证券代码：000811 证券简称：冰轮环境 冰轮环境技术股份有限公司投资者关系活动记录表 编号：【2026】第 015 号 | 投资者关 | □特定对象调研 | □分析师会议 | | --- | --- | --- | | | □媒体采访 | □业绩说明会 | | 系 | □新闻发布会 | √路演活动 | | 活动类别 | □现场参观 | □其他 | | 参与单位 | | | | 名称 | 海富通基金陈华鑫、兴业证券郭亚男 | | | 及人员姓 | | | | 名 | | | | 时间 | 2026 年 3 月 2 日 | | | 地点 | 腾讯会议 | | | 上市公司 | | | | 接 | 董事会秘书孙秀欣 | | | 待人员姓 | | | | 名 | | | 活动期间谈论的主要内容如下： 一、讨论了业务情况和产业板块 公司致力于在能源和动力领域提供先进的系统解决方案和全生 命周期服务，主要产品形式为压缩机和换热装置，实施温控、增压等 冷热能管理功能，覆盖-271℃-200℃温度区间。具体有螺杆式压缩机、 离心式压缩机、吸收式制冷机、活塞式压缩机、涡旋式压缩机、工业 热泵、储能蓄能装置、真空冻干设备、速 ...

Core Viewpoint - The company Ice Wheel Environment, through its subsidiaries Dunham-Bush and Ice Wheel Heat Exchange Technology, provides cooling equipment for data centers and liquid cooling systems, highlighting its strong market position and technological advancements in the HVAC industry [2]. Group 1: Company Overview - Dunham-Bush has a 131-year history and is recognized as a leading player in the HVAC sector in Europe and North America [2]. - The company’s products, including the "Variable Frequency Centrifugal Chiller" and "Air-Cooled Screw Chiller with Integrated Natural Cooling Function," are listed in the Ministry of Industry and Information Technology's directory of advanced applicable technologies for national green data centers [2]. Group 2: Market Presence - The company has successfully served numerous domestic projects, including major data centers for the National Supercomputing Center in Guangzhou and China Mobile, among others [2]. - Internationally, Dunham-Bush collaborates with local integrators to serve projects across North America, Australia, Southeast Asia, and the Middle East, indicating a robust global market presence [2]. Group 3: Product Innovations - Ice Wheel Heat Exchange Technology offers a range of products, including evaporative condensers and closed cooling towers, with its "Low-Carbon Energy-Saving Closed Cooling Technology" recognized as a national energy-saving demonstration technology [2]. - The company has seen a shift in the IDC chiller market, with a decreasing proportion of screw-type chillers and an increasing share of centrifugal chillers, particularly magnetic levitation types [2]. Group 4: Manufacturing and Standards - The company faces high standards for IDC chillers, including requirements for operational conditions, seismic resistance, reliability, energy efficiency, and recovery time after power outages, which create significant entry barriers [2]. - Dunham-Bush has expanded its overseas manufacturing base while its domestic facilities begin to support international markets [2].

Group 1: Business Overview and Product Applications - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with products including compressors and heat exchangers, covering a temperature range of -271°C to 200°C [3] - Products are widely used in various industries such as food processing, cold chain logistics, industrial refrigeration, commercial air conditioning, and energy recovery systems [3] - The company has developed innovative technologies for nuclear power applications, including cooling systems and heat recovery solutions, supporting multiple nuclear power stations in China [6][7] Group 2: Data Center and Cooling Systems - The company’s subsidiary, Dunham-Bush, provides cooling equipment for data centers, including variable frequency centrifugal chillers and integrated natural cooling systems, with successful projects in both domestic and international markets [4] - The proportion of centrifugal chillers, especially magnetic levitation types, is increasing in the IDC market, while the proportion of screw chillers is decreasing [6] - The company has established a global after-sales service system supported by overseas manufacturing bases [6] Group 3: Heat Recovery and Energy Management - The company’s heat management segment focuses on industrial heat pumps and has been recognized as a national-level specialized "little giant" enterprise, with 96 patents and 33 software copyrights [8] - The company’s technologies for waste heat recovery and high-temperature heat pumps are aligned with national carbon neutrality policies, providing long-term demand certainty [10] - The company’s absorption heat exchangers and other technologies have received multiple national awards and recognitions for their energy-saving capabilities [9] Group 4: Aerospace and Fusion Energy Applications - The company produces liquefaction units for aerospace fuels, including hydrogen and methane, and has developed a helium gas compressor for superconducting magnet cooling systems used in controlled nuclear fusion [11][12] - The helium gas compressor is recognized as a significant technological equipment project by the National Energy Administration, supporting major scientific research projects [11] Group 5: Financial Projections and Market Demand - The joint venture with Yantai Modern Ice Wheel Heavy Industry is projected to generate revenues of over 700 million in 2024 and approximately 1 billion in 2025, driven by strong market demand [7]

