Reporter: Carlo Iaccarino
The show took place from May, 15th through May, 18th 2025 at the M.O.C. facilities, in Munich, Germany
Originally written: June, 2025
Website with plenty of resources: High End Society

More interesting things

I'd like to add something to the Sounds Clever systems I already told you about.
I saw other things that I think can be thought of as interesting products at a low cost.

This year, UNITRA, from Poland, booked a wide exhibition area in one of the big Halles at ground floor.
They set up a big static exhibition with a lot of products of theirs. There, they set up a space where a system was playing, but it was hardly listenable, due to the Halle's background noise. Moreover, they setup a closed space, where another, bigger system was playing and where people could actually sit and listen.
I appreciated this company's proposal for two reasons.
The first one is the easier to see: their aesthetics. They decided to build separate components whose shape is heavily inspired by gear from the '70s-'80s.

So they have attracted not only the nostalgic gaze of us oldies, but also that of the very young who - it seems - now appreciate this "vintage" look a lot.

The second one may seem less obvious, but is also their best feature, in my opinion: they make practically everything in-house.
Of course, for the electronic components (resistors, capacitors, transistors, potentiometers, etc.) they necessarily source on the global market.
But for the rest - transformers, circuit boards, connectors, wiring, relays, actuators, motorized switches, etc. - they build everything themselves and, of course, design every device in-house.

This is their flagship amplifier, the WSH-805, for about €5,000. It was placed above the DSH-805 DAC, of about €3,000.

It is a totally dual-mono stereophonic amplifier. It was also exhibited in a topless version: I hope it shows you the doubling of each section, starting from the AC transformers.

The DSH-805 DAC was still a prototype, but its fascia already tells you about its very complete conversion possibilities.

Here you can see the connector side of both devices. I think it shows that this company has a very traditional design, but also a very rational one, IMHO.

And they don't just make separate components.
I think they are one of the few - if not the only ones in Europe - to build their own direct drive turntable motor (which, of course, powers their turntables), the NB-1 model, for about €1,200; and they also make their own tone-arm.

Plus, they make several types of loudspeakers.

This is their flagship loudspeaker, the ZGZ-801 MkII. It is of the sealed-box type, a kind of loading that nowadays has become unusual; is maybe this, too, part of their vintage philosophy? :-).

Another company that aims to produce affordable audio is NORDIC HI FI. It is the parent company of both the ARGON AUDIO brand that we met in the Sounds Clever group, and the VESTLYD brand.
Argon makes many speakers in addition to the Forte A5s from the Sounds Clever system, starting with their Forte A55 tower version, which is also amplified and WiFi enabled.

Here we have the Fenris A4, another powered bookshelf loudspeaker, but with no wireless connection.
It is bigger. It has several amplifiers inside and a DSP that controls them.
It has one analogue line input and one phono input; it also has the ever more present HDMI digital input for connecting a TV set.
Also this device can become the centre of home entertaining: it can even give to your TV a better sound than its default loudspeakers (or than a soundbar, most of them not quite good...). All this for only €370.

In their room, besides the Sounds Clever proposal we already saw, another system was playing, as minimalist as the former. If not a budget-oriented system, it surely was a budget-conscious one.
Music files were sent to an Argon Audio SA 2 WiFi stereo amplifier/DAC/streamer, costing €500. For its look and its features, it reminds me a lot the similar devices by WIIM.

This little all-in-one amplifier was driving a pair of V15C loudspeakers, by VESTLYD, costing about €1.900/pair. They sport a 15-inch paper driver with a coaxial compression tweeter.
It's another example of a device whose look and design go back to the classics of half a century ago.

Its sound was pleasant and involving, surely far from the severe neutrality of the more refined systems, yet more fun. Weren't my duties calling, I would have stayed there longer.

Vestlyd also makes direct drive turntables. Like many others, they are inspired to the archetypal twelvehundred, but without the high prices asked by Technics for its present "1200" range models.
Here we have the basic model, the PRO T1: for €600 you bring home the turntable, the internal pre-phono and a pre-mounted basic MM cartridge by Ortofon; not bad, for me.

Here it is the upper model, the PRO T2: for €850 , compared to the T1 we have a better motor, a better internal pre-phono and a better Ortofon premounted cartridge.

Let's stick with companies that offer affordable gear.
I just needed to say "Lucio sent me here" to receive a very warm welcome by FOSI AUDIO.

The photo highlights the two white SP601 speakers, for USD 350, no longer a novelty and already the subject of good internet reviews.
The guys from Fosi were very proud of their entry into the world of high-quality headphones with the planar magnetic i5 model, financed with a crowd-funding campaign on Kickstarter and whose price will be USD 150 (now €600 on their website).

