Entering leading industrial chains such as Nvidia, Google, Meta, Amazon, AMD, and Huawei, Jintian (601609.SH)'s high-end computing power copper exceeded expectations in the first half of the year

The Zhitong Finance App learned that on the evening of August 18, Jintian Co., Ltd. (601609.SH) disclosed the 2026 semi-annual report. During the reporting period, Jintian Co., Ltd. achieved main business revenue of 79.30 billion yuan, an increase of 33.74% over the previous year; achieved net profit attributable to shareholders of listed companies of 442 million yuan, an increase of 18.44% over the previous year, and the profit level continued to rise.

During the reporting period, the results of Jintian Co., Ltd.'s high-end strategy continued to be realized. Copper sales growth in the AI computing power sector was outstanding and exceeded expectations, becoming the main engine driving profit growth.

AI computing power copper sales have increased dramatically

In the first half of 2026, global AI computing power infrastructure continued to boom, and liquid-cooled cooling and high-voltage DC power supply schemes accelerated penetration, driving demand for high-end copper to exceed expectations.

Jintian Co., Ltd. has formed two series of products, “Copper Substrates for Computing Power Cooling” and “Copper Substrates for Racks”. With long-term production experience of computing power copper, product pre-research and iterative capabilities, and large-scale delivery capabilities, etc., it has successfully entered many domestic and foreign AI computing power industry supply chain systems.

During the reporting period, sales of copper materials in the chip semiconductor sector were 26,000 tons, an increase of 22%; of these, sales of copper substrates in the computing power cooling sector were 12,700 tons, a year-on-year growth rate of 68%; and sales of copper substrates for rack busbars were 3,185 tons, a year-on-year increase of 94%.

During the reporting period, Jintian Co., Ltd. had a production capacity of 35,000 tons of copper bars in the chip semiconductor cooling field and 15,000 tons of copper bars in the rack bus field. With the advancement of Vietnam's “30,000 tons of liquid-cooled heat dissipation and high-precision copper row production project for rack busbars” and the Guangdong copper row expansion project, it is estimated that in the first half of 2027, Jintian Co., Ltd.'s copper plate production capacity in the chip semiconductor cooling field can reach 70,000 tons, and the production capacity of copper bars in the rack bus field can reach 30,000 tons.

Comprehensive coverage of the supply chain of the main enterprises in the global chain

Jintian Co., Ltd. began supplying copper materials for the NVIDIA (NVIDIA) H100 project and participated in the development of new technologies and products. NVIDIA (NVIDIA) GB200, GB300 and other compatible cabinet related products continue to be supplied, and its position in the industry continues to deepen; the company has now entered the AI computing power industry supply chain such as NVIDIA (NVIDIA), META, Amazon Cloud Technology (AWS), and Huawei. Since May of this year, the company has been supplying NVIDIA (NVIDIA) Vera Rubin and Chaowei Semiconductor (AMD) MI450 projects in batches.

In the field of frame bus copper substrates, the company has significant advantages in the two major products of “liquid-cooled rack bus copper substrate” and “800V HVDC rack bus copper substrate” with advantages such as cross-sectional design ability and component control ability. Through the supply chain of leading connectivity system companies such as Amphenol (Amphenol) and TE Connectivity (TE Connectivity), the company is able to supply conductive copper materials to AI computing power companies, adapting to the 1400A rack bus copper requirements used by Nvidia GB200/GB300, NVIDIA (NVIDIA) Vera Rubin, AMD Helios, etc., and the horizontal rack bus (HBB) project for META 800V wide body cabinets (ORW).

In addition, the company's green high-end recycled copper series products rely on the dual advantages of “high heat dissipation performance” and “green and low carbon”. Related product brands have entered the Google (Google) AI computing power supply chain and are currently in the mass production and supply stage.