Summary of Conference Call on Solid-State Transformer (SST) Technology Industry Overview - The conference call focuses on the **Solid-State Transformer (SST)** technology and its implications for the **data center** and **power distribution** industries, particularly in the context of the explosive growth of AI data centers, which are expected to maintain a compound annual growth rate (CAGR) of over **35%** until **2030** [1][5][16]. Key Points and Arguments Growth of AI Data Centers - AI data centers are experiencing explosive growth, with a shift towards supercomputing and intelligent computing demands, leading to an increase in power consumption per cabinet from **4-6 kW** in traditional data centers to **20-40 kW** or even **120 kW** in intelligent computing centers [5][6][7]. - This trend necessitates higher voltage levels and more compact power distribution systems, with a move towards **800V DC** power supply architectures by companies like NVIDIA, planned for deployment by **2027** [5][6]. Advantages of Solid-State Transformers (SST) - SST technology offers significant advantages over traditional transformers, including: - **Size and Weight Reduction**: SSTs can reduce size and weight by at least **50%** compared to traditional transformers [12][13]. - **High Efficiency**: SSTs can achieve efficiency levels exceeding **95%** by eliminating the inverter stage found in traditional UPS systems [9][10]. - **Active Control**: SSTs utilize solid-state electronic switches for active control, allowing for direct conversion from **10 kV AC** to **800 V DC** without the need for filtering or reactive power compensation [10][11]. - **Flexibility**: SSTs can easily adapt to various power sources, including renewable energy, making them suitable for modern power grids [2][14]. Market Outlook and Production - SSTs are expected to enter small-scale production by **2027**, with a rapid increase in market penetration anticipated [3][16]. - The technology is positioned to play a crucial role in the modernization of data centers, particularly in high-performance computing and semiconductor manufacturing [12][13]. Additional Important Insights Impact on Power Distribution Systems - The shift towards AI data centers and higher power demands is driving the need for more efficient and compact power distribution solutions, with SSTs being a key player in this transition [5][15]. - The construction cycle for data centers utilizing SST technology can be reduced to **three months**, significantly shorter than traditional methods [14]. Beneficiary Companies - Several companies are poised to benefit from the growth of SST technology: - **Xidian Electronics** and its parent company **China Xidian** are already applying SST technology in projects like "East Data West Computing" [17]. - **Jinpan Technology** has strong ties with major clients in the data center sector, positioning it well for growth [17]. - Other companies with technological advantages, such as **Shenghong Sifang** and **Kelu**, along with upstream material suppliers like **Yunluo Technology** and **Antai Technology**, are also expected to benefit from the industry demand surge [18]. Conclusion - The SST technology represents a transformative shift in the power distribution landscape, particularly for data centers, driven by the increasing demands of AI and high-performance computing. The anticipated growth in this sector presents significant investment opportunities and highlights the importance of companies that are well-positioned to leverage these advancements.