Sinolink research reports recommend four investment strategies for the power equipment sector: 1) Internationalization of power equipment: the export potential of intelligent energy meters, transformers, and combined appliances is obvious, with severe supply-demand mismatch overseas, and future developments including overseas power grid investment planning, export customs exceeding expectations, and individual stocks that exceed expectations. 2) Electric power system reform: policies will drive the industry into the second growth curve. 3) Ultra high pressure transmission lines and main grid: the strong demand for outbound shipments in the second batch of wind-solar bases with multiple line gaps and future developments including the disclosure of new transmission lines, increased permeability and individual stock exceeding expectations. 4) Distribution network transformation: top-level policies and some provincial network tenders have seen a high YoY increase, and further developments include policies, tenders exceeding expectations, and individual stocks winning bids.