I.     KEY FINANCIAL DATA

（I）    Key Accounting Data and Financial Indicators

Unit: Yuan Currency: RMB   

Items	Reporting Period	Corresponding period last year		Increase/decrease for the Reporting Period form the corresponding period last year (%)	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 Reporting Period from the corresponding period last year (%)
		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 extraordinary profit and loss	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
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 with the provision for impairment of assets)	-337,758.19	-1,733,240.08
Government grants (except for the grants which are closely related to the 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	25,286,686.74	54,781,702.41
Profit or loss from changes in fair value arising from financial assets and 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	18,547,356.91	114,919,131.24
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 tested for impairment	562,126.34	30,114,596.07
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 loss	0.00	102,143.99
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 beginning of the year to the end of the Reporting Period	-34.58	Mainly due to the decrease of the price of wind turbines and the decrease of the delivery scale of offshore wind turbines
Net profit attributable to shareholders of the listed company after deducting extraordinary profit and loss _ from the beginning of the year to the end of the Reporting Period	-37.35	Same as above
Basic earnings per share (RMB/share) _ from the beginning of the year to the end of the Reporting Period	-34.55	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) _ from the beginning of the year to the end of the Reporting Period	-34.55	Same as above
Net profit attributable to shareholders of the listed company _ for the Reporting Period	-74.57	Mainly due to the decrease of the price of wind turbines and the decrease of the delivery scale of offshore wind turbines
Net profit attributable to shareholders of the listed company after deducting extraordinary profit and loss _ for the Reporting Period	-77.47	Same as above
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 at the end of the Reporting Period (if any)			0
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 pledge of convertible corporate bonds non-publicly issued to professional investors in 2023 (first tranche)	Domestic non-state-owned legal person	50,640,000	2.23	-	Pledged	50,640,000
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 pledge of convertible corporate bonds non-publicly issued to professional investors in 2024 (first tranche)	Domestic non-state-owned legal person	35,820,000	1.58	-	Pledged	35,820,000
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 Securities Investment Fund	Others	32,686,383	1.44	-	Nil	-
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 pledge of convertible corporate bonds non-publicly issued to professional investors in 2023 (first tranche)	50,640,000			RMB ordinary share	50,640,000
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 pledge of convertible corporate bonds non-publicly issued to professional investors in 2024 (first tranche)	35,820,000			RMB ordinary share	35,820,000
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 Securities Investment Fund	32,686,383			RMB ordinary share	32,686,383
Description of connected relationship or concerted action among the above shareholders	(1) Due to the non-public issuance of exchangeable corporate bonds by the 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 to trading moratorium involved in margin financing and securities lending business and refinancing business (if any)	N/A

 

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