REG - Ming Yang Smart Engy - 2024 Dividend Distribution

Ming Yang Smart EnergyAnnouncement

25/06/2025 11:00

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RNS Number : 3732O  Ming Yang Smart Energy Group Ltd  25 June 2025

 

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 the Implementation of 2024 Dividend Distribution

 

Important Notice:

·     Proportion of distribution per share

Cash dividend per share (A share) of RMB 0.3041

 

·     Relevant Date

 Class of shares  Equity record date  Final trading date  Ex-dividend date  Grant date of cash dividend
 A share          2025/7/3            －                   2025/7/4          2025/7/4

 

·     Differentiated dividend transfer:  Yes

 

I. Session and date of general meeting approving the distribution plan

The profit distribution plan was considered and approved by the annual general
meeting for 2024 of the Company on 21 May 2025.

 

II.    Distribution plan

1.    Granting year: 2024

 

2.    Target for 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 of the afternoon of the equity
record date upon the close of business of the Shanghai Stock Exchange.

In accordance with the provisions of the Self-disciplinary Supervision
Guideline for Listed Companies of the Shanghai Stock Exchange No. 7 -
Repurchase of Shares, the shares of the Company deposited in the special
securities account for repurchase will not be involved in the profit
distribution.

 

3.    Differentiated dividend transfer plan:

 (1) Differentiated dividend plan

On 21 May 2025, Ming Yang Smart Energy Group Limited (hereinafter referred to
as the "Company") convened its 2024 annual general meeting, at which the
Proposal on the 2024 Profit Distribution Plan was considered and approved. The
Company proposes to distribute a cash dividend of RMB0.3041 (tax inclusive)
per share to all shareholders for year 2024, based on the total share capital
registered on the equity record date for the implementation of equity
distribution, less the number of the shares in the Company's special
securities account for repurchase. If, prior to the equity record date for the
implementation of equity distribution, there is a change in the Company's
total share capital  as a result of the conversion of the convertible bonds,
repurchase of shares, the repurchase and cancellation of shares granted under
equity incentives, or purchase and cancellation of shares under a major asset
restructuring, the Company proposes to keep the proportion of distribution per
share unchanged and adjust the total amount of the distribution accordingly.

The equity distribution is based on the total share capital of 2,271,496,706
shares as at the equity record date as determined in the implementation
announcement, and after deducting the number of shares in the Company's
special securities account for repurchase of 121,119,984 shares, the actual
number of shares participating in the cash distribution is 2,150,376,722
shares. The cash dividend payable will be RMB0.3041 per share (tax inclusive),
totaling a cash dividend of RMB653,929,561.16 (tax inclusive).

 

(2) Basis for treatment of differentiated dividend (ex-dividend) and formula
for calculating the same

In accordance with the Company Laws, Securities Laws, the Rules for Share
Repurchase by Listed Company, the Self-disciplinary Supervision Guideline for
Listed Companies of the Shanghai Stock Exchange No. 7 - Repurchase of Shares,
and other relevant  laws and regulations, as well as the provisions of
normative documents and the Articles of Association, the Company calculates
the ex-dividend opening reference price in accordance with the following
formula:

Ex-dividend reference price = (previous closing price - cash dividend) ÷ (1 +
percentage of changes in outstanding shares)

According to the profit distribution plan approved by resolutions at the
Company's 2024 annual general meeting, the Company will only distribute cash
dividends. No bonus shares will be awarded and no capital reserves will be
converted into share capital. Therefore, there will be no change in the
Company's outstanding shares, and the percentage of changes in outstanding
shares will be zero.

Cash dividend per share = total share capital participating in the
distribution × actual cash dividend per share ÷ total share capital =
2,150,376,722 × 0.3041 ÷ 2,271,496,706 ≈ RMB0.2879 per share.

The ex-dividend reference price for the calculation of the Company's equity
distribution = RMB(previous closing price - 0.2879) per share.

 

III.  Relevant date

 Class of shares  Equity record date  Final trading date  Ex-dividend date  Grant date of cash dividend
 A share          2025/7/3            －                   2025/7/4          2025/7/4

 

IV.  Distribution implementation method

1.      Implementation method

(1) Shares in the Company's special securities account for repurchases do not
participate in profit distribution;

(2) Apart from the designated targets granted by the Company, the dividends of
other shareholders shall be entrusted to the CSDC Shanghai Branch to
distribute through its fund clearing system to the shareholders registered in
the Shanghai Stock Exchange upon the close of business on the equity record
date who have handled specified transactions in the members of the Shanghai
Stock Exchange. Investors who have handled the specified transaction can
receive the cash dividend at their designated securities sales department on
the dividend payment date. Dividends for shareholders who have not handled the
specified transaction are temporarily kept by CSDC Shanghai Branch and will be
distributed after handling the specified transaction.

