608 lines
34 KiB
HTML
608 lines
34 KiB
HTML
<!DOCTYPE html>
|
||
<html lang="zh-CN" data-theme="night">
|
||
|
||
<head>
|
||
<meta charset="UTF-8">
|
||
<meta name="viewport" content="width=device-width, initial-scale=1.0">
|
||
<title>微泵液冷 | 深度行研报告</title>
|
||
|
||
<!-- Tailwind CSS & DaisyUI -->
|
||
<link href="https://cdn.jsdelivr.net/npm/daisyui@4.10.2/dist/full.min.css" rel="stylesheet" type="text/css" />
|
||
<script src="https://cdn.tailwindcss.com"></script>
|
||
|
||
<!-- Alpine.js -->
|
||
<script defer src="https://cdn.jsdelivr.net/npm/alpinejs@3.x.x/dist/cdn.min.js"></script>
|
||
|
||
<!-- ECharts -->
|
||
<script src="https://cdn.jsdelivr.net/npm/echarts@5.5.0/dist/echarts.min.js"></script>
|
||
|
||
<!-- Google Fonts -->
|
||
<link rel="preconnect" href="https://fonts.googleapis.com">
|
||
<link rel="preconnect" href="https://fonts.gstatic.com" crossorigin>
|
||
<link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700&family=Orbitron:wght@400;700&display=swap" rel="stylesheet">
|
||
|
||
<style>
|
||
:root {
|
||
--glow-color: hsl(193, 89%, 60%);
|
||
}
|
||
|
||
body {
|
||
font-family: 'Inter', sans-serif;
|
||
background-color: #020418;
|
||
background-image:
|
||
radial-gradient(ellipse 80% 80% at 50% -20%, rgba(30, 41, 59, 0.3), rgba(255, 255, 255, 0)),
|
||
radial-gradient(at 20% 100%, hsla(253, 56%, 35%, 0.3), transparent 50%),
|
||
radial-gradient(at 80% 0%, hsla(193, 89%, 40%, 0.3), transparent 50%),
|
||
radial-gradient(at 80% 100%, hsla(28, 80%, 50%, 0.3), transparent 50%);
|
||
color: #e2e8f0;
|
||
}
|
||
|
||
.font-orbitron {
|
||
font-family: 'Orbitron', sans-serif;
|
||
}
|
||
|
||
.glass {
|
||
background: rgba(15, 23, 42, 0.4); /* slate-900 with alpha */
|
||
backdrop-filter: blur(24px);
|
||
--tw-shadow: 0 0 #0000, 0 0 #0000, 0 10px 15px -3px rgba(0, 0, 0, 0.1), 0 4px 6px -2px rgba(0, 0, 0, 0.05);
|
||
--tw-shadow-colored: 0 0 #0000, 0 0 #0000, 0 10px 15px -3px var(--tw-shadow-color), 0 4px 6px -2px var(--tw-shadow-color);
|
||
box-shadow: 0 0 0 1px rgba(255, 255, 255, 0.05) inset, var(--tw-shadow);
|
||
border-radius: 1.5rem;
|
||
}
|
||
|
||
.glow-text {
|
||
color: var(--glow-color);
|
||
text-shadow: 0 0 7px var(--glow-color), 0 0 10px var(--glow-color), 0 0 21px var(--glow-color);
|
||
}
|
||
|
||
.bento-grid {
|
||
display: grid;
|
||
grid-template-columns: repeat(12, 1fr);
|
||
grid-auto-rows: auto;
|
||
gap: 1.5rem; /* 24px */
|
||
}
|
||
|
||
.bento-item {
|
||
padding: 1.5rem 2rem;
|
||
display: flex;
|
||
flex-direction: column;
|
||
justify-content: start;
|
||
}
|
||
|
||
.bento-item h3 {
|
||
font-size: 1.25rem;
|
||
font-weight: 600;
|
||
color: #f8fafc;
|
||
margin-bottom: 1rem;
|
||
position: relative;
|
||
padding-left: 1.25rem;
