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 Shareholding Increase Plan of the Chairman, Chief Executive Officer and Actual Controller of the Company

Important Notice:

l Mr. ZHANG Chuanwei, the Chairman, Chief Executive Officer (General Manager) and an actual controller of the Company, intends to increase his shareholding in the Company through centralized bidding transactions via the trading system of Shanghai Stock Exchange within 6 months from the disclosure date of this announcement, with a total amount of not less than RMB20 million and not exceeding RMB30 million. The shareholding increase will not set a price range, and will be implemented at any time based on the fluctuations of share price of the Company and the overall trend of the capital market.

l The Shareholding Increase Plan may not meet its expectations due to the changes in policies or the capital market as well as unpredictable factors. Investors are advised to pay attention to such risks.

Recently, Ming Yang Smart Energy Group Limited (the "Company") has received the Notification on Shareholding Increase Plan from Mr. ZHANG Chuanwei, the Chairman, Chief Executive Officer (General Manager) and an actual controller of the Company, pursuant to which, Mr. ZHANG Chuanwei intends to increase his shareholding in the Company through centralized bidding transactions via the trading system of Shanghai Stock Exchange within 6 months from the disclosure date of this announcement, based on his confidence in the development prospects of the Company and his recognition of the long-term investment value of the Company's shares. The details are announced as follows:

I.  Basic Information on the Shareholding Increase Party

(I)       Name of Shareholding Increase Party: Mr. ZHANG Chuanwei, the Chairman, Chief Executive Officer (General Manager) and an actual controller of the Company.

(II)      The number of shares held by and the shareholding ratio of the Shareholding Increase Party: As at the date of this announcement, Mr. ZHANG Chuanwei, an actual controller of the Company, Ms. WU Ling (spouse of ZHANG Chuanwei) and Mr. ZHANG Rui (son of ZHANG Chuanwei) controlled 25.34% voting rights of the Company through Mingyang New Energy Investment Holding Group Co., Ltd., but Mr. ZHANG Chuanwei himself did not directly hold any shares in the Company.

(III)    The Shareholding Increase Party did not disclose any shareholding increase plan within the twelve months prior to this announcement.

II.       Main Contents of the Shareholding Increase Plan

(I)  Purpose of the intended shareholding increase: Based on its confidence in the development prospects of the Company and its recognition of the long-term investment value of the Company's shares.

(II) Category of shares under the intended shareholding increase: Renminbi ordinary shares (A shares) of the Company.

(III)      Number or amount of shares under the intended shareholding increase: Not less than RMB20 million and not exceeding RMB30 million.

(IV)      Price of shares under the intended shareholding increase: The shareholding increase will not set a price range, and will be implemented at any time based on the fluctuations of share price of the Company and the overall trend of the capital market.

(V) Implementation period of the Shareholding Increase Plan: Within 6 months from the disclosure date of this announcement. If the Company suspends the trading of its shares due to planning of a material event for more than 10 consecutive trading days during the implementation period, the Shareholding Increase Plan will be duly extended after the resumption of trading.

(VI)      Arrangement of funds for the intended shareholding increase: Self-owned funds.

(VII)     Method of the intended shareholding increase: The Shareholding Increase Party will increase its shareholding in the Company directly through centralized bidding transactions via the trading system of Shanghai Stock Exchange.

III.      Risks in Relation to Uncertainties of the Shareholding Increase Plan

The Shareholding Increase Plan may not meet its expectations due to the changes in policies or the capital market as well as unpredictable factors. Investors are advised to pay attention to such risks.

IV.      Other Descriptions

The Shareholding Increase Party undertakes that it will not reduce its shareholding in the Company during the implementation period of the Shareholding Increase Plan or any other periods specified by law.

The Shareholding Increase Plan will neither affect the listing status of the Company, nor will it result in the Company's shareholding distribution not meeting the listing requirement, or lead to any changes in controlling shareholders and actual controllers of the Company.

The Company will continue to pay attention to the development regarding the shareholding increase and make timely disclosure of the relevant information pursuant to the Rules Governing the Listing of Stocks on the Shanghai Stock Exchange, the Measures for the Administration of the Takeover of Listed Companies, and the Guidelines No. 8 of the Shanghai Stock Exchange for Self-regulation of Listed Companies - Management on Share Changes.

Ming Yang Smart Energy Group Limited

25 August, 2023