REG - Ming Yang Smart Engy - 2024 Third Quarterly Report
30/10/2024 09:15
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RNS Number : 2129K Ming Yang Smart Energy Group Ltd 30 October 2024
MING YANG SMART ENERGY GROUP LIMITED
(GDR under the symbol: "MYSE")
(a joint stock company established under the laws of the People's Republic of
China with limited liability)
2024 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. KEY FINANCIAL DATA
（I） Key Accounting Data and Financial Indicators
Unit: Yuan Currency: RMB
Items Reporting Corresponding period last year Increase/decrease for the Reporting Period form the corresponding period last From the beginning of the year to the end of Reporting Period Corresponding period last year Increase/decrease for the period from the beginning of the year to the end of
year (%) Reporting Period from the corresponding period last year (%)
Period
Before adjustment After adjustment After adjustment Before adjustment After adjustment After adjustment
Operating income 8,440,559,256.23 10,398,611,805.11 10,470,383,005.50 -19.39 20,236,621,066.72 20,957,817,340.32 21,111,588,962.51 -4.14
Net profit attributable to shareholders of the listed company 147,854,295.34 573,680,529.77 581,478,243.05 -74.57 808,510,813.26 1,227,801,867.37 1,235,965,477.55 -34.58
Net profit attributable to shareholders of the listed company after deducting 123,009,929.24 538,222,032.16 546,019,745.44 -77.47 678,843,890.82 1,075,426,041.29 1,083,589,651.47 -37.35
extraordinary profit and loss
Net cash flows from operating activities N/A N/A N/A N/A -4,637,441,458.49 -2,319,208,958.69 -2,331,524,820.47 N/A
Basic earnings per share (RMB/share) 0.07 0.26 0.26 -73.08 0.36 0.55 0.55 -34.55
Diluted earnings per share (RMB/share) 0.07 0.26 0.26 -73.08 0.36 0.55 0.55 -34.55
Weighted average return on net assets (%) 0.54 1.97 1.97 decrease by 1.43 percentage points 2.93 4.27 4.27 decrease by 1.34 percentage points
As at the end of the Reporting Period As at the end of last year Increase/decrease for the end of the Reporting Period from the end of the last
year (%)
Before adjustment After adjustment After adjustment
Total assets 82,919,568,907.16 83,861,255,864.75 84,220,696,668.06 -1.54
Owner's equity attributable to shareholders of the listed company 27,032,719,310.81 27,422,713,697.82 27,559,515,987.93 -1.91
Note: The "Reporting Period" refers to the period of three months from the
beginning of this quarter to the end of this quarter, which applies to the
sections below.
Explanation on the reasons for retrospective adjustment or restatement
1. According to the Resolution on Acquisition of 100% Equity of Guangdong
Mingyang Longyuan Power Electronics Co., Ltd. and Related Transactions
approved by Ming Yang Smart Energy Group Limited (the "Company") at the fourth
meeting of the third session of the Board of Directors on 12 January 2024, the
Company acquired 100% equity interests in Guangdong Mingyang Longyuan Power
Electronics Co., Ltd. ("Guangdong Mingyang Longyuan"), a wholly-owned
subsidiary of Zhongshan Mingyang Electric Appliances Co., Ltd. The aforesaid
transaction was completed on 16 January 2024, and in accordance with the
'Accounting Standard for Business Enterprises No. 33 - Consolidated Financial
Statements' and related regulations, the Company consolidated Guangdong
Mingyang Longyuan and its subsidiaries into its consolidated financial
statements.
2. The acquisition of 100% equity interest in Guangdong Mingyang Longyuan by
the Company constituted a business combination under the same control as the
Company and Guangdong Mingyang Longyuan are both controlled by Mingyang New
Energy Investment Holding Group Co., Ltd. and such control is non-temporary.
According to the relevant provisions of the Accounting Standard for Business
Enterprises No. 33 - Consolidated Financial Statements, the addition of a
subsidiary as a result of the same-control business combination during the
Reporting Period should be regarded as a consolidated reporting entity that
has existed in the previous periods, and the Company is required to make
retrospective adjustments to the financial statement data of the previous
years. That is, the Company shall adjust the opening balance of the
consolidated balance sheet when preparing the consolidated balance sheet; the
items from the beginning of the current period to the end of the reporting
period of Guangdong Mingyang Longyuan shall be included in the consolidated
income statement and the cash flow statement when preparing the consolidated
income statement and the cash flow statement; and at the same time,
adjustments shall be made to the relevant items of the aforesaid financial
statements for the comparative periods, and the consolidated reporting entity
shall be deemed to have been in existence from the time when the ultimate
controlling party started to exercise control.
