Ming Yang Smart Energy extends project timelines due to construction, approval delays

Ming Yang Smart Energy Group, with CITIC Securities as its sponsor, has announced adjustments to the implementation schedules for certain fundraising projects from its 2020 non-public offering. The company’s board of directors, at its twenty-eighth meeting of the third session on December 23, 2025, approved extending the completion date for the Ming Yang Xinminbao Project from December 31, 2025, to June 30, 2026, and the Ming Yang Chabei Project from December 31, 2025, to December 31, 2026. These adjustments are attributed to delays in grid connection infrastructure for the Xinminbao project and prolonged adverse weather, complex administrative approvals, and grid upgrades for the Chabei project.

As of December 15, 2025, the 2020 non-public offering projects had a cumulative investment of CNY 529,250.24, with CNY 47,954.49 remaining unused. The total fundraising for the 2020 non-public offering amounted to CNY 580,311.23, with a net fundraising of CNY 577,204.73 after deducting issuing expenses of CNY 3,106.50.

The board also approved 21 other resolutions, including revisions to various internal governance documents. Additionally, the board has proposed convening the first extraordinary general meeting of 2026 on January 19, 2026, to further discuss these matters.