LY iTECH(SZ:002600)2025-12-23 08:38Group 1: Investor Relations Activity Overview - The investor relations activity involved various financial institutions, including Morgan Stanley and multiple fund management companies, with a total participation of 131 entities [3][4]. - The event took place online on December 22, 2025, and was hosted by the company's Vice President and Board Secretary, Mr. Guo Rui, along with the Director of Investor Relations, Ms. Han Shuting [4]. Group 2: Acquisition of Limin Technology - The acquisition of Limin Technology aims to enhance the company's capabilities in server thermal management, covering products such as liquid cooling connectors and heat management solutions [5][6]. - Limin Technology has established long-term relationships with major overseas clients, including Nvidia and Google, which will synergize with the company's existing server business [6][10]. - The acquisition is part of the company's strategy to achieve its 2030 development goals through both organic and external growth, without negatively impacting financial or operational stability [7]. Group 3: Market Opportunities in AI Infrastructure - The global demand for AI computing power is expected to grow exponentially, with data center capital investment projected to increase from approximately $450 billion in 2024 to over $3 trillion by 2030 [8]. - The market for high-precision thermal management hardware for enterprise servers is forecasted to grow from $200 million in 2020 to $4.5 billion in 2024, with a compound annual growth rate (CAGR) of 133.6% [10]. - The shift from traditional air cooling to liquid cooling solutions is driven by the increasing power density and efficiency requirements of data centers [10][11]. Group 4: Product Development and Strategic Focus - The company plans to expand its product line in AI server power solutions, focusing on high power density and efficiency to meet the growing demands of AI workloads [11]. - Key products under development include liquid cooling plates, CDU, and high-performance GPU cooling solutions, aimed at addressing the stringent thermal management needs of large-scale deployments [11][12]. - The company's strategy emphasizes modularity and reusability across different applications, positioning it to leverage opportunities in emerging fields such as humanoid robots and AI servers [12].