TIDMMYSE
RNS Number : 5763R
Ming Yang Smart Energy Group Ltd
27 October 2023
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)
2023 Third Quarterly Report
IMPORTANT NOTICE
The Board of Directors, the Supervisory Committee and the
Directors, Supervisors and senior management of the Company warrant
that the information contained herein is true, accurate and
complete and that there are no false representations, misleading
statements contained in or material omissions from this quarterly
report, for which they jointly and severally accept legal
responsibility.
The person in charge of the Company, the person in charge of
accounting, and the head of the accounting firm (accounting chief)
warrant that the financial information contained herein is true,
accurate and complete.
Whether the third quarterly financial statements were audited
Yes No
I. PRINCIPAL FINANCIAL INFORMATION
(1) Principal Accounting Information and Financial
Indicators
Unit: Yuan Currency: RMB
Items This reporting Increase/decrease From the Increase/
period from this beginning (decrease)
reporting of the year from corresponding
period compared to the end period of
with the same of the Reporting last year
period of Period (%)
last year
(%)
Operating income 10,398,611,805.11 40.04 20,957,817,340.32 -3.26
------------------ -------------------- ------------------ --------------------
Net profit attributable
to shareholders
of the listed company 573,680,529.77 -48.65 1,227,801,867.37 -65.56
------------------ -------------------- ------------------ --------------------
Net profit attributable
to shareholders
of the listed company
after deducting
extraordinary profit
and loss 538,222,032.16 -45.68 1,075,426,041.29 -67.33
------------------ -------------------- ------------------ --------------------
Net cash flows from
operating activities 1,019,248,155.40 N/A -2,319,208,958.69 N/A
------------------ -------------------- ------------------ --------------------
Basic earnings per
share (RMB/share) 0.26 -36.59 0.55 -65.41
------------------ -------------------- ------------------ --------------------
Diluted earnings
per share (RMB/share) 0.26 -36.59 0.55 -65.19
------------------ -------------------- ------------------ --------------------
Decreased
Weighted average Decreased by 10.48
return on net assets by 1.38 percentage percentage
(%) 1.97 points 4.27 points
------------------ -------------------- ------------------ --------------------
As at the As at the end of last Increase/(decrease)
end of the year from the
Reporting end of last
Period year (%)
------------------ ---------------------------------------- --------------------
Total assets 80,944,154,047.39 68,940,224,911.06 17.41
------------------ ---------------------------------------- --------------------
Total equity attributable
to shareholders
of the Company 28,549,795,921.12 28,113,710,200.58 1.55
------------------ ---------------------------------------- --------------------
Note: "During the Reporting Period" means three months from the
beginning to the end of this quarter, the same as below.
(2) Extraordinary gain and loss items
Unit: Yuan Currency: RMB
Items Amount during Amount from Description
the Reporting the beginning
Period of the year
to the end
of the Reporting
Period
Profit or loss on disposal of non-current
assets -171,787.58 -4,453,765.92
--------------- ------------------ ------------
Tax rebate and exemption that is approved -
beyond authority, or incurred without
formal approval, or incurred on an
occasional basis
--------------- ------------------ ------------
Government grants (except for the
grants which are closely related to
the Company's normal business, are
in compliance with the provisions
of China and have the standard amount
or quantities in accordance with certain
standard) included in current profits
and losses 10,154,330.67 32,133,325.48
--------------- ------------------ ------------
Capital occupation fee received from -
non-financial enterprises and included
in current profit or loss
--------------- ------------------ ------------
Gain arising from the investment cost -
for the enterprise acquiring the subsidiaries,
associates and joint ventures being
less than the fair value of the identifiable
net assets of the investee at the
time of acquisition of the investment
--------------- ------------------ ------------
Gain or loss from exchange of non-monetary -
assets
--------------- ------------------ ------------
Profit or loss from entrusted investment
or asset management 52,391,395.74 147,057,861.05
--------------- ------------------ ------------
Provision for impairment of assets -
due to force majeure factors such
as natural disasters
--------------- ------------------ ------------
Gain or loss from debt restructuring -
--------------- ------------------ ------------
Corporate restructuring costs such -
as employee placement expenses and
integration costs
--------------- ------------------ ------------
Gain or loss from the excess over -
the fair value in a transaction at
obviously unfair price
--------------- ------------------ ------------
Net profit or loss of subsidiaries -
for the period from the beginning
of the period to the date of combination
arising from business combination
under common control
--------------- ------------------ ------------
Profit or loss arising from contingent -
events unrelated to the normal operations
of the Company
--------------- ------------------ ------------
Except for the effective hedging activities
related to the Company's normal operations,
profit or loss arising from changes
in fair value of financial assets
held for trading, derivative financial
assets, financial liabilities held
for trading and derivative financial
liabilities, and investment income
from disposal of financial assets
held for trading, derivative financial
assets, financial liabilities held
for trading, derivative financial
liabilities and other debt investments -17,153,588.02 -52,582,935.39
--------------- ------------------ ------------
Reversal of provision for impairment
of receivables and contract assets
individually tested for impairment 119,510.81 18,476,379.36
--------------- ------------------ ------------
Profit or loss from entrusted loans -
--------------- ------------------ ------------
Gains or losses arising from changes -
in fair value of investment properties
subsequently measured at fair value
--------------- ------------------ ------------
Effects of one-off adjustment to current -
profit or loss in accordance with
the requirements of taxation, accounting
and other laws and regulations on
current profit or loss
--------------- ------------------ ------------
Custody fee income from entrusted -
operations
--------------- ------------------ ------------
Other non-operating income and expenses
other than the above -4,475,904.06 37,763,124.49
--------------- ------------------ ------------
Other profit or loss items that meet
the definition of extraordinary profit
or loss 523,157.06 177,962.06
--------------- ------------------ ------------
Less: Amount of effects of income
tax -5,629,739.50 -26,034,648.16
--------------- ------------------ ------------
Amount of effects of minority interests
(after tax) -298,877.51 -161,476.89
--------------- ------------------ ------------
Total 35,458,497.61 152,375,826.08
--------------- ------------------ ------------
Statements on defining extraordinary items under "Explanatory
Announcement on Information Disclosure for Companies Offering Their
Securities to the Public No.1 Extraordinary Profit and Loss" as
recurrent items
Applicable Not applicable
(3) Significant changes of key accounting items and financial
indicators and the reasons for the changes
Applicable Not applicable
Items Change (%) Main reasons for change
Net profit attributable to shareholders of the -65.56 Mainly due to the decrease of the price of wind
listed company _ from the beginning of the turbines and the decrease of the delivery
