Yonggui(SZ:300351)2026-02-13 02:35Summary of Conference Call Notes Company and Industry Involved - The focus is on Yonggui Electric (永贵电器) within the context of the charging pile industry and AI server market [1][2][3] Core Points and Arguments - UQD Connector Achievement: The company has secured a designated point with Weidi for the UQD connector, with annual shipments to Weidi projected at 30-40 million units [2][3] - Liquid Cooling Technology: The liquid cooling UQD connectors have been sent for NV sampling, indicating progress in product development [2][3] - Market Penetration: The company’s liquid cooling connectors are already in mass production for applications in rail transit, military, and mining sectors, showcasing its high-end manufacturing capabilities [2][3] - AI Server Market Demand: There is a rising demand for liquid cooling solutions due to increased power consumption in AI servers, highlighting a critical market need [2][3] - Market Size Estimation: For overseas markets, a single AI server (with 72+36 cores) requires 108 pairs of connectors, with metal connectors priced at $100 each in Europe and the US. This translates to a server value of $10,000, leading to an estimated market space of approximately 30 billion [3] - Future Profit Projections: The company aims for a 20% market share in the long term, with a projected net profit margin of 15%, potentially adding 900 million in profits [3] Other Important but Possibly Overlooked Content - High-End Manufacturing Experience: The company leverages its experience in high-end manufacturing to quickly penetrate the AI server market, which may not be immediately apparent but is crucial for understanding its competitive advantage [2][3]