Ningbo Jintian Copper Group Co Ltd

On the evening of August 18, multiple listed companies on the Shanghai and Shenzhen stock exchanges released important announcements. Shenzhen Sunxing's wholly-owned subsidiary plans to invest in a high-end aluminum-based new materials project, with a planned capacity of 100,000 tons of high-end aluminum-based new materials and a first-phase investment of 400 million yuan to build an annual production line of 20,000 tons for demonstration. Luopu Skin plans to acquire a 51% stake in Mengying Technology to enter the equipment manufacturing sector. Jintian Copper is planning to spin off its controlling subsidiary Ketian Magnetics for listing. Yabang Chemical plans to publicly list and transfer 100% equity and creditor's rights of Daobo Chemical. In terms of performance, GigaDevice's net profit in the first half of the year was 6.857 billion yuan, up 1091.5% year-on-year; Puya Semiconductor's net profit attributable to the parent was 827 million yuan, up 1929.65%; Bluetrum's net profit was 480 million yuan, up 265.77%; Zhuzhou Smelter Group's net profit was 1.948 billion yuan, up 232.75%; Shandong Fiberglass's net profit was 29.2277 million yuan, up 234.89%; Yunhan Core City's net profit grew 207.69% year-on-year; Tunan Co., Ltd.'s net profit grew 167.92%; Tianshan Aluminum's net profit was 4.177 billion yuan, up 100.44%; China Securities's net profit was 7.639 billion yuan, up 69.44%; Haohua Energy's net profit grew 66.14%; Xingtong Co., Ltd.'s net profit grew 57.11%; Hengda New Materials' net profit grew 57.29%; Tianfu Communication's net profit grew 33.92%; Railway Track's net profit grew 32.38%; Guotai Haitong's net profit grew 28.74%; Huiquan Beer's net profit grew 23.26%; Jintian Copper's net profit grew 18.44%; Tibet Summit's net profit grew 18.03%; Focus Media's net profit grew 17.39%; Tebao Bio's net profit grew 11.37%; Jiangsu Financial Leasing's net profit grew 9.27%; Bank of Nanjing's net profit attributable to the parent was 13.65 billion yuan, up 8.17%; Rewei Co., Ltd.'s net profit grew 1.76%. China Unicom's net profit was 4.139 billion yuan, down 34.8% year-on-year; Huaneng Power International's net profit was 6.586 billion yuan, down 28.89%; Fuyao Glass's net profit was 3.97 billion yuan, down 17.37%; Shangtai Technology's net profit was 400 million yuan, down 16.6%; Shede Spirits' net profit was 145 million yuan, down 67.26%; Leyard's net profit was 69.1521 million yuan, down 59.74%; Zhongnan Culture's net profit was 30.587 million yuan, down 49.85%; Sunong Agricultural Development's net profit fell 32.48% year-on-year; H&T's net profit was 240 million yuan, down 32.23%; Guoguang Co., Ltd.'s net profit fell 20.39%; Jiahua Co., Ltd.'s net profit fell 9.03%; Tubao's net profit fell 7.67%; Hangmin Co., Ltd.'s net profit was 300 million yuan, down 4.59%. In terms of shareholding changes, Kangmeite shareholder Suzhou Yixing Tianxia plans to reduce its stake by no more than 1%; Jieya Co., Ltd.'s Mingyuan Fund and its concert parties plan to reduce their combined stake by no more than 4.99%; Espressif Systems' actual controller proposed a share buyback of 100 million to 200 million yuan; Huiyun Titanium obtained special financing support of no more than 22 million yuan for share repurchase. In terms of major contracts, Yakang Co., Ltd.'s subsidiary signed a computing power service procurement contract worth 868 million yuan; Hanhe Cable won a bid of about 717 million yuan for a China Southern Power Grid project; Beijing Creative Distribution Automation won a bid of about 304 million yuan for a China Southern Power Grid project; Dongwei Technology signed a sales contract worth 163 million yuan; PowerChina's newly signed contract value in the first seven months was 640.456 billion yuan, down 13% year-on-year.

Copper processing leader Jintian Copper has disclosed preliminary preparations for spinning off its controlling subsidiary Ningbo Ketian Magnetics Company Limited for listing on a domestic stock exchange. Jintian Copper holds a 91.14 percent stake in Ketian Magnetics, and the spin-off will not cause the company to lose control of Ketian Magnetics. Founded in 2001, Ketian Magnetics focuses on magnetic materials, with products used in new energy vehicles, wind power generation, high-efficiency energy-saving motors, robotics, consumer electronics, and medical devices. It operates magnetic materials production bases in Ningbo and Baotou. In the first half of 2026, Jintian Technology's rare earth magnetic materials segment achieved main business revenue of 1.1 billion yuan, up 49.93 percent year on year. Rare earth magnetic materials output reached 3,925 tonnes, up 12 percent year on year. The gross margin for rare earth magnetic materials was 14.8 percent, up 1.8 percentage points year on year. Jintian Copper said the spin-off will broaden Ketian Magnetics' financing channels and further deepen the company's layout in the rare earth permanent magnet materials business. The same evening, Jintian Copper released its half-year report, showing first-half operating revenue of approximately 79.3 billion yuan, up 33.74 percent year on year, and net profit attributable to shareholders of the listed company of 442 million yuan, up 18.44 percent year on year.

On the morning of August 14, the liquid cooling server concept sector was active. Jones Tech hit the 20 percent daily limit up, Aihua Group and Kangsheng Co. also hit limit up, while Jintian Copper, Siquan New Materials, and Yidong Electronics followed higher. On the news front, China's first national standard for data center liquid cooling, GB/T48023-2026 Technical Specification for Cold Plate Liquid Cooling Systems in Data Centers, led by Sugon Data Energy under Sugon, was officially approved and released, and will take effect on February 1, 2027. The standard systematically regulates technical requirements and testing methods for cold plate liquid cooling systems and key components for the first time, covering the entire process from system design, component requirements, hydraulic calculations, testing and verification, to deployment and operation and maintenance. Guotai Haitong Securities analysis pointed out that generative AI and large model training are driving server rack power density steadily higher, traditional air cooling is gradually hitting physical limits, and liquid cooling has shifted from an alternative for high-performance computing to a core support for next-generation computing infrastructure. China continues to tighten PUE control indicators for data centers, with new large and ultra-large data centers required to gradually reduce PUE to below 1.3, and energy-saving policies are shifting from advocacy to mandatory access constraints, forcing intelligent computing centers to increase liquid cooling deployment. Multiple institutions view the third quarter of this year as a watershed for industry performance. Zheshang Securities judges that large-scale shipments of Nvidia VR200 cabinets are the core driver, and upstream component makers are expected to receive concentrated batch orders in the third quarter. Overseas leaders' earnings also released positive signals. Vertiv reported second-quarter revenue of 3.274 billion US dollars, up 24 percent year on year, adjusted operating profit jumped 51 percent year on year, and backlog reached 15 billion US dollars. The company raised its full-year guidance and said liquid cooling order demand is strong.