According to the CITIC Construction Investment Securities Research Report, the implementation of the national standard for liquid cooling has begun an era of scale, and leading equity incentives anchor the volume of the industry. First, on the rule side, the industry moved from customization to standardization: the first national standard for cold plate liquid cooling systems for data centers was officially released and implemented on February 1, 2027. The technical requirements and test methods for core components such as cold plates and CDU were unified. Problems with incompatible interfaces and different specifications were clarified, and the industry moved from customized small batches to standardized large-scale delivery. Second, on the delivery side, the high increase in orders, the confidence of leaders in fulfillment is anchored by equity incentives, and leading companies in the industry are increasing their incentives for intensive execution combined with forward-looking indicators to strengthen the signing of new orders, which is a strong sign that order first to profit fulfillment has entered the statement verification period. Third, on the industry trend side, value restructuring evolved simultaneously with domestic substitution: the value of liquid cooling for a single cabinet rose from about 41,500 US dollars to about 55,700 US dollars for next-generation platforms, the unit price of microchannel cold plates increased 3 to 5 times, increased liquid cooling penetration rate and domestic share increased two-wheel drive, and the trend of centralized displacement, precision manufacturing, and autonomous control was clear. Currently, the industry is in the triple resonance emission period of standard unification, batch delivery, and penetration rate increase, and continues to be optimistic about the value of the liquid cooling sector configuration.

According to the CITIC Construction Investment Securities Research Report, the implementation of the national standard for liquid cooling has begun an era of scale, and leading equity incentives anchor the volume of the industry. First, on the rule side, the industry moved from customization to standardization: the first national standard for cold plate liquid cooling systems for data centers was officially released and implemented on February 1, 2027. The technical requirements and test methods for core components such as cold plates and CDU were unified. Problems with incompatible interfaces and different specifications were clarified, and the industry moved from customized small batches to standardized large-scale delivery. Second, on the delivery side, the high increase in orders, the confidence of leaders in fulfillment is anchored by equity incentives, and leading companies in the industry are increasing their incentives for intensive execution combined with forward-looking indicators to strengthen the signing of new orders, which is a strong sign that order first to profit fulfillment has entered the statement verification period. Third, on the industry trend side, value restructuring evolved simultaneously with domestic substitution: the value of liquid cooling for a single cabinet rose from about 41,500 US dollars to about 55,700 US dollars for next-generation platforms, the unit price of microchannel cold plates increased 3 to 5 times, increased liquid cooling penetration rate and domestic share increased two-wheel drive, and the trend of centralized displacement, precision manufacturing, and autonomous control was clear. Currently, the industry is in the triple resonance emission period of standard unification, batch delivery, and penetration rate increase, and continues to be optimistic about the value of the liquid cooling sector configuration.