Summary of the Conference Call for 美丽信 Industry and Company Overview - The conference call discusses 美丽信, a company involved in the deployment of 5.5G base stations and liquid cooling technology, with a focus on expanding its overseas customer base and enhancing profitability from 2026 onwards [2][4]. Core Points and Arguments 1. 5.5G Base Station Liquid Cooling Deployment: 美丽信 plans to deploy 5.5G base stations using liquid cooling solutions, which are expected to significantly enhance profit margins compared to traditional base station components starting in 2026 [2][4]. 2. North American Market Projects: The company anticipates that its new generation autonomous driving and energy storage projects in North America will contribute incremental revenue from 2026, particularly with a growth expectation exceeding 50% in the U.S. energy storage market [2][4]. 3. Semiconductor Business Growth: The subsidiary "于来生" has made breakthroughs with clients in Shanghai and Shenzhen, and the acceleration of domestic substitution is expected to lead to a definitive increase in semiconductor production capacity by 2026 [2][4]. 4. Liquid Cooling Technology Advantages: 美丽信 has accumulated expertise in liquid cooling technology, which is projected to save 30% of energy for data centers, addressing the pressing electricity shortage in the U.S. [2][6]. 5. Market Opportunities for Liquid Cooling: Predictions indicate that by 2027, the market share of liquid cooling for non-NV series chips will significantly exceed that of NV series chips, presenting substantial market opportunities for 美丽信 [2][6]. Additional Important Insights 1. Valuation Comparison: Similar companies like 英维克 have market valuations exceeding 70 billion, while 美丽信's current valuation is only 9 billion, indicating significant room for valuation growth [3][5]. 2. Collaborative Efforts: The company is leveraging its past experience in electromechanical fields and is actively pursuing collaborations, particularly with Taiwanese teams, to enhance its market presence [5][6]. 3. Diverse Application Prospects: Major companies like Google are increasingly adopting liquid cooling solutions for various ACI chips, GPUs, and CPUs, indicating a broadening application landscape for 美丽信's technology [6].
美利信20251125