Envicool(SZ:002837)2026-02-10 02:10Company and Industry Summary Company: 英维克 (Invec) Key Points - AWS Factory Audit Progress: The audit progress and feedback from AWS have exceeded market expectations, indicating strong confidence in the company's capabilities [1] - Trainium3 Product Upgrade: The AWS Trainium3 product is set to fully adopt a liquid cooling solution by 2026, representing a significant upgrade over previous generations and better meeting the thermal management needs of high-performance computing scenarios [1][3] - Liquid Cooling Market Growth: The standardization plan for liquid cooling is expected to be a core driver of growth in the overseas liquid cooling market, highlighting the increasing demand for advanced cooling solutions [2] - Order Performance: The company has exceeded expectations for annual orders, with potential for further upward revisions. The anticipated shipments from foreign CSP manufacturers for TPU have been adjusted upwards, contributing to a sustained increase in liquid cooling penetration [3][4] - Domestic Orders: Domestic orders are expected to stabilize between 1.5 to 2 billion yuan. The previous market expectation was around 5 billion yuan, but the actual order scale is now confirmed to be at least 6.5 to 7 billion yuan, with potential for further upward adjustments, providing solid support for performance exceeding expectations [4] - NVIDIA Collaboration: There is a high probability that the company will secure the code for the Rubin200 microchannel liquid cooling plate from NVIDIA. The company possesses comprehensive advantages in technology, supply chain, and customer service in the liquid cooling sector [4] - Future Growth Potential: As orders materialize, the scale is expected to be adjusted upwards, further enhancing performance [5]