year to the end of the Reporting Period scale of offshore wind turbines
----------- ---------------------------------------------------
Net profit attributable to shareholders of the -67.33 Same as above
listed company after deducting extraordinary
profit and loss _ from the beginning of the year to
the end of the Reporting Period
----------- ---------------------------------------------------
Basic earnings per share _ from the beginning of -65.41 Mainly due to the decrease of the net profit
the year to the end of the Reporting Period attributable to shareholders of the listed company
during the period
----------- ---------------------------------------------------
Diluted earnings per share _ from the beginning of -65.19 Same as above
the year to the end of the Reporting Period
----------- ---------------------------------------------------
Operating income _ for the Reporting Period 40.04 Due to the increase of the sales scale of wind
turbines and power station products
----------- ---------------------------------------------------
Net profit attributable to shareholders of the -48.65 Mainly due to the year-on-year decrease of
listed company _ for the Reporting Period exchange gains as a result of exchange rate
fluctuations,
as well as the year-on-year decrease of investment
income generated from disposal of long-term
equity investments
----------- ---------------------------------------------------
Net profit attributable to shareholders of the -45.68 Same as above
listed company after deducting extraordinary
profit and loss _ for the Reporting Period
----------- ---------------------------------------------------
Basic earnings per share_ for the Reporting Period -36.59 Mainly due to the decrease of the net profit
attributable to shareholders of the listed company
during the period
----------- ---------------------------------------------------
Diluted earnings per share _ for the Reporting -36.59 Same as above
Period
----------- ---------------------------------------------------
II. INFORMATION ON SHAREHOLDERS
(1) Total number of ordinary shareholders, total number of
holders of preference shares with voting rights restored and
shareholdings of the top 10 shareholders
Unit: share
Total number of 145,734 Total number of preference shareholders N/A
ordinary shareholders whose voting rights were restored as at the
as at the end of the end of
Reporting Period the Reporting Period (if any)
Shareholdings of the top ten shareholders
Name of shareholder Type of Number of Percentage Number of Shares pledged, marked or
shareholder shares held of shares shares held frozen
held (%) subject to
restrictions
on sale
---------------- -------------- ------------- ------------- -----------------------------
Status of Number
shares
---------------- -------------- ------------- ------------- -------------- -------------
Hong Kong Securities
Clearing Company
Limited Others 255,848,983 11.26 N/A
---------------- -------------- ------------- ------------- -------------- -------------
WISER TYSON INVESTMENT Overseas legal
CORP LIMITED person 157,062,475 6.91 N/A
---------------- -------------- ------------- ------------- -------------- -------------
Mingyang New Energy Domestic
Investment Holding non-state-owned
Group Co., Ltd. legal person 135,051,612 5.94 Pledged 119,666,667
---------------- -------------- ------------- ------------- -------------- -------------
FIRST BASE INVESTMENTS Overseas legal
LIMITED person 119,470,011 5.26 Pledged 94,532,600
---------------- -------------- ------------- ------------- -------------- -------------
Mingyang New Energy
Investment Holding
Group Co., Ltd.
special account for
pledge of convertible
corporate bonds
non-publicly issued
to professional Domestic
investors in 2023 non-state-owned
(first tranche) legal person 65,000,000 2.86 N/A 0
---------------- -------------- ------------- ------------- -------------- -------------
Citibank, National
Association Others 48,865,330 2.15 N/A 0
---------------- -------------- ------------- ------------- -------------- -------------
Overseas legal
KEYCORP LIMITED person 44,683,336 1.97 Pledged 24,000,000
---------------- -------------- ------------- ------------- -------------- -------------
National Social
Security Fund -
Portfolio 102 Others 44,461,538 1.96 N/A 0
---------------- -------------- ------------- ------------- -------------- -------------
Xiamen Bohui Yuncheng
Investment Domestic
Partnership (Limited non-state-owned
Partnership) legal person 36,647,003 1.61 Pledged 4,400,000
---------------- -------------- ------------- ------------- -------------- -------------
China Pacific Life
Insurance Co., Ltd
Dividend Personal
Dividend Others 25,073,807 1.10 N/A 0
---------------- -------------- ------------- ------------- -------------- -------------
Shareholdings of the top ten shareholders of shares not subject to lock-up
Name of shareholder Number of unrestricted outstanding shares Class and number of shares
----------------------------------------------- --------------------------------------------
Class Number
---------------- -------------- ------------- ------------- -----------------------------
Hong Kong Securities
Clearing Company RMB ordinary
Limited 255,848,983 share 255,848,983
----------------------------------------------- ------------- -----------------------------
WISER TYSON INVESTMENT RMB ordinary
CORP LIMITED 157,062,475 share 157,062,475
----------------------------------------------- ------------- -----------------------------
Mingyang New Energy
Investment Holding RMB ordinary
Group Co., Ltd. 135,051,612 share 135,051,612
----------------------------------------------- ------------- -----------------------------
FIRST BASE INVESTMENTS RMB ordinary
LIMITED 119,470,011 share 119,470,011
----------------------------------------------- ------------- -----------------------------
Mingyang New Energy
Investment Holding
Group Co., Ltd.
special account for
pledge of convertible
corporate bonds
non-publicly issued
to professional
investors in 2023 RMB ordinary
(first tranche) 65,000,000 share 65,000,000
----------------------------------------------- ------------- -----------------------------
Citibank, National RMB ordinary
Association 48,865,330 share 48,865,330
----------------------------------------------- ------------- -----------------------------
RMB ordinary
KEYCORP LIMITED 44,683,336 share 44,683,336
----------------------------------------------- ------------- -----------------------------
National Social
Security Fund - RMB ordinary
Portfolio 102 44,461,538 share 44,461,538
----------------------------------------------- ------------- -----------------------------
Xiamen Bohui Yuncheng
Investment
Partnership (Limited RMB ordinary
Partnership) 36,647,003 share 36,647,003
----------------------------------------------- ------------- -----------------------------
China Pacific Life
Insurance Co., Ltd
Dividend Personal RMB ordinary
Dividend 25,073,807 share 25,073,807
----------------------------------------------- ------------- -----------------------------
Description of Among the above shareholders, Wiser Tyson Investment Corp Limited, First Base Investments
connected Limited, Keycorp Limited, Xiamen Bohui Yuncheng Investment Partnership (Limited Partnership)
relationship or and Mingyang New Energy Investment Holding Group Co., Ltd. were under common control by the
concerted action actual controllers of the Company, namely Zhang Chuanwei, Wu Ling and Zhang Rui, and were
among the above therefore related parties of each other. Mingyang New Energy Investment Holding Group Co.,
shareholders Ltd. - special account for pledge of convertible corporate bonds non-publicly issued to
professional
investors in 2023 (first tranche) is the special account for pledge of convertible bonds
issued
by controlling shareholder, Mingyang New Energy Investment Holding Group Co., Ltd..
