Nvidia's code opens a high-growth pathway for Haimuxing throughout the AI era

On March 16, Haimeixing (688559.SH) confirmed on the interactive platform that it has successfully obtained a supplier code from a leading global computing power company. Although the specific name was not disclosed, the market generally believes that the so-called “global computing power giant” is actually NVIDIA.

It is noteworthy that this news broke on the same day as NVIDIA’s GTC conference, which is no coincidence. This supplier qualification is essentially a “passport” for Haimeixing to enter the core infrastructure track of global AI computing power, marking the company’s official shift from a traditional intelligent manufacturing equipment provider to an enabler of key infrastructure in the AI era.

According to reports, in the field of precision manufacturing, obtaining NVIDIA’s code is equivalent to passing the industry’s most stringent supply chain review, allowing the company to participate in the R&D and manufacturing of the world’s top computing power products. From this perspective, Haimeixing is not just securing a client but has obtained the industry’s highest standard “certification.”

For a long time, the market’s perception of Haimeixing has been confined to “new energy intelligent manufacturing equipment stocks.” This move into NVIDIA’s supply chain will fundamentally change Haimeixing’s growth logic. The lithium battery cycle issues that previously hindered its valuation recovery have been downplayed by the market. Instead, the trillion-dollar infrastructure market brought by the global AI arms race is now the new growth driver.

Currently, with the soaring power consumption of next-generation AI chips based on Rubin architecture and others, liquid cooling and high-density packaging have become critical factors determining whether computing power can continue to “surge.” Haimeixing has demonstrated its high-precision laser processing capabilities in microchannel liquid cooling plates (MCL) and HDI laser drilling equipment.

Whether it is liquid cooling systems or high-end PCB/HDI processing, these are essential materials and “must-have” components in the expansion of computing power. As AI chip power consumption advances from hundreds of watts to kilowatts, the value of the company’s equipment is expected to grow exponentially.

Industry insiders point out that in the past, Haimeixing was a “seller of shovels” during the new energy vehicle wave, but now it has become a core partner providing key “tools” for chip giants in the AI computing wave. This role transformation will directly drive a thorough restructuring of the company’s valuation system.

By 2025, Haimeixing will have written off its historical burdens through a one-time impairment, enabling it to operate more lightly. In 2026, the company will not only see a bumper harvest of orders in the lithium battery sector but also expand into frontier fields such as solid-state batteries and space photovoltaics. Now, with the implementation of NVIDIA’s code, the highly promising AI computing track has been officially unlocked.

For investors, the key is not how much Haimeixing’s past P/E ratio was in the traditional equipment sector, but rather how much value it can carve out in emerging fields like solid-state batteries, space photovoltaics, and AI computing power. Historically, similar equipment companies that entered the supply chains of overseas giants often experienced valuation multiples increase by several times. Haimeixing’s current billion-yuan market cap may just be the beginning. NVIDIA’s code has opened a high-growth channel that runs through the AI era for Haimeixing.

(Edited by: He Chong)

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