Envicool

Business

Envicool (深圳市英维克科技股份有限公司) makes precision cooling: room-level systems for data centres and computing, cabinet-level cooling for telecom base stations, battery storage and grid equipment, liquid cold plates for servers, and air conditioning for buses and trains (2026 interim report, p. 9).

The company says it was the first maker to enter thermal management for electrochemical storage, that it leads that market, and that it is an important supplier to many storage system makers (p. 9). It moved from air-cooled cabinet units to liquid-cooled units in 2020. Its BattCool liquid cooling line has followed storage systems as they grew, from the first 5 MWh high-density system in January 2024 to 6 MWh-plus solutions, direct cooling and high-temperature units for the Middle East in 2025 (pp. 9, 10).

Results in the first half of 2026

• Revenue rose 17.24% to ¥3.02bn, but net profit attributable to shareholders fell 14.32% to ¥184.8m (p. 7).
• Cabinet cooling, the segment that includes storage, brought in ¥1.07bn, up 15.28%, at a 26.77% gross margin, down 1.32 points. The company blames a less favourable regional mix in its storage business for the lower margin. It does not report storage separately (pp. 10, 15).
• Data centre room cooling brought in ¥1.70bn, up 25.84%, at 23.34% (p. 15).
• Overseas revenue rose 71.39% to ¥444.1m and earned a 48.20% gross margin, against 20.92% in China (p. 15).

The company's own caveats

The company says its domestic data centre business faces fierce competition and that overseas sales, though growing fast, are still a small share of revenue (p. 9).