For what a quick listen in a noisy environment is worth, I don't think they sounded bad. They were certainly light and very comfortable to wear, despite their size.
Another novelty presented to me with emphasis was the ZP3 model, with a price yet to be fixed.
In contrast to the oriental habit of churning out products full of operational possibilities, it is a "simple" totally analogue stereo pre-amplifier.
It has bass, medium and high tone controls. It has 3 inputs, one of which is balanced, and 2 outputs, one of which is balanced; the balanced sockets accept both XLR and TRS connectors.
Very clean line and small dimensions, although not Lilliputian, as oriental fashion has accustomed us.

The following picture shows its rear side: I hope it gives also the idea of this device's dimensions.

Here we see other devices more in line with the tradition of this manufacturer. Behind the headphones the new flagship DAC ZD3, for USD 150, with balanced output and a multi-purpose circular display (here our Editor's review). It is placed above the well-known ZA3 power amplifier, for USD 130, which can be both stereo and mono and which also accepts balanced and unbalanced signals (Lucio reviewed this, too). To the left of the headphones is the K7 controller, a DAC/headphone amplifier also full of controls and with Bluetooth input (yes, this, too, reviewed by Lucio).

The intruder in the group was that - relatively - large shiny device immediately behind the headphones: it was the amplifier they used to drive it and I was unable to get any further information other than that it is not of their production...

Speaking about companies focused to keep low prices for their devices, I must mention the meritorious EMOTIVA.

As you may already know, this is a manufacturer that designs its devices in the USA and manufactures them in China; it also sells directly.
All this allows it to keep prices low (but consider the prices indicated on the display signs as merely indicative compared to the price that actually appears on their website when you make an order...).
In the past I had already told you that they had opened a logistics office in Europe to manage shipments directly inside our continent, rather than organizing them from the USA.
This year I would add that, upon explicit request, they guaranteed me that for any device purchased and shipped they allow a trial period at home, with the possibility of returning it (at the buyer's expense) and having the amount paid for the purchase credited back.
Here is a sample of their products, unfortunately only displayed statically.
Yet, we have seen that, if they intrigue you, you can listen to them at home with the serenity of being able to return them without losing anything (except the shipping costs, but I think it's fair).
This is the XPS-1 Gen 2 pre-phono.

This is the XDA-3, a DAC/PRE/headphone amplifier.

Its rear side unveils its entirely balanced nature.

It also shows an analogue line input.
The analogue signal that enters this device is not converted onto digital and then processed (as it often happens in similar devices), but is kept analogue until the output stage, where the analogue output of the ESS-Sabre-based DAC section arrives, too.
Also the output volume control operates in the analogue domain, thus not degrading digital signal resolution. For the volume control circuit a digitally controlled ladder attenuator is used.
Emotiva's catalogue is full of devices. There you can find integrated amplifiers, like the TA1 and the TA2 of the BAS-X range,

and pre/power pairs, like the PT1 and the A2L+, again from the BAS-X range.

From an American company we could not help but expect a Home Theatre beast equipped with all the most up-to-date multichannel decoding and a myriad of amplified channels: here's the MR1 receiver, again from the BAS-X range.

Here we go with a self-explaining inner look:-)-

Remaining in the multichannel Audio/Video realm, they exhibited a complicated pre-processor, the XMC-2+ model.
Here you see it connected to a tablet used as a display also to show the possible adjustments, but you have to imagine it connected to your huge TV or video projector....

As usual, the view of the connection park gives a good idea of the complexity and versatility of this device.

Finally, I want to point out another new product from the company. So new, that they were able to exhibit it only because it was fresh from the factory and sent directly to the Dutch logistics centre. So, it didn't have to first be "imported" into the USA, with all the possible uncertainty and slowness due to the provisions of that Country on customs duties for goods from China. This contributed to the impossibility of determining the price at the time of the exhibition, not even approximately.
It's the CD 1, again from the BAS-X range.

It is presented as a CD transport, therefore designed to connect digitally to all the pre-amplifiers, integrated amplifiers and processors seen before. So it integrates the reading of our physical music media in a modern system dedicated to the management of musical or audiovisual files. And this alone is enough to make it interesting.
A further reason for interest is discovered, as often happens, by looking at the "B side".

Here we see not only the indispensable digital outputs, but also a normal pair of stereo analogue outputs, to "play" autonomously, without having to connect it to a digital processor.
In other words, in 2025 a manufacturer that aims at the "general public" decides to produce a new CD player. It seems like a rarity to me; and it certainly shows the consideration of this brand towards us oldies, who have our own personal collection of records, grown over time, and difficult to replace with a playlist generated by the algorithm of our music provider...

