Chuanhuan Tech Jumps by Limit After Landing Order for 60,000 Data Center Cooling Pipes
(Yicai) Dec. 27 — Chuanhuan Technology’s shares surged by their daily trading limit after the Chinese car parts and cooling pipeline manufacturer said it received an order for 60,000 liquid cooling pipes for data centers.
Chuanhuan Tech [SHE: 300547] closed 20 percent higher at CNY24.41 (USD3.34) a share today. The broader Shenzhen market fell 0.1 percent.
Chuanhuan Tech has inked a deal with a data center total solution service provider to deliver cooling pipeline systems according to its requirements, the Dazhou-based company announced late yesterday, without disclosing the client’s name and other details due to a confidentiality agreement.
The order will enhance Chuanhuan Tech’s influence in the data server liquid cooling pipes market, boost its related products’ share, and improve the sustainable profitability of the business, according to the company.
Chuanhuan Tech, which focuses on making various car and motorcycle hoses, has become keen on developing cooling pipes suitable for energy storage, big data supercomputing, and other fields in recent years, signing supply deals with many well-known Chinese companies.
Chuanhuan Tech’s sales revenue from cooling hoses reached CNY691 million (USD94.5 million) last year, accounting for 62 percent of its total income, according to its annual financial report. However, it did not disclose figures from its data center cooling pipes business.
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Chuanhuan Tech Jumps by Limit After Landing Order for 60,000 Data Center Cooling Pipes, source
