REG - Ming Yang Smart Engy - 2025 First Quarterly Report
25/04/2025 16:45
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250425:nRSY2933Ga&default-theme=true
RNS Number : 2933G Ming Yang Smart Energy Group Ltd 25 April 2025
Stock Code: 601615
Stock
abbreviation：MYSE
Ming Yang Smart Energy Group Limited
2025 First Quarterly Report
IMPORTANT NOTICE
The board of directors, the supervisory committee and the directors, supervisors and senior management of the Company confirm that the information contained in this Quarterly Report is true, accurate, and complete without any false and misleading statements or material omissions, and severally and jointly accept legal responsibility for the above.
The person in charge of the Company, the Chief Financial Controller and the Person in charge of Accounting Department (the accounting manager), warrant the truthfulness, accuracy and completeness of the financial information contained in this quarterly report.
Whether the financial statements for the first quarter are audited
□ Yes √ No
I. Principal financial Data
(I) Principal accounting data and financial indicators
Unit: Yuan Currency: RMB
Item Reporting Period corresponding Change during the Reporting Period as compared with the corresponding period
of the previous year (%)
period last year
Operating revenue 7,703,617,576.77 5,075,351,028.23 51.78
Net profit attributable to shareholders of the Company 302,060,615.88 304,183,268.60 -0.70
Net profit attributable to shareholders of the Company after deducting 286,783,375.53 290,702,594.41 -1.35
non-recurring profit and loss
Net cash flow from operating activities -2,178,322,594.43 -1,669,896,242.16 N/A
Basic earnings per share (RMB/share) 0.13 0.13 -
Diluted earnings per share (RMB/share) 0.13 0.13 -
Weighted average return on net assets (%) 1.14 1.09 an increase of 0.05 percentage points
As at the end of the Reporting Period As at the end of the previous year Change at the end of the Reporting Period as compared with the end of the
previous year (%)
Total assets 88,323,901,021.00 86,794,501,247.32 1.76
Owners' equity attributable to shareholders of the Company 26,560,366,450.35 26,237,473,763.09 1.23
(II) Non- recurring profit and loss items and amounts
√Applicable □Not applicable
Unit: Yuan Currency: RMB
Non-recurring profit and loss items Amount for the period Explanation
Profit/loss from disposal of non-current assets (including the part offset -566,572.08
with the provision for impairment of assets)
Government subsidies (except for the grants which are closely related to the 17,478,467.79
Company's business and have the standard amount and continuing impact on the
Company's profit or loss in accordance with the national standard)
attributable to profits and losses for the period
Profit or loss from changes in fair value arising from held-for-trading -20,702,269.25 -
financial assets by non-financial company and financial liabilities, and
profit or loss arising from disposal of held-for-trading financial assets and
financial liabilities other than effective hedging business related to the
Company's normal business operations
Fund possession fee received from non-financial enterprises attributable to
profits and losses for the period
Profit or loss from entrusting others to invest or manage assets 34,593,815.97
Profit or loss from external entrusted loans
Asset impairment provisions due to force majeure factors such as natural
disasters
Reversal of provision made for impairment of receivables that are individually 960,456.32 -
tested for impairment
Gains when the investment cost of acquiring a subsidiary, an associate and a
joint venture is less than the fair value of the identifiable net assets of
the invested entity
The current net profit and loss of subsidiary resulting from combination under
common control from the beginning of the period to consolidation date
Profit or loss from exchange of non-monetary assets
Profit or loss from debt restructuring
One-off expenses arising from discontinued continuing activities of the
company such as staff settlement expenses
Impact on the current profit or loss by one-off adjustment according to laws
and regulations related to tax and accounting
Share payment expenses recognized due to cancelling and amending share option
incentive scheme
Profit or loss arising from the changes in fair value of staff salary payable
in respect of shares payment in cash after the day of right exercise
Profit or loss from changes in fair value of investment properties
subsequently measured in the fair value mode
Gains that exceed the fair value in transactions with unfair price
Profit or loss arising from contingencies irrelevant to the Company's normal
business operations
Custody fee income from entrusted operation
Other non-operating income and expenses excluding the aforesaid items -14,870,018.58
Other profit/loss items that meet the definition of non-recurring profit/loss
Less: Effect of income tax 1,544,217.22
Effect of minority interests (after tax) 72,422.60
Total 15,277,240.35
Explanation on defining items that are not illustrated in the Explanatory
Announcement on Information Disclosure for Companies Offering Their Securities
to the Public No. 1 - Non- recurring Gain or Loss as non- recurring profit and
loss items with significant amounts, and defining the non-recurring profit and
loss items listed in the "Explanatory Announcement on Information Disclosure
for Companies Offering Their Securities to the Public No. 1 - Non- recurring
Gain or Loss" as recurring gain or loss items.