WIIM is an oriental manufacturer that immediately made itself known for its up-to-date and absolutely affordable devices.
They were also present at the show this year, in the many rooms of the various exhibitors who used its devices, mainly as streamers, also amplified, We saw an example with Audioquest and its Sounds Clever system that, in reality, used three identical Wiim sources and only changed the wiring.
But it was also present with its own fundamentally static exhibition space for all its production. Here is a "family portrait".

In that exhibition space, however, I also saw a device that intrigued me a lot.
It is the Wiim Sound, essentially a small cylindrical amplified speaker, vaguely reminiscent of a similar Ikea model (in that case produced by Sonos). The price had yet to be determined and it is expected to be marketed by the end of the year; I ventured a "for Christmas?" not receiving a denial :-)
I propose a photo that I hope also gives you a sense of the dimensions, in comparison to the exhibition catalogue that I placed next to it.

It is clearly an object designed to meet the needs of easy insertion into the home. But not only that.
It is also a concentration of technology to make it very easy to enjoy multimedia content at home wherever it is located.
In fact, inside it contains the amplification, driven by a DSP, and the electronics to function as a streamer.
It is controlled with the usual proprietary app, which can configure several of these "things" to play together, even directing to each of them the signal of any channel of a Dolby 5.1 encoded signal. This way you can create a multichannel system that is completely wireless, with the exception of the AC cable to power each "thing".
With the app you can also control the equalization, the DRC, and other gadgets.
In short, a device that seemed decidedly up to date to me.
In addition, on the front - but this word loses its meaning in a cylindrical object - a circular OLED (if I understood correctly) display also opens that shows various information, such as the volume, or the cover of the album being played.

I saw another device with a favourable quality/price ratio in the spaces that, like every year, H.E.S. grants free of charge to new companies, the Start-Up area.
It's the Octa A1 by VALORTIVA, a USA company with factories in Taiwan.
It is a stereo integrated amplifier, costing about USD 400. The sale takes place via Amazon (but you have to go to the American site), or directly on their e-commerce site, where, at the time of writing, there is an introductory offer of about USD 300.
It is a switch-mode amplifier, based on the ST-Microelectronics TDA 7492 chip, and the specified power is 35 W/channel. It has USB and Bluetooth digital inputs (so it also has a DAC inside, based on a TI PCM 1795 chip), as well as analogue line inputs.
It also has a filtered line output for the sub-woofer and a headphone output.
The external power supply - they recommend not using other manufacturers' PSUs - allows it to be small in size and has a personal aesthetic, far from the usual "boxes", which I really liked. They told me that, on request and with a - not insignificant - surcharge, the colour can be customized.
The amp was operated connected to a pair of little two-way loudspeakers, the Vista S1 model, still under development. It is useless to comment on the sound in those sacrificed circumstances.
Here's a photo: I put the pen nearby to give an idea of the proportions.

What about our friends?

There were, indeed. The exhibition is always also an opportunity to meet people with whom a certain confidence has been created over time.

Let's start with RIVIERA AUDIO LABORATORIES.
Here it is the unmissable patriarchal photo of Luca Chiomenti with the newest of his creatures.

It's the 70 W Class-A monophonic power amplifier AFM70. The price for a pair should be around €51,000 (VAT excluded).
Below we see it laid bare for the voyeuristic needs of visitors.

Luca was, as always, very proud of the APL-1/AFS32 combination, specifically developed to also offer an "entry-level" proposition for a separate pre/power amplification for around €50,000 (net of VAT).

Luca keeps on making this pre/power "entry-level" combo, following his own ideas, but also going somewhat against the requests from his actual base of customers. In fact, he told me that he continues to receive requests for higher performing models, and therefore, also more expensive. Its customer base is not interested in more (relatively) affordable solutions.
Riviera had its static and business-oriented exhibition space, illustrated above, in one of the Halles on the ground floor.
Yet, Luca lent his amplifiers to GOEBEL for driving that company's Divin Comtesse loudspeakers, costing about €60,000.

Analogue source was the humongous Discovery turntable by KRONOS.

The digital source was the (commonly used, at the show) Studio Player disc player/streamer/DAC by WADAX.

In that room I also met Miguel Alvarez, founder and president of TRIPOINT, who had equipped the entire system with his passive filters for EMI/RFI, connected to the electronics with proprietary cables and adapters. If I understood correctly, these devices provide a reference "ground" to discharge these disturbances.
Actually, sources were connected to a Troy filter, costing about €28,000, cables and adaptors included.

While the mono-blocks and the loudspeakers were connected to the upper model, the Troy Elite NG MkII: please, forgive me if I forgot to ask for its price... :-).

Mr. Alvarez was very keen to underline how all his filters are designed on a scientific basis, guaranteed by the professional background of the partners. And that each model is finalized after selections of materials, shapes and construction also carried out on the basis of extensive listening tests. He was keen to point out that all their filters are entirely passive, and that his company was the first to introduce this type of filter, in 2008.

