[Sector Opportunity] Dig Deep into Solar-Storage DCDC and Seize the Most Stable Growth Track in New Energy

在新能源细分赛道中，光储配套设备是确定性最高、需求最稳定、落地场景最广的优质赛道。而DCDC模块作为光储系统的核心刚需配件，市场需求持续放量，成为行业掘金核心风口。

Among new-energy sub-sectors, solar-storage supporting equipment represents a high-quality track featuring highest certainty, steady demand and wide application scenarios. As a core must-have component for solar-storage systems, DCDC modules see continuously expanding market demand and form a key industry hotspot.

不同于逆变器、PCS等竞争白热化的设备，中高端光储专用DCDC模块技术门槛更高，聚焦高效率、高可靠、智能化定制化产品的企业，拥有极强的市场竞争力。无论是存量项目的设备迭代更新，还是新建光储项目的配套采购，都持续释放订单需求。

Unlike inverters and PCS converters operating in a fiercely competitive space, mid-to-high-end solar-storage-specific DCDC modules carry higher technical barriers. Enterprises focusing on high-efficiency, high-reliability, intelligent and customized products possess strong market competitiveness. Both equipment retrofits of existing projects and supporting procurement for new-build solar-storage projects generate steady orders.

从户用小功率模块，到工商业中功率、大型电站大功率水冷模块，产品矩阵覆盖全场景，适配不同层级项目需求。依托双碳政策长效加持，光储行业长期增长确定性极强，DCDC模块赛道将持续保持高景气，是新能源企业布局的优质核心赛道。

The product portfolio covers full scenarios ranging from low-power residential modules, medium-power commercial-industrial modules to high-power water-cooled modules for large power stations, catering to multi-tier project requirements. Backed by long-term dual-carbon policies, the solar-storage industry enjoys solid long-term growth certainty. The DCDC-module track will remain highly prosperous and serves as an attractive core business direction for new-energy enterprises.