Data Center Power & Cooling Value Chain map

Boundary

• InferenceFrom the public grid or a direct green-power line to the campus high/medium-voltage incoming feeders.

Interfaces and neighbours

• FactUpstream can be the grid company or a renewable project supplying a single user over a direct line; for grid-connected direct-supply projects, safety responsibility is split at the property boundary.[S03 · 条目一、条目十]
• InferenceDownstream connects to N2, medium-voltage distribution and transformation.

Who pays

• FactDirect green-power projects must still pay transmission and distribution charges, system operation charges, policy cross-subsidies and government funds and surcharges.[S03 · 条目十三]
• GapS03 does not mention data centers at all; it is cited only for charges and responsibility boundaries at grid connection, not as a data-center rule.

Revenue and cost

• GapThe share of electricity in data center operating cost, grid-connection approval time, and dual-feed or high-reliability supply charges: no primary source obtained.

Risks and constraints

• FactThe 2024 plan targets green power above 80% by end-2025 for new data centers in national hub nodes (applies only to new projects in hub nodes).[S01 · p3，二（四）]
• FactFor existing data centers below the energy-saving level and those under construction or planned that miss the advanced level, the 2024 plan uses the wording "study" tiered electricity prices based on the efficiency gap.[S01 · p4，三（一）]
• GapThat wording does not establish that tiered pricing has been implemented; its current status has not been verified here.

Verified source-record associations

No verified source-record association yet. This does not mean the stage has no companies, only that none is verified on this site.

Boundary

• InferenceIncoming feeder → medium-voltage switchgear → transformer → low-voltage distribution.

Interfaces and neighbours

• FactVertiv's products include low/medium-voltage switchgear and busbar.[S06 · Item 1. Business]
• InferenceDownstream connects to N3; an integrated 10kV-to-DC power module folds part of this node into one unit (see N3).

Who pays

• InferenceMedium-voltage distribution and transformer equipment may be bought directly by the data center builder or through a system integrator or general contractor; the actual purchasing path for this node is unverified.

Revenue and cost

• Fact金盘科技 (688676) discloses that its transformers are used in more than one hundred data center projects.[S11 · （7）新型基础设施建设应用领域]
• GapDomestic switchgear makers' data center business, lead times and material costs: no primary source obtained.

Risks and constraints

• FactThe plan encourages upgrading power distribution systems such as high-efficiency transformers (an encouraged direction, not a mandate).[S01 · p4，二（六）]

Verified source-record associations

• 金盘科技 (688676)ID 93Transformers (disclosed as used in data center projects)[S11 · （7）新型基础设施建设应用领域]

Boundary

• InferenceThe boundary depends on the architecture: low-voltage AC UPS and 240V/336V HVDC sit between low-voltage distribution and IT distribution; an integrated 10kV-to-DC power module spans N2, N3 and N5. The three architectures are listed separately below.

Interfaces and neighbours

• GapOnly the HVDC design described in S09 has a primary description of the battery interface; battery interfaces of the other architectures and the generator transfer point are unverified, so no series topology is drawn here.

Who pays

• InferenceThe data center builder or IDC operator.

Revenue and cost

• Fact科华数据 (002335) "data center products" line: 2024 revenue RMB 1.921 billion, gross margin 32.25% (one company's product line, not industry data for this node).[S08 · p20–21，营业收入构成]

Risks and constraints

• FactThe plan encourages DC power, power modules and modular power supplies (an encouraged direction; it does not require any project to adopt a given architecture).[S01 · p4，二（六）]
• GapMarket share of each architecture and primary evidence for other domestic makers such as 科士达 and 易事特: not obtained.

Three uninterruptible power architectures (kept apart)

Verified source-record associations

• 科华数据 (002335)ID 34Data center UPS (300kVA–1200kVA)[S08 · p13]

Boundary

• InferenceTwo branches: generator sets for long-duration backup (fuel type unverified), and batteries or lithium backup systems for short ride-through.

Interfaces and neighbours

• GapWhere generators connect and transfer in the power path is not documented here by any standard or vendor wiring document, so no series topology is drawn; for batteries see the N3 architectures.

Who pays

• InferenceThe data center builder.

Revenue and cost

• Fact南都电源 (300068) reports winning second place in Alibaba's annual tender and the sole award of a GDS high-voltage lithium project during the period.[S10 · p5]
• FactCummins states that customer applications of its standby and prime generator sets include data centers (this only shows a generator maker lists data centers as an application).[S12 · Item 1, Power Systems segment]

Risks and constraints

• FactIn Uptime's explanation of tiers, Tier I includes an engine generator, and Tier II redundant components include UPS modules, chillers or pumps, and engine generators (an explanatory article, not the standard itself).[S04 · Tier I / Tier II]
• GapPrimary sources for domestic generator makers, the fuel mix of data center generators, and GB 50174 backup-power requirements: all unverified.

