This application provides a switching conversion circuit, including: a power module, supplying power to a switching conversion module and an integrated circuit (IC) controller; and the switching conversion module is an asymmetrical half-bridge flyback structure and includes at least a first switching transistor, a second switching transistor, a first capacitor, and a transformer. The transformer includes a first secondary-side winding and a second secondary-side winding, and the first secondary-side winding of the transformer is coupled to a load. The IC controller turns on the first switching transistor or the second switching transistor based on a value of a first voltage, so that the switching conversion module enters an operating state to supply power to the load; and turns off the first switching transistor and the second switching transistor based on a value of a second voltage, so that the switching conversion module stops supplying power to the load.