The domestic liquid cooling industry is currently exhibiting two major trends: accelerated mergers and acquisitions (M&A) and active private placements by listed companies to raise funds. Industry insiders predict that with the growth in computing power demand and the acceleration of data center construction, liquid cooling technology will become a 'mandatory standard,' presenting significant development opportunities for the market. Domestic listed companies are increasing their investments in liquid cooling capacity expansion through private placements, with several such projects receiving approval since the beginning of 2026. Meanwhile, these companies are also actively engaging in M&A activities to enter the liquid cooling sector.
