Announcement on the Preliminary Results For 2023
Source: RNS
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
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