Southern Power Digital: Leader in Power Digitization, Building a New Energy Intelligence Ecosystem

In the era of deep integration between energy transition and Digital China, digitalization in the power industry has become the core engine for building new power systems. Southern Power Digital (301638), as the only digital listed platform under China Southern Power Grid, leverages its state-owned enterprise background, full-stack technological barriers, and comprehensive business layout across all scenarios. It has become a leading benchmark in the energy digitalization sector, promoting the power industry toward smarter, more autonomous, and more efficient development through technological innovation and industry implementation.

Southern Power Digital is officially known as China Southern Power Grid Digital Power Grid Research Institute Co., Ltd. It was listed on the Shenzhen Stock Exchange’s ChiNext Board on November 18, 2025. It is the fourth listed company cultivated by China Southern Power Grid, with its controlling shareholder being China Southern Power Grid Digital Power Grid Group Co., Ltd., and its actual controller is the State-owned Assets Supervision and Administration Commission of the State Council. Rooted in the digitalization of the power sector, it bears the strategic mission of supporting the digital transformation of China Southern Power Grid and building a modern digital power grid industry chain. The company has established three core business systems: power grid digitalization, enterprise digitalization, and digital infrastructure, covering the entire chain of power generation, transmission, transformation, distribution, and consumption. It also extends its service capabilities to non-electric fields such as transportation, water services, government affairs, and smart cities, creating a diversified growth pattern.

Power grid digitalization is the foundation of the company’s steady development. It focuses on building a “smart brain” for the grid, relying on technologies such as digital twins, IoT, and edge computing. The company provides core products like digital power grid intelligent operation systems and IoT sensing devices, covering key scenarios such as grid dispatching, monitoring, fault self-healing, and smart metering, ensuring safe and efficient grid operation. Enterprise digitalization deeply explores operational management needs within the power industry, developing systems for enterprise operations, asset management, and financial treasury to help clients reduce costs, increase efficiency, and achieve digital upgrades. Digital infrastructure focuses on computing power, data centers, and cloud platform construction, providing the underlying support for digital transformation. The three business areas work synergistically, balancing performance resilience and growth flexibility.

Technological barriers are the core competitive advantage of Southern Power Digital. The company has built a full-stack, independently controllable technological system encompassing cloud, management, edge, terminal, and core components. It has overcome several industry-critical core technologies, such as the自主研发国产化电力工控芯片“伏羲” (Fuxi), which has been recognized as one of the “Top Ten National Heavy Equipment” by central enterprises; launched the power industry’s first自主可控大模型“大瓦特” (Big Watt), applied in intelligent inspection and fault analysis scenarios; and developed the power IoT operating system “电鸿OS” (Dianhong OS), achieving deep hardware-software integration. To date, the company holds over a thousand authorized patents and more than two thousand software copyrights. Core technology revenue consistently accounts for over 80%, leading multiple national and provincial R&D projects, and setting over a hundred industry standards, demonstrating industry-leading technical strength.

Relying on the resource advantages of China Southern Power Grid and industry demand, Southern Power Digital has strong growth momentum. As the core service provider for power digitalization in five southern provinces and cities, the company benefits from high order certainty, accelerated construction of new power systems, and expanded investments in grid intelligence, resulting in rapid performance growth. The company also focuses on high-margin businesses such as AI applications, power robots, and digital twins, continuously optimizing its profit structure and steadily improving gross profit margins, with broad long-term growth prospects.

From an industry value perspective, energy digitalization is a key driver for achieving the “dual carbon” goals and building Digital China. The trillion-yuan market space for power grid digitalization is gradually being unlocked. As a leading enterprise in the industry chain, Southern Power Digital centers on technological innovation and industry implementation, not only promoting its own high-quality development but also driving upstream and downstream companies toward collaborative innovation, thereby constructing a safe, controllable, open, and win-win digital power grid ecosystem.

In terms of trading and investment, Southern Power Digital combines the stability of a central enterprise with the high-growth potential of a technology company, aligning with the long-term development trend of power digitalization. For investors, it is essential to adopt a long-term perspective, focusing on the company’s technological iteration, business expansion, and performance realization pace. Abandoning short-term profit pursuits and maintaining a prudent mindset will enable investors to seize industry dividends and achieve substantial gains through small wins in the long-term energy digital intelligence track.