Power Supply Circuit Without Charging Loop, and Power Management System

The present disclosure provides a power supply circuit without a charging loop, and a power management system. The power supply circuit comprises an alternating current switch component, a photovoltaic switching component and a direct-current bus capacitor. The alternating current switch component is configured to electrically connect a live wire of a three-phase alternating current to a direct-current bus, and cause, when an alternating current is selected to charge the direct-current bus capacitor, a voltage across two ends of a direct-current bus capacitor to steadily rise to a target voltage. The photovoltaic switching component is configured to electrically connect a photovoltaic power supply to the direct-current bus, and cause, when the photovoltaic power supply is selected to charge the direct-current bus capacitor, the voltage across the two ends of the direct-current bus capacitor to steadily rise to the target voltage. The direct-current bus capacitor is electrically connected between a positive electrode and a negative electrode of the direct-current bus. When the alternating current or the photovoltaic power supply is electrically connected to the direct-current bus, the alternating current switch component or the photovoltaic switching component can control the voltage across the two ends of the direct-current bus capacitor to stably rise to the target voltage, thereby preventing causing damage to components on the direct-current bus by a large impact current generated by a rapid rise of the voltage across the two ends of the direct-current capacitor.