MING YANG SMART ENERGY GROUP
LIMITED
(GDR under the symbol:
"MYSE")
(a joint stock company
established under the laws of the People's Republic of China with
limited liability)
Announcement on the
Preliminary Results For 2023
The key
financial information for the year of 2023 contained in this
announcement is only the preliminary accounting data that has not
been audited by an accounting firm. The
specific information shall be based on the information disclosed in
the 2023 annual report of Ming Yang Smart Energy Group Limited (the
"Company"), and investors are advised to beware of investment
risks.
I. Key Financial Information
and Indicators for the year of 2023
Unit:
RMB100 million
|
Item
|
This
reporting period
|
Comparable period (after adjustment)
|
Comparable period
(before
adjustment)
|
Change(％)
|
|
Total
operating revenue
|
278.50
|
307.48
|
307.48
|
-9.43
|
|
Operating
profit
|
3.79
|
38.65
|
38.65
|
-90.19
|
|
Total
profit
|
3.58
|
38.58
|
38.58
|
-90.72
|
|
Net profit attributable to the
shareholders of the Listed Company
|
3.75
|
34.45
|
34.55
|
-89.11
|
|
Net profit attributable to the
shareholders of the Listed Company after deducting extraordinary
profit or loss
|
2.08
|
31.01
|
31.10
|
-93.29
|
|
Basic
earnings per share (RMB)
|
0.17
|
1.57
|
1.59
|
-89.17
|
|
Weighted
average returns on net assets(％)
|
1.34
|
14.53
|
14.57
|
A decrease
of 13.19 percentage
points
|
|
|
As at the
end of this reporting period
|
As at the
beginning of this reporting period (after
adjustment)
|
As at the
beginning of this reporting period (before
adjustment)
|
Change(％)
|
|
Total
assets
|
835.99
|
689.41
|
689.40
|
21.26
|
|
Owners'
equity attributable to shareholders of the Listed
Company
|
274.25
|
281.11
|
281.14
|
-2.44
|
|
Share
capital
|
22.72
|
22.72
|
22.72
|
-
|
|
Net assets
per share attributable to shareholders
of the
Listed Company (RMB)
|
12.07
|
12.37
|
12.37
|
-2.43
|
Note 1. The opening figures of this
report are the same as the legally disclosed year-end figures of
the previous year;
Note 2. The information in the table
is the information in the Company's consolidated financial
statements, which has not been audited, and the final results shall
be based on the Company's annual report.
II. Discussion of Operating
Results and Financial Condition
After preliminary accounting, the
Company realized operating revenue of RMB27.850 billion in 2023,
representing a decrease of 9.43% year-on-year; net profit
attributable to the shareholders of the Listed Company amounted to
RMB375 million, representing a decrease of 89.11% year-on-year; net
profit attributable to the shareholders of the Listed Company after
deducting extraordinary profit or loss amounted to RMB208 million,
representing a decrease of 93.29% year-on-year; basic earnings per
share amounted to RMB0.17, representing a decrease of 89.17%
year-on-year.
As at the end of 2023, the Company's
total assets amounted to RMB83.599 billion and owners' equity
attributable to the shareholders of the Listed Company amounted to
RMB27.425 billion, representing an increase of 21.26% and a
decrease of 2.44%, respectively, as compared with the end of the
previous year.
The reasons
for the change in results are as follows:
1. Affected by the industry cycle,
the wind power industry entered a stage of fierce price
competition, with an overall decline in the winning bid price of
wind turbines. In particular, the decline in the winning bid price
of onshore wind power was significant. The overall price of wind
turbines delivered by the Company during the period was also
affected by price fluctuations in the industry, which led to a
year-on-year decrease in the gross profit margin of sales of the
Company's wind turbine.
2. The
offshore wind power orders won by the Company for delivery were
subject to delayed delivery due to force majeure factors affecting
the implementation progress of specific projects, resulting in a
certain decrease in the sales volume of offshore wind turbines for
the current period as compared to the corresponding period of the
previous year.
3. The Company originally planned to
complete the transaction of power plant products in the fourth
quarter, but the transaction was delayed due to objective reasons
on the part of the main transaction target, which resulted in the
Company's profit from the sale of power plant products being lower
than expected.
III. RISK
WARNING
There are no significant
uncertainties of the Company which may affect the accuracy of the
preliminary results.
The key financial information for the
year of 2023 contained in this announcement is only the preliminary
accounting data that has not been audited by an accounting firm and
may differ from the information disclosed in the Company's annual
report for the year 2023, and investors are advised to beware of
investment risks.
Ming Yang Smart Energy Group Limited
11 April, 2024