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)

Progress Announcement on the Non-Trade Transfer of Securities by a Person Acting in Concert with the Controlling Shareholder

Ming Yang Smart Energy Group Limited (hereinafter referred to as "MYSE" or the "Company") has recently received a notice from Hainan Boyun Investment Partnership (Limited Partnership) (hereinafter referred to as "Hainan Boyun"), a person acting in concert with the Company's controlling shareholder, stating that Hainan Boyun has submitted an application for a non-trade transfer of securities to China Securities Depository and Clearing Corporation Limited.

Hainan Boyun is a pre-IPO shareholder of the Company, holding 36,647,003 unrestricted tradable shares of the Company, which accounts for 1.62% of the Company's current total share capital (i.e., 2,261,496,706 shares). Recently, the partners of Hainan Boyun have resolved to dissolve and deregister the partnership. MYSE shares it held will be registered in the names of each partner through a non-trade transfer of securities. The specific shareholding changes are as follows:

I. Non-Trade Transfer of Securities by Hainan Boyun

Note: The number of shares held by the above transferees before the non-trade transfer of securities is the figure as of the disclosure date of this Announcement.

II. Other Relevant Explanations

1. This Change in Equity will cause corresponding changes in the equity of the Company's actual controllers and their persons acting in concert, but it will not lead to any change in the Company's controlling shareholder and actual controllers, nor will it have a significant impact on the Company's governance structure and continuous operation.

2. The transferees of this non-trade transfer of securities (i.e., Beihai Ruiyue Venture Capital Co., Ltd., Chuanwei Zhang, Jinfa Wang, Qiying Zhang, and Jianjun Liu) will strictly comply with relevant laws, administrative regulations, departmental rules, and normative documents, including the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Interim Measures for the Administration of Shareholding Reduction by Shareholders of Listed Companies, and the Shanghai Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 15 - Share Reductions by Shareholders, Directors, and Senior Officers.

Ming Yang Smart Energy Group Limited

September 23, 2026