Core Viewpoint - *ST Tongzhou has successfully applied to remove the delisting risk warning and other risk warnings from its stock, effective June 17, following a positive audit report for the 2024 fiscal year [1][4]. Business Overview - The main business segments of *ST Tongzhou include energy sector operations, which involve 18650 lithium batteries, various polymer soft-pack batteries, high-power power supply products, lead-to-lithium battery packs, backup power, home energy storage, electric bicycle batteries, and new energy vehicle battery swap services [3]. - The second segment focuses on set-top box operations, including satellite reception engineering equipment, digital TV set-top boxes, smart terminals, digital TV overall solutions, smart home solutions, and smart platform services [3]. Financial Performance - For the fiscal year 2023, *ST Tongzhou reported a negative net profit (lower of net profit before and after non-recurring gains and losses) and revenue below 100 million yuan, leading to the implementation of delisting risk warnings starting April 23, 2024 [3]. - The company faced additional risk warnings due to negative net profits over the last three accounting years and uncertainty regarding its ability to continue as a going concern, as indicated in the 2023 annual report [3]. Legal and Operational Developments - In January 2022, *ST Tongzhou was involved in a property service contract dispute with Dazhu Holdings, resulting in pre-litigation asset preservation measures and the freezing of major bank accounts [4]. - The lawsuit with Dazhu Holdings has been settled, and the frozen accounts have been released, although other accounts remain frozen [4]. Recent Developments - As of the announcement date, the frozen funds accounted for 0.33% of the company's net assets and 0.71% of its cash balance as of the first quarter of 2025, with no significant adverse impact on daily operations [5]. - The application to remove the delisting risk warning and other risk warnings has been approved by the Shenzhen Stock Exchange [5].
002052，退市风险警报解除