Grid energy storage becomes the main driver of liquid cooling demand, while AI server performance contribution is limited

Since the beginning of this year, the liquid cooling industry, as one of the main players in AI infrastructure, has seen an increase in prosperity. However, according to the reporter's analysis, among the listed companies in the liquid cooling sector, the significant performance growth primarily comes from contributions in areas such as power grids, energy storage, and new energy vehicles, while the much-anticipated AI servers and data center construction have made very limited contributions to the performance of liquid cooling server companies. Currently, the liquid cooling server concept sector includes numerous listed companies, spanning industries from electronics and computers to machinery, automotive parts manufacturers, and basic chemicals. According to Wind statistics, in the first half of 2025, among the 33 listed companies in the liquid cooling server sector, about 60% achieved year-on-year growth in net profit attributable to shareholders, with leading companies experiencing explosive performance, such as Goaland's net profit attributable to shareholders increasing by approximately 14 times, COTRAN growing over 5 times, and companies like Tongfei and Huazheng New Materials achieving double growth