[Jinzhou Pipeline: 170 sets of liquid-cooled CDU pipelines have been ordered by major Internet manufacturers and are expected to be delivered before the end of October] On October 21, Jinzhou Pipeline (002443.SZ) released an investor relations activity record announcement. The company’s liquid cooling business is mainly ODM/OEM OEM, and its direct customers are liquid cooling component and module manufacturers and system integrators. The technical route is parallel to the cold plate type and immersed type. Dongguan Huaxing focuses on the large-scale manufacturing of cold plate type core components. Shanlin Times simultaneously lays out cold plate type, immersed type and "air cooling + cold plate + immersed" hybrid architecture, and independently supports CDU, liquid cooling cabinets, and intelligent temperature control systems. The production capacity digestion path includes ODM/OEM OEM production volume expansion, domestic computing power platform adaptation certification and terminal introduction, and the collaborative drainage of customer resources in the Shanlin era to state-owned computing power platforms and operators. The CDU pipeline business of the liquid cooling segment has received an order for 170 sets from a customer. The end customer is a major Internet company and is expected to be delivered before the end of October 2026. The capacity utilization rate of the first phase is currently in the climbing and improvement stage. This situation will improve significantly in the week of October 2026 and the next two weeks. The core support is that it has obtained customer certification. After the head customers complete trial and error, they will be decentralized. When the supplier's small batch production capacity index reaches 80% or 85%, it can be introduced on a large scale. The second and third phases of construction are ready, and the core sign of launch is that shipments and capacity utilization reach 100% or even 120%.