SOTA engineering out of Denmark by a guru who does a lot of OEM work for other companies. Optimized for DSD like the NADAC. Fabulous fit and finish and modular and thus upgradable ad finitum. I am also selling the matching amp and I recommend using them as a pair. See my formal ad here: http://www.usaudiomart.com/details/649378383-phison-audio-pd2-preampdacphonostage/ and also here for the amp: http://www.usaudiomart.com/details/649378385-phison-a2120/