---------------------------------------------------------------------------------------------
Description of the top As at the end of the Reporting Period, the number of shares of the Company held through
ten shareholders and credit
top ten shareholders securities accounts by the top ten shareholders and by the top ten shareholders not subject
not subject to to trading moratorium are both 0. Save as the shareholders above, the Company is not aware
trading moratorium of other shareholders involved in margin financing and securities lending business and
involved in margin refinancing
financing and business
securities lending
business and
refinancing business
(if
any)
---------------------------------------------------------------------------------------------
Note: Within the unpledged shares of Mingyang New Energy
Investment Holding Group Co., Ltd. , 2,500,000 shares are frozen
shares.
III. OTHER REMINDERS
Other important information that needs to be brought to the
attention of investors regarding the Company's operations during
the Reporting Period
The Company convened the 40th meeting of the second session of
the Board and the 35th meeting of the second session of the
Supervisory Committee on 18 July 2023, and convened the 2023 third
extraordinary general meeting on 26 September 2023, respectively,
at which the Proposal on Changes of Partial Investment Projects of
Proceeds ( ) was considered and approved, agreeing to change the
proceeds of RMB371.2522 million originally planned to be invested
in the Construction Project of Hybrid Tower Production Base of the
2020 non-public offering shares proceeds project to be used for the
investment and construction of the 100MW wind power project of
Mingyang Huangchuan in Xinyang Huangming New Energy Co., Ltd. The
proportion of the amount involving the change in the use of
proceeds to the net proceeds from the 2020 non-public offering was
6.43%. As of the Reporting Period, the Company has opened a special
account for the proceeds and signed a supervision agreement for the
100MW wind power project of Mingyang Huangchuan in Xinyang
Huangming New Energy Co., Ltd.
IV. QUARTERLY FINANCIAL STATEMENTS
(I) Type of Audit Opinion
(II) Financial Statements
Consolidated Balance Sheet
As at 30 September 2023
Prepared by: Ming Yang Smart Energy Group Limited
Unit: Yuan Currency: RMB Audit status: Unaudited
Item 30 September 2023 31 December 2022
Current assets:
Cash and cash equivalents 10,274,696,396.52 11,157,064,897.68
------------------ ------------------
Settlement provisions
------------------ ------------------
Loans to banks and other financial institutions
------------------ ------------------
Financial assets held for trading 50,127,083.33 200,182,291.67
------------------ ------------------
Derivative financial assets
------------------ ------------------
Notes receivable 22,898,370.84
------------------ ------------------
Accounts receivable 15,115,071,189.49 10,773,783,527.49
------------------ ------------------
Financing receivables 1,188,438,826.43 1,175,566,142.98
------------------ ------------------
Prepayments 1,196,348,642.36 843,632,141.93
------------------ ------------------
Insurance premium receivables
------------------ ------------------
Due from reinsurers
------------------ ------------------
Reinsurance contract reserve receivables
------------------ ------------------
Other receivables 910,320,027.67 784,096,171.43
------------------ ------------------
Including: Interest receivable
------------------ ------------------
Dividends receivable 110,723,756.63 6,143,756.63
------------------ ------------------
Financial assets purchased under agreements to resell
------------------ ------------------
Inventories 12,608,524,234.66 8,024,077,123.53
------------------ ------------------
Contract assets 794,860,353.83 652,644,533.38
------------------ ------------------
Assets held for sale
------------------ ------------------
Non-current assets due within one year 1,805,445,430.53 630,240,740.00
------------------ ------------------
Other current assets 1,820,051,121.58 1,222,759,900.67
------------------ ------------------
Total current assets 45,786,781,677.24 35,464,047,470.76
------------------ ------------------
Non-current assets:
Loans and advances
------------------ ------------------
Debt investment
------------------ ------------------
Other debt investments
------------------ ------------------
Long-term receivables
------------------ ------------------
Long-term equity investment 523,147,990.64 487,814,402.75
------------------ ------------------
Other equity instrument investments 118,987,293.10 115,400,720.88
------------------ ------------------
Other non-current financial assets 440,689,731.53 623,620,627.97
------------------ ------------------
Investment properties
------------------ ------------------
Fixed assets 11,311,333,602.01 10,715,292,022.58
------------------ ------------------
Construction in progress 7,017,143,320.44 5,606,789,873.45
------------------ ------------------
Productive biological assets
------------------ ------------------
Oil and gas assets
------------------ ------------------
Right-of-use assets 115,229,701.39 151,387,882.99
------------------ ------------------
Intangible assets 1,619,208,277.00 1,585,047,039.31
------------------ ------------------
Development expenditures 562,130,790.52 258,860,906.13
------------------ ------------------
Goodwill 69,299,162.68 69,269,162.68
------------------ ------------------
Long-term deferred expenses 127,881,582.87 152,012,462.64
------------------ ------------------
Deferred tax assets 882,654,246.68 621,061,546.82
------------------ ------------------
Other non-current assets 12,369,666,671.29 13,089,620,792.10
------------------ ------------------
Total non-current assets 35,157,372,370.15 33,476,177,440.30
------------------ ------------------
Total assets 80,944,154,047.39 68,940,224,911.06
------------------ ------------------
Current liabilities:
Short-term borrowings 1,308,216,112.93 259,513,744.63
------------------ ------------------
Borrowing from the central bank
------------------ ------------------
Deposits and balances from banks and other financial institutions
------------------ ------------------
Financial liabilities held for trading
------------------ ------------------
Derivative financial liabilities
------------------ ------------------
Notes payable 11,142,633,824.88 7,568,416,438.14
------------------ ------------------
Accounts payable 11,788,403,417.48 9,660,320,401.29
------------------ ------------------
Receipts in advance
------------------ ------------------
Contract liabilities 7,964,856,616.10 7,565,805,012.30
------------------ ------------------
Financial assets sold under agreements to buy-back
------------------ ------------------
Customer deposits and balances from banks and other financial institutions
------------------ ------------------
Proceeds from trading of securities as broker
------------------ ------------------
Securities underwriting brokerage deposits
------------------ ------------------
Employee payroll payable 259,267,347.65 272,274,032.86
------------------ ------------------
Taxes payable 209,493,905.92 212,025,502.26
------------------ ------------------
Other payables 1,793,232,447.57 1,531,527,730.36
------------------ ------------------
Including: Interest payable
------------------ ------------------
Dividends payable 2,200,000.00 2,200,000.00
------------------ ------------------
Fees and commission payable
------------------ ------------------
Reinsurance accounts payable
------------------ ------------------
Liabilities held for sale