And now, here we go with the unmissable group photo of our Greek friends from LAB 12.

The company's friendly boss, Mr. Vichos, pointed me to their new product this year, the Integre4 Mk2 Dual mono toroid integrated amplifier. The improvements, as the name suggests, have mainly been made to the power supply, which is completely separated for each channel, each equipped with a toroidal transformer. It is expected to be on the market by the end of the year, at around €7,000.

As usual for this company, you can have it in silver too - here we can see it with the protective cage on.

Mr. Vichos also said the rest of its gear was commercially successful, including the DAC 1 Reference.

It is a converter with tubes in its output stage. The conversion stage is based upon old Philips multibit chip-dacs: 8 of them work in a non-oversampling mode.
All decidedly rétro, but perfectly in sync with the renewed commercial success that NOS DACs are experiencing today, even among eastern manufacturers, normally more inclined to pursue the most up-to-date solutions.
I once again showed him my regret for their decision to prepare a static exhibition only, without the possibility of "touching with my ear" their sound. So, Mr. Vichos updated me on the further news of the house, which has absorbed most of his energies this year.
He has opened his own HiFi shop in Athens.
In the much-lamented shortage of this kind of outlets, it seems to me a praiseworthy initiative. Even more so if we think about the not-so-thriving economic conditions that an entrepreneur in Greece has to face.
He called it Lounge 64, and he organized it, as the name suggests, as a welcoming place where, as they say today, you get a listening experience.
There are various rooms set up with different systems, to show the different solutions both of devices - of various brands: it is not a LAB 12 outlet - and of environments in which to insert them.
He sent me many photos: I will show you the outside, in case you happen to be in Athens and pass by :-)
Well, it is not exactly in the centre of the city: the precise address is Sofokli Venizelou 16, Lykovrisi, Athens.

Now, let's go to MANUNTA.
This year I was unable to immortalize Mr. Marco Manunta, a fellow countryman of our Editor, who was always very busy with professional meetings, which I can only be pleased about.
I can, however, show you some interesting things that he kept on display.
Let's start with the new DAC, the Classic stereophonic digital-to-analog converter.

It is capable of processing PCM signals (up to 768 kHz / 32 bit) and DSD (up to native DSD 256 and 512 DoP) on all inputs.
It has both balanced and unbalanced outputs and many digital inputs. Among the digital inputs, I would like to point out the HDMI one, which has the pinout wired according to the PS Audio standard (as per the tradition of M2Tech devices), and the USB one, which is galvanically isolated.
Another not so common feature is that the device is able to convert any digital signal into any other before converting it into analogue: this is also what the two circular displays on the front are for. For example, I enter PCM 96/24, transform into DSD 512 and then convert to analogue.
It may seem like an audiophile perversion, but there are those (starting with PS Audio) who argue that the conversion of a DSD stream into analogue, essentially entrusted to a low-pass filter, is always more pleasant than that of PCM, which cannot avoid the more incisive brickwall filter. In fairness, I must also report the opinion of those who say that such possible problems are practically eliminated by increasing the PCM sampling frequency and, with it, the cut-off frequency of that inevitable filter. In any case, this format conversion operation is bidirectional, so it is also valid for those who want to transform everything into PCM 768/32, precisely by moving the sampling frequency much further forward (compared to the traditional 44.1 kHz of CD).
Another peculiarity is the possibility of mounting a streamer card. Here too the Engineer's rationality emerges. It is a solution that, on the one hand, allows you to have the device without the card, working just as a pure DAC. On the other, it allows you to better prepare for future updates, not essential for a DAC, but practically inevitable for a streamer that has to deal with digital types and formats decided "upstream" by the providers.
The prototype was still on display: the device is finalized, but at the time of the exhibition it had not yet entered production. They planned to market it by the summer for about €4,500.

Then there was the new Pre, the Classic stereophonic preamplifier, all analogue, with an MM-MC phono input, and five line inputs, 3 unbalanced and 2 balanced.

The outputs are also both balanced and unbalanced, the latter driven by the two Lundahl transformers that can be seen more or less in the centre in the following picture.
Although my photo came out very badly, it seems to me to convey well the rationality and cleanliness of the circuit board that houses the entire device.
This device was also still in pre-production, and the price had yet to be fixed.

Of course there was also the model that inaugurated the Classic series, the Classic stereophonic integrated amplifier.
It is rated at 60 W/channel into 8 Ohm (100 W into 4 Ohm) in continuous mode and 150 W/channel into 8 Ohm (240 W into 4 Ohm) in dynamic mode. The price this year should not exceed €4,000.
It also deserves a naked photo :-).

Pit stop

For now I'll stop here: as a second part I'd say that's enough;-)
Here is the link to the first part of my report.
Fast forward to [Part III]

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