□ Applicable √ Not applicable
(III) Changes for the major accounting data and financial indicators and the reasons thereof
√ Applicable □ Not applicable
Item name Percentage Main reason(s)
change (%)
Operating revenue 51.78 Mainly due to the increase in the sales of wind turbines for the current
period.
II. SHAREHOLDER INFORMATION
(I) Total number of shareholders of ordinary shares and shareholders of
preference shares with restored voting rights and shareholdings of the top ten
shareholders
Unit: Shares
Total number of shareholders of ordinary shares as at the end of the Reporting 132,605 Total number of shareholders of preference shares with restored voting rights 0
Period as at the end of the Reporting Period (if any)
Shareholdings of top 10 shareholders (excluding shares lent through
refinancing)
Name of shareholders Nature of Number of Shareholding Number of Pledged, marked or frozen
shareholder shares held percentage shares
(%) subject
to selling
restrictions
Status of Number
shares
WISER TYSON INVESTMENT CORP LIMITED Overseas legal person 157,062,475 6.91 - Nil -
FIRST BASE INVESTMENTS LIMITED Overseas legal person 119,470,011 5.26 - Pledged 114,000,000
Mingyang New Energy Investment Holding Group Co., Ltd. Domestic non-state-owned legal persons 113,591,612 5.00 - Nil
Hong Kong Securities Clearing Company Limited Other 64,844,246 2.85 - Nil -
Mingyang New Energy Investment Holding Group Co., Ltd. - Special pledge Domestic non-state-owned legal persons 50,640,000 2.23 - Pledged 50,640,000
account for non-public issuance of exchangeable corporate bonds (first
tranche) to professional investors in 2023
KEYCORP LIMITED Overseas legal person 44,683,336 1.97 - Pledged 8,390,000
Ningbo Boyun Tiancheng Venture Investment Partnership (Limited Partnership) Domestic non-state-owned legal persons 36,647,003 1.61 - Nil -
China Pacific Life Insurance Co., Ltd. - Dividends - Personal Dividends Other 36,588,407 1.61 - Nil -
Mingyang New Energy Investment Holding Group Co., Ltd. - Special pledge Domestic non-state-owned legal persons 35,820,000 1.58 - Pledged 35,820,000
account for non-public issuance of exchangeable corporate bonds (first
tranche) to professional investors in 2024
Bank of Communications Co., Ltd. - HSBC Jintrust Low Carbon Pioneer Equity Other 35,323,583 1.56 - Nil -
Securities Investment Fund
Shareholdings of top 10 shareholders not subject to selling restrictions
(excluding lending of shares through refinancing)
Name of shareholders Number of shares not subject to selling restrictions held Type and number of shares
Type Number
WISER TYSON INVESTMENT CORP LIMITED 157,062,475 Ordinary shares denominated in RMB 157,062,475
FIRST BASE INVESTMENTS LIMITED 119,470,011 Ordinary shares denominated in RMB 119,470,011
Mingyang New Energy Investment Holding Group Co., Ltd. 113,591,612 Ordinary shares denominated in RMB 113,591,612
Hong Kong Securities Clearing Company Limited 64,844,246 Ordinary shares denominated in RMB 64,844,246
Mingyang New Energy Investment Holding Group Co., Ltd. - Special pledge 50,640,000 Ordinary shares denominated in RMB 50,640,000
account for non-public issuance of exchangeable corporate bonds (first
tranche) to professional investors in 2023
KEYCORP LIMITED 44,683,336 Ordinary shares denominated in RMB 44,683,336
Ningbo Boyun Tiancheng Venture Investment Partnership (Limited Partnership) 36,647,003 Ordinary shares denominated in RMB 36,647,003
China Pacific Life Insurance Co., Ltd. - Dividends - Personal Dividends 36,588,407 Ordinary shares denominated in RMB 36,588,407
Mingyang New Energy Investment Holding Group Co., Ltd. - Special pledge 35,820,000 Ordinary shares denominated in RMB 35,820,000
account for non-public issuance of exchangeable corporate bonds (first
tranche) to professional investors in 2024
Bank of Communications Co., Ltd. - HSBC Jintrust Low Carbon Pioneer Equity 35,323,583 Ordinary shares denominated in RMB 35,323,583
Securities Investment Fund
Information of the above-mentioned shareholders' related relationships or (1) Due to the non-public issuance of exchangeable corporate bonds by the
concerted actions controlling shareholder, Mingyang New Energy Investment Holding Group Co.,
Ltd., the shares were pledged to Shenwan Hongyuan Securities Co., Ltd. through
the transfer and registration with China Securities Depository and Clearing
Co., Ltd., and independently registered as shareholder accounts, "Mingyang New
Energy Investment Holding Group Co., Ltd. - Special pledge account for
non-public issuance of exchangeable corporate bonds (first tranche) to
professional investors in 2023" and "Mingyang New Energy Investment Holding
Group Co., Ltd. - Special pledge account for non-public issuance of
exchangeable corporate bonds (first tranche) to professional investors in
2024". Mingyang New Energy Investment Holding Group Co., Ltd. holds a total of
200,051,612 shares of the Company.
