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

Ming Yang Smart Energy Group Limited (hereinafter referred to as the "Company") held the 5th meeting of the third session of the Board of Directors on 19 February 2024, deliberating and adopting the "Proposal on the Plan to the Second Repurchase Corporate Shares through Centralized Competitive Trading", agreeing that the Company use its self-owned funds of no more than RMB600 million (inclusive) while not less than RMB300 million (inclusive) to repurchase its shares through centralized competitive trading in order to maintain the Company's value and interest of the shareholders, and the repurchased shares will be used for the purpose of sale in accordance with the relevant regulations, and the part of the shares not sold after the expiry of the time limit shall be cancelled in accordance with the law. The repurchase period shall not exceed 3 months from 19 February 2024, and the price of repurchased shares shall not exceed RMB15 per share (inclusive).

II. Progress of the Share Repurchase

As of April 22, 2024, the Company repurchased 23,176,000 shares through centralized bidding, accounting for 1.02% of the current total share capital of the Company, with the highest transaction price of RMB 10.54/share, the lowest transaction price of RMB 8.756/share and the total amount paid of RMB  232,357,432.55  (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.

The Company will make repurchase as appropriate according to the share repurchase plan and market conditions during the period.

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

23 April, 2024