YSDZ(SZ:002289) Zheng Quan Zhi Xing·2025-06-26 16:50Core Viewpoint - The company, Shenzhen Yushun Electronics Co., Ltd., has shown improvement in its financial performance and operational stability, addressing previous concerns regarding its ability to continue as a going concern. The company has reported significant revenue growth and has taken strategic actions to enhance its business structure and profitability [2][6][21]. Financial Performance - In 2023, the company reported a net profit attributable to shareholders of 964,400 RMB, while the net profit after deducting non-recurring gains and losses was -18,478,000 RMB, indicating a cumulative loss of 1,753,521,000 RMB over the years [8][12]. - The total operating revenue for 2023 was 155,191,700 RMB, with main business revenue of 150,334,100 RMB, reflecting a small scale of operations and negative cash flow from operating activities [8][12]. - For 2024, the company achieved an operating revenue of 220,282,400 RMB, a 41.94% increase compared to 2023, and reported a first-quarter revenue of 45,727,400 RMB in 2025, a 93.73% year-on-year growth [8][19]. Operational Developments - The company has successfully eliminated major uncertainties regarding its ability to continue operations, as evidenced by improved financial metrics and operational stability [19][21]. - The company has made strategic acquisitions, including a 75% stake in Shanghai Fubang Industrial Co., Ltd., which contributed an additional 99,145,700 RMB in revenue and 14,514,400 RMB in net profit to the consolidated financial statements in 2024 [11][19]. - The company has focused on enhancing its product offerings and expanding into new markets, particularly in the automotive sector, which has shown promising growth potential [10][11]. Risk Management - The company has addressed previous risk warnings related to its stock trading by demonstrating improved financial health and operational performance, leading to the removal of risk warnings associated with its stock [6][18]. - The company has maintained a reasonable financial structure, with a debt-to-asset ratio of 44.83% and a current ratio of 1.28, indicating a stable financial position [13][19]. - The management has implemented measures to ensure liquidity and operational continuity, including financial support from its controlling shareholder [15][21].