|
||
}
|
||
|
||
.bento-item h3::before {
|
||
content: '';
|
||
position: absolute;
|
||
left: 0;
|
||
top: 50%;
|
||
transform: translateY(-50%);
|
||
width: 4px;
|
||
height: 80%;
|
||
background-color: var(--glow-color);
|
||
border-radius: 2px;
|
||
box-shadow: 0 0 8px var(--glow-color);
|
||
}
|
||
|
||
.key-value {
|
||
display: flex;
|
||
justify-content: space-between;
|
||
align-items: center;
|
||
padding: 0.5rem 0;
|
||
border-bottom: 1px solid rgba(255, 255, 255, 0.1);
|
||
}
|
||
.key-value .key {
|
||
color: #94a3b8; /* slate-400 */
|
||
}
|
||
.key-value .value {
|
||
color: #f1f5f9; /* slate-100 */
|
||
font-weight: 600;
|
||
}
|
||
.key-value .value.highlight {
|
||
color: #f43f5e; /* rose-500 */
|
||
}
|
||
|
||
.custom-tab {
|
||
padding: 0.5rem 1rem;
|
||
cursor: pointer;
|
||
transition: all 0.3s ease;
|
||
border-bottom: 2px solid transparent;
|
||
color: #94a3b8;
|
||
}
|
||
.custom-tab.active {
|
||
color: var(--glow-color);
|
||
border-bottom-color: var(--glow-color);
|
||
}
|
||
|
||
.stock-table {
|
||
border-collapse: separate;
|
||
border-spacing: 0;
|
||
width: 100%;
|
||
}
|
||
.stock-table th, .stock-table td {
|
||
padding: 1rem 1.5rem;
|
||
text-align: left;
|
||
border-bottom: 1px solid rgba(255, 255, 255, 0.1);
|
||
}
|
||
.stock-table th {
|
||
color: #cbd5e1; /* slate-300 */
|
||
font-weight: 600;
|
||
}
|
||
.stock-table tbody tr:hover {
|
||
background-color: rgba(30, 41, 59, 0.5);
|
||
}
|
||
.stock-table td .stock-name {
|
||
font-weight: 600;
|
||
color: #f8fafc;
|
||
}
|
||
.stock-table td .stock-code {
|
||
font-size: 0.875rem;
|
||
color: #94a3b8;
|
||
}
|
||
|
||
</style>
|
||
</head>
|
||
|
||
<body class="min-h-screen p-4 sm:p-8 lg:p-12">
|
||
|
||
<div class="max-w-screen-2xl mx-auto">
|
||
|
||
<!-- Header -->
|
||
<header class="text-center mb-12">
|
||
<h1 class="font-orbitron text-4xl sm:text-5xl md:text-6xl font-bold tracking-wider glow-text">
|
||
微泵液冷
|
||
</h1>
|
||
<p class="mt-4 text-xl text-slate-300">Micro-Pump Liquid Cooling | 概念深度研究报告</p>
|
||
<p class="mt-6 text-xs text-slate-500 max-w-2xl mx-auto">
|
||
北京价值前沿科技有限公司 AI投研agent：“价小前投研” 进行投研呈现，本报告为AI合成数据，投资需谨慎。
|
||
</p>
|
||
</header>
|
||
|
||
<!-- Bento Grid Layout -->
|
||
<div class="bento-grid">
|
||
|
||
<!-- Insight Core View -->
|
||
<div class="bento-item glass" style="grid-column: span 12; md:grid-column: span 8; grid-row: span 2;">
|
||
<h3>核心观点摘要</h3>
|
||
<p class="text-slate-300 leading-relaxed">
|
||
“微泵液冷”是AI算力需求驱动下，散热技术从被动向主动升级的必然趋势。当前概念存在两大分支：一是已进入商业化加速期的<strong class="text-sky-300">服务器/工业液冷</strong>，二是处于商业化前夜、想象空间巨大的<strong class="text-purple-400">消费电子微泵液冷</strong>。
|
||
<br><br>
|
||
