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 about Share Repurchase

On 4 May 2023, Ming Yang Smart Energy Group Co., Ltd. (hereinafter referred to as the "Company") held its 39th meeting of the 2nd session of the Board of Directors, deliberating and adopting the "Proposal on the Plan to Repurchase Shares of the Company through Centralized Bidding", and agreeing that the Company would use its own funds no more than RMB1,000 million (inclusive) but no less than RMB500 million (inclusive) to repurchase shares of the Company through centralized bidding for the implementation of equity incentives; and the repurchase period this time will not exceed 12 months from 4 May 2023. For details, please refer to the "Announcement on the Plan for Share Repurchase through Centralized Bidding" (Announcement No.: 2023-029) and the "Repurchase Report on Share Repurchase through Centralized Bidding" (Announcement No.: 2023-031) disclosed by the Company on 5 May 2023 and 10 May 2023, respectively, on the designated information disclosure media.

According to the "Repurchase Report on Share Repurchase through Centralized Bidding" issued by the Company, in the event of any ex-right or ex-dividend matter like capital reserve conversion to share capital, share bonus, cash dividend, share allotment, etc. during the repurchase period, the repurchase price ceiling will be adjusted accordingly pursuant to relevant laws and regulations of China Securities Regulatory Commission and Shanghai Stock Exchange from the date of ex-right or ex-dividend. The repurchase price ceiling this time is adjusted from no more than RMB20/share (inclusive) to no more than RMB19.70/share (inclusive). For details, please refer to the "Announcement on Adjusting Repurchase Price Ceiling after the Implementation of Equity Distribution in 2022" (Announcement No.: 2022-037) disclosed by the Company on the designated information disclosure media on 8 June 2023.

II. Information about First Repurchase of Shares of the Company

On 16 June 2023, the Company has implemented its first repurchase. According to the Rules on Share Repurchase by Listed Companies, the Guidelines for Self-regulation of Listed Companies on Shanghai Stock Exchange No.7 - Share Repurchase and other relevant regulations, the first repurchase of shares of the Company is hereby announced as follows:

The Company repurchased 300,000 shares for the first time through centralized bidding, accounting for 0.01% of the current total share capital (i.e. 2,271,983,706 shares) of the Company, with the highest transaction price of RMB 17.31/share, the lowest transaction price of RMB 17.00/share and the total amount paid of RMB 5,142,000.00 (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 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.

16 June 2023