On April 3, a research report released by CITIC Securities highlighted that the ongoing expansion of advanced domestic wafer fabrication plants is fueling rapid growth in China’s semiconductor equipment and component market. Radio frequency (RF) power supplies, recognized as a core and highly specialized component, are characterized by significant technical barriers and complex manufacturing processes. By 2024, the global market for RF power supplies had reached USD 5.3 billion, with the domestic market exceeding RMB 12 billion. However, constrained by technological limitations, China’s RF power supply sector has long been reliant on imports, with the market predominantly controlled by U.S. companies and an import substitution rate of just 12%. Amid intensifying U.S. export restrictions on semiconductors to China, domestic firms are now intensifying their efforts to align with global mainstream standards, accelerating the pace of import substitution.