Ming Yang Smart Energy Group Limited announced its intention to proceed with an offering (the "Offering") of global depositary receipts (the "GDRs")with each GDR representing 5A shares of the Company, each with a fully paid nominal value of RMB 1.00 each (the "A Shares")(the "Offer GDRs"). The Offering is expected to raise approximately $550 million. The Offering is expected to price no lower than $20.22 per GDR. The final offer price in respect of the Offering (the "Offer Price")will be determined based on a book-building process.

The book-building process is expected to commence immediately and end today. The GDRs are expected to be admitted to listing on the standard segment of the Official List maintained by the FCA and to trading on the Shanghai-London Stock Connect segment of the Main Market of the LSE (together the "Admission"). Admission and commencement of unconditional trading in the GDRs is expected to take place on or around 13 July 2022.

The GDRs are expected to be admitted to listing on the standard segment of the Official List maintained by the FCA and to trading on the Shanghai-London Stock Connect segment of the Main Market of the LSE. The Offering is expected to price no lower than $20.22 per GDR. UBS AG London Branch, HSBC Bank plc and CLSA Limited are acting as Joint Global Co-ordinators and Joint Bookrunners (together, the "Joint Global Co-ordinators"), and China International Capital Corporation (UK) Limited and Haitong International Securities Company Limited are acting as Joint Bookrunners (together with the Joint Global Co-ordinators, the "Joint Bookrunners").