Western Securities: It is expected to enter a key period of industrialization and volume production in liquid cooling in 26 years. It is recommended to pay attention to CDU liquid cooling pumps and cold water units.

Western Securities issued a research report stating that as an important power component in liquid cooling temperature control systems, there are currently few companies in China and abroad specializing in the development of liquid cooling pumps for IDC. Secondary cold sources also benefit from the acceleration of AI data center construction. With chip power gradually breaking through the air cooling limit, and NVIDIA/ASIC high-power chips gradually shipping, the firm believes that 2026 is expected to enter a key node for mass production of liquid cooling industrialization, and recommends focusing on CDU liquid cooling pumps and key links such as chiller units. Recommended targets to pay attention to: Feilong Shares, Binglun Environment.