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ZHONGSHAN - Ming Yang Smart Energy Group Ltd (SHA:601615), a leading Chinese wind turbine manufacturer, disclosed its unaudited financial results for the first quarter of 2025, revealing a significant increase in operating revenue but a slight dip in net profit compared to the same period last year.
The company’s operating revenue surged by 51.78% to 7.7 billion yuan, attributed mainly to increased wind turbine sales. Despite the revenue growth, net profit attributable to shareholders saw a marginal decline of 0.70%, amounting to 302 million yuan. After deducting non-recurring profits and losses, the net profit attributable to shareholders decreased by 1.35%.
Ming Yang Smart Energy also experienced a negative net cash flow from operating activities, which widened to approximately -2.18 billion yuan, compared to -1.67 billion yuan in the same quarter of the previous year.
The company’s total assets increased by 1.76% to 88.3 billion yuan at the end of the reporting period, while owners’ equity attributable to shareholders rose by 1.23%. Basic and diluted earnings per share remained unchanged at 0.13 yuan.
The report also detailed the shareholders’ structure, with WISER TYSON INVESTMENT CORP LIMITED and FIRST BASE INVESTMENTS LIMITED among the top shareholders, both categorized as overseas legal persons. The company’s controlling shareholder, Mingyang New Energy Investment Holding Group Co., Ltd., was also listed with a significant stake.
Ming Yang Smart Energy’s financial statements for the first quarter have not been audited, and the company’s management has taken legal responsibility for the report’s truthfulness, accuracy, and completeness.
This financial update is based on a press release statement from Ming Yang Smart Energy Group Ltd.
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