------------------ ------------------
Non-current liabilities due within one year 775,743,828.97 669,299,149.04
------------------ ------------------
Other current liabilities 692,830,946.40 617,889,896.94
------------------ ------------------
Total current liabilities 35,934,678,447.90 28,357,071,907.82
------------------ ------------------
Non-current liabilities:
Insurance contract liabilities
------------------ ------------------
Long-term borrowings 8,553,821,656.79 5,256,600,986.02
------------------ ------------------
Bond payables 1,429,067,871.32 1,382,153,025.30
------------------ ------------------
Including: Preference shares
------------------ ------------------
Perpetual bonds
------------------ ------------------
Lease liabilities 35,007,309.83 61,257,922.26
------------------ ------------------
Long-term payables 2,747,228,138.41 2,392,524,791.65
------------------ ------------------
Long-term employee payroll payable
------------------ ------------------
Estimated liabilities 1,961,019,169.96 1,907,130,558.08
------------------ ------------------
Deferred income 344,274,675.12 327,293,318.62
------------------ ------------------
Deferred tax liabilities 1,086,786,297.84 890,852,136.82
------------------ ------------------
Other non-current liabilities
------------------ ------------------
Total non-current liabilities 16,157,205,119.27 12,217,812,738.75
------------------ ------------------
Total liabilities 52,091,883,567.17 40,574,884,646.57
------------------ ------------------
Owners' equity (or shareholders' equity):
Paid-in capital (or share capital) 2,271,983,706.00 2,272,085,706.00
------------------ ------------------
Other equity instruments
------------------ ------------------
Including: Preference shares
------------------ ------------------
Perpetual bonds
------------------ ------------------
Capital reserve 17,012,116,152.64 16,966,961,745.66
------------------ ------------------
Less: Treasury stock 260,219,412.63 90,875,421.69
------------------ ------------------
Other comprehensive income 41,881,068.02 42,485,633.24
------------------ ------------------
Special reserve 53,890,246.19 23,532,432.80
------------------ ------------------
Surplus reserve 740,435,107.35 740,435,107.35
------------------ ------------------
General risk reserve
------------------ ------------------
Retained earnings 8,689,709,053.55 8,159,084,997.22
------------------ ------------------
Total equity (or shareholders' equity) attributable to owners of the parent 28,549,795,921.12 28,113,710,200.58
------------------ ------------------
Minority interest 302,474,559.10 251,630,063.91
------------------ ------------------
Total owners' equity (or shareholders' equity) 28,852,270,480.22 28,365,340,264.49
------------------ ------------------
Total liabilities and owners' equity (or shareholders' equity) 80,944,154,047.39 68,940,224,911.06
------------------ ------------------
Person-in-charge of the Company: Zhang Chuanwei Person-in-charge
of accounting: Liang Caifa Head of accountant firm: Zhang Feng
Consolidated Profit Statement
January to September 2023
Prepared by: Ming Yang Smart Energy Group Limited
Unit: Yuan Currency: RMB Audit status: Unaudited
Item First three quarters of 2023 First three quarters of 2022(January to
(January to September) September)
I. Total revenue 20,957,817,340.32 21,663,546,142.08
----------------------------- ------------------------------------------
Including: Operating revenue 20,957,817,340.32 21,663,546,142.08
----------------------------- ------------------------------------------
Interest income
----------------------------- ------------------------------------------
Earned premiums
----------------------------- ------------------------------------------
Fee and commission revenue
----------------------------- ------------------------------------------
II. Total operating cost 19,999,210,527.81 18,971,958,066.52
----------------------------- ------------------------------------------
Including: Operating cost 17,649,716,663.19 16,635,165,146.43
----------------------------- ------------------------------------------
Interest expenses
----------------------------- ------------------------------------------
Fee and commission expenses
----------------------------- ------------------------------------------
Surrenders
----------------------------- ------------------------------------------
Net payments for insurance claims
----------------------------- ------------------------------------------
Net provision of insurance
reserve
----------------------------- ------------------------------------------
Policyholder dividends
----------------------------- ------------------------------------------
Reinsurance expenses
----------------------------- ------------------------------------------
Taxes and surcharges 80,597,042.38 91,254,266.98
----------------------------- ------------------------------------------
Selling expenses 873,432,580.32 965,302,919.03
----------------------------- ------------------------------------------
Administrative expenses 650,286,307.77 559,834,398.51
----------------------------- ------------------------------------------
R&D expenses 727,222,738.83 848,327,448.89
----------------------------- ------------------------------------------
Financial expenses 17,955,195.32 -127,926,113.32
----------------------------- ------------------------------------------
Including: Interest expense 254,082,041.07 228,014,607.53
----------------------------- ------------------------------------------
Interest income 167,107,338.02 130,421,309.43
----------------------------- ------------------------------------------
Add: Other income 142,178,065.88 288,276,007.79
----------------------------- ------------------------------------------
Investment income ("-" means
loss) 503,468,265.78 1,076,213,883.08
----------------------------- ------------------------------------------
Including: Income from
investments in associates and
joint ventures 16,120,651.71 43,659,210.60
----------------------------- ------------------------------------------
Income from derecognition of
financial assets measured at
amortised cost
----------------------------- ------------------------------------------
Exchange gains ("-" means loss)
----------------------------- ------------------------------------------
Net exposure hedging gains ("-"
means loss)
----------------------------- ------------------------------------------
Gains on changes in fair value
("-" means loss) -52,582,935.39 64,089,383.99
----------------------------- ------------------------------------------
Credit impairment losses ("-"
means loss) -179,531,954.85 -168,177,894.90
----------------------------- ------------------------------------------
Asset impairment losses ("-"
means loss) -14,799,262.99 -3,795,142.81
----------------------------- ------------------------------------------
Gains from disposal of assets
("-" means loss) 4,922,275.45 593,782.60
----------------------------- ------------------------------------------
III. Operating profit ("-" means loss) 1,362,261,266.39 3,948,788,095.31
----------------------------- ------------------------------------------
Add: Non-operating income 51,943,595.23 24,383,391.83
----------------------------- ------------------------------------------
Less: Non-operating expenses 23,556,511.86 19,964,568.51
----------------------------- ------------------------------------------
IV. Total profits ("-" means total losses) 1,390,648,349.76 3,953,206,918.63
----------------------------- ------------------------------------------
Less: Income tax expense 115,622,184.02 398,348,186.56
