A power distribution system, wherein the power distribution system comprises a plurality of power distribution equipments, and the plurality of power distribution equipments are configured to supply power to a plurality of powered devices respectively; and each power distribution equipment in the plurality of power distribution equipments comprises: a power module, configured to perform voltage conversion on an input voltage to obtain an output voltage, wherein the output voltage is a supply voltage of the power distribution equipment, wherein the power module comprises a current equalization circuit, configured to generate a current equalization signal when an output current of the power module is unequal to an output current of the power module in any other power distribution equipment in the power distribution system, wherein the current equalization signal is used to make the output current of the power module equal to the output current of the power module in the other power distribution equipment; and a cascading circuit, configured to connect an output of the power module to an output of the power module of each of the other power distribution equipments in the power distribution system, characterized in that: the number of power distribution equipments in the power distribution system is more than two; and when the power module of a power distribution equipment is faulty, the power modules in the other power distribution equipments in the power distribution system are configured to supply equal currents to the faulty power distribution equipment using the cascading circuit of the faulty power distribution equipment. a power module, configured to perform voltage conversion on an input voltage to obtain an output voltage, wherein the output voltage is a supply voltage of the power distribution equipment, wherein the power module comprises a current equalization circuit, configured to generate a current equalization signal when an output current of the power module is unequal to an output current of the power module in any other power distribution equipment in the power distribution system, wherein the current equalization signal is used to make the output current of the power module equal to the output current of the power module in the other power distribution equipment; and a cascading circuit, configured to connect an output of the power module to an output of the power module of each of the other power distribution equipments in the power distribution system, characterized in that: the number of power distribution equipments in the power distribution system is more than two; and when the power module of a power distribution equipment is faulty, the power modules in the other power distribution equipments in the power distribution system are configured to supply equal currents to the faulty power distribution equipment using the cascading circuit of the faulty power distribution equipment. the number of power distribution equipments in the power distribution system is more than two; and when the power module of a power distribution equipment is faulty, the power modules in the other power distribution equipments in the power distribution system are configured to supply equal currents to the faulty power distribution equipment using the cascading circuit of the faulty power distribution equipment.