Core Viewpoint - Shenzhen Tongzhou Electronics Co., Ltd. has successfully turned around its financial performance in 2024, primarily driven by its high-power power supply business, which significantly boosted revenue and net profit, leading to the removal of delisting risk warnings and a change in stock name [1][2]. Group 1: Financial Performance - In 2024, the company achieved revenue of 599 million yuan, a year-on-year increase of 155.52%, with a non-recurring net profit of 88.96 million yuan, resulting in a positive net asset position [1][2]. - The high-power power supply business contributed 474 million yuan to total revenue, accounting for 79.15% of the total, with a gross margin of 39% [2]. Group 2: Business Strategy - The success of the high-power power supply business is attributed to two main factors: technological synergy from the existing digital set-top box R&D team and the introduction of new shareholders who provided access to Southeast Asian server manufacturers [2]. - The company has established an independent division to create a closed-loop system for R&D, production, and sales, ensuring business sustainability [2]. Group 3: Compliance and Risk Management - The company has met the delisting removal conditions, with a non-recurring net profit of 88.96 million yuan and a positive net asset of 87 million yuan, supported by an unqualified audit opinion [3]. - The company has significantly reduced its risk exposure related to past legal issues and resolved previous bank account freezes, ensuring smooth daily operations [3].

Core Viewpoint - *ST Tongzhou reported significant growth in revenue and net profit for 2024, driven by its high-power power supply business, leading to the removal of its delisting risk warning and a name change to Tongzhou Electronics [1][5]. Financial Performance - In 2024, *ST Tongzhou achieved a revenue of 599 million yuan, representing a year-on-year increase of 155.52% [1][5]. - The net profit attributable to shareholders was 70 million yuan, with a net asset value of 87 million yuan at the end of the reporting period [5][6]. - The high-power power supply business generated 474 million yuan in revenue, accounting for 79.15% of total revenue, with a gross margin of 39% [5]. Business Development - The company attributed its growth to the efforts of its former chairman and new shareholders, who leveraged their industry experience to identify and develop the high-power power supply business [5]. - The company utilized its existing set-top box R&D team's technology and experience to successfully develop and launch high-power power supply products, which began stable supply in July 2024 [5]. Compliance and Risk Management - *ST Tongzhou confirmed that it met the criteria for the removal of the delisting risk warning, with all financial indicators audited and reported accurately [6][7]. - The company has also addressed investor compensation matters, with a total of 32.96 million yuan paid to investors, including 15.65 million yuan for recently settled cases [7].