บทวิเคราะห์ (Research)

The fast-growing demands for AI data centers, which require powerful calculations for the complex problems that will in turn generate high levels of heat. Hence, cooling costs typically represent a major operational expense and the initial capital cost for traditional air-cooling systems may cost 2% but other more advanced cooling like liquid systems can see significant operational costs, often estimated as a large portion of the total power budget up to 40% of data center’s total energy consumption. We maintain BUY and a TP of THB4.3. We see EPG as one of Thailand’s best plays on global, particularly U.S., AI growth super-cycle that we project to last at least until 2030. Thanks to EPG’s production base and its state-of-the-art EPDM insulator, the demand for advanced cooling systems requires higher-performance insulators without rooms to compromise for the competing lower-performance insulator types.