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 Plan to Repurchase Shares

I. Basic Information on the Repurchase Plan

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 to Repurchase Shares through Centralized Competitive Trading (Announcement No.: 2023-029) and the Repurchase Report on the Repurchase of Shares by means of Centralized Bidding Transaction (Announcement No.: 2023-031) disclosed by the Company on May 5 and May 10, 2023 respectively on the designated information disclosure media.

II. Progress of the Repurchase Plan

According to the Share Repurchase Rules of Listed Companies and the Self-Regulatory Guidelines for Listed Companies of the Shanghai Stock Exchange No. 7 -- Share Repurchase and other related regulations, listed companies shall announce the progress of the share repurchase as of the end of the previous month within the first 3 trading days of each month. The progress of the Company's share repurchase is hereby announced as follows:

As of May 31, 2023, the Company has not repurchased the Company's shares through the trading system of the Shanghai Stock Exchange by means of centralized bidding transaction. The repurchase was in compliance with the requirements of laws and regulations and the requirements of the Company's share repurchase plan.

III. Further Elaboration

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

2 June, 2023