(2) The above-mentioned shareholders, WISER TYSON INVESTMENT CORP LIMITED and
Mingyang New Energy Investment Holding Group Co., Ltd. (including "Mingyang
New Energy Investment Holding Group Co., Ltd. - Special pledge account for
non-public issuance of exchangeable corporate bonds (first tranche) to
professional investors in 2023" and "Mingyang New Energy Investment Holding
Group Co., Ltd. - Special pledge account for non-public issuance of
exchangeable corporate bonds (first tranche) to professional investors in
2024"), FIRST BASE INVESTMENTS LIMITED , KEYCORP LIMITED and Ningbo Boyun
Tiancheng Partnership (Limited Partnership) is under the control of Zhang
Chuanwei, Wu Ling and Zhang Rui, the de facto controllers of the Company, and
therefore are related parties to each other.
Explanation of the participation of the top 10 shareholders and top 10 At the end of the Reporting Period, the top 10 shareholders and the top 10
shareholders who are not subject to selling restrictions in margin trading and shareholders not subject to selling restrictions of the Company held 0 shares
refinancing business (if any) of the Company through their credit securities accounts
Explanation of the participation of the shareholders who hold more than 5%,
top 10 shareholders and top 10 shareholders who are not subject to selling
restrictions in refinancing and borrowing business
□ Applicable √ Not applicable
Changes of top 10 shareholders and top 10 shareholders who are not subject to
selling restrictions in refinancing business due to refinancing
borrowing/repayment as compared with last period.
□ Applicable √ Not applicable
III. OTHER REMINDERS
Other important information about the Company's operation in the Reporting
Period that investors should be reminded of
□ Applicable √ Not applicable
IV. QUARTERLY FINANCIAL STATEMENTS
(I) Audit opinion type
□ Applicable √ Not applicable
(II) Financial statements
Consolidated Balance Sheet
31 March 2025
Prepared by: Ming Yang Smart Energy Group Limited
Unit: Yuan Currency: RMB Audit type: Unaudited
Item 31 March 2025 31 December 2024
Current assets:
Cash 13,278,125,326.32 14,583,771,022.88
Deposit reservation for balance
Placements with banks and other financial institutions
Trading financial assets 1,514,561,191.10 1,182,821.44
Derivative financial assets
Bills receivable 30,523,868.98 33,580,281.79
Accounts receivable 14,529,013,266.17 13,776,923,643.11
Receivables financing 761,345,322.24 964,286,203.65
Funds paid in advance 1,424,850,553.33 716,624,965.91
Premiums receivable
Reinsurance accounts receivable
Deposits receivable from reinsurance contracts
Other receivables 1,109,571,822.52 1,206,031,526.58
Including: Interests receivable
Dividends receivable 75,040,000.00 196,912,115.57
Purchases of resold financial assets
Inventories 14,292,129,154.66 13,537,532,115.73
Including: data resources
Contract assets 885,340,917.48 662,942,444.38
Assets held for sale 471,478,355.77
Non-current assets due within one year 1,429,250,451.34 1,982,432,437.08
Other current assets 2,361,434,015.67 2,189,300,251.46
Total current assets 51,616,145,889.81 50,126,086,069.78
Non-current assets:
Loans and advances granted
Debt investments
Other debt investments
Long-term receivables 10,000,000.00 10,000,000.00
Long-term equity investments 808,576,458.43 804,763,159.59
Other equity instrument investments 67,944,764.71 131,963,004.53
Other non-current financial assets 606,891,451.75 615,540,590.66
Investment property 42,478,363.55 42,906,034.21
Fixed assets 15,531,117,792.84 14,437,903,663.54
Construction in progress 3,757,211,490.22 4,988,640,821.26
Biological assets for production
Fuel assets
Right-of-use assets 186,384,459.43 254,570,604.39
Intangible assets 2,452,373,564.90 2,482,930,280.67
Including: data resources
Development expenditure 313,287,365.21 227,008,615.55
Including: data resources
Goodwill 71,177,056.47 68,569,375.91
Long-term deferred expenses 55,544,108.83 58,335,702.92
Deferred income tax assets 1,237,973,147.50 1,220,487,147.40
Other non-current assets 11,566,795,107.35 11,324,796,176.91
Total non-current assets 36,707,755,131.19 36,668,415,177.54
Total assets 88,323,901,021.00 86,794,501,247.32
Current liabilities:
Short-term borrowings 3,314,476,053.20 1,576,852,627.32
Borrowings from central bank
Placements funds
Trading financial liabilities
Derivative financial liabilities
Bills payable 10,417,313,059.30 9,517,195,130.76
Accounts payable 13,075,579,654.48 13,016,725,356.61
Funds received in advance 510,579.71 1,400,516.31