 

2.      Designated target of grant

Mingyang New Energy Investment Holdings Group  Co., Ltd. (excluding its
special pledge account for convertible corporate bonds), WISER  TYSON
 INVESTMENT CORP LIMITED, KEYCORP LIMITED, FIRST BASE INVESTMENTS LIMITED.

 

3.      Tax deduction statement

(1) For natural person shareholders and securities investment funds holding
the Company's tradable shares not subject to trading restrictions

In accordance with the relevant provisions of the Notice on Issues Related to
the Differentiated Individual Income Tax Policy of Listed Companies on
Dividends (Cai Shui  2015  No.101) and the Notice on Issues Related to the
Implementation of the Differentiated Individual Income Tax Policy of Listed
Companies on Dividends (Cai Shui  2012  No.85), the Company shall not withhold
individual income tax for the time being, and the actual distribution of the
cash dividend shall be RMB0.3041 per share. When the individual transfers the
shares, the CSDC Shanghai Branch will calculate the actual tax payable
according to its holding period. Stock custodian institutions such as
securities companies will deduct the tax amount from the personal fund account
and transfer it to CSDC Shanghai Branch, which will transfer the tax amount to
the Company within 5 working days of the following month, and the Company will
report and pay the tax to the competent tax authorities within the statutory
declaration period of the month in which the tax amount is received.

The actual tax burden is as follows: If the shareholder's holding period is
less than 1 month (including 1 month), the dividend income is fully included
in the taxable income, and the actual tax burden is 20%; If the holding period
is more than 1 month to 1 year (including 1 year), 50% of the dividend income
shall be included in the taxable income, and the actual tax burden shall be
10%; If the holding period is more than 1 year, the dividend income is
temporarily exempt from individual income tax.

 

(2) For the Qualified Foreign Institutional Investors ("QFII") shareholders
holding shares of the Company

In accordance with the relevant provisions of the Notice of the State
Administration of Taxation on Issues related to the Withholding and Payment of
Corporate Income Tax Upon Payment of Dividends, Bonuses and Interest by
Chinese Resident Enterprises to QFII (Guo Shui Han  2009  No.47), the Company
uniformly withholds and pays the enterprise income tax at a rate of 10%, and
the actual cash dividend after tax deduction is RMB0.27369 per share. If the
relevant shareholders believe that they need to enjoy the tax treaty
(arrangement) treatment for the dividend income obtained, they may, in
accordance with the regulations, submit tax refund applications to the
competent tax authorities on their own after obtaining the dividend income.

 

(3) For investors (including corporations and individuals) of The Stock
Exchange of Hong Kong Limited who hold the Company's A shares through Shanghai
Stock Connect

Pursuant to the relevant provisions of the Notice of the Ministry of Finance,
the State Administration of Taxation and the China Securities Regulatory
Commission on Tax Policies of the Pilot Program for the Shanghai-Hong Kong
Stock Connect Scheme (Cai Shui  2014  No.81), for the Hong Kong market
investors (including both enterprises and individuals) who invest in A shares
through the Shanghai-Hong Kong Stock Connect, the Company withholds and pays
on behalf of the investors income tax at a tax rate of 10%, and the actual
cash dividend after tax deduction is RMB0.27369 per share.

The time schedule of the equity record date and cash dividend distribution
date for Shanghai-Hong Kong Stock Connect investors is consistent with that of
the shareholders of the Company's A shares.

 

(4) Qualified investors ("GDR investors") who meet the relevant domestic and
overseas regulatory rules for investing in Global Depository Receipts issued
by the Company on the London Stock Exchange

In accordance with the relevant tax regulations under the Enterprise Income
Tax Law of the People's Republic of China, the cash dividends for GDR
investors will be paid by the Company to Citibank, National Association, the
nominal holder of the domestic underlying A shares corresponding to the GDRs.
The Company withholds income tax at a rate of 10%, and the actual cash
dividend paid after tax deduction is RMB0.27369 per share. If the relevant
shareholders believe that they need to enjoy the tax treaty (arrangement)
treatment for the dividend income obtained, they may, in accordance with the
regulations, submit tax refund applications to the competent tax authorities
on their own after obtaining the dividend income.

The equity record date for GDR investors is 3 July 2025. The cash dividend
will be paid to GDR investors by Citibank, National Association on 11 July
2025 through Euroclear Bank SA/NV and Clearstream Banking, S.A..

 

(5) For other institutional investors and corporate shareholders

The Company will not withhold or pay any enterprise income tax on behalf of
the taxpayers. It is up to the taxpayers to determine whether they should pay
enterprise income tax locally in accordance with the provisions of the tax
law, and the actual cash dividend paid is RMB0.3041 per share.

 

V.    Relevant inquiries

For any questions about matters related to the implementation of the equity
distribution, please contact us as follows:

 

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

 

Tel: 0760-28138632

Contact email: myse@mywind.com.cn

Ming Yang Smart Energy Group Limited

25 June 2025

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