----------------------------- ------------------------------------------
V. Net profit ("-" means net loss) 1,265,026,165.74 3,554,858,732.07
----------------------------- ------------------------------------------
(I) Classification by operation continuity
1. Net profit from continuing operations
("-" means net loss) 1,265,026,165.74 3,554,858,732.07
----------------------------- ------------------------------------------
2. Net profit from discontinuing
operations ("-" means net loss)
----------------------------- ------------------------------------------
(II) Classification by ownership
1. Net profit attributable to owners of
the parent ("-" means net loss) 1,227,801,867.37 3,564,979,479.13
----------------------------- ------------------------------------------
2. Minority profit or loss ("-" means net
loss) 37,224,298.37 -10,120,747.06
----------------------------- ------------------------------------------
VI. Other comprehensive income net of tax -664,368.28 -149,789,149.61
----------------------------- ------------------------------------------
(I) Other comprehensive income
attributable to owners of the parent,
net of tax -604,565.22 -149,175,688.97
----------------------------- ------------------------------------------
1. Other comprehensive income that
cannot be reclassified into profit
or loss 2,994,527.03 4,196,467.47
----------------------------- ------------------------------------------
(1) Changes arising from the
re-measurement of defined benefit
plan
----------------------------- ------------------------------------------
(2) Other comprehensive income that
cannot be transferred to profit or
loss under the equity
method
----------------------------- ------------------------------------------
(3) Changes in fair value of other
equity instrument investments 2,994,527.03 4,196,467.47
----------------------------- ------------------------------------------
(4) Change in fair value of the
enterprise's own credit risk
----------------------------- ------------------------------------------
2. Other comprehensive income that
will be reclassified into profit or
loss -3,599,092.25 -153,372,156.44
----------------------------- ------------------------------------------
(1) Other comprehensive income that
can be transferred to profit or loss
under the equity
method
----------------------------- ------------------------------------------
(2) Changes in fair value of other
debt investments
----------------------------- ------------------------------------------
(3) Amount of financial assets
reclassified into other
comprehensive income
----------------------------- ------------------------------------------
(4) Provision for credit impairment
of other debt investments
----------------------------- ------------------------------------------
(5) Cash flow hedging reserves
----------------------------- ------------------------------------------
(6) Exchange differences on
translation of foreign currency
financial statements -3,599,092.25 -153,372,156.44
----------------------------- ------------------------------------------
(7) Others
----------------------------- ------------------------------------------
(II) Other comprehensive income
attributable to minority shareholders,
net of tax -59,803.06 -613,460.64
----------------------------- ------------------------------------------
VII. Total comprehensive income 1,264,361,797.46 3,405,069,582.46
----------------------------- ------------------------------------------
(I) Total comprehensive income
attributable to owners of the parent 1,227,197,302.15 3,415,803,790.16
----------------------------- ------------------------------------------
(II) Total comprehensive income
attributable to minority interest 37,164,495.31 -10,734,207.70
----------------------------- ------------------------------------------
VIII. Earnings per share:
(I) Basic earnings per share (RMB/Share) 0.55 1.59
----------------------------- ------------------------------------------
(II) Diluted earnings per share
(RMB/Share) 0.55 1.58
----------------------------- ------------------------------------------
For business combinations under common control that occurred
during the period, the net profit realised by the combined party
prior to the combination is RMB 0 , while net profit realised by
the combined party during the previous period is RMB 0 .
Person-in-charge of the Company: Zhang Chuanwei Person-in-charge
of accounting: Liang Caifa Head of accountant firm: Zhang Feng
Consolidated Cash Flow Statement
January to September 2023
Prepared by: Ming Yang Smart Energy Group Limited
Unit: Yuan Currency: RMB Audit status: Unaudited
Item First three quarters of 2023 First three quarters of 2022
(January to September) (January to September)
I. Cash flow from operating activities:
Cash received from sales of goods and rendering of
services 16,336,690,290.12 13,373,600,067.26
----------------------------- -----------------------------
Net increase in customer deposits and placements from
banks and other financial institutions
----------------------------- -----------------------------
Net increase in loans from the central bank
----------------------------- -----------------------------
Net increase in funds borrowed from other financial
institutions
----------------------------- -----------------------------
Cash received from premiums under original insurance
contracts
----------------------------- -----------------------------
Net cash received from re-insurance business
----------------------------- -----------------------------
Net increase in deposits and investment from the
insured
----------------------------- -----------------------------
Cash received from interest, fees and commission
----------------------------- -----------------------------
Net increase in placements from banks and other
financial institutions
----------------------------- -----------------------------
Net increase in repurchase business funds
----------------------------- -----------------------------
Net cash received from securities trading brokerage
business
----------------------------- -----------------------------
Tax refunds received 152,351,047.06 371,421,506.81
----------------------------- -----------------------------
Other cash received in connection with operating
activities 911,002,094.64 691,165,340.38
----------------------------- -----------------------------
Sub-total of cash inflows from operating
activities 17,400,043,431.82 14,436,186,914.45
----------------------------- -----------------------------
Cash paid for purchase of goods and services 16,217,079,562.76 15,421,671,219.77
----------------------------- -----------------------------
Net increase in loans and advances to customers
----------------------------- -----------------------------
Net increase in deposits with central banks and other
financial institutions
----------------------------- -----------------------------
Cash paid for claims under original insurance
contract
----------------------------- -----------------------------
Net increase in placements with banks and other
financial institutions
----------------------------- -----------------------------
Cash paid for interest, fees and commission
----------------------------- -----------------------------
Cash paid for policy dividend
----------------------------- -----------------------------
Cash paid to and on behalf of employees 1,518,928,673.75 1,294,485,315.88
----------------------------- -----------------------------
Tax payments 781,288,889.63 1,423,872,743.03
----------------------------- -----------------------------
Other cash paid in connection with operating
activities 1,201,955,264.37 1,515,618,754.24