（II） Extraordinary Profit and Loss Items and Amounts
√Applicable □Not applicable
Unit: Yuan Currency: RMB
Extraordinary profit and loss items Amount during the Period Amount from the beginning of the year to the end of the Reporting Period Description
Profit or loss on disposal of non-current assets (including the part offset -337,758.19 -1,733,240.08
with the provision for impairment of assets)
Government grants (except for the grants which are closely related to the 25,286,686.74 54,781,702.41
Company's normal business, are in compliance with the provisions of China and
have the standard amount and continuing impact on the Company's profit or loss
in accordance with the national standard) included in current profits and
losses
Profit or loss from changes in fair value arising from financial assets and 18,547,356.91 114,919,131.24
financial liabilities held by non-financial enterprises, and profit or loss
arising from disposal of financial assets and financial liabilities other than
effective hedging business related to the Company's normal business operations
Capital occupation fee received from non-financial enterprises and included in
current profit or loss
Profit or loss from entrusted investment or asset management
Profit or loss from 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 562,126.34 30,114,596.07
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
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
Gain or loss from exchange of non-monetary assets
Gain 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 contingent events unrelated to the normal
operations of the Company
Custody fee income from entrusted operations
Other non-operating income and expenses other than the above -14,511,104.06 -42,677,487.96
Other profit or loss items that meet the definition of extraordinary profit or 0.00 102,143.99
loss
Less: Amount of effects of income tax 4,785,874.87 24,974,045.70
Amount of effects of minority interests (after tax) -82,933.23 865,877.53
Total 24,844,366.10 129,666,922.44
Explanation on non-recurring gains and losses items defined by the Company
according to unlisted cases of "Explanatory Announcement No. 1 for Companies
Offering Securities to the Public - Non-operating Profit or Loss" with
material amount and defining the non-recurring gains and losses items listed
in the "Explanatory Announcement No. 1 for Companies Offering Securities to
the Public - Non-operating Profit or Loss" as recurring gains or losses items.
□Applicable √ Not applicable
（III） 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 listed company _ from the -34.58 Mainly due to the decrease of the price of wind turbines and the decrease of
beginning of the year to the end of the Reporting Period the delivery scale of offshore wind turbines
Net profit attributable to shareholders of the listed company after deducting -37.35 Same as above
extraordinary profit and loss _ from the beginning of the year to the end of
the Reporting Period
Basic earnings per share (RMB/share) _ from the beginning of the year to the -34.55 Mainly due to the decrease of the net profit attributable to shareholders of
end of the Reporting Period the listed company during the period
Diluted earnings per share (RMB/share) _ from the beginning of the year to the -34.55 Same as above
end of the Reporting Period
Net profit attributable to shareholders of the listed company _ for the -74.57 Mainly due to the decrease of the price of wind turbines and the decrease of
Reporting Period the delivery scale of offshore wind turbines
Net profit attributable to shareholders of the listed company after deducting -77.47 Same as above
extraordinary profit and loss _ for the Reporting Period
Basic earnings per share (RMB/share)_ for the Reporting Period -73.08 Mainly due to the decrease of the net profit attributable to shareholders of
the listed company during the period
Diluted earnings per share (RMB/share) _ for the Reporting Period -73.08 Same as above
II. INFORMATION ON SHAREHOLDER
（I） Total number of ordinary shareholders, total number of holders of preference shares with voting rights restored and shareholdings of the top ten shareholders
Unit: share
Total number of ordinary shareholders as at the end of the Reporting Period 139,842 Total number of preference shareholders whose voting rights were restored as 0
at the end of the Reporting Period (if any)
