Data-Center Cooling Stocks Sink in China on Competition Concerns

Shares of Chinese liquid-cooling providers fell after a closely watched company reported earnings that missed expectations, sparking concerns over intensifying competition.

Shenzhen Envicool Technology Co. dropped by the 10% daily limit after it reported an 82% plunge in first-quarter profit. Peers including Zhejiang Dayuan Pumps Industrial Co. and Feilong Auto Components Co. tumbled at least 7% each.