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REG - Ming Yang Smart Engy - PRELIMINARY RESULTS FOR Q1-Q3 OF 2022

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RNS Number : 0707D  Ming Yang Smart Energy Group Ltd  17 October 2022

17 October
2022

MING YANG SMART ENERGY GROUP LIMITED

(a joint stock company established under the laws of the People's Republic of
China with limited liability)

ANNOUNCEMENT ON PRELIMINARY RESULTS FOR Q1-Q3 OF 2022

Important Notice:

1. It is estimated that Ming Yang Smart Energy Group Limited (hereinafter
referred to the "Company") will realise net profit attributable to
shareholders of the listed company from January 2022 to September 2022 of
RMB3,300 million to RMB3,650 million, representing a year-on-year increase of
RMB1,138.6401 million to RMB1,488.6401 million, or 52.68% to 68.88%.

2. It is estimated that the Company will realise net profit attributable to
shareholders of the listed company after deducting extraordinary profit and
loss from January 2022 to September 2022 of RMB3,200 million to RMB3,550
million, representing a year-on-year increase of RMB1,075.3209 million to
RMB1,425.3209 million, or 50.61% to 67.08%.

 

I. ESTIMATED RESULTS FOR THIS REPORTING PERIOD

(1) Reporting Period of the Estimated Results

1 January 2022 to 30 September 2022.

(2) Estimated Results

1. Based on the preliminary estimation by the financial department, it is
estimated that the Company will realise net profit attributable to
shareholders of the listed company from January 2022 to September 2022 of
RMB3,300 million to RMB3,650 million, representing a year-on-year increase of
RMB1,138.6401 million to RMB1,488.6401 million, or 52.68% to 68.88%.

2. It is estimated that the Company will realise net profit attributable to
shareholders of the listed company after deducting extraordinary profit and
loss from January 2022 to September 2022 of RMB3,200 million to RMB 3,550
million, representing a year-on-year increase of RMB1,075.3209 million to
RMB1,425.3209 million, or 50.61% to 67.08%.

3. The estimated results for this reporting period have not been audited by
certified public accountants.

 

II. RESULTS FOR THE CORRESPONDING PERIOD OF THE PREVIOUS YEAR

(I) Net profit attributable to shareholders of the listed company was
RMB2,161.3599 million and net profit attributable to shareholders of the
listed company after deducting extraordinary profit and loss was RMB2,124.6791
million.

(II) Earnings per share:RMB1.13.

 

III. MAIN REASONS FOR THE INCREASE OF ESTIMATED PROFIT FOR THIS REPORTING
PERIOD

During this reporting period, net profit attributable to shareholders of the
listed company increased as compared to that of previous year, which was due
to the effect of principal business:

1. From January to September 2022, the wind power industry maintained a steady
growth trend as a whole and the number of new tenders in the industry has
exceeded the full-year number of previous year. The increase in the Company's
orders in hand and the rising deliveries of its wind turbine led to an
increase in revenue.

2. From January to September 2022, the Company's new energy power stations
business developed steadily with the number of power stations under
construction increasing and the scale and revenue of power stations
transferred increasing compared to that of previous year.

 

IV RISK WARNINGS

There are no material uncertain factors in the Company that may affect the
accuracy of this results estimation.

 

V. OTHER MATTERS

The estimated results above are only preliminary estimated figures. Please
refer to the 2022 third quarterly report to be officially disclosed by the
Company for specific and accurate financial information. Investors are
reminded to exercise caution when making investment decisions.

 

The Board of Directors of

Ming Yang Smart Energy Group Limited

17 October 2022

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