市场短期热情主要聚焦于后者，但概念尚处<strong class="text-amber-400">主题叙事阶段</strong>，核心标的业绩兑现仍需等待 <strong class="text-rose-400">2025年Q4</strong> 的量产节点和 <strong class="text-rose-400">2026年</strong> 的市场渗透情况。
|
||
</p>
|
||
<div class="mt-6 space-y-3">
|
||
<div class="key-value">
|
||
<span class="key">核心驱动力</span>
|
||
<span class="value">功耗瓶颈下的技术迭代</span>
|
||
</div>
|
||
<div class="key-value">
|
||
<span class="key">技术优势</span>
|
||
<span class="value">高效率主动散热，功耗降低90%</span>
|
||
</div>
|
||
<div class="key-value">
|
||
<span class="key">市场阶段</span>
|
||
<span class="value text-amber-400">主题叙事，预期发酵</span>
|
||
</div>
|
||
<div class="key-value">
|
||
<span class="key">关键验证节点</span>
|
||
<span class="value text-rose-400">25Q4量产 / 26年渗透</span>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- Timeline & Catalysts -->
|
||
<div class="bento-item glass" style="grid-column: span 12; md:grid-column: span 4; grid-row: span 2;">
|
||
<h3>关键催化与时间轴</h3>
|
||
<ul class="space-y-4 mt-2">
|
||
<li class="flex items-start">
|
||
<div class="w-4 h-4 rounded-full bg-slate-600 mt-1 mr-4 flex-shrink-0"></div>
|
||
<div>
|
||
<p class="font-semibold text-slate-200">宏观背景预热 (2023-至今)</p>
|
||
<p class="text-sm text-slate-400">AI服务器GPU功耗激增 (Rubin芯片~2300W)，液冷成必选项。</p>
|
||
</div>
|
||
</li>
|
||
<li class="flex items-start">
|
||
<div class="w-4 h-4 rounded-full bg-slate-500 mt-1 mr-4 flex-shrink-0"></div>
|
||
<div>
|
||
<p class="font-semibold text-slate-200">首次尝试 (2023)</p>
|
||
<p class="text-sm text-slate-400">华为发布“微泵液冷手机壳”，完成市场初步概念教育。</p>
|
||
</div>
|
||
</li>
|
||
<li class="flex items-start">
|
||
<div class="w-4 h-4 rounded-full bg-sky-500 ring-2 ring-sky-500/50 mt-1 mr-4 flex-shrink-0"></div>
|
||
<div>
|
||
<p class="font-semibold text-sky-300">核心催化 (2025.06)</p>
|
||
<p class="text-sm text-slate-400">艾为电子、南芯科技发布压电微泵驱动芯片，引爆市场。</p>
|
||
</div>
|
||
</li>
|
||
<li class="flex items-start">
|
||
<div class="w-4 h-4 rounded-full border-2 border-dashed border-rose-400 mt-1 mr-4 flex-shrink-0"></div>
|
||
<div>
|
||
<p class="font-semibold text-rose-400">预期量产 (2025 Q4)</p>
|
||
<p class="text-sm text-slate-400">国产驱动芯片计划批量量产，首个关键验证节点。</p>
|
||
</div>
|
||
</li>
|
||
<li class="flex items-start">
|
||
<div class="w-4 h-4 rounded-full border-2 border-dashed border-purple-400 mt-1 mr-4 flex-shrink-0"></div>
|
||
<div>
|
||
<p class="font-semibold text-purple-400">预期放量元年 (2026)</p>
|
||
<p class="text-sm text-slate-400">头部手机厂商高端机型有望正式搭载，市场渗透开启。</p>
|
||
</div>
|
||
</li>
|
||
</ul>
|
||
</div>
|
||
|
||
<!-- Expectation Gaps -->
|
||
<div class="bento-item glass" style="grid-column: span 12; md:grid-column: span 5; grid-row: span 2;">
|
||
<h3>预期差分析：宏大叙事 vs 商业现实</h3>
|
||
<ul class="list-disc list-inside text-slate-300 space-y-4 mt-2">
|
||
<li>
|
||
