REG - Ming Yang Smart Engy - Progress of External Investment

Ming Yang Smart EnergyAnnouncement

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RNS Number : 3604Y  Ming Yang Smart Energy Group Ltd  27 March 2026

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 Progress of External Investment

Ming Yang Smart Energy Group Limited (hereinafter referred to as "the
Company") announced its plan to build the UK's first full industry chain
integrated wind turbine manufacturing base in Scotland with the total
investment of GBP 1.5 billion, equivalent to approximately RMB 14.21 billion
(based on the RMB central parity rate on October 10, 2025) which will be used
to construct manufacturing facilities for offshore and floating wind turbines.
The plan is expected to be carried out in three phases. For more details,
please refer to the Announcement on Planning External Investment released on
October 13, 2025.

Recently, the Company has noted media reports stating that the UK government
has rejected the company's investment to build a factory in Scotland. To
protect the rights and interests of investors, the Company hereby provides the
following clarification:

I. Verification of Media Reports

Relevant media reports claim that the UK government has rejected the Company's
plan to build the UK's first full-industry-chain integrated wind turbine
manufacturing base in Scotland on grounds of national security. Having noticed
the relevant media reports, the Company has actively verified the relevant
situation. As of the disclosure date of this Announcement, the Company has not
yet received a formal response from the UK government regarding its investment
plan for the construction of a factory. The Company will maintain continuous
communication with the UK government on relevant matters and will disclose
relevant progress in a timely manner.

II. Relevant Risk Warnings

1. This plan is subject to final approval from the UK government, the National
Development and Reform Commission of the People's Republic of China, and the
Ministry of Commerce of the People's Republic of China, among others. There is
uncertainty regarding this external investment, and it cannot be ruled out
that the project may be terminated due to the inability to obtain approval.

2. As of the disclosure date of this Announcement, the Company has not yet
invested any funds in the aforementioned project. This plan involves complex
international circumstances, a long construction period, and a large
investment amount, making it difficult to accurately estimate its impact on
the Company's profits. During construction, there may be risks such as
increased construction costs and delays in construction progress.

3. This investment plan involves a complex international environment and is
subject to multiple factors such as geopolitics, macroeconomic fluctuations,
and policy changes. As a result, the project may face delays in progress or
fail to achieve expected results, and the investment plan may be subject to
the risk of adjustment or change.

4. There are certain differences between China and overseas in terms of legal
systems, geopolitical factors, policy frameworks, business environments, and
cultural characteristics. The project may face numerous challenges in overseas
market competition, talent team building, and internal operational management
during its future operations, posing certain risks in overseas operations and
management.

5. This plan involves overseas investment, and project investment construction
as well as future project revenues may need to be settled in foreign
currencies. Due to exchange rate fluctuations in international financial
markets, there is a risk of exchange rate fluctuations affecting the actual
investment costs and future returns.

6. Given that the development and potential impact of the relevant events
remain uncertain, the Company will closely monitor the situation, conduct
dynamic assessments, and strictly fulfill its information disclosure
obligations in accordance with laws and regulations. Investors are kindly
reminded to be aware of investment risks.

Going forward, the Company will remain committed to expanding its overseas
markets, advancing its global footprint and the construction of localized
factories, and enhancing its global business coverage and operational
efficiency.

 

 

Ming Yang Smart Energy Group Limited

March 27, 2026

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