Ming Yang Smart Energy's 2025 stock option plan approved after internal review

Ming Yang Smart Energy Group announced its Board of Directors' Remuneration and Appraisal Committee has completed verification of the incentive recipients for its 2025 Stock Option Incentive Plan. The plan and its summary were deliberated and approved during the third Board of Directors' twenty-fourth meeting on September 25, 2025. The company then disclosed the "2025 Stock Option Incentive Plan (Draft)" and the "Implementation and Appraisal Management Measures for the 2025 Stock Option Incentive Plan" on the Shanghai Stock Exchange website on September 26, 2025.

Internal public disclosure of the proposed incentive recipients' names and positions took place from September 29, 2025, to October 10, 2025, lasting over 10 days. During this period, the Remuneration and Appraisal Committee received no objections or feedback from employees regarding the listed individuals or their information. The committee verified the recipients' names, identity information, employment contracts, and company roles.

The committee confirmed that all listed recipients meet the eligibility criteria outlined in the "Administrative Measures for Equity Incentives for Listed Companies" and the company's Articles of Association. The committee also ascertained that the recipients' basic information is accurate, without any false statements or omissions, and that they are all mid-to-senior management personnel or core technical/business staff employed by the company (including its controlled subsidiaries) at the time of the plan's announcement. The recipients are not disqualified under any circumstances, including not being deemed inappropriate persons by the securities exchange or the China Securities Regulatory Commission within the last 12 months, and do not include independent directors or shareholders holding 5% or more of the company's shares.