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 of the Soon-To-Expire Lock-Up Period of Global Depositary Receipts

The board of directors of Ming Yang Smart Energy Group Limited (the "Company") hereby announces that:

l The period (the "Lock-up Period") during which the global depository receipts ("GDRs") representing A Shares issued by the Company listed the Shanghai Stock Exchange ("A Shares") may not be redeemed pursuant to the "Provisions on the Regulation of the Depositary Receipt Business under the Stock Connect Scheme between Domestic and Overseas Stock Exchanges" (《境内外证券交易所互联互通存托凭证业务监管规定》) published by the China Securities Regulatory Commission ("CSRC") on 11 February 2022 will expire on 9 November 2022 (London time).

l Upon the expiration of the Lock-up Period, GDRs may be redeemed into A Shares of the Company, which will result in a corresponding decrease in the number of A Shares of the Company held on behalf of Citibank, N.A., the depositary for the GDRs of the Company (the "Depositary"), as a nominee holder. As at the date this announcement, 33,660,500 GDRs are in issue, representing 168,302,500 A Shares, representing 7.41% of the total share capital of the Company.

l The GDRs may be redeemed from 10 November 2022 (Beijing time) (Any reference to time in this announcement, if not otherwise specified, shall be a reference to Beijing time).

l Under the arrangements for cross-border conversion of GDRs, the cross-border conversion of GDRs will not result in the issuance of A Shares of the Company nor change the number of A Shares of the Company in issue, and will have no impact on the share capital of the Company.

Arrangements for cross-border conversion of GDRs and information on redemption restriction

Following expiry of the Lock-Up Period, in addition to trading GDRs through the International Order Book of the London Stock Exchange, qualified international investors can also carry out cross-border conversions between GDRs and A shares through cross-border conversion institutions ("Designated Brokers"). As of the date of this announcement, according to the public information released by the Shanghai Stock Exchange, a total of 12 Designated Brokers have completed their registration as cross-border conversion institutions.

Cross-border conversion includes the deposit of A shares into the GDR facility and issuance of GDRs ("creation") or the redemption of GDRs and withdrawal of relevant A shares from the GDR facility ("redemption"). Designated Brokers shall conduct free of payment transfers of A shares arising from the creation or redemption of GDRs through dedicated securities accounts for cross-border conversion with the Clearing Corporation Limited (the "CSDC"). In the case that an overseas market investor creates or redeems GDRs, the CSDC shall match the instructions sent by the Depositary and the relevant Designated Broker, and conduct free of payment transfer of the corresponding A Shares at the end of the business day after matching those instructions and confirming that relevant underlying A shares are sufficient.

Designated Brokers shall engage members of Shanghai Stock Exchange to trade A shares on the Shanghai Stock Exchange and request the depositary to create or redeem the GDRs. In particular:

l Creation: As instructed by investors, Designated Brokers may engage members of Shanghai Stock Exchange to buy A Shares and deliver to the Depositary, and instruct the Depositary to issue and deliver the corresponding GDRs to the investors. The GDRs created therefrom may be traded on the Shanghai-London Stock Connect segment of the main market of the London Stock Exchange.

l Redemption: As instructed by investors, Designated Brokers may instruct the Depositary to cancel GDRs, following which the Depositary shall deliver the underlying A shares represented by such GDRs to the Designated Brokers who will then engage members of Shanghai Stock Exchange to sell such A Shares and deliver the proceeds to the investors.

Pursuant to the Approval of Issuance and Listing of Global Depositary Receipts on the London Stock Exchange plc by Ming Yang Smart Energy Group Limited granted by the CSRC (CSRC Approval No. [2022] 1427) (《关于核准明阳智慧能源集团股份公司首次公开发行全球存托凭证（GDR）并在伦敦证券交易所上市的批复》（证监许可[2022]1427号), the maximum number of GDRs of the Company may not exceed 33,660,500 and the maximum number of the corresponding underlying A Shares may not exceed 168,302,500. If the number of GDRs increases or decreases due to factors such as a bonus issue, share split or consolidation and adjustment of conversion ratio by the Company, the maximum number of GDRs can be adjusted accordingly.

The Board of Directors of Ming Yang Smart Energy Group Limited

31 October 2022