Maipi Technology will hold a pre-IPO performance conference tomorrow and is expected to be listed for trading at the end of November. Chairman Zhao Yuanshan said that the direction of operational growth next year will remain unchanged. Cloud service providers (CSPs) will invest in new chips, driving the AI server liquid cooling proportion to increase from 10%. Maitri has joined hands with Intel to dissipate heat for AI servers. Servers accounted for 60% of revenue this year, and the Vietnam factory will increase production by 20% next year. production capacity.

Zhao Yuanshan said that Maiqi Technology focuses on the research and development and manufacturing of cooling modules. Its products cover servers, laptops, graphics cards, 5G base stations and automotive electronics. Its main customers include cloud service providers, well-known OEM module factories and major computer brands. Benefiting from the global generative AI boom, which has boosted the demand for AI server construction, cumulative revenue in the first nine months of this year was 2.763 billion yuan, an annual increase of 2.763 billion yuan. 86.86%, which has exceeded last year's full year.

Zhao Yuanshan pointed out that Maiqi Technology started with vapor chamber (VC) air-cooling technology and was the first company in Taiwan to successfully mass-produce vapor chambers. It has long focused on high-performance computing (HPC) and AI application fields, providing overall cooling solutions from design, simulation to mass production, and has been repeatedly recognized by international customers for its strong R&D energy and stable quality.

Zhao Yuanshan shared that as AI computing power consumption soars and thermal design power (TDP) continues to exceed limits, heat dissipation efficiency has become a key bottleneck for server performance. Maiqi Technology has successfully mass-produced 3DVC in the field of air cooling, and is actively deploying liquid cooling technology. It has joined hands with Intel to establish an "Advanced Cooling Technology Joint Laboratory" to prepare for the new era of AI server cooling in advance.

Lin Junhong, general manager of Maiqi Technology, said that benefiting from the continued increase in demand for AI computing power, Maike's AI server cooling products have accounted for more than 50% of revenue. Maike has developed "second-generation enhanced 3DVC" and "immersed water cooling" systems, and has also cooperated with international chip manufacturers to promote the development of superfluid CDU and high-power AI chip water blocks. Related products have been successfully introduced to international CSP manufacturers.

Lin Junhong pointed out that Maike Technology has completed the introduction of a fully automated VC and heat pipe production line, equipped with an AI deep learning detection system and MES process monitoring to ensure product yield and consistency, demonstrating its dual-track advantages in technology and manufacturing. As the demand for ASIC servers from CSP customers continues to increase, and related new chips are expected to be mass-produced in the second quarter of 2026, Maike will continue to benefit from the demand for high-power cooling modules.

The legal person stated that the unit price of AI server cooling products is more than three times that of traditional servers, which will help Maike improve its overall gross profit structure and profitability. Maike is expected to continue to expand the application territory of water cooling and 3DVC technology, strengthen cooperation with international manufacturers, deepen the layout of AI server and automotive electronics cooling, and improve production efficiency through automated manufacturing and capital expenditure plans to continue to boost operating growth.

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