<strong class="text-amber-400">营收兑现的时间差:</strong><br>
|
||
消费电子端明确量产为<strong class="text-white">2025 Q4</strong>，未来2-3个季度无收入贡献。艾为电子公告提示“大批量销售存在不确定性”。
|
||
</li>
|
||
<li>
|
||
<strong class="text-rose-400">业务结构的纯度差 (典型案例):</strong><br>
|
||
热炒标的<strong class="text-white">大元泵业</strong>，25Q1数据中心液冷收入仅<strong class="text-rose-500">160万元 (占总营收0.43%)</strong>，其液冷业务大头(78%)来自新能源车。市场给予AI龙头估值，但业务现实存在巨大偏差。
|
||
</li>
|
||
<li>
|
||
<strong class="text-sky-400">商业进展的阶段差:</strong><br>
|
||
新闻“已在导入” vs 公司公告“已完成验证测试”。从测试到批量下单仍有较长流程和不确定性，市场可能过于乐观。
|
||
</li>
|
||
</ul>
|
||
</div>
|
||
|
||
<!-- Supporting Data & Market Size -->
|
||
<div x-data="{ tab: 'news' }" class="bento-item glass" style="grid-column: span 12; md:grid-column: span 7; grid-row: span 2;">
|
||
<h3>多维数据融合 & 市场空间</h3>
|
||
<div class="border-b border-slate-700 mb-4">
|
||
<nav class="-mb-px flex space-x-4" aria-label="Tabs">
|
||
<a @click="tab = 'news'" :class="{ 'active': tab === 'news' }" class="custom-tab">新闻</a>
|
||
<a @click="tab = 'roadshow'" :class="{ 'active': tab === 'roadshow' }" class="custom-tab">路演</a>
|
||
<a @click="tab = 'report'" :class="{ 'active': tab === 'report' }" class="custom-tab">研报</a>
|
||
</nav>
|
||
</div>
|
||
<div class="text-sm text-slate-300 space-y-2 flex-grow">
|
||
<div x-show="tab === 'news'">
|
||
<p><strong>核心动态:</strong> 艾为电子、南芯科技相继发布微泵液冷驱动芯片，推动手机、AI端侧散热变革。</p>
|
||
<p><strong>技术优势:</strong> 主动散热，效果优于VC，功耗较风冷降低90%。</p>
|
||
<p><strong>价值量:</strong> 单机液冷价值量约<strong class="text-white">50元</strong>，AI手机最大增量环节。驱动芯片售价2-3美元。</p>
|
||
<p><strong>客户进展:</strong> HW、小米、VIVO等头部厂商已在导入验证，Mate80等机型已有搭配液冷机壳传闻。</p>
|
||
</div>
|
||
<div x-show="tab === 'roadshow'" style="display: none;">
|
||
<p><strong>大元泵业:</strong> 2024年液冷业务收入<strong class="text-white">9000万</strong>，其中数据中心仅占<strong class="text-rose-400">3000万</strong>。25Q1数据中心收入<strong class="text-rose-400">160万</strong>。业务大头为新能源车(78%)。</p>
|
||
<p><strong>南方泵业:</strong> 2023年液冷泵销售额<strong class="text-white">2亿元</strong>，但终端场景难追踪。</p>
|
||
<p><strong>飞龙股份:</strong> 聚焦液冷泵，已定点国内H客户、英伟达电控系统，预期25年液冷贡献1.5-2亿利润。</p>
|
||
</div>
|
||
<div x-show="tab === 'report'" style="display: none;">
|
||
<p><strong>消费电子端:</strong> 26年有望成微泵液冷放量“元年”，热效率提升可达<strong class="text-white">3倍以上</strong>。</p>
|
||
<p><strong>艾为/南芯:</strong> 产品性能对标海外Top1友商，驱动电压超<strong class="text-white">180Vpp</strong>，功耗低，已在客户验证。</p>
|
||
<p><strong>AI服务器端:</strong> 液冷渗透率有望从B200~10%提升至GB300~90%，27年市场规模有望破<strong class="text-purple-400">千亿</strong>。</p>
|
||
</div>
|
||
</div>
|
||
<div id="marketSizeChart" class="w-full h-48 mt-4"></div>
|
||
</div>
|
||
|
||
<!-- Industry Chain & Key Players -->
|
||
<div x-data="{ tab: 'chain' }" class="bento-item glass" style="grid-column: span 12; grid-row: span 3;">
|
||