Contract liabilities 8,592,579,785.56 9,289,672,830.58
Funds from disposal of repurchased financial assets
Deposit taking and deposit in inter-bank market
Customer deposits for trading in securities
Customer deposits for securities underwriting
Staff remuneration payable 254,771,761.45 365,867,281.70
Taxes payable 152,998,821.24 179,828,757.30
Other payables 2,322,264,486.80 2,471,345,185.17
Including: Interests payable
Dividends payable 2,200,000.00 2,200,000.00
Handling charges and commissions payable
Reinsurance accounts payable
Liabilities held for sale 265,940,037.74
Non-current liabilities due within one year 1,666,432,538.57 1,628,453,578.61
Other current liabilities 727,644,961.72 824,283,468.88
Total current liabilities 40,524,571,702.03 39,137,564,770.98
Non-current liabilities:
Deposits for insurance contracts
Long-term borrowings 13,831,660,705.03 13,941,868,567.24
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 125,732,035.63 179,232,500.52
Long-term payables 3,443,467,661.50 3,402,243,662.97
Long-term staff remuneration payable
Projected liabilities 1,647,360,888.15 1,618,197,535.67
Deferred income 358,023,470.41 363,033,611.54
Deferred income tax liabilities 743,633,199.71 889,135,406.28
Other non-current liabilities
Total non-current liabilities 20,149,877,960.43 20,393,711,284.22
Total liabilities 60,674,449,662.46 59,531,276,055.20
Owners' equity (or shareholders' equity):
Paid-up capital (or share capital) 2,271,496,706.00 2,271,594,206.00
Other equity instruments
Including: Preferred shares
Perpetual bond
Capital reserve 16,832,870,017.64 16,833,342,902.64
Less: Treasury shares 1,310,111,118.52 1,310,681,503.52
Other comprehensive income 36,934,151.70 34,177,712.67
Special reserve 145,796,031.98 127,720,399.63
Surplus reserve 800,205,863.05 800,205,863.05
General risk provision
Retained earnings 7,783,174,798.50 7,481,114,182.62
Total equity attributable to the owners of the parent company (or 26,560,366,450.35 26,237,473,763.09
shareholders' equity)
Minority interests 1,089,084,908.19 1,025,751,429.03
Total owners' equity (or shareholders' equity) 27,649,451,358.54 27,263,225,192.12
Total liabilities and owners' equity (or shareholders' equity) 88,323,901,021.00 86,794,501,247.32
Person-in-charge of the Company: Zhang Chuanwei
Person-in-charge of accounting affairs: Fang Meng
Head of the accounting department: Zhang Feng
Consolidated Income Statement
January to March 2025
Prepared by: Ming Yang Smart Energy Group Limited
Unit: Yuan Currency: RMB Audit type: Unaudited
Item First quarter of 2025 First quarter of 2024
I. Total operating revenue 7,703,617,576.77 5,075,351,028.23
Including: Revenue from operations 7,703,617,576.77 5,075,351,028.23
Interest income
Premiums earned
Handling charges and commission income
II. Total cost of sales 7,459,093,892.31 4,866,710,301.51
Including: Operating cost 6,687,622,367.08 4,221,066,854.14
Interest expenses
Handling charges and commission expenses
Surrender payment
Net expenditure for compensation payment
Net provision for insurance liability
Policyholder dividend expenses
Reinsurance costs
Taxes and surcharges 33,850,508.26 22,369,695.64
Selling expenses 148,934,608.72 115,317,543.52
Administrative expenses 266,196,299.56 266,527,921.83
Research and development expenses 213,473,892.05 190,100,461.51
Finance costs 109,016,216.64 51,327,824.87
Including: Interest expenses 134,559,444.18 99,218,179.22
Interest income 49,050,359.83 59,694,702.72
Add: Other gains 29,943,633.77 146,805,016.14
Investment income (loss is represented by "-") 127,534,513.28 64,186,555.02
Including: Gains from investment in associates and joint ventures 11,602,818.66 5,770,857.67
Derecognition gains on financial assets measured at amortized cost
Gains from foreign currency exchange (loss is represented by "-")
Gains from net exposure to hedging (loss is represented by "-")
Gains from changes in fair value (loss is represented by "-") -20,702,269.25 -19,764,519.42
Credit impairment loss (loss is represented by "-") -37,874,350.17 -14,274,040.64
Asset impairments loss (loss is represented by "-") 5,893,230.11 4,854,131.18
Gains from disposal of assets (loss is represented by "-") -295,160.70 -1,165,626.23
III. Profit from operations (loss is represented by "-") 349,023,281.50 389,282,242.77
Add: Non-operating income 1,013,897.46 487,267.12
Less: Non-operating expenses 16,155,327.43 38,851,043.78
IV. Total profit (total loss is represented by "-") 333,881,851.53 350,918,466.11
