modules, fans, 3D VC coolers, special coolers, single-phase liquid cooling plate modules, and two-phase liquid cooling plate modules [1] - Some of the company's products have already been delivered in bulk, indicating a level of market readiness and operational capability [1] Group 2: Market Position and Future Outlook - The company will continue to monitor developments in related technology fields to enhance its comprehensive competitive advantage [1]

Core Viewpoint - The company has confirmed its qualification as a supplier for NVIDIA, although specific details cannot be disclosed due to a confidentiality agreement with clients [1] Group 1: Company Products and Services - The company develops a wide range of cooling products for servers and terminal devices, including thermal materials, various cooling modules, fans, 3D VC coolers, special coolers, single-phase liquid cooling plates, and two-phase liquid cooling plates [1] - The company serves a diverse clientele in the data center and server sectors, including notable clients such as H Company, ZTE, Cisco, Inspur, Datang Mobile, and Lenovo, among others [1] Group 2: Technological Advancements - The company has demonstrated significant technological advantages in the field of liquid cooling and has made notable progress in business development [1] - The company is committed to continuously monitoring developments in relevant technological fields to enhance its competitive advantages [1]

Core Insights - Shenzhen Feirongda Technology Co., Ltd. reported a revenue of 2.883 billion yuan for the first half of 2025, representing a year-on-year growth of 27.42% [1] - The net profit attributable to shareholders reached 166 million yuan, an increase of 118.54% compared to the same period last year [1] Group 1: Financial Performance - The significant growth in performance is attributed to the company's continuous improvement and diversification of its product structure, active exploration of emerging market sectors, and deepening of the industrial chain, which enhanced its market share in mobile phones, computers, communication devices, and new energy sectors [1] - The company implemented refined operational management and comprehensive cost reduction measures, leading to a steady improvement in profitability [1] Group 2: Market Dynamics - In the consumer electronics sector, Feirongda saw an increase in market share and profitability for terminal products such as mobile phones and laptops, driven by a recovery in demand from the consumer electronics market and the return of significant customer-related business [1] - The growth of AI terminals becoming mainstream, ongoing consumer stimulus from national subsidies, and rising demand in emerging markets are expected to contribute to the recovery of consumer electronics, providing a broad market space for electromagnetic shielding and thermal management products [1] Group 3: Technological Advancements - In the telecommunications sector, sales revenue and profitability also experienced strong growth, largely due to the company securing bulk orders and commencing mass production for AI server-related businesses [2] - Feirongda has made significant technological advancements in cooling technologies, including single-phase and two-phase liquid cooling modules, 3D-VC cooling modules, and axial fans, to meet the evolving market demands [2] - The company successfully entered the humanoid robotics field through its acquisition of Shenzhen Guoli Intelligent Technology Co., Ltd., which specializes in dexterous hands and embodied intelligent robots, leveraging its core technologies in cooling and electromagnetic shielding for robotics applications [2]