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 Implementation of Cancellation of Repurchased Shares
Ming Yang Smart Energy Group Limited (hereinafter referred to as the "Company") plans to cancel 10,000,000 shares that have been repurchased but not yet used in the repurchase-specific securities account. After the cancellation is completed, the Company's total share capital will decrease from 2,271,496,706 shares to 2,261,496,706 shares, and the Company's registered capital will decrease from RMB 2,271,496,706 to RMB 2,261,496,706. The relevant details are hereby announced as follows:
I. Basic Information on the Share Repurchase
On May 4, 2023, the Company held the 39th meeting of the second Board, reviewed and approved the Proposal on the Plan for Share Repurchase Through Centralized Bidding, agreeing to use no more than RMB 1 billion (inclusive) and no less than RMB 500 million (inclusive) of its own funds to repurchase the Company's shares through centralized bidding for the purpose of implementing equity incentives.
On February 2, 2024, the Company completed the repurchase, cumulatively repurchasing 89,813,484 shares through centralized bidding. For details, see the Announcement on the Implementation Results of Repurchase Of Share by the Company and Changes in Shareholding Structure on February 2, 2024.
On February 19, 2024, the Company held the 5th meeting of the third Board, reviewed and approved the Proposal on the Plan for the Second Phase of Share Repurchase Through Centralized Bidding, agreeing to use no more than RMB 600 million (inclusive) and no less than RMB 300 million (inclusive) of its own funds to repurchase the Company's shares through centralized bidding for the purpose of maintaining the Company's value and shareholders' equity.
On May 15, 2024, the Company completed the repurchase, cumulatively repurchasing 31,306,500 shares through centralized bidding. For details, see the Announcement on the Results of Share Repurchase and Changes in Shareholding Structure on May 15, 2024.
In summary, before the current cancellation of repurchased shares, the number of shares in the Company's repurchase-specific securities account was 121,119,984.
II. Decision-making procedures and information disclosure for the current cancellation of repurchased shares
The Company held the 24th meeting of the third Board on September 25, 2025, and the third extraordinary shareholders' meeting in 2025 on October 20, 2025, and reviewed and approved the Proposal on Changing the Purpose of and Partially Cancelling the Repurchased Shares, the Proposal on Changing the Registered Capital, and the Proposal on Amending the Articles of Association, agreeing to change the purpose of 89,813,484 shares under the first repurchase plan approved by the 39th meeting of the second Board to 10,000,000 shares for cancellation and corresponding reduction of registered capital, with the remaining 79,813,484 shares used for ESOP or equity incentives.
The Company has fulfilled the procedure of notifying creditors regarding the cancellation of repurchased shares in accordance with the law. For details, see the Announcement on Notifying Creditors of Cancellation of Repurchased Shares to Reduce Registered Capital disclosed by the Company on designated information disclosure media on October 21, 2025. As of the date of this announcement, the notification period has expired for 45 days, and the Company has not received any claims from creditors for debt repayment or provision of guarantees.
The Company has submitted an application for share cancellation to the Shanghai Stock Exchange. The share cancellation will be completed on December 9, 2025. The procedures, number of shares cancelled, completion date and cancellation period of the cancellation of repurchased shares comply with the relevant requirements of laws and regulations.
III. Changes in the Company's share capital structure after this cancellation process
After the cancellation process is completed, the changes in the Company's share capital structure are as follows:
Unit: share
| Category |
Before the change |
This change |
After the change |
| Restricted shares |
0 |
0 |
0 |
| Non-restricted shares |
2,271,496,706 |
-10,000,000 |
2,261,496,706 |
| Total |
2,271,496,706 |
-10,000,000 |
2,261,496,706 |
Note: the above changes in share capital structure are subject to the share capital structure table issued by the China Securities Depository and Clearing Corporation Limited Shanghai Branch after the completion of the cancellation.
IV. Impact of the cancellation of shares on the Company
The cancellation of shares has been carried out in accordance with relevant laws and regulations, and the corresponding review, decision-making, and information disclosure procedures have been completed. This will not have a significant impact on the Company's financial condition and operating results, will not result in a change in the Company's control, and does not harm the interests of the Company or its investors. After this cancellation process, the Company's equity distribution still meets the conditions for a listed company and will not affect the Company's listing status. The Company will subsequently handle the registration and filing of business changes with industrial and commercial authorities in accordance with relevant laws and regulations, and fulfill information disclosure obligations in a timely manner.
Ming Yang Smart Energy Group Limited
8 December, 2025