You're probably talking about the RAW-DAC1 with the AK4499EX + AK4191EQ?
The RAW-MDA1 with 2 x ES9039Q2M is a different device. There's also the RAW Pro-DAC1 with the ES9039MS Pro.
There is no RAW1 yet, but it would be perfect to make the confusion even greater

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However, all of these devices have two power supplies, one for the plus and one for the minus voltage. Whether they're housed in one or two enclosures makes no technical difference.
You may no remember, but I do. By June 2024 I owned the SMSL DO300 EX, which uses the AK4191+AK4400EX AKM chipset.
I asked you for advice if It was worthwhile to change the DO300 EX (I could return It from Amazon, no loss of money) for the D400 Pro, same AKM chipset but in a better case, a higher quality circuito board and as it's advertized by SMSL, the D400 Pro features "several regulated power supplies", while the DO300 EX only has one.
You answered me that the difference in sound quality would be minimal, It any.
I finally paid around 250 Euros more for the D400 Pro, and returned the DO300 EX. But I had the chance of having both DAC's at the same time at home and connected to my HiFi system. Nothing fancy, source is Sony's UBP X-8OO M2 UHD BD player that also plays SACD'S, DSD files (I have allnmy SACD's ripped and its tracks extracted with ISO2DSD, I rarely play and original physicsl SACD.
Integrated amp IS an inexpensive Marantz PM 6007, it's cheap, nothing fancy outer design-wise maybe a bit short on power, 45 Watts (from 20 to 20000 Hz, at 8 Ohms, both channels driven simultaneously. Speakers are also a pair of KEF Q550, and as a subwoofer, a B&W ASW608.
With all those inexpensive components, I could tell which DAC was playing.
It was a blind test, the same digital signal was getting at the same time at both DAC's, so no need for syncronization. I didn't have my eyes closed, a friend of mine changed from the DO300 EX to the D400 Pro, the horizontal line of LED's that indicates what source was playing at the time, was covered with black adhesive tape. With well recorded music, os music I know very well, as Van Halen S/T and Van Halen II MoFi SACD's, I could tell the DO300 EX from the D400 Pro.
The difference wasn't day and night, the D400 Pro has a better imaging than the DO300 EX, and so was bass (punchier, not boomy, on the D400 Pro) and a more defined midrange.
For me It was worty to pay a little more for the D400 Pro, and its body and overall finish is better than the DO300 EX, which feels flimsy compared to the D400 Pro.
If only I could get to update its firmware...