----------------------------- -----------------------------
Sub-total of cash outflows from operating
activities 19,719,252,390.51 19,655,648,032.92
----------------------------- -----------------------------
Net cash flow from operating activities -2,319,208,958.69 -5,219,461,118.47
----------------------------- -----------------------------
II. Cash flow from investing activities:
Cash received from disposal of investments 829,717,827.60 3,324,708,055.52
----------------------------- -----------------------------
Cash received from investment income 15,349,427.43 36,357,913.58
----------------------------- -----------------------------
Net cash received from disposal of fixed assets,
intangible assets and other long-term assets 950,925.75 354,444.50
----------------------------- -----------------------------
Net cash received from disposal of subsidiaries and
other business units 606,958,905.78 1,160,059,601.78
----------------------------- -----------------------------
Other cash received in connection with investing
activities 100,537,042.01 4,163,288,248.98
----------------------------- -----------------------------
Sub-total of cash inflows from investing
activities 1,553,514,128.57 8,684,768,264.36
----------------------------- -----------------------------
Cash paid for acquisition of fixed assets, intangible
assets and other long-term assets 6,331,558,726.44 6,043,023,153.16
----------------------------- -----------------------------
Cash paid for investments 300,582,115.33 6,378,724,616.77
----------------------------- -----------------------------
Net increase in pledged loans
----------------------------- -----------------------------
Net cash paid for acquisition of subsidiaries and
other business units
----------------------------- -----------------------------
Other cash paid in connection with investing
activities 33,728,000.00
----------------------------- -----------------------------
Sub-total of cash outflows from investing
activities 6,665,868,841.77 12,421,747,769.93
----------------------------- -----------------------------
Net cash flows from investing activities -5,112,354,713.20 -3,736,979,505.57
----------------------------- -----------------------------
III. Cash flow from financing activities:
Cash received from investments 52,670,000.00 6,679,401,501.28
----------------------------- -----------------------------
Including: Cash receipts from investments in
subsidiaries by minority shareholders 52,670,000.00
----------------------------- -----------------------------
Cash received from borrowings 7,636,154,201.53 4,814,108,683.00
----------------------------- -----------------------------
Other cash received in connection with financing
activities 688,222,801.39 4,421,780.67
----------------------------- -----------------------------
Sub-total of cash inflows from financing
activities 8,377,047,002.92 11,497,931,964.95
----------------------------- -----------------------------
Cash repayment of debts 574,602,466.53 2,692,784,212.43
----------------------------- -----------------------------
Cash paid for distribution of dividends, profits or
interest expenses 806,361,836.01 557,766,944.77
----------------------------- -----------------------------
Including: Dividends and profits paid by subsidiaries
to minority shareholders
----------------------------- -----------------------------
Other cash paid in connection with financing
activities 381,795,295.11 882,314,335.41
----------------------------- -----------------------------
Sub-total of cash outflows from financing
activities 1,762,759,597.65 4,132,865,492.61
----------------------------- -----------------------------
Net cash flows from financing activities 6,614,287,405.27 7,365,066,472.34
----------------------------- -----------------------------
IV. Effects of exchange rate changes on cash and cash
equivalents 104,204,680.75 385,903,277.35
----------------------------- -----------------------------
V. Net increase in cash and cash equivalents -713,071,585.87 -1,205,470,874.35
----------------------------- -----------------------------
Add: Opening balance of cash and cash equivalents 10,530,081,360.65 13,105,847,068.63
----------------------------- -----------------------------
VI. Closing balance of cash and cash equivalents 9,817,009,774.78 11,900,376,194.28
----------------------------- -----------------------------
Person-in-charge of the Company: Zhang Chuanwei Person-in-charge
of accounting: Liang Caifa Head of accountant firm: Zhang Feng
Balance sheet of the Parent
As at 30 September 2023
Prepared by: Ming Yang Smart Energy Group Limited
Unit: Yuan Currency: RMB Audit status: Unaudited
Item 30 September 2023 31 December 2022
Current assets:
Cash and cash equivalents 7,875,312,791.81 8,704,902,879.03
------------------ ------------------
Financial assets held for trading 50,127,083.33 150,182,291.67
------------------ ------------------
Derivative financial assets
------------------ ------------------
Notes receivable 18,523,138.72
------------------ ------------------
Accounts receivable 14,111,014,484.79 10,114,188,465.73
------------------ ------------------
Financing receivables 1,145,673,964.43 1,172,266,142.98
------------------ ------------------
Prepayments 1,364,561,624.78 1,086,818,475.14
------------------ ------------------
Other receivables 5,463,240,337.35 4,561,549,014.69
------------------ ------------------
Including: Interest receivable
------------------ ------------------
Dividends receivable 25,122,926.63 25,122,926.63
------------------ ------------------
Inventories 7,752,913,288.33 5,617,063,443.08
------------------ ------------------
Contract assets 544,064,785.16 317,369,774.52
------------------ ------------------
Assets held for sale
------------------ ------------------
Non-current assets due within one year 1,805,445,430.53 630,240,740.00
------------------ ------------------
Other current assets 6,315,037,871.41 5,596,065,372.87
------------------ ------------------
Total current assets 46,445,914,800.64 37,950,646,599.71
------------------ ------------------
Non-current assets:
Debt investment
------------------ ------------------
Other debt investments
------------------ ------------------
Long-term receivables
------------------ ------------------
Long-term equity investment 10,893,483,662.70 10,185,053,257.81
------------------ ------------------
Other equity instrument investments 102,017,157.07 98,745,040.22
------------------ ------------------
Other non-current financial assets 415,189,731.53 623,620,627.97
------------------ ------------------
Investment properties
------------------ ------------------
Fixed assets 468,534,001.72 388,915,678.27
------------------ ------------------
Construction in progress 499,170,461.42 167,518,716.56
------------------ ------------------
Productive biological assets
------------------ ------------------
Oil and gas assets
------------------ ------------------
Right-of-use assets 30,640,983.64 43,048,023.65
------------------ ------------------
Intangible assets 634,593,287.22 633,966,880.55
------------------ ------------------
Development expenditures 456,173,324.86 225,728,045.08
------------------ ------------------
Goodwill
------------------ ------------------
Long-term deferred expenses 6,901,892.45 5,298,157.62
------------------ ------------------
Deferred tax assets 539,246,346.24 409,486,373.89
------------------ ------------------
Other non-current assets 11,935,068,963.48 12,471,018,534.37
------------------ ------------------
Total non-current assets 25,981,019,812.33 25,252,399,335.99
------------------ ------------------
Total assets 72,426,934,612.97 63,203,045,935.70
