Shandong Golden Empire Precision Machinery Technology Co., Ltd.

Jindi Co. announced on the evening of August 28 that it plans to invest in the construction of an intelligent manufacturing project for key liquid-cooling heat-exchange components and high-efficiency thermal module assemblies through its subsidiaries, with a total investment of 426 million yuan, accelerating its expansion into the liquid-cooling sector. The project consists of two sub-projects. First, subsidiary Shandong Boyuan Precision Machinery Co. will invest 210 million yuan in the Liaocheng High-tech Zone, using approximately 36,000 square meters of existing workshop space, to build annual production capacity of 15 million units of key liquid-cooling heat-exchange components and high-efficiency thermal module assemblies after commissioning. Second, subsidiary Xinsiwei Intelligent Computing Technology Guangzhou Co. will invest 216 million yuan in Guangzhou's Huadu District to carry out technical upgrades to its existing production lines, producing liquid-cooling plates, busbars, and other products. Both projects are currently in the preliminary preparation stage, with funding from self-owned or self-raised capital, and still require shareholder approval. Jindi Co. said this investment is an important arrangement to implement its strategic layout and match business development needs, enabling capacity expansion and production system upgrades, which will help meet existing customer orders and develop new customers. Previously, Jindi Co.'s wholly owned subsidiary Boyuan Intelligent Drive had increased its capital by 50 million yuan to take a controlling stake in Dongguan Chenyu Precision Components Co., entering the MIM-process liquid-cooling plate sector, with samples already passing customer verification. On the industry side, 2026 is regarded by the industry as the first year of large-scale liquid-cooling market growth. CICC forecasts that the global intelligent computing center liquid-cooling market will reach 114.7 billion yuan in 2026, up 273 percent year on year. Sealand Securities estimates that the global data center liquid-cooling market could reach 16.5 billion US dollars in 2026. TrendForce predicts that liquid-cooling penetration in AI chips will reach 53 percent in 2026. Since the beginning of this year, companies such as BYD Electronics, Alled, Qiangrui Technology, and Luxin Technology have also been increasing their liquid-cooling capacity, pushing the industry into a capacity arms race.