Group 1: Business Overview and Product Applications - The company provides advanced system solutions and lifecycle services in the energy and power sectors, focusing on compressors and heat exchange devices, covering a temperature range of -271°C to 200°C [3] - Products are widely used in various industries, including food processing, cold chain logistics, industrial refrigeration, commercial air conditioning, and energy recovery systems [3] - Key applications include data centers, nuclear power, and industrial heat management, with a focus on energy efficiency and carbon reduction technologies [3][10] Group 2: Data Center and Cooling Systems - The company’s subsidiaries supply cooling equipment for data centers, including Dunham-Bush, which has a 131-year history and offers advanced cooling solutions [4] - Notable products include variable frequency centrifugal chillers and integrated natural cooling systems, recognized in the national green data center technology catalog [4] - The market for data center cooling is robust, with successful projects in both domestic and international markets [4][6] Group 3: Nuclear Power Applications - The company focuses on cooling and heating solutions for nuclear power plants, developing technologies for safe and efficient operation [6][7] - Recent projects include cooling systems for various nuclear power stations across China, supporting the country's nuclear energy initiatives [6][7] Group 4: Heat Recovery and Energy Management - The company is committed to energy management through industrial heat pumps and waste heat recovery technologies, aligning with national carbon reduction policies [8][10] - The Beijing Huayuan Taima company has been recognized as a national-level "little giant" enterprise, holding numerous patents and awards for its innovative technologies [8][9] Group 5: Innovative Technologies and Future Prospects - The company has developed a helium gas compressor for low-temperature applications, contributing to significant scientific research projects [11] - Future projects include gas turbine waste heat cooling technologies, enhancing energy utilization efficiency [12]

Group 1: Business Overview and Product Applications - The company provides advanced system solutions and lifecycle services in the energy and power sectors, focusing on compressors and heat exchangers, covering a temperature range of -271℃ to 200℃ [3] - Products include various types of compressors (screw, centrifugal, absorption, piston, and scroll), industrial heat pumps, energy storage devices, and specialized cooling equipment for diverse applications [3] - Key industries served include food processing, cold chain logistics, industrial cooling, commercial air conditioning, and special air conditioning for data centers and nuclear power [3] Group 2: Data Center and Liquid Cooling Systems - The company’s subsidiaries supply cooling equipment for data centers, including Dunham-Bush, which has a 131-year history and offers advanced cooling solutions [4] - Notable products include variable frequency centrifugal chillers and air-cooled screw chillers, recognized in the national green data center technology catalog [4] - Successful projects include major data centers for China Mobile, China Unicom, and various banks, with ongoing collaborations in North America and Southeast Asia [4] Group 3: Nuclear Power Applications - The company focuses on cooling and heating solutions for nuclear power, developing technologies for safe and efficient operation [6] - Recent projects include cooling systems for multiple nuclear power stations in China, enhancing safety and energy efficiency [6] - Dunham-Bush is a leading supplier of cooling systems for nuclear islands, with over 20 years of experience in the sector [7] Group 4: Heat Recovery Steam Generators (HRSG) - The joint venture with Yantai Modern Ice Wheel Heavy Industry produces HRSGs for combined cycle gas power plants, with projected revenues of over 700 million in 2024 and approximately 1 billion in 2025 [8] - The company has established a competitive edge through partnerships with major global players like GE and Siemens [8] Group 5: Thermal Management and Carbon Neutrality - The company is committed to carbon neutrality, focusing on industrial heat pumps and energy recovery technologies [9] - The subsidiary Beijing Huayuan Taima has developed several patented technologies, including absorption heat exchangers and waste heat recovery systems [9] - The company’s technologies are positioned to meet increasing regulatory demands for energy efficiency and carbon reduction, with a long-term market outlook [9] Group 6: Gas Turbine Waste Heat Cooling Technology - The company produces lithium bromide absorption chillers that utilize waste heat from gas turbines for combined power and cooling solutions [9] - This technology enhances energy efficiency and provides significant energy savings [9]