Verified source-record associations

• 科华数据 (002335)ID 34Battery backup: S³ smart lithium backup system (associated in this node as battery backup only)[S08 · p13]
• 南都电源 (300068.SZ)ID 35Battery backup: data center backup power and high-voltage lithium (associated in this node as battery backup only)[S10 · p5]

Boundary

• InferenceIT distribution → row distribution, busway → rack PDU → server power supplies.

Interfaces and neighbours

• FactVertiv's products include busbar; 中恒电气 power module integrates an output distribution unit.[S06 · Item 1. Business][S09 · p3]

Who pays

• InferenceThe data center builder; with fully integrated racks it may come with the server vendor.

Revenue and cost

• Fact科华数据 (002335) cites a "largest busway application project".[S08 · p14]
• GapPDU makers and integrated-rack power specifications (such as OCP Open Rack v3): no primary source obtained.

Risks and constraints

• InferenceHigh-density and fully integrated racks may change the distribution form and who buys it; not yet sourced.

Verified source-record associations

• 科华数据 (002335)ID 34Busway application project[S08 · p14]

Boundary

• InferenceCooling source → room-level or in-row air units; or cooling source → CDU → manifold → quick connector → cold plate.

Interfaces and neighbours

• Fact英维克 (002837) liquid cooling products cover cold plates, quick connectors, manifolds, CDUs, racks, coolant, piping and cooling sources.[S07 · p2]
• FactNVIDIA's GB200 NVL72 is a rack-scale, liquid-cooled design.[S05 · 产品页 / product page]
• InferenceThe choice of server platform may shape the facility-side cooling interface.

Who pays

• Fact英维克 (002837) discloses that its products are supplied directly or through system integrators to data center owners, IDC operators, large internet companies and telecom operators (one company's sample, not generalised to all cooling products).[S07 · p2]

Revenue and cost

• Fact英维克 (002837) cumulative liquid-cooling deliveries reached 1.2GW by March 2025; 2024 revenue RMB 4.589 billion (including non-data-center business).[S07 · p2][S07 · p3，主要会计数据]
• GapSeparate liquid-cooling revenue, immersion cooling, and other liquid-cooling makers: no primary source obtained.

Risks and constraints

• FactThe plan encourages efficient cooling such as liquid cooling, evaporative cooling, heat pipes and pumped refrigerant, adapted to local conditions (an encouraged direction, not a mandate).[S01 · p4，二（六）]
• InferenceCooling and power-distribution losses together affect PUE; S01 sets PUE targets only and does not describe the breakdown.

Verified source-record associations

• 英维克 (002837)ID 31End-to-end liquid cooling (cold plates, quick connectors, manifolds, CDUs, etc.)[S07 · p2]
• 科华数据 (002335)ID 34Cold-plate liquid-cooled micro-module[S08 · p13]

Boundary

• InferenceData center owners, IDC operators, cloud providers, telecom operators, and enterprises running their own data centers.

Interfaces and neighbours

• InferenceBuys N2–N6; either rents rack space or compute services to outside tenants, or uses the capacity for its own business.

Who pays

• InferenceThe final buyer of the equipment in this chain. Outside-tenant payment and own use are two different value relationships; see the value flow below.

Revenue and cost

• Fact科华数据 (002335) "IDC service revenue": RMB 1.231 billion in 2024 at 23.32% gross margin, based on its 10 self-built data centers (one company's data, not extended to cloud providers, operators or in-house data centers).[S08 · p20–21，营业收入构成][S08 · p15]
• GapIDC operators' cost structure (electricity, depreciation) and how in-house data centers allocate cost: no primary source obtained.

Risks and constraints

• FactThe plan states that where data centers in operation for over a year in a city have overall utilisation below 50%, new clusters and large or hyperscale projects should in principle not be planned there.[S01 · p2，二（一）]

Verified source-record associations

• 科华数据 (002335)ID 34IDC services (10 self-built data centers)[S08 · p15、p20–21]

Boundary

• InferencePUE management, demand response and waste-heat recovery, spanning N1–N7.

Interfaces and neighbours

• FactThe plan encourages capable data centers to take part in demand-side management, and encourages heat-recovery systems for campus heating, district heating and facility agriculture.[S01 · p3，二（五）]

Who pays

• InferenceThe operator.

Revenue and cost

• GapNo primary case for how waste-heat recovery earns revenue.

Risks and constraints

• FactFor PUE targets see "Targets for end-2025 set by the 2024 plan" at the top; they apply separately to the national average, new and expanded large data centers, and national hub nodes.[S01 · p1–2]
• GapResearch note: company samples for this chain are retrieved by the power grid equipment, energy storage and energy services industries; an industry match does not prove supply to data centers and must be checked against primary sources each round. Verified associations on this site are only source records 34, 31, 35 and 93.

Verified source-record associations

No verified source-record association yet. This does not mean the stage has no companies, only that none is verified on this site.