Shareholdings of the top ten shareholders (excluding shares lent through
refinancing)
Name of shareholder Nature of shareholder Number of shares held Percentage of shares held (%) Number of shares held subject to restrictions on sale Shares pledged, marked or frozen
Status of shares Number
WISER TYSON INVESTMENT CORP LIMITED Overseas legal person 157,062,475 6.91 - Pledged 121,700,475
FIRST BASE INVESTMENTS LIMITED Overseas legal person 119,470,011 5.26 - Pledged 95,000,000
Mingyang New Energy Investment Holding Group Co., Ltd. Domestic non-state-owned legal person 113,591,612 5.00 - Pledged 12,000,000
Hong Kong Securities Clearing Company Limited Others 76,055,645 3.35 - Nil -
Mingyang New Energy Investment Holding Group Co., Ltd.－special account for Domestic non-state-owned legal person 50,640,000 2.23 - Pledged 50,640,000
pledge of convertible corporate bonds non-publicly issued to professional
investors in 2023 (first tranche)
KEYCORP LIMITED Overseas legal person 44,683,336 1.97 - Pledged 44,390,000
Ningbo Boyun Tiancheng Venture Capital Partnership (Limited Partnership) Domestic non-state-owned legal person 36,647,003 1.61 - Nil -
Mingyang New Energy Investment Holding Group Co., Ltd.－special account for Domestic non-state-owned legal person 35,820,000 1.58 - Pledged 35,820,000
pledge of convertible corporate bonds non-publicly issued to professional
investors in 2024 (first tranche)
China Pacific Life Insurance Co., Ltd － Dividend － Personal Dividend Others 34,046,207 1.50 - Nil -
Bank of Communications Co., Ltd.- HSBC Jintrust Low-Carbon Pioneer Stock Others 32,686,383 1.44 - Nil -
Securities Investment Fund
Shareholdings of the top ten shareholders of shares not subject to lock-up
(excluding shares lent through refinancing)
Name of shareholder Number of unrestricted outstanding shares Class and number of shares
Class Number
WISER TYSON INVESTMENT CORP LIMITED 157,062,475 RMB ordinary share 157,062,475
FIRST BASE INVESTMENTS LIMITED 119,470,011 RMB ordinary share 119,470,011
Mingyang New Energy Investment Holding Group Co., Ltd. 113,591,612 RMB ordinary share 113,591,612
Hong Kong Securities Clearing Company Limited 76,055,645 RMB ordinary share 76,055,645
Mingyang New Energy Investment Holding Group Co., Ltd.－special account for 50,640,000 RMB ordinary share 50,640,000
pledge of convertible corporate bonds non-publicly issued to professional
investors in 2023 (first tranche)
KEYCORP LIMITED 44,683,336 RMB ordinary share 44,683,336
Ningbo Boyun Tiancheng Venture Capital Partnership (Limited Partnership) 36,647,003 RMB ordinary share 36,647,003
Mingyang New Energy Investment Holding Group Co., Ltd.－special account for 35,820,000 RMB ordinary share 35,820,000
pledge of convertible corporate bonds non-publicly issued to professional
investors in 2024 (first tranche)
China Pacific Life Insurance Co., Ltd － Dividend － Personal Dividend 34,046,207 RMB ordinary share 34,046,207
Bank of Communications Co., Ltd.- HSBC Jintrust Low-Carbon Pioneer Stock 32,686,383 RMB ordinary share 32,686,383
Securities Investment Fund
Description of connected relationship or concerted action among the above (1) Due to the non-public issuance of exchangeable corporate bonds by the
shareholders 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,
FIRST BASE INVESTMENTS LIMITED, KEYCORP 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"), Ningbo Boyun Tiancheng Venture
Capital 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.
Description of the top ten shareholders and top ten shareholders not subject N/A
to trading moratorium involved in margin financing and securities lending
business and refinancing business (if any)
Information of shares lent through refinancing business by holders with a
shareholding of 5%, the top 10 shareholders and the top 10 circulating
shareholders not subjected to selling restrictions
□Applicable √Not applicable
The top 10 shareholders and the top 10 circulating shareholders not subjected
to selling restrictions have changed from the last period due to shares
lent/returned through refinancing
□Applicable √Not applicable
Information of the special repurchase accounts among the top 10
shareholders：The Company's top 10 shareholders have special repurchase
accounts. As of 30 June 2024, Ming Yang Smart Energy Group Co., Ltd.'s special
repurchase securities account held a total of 121,119,984 shares of the
Company, representing 5.33% of the Company's total share capital.
