The CITIC Securities Research Report points out that as the maximum nominal battery life of listed models continues to increase, the speed of energy replenishment has become the main contradiction in resolving mileage anxiety, and public overcharging piles are in a critical period of development. The fully liquid-cooled supercharging piles launched by Huawei have the underlying support and high performance advantages of Huawei vehicles. We expect the total market space for equipment corresponding to Huawei's fully liquid-cooled overcharging piles will exceed 60 billion yuan by the end of 2024. Key areas: 1) SiC power devices that affect the key performance of charging modules, it is recommended to focus on Tianyue Advanced; 2) Liquid-cooled gun lines that have increased in value compared to traditional gun lines. We recommend focusing on Yonggui Electric and Rifeng Co., Ltd. In terms of investment pace, we believe that the short to medium term space is sufficient to support the construction and implementation of 100,000+ supercharged piles. Operators and power grids have underlying support logic. It is recommended to focus on the three leading indicators of industrial collaboration policies, new partners, and incremental construction capital.