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)
2024 First Quarterly Results
Announcement
I.
ESTIMATED RESULTS FOR THE CURRENT PERIOD
(1) Period to which the estimated
results apply
1 January 2024 to 31 March
2024.
(2) Estimated Results
1. The Company expects to achieve a
net profit attributable to the shareholders of the Listed Company
of RMB250 million to RMB350 million from January to March 2024,
representing an increase of RMB476.2647 million to RMB576.2647
million as compared with the corresponding period of the previous
year, turning losses into profits.
2. The Company expects to achieve a
net profit attributable to the shareholders of the Listed Company
after deducting extraordinary profit or loss of RMB220 million to
RMB320 million from January to March 2024, representing an increase
of RMB509.5613 million to RMB609.5613 million as compared with the
corresponding period of the previous year, turning losses into
profits.
3. The estimated results have not
been audited by the certified accountants.
II.
OPERATING RESULTS AND FINANCIAL POSITION FOR THE CORRESPONDING
PERIOD LAST YEAR
(1) The net profit
attributable to the shareholders of the Listed Company: -RMB
226.2647 million. The net profit attributable to
the shareholders of the Listed Company after deducting
extraordinary profit or loss was -RMB289.5613 million.
(2) Earning per share:
-RMB0.10.
III. MAIN REASONS FOR THE
ESTIMATED INCREASE IN RESULTS FOR THE CURRENT
PERIOD
The increase in the net profit
attributable to the shareholders of the Listed Company for the
reporting period as compared with the corresponding period of the
previous year was mainly due to the combined effect of the
following factors:
(1) Impact of the principal
operations
1. The increase in the scale of wind
turbines delivered by the Company in the first quarter of 2024
resulted in an increase in the Company's revenue from wind turbine
sales as compared with the first quarter of last year.
2. The increase in the scale of
power plants operated by the Company resulted in an increase in the
Company's revenue from power generation as compared to the first
quarter of last year.
3. An YoY increase in sales of power
station products: The Company realized a certain scale of sales of
power station products in the first quarter of 2024, resulting in
an increase in the Company's revenue from sales of power station
products as compared to the first quarter of last year.
(2) Impact of extraordinary profit
or loss
None.
(3) Effect of accounting
treatment
None.
(4) Others
None.
IV. RISK
WARNING
The estimated results are
preliminary financial information based on the professional
judgment of the finance department and have not been audited by the
certified accountants. There are no significant uncertainties of
the Company which may affect the accuracy of this results
forecast.
V. OTHER
INFORMATION
The above estimated figures are
preliminary accounting data only. Investors should refer to the
2024 First Quarterly Report to be formally announced by the Company
for specific and accurate financial data of the Company. Investors
are advised to exercise caution when dealing in the shares of the
Company.
Ming Yang
Smart Energy Group Limited
11 April, 2024