Core Insights - The report by Ge Wu Zhi Sheng indicates that Shenzhen Shenghong Electric Co., Ltd. (referred to as "Shenghong Co." or "盛弘股份") is a leading player in the low-voltage power quality market, driven by technological innovation and deep industry engagement [1] Market Overview - The overall market size for low-voltage power quality in China is projected to reach 12.8 billion yuan in 2024, with expectations to grow to 15.28 billion yuan by 2028, driven by the dual trends of "scale expansion + structural upgrade" [1] - Key growth areas identified include industrial projects, data centers, and new energy generation [1] Competitive Landscape - Shenghong Co. is the only company in the industry with revenue from low-voltage power quality products exceeding 500 million yuan, solidifying its position in the first tier of the market [1] - The company has established itself as a preferred brand in high-end application fields such as semiconductors, data centers, and new energy generation [2] Product Development - Key products such as SVG, APF, and AVC are experiencing significant growth and are replacing traditional reactive power compensation devices [2] - Shenghong Co.'s products cover critical sectors including semiconductors, new energy generation, petrochemicals, hospitals, shipping, and rail transportation, demonstrating a strong presence across various application scenarios [2] Technological Advancements - Silicon carbide (SiC) technology is emerging as the latest trend in low-voltage power quality technology development in China [3] - Shenghong Co. has successfully developed and scaled SiC power quality products, achieving a 2% efficiency improvement and a 50% reduction in size compared to traditional silicon-based solutions [3] - The company is positioned as a preferred partner for national and provincial key projects, focusing on technological research and development to support the transition to a high-quality new power system [3]