[North America AIDC Chiller Expert] Exchange Highlights [Soochow Machinery]

English summary

# Industry demand continues to grow, and top manufacturers' orders are already backlogged to 2027-2028. The expert's company (referred to as JS) has orders of 11/18/26e dollars for 2024-2026, and cloud vendors generally lock in capacity 2-3 years in advance. # North American manufacturers face many expansion barriers, with capacity growth far below order growth. Global capacity is at full production, and North American capacity is expected to grow only 20%-30%, with production start dates delayed from 2026 to 2028. It is unlikely that the North American market will be supplied by transferring capacity from other regions. The capacity expansion bottleneck lies in processing equipment and personnel at all stages; all companies are competing for talent. # Due to a large supply-demand gap, the industry has begun to raise prices/increase down payment ratios/extend delivery cycles. ①JS has seen cumulative price increases of 18%-25% over two years, and prices are expected to rise at least another 15% in 2027; other leading companies are also raising prices simultaneously. ②Down payments were originally 20%-30%, and now top large customers have seen down payments rise to up to 40%.…