Ming Yang Smart Energy Group Limited announced that it has entered into a subscription agreement with Mingyang New Energy Investment Holding Group Co., Ltd. for a private placement of 146,735,143 shares at an issue price of CNY 13.63 per share for gross proceeds of CNY 1,999,999,999.09 on April 29, 2021. The transaction has been approved by the company’s directorate and investor's shareholders’ meeting. The securities will not be transferred until 18 months after the issuance. The transaction is subject to approval from the company’s shareholders’ meeting and China Securities Regulatory Commission.