Core Viewpoint - The company Ice Wheel Environment (000811) is actively involved in providing cooling equipment for data centers and liquid cooling systems through its subsidiaries Dunham-Bush and Ice Wheel Heat Exchange Technology, highlighting its strong market position and technological advancements in the HVAC sector [1] Group 1: Company Overview - Dunham-Bush has a 131-year history and is recognized as a leading player in the HVAC sector in Europe and North America [1] - The company’s products, including the "Variable Frequency Centrifugal Chiller" and "Air-Cooled Screw Chiller with Integrated Natural Cooling Function," have been included in the Ministry of Industry and Information Technology's directory of advanced applicable technologies for national green data centers [1] Group 2: Product and Technology - The "Variable Frequency Centrifugal Chiller" includes high-pressure and magnetic levitation variants, showcasing the company's innovation in energy-efficient cooling solutions [1] - Ice Wheel Heat Exchange Technology offers a range of products such as evaporative condensers, closed cooling towers, and hybrid cooling systems, with its "Low-Carbon Energy-Saving Closed Cooling Technology" recognized as a national energy-saving demonstration technology [1] Group 3: Market Presence - The company has successfully served numerous domestic projects, including major data centers for national supercomputing and various banks, indicating a strong foothold in the domestic market [1] - Internationally, the company collaborates with local integrators to serve projects across North America, Australia, Southeast Asia, and the Middle East, reflecting a robust global market presence [1] Group 4: Industry Trends - The market for IDC chillers is characterized by high standards for operational conditions, seismic resistance, reliability, and energy efficiency, creating significant entry barriers [1] - There is a noticeable shift in the IDC chiller market from screw-type to centrifugal chillers, particularly magnetic levitation types, which are becoming the majority [1]

Group 1: Business Overview and Product Applications - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with products including compressors and heat exchangers, covering a temperature range of -271℃ to 200℃ [3] - Products are widely used in various industries such as food processing, cold chain logistics, industrial refrigeration, commercial air conditioning, and energy recovery systems [3] - Specific applications include data centers, nuclear power, and industrial heat management, showcasing the versatility of the company's offerings [4][6][8] Group 2: Data Center Solutions - The company’s subsidiaries provide cooling equipment for data centers, including Dunham-Bush, which has a 131-year history and offers advanced cooling technologies [4] - Key products like variable frequency centrifugal chillers are recognized in the national green data center technology catalog, indicating their compliance with high standards [4] - Successful projects include major data centers across China and partnerships in North America, Australia, and Southeast Asia, reflecting a strong market presence [4] Group 3: Nuclear Power Applications - The company has developed innovative technologies for nuclear power, focusing on core scenarios such as nuclear island cooling and heat recovery [6][7] - Recent projects include serving multiple nuclear power stations in China, indicating a robust capability in this sector [6][7] - The company is involved in the development of advanced cooling systems for small modular reactors, aligning with national energy strategies [7] Group 4: Heat Recovery and Energy Management - The company is committed to carbon neutrality, offering a full range of industrial heat pump services and innovative technologies for heat recovery [8] - The Beijing Huayuan Taima company has been recognized as a national-level "little giant" enterprise, emphasizing its technological advancements [8] - The company’s heat recovery technologies are positioned to become essential under new carbon reduction policies, indicating a long-term market opportunity [8] Group 5: Financial Projections and Market Demand - The joint venture with Yantai Modern Ice Wheel Heavy Industry is projected to generate revenues of over 700 million in 2024 and approximately 1 billion in 2025, reflecting strong market demand [6] - The company is expanding its production capacity to meet increasing market needs, particularly in the HRSG (Heat Recovery Steam Generator) sector [6] Group 6: Innovative Technologies - The company has developed technologies for liquefying aerospace fuels and gas turbine waste heat recovery, enhancing energy efficiency [9] - Notable innovations include the lithium bromide absorption chiller, which utilizes waste heat from gas turbines for cooling, demonstrating a commitment to energy efficiency [9]

