(一)重要市场新闻 2、2025培育钻石产业大会6日在郑州启幕，现场签约30个全产业链项目，总投资额不低于150亿元。此 次大会还发布了《2025培育钻石产业发展报告》，并举办产业对话会及产教融合对接会等活动。依托7 家超硬材料领域国家级研发平台，郑州在高温高压法，大功率化学气相沉积法等关键技术上持续领先， 并拓展至散热、光学等高端应用领域。河南省中原珠宝创新产业（300832）研究院院长张杰在大会上介 绍，当前中国培育钻石市场规模约140亿元，预计到2030年将超过1025亿元，中国将是培育钻石市场规 模快速增长的千亿蓝海。 点评：随着5G通信、人工智能、云计算等技术的爆发式发展，算力呈指数级增长，对散热能力提出更 高需求。而金刚石散热在高算力场景中具有超高导热率，出色的热稳定性，与材料兼容性好等显著优 势。科技巨头已在尝试金刚石散热技术。未来随着金刚石散热方案不断完善，有望重构散热技术全球竞 争格局，而我国为世界超硬材料生产大国，其人造金刚石的产量位居全球第一，产业链优势明显，有望 充分受益。概念股包括国机精工（002046）、四方达（300179）、黄河旋风（600172）等。 3、中国电信（60172 ...

Core Viewpoint - The report highlights the significant growth in the semiconductor equipment sector, driven by advancements in 5G communication, artificial intelligence, and cloud computing, which demand enhanced cooling solutions for high-performance chips [1][3]. Market Review - During the period from September 22 to September 26, the CSI 300 index increased by 1.1%, while the machinery sector rose by 1.6%, ranking 7th among all primary industries [2]. - The semiconductor equipment segment experienced the highest growth, with a rise of 15.4%, whereas the plastic processing machinery sector saw the largest decline, dropping by 2.0% [2]. Industry Insights - Diamond cooling solutions have emerged as a focal point, with the increasing demand for cooling capabilities in high-performance computing scenarios [3]. - Key advantages of diamond cooling include: 1. Exceptional thermal conductivity, exceeding 2200 W/(m·K), significantly outperforming traditional materials like copper and aluminum [3]. 2. Excellent thermal stability, maintaining physical and chemical properties under high-temperature conditions without deformation or performance degradation [3]. 3. Good compatibility with semiconductor materials, forming reliable and stable cooling structures without chemical reactions with most semiconductor materials such as silicon and gallium nitride [3]. - Major technology companies, including NVIDIA and Huawei, are exploring diamond cooling technologies, with NVIDIA testing diamond-cooled GPUs that can triple AI and cloud computing performance [3]. - The report suggests that as diamond cooling solutions continue to evolve, they may reshape the global competitive landscape of cooling technologies, with China positioned to benefit due to its leading production of synthetic diamonds [3].

Group 1: Industry Overview - The semiconductor industry faces significant thermal management challenges as chip manufacturing processes become more refined, leading to increased heat generation and reduced reliability [1][2] - Diamond is emerging as a revolutionary material for thermal management, boasting thermal conductivity 13 times that of silicon and 4-5 times that of copper or silver, making it a potential game-changer in semiconductor applications [1][2] Group 2: Performance Enhancements - Utilizing diamond thermal management technology can enhance GPU and CPU performance by up to three times, reduce temperatures by 60%, and lower energy consumption by 40%, resulting in substantial cost savings for data centers [2] - In electric vehicles, diamond technology can increase charging speeds by five times and reduce thermal load by ten times, while also minimizing inverter size by six times [2] Group 3: Market Potential - The global market for diamond thermal management is projected to grow explosively, with estimates indicating a rise from approximately $0.5 million in 2025 to $15.2 billion by 2030, reflecting a compound annual growth rate of 214% [3][4] - The penetration rate of diamond thermal management technology in various sectors, including data centers, electric vehicles, consumer electronics, and satellite communications, is expected to increase significantly over the next few years [4] Group 4: Domestic Industry Strength - China dominates the global diamond production market, accounting for over 90% of the supply, with a complete and cost-effective industrial chain supporting this position [5][6] - Key Chinese companies are advancing in both equipment manufacturing and raw material production, with significant investments in diamond thermal management applications [5][6][8] Group 5: Company Initiatives - Companies like 力量钻石, 沃尔德, and 国机精工 are actively developing diamond-based thermal management solutions for semiconductor devices, with various projects aimed at enhancing performance in high-end applications [9] - The establishment of research centers and partnerships with academic institutions indicates a strong commitment to innovation in diamond applications for thermal management [9]