Ming Yang Smart Energy shareholder unwinds significant share pledge

Ming Yang Smart Energy Group Co. announced that shareholder Zhongshan Ruixin Enterprise Management Consulting Partnership has completed the release of a pledge on 17,803,500 shares. These shares represent 99.9995% of Zhongshan Ruixin's total holdings and 0.78% of Ming Yang Smart Energy's current total share capital. The release occurred recently and is due to the full repayment of the associated debt, with no further pledging plans at this time.

Following this release, the aggregate pledged shares of Ming Yang Smart Energy's controlling shareholder, Mingyang New Energy Investment Holding Group Co., Ltd. (Nengtou Group), and its related parties now stand at 25,385,000 shares. This represents 43.92% of their total holdings and 11.18% of the company's current total share capital of 577,980,900 shares.

The company confirmed that this share pledge release will not result in a change of control, nor will it negatively impact the company's operations, equity structure, corporate governance, or the fulfillment of performance compensation obligations.