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 Progress
of the Share Repurchase
I.
Basic Information about Share Repurchase
On May 4, 2023, Ming Yang Smart Energy
Group Limited (the "Company") held the 39th meeting of the second
session of the board of directors and considered and approved the
Proposal on the Plan for Repurchasing Company Shares by means of
Centralized Bidding Transaction. The Company agreed to use its own
funds of no more than RMB1 billion (inclusive) and no less than
RMB500 million (inclusive) to repurchase the Company's shares by
centralized bidding transaction, for the purpose of implementing
equity incentives. The repurchase period shall not exceed 12 months
from May 4, 2023.
II.
Progress of the Share Repurchase
As of February 1,
2024, the
Company repurchased 87,706,484 shares through centralized bidding,
accounting for 3.86% of the current total share capital (i.e.
2,271,759,206 shares) of the Company, with the highest transaction
price of RMB 17.99/share, the lowest transaction price of RMB
8.52/share and the total amount paid of RMB 980,432,147.71
(excluding transaction fees). The repurchase this time complies
with the provisions of relevant laws and regulations and the
established share repurchase plan of the Company.
The Company will make repurchase as
appropriate according to the share repurchase
plan and market
conditions during the period.
III. Other Notes
The Company will implement share
repurchase in strict accordance with the relevant requirements and
fulfill the obligation of disclosing information in a timely manner
according to the market situation. Investors are advised to pay
attention to the investment risks.
Ming Yang
Smart Energy Group Limited
1 February,
2024