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
□ Applicable √ Not applicable
IV. QUARTERLY FINANCIAL STATEMENTS
（I） Type of Audit Opinion
□ Applicable √ Not applicable
（II） Financial Statements
Consolidated Balance Sheet
As at 30 September 2024
Unit: Yuan Currency: RMB Audit status: Unaudited
Item 30 September 2024 31 December 2023
Current assets:
Cash and cash balances 11,181,753,936.10 13,044,171,641.42
Settlement provisions
Loans to banks and other financial institutions
Financial assets held for trading 1,184,766.87 1,252,856.92
Derivative financial assets
Notes receivable 3,449,246.50 11,863,236.98
Accounts receivable 15,598,478,580.93 14,059,012,735.52
Financing receivables 1,420,752,676.91 786,889,059.96
Prepayments 891,501,258.28 771,123,302.42
Insurance premium receivables
Due from reinsurers
Reinsurance contract reserve receivables
Other receivables 1,316,947,449.45 844,770,862.89
Including: Interest receivable
Dividends receivable 196,912,115.57 76,049,647.00
Financial assets purchased under agreements to resell
Inventories 10,971,268,909.51 9,737,620,576.88
Including: Data resources
Contract assets 936,172,150.88 809,011,938.98
Assets held for sale
Non-current assets due within one year 1,949,397,015.46 1,522,949,500.26
Other current assets 2,334,888,763.31 2,094,947,559.40
Total current assets 46,605,794,754.20 43,683,613,271.63
Non-current assets:
Loans and advances
Debt investment
Other debt investments
Long-term receivables 10,000,000.00
Long-term equity investment 810,545,865.34 539,499,971.39
Other equity instrument investments 145,529,449.71 122,673,711.33
Other non-current financial assets 597,589,515.25 560,117,024.70
Investment properties
Fixed assets 13,994,656,800.33 13,430,638,520.55
Construction in progress 4,976,137,656.32 8,777,325,916.28
Productive biological assets
Oil and gas assets
Right-of-use assets 236,899,387.03 380,944,562.26
Intangible assets 2,173,581,740.11 2,065,781,989.72
Including: Data resources
Development expenditures 613,433,172.94 246,004,739.30
Including: Data resources
Goodwill 68,569,375.91 68,569,375.91
Long-term deferred expenses 120,220,219.69 116,250,957.21
Deferred tax assets 1,356,968,206.47 1,158,364,240.20
Other non-current assets 11,209,642,763.86 13,070,912,387.58
Total non-current assets 36,313,774,152.96 40,537,083,396.43
Total assets 82,919,568,907.16 84,220,696,668.06
Current liabilities:
Short-term borrowings 1,147,330,876.87 874,387,154.28
Borrowing from the central bank
Deposits and balances from banks and other financial institutions
Financial liabilities held for trading
Derivative financial liabilities
Notes payable 7,633,096,970.69 11,433,450,444.40
Accounts payable 12,083,973,270.20 11,204,382,361.81
Receipts in advance
Contract liabilities 8,459,859,015.93 7,648,864,116.90
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 288,733,848.48 355,666,980.47
Taxes payable 192,961,458.34 255,802,703.90
Other payables 2,208,569,078.02 2,755,885,529.82
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 2,954,468,123.49 2,589,772,135.66
Other current liabilities 734,220,755.63 647,180,270.55
Total current liabilities 35,703,213,397.65 37,765,391,697.79
Non-current liabilities:
Insurance contract liabilities
Long-term borrowings 12,307,582,355.04 11,480,062,600.75
Bond payables
Including: Preference shares
Perpetual bonds
Lease liabilities 106,845,227.34 280,595,145.69
Long-term payables 3,132,059,170.62 2,827,124,148.98
Long-term employee payroll payable
Estimated liabilities 1,750,358,810.38 1,732,196,128.44
Deferred income 396,777,103.45 416,103,638.29
Deferred tax liabilities 1,280,299,740.84 1,117,458,022.43
Other non-current liabilities
Total non-current liabilities 18,973,922,407.67 17,853,539,684.58
Total liabilities 54,677,135,805.32 55,618,931,382.37
Owners' equity (or shareholders' equity):
Paid-in capital (or share capital) 2,271,594,206.00 2,271,759,206.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve 17,181,257,127.50 17,108,858,418.25
Less: Treasury stock 1,355,565,084.01 560,642,480.21
Other comprehensive income 49,756,786.84 49,344,950.77
Special reserve 115,701,247.50 74,772,468.49