Less: Income tax expenses 13,860,146.83 36,803,989.34
V. Net profit (net loss is represented by "-") 320,021,704.70 314,114,476.77
(I) Classified by continuity of operation
1. Net profit from continuing operations (net loss expressed with "-") 235,556,906.65 314,114,476.77
2. Net profit from discontinued operations (net loss expressed with "-") 84,464,798.05
(II) Classified by ownership of equity
1. Net profit attributable to shareholders of the parent company (net loss 302,060,615.88 304,183,268.60
expressed with "-")
2. Gains or losses of minority interests (net loss expressed with "-") 17,961,088.82 9,931,208.17
VI. Net other comprehensive income after taxes 3,005,069.69 1,103,350.26
(I) Net other comprehensive income attributable to owners of the parent 2,756,439.03 1,091,871.56
company after taxes
1. Items that may not be reclassified to profit or loss 1,442,200.68 1,829,730.45
(1) Changes from the re-measurement of defined benefit plans
(2) Other comprehensive income that may not be reclassified to profit or loss
under the equity method
(3) Changes in fair value of investments in other equity instruments 1,442,200.68 1,829,730.45
(4) Changes in fair value of enterprise's own credit risk
2. Items that may be reclassified to profit or loss 1,314,238.35 -737,858.89
(1) Other comprehensive income that may be reclassified to profit or loss
under the equity meth
(2) Changes in fair value of other debt investments
(3) Financial assets reclassified into other comprehensive income
(4) Credit impairment provision for other debt investments
(5) Reserve for cash flow hedging
(6) Exchange differences from translation of financial statements 1,314,238.35 -737,858.89
(7) Others
(II) Net other comprehensive income attributable to minority interests after 248,630.66 11,478.70
taxes
VII. Total comprehensive income 323,026,774.39 315,217,827.03
(I) Total comprehensive income attributable to owners of the parent company 304,817,054.91 305,275,140.16
(II) Total comprehensive income attributable to minority interests 18,209,719.48 9,942,686.87
VIII. Earnings per share:
(I) Basic earnings per share (RMB per share) 0.13 0.13
(II) Diluted earnings per share (RMB per share) 0.13 0.13
For the business combination under common control effected in the current
period, the net profit recognised by the merged party before the combination
was RMB0, and the net profit recognised by the merged party in the previous
period was RMB 0.
Person-in-charge of the Company: Zhang Chuanwei
Person-in-charge of accounting affairs: Fang Meng
Head of the accounting department: Zhang Feng
Consolidated Cash Flow Statement
January to March 2025
Prepared by: Ming Yang Smart Energy Group Limited
Unit: Yuan Currency: RMB Audit Type: Unaudited
Item First quarter First quarter
of 2025 of 2024
I. Cash flow from operating activities:
Cash received from sales of goods and provision of services 5,586,349,507.05 5,094,074,349.36
Net increase in deposits from customers and placements from banks and other
financial institutions
Net increase in borrowings from central bank
Net increase in placements from other financial institutions
Cash received from premiums of original insurance contracts
Net cash received from reinsurance business
Net increase in deposits from policyholders and investments
Cash received from interest, handling charges and commissions
Net increase in capital due to banks and other financial institutions
Net increase in repurchases business fund
Net cash received from trading in securities
Receipt of tax rebates 7,429,758.33 41,527,127.25
Other cash received from activities relating to operation 185,655,251.40 196,865,120.07
Sub-total of cash inflow from operating activities 5,779,434,516.78 5,332,466,596.68
Cash paid for goods purchased and services rendered 6,318,694,921.47 5,645,544,529.08
Net increase in loans and advances to customers
Net increase in placements with central bank and other financial institutions
Cash paid for claims on original insurance contracts
Net increase in placements with banks and other financial institutions
Cash payment for interest, handling charges and commissions
Cash payment for policyholder dividend
Cash paid to and on behalf of staff 800,027,088.52 663,324,637.94
Taxes paid 363,673,033.11 202,179,818.54
Other cash paid for activities relating to operating activities 475,362,068.11 491,313,853.28
Sub-total of cash outflow from operating activities 7,957,757,111.21 7,002,362,838.84
Net cash flows generated from operating activities -2,178,322,594.43 -1,669,896,242.16
