Solid milled alloy chassis.
With dual linear PSU, one for analogue and one for digital.
PCB.
The SMSL M400 only used half the DAC chip I assume they are using all of it on this optimised version.
I have the M400 which sounds superb, this tempts me, though many will say that if two different DAC chips measure the same they will sound the same. Not in my opinion.
M400 PCB for comparison, including single channel SMPS.