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. For details,
please refer to the Announcement on the Plan for Repurchasing
Shares by means of Centralized Bidding Transaction and the
Repurchase Report on the Repurchase of Shares by
means of Centralized Bidding Transaction disclosed by the Company on
May 5 and May 10, 2023 respectively on the designated information
disclosure media.
II.
Progress of the Share Repurchase
In January 2024, the Company
repurchased 22,072,000 shares through centralized bidding,
accounting for 0.97% of the current total share capital (i.e.
2,271,759,206 shares) of the Company, with the highest transaction
price of RMB 10.077/share, the lowest transaction price of RMB
9.00/share and the total amount paid of RMB 199,297,822.00
(excluding transaction fees).
As of January 31, 2024, the Company
repurchased 56,925,693 shares through centralized bidding,
accounting for 2.51% of the current total share capital of the
Company, with the highest transaction price of RMB 17.99/share, the
lowest transaction price of RMB 9.00/share and the total amount
paid of RMB 699,978,282.58 (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.
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
31
January, 2024