II. Cash flow generated from investment activities:
Cash received from disposal of investments 639,000,000.00 713,333,027.85
Cash received from gains in investments 182,403,526.53 458,791.66
Net cash received from disposal of fixed assets, intangible assets and other 173,773.00 562,985.25
long-term assets
Net cash received from disposal of subsidiaries and other operating entities 36,442,802.91
Other cash received relating to investment activities 36,708,865.24 50,000,000.00
Sub-total of cash inflow from investment activities 894,728,967.68 764,354,804.76
Cash paid for purchase of fixed assets, intangible assets and other long-term 761,341,107.80 2,562,522,261.13
assets
Cash paid for investment 1,557,702,182.99 62,769,635.04
Net increase in pledged loans
Net cash paid for acquiring subsidiaries and other operating entities 8,543,494.07
Other cash paid relating to investment activities
Sub-total of cash outflow from investment activities 2,327,586,784.86 2,625,291,896.17
Net cash flow generated from investment activities -1,432,857,817.18 -1,860,937,091.41
III. Cash flow from financing activities:
Proceeds received from investments 40,006,944.45 510,770,000.00
Including: Proceeds received by subsidiaries from minority interests' 40,006,944.45
investment
Cash received from borrowings 1,929,580,896.98 5,358,708,424.22
Other cash received relating to financing activities 711,436,226.25
Sub-total of cash inflow from financing activities 2,681,024,067.68 5,869,478,424.22
Cash paid for repayment of debts 254,958,067.82 591,069,571.81
Cash payments for dividend and profit distribution or interest repayment 111,705,681.20 91,220,751.68
Including: Dividend and profit paid by subsidiaries to minority interests
Other cash paid relating to financing activities 38,403,396.80 1,127,134,020.36
Sub-total of cash outflow from financing activities 405,067,145.82 1,809,424,343.85
Net cash flow generated from financing activities 2,275,956,921.86 4,060,054,080.37
IV. Effect on cash and cash equivalents due to changes in foreign exchange 242,010.36 1,525,675.46
rates
V. Net increase in cash and cash equivalents -1,334,981,479.39 530,746,422.26
Add: Balance of cash and cash equivalents at the beginning of the period 14,217,771,011.92 12,070,683,635.67
VI. Balance of cash and cash equivalents at the end of the period 12,882,789,532.53 12,601,430,057.93
Person-in-charge of the Company: Zhang Chuanwei
Person-in-charge of accounting affairs: Fang Meng
Head of the accounting department: Zhang Feng
Balance Sheet of the Parent Company
31 March 2025
Prepared by: Ming Yang Smart Energy Group Limited
Unit: Yuan Currency: RMB Audit Type: Unaudited
Item 31 March 31 December
2025 2024
Current assets:
Cash 8,169,940,466.62 10,313,010,044.29
Trading financial assets 1,404,397,685.11 1,182,821.44
Derivative financial assets
Bills receivable
Accounts receivable 14,804,178,413.71 13,000,209,778.03
Receivables financing 729,296,840.79 912,994,530.43
Funds paid in advance 1,409,494,706.12 887,889,018.48
Other receivables 7,336,685,029.44 6,471,004,606.58
Including: Interests receivable
Dividends receivable 105,728.67 18,979,170.00
Inventories 5,848,257,248.05 7,310,936,330.66
Including: Data resources
Contract assets 617,721,411.17 517,883,355.45
Assets held for sale
Non-current assets due within one year 1,429,250,451.34 1,982,432,437.08
Other current assets 5,019,899,369.00 5,026,127,999.89
Total current assets 46,769,121,621.35 46,423,670,922.33
Non-current assets:
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 13,340,598,173.44 12,826,685,825.20
Other equity instrument investments 15,493,332.56 85,147,270.95
Other non-current financial assets 384,835,951.46 377,111,156.10
Investment property
Fixed assets 973,911,885.68 994,569,830.08
Construction in progress 572,430,421.50 549,297,292.93
Biological assets for production
Fuel assets
Right-of-use assets 109,127,202.62 108,644,186.84
Intangible assets 1,175,056,352.46 1,214,398,647.43
Including: Data resources
Development expenditure 244,841,010.07 188,982,954.49
Including: Data resources
Goodwill
Long-term deferred expenses 18,152,836.52 19,671,894.24
Deferred income tax assets 499,401,448.16 502,145,618.18
Other non-current assets 11,505,375,000.90 11,213,390,964.54
Total non-current assets 28,839,223,615.37 28,080,045,640.98
Total assets 75,608,345,236.72 74,503,716,563.31
Current liabilities:
Short-term borrowings 1,589,852,188.07 771,261,250.42
Trading financial liabilities