<h3>产业链图谱与核心公司剖析</h3>
|
||
<div class="border-b border-slate-700 mb-4">
|
||
<nav class="-mb-px flex space-x-4" aria-label="Tabs">
|
||
<a @click="tab = 'chain'" :class="{ 'active': tab === 'chain' }" class="custom-tab">产业链图谱</a>
|
||
<a @click="tab = 'player1'" :class="{ 'active': tab === 'player1' }" class="custom-tab">领导者</a>
|
||
<a @click="tab = 'player2'" :class="{ 'active': tab === 'player2' }" class="custom-tab">追赶者</a>
|
||
<a @click="tab = 'player3'" :class="{ 'active': tab === 'player3' }" class="custom-tab">被错配方</a>
|
||
</nav>
|
||
</div>
|
||
<div class="mt-4 flex-grow">
|
||
<div x-show="tab === 'chain'">
|
||
<div class="grid grid-cols-1 md:grid-cols-3 gap-6 text-sm">
|
||
<div class="p-4 rounded-lg bg-slate-900/50">
|
||
<h4 class="font-bold text-sky-300 text-lg mb-2">上游：核心元器件</h4>
|
||
<p><strong class="text-white">驱动芯片 (高壁垒):</strong> 艾为电子、南芯科技</p>
|
||
<p><strong class="text-white">压电陶瓷/材料:</strong> 微泵动力源</p>
|
||
</div>
|
||
<div class="p-4 rounded-lg bg-slate-900/50">
|
||
<h4 class="font-bold text-purple-300 text-lg mb-2">中游：模组与集成</h4>
|
||
<p><strong class="text-white">微泵模组:</strong> 核心集成件</p>
|
||
<p><strong class="text-white">液冷板/膜片:</strong> 飞荣达、日丰股份(网传)</p>
|
||
<p><strong class="text-white">传统散热组件 (融合):</strong> 智动力、领益智造</p>
|
||
</div>
|
||
<div class="p-4 rounded-lg bg-slate-900/50">
|
||
<h4 class="font-bold text-amber-300 text-lg mb-2">下游：终端应用</h4>
|
||
<p><strong class="text-white">智能手机:</strong> 华为、小米、VIVO等</p>
|
||
<p><strong class="text-white">AIoT设备:</strong> AI PC, AR/VR, 无人机</p>
|
||
</div>
|
||
</div>
|
||
<p class="mt-6 text-slate-400"><strong>投资价值最高环节：</strong>上游驱动芯片设计。原因：技术壁垒高、纯增量市场、确定性强（无论下游谁胜出都将受益）。</p>
|
||
</div>
|
||
<div x-show="tab === 'player1'" style="display: none;">
|
||
<h4 class="text-lg font-semibold text-slate-100">艾为电子、南芯科技 (逻辑最纯粹的领导者)</h4>
|
||
<ul class="list-disc list-inside mt-2 text-slate-300 space-y-2">
|
||
<li><strong class="text-green-400">优势:</strong> 卡位价值最高的<strong class="text-white">驱动芯片</strong>环节，纯增量市场，具备国产替代逻辑。</li>
|
||
<li><strong class="text-sky-400">进展:</strong> 产品已发布并进入客户验证，量产时间表明确 (2025 Q4)。</li>
|
||
<li><strong class="text-rose-400">风险:</strong> 客户导入周期长，终端市场接受度不确定，面临新品推广失败风险。</li>
|
||
</ul>
|
||
</div>
|
||
<div x-show="tab === 'player2'" style="display: none;">
|
||
<h4 class="text-lg font-semibold text-slate-100">飞荣达 (转型中的追赶者)</h4>
|
||
<ul class="list-disc list-inside mt-2 text-slate-300 space-y-2">
|
||
<li><strong class="text-green-400">优势:</strong> 苹果、华为核心散热供应商，客户关系深厚，易于导入新产品。</li>
|
||
<li><strong class="text-sky-400">进展:</strong> 明确配合客户研发柔性VC/微泵液冷，已完成打样并通过部分大客户认证。</li>
|
||
<li><strong class="text-rose-400">风险:</strong> 传统散热业务占比较高，存在左右手互搏可能，新技术积累和成本控制能力待验证。</li>
|
||
</ul>
|
||
</div>
|
||
