Group 1: Market Opportunities and Company Positioning - The integration of "computing power + energy" is seen as a strategic opportunity, driven by the rapid growth of AI and data centers, leading to increased demand for power distribution equipment [3] - The company aims to transition from a supplier of equipment and services to an integrated solution provider and ultimately an energy supplier, leveraging over 20 years of experience in high-voltage power systems [3][4] Group 2: Core Competencies and Competitive Advantages - The company’s core advantage lies in its ability to integrate high-voltage power systems and power electronics, providing comprehensive solutions from grid access to end-user energy conversion [4] - The company employs an EPCO model to offer full lifecycle services, significantly reducing project construction time and investment costs [4][5] Group 3: Research and Development Plans - The company plans to commercialize its first 110kV integrated solution for data centers by 2026 and aims to complete the commercialization of fully self-developed solutions by 2027 [5] - The SST project is currently in the technology development phase, with expectations to launch products that achieve over 98% energy conversion efficiency [5][6] Group 4: Performance and Market Presence - The company has established partnerships with major data center operators, including China Mobile and Tencent, providing various power solutions such as modular substations and power modules [7] - The company has successfully delivered equipment for several high-profile projects, enhancing its reputation in the data center sector [7] Group 5: Long-term Strategic Goals - The company aims to become a global leader in the new power system and intelligent computing infrastructure sectors, focusing on energy digitalization and computing power infrastructure [8] - The strategic development path includes three phases: integrating modular substations with SST, becoming a leading integrated solution provider, and transitioning to an energy supplier model [8]