Yinlun Co., Ltd.: Energy Storage Business Develops Rapidly, Product Layout Focuses on Liquid Cooling Plates, Liquid Cooling Air Conditioning and Other Core Categories

On March 18, Yinlun Co., Ltd. (002126.SZ) stated during investor relations activities that the automotive business, as the company’s core segment, is expected to maintain steady growth overall this year. Among them, passenger car business is expected to grow year-on-year, driven mainly by the continuous increase in supporting shares from several leading overseas customers and further expansion of supporting product categories; high-value categories such as thermal management integrated modules are achieving large-scale mass production among key clients, contributing incremental revenue. In the commercial vehicle and non-road machinery sectors, industry prosperity remains high, and the full-year outlook is for steady year-on-year growth.

Regarding the strategic positioning and customer expansion of the power energy sector, the company pointed out that the power energy segment is one of the most flexible parts of the company’s business structure and is expected to rapidly develop into an important source of revenue and profit growth in the coming years, with broad growth potential. In terms of products, the company mainly focuses on large-capacity generator cooling modules, gas generator exhaust emission treatment, various heat exchangers, and other core categories. Currently, these products have achieved mass production with several top international clients, and the strategic value of the company’s international layout continues to be highlighted; at the same time, overseas capacity deployment is steadily advancing, with the potential to cooperate with more internationally renowned clients in the future, further consolidating market advantages.

Regarding the overall development of the digital energy sector this year, the company stated that the digital energy (AI liquid cooling) segment is expected to see rapid growth. This sector focuses on data center liquid cooling, energy storage, charging and swapping, and low-altitude economy, with all sub-businesses making rapid breakthroughs. Business scale continues to expand, and the company will continue to invest in core technology R&D and market expansion to further enhance profitability and industry influence.

On the progress of the data center liquid cooling business, the company explained that this is a core subfield within the digital energy segment, with orderly progress both domestically and internationally. In overseas markets, the company has established cooperation with several large CSP cloud providers and server manufacturers; related products are at different stages of design and validation, with active efforts to promote mass production in the future. Domestically, some data center server-related projects have already been implemented.

Regarding the layout and advancement of the energy storage sector, the company stated that benefiting from the sustained prosperity of the energy storage industry, its energy storage business continues to grow rapidly. The product portfolio focuses on liquid cooling plates, liquid cooling air conditioners, and other core categories, precisely matching industry needs. Regarding clients, the company has established stable supporting cooperation with leading industry customers, with smooth product delivery and active market expansion.

On the progress and business model of geothermal projects, the company introduced that the geothermal business is mainly conducted through a joint venture with KaiShan Co., Ltd., called KaiShan Yinlun, which is included in the company’s consolidated financial statements. The main business of this subsidiary involves various heat exchangers, liquid cooling systems, and other products with high value and strong market competitiveness. Currently, the business is progressing in an orderly manner based on the cooperation resources of both parties, and the company will continue to explore the market potential in the geothermal field to promote business development.