A power supply module configured to be coupled to a direct current power supply, wherein the power supply module comprises a phase-shifted full-bridge circuit, a transformer and a controller, wherein the phase-shifted full-bridge circuit comprises a first leg and a second leg, a resonant module and a clamping module, the first leg comprises a first high-side switch and a first low-side switch, the second leg comprises a second high-side switch and a second low-side switch, the resonant module includes a resonant inductor (Lr); a first terminal of the resonant module is coupled to the middle point of the first leg, a second terminal of the resonant module (Lr) is coupled to a first terminal of the clamping module, the first terminal of the clamping module is further coupled to the primary-side winding (Pr) of the transformer, a second terminal of the clamping module is configured to be coupled to the positive electrode of the direct current power supply, and a third terminal of the clamping module is configured to be coupled to a negative electrode of the direct current power supply; the controller (200 is configured to control the phase-shifted full-bridge circuit to supply power to a load circuit of the power supply module; a working state of the phase-shifted full-bridge circuit comprises a first working state and a second working state; and when the phase-shifted full-bridge circuit runs in the first working state, the first leg is a leading leg, and the second leg is a lagging leg; and when the phase-shifted full-bridge circuit runs in the second working state, the first leg is a lagging leg, and the second leg is a leading leg; and the controller is configured to control, based on a load level of the load circuit, the phase-shifted full-bridge circuit to switch the working state; and the controller comprises: a detection terminal, wherein the detection terminal is arranged to detect the load level of the load circuit; and a drive terminal, wherein the drive terminal is arranged to send turn-on drive signals to the first high-side switch and the first low-side switch of the first leg, and the second high-side switch and the second low-side switch of the second leg, wherein the controller is configured to adjust, based on the load level detected by the detection terminal, the drive signals output by the drive terminal, to control the phase-shifted full-bridge circuit to run in the first working state or the second working state. the first leg comprises a first high-side switch and a first low-side switch, the second leg comprises a second high-side switch and a second low-side switch, the resonant module includes a resonant inductor (Lr); a first terminal of the resonant module is coupled to the middle point of the first leg, a second terminal of the resonant module (Lr) is coupled to a first terminal of the clamping module, the first terminal of the clamping module is further coupled to the primary-side winding (Pr) of the transformer, a second terminal of the clamping module is configured to be coupled to the positive electrode of the direct current power supply, and a third terminal of the clamping module is configured to be coupled to a negative electrode of the direct current power supply; the controller (200 is configured to control the phase-shifted full-bridge circuit to supply power to a load circuit of the power supply module; a working state of the phase-shifted full-bridge circuit comprises a first working state and a second working state; and when the phase-shifted full-bridge circuit runs in the first working state, the first leg is a leading leg, and the second leg is a lagging leg; and when the phase-shifted full-bridge circuit runs in the second working state, the first leg is a lagging leg, and the second leg is a leading leg; and the controller is configured to control, based on a load level of the load circuit, the phase-shifted full-bridge circuit to switch the working state; and the controller comprises: a detection terminal, wherein the detection terminal is arranged to detect the load level of the load circuit; and a drive terminal, wherein the drive terminal is arranged to send turn-on drive signals to the first high-side switch and the first low-side switch of the first leg, and the second high-side switch and the second low-side switch of the second leg, wherein a detection terminal, wherein the detection terminal is arranged to detect the load level of the load circuit; and a drive terminal, wherein the drive terminal is arranged to send turn-on drive signals to the first high-side switch and the first low-side switch of the first leg, and the second high-side switch and the second low-side switch of the second leg, wherein the controller is configured to adjust, based on the load level detected by the detection terminal, the drive signals output by the drive terminal, to control the phase-shifted full-bridge circuit to run in the first working state or the second working state.