LY iTECH(SZ:002600)2026-03-06 02:30Company and Industry Summary Company: 立敏达 (Readore) Key Points - Production Growth: The company plans to triple its liquid cooling production by the end of the year, with a target output of 50 billion yuan. This includes 15 billion yuan already achieved in Dongguan, the launch of a sixth factory in June, and additional production in Vietnam later in the year [1][2] - Revenue Guidance: The revenue guidance for 2026 is set at 20 billion yuan, which is considered conservative. There is an expectation for production to potentially double in 2027 [1][2] - Client Engagement: Google is scheduled to audit the company's liquid cooling Busbar this month, indicating a significant client relationship [1][2] - Market Share Goals: Readore aims for a 15% market share in supplying Tyco Busbar for TPUv7, with opportunities to gradually introduce cold plates, UQD, and Manifold products [2] - Product Pricing: The price for a single Rubin liquid cooling Busbar cabinet is estimated at 200,000 USD, while CDU cabinets are priced at 100,000 USD. The company is collaborating with Linyi to advance these products [2] - Competitive Landscape: The company holds a 20%-30% market share in NV, competing against Amphenol, with final customers including Meta, AMD MI450X project, Microsoft, and Google [2] - Product Development: The Rubin cold plate is expected to ship in the second half of the year, with ongoing development of a leakage-free single-phase cold plate capable of dissipating over 2 kW of heat, currently being tested by top CSPs and NV in North America [2][3] Additional Important Information - Precision Manufacturing: The micro-channel cutting precision can reach 40 micrometers, with potential adoption by Feynman [3]