Group 1: Business Overview and Product Applications - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with products including compressors and heat exchangers, covering a temperature range of -271℃ to 200℃ [3] - Products are widely used in various industries such as food processing, cold chain logistics, industrial refrigeration, commercial air conditioning, and energy recovery systems [3] - Specific applications include data centers, nuclear power, and industrial heat management, showcasing the versatility of the company's offerings [4][6][8] Group 2: Data Center and Cooling Systems - The company’s subsidiary, Dunham-Bush, provides cooling equipment for data centers, including variable frequency centrifugal chillers and integrated natural cooling systems, with successful projects in both domestic and international markets [4][5] - The proportion of centrifugal chillers, especially magnetic levitation types, is increasing in the IDC chiller market, indicating a shift in technology preference [6] - The company has established a global after-sales service system supported by overseas manufacturing bases [6] Group 3: Nuclear Power Applications - The company has developed innovative technologies for nuclear power applications, including cooling systems and heat recovery solutions, to support the safe and efficient operation of nuclear power plants [6][7] - Recent projects include collaborations with multiple nuclear power stations across China, enhancing the company’s footprint in the nuclear sector [7] Group 4: HRSG Products and Market Performance - The joint venture with Yantai Modern Ice Wheel Heavy Industry produces heat recovery steam generators (HRSG) for combined cycle gas power plants, with projected revenues of over 700 million in 2024 and approximately 1 billion in 2025 [8] - The company has seen strong market demand, leading to the completion of new production facilities [8] Group 5: Thermal Management and Carbon Neutrality - The company is actively involved in thermal management solutions, focusing on industrial heat pumps and energy recovery technologies, which are essential for achieving carbon neutrality [8][9] - The company has been recognized for its innovative technologies, including absorption heat exchangers and waste heat recovery systems, contributing to energy efficiency and emissions reduction [9] Group 6: Aerospace Fuel Applications - The company produces liquefaction units for aerospace fuels, including hydrogen and methane, demonstrating its capabilities in high-tech applications [9] - The development of a new efficient helium screw compressor for hydrogen liquefaction has been recognized as a significant technological advancement in the energy sector [9] Group 7: Gas Turbine Waste Heat Recovery - The company offers lithium bromide absorption chillers that utilize waste heat from gas turbines for combined cooling and power generation, enhancing energy utilization efficiency [9]

Group 1: Business Overview and Product Applications - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with products including compressors and heat exchangers that manage thermal energy across a temperature range of -271°C to 200°C [3] - Products are widely used in various sectors such as food processing, cold chain logistics, industrial cooling systems, commercial air conditioning, and energy recovery [3] - Specific applications include data centers, nuclear power, and industrial heat management, showcasing the versatility of the company's offerings [4][6][8] Group 2: Data Center and Cooling Systems - The company’s Dunham-Bush subsidiary provides cooling equipment for data centers, including variable frequency centrifugal chillers and integrated natural cooling systems, with successful projects in major Chinese data centers [4] - The proportion of centrifugal chillers, especially magnetic levitation types, is increasing in the IDC market, indicating a shift in technology preference [6] - The company has established a global after-sales service system supported by overseas manufacturing bases [6] Group 3: Nuclear Power Applications - The company has developed innovative technologies for nuclear power applications, including cooling systems and heat recovery solutions, to support the safe operation of nuclear power plants [6][7] - Recent projects include collaborations with various nuclear power stations across China, enhancing the company's footprint in this critical sector [7] Group 4: HRSG Products and Market Performance - The joint venture with Yantai Modern Ice Wheel Heavy Industry produces heat recovery steam generators (HRSG) for combined cycle gas power plants, with projected revenues of over 700 million in 2024 and approximately 1 billion in 2025 [8] Group 5: Thermal Energy Management - The company is focusing on industrial heat pumps and energy management solutions in response to carbon neutrality policies, with significant advancements in technology and numerous patents granted [8][9] - The company’s technologies are positioned to become essential in reducing energy consumption and carbon emissions in high-energy industries [9] Group 6: Aerospace Fuel Applications - The company produces liquefaction units for aerospace fuels, including hydrogen and methane, contributing to advancements in energy efficiency [9] Group 7: Gas Turbine Waste Heat Recovery - The company offers lithium bromide absorption chillers that utilize waste heat from gas turbines, enhancing energy utilization efficiency [9]

Group 1: Business Overview - The company focuses on providing advanced system solutions and lifecycle services in the energy and power sectors, with products including compressors and heat exchangers, covering a temperature range of -271℃ to 200℃ [3] - Key product types include screw compressors, centrifugal compressors, absorption chillers, piston compressors, scroll compressors, industrial heat pumps, energy storage devices, vacuum freeze-drying equipment, and marine refrigeration equipment [3] Group 2: Application Areas - Products are widely used in various sectors such as food processing, cold chain logistics, industrial refrigeration, commercial air conditioning, and special industrial cooling systems [3] - Specific applications include food and pharmaceutical vacuum freeze-drying, energy and chemical cooling processes, and data centers [3] Group 3: Data Center Solutions - The company’s subsidiaries provide cooling equipment for data centers, including liquid cooling systems and heat exchange devices [4] - Dunham-Bush, a subsidiary, has a 131-year history and offers products recognized in the national green data center technology catalog, including variable frequency centrifugal chillers [4] Group 4: Market Presence and Growth - The company has successfully served numerous domestic data center projects and collaborates with local integrators for international projects in North America, Australia, Southeast Asia, and the Middle East [4] - The market demand for cooling solutions remains high, with significant growth expected in the coming years, particularly for HRSG products, projected to generate over 700 million in revenue in 2024 and approximately 1 billion in 2025 [6]