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

On May 4, 2023, Ming Yang Smart Energy Group Limited (the "Company") held the 39^th meeting of the second session of the board of directors and considered and approved the Proposal on the Plan for Repurchasing Company Shares by means of Centralized Bidding Transaction. The Company agreed to use its own funds of no more than RMB1 billion (inclusive) and no less than RMB500 million (inclusive) to repurchase the Company's shares by centralized bidding transaction, for the purpose of implementing equity incentives. The repurchase period shall not exceed 12 months from May 4, 2023.

II. Progress of the Share Repurchase

As of August 15, 2023, the Company repurchased 8,956,500 shares through centralized bidding, accounting for 0.39% of the current total share capital  (i.e. 2,271,983,706 shares) of the Company, with the highest transaction price of RMB 17.99/share, the lowest transaction price of RMB 17.00/share and the total amount paid of RMB155,966,158.00 (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 plans to disclose the interim report for the first half of 2023 on August 31, 2023. According to the relevant laws and regulations, the Company shall not repurchase its shares during the period of 10 trading days immediately preceding the date to announce the interim report for the first half of 2023. After the interim report is published, 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

 15 August, 2023