Shenzhen Envicool Technology Co.,Ltd.'s Board Secretary, Ou Xianhua, has drawn a clear line between the company and certain securities analysts, such as Zhou Ershuang from Soochow Securities, who have been promoting the narrative of the company's involvement in the NVIDIA ecosystem. Ou stated unequivocally that the company has never disseminated such information. This raises questions about whether regulatory bodies should investigate these analysts.
According to a review of NVIDIA's official website, Envicool is not listed as a partner. The sole liquid cooling system integrator for NVIDIA is Vertiv. It is possible that Envicool supplies components like cold plates or CDUs to Vertiv, positioning it as a parts supplier to an NVIDIA partner, rather than a direct partner itself.
Envicool has never publicly disclosed supplying NVIDIA in its annual reports or any public forums. The company's website also does not claim to be "the only liquid cooling supplier in mainland China certified under NVIDIA's NPN Tier 1 program." Its promotional materials reference the "MGX ecosystem," not NVIDIA's overall ecosystem.
Analysts like Zhou Ershuang from Soochow Securities have been prolific advocates for Envicool, issuing numerous research reports. Over the past year, these analysts have published 26 reports consistently recommending to increase holdings or buy the stock. However, the information within these reports is often vague, potentially leading investors to infer that Envicool is a direct supplier or partner of NVIDIA.
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