Group 1: Company Overview and Financial Performance - The company achieved a revenue of 2.915 billion CNY in 2024, with a net profit attributable to shareholders of 77 million CNY [6] - The weighted average return on net assets decreased to 3.09%, a decline of 7% compared to 2023 [9] Group 2: Internal Control and Governance - The company has established a comprehensive internal control system and is committed to continuous optimization to enhance operational standards and governance [2] Group 3: Market Strategy and Value Creation - The company aims to improve its market performance through operational optimization and strengthening core competitive advantages, addressing the long-term low stock price issue [2] - Recent investment in Nanjing Yibo Enterprise Management Co., Ltd. resulted in acquiring a 55% stake, focusing on the new energy and storage industry [3] Group 4: Research and Development - The company emphasizes R&D investments to develop new products and improve processes, ensuring a leading position in technology [4] Group 5: Industry Positioning and Future Outlook - The company plans to balance short-term profitability with long-term investments by diversifying its business across various sectors, including optical communication and new energy [8]

Core Viewpoint - *ST Jinshi has successfully transformed its business focus from cigarette label printing to the renewable energy and energy storage sectors, achieving significant revenue growth and operational improvements in 2024 [1][2][4]. Financial Performance - In 2024, the company reported a revenue of 376 million yuan, a year-on-year increase of approximately 10 times, and a net profit attributable to shareholders of -4.397 million yuan, indicating a significant reduction in losses [1]. - For Q1 2025, the company achieved a revenue of 39.52 million yuan, representing a year-on-year growth of 560.65%, while the non-recurring net profit was -12.735 million yuan [1]. Business Transformation - The company has shifted its core business to focus on energy storage and new materials, establishing a diversified business model centered around energy applications, including energy storage device manufacturing and safety solutions [2]. - As of the end of 2024, the energy storage system business generated revenue of 258.18 million yuan, accounting for 68.70% of total annual revenue, while the energy storage safety and firefighting business contributed 113.66 million yuan, or 30.24% of total revenue [2]. Product Development - The company has launched various products, including distributed liquid-cooled and air-cooled energy storage systems, which are applicable in renewable energy generation, grid frequency regulation, and commercial energy storage [3]. - In the supercapacitor segment, the company is developing superactive carbon materials and supercapacitor products for applications in new energy vehicles, rail transit, and power systems [3]. Regulatory Actions - The company has submitted an application to the Shenzhen Stock Exchange to revoke its delisting risk warning, citing improved operational conditions and compliance with the standards for revocation [4]. - The approval of this application is pending review by the exchange, and the company emphasizes the importance of monitoring the review process and potential investment risks [4].