<div x-show="tab === 'player3'" style="display: none;">
|
||
<h4 class="text-lg font-semibold text-slate-100">大元泵业 (被市场“错配”的关联方)</h4>
|
||
<ul class="list-disc list-inside mt-2 text-slate-300 space-y-2">
|
||
<li><strong class="text-green-400">优势:</strong> 在工业液冷泵（屏蔽泵）领域技术积累深厚，受益于储能、新能源增长。</li>
|
||
<li><strong class="text-rose-400">数据证伪:</strong> 路演数据显示其<strong class="text-white">AI数据中心业务收入占比极低 (0.43%)</strong>，与市场赋予的“AI液冷核心股”标签严重不符。</li>
|
||
<li><strong class="text-amber-400">结论:</strong> 股价强劲表现更多是市场对“液冷”标签的情绪化炒作，而非基本面驱动。</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- Risks -->
|
||
<div class="bento-item glass" style="grid-column: span 12; md:grid-column: span 6;">
|
||
<h3>潜在风险与挑战</h3>
|
||
<ul class="list-decimal list-inside text-slate-300 space-y-3 mt-2">
|
||
<li><strong class="text-rose-400">技术风险:</strong> 长期运行可靠性、噪音控制、防泄漏问题，在消费电子产品中仍需大规模验证。</li>
|
||
<li><strong class="text-amber-400">商业化风险:</strong>
|
||
<ul class="list-disc list-inside ml-4">
|
||
<li><strong class="text-white">成本:</strong> 单机~50元成本增加，OEM厂商采用意愿和消费者支付意愿存疑。</li>
|
||
<li><strong class="text-white">必要性:</strong> 是否存在更低成本的替代散热方案挤压其市场空间。</li>
|
||
</ul>
|
||
</li>
|
||
<li><strong class="text-sky-400">竞争风险:</strong> 海外成熟厂商可能通过降价竞争，传统散热厂商亦在布局，行业竞争或迅速加剧。</li>
|
||
<li><strong class="text-purple-400">信息交叉验证风险:</strong> 市场情绪与公司基本面脱节 (如大元泵业)，新闻用词与公告用词存在关键差异，暗示落地进程可能不及预期。</li>
|
||
</ul>
|
||
</div>
|
||
|
||
<!-- Conclusion -->
|
||
<div class="bento-item glass" style="grid-column: span 12; md:grid-column: span 6;">
|
||
<h3>综合结论与投资启示</h3>
|
||
<p class="text-slate-300 mb-4">
|
||
当前微泵液冷概念正处<strong class="text-amber-400">从0到1的主题炒作和预期发酵阶段</strong>，背后有坚实的产业逻辑。但从主题走向基本面驱动，需经历<strong class="text-rose-400">2025 Q4量产</strong>和<strong class="text-rose-400">2026年市场渗透</strong>两大关键考验，不确定性较高。
|
||
</p>
|
||
<h4 class="text-base font-semibold text-slate-100 mb-2">需重点跟踪验证的关键指标:</h4>
|
||
<ul class="text-sm text-slate-400 space-y-2">
|
||
<li><strong>1. 核心公司营收:</strong> 26Q1起，跟踪艾为/南芯驱动芯片的实际出货量和收入。</li>
|
||
<li><strong>2. 终端渗透率:</strong> 跟踪旗舰机型中搭载该技术的比例及销量。</li>
|
||
<li><strong>3. 价值链ASP与毛利率:</strong> 关注价格战是否过早开启。</li>
|
||
<li><strong>4. 工业泵公司数据:</strong> 单独拆分并持续跟踪其数据中心业务收入，验证预期。</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- Stock Tables -->
|
||
<div class="mt-12">
|
||
<h2 class="font-orbitron text-3xl sm:text-4xl font-bold text-center mb-8 glow-text">核心标的与产业链公司梳理</h2>
|
||
|
||
<!-- Table 1: Micro-Pump Liquid Cooling -->
|
||
<div class="glass p-4 sm:p-6 mb-8">
|
||
<h3 class="text-xl font-semibold mb-4 text-slate-100 pl-2 border-l-4 border-sky-400">微泵液冷 (核心概念)</h3>
|
||
<div class="overflow-x-auto">
|
||
<table class="stock-table">
|
||
<thead>
|
||
<tr>
|
||
<th>股票名称</th>
|
||
<th>核心逻辑/入选理由</th>
|
||
