Can a motor saver help save electricity?

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A few years ago, power-saving equipment from abroad was marketed in China through various channels. Due to a failure to fully understand its working principles, and because the companies involved placed great emphasis on local compensation, the power factor was relatively high, around 0.95. No trial installation was carried out. Currently, a motor saver manufacturer in Shandong is promoting its products and allowing visitors to see its clients; it claims an annual power savings of 17%, with typical values ranging from 13% to 35%. It offers motor controllers for both high and low voltages, and they are connected in series at the low-voltage side of the transformer (with the high voltage side located on the lower side of the switchgear); previously, imported products were advertised as being connected in parallel. Brothers and sisters who use induction motors, could you please explain whether this technology is real? What are the disadvantages?