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 2022 Dividend Distribution

IMPORTANT NOTICE:

l  Distribution ratio per share: Cash dividend of RMB0.3041 per A share

l  Relevant Date (Beijing time)

Class of shares	Registration date	Last trading day	Ex-right (ex-dividend) date	Cash dividend payment date
A Share	2023/6/13	－	2023/6/14	2023/6/14

l  Differentiated dividend distribution: No

I.     Session and Date of the General Meeting Approving the Distribution Plan

The profit distribution plan was considered and approved at the 2022 annual general meeting of the Company held on 25 May 2023.

II.   Distribution Plan

1.    Year of distribution: Year 2022

2.  Target of distribution:

All shareholders of the Company whose names appear on the register of members maintained by China Securities Depository and Clearing Corporation Limited, Shanghai Branch (“CSDC Shanghai Branch”) as at the afternoon of record date after the close of trading on the Shanghai Stock Exchange.

3.    Distribution plan:

The profit distribution was based on the total share capital of 2,271,983,706 shares of the Company before the implementation of the plan, with a cash dividend of RMB0.3041 (tax inclusive) per share and a total cash dividend of RMB690,910,245.00.

III.  Relevant Date (Beijing time)

Class of shares	Registration date	Last trading day	Ex-right (ex-dividend) date	Cash dividend payment date
A Share	2023/6/13	－	2023/6/14	2023/6/14

IV.  Distribution Implementation Measures

1.    Implementation measures

Except for the Company’s self-distribution target, the dividend of the remaining shareholders shall be distributed to the shareholders whose names appear on the register of members after the close of trading of the Shanghai Stock Exchange on the record date and who have completed designated transactions on the Shanghai Stock Exchange through the clearing system of CSDC Shanghai Branch. Investors who have completed a designated transaction may receive cash dividends from their designated securities branches on the dividend distribution date. The dividends of the shareholders who have not completed designated transactions are temporarily retained by CSDC Shanghai Branch and will be distributed after completing the designated transactions.

2.    Self-distribution target

Ming Yang New Energy Investment Holding Group Co., Ltd., Zhongshan Ruixin Enterprise Management Consulting Partnership (Limited Partnership), WISER TYSON INVESTMENT CORP LIMITED, FIRST BASE INVESTMENTS LIMITED and KEYCORP LIMITED.

3.    Explanation of tax deduction

(1) For natural person shareholders and securities investment fund who hold circulating shares not subject to trading moratorium of the Company

Pursuant to the Notice on Relevant Issues Concerning Differential Individual Income Tax Policies on Dividends and Bonuses of Listed Companies (Cai Shui [2015] No. 101) and the Notice on Relevant Issues Concerning the Implementation of Differential Individual Income Tax Policies on Dividends and Bonuses of Listed Companies (Cai Shui [2012] No. 85), the Company will not withhold individual income tax for the time being. The actual cash dividend is RMB0.3041 per share. When individuals transfer their shares, CSDC Shanghai Branch shall calculate the actual amount of tax payable according to its term of shareholding, and the securities company and other share custodian institutions shall deduct the tax from their capital accounts and transfer the tax to CSDC Shanghai Branch. CSDC Shanghai Branch will transfer the tax to the Company within 5 working days of the following month. The Company will declare and pay the tax to the competent tax authority within the statutory declaration period of the month in which the tax is received.

The actual tax burden is as follows: if the stock holding period is one month or less, the incomes from dividends and bonuses shall be included into the taxable incomes in full amount, and the actual tax rate shall be 20%; if the stock holding period is more than one month but up to one year, the incomes from dividends and bonuses shall be included into the taxable incomes at the reduced rate of 50% for the time being, and the actual tax rate shall be 10%; if the stock holding period is more than one year, the incomes from dividends and bonuses shall be temporarily exempted from individual income tax.

(2) For natural person shareholders and securities investment fund who hold circulating shares subject to trading moratorium of the Company

Pursuant to the Notice on Relevant Issues Concerning the Implementation of Differential Individual Income Tax Policies on Dividends and Bonuses of Listed Companies (Cai Shui [2012] No. 85), the Company shall withhold and pay individual income tax at the rate of 10% for the incomes from dividends and bonuses before expiration of lock-up. The actual cash dividend after tax is RMB 0.27369 per share.

(3) For qualified foreign institutional investors (“QFII”) who hold shares of the Company

Pursuant to the Notice of the State Administration of Taxation on Relevant Issues Concerning the Withholding and Payment of Enterprise Income Tax Relating to the Payment of Dividends, Bonus and Interest by PRC Resident Enterprises to QFII (Guo Shui Han [2009] No. 47), the Company shall withhold and pay enterprise income tax at a unified rate of 10%. The actual cash dividend after tax is RMB0.27369 per share. If relevant shareholders consider that their dividends bonus shall be treated in accordance with any tax treaty (arrangement), they may file an application to the competent tax authorities for a tax refund after receiving such dividends bonus in accordance with the requirements.

(4) For investors of The Stock Exchange of Hong Kong Limited (including enterprises and individuals) holding A shares of the Company through Northbound Trading

Pursuant to the Notice of the Ministry of Finance, State Taxation Administration and CSRC on Relevant Taxation Policies Concerning the Pilot Inter-connected Mechanism for Trading on the Shanghai Stock Market and the Hong Kong Stock Market (Cai Shui [2014] No. 81), for investors of the Hong Kong market (including enterprises and individuals) investing in A shares through Northbound Trading, the Company shall withhold and pay income tax at the rate of 10%. The actual cash dividend after tax is RMB0.27369 per share.

The record date of entitlement and the date of payment of cash dividends and other arrangements for the investors of Northbound Trading will be the same as those for the holders of A shares of the Company.

(5) For qualified investors who meet the relevant domestic and overseas regulatory requirements for investing in Global Depositary Receipts (“GDR”) issued by the Company on the London Stock Exchange

Pursuant to the relevant tax provisions of the Enterprise Income Tax Law of the People’s Republic of China, the cash dividends for the investors of the GDRs will be distributed by the Company to Citibank, National Association, the nominal holder of the domestic underlying A shares corresponding to the GDRs. The Company shall withhold income tax at a tax rate of 10%. The actual cash dividend after tax is RMB0.27369 per share. If relevant shareholders consider that their dividends bonus shall be treated in accordance with any tax treaty (arrangement), they may file an application to the competent tax authorities for a tax refund after receiving such dividends bonus in accordance with the requirements.

The record date for the investors of GDRs will be the same as those for the holders of A shares of the Company. Cash dividends will be distributed by Citibank, National Association to the investors of GDRs through Euroclear Bank SA/NV and Clearstream Banking, S.A. on 21 June 2023 (London Time).

(6) For other institutional investors and corporate shareholders

The Company will not withhold and pay enterprise income tax, but the taxpayer should make its own judgement on whether the enterprise income tax should be paid locally according to the tax law. The actual cash dividend is RMB0.3041 per share.

V.   Relevant Consultation Measures

If you are in any doubt as to the implementation of the dividend distribution, you should consult by the following methods :

Contact department: Office of the Board of Directors of Ming Yang Smart Energy Group Limited

Tel: +86 760 28138632

Ming Yang Smart Energy Group Limited

7 June, 2023