此外，3月19日瑞声科技公告已控股收购头部液冷企业远地科技，切入数据中心液冷赛道，已为昆仑 芯、摩尔线程、华为昇腾等GPU厂商，以及字节跳动、腾讯、阿里等互联网巨头提供规模化项目交付及 服务。 AI场景的全面渗透，为瑞声科技散热业务打开了广阔增长空间。据公开资料，瑞声科技首创了环形 VC、双腔3D组合VC等散热产品，其散热方案效率较传统方案成倍提升，适配AI终端芯片热流密度倍 增的痛点。 目前，瑞声科技国内高端手机VC散热市场份额超50%，同时是iPhone 17 Pro系列核心散热供应商。2025 年10月苹果公司COO(首席运营官)Sabih Khan走访了瑞声科技位于江苏常州的均热板模组生产工厂，参 观了首条全自动化的超薄均热板生产线，并点赞其科技创新和落地能力。2026年公司被爆出新增1.5亿 片VC散热产能，目前年规划产能已超3亿片，有望占据全球智能手机VC散热市场半壁江山。随着 iPhone 18全系、iPhone Fold、iPad等产品全面引入VC均热板，瑞声科技散热业务有望进一步打开增长 空间。 ( 瑞声科技 CEO 潘政民陪同苹果 COO Sabih Khan 参观散热产线 ) AI算力爆 ...

Core Insights - 瑞声科技 is expanding its production capacity by adding 150 million units of ultra-thin VC heat spreaders, aiming to solidify its position in the high-end smartphone VC market, where it currently holds over 50% market share in China [1][4] - The company is strategically positioning itself as a leading supplier in the AI device cooling sector, reflecting its commitment to becoming a core supplier for AI infrastructure [1][3] Market Position and Growth - 瑞声科技's heat dissipation products are projected to achieve sales exceeding 300 million yuan in 2024 and are expected to surpass 1.2 billion yuan in 2025, indicating a growth rate of over 300% within a year [4] - The compound annual growth rate (CAGR) for VC heat spreader shipments from 2020 to 2025 is expected to exceed 90%, with shipments reaching 150 million units by 2025 [7][9] Technological Advancements - The company has developed several industry-standard products, including the first circular VC and the first dual-chamber 3D combination VC, which significantly enhance heat dissipation efficiency [6][4] - 瑞声科技's proprietary flexible thermal materials and comprehensive manufacturing processes have established a competitive barrier, resulting in a product yield that is 15 percentage points higher than the industry average [6][4] Production Capacity and Client Relationships - Following the expansion, 瑞声科技's annual planned production capacity will exceed 300 million units, creating a positive feedback loop with major clients [7][9] - The collaboration with Apple has led to innovations in production efficiency and sustainability, such as the development of a new logistics system that reduces plastic waste [7][9] Market Expansion and Future Prospects - The company is extending its product applications beyond smartphones to include AR/VR devices, humanoid robots, and smart automotive sectors, addressing the growing demand for effective heat dissipation solutions [11][12] - The global heat dissipation market is projected to exceed $26.1 billion by 2028, with demand shifting from consumer electronics to sectors like smart automotive and data centers [11][12] Competitive Landscape - Despite its advantages, 瑞声科技 faces strong competition from companies like Taiwan's Chi Mei, Japan's Nidec, and Suzhou Tianmai, each with unique technological strengths [12] - The evolving technology landscape, particularly the increasing heat flow density in AI servers, presents challenges and opportunities for 瑞声科技 to innovate in liquid cooling technologies [12]