Surplus reserve 795,833,097.67 795,833,097.67
General risk reserve
Retained earnings 7,974,141,929.31 7,819,590,326.96
Total equity (or shareholders' equity) attributable to owners of the parent 27,032,719,310.81 27,559,515,987.93
Minority interest 1,209,713,791.03 1,042,249,297.76
Total owners' equity (or shareholders' equity) 28,242,433,101.84 28,601,765,285.69
Total liabilities and owners' equity (or shareholders' equity) 82,919,568,907.16 84,220,696,668.06
Person-in-charge of the Company: Zhang Chuanwei Person-in-charge of
accounting: Liang Caifa Head of accountant firm: Zhang Feng
Consolidated Income Statement
January to September 2024
Unit: Yuan Currency: RMB Audit status: Unaudited
Item First three quarters of 2024 First three quarters of 2023
(January to September) (January to September)
I. Total revenue 20,236,621,066.72 21,111,588,962.51
Including: Operating revenue 20,236,621,066.72 21,111,588,962.51
Interest income
Earned premiums
Fee and commission revenue
II. Total operating cost 20,287,976,841.08 20,146,406,287.44
Including: Operating cost 17,159,951,826.30 17,756,813,914.03
Interest expenses
Fee and commission expenses
Surrenders
Net payments for insurance claims
Net provision of insurance reserve
Policyholder dividends
Reinsurance expenses
Taxes and surcharges 115,210,839.03 81,003,920.17
Selling expenses 1,459,413,760.09 891,002,915.83
Administrative expenses 777,466,152.02 659,481,024.49
R&D expenses 501,035,158.59 739,969,305.31
Financial expenses 274,899,105.05 18,135,207.61
Including: Interest expense 380,619,192.19 254,200,226.22
Interest income 157,615,492.35 167,341,919.64
Add: Other income 396,279,728.21 143,449,781.98
Investment income ("-" means loss) 745,546,200.86 503,468,265.78
Including: Income from investments in associates and joint ventures 18,339,365.53 16,120,651.71
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) -29,205,477.94 -52,582,935.39
Credit impairment losses ("-" means loss) -24,083,195.79 -179,531,954.85
Asset impairment losses ("-" means loss) -52,061,122.36 -14,799,262.99
Gains from disposal of assets ("-" means loss) 3,227,250.04 4,699,864.18
III. Operating profit ("-" means loss) 988,347,608.66 1,369,886,433.78
Add: Non-operating income 18,217,132.81 52,079,041.46
Less: Non-operating expenses 65,855,110.87 23,556,854.84
IV. Total profits ("-" means total losses) 940,709,630.60 1,398,408,620.40
Less: Income tax expense 76,345,567.40 125,770,161.21
V. Net profit ("-" means net loss) 864,364,063.20 1,272,638,459.19
(I) Classification by operation continuity
1. Net profit from continuing operations ("-" means net loss) 864,364,063.20 1,272,638,459.19
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) 808,510,813.26 1,235,965,477.55
2. Minority profit or loss ("-" means net loss) 55,853,249.94 36,672,981.64
VI. Other comprehensive income net of tax 567,005.45 -664,368.28
(I) Other comprehensive income attributable to owners of the parent, net of 411,836.07 -604,565.22
tax
1. Other comprehensive income that cannot be reclassified into profit or loss 3,929,302.09 2,994,527.03
(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 3,929,302.09 2,994,527.03
(4) Change in fair value of the enterprise's own credit risk
2. Other comprehensive income that will be reclassified into profit or loss -3,517,466.02 -3,599,092.25
(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 -3,517,466.02 -3,599,092.25
statements
(7) Others
(II) Other comprehensive income attributable to minority shareholders, net of 155,169.38 -59,803.06
tax
VII. Total comprehensive income 864,931,068.65 1,271,974,090.91
(I) Total comprehensive income attributable to owners of the parent 808,922,649.33 1,235,360,912.33
(II) Total comprehensive income attributable to minority interest 56,008,419.32 36,613,178.58
VIII. Earnings per share:
(I) Basic earnings per share (RMB/Share) 0.36 0.55
(II) Diluted earnings per share (RMB/Share) 0.36 0.55
For business combinations under common control that occurred during the
Reporting Period, the net profit realised by the combined party prior to the
combination is RMB0, while the net profit realised by the combined party
during the previous period is RMB7,612,293.45.