------------------ ------------------
Current liabilities:
Short-term borrowings 259,513,744.63
------------------ ------------------
Financial liabilities held for trading
------------------ ------------------
Derivative financial liabilities
------------------ ------------------
Notes payable 10,275,623,750.60 7,494,711,291.12
------------------ ------------------
Accounts payable 13,660,911,092.47 10,289,213,026.35
------------------ ------------------
Receipts in advance
------------------ ------------------
Contract liabilities 12,697,531,000.01 11,042,682,296.07
------------------ ------------------
Employee payroll payable 123,791,241.98 116,405,003.27
------------------ ------------------
Taxes payable 18,635,805.04 106,922,977.08
------------------ ------------------
Other payables 4,128,057,996.04 2,958,172,611.54
------------------ ------------------
Including: Interest payable
------------------ ------------------
Dividends payable
------------------ ------------------
Liabilities held for sale
------------------ ------------------
Non-current liabilities due within one year 220,534,422.26 228,939,023.86
------------------ ------------------
Other current liabilities 1,315,930,340.93 1,052,298,419.39
------------------ ------------------
Total current liabilities 42,441,015,649.33 33,548,858,393.31
------------------ ------------------
Non-current liabilities:
Long-term borrowings 679,185,355.18 500,000,000.00
------------------ ------------------
Bond payables
------------------ ------------------
Including: Preference shares
------------------ ------------------
Perpetual bonds
------------------ ------------------
Lease liabilities 16,810,364.39 27,302,956.78
------------------ ------------------
Long-term payables 689,607,940.49 524,010,283.85
------------------ ------------------
Long-term employee payroll payable
------------------ ------------------
Estimated liabilities 1,851,812,206.92 1,798,758,816.30
------------------ ------------------
Deferred income 153,399,224.90 145,242,025.26
------------------ ------------------
Deferred tax liabilities 1,037,258,645.07 855,000,801.95
------------------ ------------------
Other non-current liabilities
------------------ ------------------
Total non-current liabilities 4,428,073,736.95 3,850,314,884.14
------------------ ------------------
Total liabilities 46,869,089,386.28 37,399,173,277.45
------------------ ------------------
Owners' equity (or shareholders' equity):
Paid-in capital (or share capital) 2,271,983,706.00 2,272,085,706.00
------------------ ------------------
Other equity instruments
------------------ ------------------
Including: Preference shares
------------------ ------------------
Perpetual bonds
------------------ ------------------
Capital reserve 17,089,505,641.06 17,075,559,172.30
------------------ ------------------
Less: Treasury stock 260,219,412.63 90,875,421.69
------------------ ------------------
Other comprehensive income 20,669,583.51 17,888,284.19
------------------ ------------------
Special reserve
------------------ ------------------
Surplus reserve 740,435,107.35 740,435,107.35
------------------ ------------------
Retained earnings 5,695,470,601.40 5,788,779,810.10
------------------ ------------------
Total owners' equity (or shareholders' equity) 25,557,845,226.69 25,803,872,658.25
------------------ ------------------
Total liabilities and owners' equity (or shareholders' equity) 72,426,934,612.97 63,203,045,935.70
------------------ ------------------
Person-in-charge of the Company: Zhang Chuanwei Person-in-charge
of accounting: Liang Caifa Head of accountant firm: Zhang Feng
Profit Statement of the Parent
January to September 2023
Prepared by: Ming Yang Smart Energy Group Limited
Unit: Yuan Currency: RMB Audit status: Unaudited
Item First three quarters of 2023 First three quarters of 2022
(January to September) (January to September)
I. Operating revenue 19,917,051,604.54 21,021,812,330.20
----------------------------- -----------------------------
Less: Operating cost 18,123,093,208.69 17,237,633,532.88
----------------------------- -----------------------------
Taxes and surcharges 27,447,459.99 52,850,946.18
----------------------------- -----------------------------
Selling expenses 684,765,555.30 753,649,768.39
----------------------------- -----------------------------
Administrative expenses 284,426,640.91 267,906,344.04
----------------------------- -----------------------------
R&D expenses 387,816,012.67 658,335,554.48
----------------------------- -----------------------------
Financial expenses -141,853,622.17 -269,547,134.06
----------------------------- -----------------------------
Including: Interest expense 85,341,043.10 57,636,110.25
----------------------------- -----------------------------
Interest income 161,136,052.47 115,705,334.86
----------------------------- -----------------------------
Add: Other income 89,969,411.74 255,309,124.51
----------------------------- -----------------------------
Investment income ("-" means loss) 243,013,787.85 280,857,263.62
----------------------------- -----------------------------
Including: Income from investments in
associates and joint ventures 9,577,396.71 35,305,155.72
----------------------------- -----------------------------
Income from derecognition of -
financial assets measured at
amortised cost
----------------------------- -----------------------------
Net exposure hedging gains ("-" means loss)
----------------------------- -----------------------------
Gains on changes in fair value ("-" means
loss) -52,582,935.39 64,089,383.99
----------------------------- -----------------------------
Credit impairment losses ("-" means loss) -156,893,602.88 -92,913,670.71
----------------------------- -----------------------------
Asset impairment losses ("-" means loss) -1,964,138.77 -2,223,683.05
----------------------------- -----------------------------
Gains from disposal of assets ("-" means loss) 3,497.95 113,535.36
----------------------------- -----------------------------
II. Operating profit ("-" means loss) 672,902,369.65 2,826,215,272.01
----------------------------- -----------------------------
Add: Non-operating income 47,544,842.67 2,615,078.95
----------------------------- -----------------------------
Less: Non-operating expenses 43,982,636.77 11,710,606.69
----------------------------- -----------------------------
III. Total profits ("-" means total losses) 676,464,575.55 2,817,119,744.27
----------------------------- -----------------------------
Less: Income tax expense 78,961,280.40 221,311,799.10
----------------------------- -----------------------------
IV. Net profit ("-" means net loss) 597,503,295.15 2,595,807,945.17
----------------------------- -----------------------------
(I) Net profit from continuing operations ("-" means
net loss) 597,503,295.15 2,595,807,945.17
----------------------------- -----------------------------
(II) Net profit from discontinuing operations ("-"
means net loss)
----------------------------- -----------------------------
V. Other comprehensive income, net of tax 2,781,299.32 5,526,940.79
----------------------------- -----------------------------
(I) Other comprehensive income that cannot be
reclassified into profit or loss 2,781,299.32 5,526,940.79
----------------------------- -----------------------------
1. Changes arising from the re-measurement of
defined benefit plan
----------------------------- -----------------------------
2. Other comprehensive income that cannot be
transferred to profit or loss under the equity
method
----------------------------- -----------------------------
