Financial Flash│By Lee, Chen-Lin （ Daniel Lee ）李振麟
Thermal module manufacturer Maico is entering the final stage before its stock market debut, releasing 5,400 shares for public bidding with a base price of NT$100 per share. Each bidder may subscribe for up to 696 shares, and the company is scheduled to be listed on November 21, drawing strong market attention.
Maico noted that its early product portfolio focused largely on consumer electronics. However, as global demand shifted rapidly in recent years, the company has gradually redirected its development efforts toward higher-margin AI cooling technologies. Despite the surge in AI-related orders, the company emphasized that it has not abandoned its existing production lines and continues to maintain close cooperation with global brand customers.
Maico believes that the expansion of AI infrastructure will fuel a new wave of transformation in human-machine interaction and automotive electronics. As such, the company continues to broaden its product lineup and enhance its production capacity. Future revenue growth will be driven primarily by AI cooling applications, while its PC, consumer electronics, and automotive product lines will remain stable contributors, supporting the next stage of business expansion.
The company’s core strength lies in its vapor chamber (VC) technology, and it is actively developing advanced thermal solutions such as liquid cooling and micro-channel systems. Maico has also deepened its cooperation with multiple world-class CSP customers. According to the company, its R&D team possesses strong execution and problem-solving capability, enabling rapid responses to customer demands for high-performance cooling—an advantage that has earned Maico long-term trust from international clients.
On the manufacturing side, Maico continues to invest in production automation, demonstrating its commitment to transformation and capacity enhancement. Automation not only improves product quality and stability but also strengthens the foundation for new plant construction and mass production. In addition to upgrading its Huizhou facility in China, Maico has also established a second production base in Vietnam to meet diverse global demand for liquid-cooling and air-cooling solutions, completing a more comprehensive international production layout.
邁萪AI散熱需求推升公司轉型加速。以VC均溫板為核心，布局液冷與微流道散熱，越南第二生產基地同步擴產，成為AI基礎建設散熱的重要供應鏈。邁萪科技憑著自製均溫板及熱導管等散熱關鍵核心零件的技術優勢，廣泛應用於雲端運算中心、電信通訊暨網通設備、電腦與顯示卡、遊戲機、自動化工業機具、工業電腦及太空產業、車載控制,智能家電與設備,以及新能源汽車散熱等領域。