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
According to the Share Repurchase
Rules of Listed Companies and the Self-Regulatory Guidelines for Listed Companies of the
Shanghai Stock Exchange No. 7 - Share Repurchase and other related
regulations, listed
companies shall announce the progress of the share repurchase as of
the end of the previous month within the first 3 trading days of
each month. The progress of the Second Repurchase Corporate Shares
is hereby announced as follows:
In March 2024, the Company
repurchased 9,586,600 shares through centralized bidding,
accounting for 0.42% of the current total share capital (i.e.
2,271,759,206 shares) of the Company, with the highest transaction
price of RMB 10.54/share, the lowest transaction price of RMB
9.92/share and the total amount paid of RMB 97,686,252.20
(excluding transaction fees).
As of March 31, 2024, the Company
repurchased 19,476,000 shares through centralized bidding,
accounting for 0.86% 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 9.55/share and the total amount
paid of RMB 197,680,823.29 (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.
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
2
April, 2024