<th>其他标签</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr>
|
||
<td>
|
||
<div class="stock-name">艾为电子</div>
|
||
<a href="https://valuefrontier.cn/company?scode=688798" target="_blank" class="stock-code hover:text-sky-400 transition-colors">688798.SH</a>
|
||
</td>
|
||
<td>成功研发180Vpp压电微泵液冷驱动产品，计划于2025Q4量产，已在多家客户验证。</td>
|
||
<td>微泵液冷</td>
|
||
</tr>
|
||
<tr>
|
||
<td>
|
||
<div class="stock-name">南芯科技</div>
|
||
<a href="https://valuefrontier.cn/company?scode=688484" target="_blank" class="stock-code hover:text-sky-400 transition-colors">688484.SH</a>
|
||
</td>
|
||
<td>推出190Vpp压电驱动芯片SC3601，用于手机液冷散热，已在多家客户导入验证。</td>
|
||
<td>微泵液冷</td>
|
||
</tr>
|
||
<tr>
|
||
<td>
|
||
<div class="stock-name">飞荣达</div>
|
||
<a href="https://valuefrontier.cn/company?scode=300602" target="_blank" class="stock-code hover:text-sky-400 transition-colors">300602.SZ</a>
|
||
</td>
|
||
<td>苹果/华为供应商，配合客户需求研发柔性VC/微泵液冷产品，已完成打样认证。</td>
|
||
<td>微泵液冷</td>
|
||
</tr>
|
||
<tr>
|
||
<td>
|
||
<div class="stock-name">日丰股份</div>
|
||
<a href="https://valuefrontier.cn/company?scode=002953" target="_blank" class="stock-code hover:text-sky-400 transition-colors">002953.SZ</a>
|
||
</td>
|
||
<td>网传是华为“微泵液冷手机壳”的液冷板主力供应商。</td>
|
||
<td>微泵液冷</td>
|
||
</tr>
|
||
<tr>
|
||
<td>
|
||
<div class="stock-name">智动力</div>
|
||
<a href="https://valuefrontier.cn/company?scode=300686" target="_blank" class="stock-code hover:text-sky-400 transition-colors">300686.SZ</a>
|
||
</td>
|
||
<td>研发的VC超薄均热板采用液冷技术，打入三星5G手机液冷散热模组。</td>
|
||
<td>微泵液冷</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- Table 2: Broader Liquid Cooling / Micro Heat Dissipation -->
|
||
<div class="glass p-4 sm:p-6 mb-8">
|
||
<h3 class="text-xl font-semibold mb-4 text-slate-100 pl-2 border-l-4 border-purple-400">相关散热及涨幅异动公司</h3>
|
||
<div class="overflow-x-auto">
|
||
<table class="stock-table">
|
||
<thead>
|
||
<tr>
|
||
<th>股票名称</th>
|
||
<th>核心逻辑/入选理由</th>
|
||
<th>标签/异动日期</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr>
|
||
<td>
|
||
<div class="stock-name">大元泵业</div>
|
||
<a href="https://valuefrontier.cn/company?scode=603757" target="_blank" class="stock-code hover:text-sky-400 transition-colors">603757.SH</a>
|
||
</td>
|
||
<td>液冷服务器概念关注度高，但公司公告数据中心液冷业务占比极小(0.43%)。</td>
|
||
<td>涨幅异动: 2025-08-13</td>
|
||
</tr>
|
||
<tr>
|
||
<td>
|
||
<div class="stock-name">南方泵业</div>
|
||
<a href="https://valuefrontier.cn/company?scode=300145" target="_blank" class="stock-code hover:text-sky-400 transition-colors">300145.SZ</a>
|
||
</td>
|
||
<td>液冷服务器概念活跃，公司泵产品可用于液冷领域，2024年销售额提升。</td>
|
||
<td>涨幅异动: 2025-08-07</td>
|
||
</tr>
|
||
<tr>
|
||
<td>
|
||
<div class="stock-name">泰福泵业</div>
|
||
