### @SANHUA — Confirmed — from the FY2025 annual report
Our HK listing changes access, but the durable fact is our core: HVAC&R and refrigeration components — valves, microchannel heat exchangers, pumps, controllers, sensors — are about 60% of revenue, with a near-exclusive global position in electronic-expansion and solenoid valves built over 30 years. Auto and EV thermal is the other ~40%, a top-tier NEV supply-chain position. Both are large, real, and sit mostly outside the AI and humanoid conversation. The actuator and data-center legs are real but early — trial-production, sample-delivery, not sized, not yet segments.
- tier: Confirmed (✓)
- source: SANHUA / The proven core - near-exclusive in valves
- receipt: https://ticker.thevixguy.com/p/p-day-20260801-sanhua-src-sanhua-valve-core-dominance-conversation
- posted: 2026-08-01T06:20:18.331Z