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 of 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 Second Phase of the Plan
to 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.
The Initial Repurchase of Corporate Shares
On 21 February 2024, the Company
implemented its initial repurchase, and in accordance with the
Rules for Share Repurchase of Listed Companies and the Guidelines
for Self-regulation of Listed Companies on Shanghai Stock Exchange
No.7 - Share Repurchase and other relevant regulations, the initial
repurchase of the corporate shares is hereby announced as
follows:
The Company initially repurchased
1,000,000 shares through centralized competitive trading,
accounting for 0.04% of the Company's current total share capital
(i.e., 2,271,759,206 shares), with the highest price of RMB9.60 per
share and the lowest price of RMB9.55 per share traded, and a total
amount of RMB9,572,085.00 has been paid (excluding transaction
fees). The repurchase is in compliance with relevant laws and
regulations and the Company's established share repurchase
plan.
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.
21 February 2024
