Ming Yang Smart Energy announces asset securitization, share repurchase, and incentive plans

Ming Yang Smart Energy Group (SSE:601615) is proceeding with a holding real estate asset-backed special plan, utilizing its subsidiary, Beijing Jieyuan New Energy Investment Co., Ltd., and the Ningtiaoliang Wind Power Project as underlying assets. This initiative, which aims to optimize asset utilization and reduce the debt-to-asset ratio, received board approval on September 25, 2025, and is pending shareholder approval. Concurrently, the company is changing its share repurchase plan, earmarking CNY 10 million of the 8,981.3484 million repurchased shares for cancellation to reduce registered capital. The remaining 7,981.3484 million shares are allocated for an employee stock ownership plan or equity incentives.

In line with these capital adjustments, Ming Yang Smart Energy Group will update its Articles of Association to reflect the reduced registered capital from CNY 2,271,496,706 to CNY 2,261,496,706. The company also introduced a 2025 stock option incentive plan, granting 2,000.00 million options to 260 eligible employees at an exercise price of CNY 14.03 per share, and a 2025 employee stock ownership plan, intending to acquire up to 1,000.00 million shares from the repurchased pool at CNY 7.02 per share. Both incentive plans, approved by the board, require shareholder endorsement at the upcoming Extraordinary General Meeting on October 20, 2025.

Additionally, Ming Yang Smart Energy Group proposes to appoint Ernst & Young Hua Ming LLP as its 2025 financial and internal control audit firm, replacing Ruihua Certified Public Accountants, after nine years of service. This change, approved by the board and its audit committee, also awaits shareholder approval.