Group 1: Company Overview and Market Position - Shenzhen Keda Technology Co., Ltd. is actively engaging with investors to discuss its business strategies and market outlook [1][2]. - The company has established a comprehensive core product system for AI intelligent computing applications, including high-power integrated power modules and liquid cooling solutions [2][3]. Group 2: Data Center Business Outlook - The company is optimistic about its data center business for the upcoming year, driven by the rapid advancement of AI technology and increased investments in the data center sector [3]. - Orders from overseas ODM major clients have shown steady growth, with expectations of high growth rates in Southeast Asia and North America over the next 2-3 years [3]. Group 3: Energy Storage Business - The company has developed a full range of energy storage products, including large-scale, commercial, and residential solutions, leveraging over 30 years of experience in power electronics [4]. - The energy storage sector is becoming one of the fastest-growing segments for the company, supported by strong demand in emerging markets such as the Middle East, Africa, and South America [4]. Group 4: Production Capacity and Expansion - Current production capacity is sufficient to meet market demand, with no supply gaps reported [4]. - The company's factory in Vietnam is a key part of its overseas capacity strategy, primarily serving the European and North American markets, with the first phase of production already launched [4].

Core Viewpoint - The company has a comprehensive range of data center products, including UPS power supplies, high-voltage direct current power supplies (HVDC), temperature control equipment, lead-acid/lithium batteries, micro-modules, power modules, and environmental monitoring systems, aligning with the trend of high-power, high-density data center construction [1] Group 1 - The company is upgrading its equipment towards high power and high density in response to the construction wave of medium and large high-power data centers [1] - A complete core product system has been established for AI computing application scenarios, including integrated power modules suitable for AI server clusters, megawatt-level UPS, high-frequency modular UPS, and micro-module data centers [1] - Key products include the PowerFort integrated power module, YMK3300 high-frequency modular UPS, IDM wind-liquid fusion micro-module data center, and LiquiX AI computing liquid cooling CDU, which meet the high computing power cooling requirements [1]

Group 1: Company Overview - Shenzhen Keda Technology Co., Ltd. is actively engaging with investors to discuss its business performance and strategies [2]. - The company’s core business in renewable energy has shown accelerated growth since 2025, driven by recovering demand in the European energy storage market [2]. Group 2: Energy Storage Business - The energy storage segment has become the fastest-growing core business for the company in 2025, significantly contributing to overall performance [2]. - Emerging markets in Southeast Asia, the Middle East, Africa, and South America are experiencing steady demand growth due to energy transition needs and policy support [2]. Group 3: Data Center Business - The company employs a "domestic deepening + overseas expansion" strategy for its data center business, establishing stable partnerships with major firms like ByteDance and Alibaba [3]. - The company is expanding its market presence in North America and Australia while solidifying its share in traditional markets like Europe and Southeast Asia [3]. Group 4: AI Computing Demand - The company has developed a comprehensive product line for data centers, including high-power UPS systems and liquid cooling solutions tailored for AI computing applications [3]. - Key products include integrated power modules and modular UPS systems designed to meet the high-density requirements of large-scale data centers [3]. Group 5: Investor Communication - The company adheres to strict information disclosure regulations, ensuring that all communications with investors are accurate, complete, and timely [3].

Group 1: Report Overview - The report is about a research on KSTAR, a company in the power equipment industry, conducted on September 15, 2025 [1][2][16] Group 2: Research Participants - Participating institutions include Kaiyuan Securities, Minfeng Capital, Hua'an Securities, Daqi Capital, Fuya Investment, Kabir Fund, Guokelonghui, Donghong Capital, and Zhuoyin Investment [2][17] Group 3: Core Views - The company uses a "brand direct sales + ODM" dual - track operation model in overseas new energy markets, achieving good results in Europe, Asia - Pacific, and Africa. In 2025, the European market's energy storage demand has recovered, and the company's new energy business is growing [22] - In the data center temperature control field, the company offers multiple solutions including liquid - cooled CDU and systems, and recently launched the LiquiX AI intelligent computing liquid - cooled CDU [24] - The Vietnam factory is an important overseas production layout, mainly for European and North American markets. The first - phase data center production line was put into operation this year, and new energy production lines will be arranged according to market demand [25] Group 4: Content Summary by Section 01. Research Basic Situation - The research object is KSTAR in the power equipment industry. The reception time was on September 15, 2025, and the reception staff included Deputy General Manager and Board Secretary Fan Tao, Securities Affairs Representative Zhang Lizhi, and Securities Affairs Specialist Jin Yulin [16] 02. Detailed Research Institutions - The institutions include Kaiyuan Securities (securities company), Minfeng Capital (others), Hua'an Securities (securities company), Daqi Capital (others), Fuya Investment (investment company), Kabir Fund (others), Guokelonghui (others), Donghong Capital (others), and Zhuoyin Investment (others) [17] 03. Research Institution Proportion - No relevant content provided 04. Main Content Data - The company introduced its situation and held an investor communication session. It responded to questions about overseas new energy business, data center temperature - control products, and the Vietnam factory [21][22][24]

Group 1: Company Overview and Market Strategy - The company utilizes a "brand direct sales + ODM" dual-track operation model to actively explore overseas new energy markets, achieving good development results in Europe, Asia-Pacific, and Africa [2] - In 2024, the European market faced fluctuations in new energy business due to inventory backlog from customers, impacting overall performance [2] - Since 2025, there has been a noticeable recovery in storage demand in the European market, leading to a significant recovery in the company's storage business [2] Group 2: Product Development and Innovation - The company is expanding its product offerings in temperature control for data centers, focusing on liquid cooling technology as an important solution for heat dissipation challenges [3] - The recently launched LiquiX AI intelligent liquid cooling CDU product is based on next-generation cold plate liquid cooling technology, emphasizing high-density heat dissipation, flexible deployment, safety of working fluids, and system redundancy [3] Group 3: Production Capacity and Market Focus - The Vietnam factory is a key part of the company's overseas production layout, primarily serving European and North American markets, with the first phase officially starting production this year [3] - The factory initially focuses on the data center product line, with plans to adjust the new energy production line based on market demand and potential second-phase investments [3] Group 4: Investor Relations and Compliance - The company conducted thorough communication with investors during the reception, adhering strictly to the "Information Disclosure Management System" to ensure the authenticity, accuracy, completeness, timeliness, and fairness of information disclosure [3] - There were no incidents of undisclosed significant information leakage during the investor relations activities [3]