[CITIC Securities: Huawei Connect Conference releases new AIDC energy infrastructure products Energy storage and liquid cooling accelerated upgrades] On September 19th, CITIC Securities research reported that Huawei held a fully connected conference from September 17th to 18th, and held an AIDC infrastructure summit on the afternoon of the 17th to further launch a new generation of energy and thermal management products around the source, grid, and load storage AIDC, including Taishan UPS, Hengshan centralized DC UPS, the highest density power module 5.0, smart lithium battery 5.0, and AI smart liquid cooling systems. Huawei proposes a "3+1" reconstruction of Watt, Heat, Bit, and construction models for AIDC, and uses MIMO architecture to achieve multi-power input, multi-standard output, and multi-level energy storage collaboration. We believe that as AIDC develops to hundreds of MW and GW levels and the power of single cabinets continues to increase, the power supply and cooling system of traditional data centers is accelerating the reconstruction. Energy storage will be upgraded from traditional power backup to load smoothing, grid-friendly and energy regulation. Liquid cooling will also be upgraded from a single refrigeration equipment to an intelligent thermal management system. Energy storage and liquid cooling are expected to become important incremental links in AIDC infrastructure.