3. Changes in fair value of other equity
instrument investments 2,781,299.32 5,526,940.79
----------------------------- -----------------------------
4. Change in fair value of the enterprise's own
credit risk
----------------------------- -----------------------------
(II) Other comprehensive income that will be -
reclassified into profit or loss
----------------------------- -----------------------------
1. Other comprehensive income that can be
transferred to profit or loss under the equity
method
----------------------------- -----------------------------
2. Changes in fair value of other debt
investments
----------------------------- -----------------------------
3. Amount of financial assets reclassified into
other comprehensive income
----------------------------- -----------------------------
4. Provision for credit impairment of other debt
investments
----------------------------- -----------------------------
5. Cash flow hedging reserves
----------------------------- -----------------------------
6. Exchange differences on translation of foreign
currency financial statements
----------------------------- -----------------------------
7. Others
----------------------------- -----------------------------
VI. Total comprehensive income 600,284,594.47 2,601,334,885.96
----------------------------- -----------------------------
VII. Earnings per share:
(I) Basic earnings per share (RMB/Share)
----------------------------- -----------------------------
(II) Diluted earnings per share (RMB/Share)
----------------------------- -----------------------------
Person-in-charge of the Company: Zhang Chuanwei Person-in-charge
of accounting: Liang Caifa Head of accountant firm: Zhang Feng
Cash Flow Statement of the Parent
January to September 2023
Prepared by: Ming Yang Smart Energy Group Limited
Unit: Yuan Currency: RMB Audit status: Unaudited
Item First three quarters of 2023 First three quarters of 2022
(January to September) (January to September)
I. Cash flow from operating activities:
Cash received from sales of goods and rendering of
services 18,120,657,406.83 14,520,890,103.81
----------------------------- -----------------------------
Tax refunds received 93,531,394.20 196,527,561.46
----------------------------- -----------------------------
Other cash received in connection with operating
activities 1,869,671,322.94 1,022,091,502.89
----------------------------- -----------------------------
Sub-total of cash inflows from operating
activities 20,083,860,123.97 15,739,509,168.16
----------------------------- -----------------------------
Cash paid for purchase of goods and services 17,046,617,932.20 16,689,214,556.04
----------------------------- -----------------------------
Cash paid to and on behalf of employees 536,190,891.83 512,609,900.48
----------------------------- -----------------------------
Tax payments 433,670,781.70 1,044,282,153.13
----------------------------- -----------------------------
Other cash paid in connection with operating
activities 1,251,910,222.37 1,997,120,093.26
----------------------------- -----------------------------
Sub-total of cash outflows from operating
activities 19,268,389,828.10 20,243,226,702.91
----------------------------- -----------------------------
Net cash flow from operating activities 815,470,295.87 -4,503,717,534.75
----------------------------- -----------------------------
II. Cash flow from investing activities:
Cash received from disposal of investments 807,071,022.00 3,632,509,961.63
----------------------------- -----------------------------
Cash received from investment income 14,843,558.38 34,727,207.61
----------------------------- -----------------------------
Net cash received from disposal of fixed assets,
intangible assets and other long-term assets 7,500.00 35,560,536.85
----------------------------- -----------------------------
Net cash received from disposal of subsidiaries and
other business units
----------------------------- -----------------------------
Other cash received in connection with investing
activities 2,485,037,087.81 4,612,252,081.76
----------------------------- -----------------------------
Sub-total of cash inflows from investing
activities 3,306,959,168.19 8,315,049,787.85
----------------------------- -----------------------------
Cash paid for acquisition of fixed assets, intangible
assets and other long-term assets 710,874,436.41 513,282,735.16
----------------------------- -----------------------------
Cash paid for investments 1,092,902,657.90 6,526,521,672.88
----------------------------- -----------------------------
Net cash paid for acquisition of subsidiaries and
other business units
----------------------------- -----------------------------
Other cash paid in connection with investing
activities 2,549,102,262.66 5,464,908,300.46
----------------------------- -----------------------------
Sub-total of cash outflows from investing
activities 4,352,879,356.97 12,504,712,708.50
----------------------------- -----------------------------
Net cash flows from investing activities -1,045,920,188.78 -4,189,662,920.65
----------------------------- -----------------------------
III. Cash flow from financing activities:
Cash received from investments 6,679,401,501.28
----------------------------- -----------------------------
Cash received from borrowings 179,185,355.18 1,023,808,683.00
----------------------------- -----------------------------
Cash received from issuance of bonds 1,245,150,720.00
----------------------------- -----------------------------
Other cash received in connection with financing
activities 260,321,377.03
----------------------------- -----------------------------
Sub-total of cash inflows from financing
activities 439,506,732.21 8,948,360,904.28
----------------------------- -----------------------------
Cash repayment of debts 259,291,906.00 470,491,000.00
----------------------------- -----------------------------
Cash paid for distribution of dividends, profits or
interest expenses 677,771,533.42 462,212,187.42
----------------------------- -----------------------------
Other cash paid in connection with financing
activities 256,459,847.50
----------------------------- -----------------------------
Sub-total of cash outflows from financing
activities 1,193,523,286.92 932,703,187.42
----------------------------- -----------------------------
Net cash flows from financing activities -754,016,554.71 8,015,657,716.86
----------------------------- -----------------------------
IV. Effects of exchange rate changes on cash and cash
equivalents 103,576,498.21 390,112,566.64
----------------------------- -----------------------------
V. Net increase in cash and cash equivalents -880,889,949.41 -287,610,171.90
----------------------------- -----------------------------
Add: Opening balance of cash and cash equivalents 8,455,177,493.26 8,978,636,203.70
----------------------------- -----------------------------
VI. Closing balance of cash and cash equivalents 7,574,287,543.85 8,691,026,031.80
----------------------------- -----------------------------
Person-in-charge of the Company: Zhang Chuanwei Person-in-charge
of accounting: Liang Caifa Head of accountant firm: Zhang Feng
Adjustments to financial statements at the beginning of the year
upon initial adoption of new accounting standards or interpretation
of standards since 2023
Applicable Not applicable
Ming Yang Smart Energy Group Limited
27 October 2023
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END
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(END) Dow Jones Newswires
October 27, 2023 06:16 ET (10:16 GMT)
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