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 2024
Unit: Yuan Currency: RMB Audit status: Unaudited
Item First three quarters of 2024 First three quarters of 2023
(January to September) (January to September)
I. Cash flow from operating activities:
Cash received from sales of goods and rendering of services 18,279,497,292.67 16,446,792,955.00
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 147,606,004.42 152,351,047.06
Other cash received in connection with operating activities 590,714,265.84 943,837,027.25
Sub-total of cash inflows from operating activities 19,017,817,562.93 17,542,981,029.31
Cash paid for purchase of goods and services 19,672,906,412.78 16,307,081,478.36
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 1,805,036,191.97 1,539,472,063.78
Tax payments 867,356,961.36 787,144,987.73
Other cash paid in connection with operating activities 1,309,959,455.31 1,240,807,319.91
Sub-total of cash outflows from operating activities 23,655,259,021.42 19,874,505,849.78
Net cash flow from operating activities -4,637,441,458.49 -2,331,524,820.47
II. Cash flow from investing activities:
Cash received from disposal of investments 1,694,614,972.28 829,717,827.60
Cash received from investment income 278,084,036.97 15,349,427.43
Net cash received from disposal of fixed assets, intangible assets and other 15,414,871.05 950,925.75
long-term assets
Net cash received from disposal of subsidiaries and other business units 1,324,164,409.77 606,958,905.78
Other cash received in connection with investing activities 141,239,746.84 100,537,042.01
Sub-total of cash inflows from investing activities 3,453,518,036.91 1,553,514,128.57
Cash paid for acquisition of fixed assets, intangible assets and other 5,075,795,718.55 6,332,034,127.56
long-term assets
Cash paid for investments 391,179,335.04 300,582,115.33
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 5,466,975,053.59 6,666,344,242.89
Net cash flows from investing activities -2,013,457,016.68 -5,112,830,114.32
III. Cash flow from financing activities:
Cash received from investments 514,270,000.00 52,670,000.00
Including: Cash receipts from investments in subsidiaries by minority 514,270,000.00 52,670,000.00
shareholders
Cash received from borrowings 8,365,239,997.38 7,651,829,761.53
Other cash received in connection with financing activities 2,285,676.90 688,222,801.39
Sub-total of cash inflows from financing activities 8,881,795,674.28 8,392,722,562.92
Cash repayment of debts 908,835,061.59 580,412,466.53
Cash paid for distribution of dividends, profits or interest expenses 1,050,221,330.79 806,456,299.69
Including: Dividends and profits paid by subsidiaries to minority shareholders
Other cash paid in connection with financing activities 1,555,499,369.32 381,795,295.11
Sub-total of cash outflows from financing activities 3,514,555,761.70 1,768,664,061.33
Net cash flows from financing activities 5,367,239,912.58 6,624,058,501.59
IV. Effects of exchange rate changes on cash and cash equivalents -15,395,666.00 104,204,680.75
V. Net increase in cash and cash equivalents -1,299,054,228.59 -716,091,752.45
Add: Opening balance of cash and cash equivalents 12,070,683,635.67 10,580,570,401.02
VI. Closing balance of cash and cash equivalents 10,771,629,407.08 9,864,478,648.57
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 2024
Unit: Yuan Currency: RMB Audit status: Unaudited
Item 30 September 2024 31 December 2023
Current assets:
Cash and cash balances 6,141,494,190.81 9,574,429,404.63
Financial assets held for trading 1,184,766.87 1,252,856.92
Derivative financial assets
Notes receivable 6,043,383.55
Accounts receivable 13,722,080,921.45 13,244,311,250.39
Financing receivables 1,387,775,514.89 756,608,955.16
Prepayments 1,221,902,844.48 990,672,464.07
Other receivables 6,023,118,838.46 6,090,128,038.34
Including: Interest receivable
Dividends receivable 18,979,170.00 19,191,474.07
Inventories 5,724,051,971.74 6,432,398,056.24
Including: Data resources
Contract assets 515,712,284.80 536,765,372.39
Assets held for sale
Non-current assets due within one year 1,949,397,015.46 1,522,949,500.26
Other current assets 6,161,862,830.00 5,954,128,985.74
Total current assets 42,848,581,178.96 45,109,688,267.69