<a href="https://valuefrontier.cn/company?scode=300992" target="_blank" class="stock-code hover:text-sky-400 transition-colors">300992.SZ</a>
|
||
</td>
|
||
<td>市场传闻涉及“华为手机微泵液冷业务”，公司液冷泵业务已有基础。</td>
|
||
<td>涨幅异动: 2025-08-19</td>
|
||
</tr>
|
||
<tr>
|
||
<td>
|
||
<div class="stock-name">领益智造</div>
|
||
<a href="https://valuefrontier.cn/company?scode=002600" target="_blank" class="stock-code hover:text-sky-400 transition-colors">002600.SZ</a>
|
||
</td>
|
||
<td>VC均热板模组市占率国内第一，具备水冷模组研发生产能力。</td>
|
||
<td>液冷/微型散热</td>
|
||
</tr>
|
||
<tr>
|
||
<td>
|
||
<div class="stock-name">中石科技</div>
|
||
<a href="https://valuefrontier.cn/company?scode=300684" target="_blank" class="stock-code hover:text-sky-400 transition-colors">300684.SZ</a>
|
||
</td>
|
||
<td>苹果核心供应商，参与其每一代机型的整机散热方案制定，导热材料营收A股第二。</td>
|
||
<td>液冷/微型散热</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
</div>
|
||
</div>
|
||
|
||
<script>
|
||
document.addEventListener('DOMContentLoaded', function () {
|
||
var chartDom = document.getElementById('marketSizeChart');
|
||
var myChart = echarts.init(chartDom, 'dark');
|
||
var option;
|
||
|
||
option = {
|
||
backgroundColor: 'transparent',
|
||
tooltip: {
|
||
trigger: 'axis',
|
||
axisPointer: {
|
||
type: 'cross',
|
||
label: {
|
||
backgroundColor: '#6a7985'
|
||
}
|
||
}
|
||
},
|
||
legend: {
|
||
data: ['AI液冷市场规模 (亿元)'],
|
||
textStyle: {
|
||
color: '#cbd5e1'
|
||
},
|
||
top: '5%'
|
||
},
|
||
grid: {
|
||
left: '3%',
|
||
right: '4%',
|
||
bottom: '3%',
|
||
containLabel: true
|
||
},
|
||
xAxis: [
|
||
{
|
||
type: 'category',
|
||
boundaryGap: false,
|
||
data: ['2025E', '2026E', '2027E'],
|
||
axisLine: {
|
||
lineStyle: {
|
||
color: '#475569'
|
||
}
|
||
},
|
||
axisLabel: {
|
||
color: '#94a3b8'
|
||
}
|
||
}
|
||
],
|
||
yAxis: [
|
||
{
|
||
type: 'value',
|
||
axisLine: {
|
||
show: true,
|
||
lineStyle: {
|
||
color: '#475569'
|
||
}
|
||
},
|
||
splitLine: {
|
||
lineStyle: {
|
||
color: 'rgba(71, 85, 105, 0.5)'
|
||
}
|
||
},
|
||
axisLabel: {
|
||
color: '#94a3b8'
|
||
}
|
||
}
|
||
],
|
||
series: [
|
||
{
|
||
name: 'AI液冷市场规模 (亿元)',
|
||
type: 'line',
|
||
stack: 'Total',
|
||
smooth: true,
|
||
lineStyle: {
|
||
width: 2,
|
||
color: '#7dd3fc' // sky-300
|
||
},
|
||
showSymbol: false,
|
||
areaStyle: {
|
||
opacity: 0.8,
|
||
color: new echarts.graphic.LinearGradient(0, 0, 0, 1, [
|
||
{
|
||
offset: 0,
|
||
color: 'rgba(56, 189, 248, 0.5)' // sky-400
|
||
},
|
||
{
|
||
offset: 1,
|
||
color: 'rgba(14, 116, 144, 0.1)' // cyan-700
|
||
}
|
||
])
|
||
},
|
||
emphasis: {
|
||
focus: 'series'
|
||
},
|
||
data: [354, 716, 1082]
|
||
}
|
||
]
|
||
};
|
||
|
||
option && myChart.setOption(option);
|
||
|
||
window.addEventListener('resize', myChart.resize);
|
||
});
|
||
</script>
|
||
</body>
|
||
</html> |