Derivative financial liabilities
Bills payable 10,670,077,890.94 9,535,557,843.24
Accounts payable 18,376,276,567.69 17,177,450,114.14
Funds received in advance
Contract liabilities 9,647,105,062.52 11,849,366,795.43
Staff remuneration payable 86,534,943.69 136,927,014.53
Taxes payable 32,245,945.18 37,737,635.06
Other payables 4,433,959,455.32 4,091,949,072.12
Including: Interests payable
Dividends payable
Liabilities held for sale
Non-current liabilities due within one year 521,157,072.61 510,657,514.64
Other current liabilities 870,857,694.34 1,158,958,075.19
Total current liabilities 46,228,066,820.36 45,269,865,314.77
Non-current liabilities:
Long-term borrowings 1,931,022,640.46 1,920,993,635.90
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 88,252,427.06 88,805,356.76
Long-term payables 980,856,991.65 942,127,723.65
Long-term staff remuneration payable
Projected liabilities 1,583,399,604.91 1,524,346,793.92
Deferred income 115,766,750.46 114,707,776.39
Deferred income tax liabilities 666,196,294.60 774,130,936.29
Other non-current liabilities
Total non-current liabilities 5,365,494,709.14 5,365,112,222.91
Total liabilities 51,593,561,529.50 50,634,977,537.68
Owners' equity (or shareholders' equity):
Paid-up capital (or share capital) 2,271,496,706.00 2,271,594,206.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 17,122,579,833.07 17,123,052,718.07
Less: Treasury shares 1,310,111,118.52 1,310,681,503.52
Other comprehensive income 2,982,422.69 2,688,270.32
Special reserve
Surplus reserve 800,205,863.05 800,205,863.05
Retained earnings 5,127,630,000.93 4,981,879,471.71
Total owners' equity (or shareholders' equity) 24,014,783,707.22 23,868,739,025.63
Total liabilities and owners' equity (or shareholders' equity) 75,608,345,236.72 74,503,716,563.31
Person-in-charge of the Company: Zhang Chuanwei
Person-in-charge of accounting affairs: Fang Meng
Head of the accounting department: Zhang Feng
Income Statement of the Parent Company
January to March 2025
Prepared by: Ming Yang Smart Energy Group Limited
Unit: Yuan Currency: RMB Audit type: Unaudited
Item First quarter First quarter
of 2025 of 2024
I. Operating revenue 7,728,030,081.84 4,378,832,554.10
Less: Operating cost 7,266,181,092.60 3,808,970,489.86
Taxes and surcharges 7,211,633.83 7,935,127.64
Selling expenses 73,548,298.59 64,570,820.25
Administrative expenses 103,946,127.49 86,175,914.55
Research and development expenses 101,785,166.61 83,828,671.78
Finance costs 23,138,739.20 -7,459,804.04
Including: Interest expenses 49,462,470.15 34,582,508.73
Interest income 43,595,345.65 56,913,947.67
Add: Other gains 3,458,171.34 118,756,203.55
Investment income (loss is represented by "-") 39,812,667.03 63,857,946.19
Including: Gains from investment in associates and joint ventures 4,915,834.04 5,442,248.84
Derecognition gains on financial assets measured at amortized -
cost
Gains from net exposure to hedging (loss is represented by "-")
Gains from changes in fair value (loss is represented by "-") -4,491,840.97 -10,831,771.50
Credit impairment loss (loss is represented by "-") -20,503,967.17 48,274,895.69
Asset impairments loss (loss is represented by "-") -694,068.26 -138,833.12
Gains from disposal of assets (loss is represented by "-") -34,678.85 -236,096.90
II. Profit from operations (loss is represented by "-") 169,765,306.64 554,493,677.97
Add: Non-operating income 466,963.03 188,238.44
Less: Non-operating expenses 15,842,145.63 35,412,291.17
III. Total profit (total loss is represented by "-") 154,390,124.04 519,269,625.24
Less: Income tax expenses 8,639,594.82 59,730,454.73
IV. Net profit (net loss is represented by "-") 145,750,529.22 459,539,170.51
(I) Net profit from continuing operations (net loss expressed with "-") 145,750,529.22 459,539,170.51
(II) Net profit from discontinued operations (net loss expressed with
"-")
V. Net other comprehensive income after taxes 294,152.37 1,683,450.33
(I) Items that may not be reclassified to profit or loss 294,152.37 1,683,450.33
1. Changes from the re-measurement of defined benefit plans
2. Other comprehensive income that may not be reclassified to profit or loss
under the equity method
3. Changes in fair value of investments in other equity instruments 294,152.37 1,683,450.33
4. Changes in fair value of enterprise's own credit risk
(II) Items that may be reclassified to profit or loss -
1. Other comprehensive income that may be reclassified to profit or loss under
the equity method
2. Changes in fair value of other debt investments
