Diagnostic:
Check U7600 for 5V, 3.3V – 0V on both
Check C7650 – 0V, resistance to ground 50Koms (OK)
Check Q6970 pin5 – PP12V_G3H - 11.6V, pin4 FET_EN_P12V_S5_R – 0V (missing enable signal), pin123 PP12V_S5 – 0V (no 12V output to U7600, gate is closed)

Check U6970 pin2 SMC_PM_G2_EN – 0V (missing enable signal from SMC)
Check SMC Power input, C5002 PP3V42_G3H – 3.4V. SMC is powered.
Conclusion:
Main issue, missing signal SMC_PM_G2_EN from...
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