分类：按安装方式和应用场景，电力模块主要分为半封闭预制舱式电力模块、全封闭预制舱式电力模块、撬块式电力模块三种类型。 发展背景：传统数据中心供配电方案多采用攒机建设模式，各个设备运到现场后再进行拼装，占地面积大，运维效率低、安全风险高。相较之下，电力模块 采用一体化超融合设计，高度集成变压器、进线/母联柜、UPS、维旁柜等核心设备，有效节省占地面积，降低现场交付难度，逐步成为智算中心供配电优 选方案。 市场规模：近几年，具有快速部署、节省空间、智能管理等特点的电力模块产品关注热度持续升高、应用空间不断拓宽，市场规模呈现高速增长态势。2024 年，中国电力模块市场规模达21.3亿元，同比增速达到25.6%，较2023年增速提高超过5个百分点。 报告导读： 随着AIGC应用快速迭代，AI大模型训练、推理需求激增，推动数据中心机柜功率密度大幅提升。智算中心作为承载AI算力的核心底座，单柜功率密度已突 破20kW，相比通算数据中心增长数倍，这对智算中心供配电带来巨大挑战。传统数据中心供配电方案多采用攒机建设模式，各个设备运到现场后再进行拼 装，占地面积大，运维效率低、安全风险高。相较之下，电力模块采用一体化超融合设计 ...

Financial Data and Key Metrics Changes - The company reported $10,800,000 in revenue for Q4, marking the first quarter of material income, primarily from a technology license sale to Reed Societe Generale Group for CAD10.4 million [5][15] - Operating expenses were reduced to $2,600,000, a decrease of $2,100,000 or 44% year-over-year [16] - The company enhanced its liquidity position with initial proceeds of $20,800,000 from the transaction with Reed Societe Generale Group [16] Business Line Data and Key Metrics Changes - The Infinite Loop India facility is expected to produce both virgin quality polyester fiber grade PET and virgin quality bottle grade PET resin, diversifying customer segments [9] - The CapEx for the India project is estimated at $176,000,000, which includes all installation costs and financing [46] Market Data and Key Metrics Changes - The company is in advanced discussions with several brand companies to secure off-take supply agreements for the Indian facility, which are crucial for project financing [10] - The company is focusing on modular construction for its European facility, which will reduce overall CapEx and shorten construction timelines [12] Company Strategy and Development Direction - The company is pursuing a low-cost manufacturing strategy, with a focus on building facilities in low-cost countries to reduce CapEx and OpEx [7][12] - Modular construction is a key focus moving forward, allowing for quicker project execution and better overall performance [12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about the future, highlighting that the India project fits the financial metrics for success and will deliver top-quality materials at competitive prices [18] - The company expects to have sufficient liquidity for the next five to six quarters, with no immediate liquidity concerns [25] Other Important Information - The company has executed an engineering services agreement with its India joint venture for $600,000 to support the FEED engineering study [6] - The company anticipates generating an additional $750,000 in engineering revenue by the end of the year [6] Q&A Session Summary Question: What is the latest timeline for the India JV execution? - The facility is expected to break ground in the second half of this year, with customer contracts being the gating item for project financing [22] Question: What is the cash burn and liquidity outlook? - The company has five to six quarters of liquidity on hand and is discussing with strategic partners to fill a financing gap [25][26] Question: Can you comment on the land selection process for the India facility? - The land selection in Gujarat has been finalized, and negotiations with the local government are ongoing [30][32] Question: What is the CapEx for the India plant? - The total CapEx for the India project is $176,000,000, which includes all costs associated with the project [46] Question: What are the expected margins from the joint venture? - The company expects robust margins from day one, with a 5% licensing fee covering back office expenses [68]