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 Preliminary
Results for 2023
IMPORTANT NOTICE:
1. Ming Yang Smart Energy Group
Limited (hereinafter referred to as the "Company") expects its net
profit attributable to shareholders of the listed company to range
from RMB354,000,000 to RMB530,000,000 from January to December
2023, representing a decrease of RMB2,924,607,500 to
RMB3,100,607,500 compared to the same period of the previous year,
and a year-on-year decrease of 84.66% to 89.75%.
2. The Company expects to realize
net profit attributable to shareholders of listed company after
deducting extraordinary profit and losses from January to December
2023 to be RMB154,000,000 to RMB230,000,000, representing a
decrease of RMB2,880,356,700 to RMB2,956,356,700 compared to the
same period of the previous year, and a year-on-year decrease of
92.61% to 95.05%.
3. This results forecast has not
been audited by a certified public accountant.
I.
RESULTS FORECAST FOR THE CURRENT PERIOD
(I) Period for the Results
Forecast
1 January 2023 to 31 December
2023.
(II) The Results Forecast
1. The Company expects its net
profit attributable to shareholders of the listed company to range
from RMB354,000,000 to RMB530,000,000 from January to December
2023, representing a decrease of RMB2,924,607,500 to
RMB3,100,607,500 compared to the same period of the previous year,
and a year-on-year decrease of 84.66% to 89.75%.
2. The Company expects to realize
net profit attributable to shareholders of listed company after
deducting extraordinary profit and losses from January to December
2023 to be RMB154,000,000 to RMB230,000,000, representing a
decrease of RMB2,880,356,700 to RMB2,956,356,700 compared to the
same period of the previous year, and a year-on-year decrease of
92.61% to 95.05%.
3. This results forecast data has
not been audited by a certified public accountant.
II.
OPERATING RESULTS AND FINANCIAL POSITION FOR THE SAME PERIOD OF THE
PREVIOUS YEAR
(I) Net profit attributable to
shareholders of the listed company: RMB3,454,607,500, net profit
attributable to shareholders of the listed company after deducting
extraordinary profit and loss: RMB3,110,356,700.
(II) Earnings per share:
RMB1.59.
III. MAIN REASONS FOR THE DECREASE IN THE FORECAST RESULTS FOR
THE CURRENT PERIOD
The decrease in net profit
attributable to shareholders of the listed company for the
reporting period compared to the corresponding period of the
previous year was mainly due to the combined effect of the
following factors:
(I) The Impact of the Principal
Business
1. Influenced by the industry cycle,
the wind power industry has entered into a stage of fierce price
competition, and the bidding price of wind turbines has decreased
as a whole, especially the bidding price of onshore wind power has
decreased greatly. The overall price of the wind turbine delivered
by the Company for the current period was also affected by the
price fluctuations in the industry, which led to a year-on-year
decline in the gross profit margin of the Company's wind turbine
sales.
2. The Company won the bid to be
delivered offshore wind power order by force majeure factors on the
specific project implementation progress and the impact of delayed
delivery, resulting in a certain decrease in the offshore wind
turbine sales for the current period compared to the same period
last year.
3. The Company originally planned to
complete in the fourth quarter of the power station products
transactions, the main transaction subject was postponed due to
objective reasons, resulting in the Company's power station
products sold less profitable than expected.
(II) Impact of Extraordinary Profit
and Loss
None.
(III) Impact of
Accounting
None.
(IV) Others
None.
IV.
RISK WARNING
This results forecast data is the
financial data of the financial department based on its own
professional judgment for preliminary accounting, which has not yet
been audited by a certified public accountant, and the Company does
not have any significant uncertainties affecting the accuracy of
the content of this results forecast.
V.
OTHER EXPLANATORY NOTES
The above forecast data is only the
preliminary accounting data, and the specific and accurate
financial data shall be subject to the 2023 annual report formally
disclosed by the Company, so investors are advised to pay attention
to investment risks.
Ming Yang
Smart Energy Group Limited
30
January, 2024