Non-current assets:
Debt investment
Other debt investments
Long-term receivables
Long-term equity investment 12,237,600,070.98 10,949,866,646.29
Other equity instrument investments 106,808,828.70 102,892,832.77
Other non-current financial assets 382,812,194.53 383,268,335.54
Investment properties
Fixed assets 687,293,969.76 561,781,133.51
Construction in progress 648,731,480.73 519,950,015.42
Productive biological assets
Oil and gas assets
Right-of-use assets 35,734,805.56 30,062,101.91
Intangible assets 906,513,791.45 960,040,549.93
Including: Data resources
Development expenditures 588,020,686.62 235,640,071.47
Including: Data resources
Goodwill
Long-term deferred expenses 7,661,035.70 9,963,481.59
Deferred tax assets 603,835,242.84 580,268,737.69
Other non-current assets 11,029,144,123.86 12,692,102,319.59
Total non-current assets 27,234,156,230.73 27,025,836,225.71
Total assets 70,082,737,409.69 72,135,524,493.40
Current liabilities:
Short-term borrowings 1,137,319,999.97 450,097,500.00
Financial liabilities held for trading
Derivative financial liabilities
Notes payable 7,406,120,357.34 11,089,605,154.39
Accounts payable 14,728,745,937.56 14,240,317,758.14
Receipts in advance
Contract liabilities 10,517,451,566.97 10,880,539,354.56
Employee payroll payable 119,755,887.88 141,469,986.95
Taxes payable 21,858,927.36 26,114,041.44
Other payables 4,619,697,602.18 4,403,909,552.31
Including: Interest payable
Dividends payable
Liabilities held for sale
Non-current liabilities due within one year 515,679,765.45 250,706,951.29
Other current liabilities 1,005,017,816.34 1,064,027,757.00
Total current liabilities 40,071,647,861.05 42,546,788,056.08
Non-current liabilities:
Long-term borrowings 1,195,627,190.82 766,372,244.51
Bond payables
Including: Preference shares
Perpetual bonds
Lease liabilities 27,338,333.35 16,362,737.35
Long-term payables 889,909,051.35 801,866,058.82
Long-term employee payroll payable
Estimated liabilities 1,711,991,649.62 1,691,631,079.84
Deferred income 141,123,089.88 143,662,032.90
Deferred tax liabilities 1,202,318,258.93 1,048,896,276.23
Other non-current liabilities
Total non-current liabilities 5,168,307,573.95 4,468,790,429.65
Total liabilities 45,239,955,435.00 47,015,578,485.73
Owners' equity (or shareholders' equity):
Paid-in capital (or share capital) 2,271,594,206.00 2,271,759,206.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve 17,121,884,192.78 17,115,177,744.69
Less: Treasury stock 1,355,565,084.01 560,642,480.21
Other comprehensive income 24,742,504.39 21,413,907.86
Special reserve
Surplus reserve 783,825,171.42 783,825,171.42
Retained earnings 5,996,300,984.11 5,488,412,457.91
Total owners' equity (or shareholders' equity) 24,842,781,974.69 25,119,946,007.67
Total liabilities and owners' equity (or shareholders' equity) 70,082,737,409.69 72,135,524,493.40
Person-in-charge of the Company: Zhang Chuanwei Person-in-charge of
accounting: Liang Caifa Head of accountant firm: Zhang Feng
Income Statement of the Parent
January to September 2024
Unit: Yuan Currency: RMB Audit status: Unaudited
Item First three quarters of 2024 First three quarters of 2023
(January to September) (January to September)
I. Operating revenue 19,397,459,575.06 19,917,051,604.54
Less: Operating cost 16,982,583,967.32 18,123,093,208.69
Taxes and surcharges 48,981,094.08 27,447,459.99
Selling expenses 1,278,583,026.33 684,765,555.30
Administrative expenses 287,418,462.05 284,426,640.91
R&D expenses 154,048,820.91 387,816,012.67
Financial expenses 11,478,506.02 -141,853,622.17
Including: Interest expense 105,100,707.54 85,341,043.10
Interest income 146,041,864.22 161,136,052.47
Add: Other income 291,655,009.94 89,969,411.74
Investment income ("-" means loss) 371,303,452.81 243,013,787.85
Including: Income from investments in associates and joint ventures 11,258,097.03 9,577,396.71
Income from derecognition of financial assets measured at amortised cost -
Net exposure hedging gains ("-" means loss)
Gains on changes in fair value ("-" means loss) -14,225,331.06 -52,582,935.39
Credit impairment losses ("-" means loss) 75,641,888.25 -156,893,602.88
Asset impairment losses ("-" means loss) -25,669,301.53 -1,964,138.77
Gains from disposal of assets ("-" means loss) -1,515,443.05 3,497.95
