According to the research report of Soochow Securities, it is recommended to pay attention to investment opportunities in the power grid and industrial control fields. 1) Power grid: The domestic ultra-high voltage prosperity is gradually being realized in terms of performance, starting from the 2nd quarter of 2024 in the line section to the equipment section of the converter stations in the second half of 2024; bullish on the export of smart meters and transformers to emerging countries. Focus on individual stocks: Sieyuan Electric, Hexing Electrical, XJ Electric Co., Ltd. 2) Industrial control: The decline in capital expenditure of new energy is dragging down, but the H2 base is weakening, and traditional industries still have structural growth relying on overseas markets, old reform policies, and localization. Focus on individual stocks: Shenzhen Inovance Technology, Zhejiang Sanhua Intelligent Controls.