Core Viewpoint - The successful use of insulated scaffolding for live-line work in Qinghai Province marks a significant advancement in improving power service levels and enhancing customer satisfaction in electricity supply [1][2]. Group 1: Project Implementation - The live-line work was initiated based on customer demand to ensure that local residents' electricity supply was not affected [1]. - The work site was located in a farmland area with narrow surrounding roads, making it challenging for traditional insulated aerial work platforms to access [1]. - Insulated scaffolding was utilized as a supplementary tool to traditional live-line work equipment, effectively addressing the access challenges posed by the environment [1]. Group 2: Advantages of Insulated Scaffolding - Insulated scaffolding offers unique advantages such as a small footprint, flexible setup, and strong structural stability, allowing for rapid deployment in areas without wide access roads [1]. - The application of insulated scaffolding provides new solutions for live-line work in complex terrains like farmland and mountainous regions [1][2]. - The successful implementation of insulated scaffolding enhances operational safety and efficiency, addressing issues related to traditional work methods such as limited working space and fewer types of ground potential operations [2].

Core Viewpoint - The company successfully replaced a faulty voltage transformer on a 10 kV line using a specialized tool called "Centipede Ladder," ensuring zero impact on electricity supply for 282 households in Xidan Village [1][4]. Group 1: Technology and Equipment - The "Centipede Ladder" is a segmented insulated climbing support tool designed for live-line work, featuring a central insulated pipe and cross-arranged insulated footboards [2]. - This tool is particularly effective in complex terrains such as fields, hills, and grasslands, addressing challenges where traditional insulated aerial work platforms cannot access [2][7]. Group 2: Operational Efficiency - The operation involved meticulous preparation, including leveling the ground, driving stakes, assembling the Centipede Ladder, and securing insulated cable wind ropes, which took about thirty minutes [4]. - The use of the Centipede Ladder allowed for precise and efficient live replacement of faulty equipment, eliminating operational hazards while ensuring users experienced "zero perception" of the work being done [4][7]. Group 3: Future Developments - The company aims to expand its non-power-off operation scenarios and explore new methods and technologies to enhance the efficiency of power grid maintenance and repair [7]. - Future projects will focus on increasing the coverage of non-power-off operations in equipment maintenance, major repairs, and capacity expansion, contributing to improved power supply reliability and a better business environment in Pucheng [7].

Core Viewpoint - The successful completion of the first single-vehicle live working operation by the State Grid Aheqi County Power Supply Company marks a significant breakthrough in the field of live working in the distribution network, enhancing power supply reliability and reducing outage time [1][6]. Group 1: Operation Details - The task involved working on a live load tensioning line of the 10 kV Labu line, which was accomplished using a multifunctional live working vehicle equipped with an insulated arm, operation platform, and a full set of tools, differing from traditional methods that required multiple vehicles [3]. - The operation was completed in just 4 hours, nearly halving the time compared to traditional methods, and did not cause any power outages, ensuring normal electricity supply for 126 households and important sensitive users in the vicinity [3][5]. Group 2: Efficiency and Cost Reduction - Previously, handling such faults required either power outages for repairs or the coordination of multiple vehicles, leading to longer preparation times and higher costs; now, a single vehicle can efficiently complete the task with only five personnel instead of ten [5]. - The successful execution of this single-vehicle live working operation not only tested the technical capabilities of the live working team but also provided valuable experience for future operations in complex terrains and narrow areas [6]. Group 3: Future Plans - The company plans to continue enhancing the research and application of live working technologies, expanding the scope of operations and improving efficiency to provide more reliable power supply services that support local economic and social development [6].

Core Viewpoint - Wuhan Lide Electric Technology Co., Ltd. (referred to as Lide Technology) has submitted a prospectus for an IPO on the Beijing Stock Exchange, with Open Source Securities Co., Ltd. as the sponsor [1] Company Overview - Lide Technology is based in Hongshan District, Wuhan, Hubei Province, and is controlled by Wang Songfeng, who holds 28.56% of the shares directly and controls 64% of the voting rights through indirect holdings [1] - The company specializes in non-power outage operation vehicles, specialized equipment, tools, professional services, and system solutions for power distribution networks [1] Financial Performance - Revenue for Lide Technology during the reporting period was approximately 420 million yuan, 346 million yuan, and 397 million yuan for the years 2022, 2023, and 2024 respectively [5] - Net profit for the same years was approximately 67.27 million yuan, 56.15 million yuan, and 65.69 million yuan [5] - The comprehensive gross margin for these years was 37.26%, 43.54%, and 41.52% respectively [5] Revenue Composition - The revenue share from non-power outage operation vehicles is projected to decrease from 49.35% in 2022 to 22.55% in 2024, while the shares from non-power outage specialized equipment, tools, and technical services are expected to increase [1][2] - Specific revenue figures for 2024 include: - Non-power outage operation vehicles: 89.37 million yuan (22.55%) - Non-power outage specialized equipment: 57.60 million yuan (14.54%) - Non-power outage tools: 82.29 million yuan (20.77%) - Non-power outage technical services: 88.50 million yuan (22.33%) [2] Industry Context - The power distribution network is crucial for delivering electricity from high-voltage systems to end users, ensuring stable power supply [3] - In 2023, China's grid investment reached 527.7 billion yuan, a year-on-year increase of 5.4%, with a continuous rise in non-power outage operations driven by market expansion [3] Future Prospects - Lide Technology plans to raise approximately 237 million yuan through the IPO to invest in the second phase of its non-power outage operation production base, R&D center construction, and non-power outage operation technical services [8] - The company faces risks related to its reliance on the power industry and grid companies, with significant revenue contributions from State Grid and Southern Grid [7]

Core Viewpoint - The development of the non-power outage operation in China's distribution network is accelerating, driven by stable electricity supply and increasing demand for reliable power supply as the economy grows [1][11]. Group 1: Industry Overview - The non-power outage operation in the distribution network refers to conducting maintenance or construction work while minimizing or avoiding power outages for users, thereby enhancing power supply reliability and increasing supply capacity [2][8]. - The market size for non-power outage operations in China's distribution network is projected to reach 131.19 billion yuan in 2024, with an expected growth to 137.89 billion yuan in 2025 [11][13]. Group 2: Market Dynamics - The industry is experiencing a shift from "power outage operations" to "non-power outage operations," with the number of non-power outage operations increasing from 904,200 times in 2016 to an estimated 1,624,400 times in 2024, reflecting a compound annual growth rate of 7.60% [13]. - The average charge for non-power outage operations is expected to rise slightly from 8,076 yuan per operation in 2024 to 8,120 yuan in 2025 [13]. Group 3: Competitive Landscape - The competitive structure of the non-power outage operation industry in China is characterized by significant differences in technology and service quality among companies, with state-owned enterprises dominating the market due to their resource integration capabilities and brand influence [18][19]. - Major companies in the industry include Wuli De Electric Science, Hailun Zhe, Xuhui Electric, and Beijing Kerui, each offering specialized products and services for non-power outage operations [19]. Group 4: Development Trends - The increasing demand for stable electricity supply necessitates the implementation of non-power outage operations, which can enhance economic efficiency for power companies and reduce economic losses caused by outages [21]. - The technology for non-power outage operations is crucial for ensuring continuous power supply and minimizing the negative impacts of outages on the economy, indicating a broad development space for the market [21].