MING YANG SMART ENERGY GROUP LIMITED

(GDR underthe symbol: "MYSE")

(a joint stock company established underthe laws of the People’s Republic of China with limited liability)

Announcement onthe Progress of the Share Repurchase

I.Basic Information about Share Repurchase

Ming Yang Smart Energy Group Limited (hereinafterreferred to as the “Company”) held the 5th meeting of the third session of theBoard of Directors on 19 February 2024, deliberating and adopting the “Proposalon the Plan to the Second Repurchase Corporate Shares through CentralizedCompetitive Trading”, agreeing that the Company use its self-owned funds of nomore than RMB600 million (inclusive) while not less than RMB300 million(inclusive) to repurchase its shares through centralized competitive trading inorder to maintain the Company's value and interest of the shareholders, and therepurchased shares will be used for the purpose of sale in accordance with therelevant regulations, and the part of the shares not sold after the expiry ofthe time limit shall be cancelled in accordance with the law. The repurchaseperiod shall not exceed 3 months from 19 February 2024, and the price ofrepurchased shares shall not exceed RMB15 per share (inclusive).

II.Progress of the Share Repurchase

According to the Share Repurchase Rules of ListedCompanies and the Self-Regulatory Guidelines for ListedCompanies of the Shanghai Stock Exchange No. 7 – Share Repurchase and otherrelated regulations, listed companies shall announce theprogress of the share repurchase as of the end of the previous month within thefirst 3 trading days of each month. The progress of the Second RepurchaseCorporate Shares is hereby announced as follows:

From February 21, 2024 to February 29, 2024, the Companyrepurchased 9,889,400 shares through centralized bidding, accounting for 0.44%of the current total share capital (i.e. 2,271,759,206 shares) of the Company,with the highest transaction price of RMB 10.509/share, the lowest transactionprice of RMB 9.550/share and the total amount paid of RMB 99,994,571.09(excluding transaction fees). The repurchase this time complies with theprovisions of relevant laws and regulations and the established sharerepurchase plan of the Company.

III. Other Notes

The Company will implementshare repurchase in strict accordance with the relevant requirements andfulfill the obligation of disclosing information in a timely manner accordingto the market situation. Investors are advised to pay attention to theinvestment risks.

Ming Yang Smart Energy Group Limited

1 March, 2024