According to a research report by CITIC Securities, the evolution and upgrade of AIDC power supply systems are paving the way for fresh opportunities, while the momentum behind overseas power grid upgrades is gaining significant traction. AI power supply systems are undergoing a transformation from Uninterruptible Power Supply (UPS) systems to comprehensive direct current (DC) systems. This shift is characterized by elevated output voltage levels and the expedited integration of matching (Note: In this context, "matching" refers to the compatibility and support of SST solutions; for enhanced clarity in the final version, consider substituting with "supporting" if deemed necessary) SST (Solid State Transformer) solutions. Concurrently, the power density of server power supplies is on the rise, propelling an uptick in both their physical dimensions and market prices, and consequently fueling the demand for supercapacitors.

CITIC Securities maintains a positive outlook on the growing market presence of domestic server power supply brands. Additionally, it identifies promising investment avenues in the international expansion of innovative domestic products, including supercapacitors and SSTs, along with their complementary power supply systems. Simultaneously, the proliferation of AIDC technologies and renewable energy sources is catalyzing upgrades in overseas power grid infrastructures. Looking ahead, it is anticipated that overseas markets will emulate China's '14th Five-Year Plan' cycle for power system upgrades and transformations. This global trend is expected to concentrate on three key sectors: energy storage solutions, base load power generation equipment, and advanced grid infrastructure.