II. Operating profit ("-" means loss) 1,331,555,973.71 672,902,369.65
Add: Non-operating income 2,515,862.27 47,544,842.67
Less: Non-operating expenses 42,917,477.02 43,982,636.77
III. Total profits ("-" means total losses) 1,291,154,358.96 676,464,575.55
Less: Income tax expense 129,306,621.85 78,961,280.40
IV. Net profit ("-" means net loss) 1,161,847,737.11 597,503,295.15
(I) Net profit from continuing operations ("-" means net loss) 1,161,847,737.11 597,503,295.15
(II) Net profit from discontinuing operations ("-" means net loss)
V. Other comprehensive income, net of tax 3,328,596.53 2,781,299.32
(I) Other comprehensive income that cannot be reclassified into profit or loss 3,328,596.53 2,781,299.32
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 3,328,596.53 2,781,299.32
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 1,165,176,333.64 600,284,594.47
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 2024
Unit: Yuan Currency: RMB Audit status: Unaudited
Item First three quarters of 2024 First three quarters of 2023
(January to September) (January to September)
I. Cash flow from operating activities:
Cash received from sales of goods and rendering of services 18,420,997,026.65 18,120,657,406.83
Tax refunds received 33,249,152.51 93,531,394.20
Other cash received in connection with operating activities 1,844,031,294.43 1,869,671,322.94
Sub-total of cash inflows from operating activities 20,298,277,473.59 20,083,860,123.97
Cash paid for purchase of goods and services 21,013,169,152.07 17,046,617,932.20
Cash paid to and on behalf of employees 541,274,126.37 536,190,891.83
Tax payments 375,299,927.82 433,670,781.70
Other cash paid in connection with operating activities 1,020,136,218.79 1,251,910,222.37
Sub-total of cash outflows from operating activities 22,949,879,425.05 19,268,389,828.10
Net cash flow from operating activities -2,651,601,951.46 815,470,295.87
II. Cash flow from investing activities:
Cash received from disposal of investments 1,694,614,972.28 807,071,022.00
Cash received from investment income 360,003,244.99 14,843,558.38
Net cash received from disposal of fixed assets, intangible assets and other 7,500.00
long-term assets
Net cash received from disposal of subsidiaries and other business units
Other cash received in connection with investing activities 2,419,015,266.59 2,485,037,087.81
Sub-total of cash inflows from investing activities 4,473,633,483.86 3,306,959,168.19
Cash paid for acquisition of fixed assets, intangible assets and other 823,419,397.27 710,874,436.41
long-term assets
Cash paid for investments 1,241,827,895.04 1,092,902,657.90
Net cash paid for acquisition of subsidiaries and other business units
Other cash paid in connection with investing activities 1,795,743,378.34 2,549,102,262.66
Sub-total of cash outflows from investing activities 3,860,990,670.65 4,352,879,356.97
Net cash flows from investing activities 612,642,813.21 -1,045,920,188.78
III. Cash flow from financing activities:
Cash received from investments
Cash received from borrowings 1,613,454,946.31 179,185,355.18
Cash received from issuance of bonds 260,321,377.03
Other cash received in connection with financing activities 1,613,454,946.31 439,506,732.21
Sub-total of cash inflows from financing activities 61,400,000.00 259,291,906.00
Cash repayment of debts 701,986,577.48 677,771,533.42
Cash paid for distribution of dividends, profits or interest expenses 1,677,960,167.30 256,459,847.50
Sub-total of cash outflows from financing activities 2,441,346,744.78 1,193,523,286.92
Net cash flows from financing activities -827,891,798.47 -754,016,554.71
IV. Effects of exchange rate changes on cash and cash equivalents -13,714,652.80 103,576,498.21
V. Net increase in cash and cash equivalents -2,880,565,589.52 -880,889,949.41
Add: Opening balance of cash and cash equivalents 8,826,106,622.07 8,455,177,493.26
VI. Closing balance of cash and cash equivalents 5,945,541,032.55 7,574,287,543.85
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 interpretations of standards for the first time since 2024
□Applicable √Not applicable
Ming Yang Smart Energy Group Limited
30 October, 2024
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