3. Financial assets reclassified into other comprehensive income
4. Credit impairment provision for other debt investments
5. Reserve for cash flow hedging
6. Exchange differences from translation of financial statements
7. Others
VI. Total comprehensive income 146,044,681.59 461,222,620.84
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 affairs: Fang Meng
Head of the accounting department: Zhang Feng
Cash Flow Statement of the Parent Company
January to March 2025
Prepared by: Ming Yang Smart Energy Group Limited
Unit: Yuan Currency: RMB Audit type: Unaudited
Item First quarter of 2025 First quarter of 2024
I. Cash flow from operating activities:
Cash received from sales of goods and provision of services 4,885,839,864.12 6,332,075,796.47
Receipt of tax rebates 2,524,031.64 33,078,913.48
Other cash received from activities relating to operation 743,635,112.04 958,236,685.89
Sub-total of cash inflow from operating activities 5,631,999,007.80 7,323,391,395.84
Cash paid for goods purchased and services rendered 6,244,676,207.30 7,124,391,673.99
Cash paid to and on behalf of staff 255,233,237.60 219,768,057.03
Taxes paid 208,562,121.59 17,118,255.49
Other cash paid for activities relating to operating 392,532,109.77 293,878,815.31
Sub-total of cash outflow from operating activities 7,101,003,676.26 7,655,156,801.82
Net cash flow from operating activities -1,469,004,668.46 -331,765,405.98
II. Cash flow generated from investment activities:
Cash received from disposal of investments 639,000,000.00 713,333,027.85
Cash received from gains in investments 79,510,580.96 458,791.66
Net cash received from disposal of fixed assets, intangible assets and other
long-term assets
Net cash received from disposal of subsidiaries and other operating entities
Other cash received relating to investment activities 301,714,336.47 1,814,555,071.04
Sub-total of cash inflow from investment activities 1,020,224,917.43 2,528,346,890.55
Cash paid for purchase of fixed assets, intangible assets and other long-term 137,517,689.74 267,459,125.73
assets
Cash paid for investment 1,955,695,151.19 451,121,579.86
Net cash paid for acquiring subsidiaries and other operating entities
Other cash paid relating to investment activities 408,807,510.95 934,995,346.19
Sub-total of cash outflow from investment activities 2,502,020,351.88 1,653,576,051.78
Net cash flow generated from investment activities -1,481,795,434.45 874,770,838.77
III. Cash flow from financing activities:
Proceeds received from investments
Cash received from borrowings 872,375,054.56 1,448,209,127.92
Other cash received relating to financing activities 17,500,000.00
Sub-total of cash inflow from financing activities 889,875,054.56 1,448,209,127.92
Cash paid for repayment of debts 61,400,000.00
Cash payments for dividend and profit distribution or interest repayment 24,851,587.27 14,049,379.66
Other cash paid relating to financing activities 2,099,739.02 644,843,794.26
Sub-total of cash outflow from financing activities 88,351,326.29 658,893,173.92
Net cash flow generated from financing activities 801,523,728.27 789,315,954.00
IV. Effect on cash and cash equivalents due to changes in foreign exchange -2,297,015.37 2,950,177.99
rates
V. Net increase in cash and cash equivalents -2,151,573,390.01 1,335,271,564.78
Add: Balance of cash and cash equivalents at the beginning of the period 10,117,007,049.72 8,826,106,622.07
VI. Balance of cash and cash equivalents at the end of the period 7,965,433,659.71 10,161,378,186.85
Person-in-charge of the Company: Zhang Chuanwei
Person-in-charge of accounting affairs: Fang Meng
Head of the accounting department: Zhang Feng
(III) Adjustments to the financial statements as at the beginning of the year relating to the initial application of the new accounting standards or interpretations of standards since 2025
□ Applicable √Not applicable
Ming Yang Smart Energy Group Limited
25 April, 2025
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END QRFZZGZDDKRGKZMRecent news on Hong Kong Exchanges and Clearing
See all newsREG - Ming Yang Smart Engy - 2025 First Quarterly Report
AnnouncementREG - Ming Yang Smart Engy - 2024 Third Quarterly Report
AnnouncementREG - BlackRock Group Hong Kong Exc.& Clrg - Form 8.3 - Hong Kong Exchanges and Clearing Ltd
AnnouncementREG - Aviva PLC Hong Kong Exc.& Clrg - Form 8.3 - Hong Kong Exchanges
AnnouncementREG - Wellington Mngmnt Gp Hong Kong Exc.& Clrg LondonStockExGroup - Form 8.3 - London Stock Exchange Group plc
Announcement