Completion of Non-Trading Transfer for 2025 ESOP

Ming Yang Smart Energy Group Ltd

29 December 2025

 

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)

Ming Yang Smart Energy Group Limited

Announcement on the Completion of Non-Trading Transfer for the 2025 ESOP

Disclosure time and announcement title of the Draft ESOP	Time: September 26, 2025 Title: 2025 ESOP (Draft) of Ming Yang Smart Energy Group Limited
Completion time of transfer	December 26, 2025
Transfer price, quantity and percentage of the total share capital	Price: RMB 7.02/share Quantity: 9.79 million shares, accounting for 0.43% of the total share capital

I. Overview of the ESOP

Ming Yang Smart Energy Group Limited (the "Company") held the 24th meeting of the third Board on September 25, 2025, and the third extraordinary shareholders' meeting on October 20, 2025, where the Proposal on the Company's 2025 ESOP (Draft) and its Summary and other relevant proposals were reviewed and passed, approving the implementation of the Company's 2025 ESOP (the "ESOP"). The total number of employees participating in the ESOP shall not exceed 110. The total number of underlying shares to be held shall not exceed 10 million shares. The source of these shares is the stock repurchased by the Company and held in a dedicated repurchase securities account. The purchase price for these repurchased shares under the ESOP is RMB 7.02 per share. For detailed information, please refer to the announcements disclosed on designated information disclosure media on September 26, 2025 and October 21, 2025.

II. Completion of Transfer for the ESOP

In accordance with the Guiding Opinions on the Pilot Implementation of ESOP by Listed Companies, the Guidelines No. 1 of Shanghai Stock Exchange for Self-Regulation of Listed Companies - Standardized Operation, and other relevant regulations, the implementation progress of the ESOP is announced as follows:

According to the actual subscription situation of the participants and the final payment verification results, a total of 107 employees actually participated in the subscription of the ESOP. The subscription funds have been fully paid, with a final number of subscribed shares of 9.79 million, and the total subscription funds amounting to RMB 68.7258 million. The number of shares corresponding to the subscribed shares is 9.79 million, and the source of the stocks is the ordinary shares repurchased through the Company's dedicated repurchase account.

On December 29, 2025, the Company received the Securities Transfer and Registration Confirmation Form issued by China Securities Depository and Clearing Corporation Limited Shanghai Branch, stating that the shares held in the dedicated repurchase account were transferred to the "Ming Yang Smart Energy Group Limited - 2025 ESOP" dedicated securities account on December 26 2025, at a non-trading transfer price of RMB 7.02 per share. The number of shares transferred was 9.79 million, accounting for 0.43% of the Company's current total share capital. Except for three individuals who voluntarily gave up their respective shares, there is no difference between the actual transfer of shares under the ESOP and the plan approved by the Shareholders' Meeting.

III. Subsequent Arrangement of the ESOP

According to the 2025 ESOP of Ming Yang Smart Energy Group Limited, the duration of the ESOP shall not exceed 36 months, starting from the date when the Draft ESOP is approved by the Shareholders' Meeting and the Company announces the transfer of the last batch of underlying shares to the ESOP. The underlying shares acquired under the ESOP shall be unlocked in two phases, with the unlocking time being 12 months and 24 months from the date the Company announces the transfer of the last batch of underlying shares to the ESOP. The proportion of underlying shares unlocked in each phase is 50%, and the specific unlocking proportion and quantity for each year are determined based on the Company's performance assessment indicators and the assessment results of the holders. The underlying shares acquired under the ESOP, as well as shares derived from stock dividends and capital reserve conversions, are also subject to the aforementioned stock lock-up arrangements.

The Company will continue to monitor the implementation progress of the ESOP and fulfill its information disclosure obligations in a timely manner in accordance with relevant laws and regulations. Investors are kindly reminded to pay attention to investment risks.

Ming Yang Smart Energy Group Limited

29 December, 2025

 

END