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)

Announcement on the First Repurchase of Shares of the Company

 

I. Basic Information of Share Repurchase

Ming Yang Smart Energy Group Limited (hereinafter referred to as the "Company") held the 5th meeting of the third session of the Board of Directors on 19 February 2024, deliberating and adopting the "Proposal on Second Phase of the Plan to Repurchase Corporate Shares through Centralized Competitive Trading", agreeing that the Company use its self-owned funds of no more than RMB600 million (inclusive) while not less than RMB300 million (inclusive) to repurchase its shares through centralized competitive trading in order to maintain the Company's value and interest of the shareholders, and the repurchased shares will be used for the purpose of sale in accordance with the relevant regulations, and the part of the shares not sold after the expiry of the time limit shall be cancelled in accordance with the law. The repurchase period shall not exceed 3 months from 19 February 2024, and the price of repurchased shares shall not exceed RMB15 per share (inclusive).

 

II. The Initial Repurchase of Corporate Shares

On 21 February 2024, the Company implemented its initial repurchase, and in accordance with the Rules for Share Repurchase of Listed Companies and the Guidelines for Self-regulation of Listed Companies on Shanghai Stock Exchange No.7 - Share Repurchase and other relevant regulations, the initial repurchase of the corporate shares is hereby announced as follows:

 

The Company initially repurchased 1,000,000 shares through centralized competitive trading, accounting for 0.04% of the Company's current total share capital (i.e., 2,271,759,206 shares), with the highest price of RMB9.60 per share and the lowest price of RMB9.55 per share traded, and a total amount of RMB9,572,085.00 has been paid (excluding transaction fees). The repurchase is in compliance with relevant laws and regulations and the Company's established share repurchase plan.

 

III. Other Notes

The Company will implement share repurchase in strict accordance with relevant regulations and fulfill its information disclosure obligations in a timely manner based on market conditions. And investors are kindly advised to attach importance to investment risks.

 

    Ming Yang Smart Energy Group Co., Ltd.

              21 February 2024