Ming Yang Smart Energy : Notice of the Annual General Meeting of 2024
601615.SS
Proposals to 2024 Annual General Meeting of Ming Yang Smart Energy Group Limited
Guangdong, China
21 May 2025
Proposal 1：Annual Work Report of the Board of Directors for 2024
To all shareholders and shareholders' proxies,
In 2024, pursuant to the Company Law and the Securities Law, and according to relevant laws and regulations of the China Securities Regulatory Commission and the Shanghai Stock Exchange, as well as the Articles of Association and the Rules of Procedure for the Board of Directors, the Board of Directors of the Company has conscientiously fulfilled its powers and functions, leveraged the independence of independent directors, implemented the resolutions of the general meetings of shareholders, timely fulfilled its information disclosure obligations, and successfully completed various tasks. All directors of the Company are able to faithfully, honestly and diligently perform their duties subject to the rights and obligations conferred by laws, regulations, and the Articles of Association, offering suggestions and making recommendations to enhance corporate governance and operational efficiency. The work in the past year is now reported as follows:
I. Overall Business Performance of the Company in 2024
Driven by high-quality development and the national "dual carbon" strategy in
2024, China's economy and society have embarked on a comprehensive green transformation. The new energy sector has entered a new stage of development as characterized by the profound integration of technological innovation and industrial innovation, which propels the construction of a new energy system with new energy as the mainstay. This has given rise to new models, new applications and new scenarios for new energy development, ushering in profound industry changes.
This year marks the first year of Ming Yang's journey of "starting anew after three decades". We have firmly grasped the development laws of intelligent and inclusive new energy, promoting strategic execution with unprecedented strategies. We have focused on building ecosystems and clusters, delving deep into key regions such as offshore areas, desert-gobi-wasteland areas, and grand passages, and planning major strategies to accelerate our advance into central and eastern regions, striving to reverse the market landscape.
Work conducted by the Board of Directors (I) Regulated operation
In 2024, the Company held a total of 12 board meetings. The procedures for convening and holding these meetings, the qualifications of attendees, the qualifications of conveners, the voting procedures, etc. all complied with relevant laws, regulations, and the provisions of the Articles of Association. And the resolutions of these meetings were legally valid. Details are set out below：
No.
Session
Meeting time
Proposal
1
4th meeting of the 3rd session
12 January 2024
Proposal on the Acquisition of 100% Equity in Guangdong Mingyang Longyuan Power Electronics Co., Ltd. and Related Party Transactions
2
5th meeting of the 3rd session
19 February 2024
Proposal on the Plan to Repurchase Corporate Shares through Centralized Competitive Trading in the Second Phase
3
6th meeting of the 3rd session
28 February 2024
Proposal on the Achievement of the Conditions for the Second Vesting Period of the Reserved Portion of the 2019 Restricted Stock Incentive Plan
Proposal on Repurchasing and Canceling Restricted Stocks That Have Been Granted to Some Incentive Targets of the 2019 Restricted Stock Incentive Plan But Have Not Yet Lifted the Restriction on Sales
4
7th meeting of the 3rd session
8 April 2024
Proposal on the Estimated Annual Quota for Related Party Transactions in 2024
Proposal on Formulating the 'Work Systems for Special Meetings of Independent Directors'
5
8th meeting of the 3rd session
25 April 2024
General Manager's Work Report for 2023
Board of Directors' Work Report for 2023
Independent Directors' Debriefing Report for 2023
Audit Committee's Performance Report for 2023
Annual Report Full Text and Summary for 2023
Proposal on the Profit Distribution Plan for 2023
Internal Control Evaluation Report for 2023
Financial Final Accounts Report for 2023
Special Report on the Deposit and Actual Use of Raised Funds for 2023
Proposal on Changes to Accounting Policies
Proposal on Provision for Asset Impairment
Proposal on Amending the 'Work Systems for Independent Directors'
Proposal on Amending the 'Decision-Making Systems for Related Party Transactions'
Proposal on Amending the 'Management Systems for External Guarantee'
Proposal on Amending the 'Management Systems for Raised Funds'
Proposal on Amending the 'Work Rules for Board Secretary'
Proposal on Amending the 'Management Systems for Investor Relations'
Proposal on Amending the 'Management Systems for Information Disclosure Affairs'
Proposal on Amending the 'Management Systems for Information Disclosure Deferral and Exemption'
Proposal on Amending the 'Management Systems for Information Insider Registration'
Proposal on the Remuneration for Non-Independent Directors for 2023
Proposal on the Remuneration for Independent
Directors for 2023
Proposal on the Remuneration for Senior Management for 2023
Environmental, Social and Governance Report of Mingyang Smart Energy Group Co., Ltd. for 2023
Proposal on Providing Guarantees and Related Party Transactions for Related Parties
Proposal on the Estimated Annual Quota for External Guarantee in 2024
Proposal on the Estimated Credit Line Application from Financial Institutions in 2024
Proposal on Conducting Foreign Exchange Hedging Business
Proposal on Formulating the 'Management Systems for Foreign Exchange Hedging Business'
First Quarter Report of 2024
Proposal on Requesting the Convening of the General Meeting of Shareholders for 2023
6
9th meeting of the 3rd session
21 June 2024
Proposal on the Transfer of Equities in Wholly-owned Subsidiaries
7
10th meeting of the 3rd session
25 June 2024
Proposal on the Transfer of Equities in Wholly-owned Subsidiaries
8
11th meeting of the 3rd session
5 August 2024
Proposal on Changing the Registered Capital of the Company
Proposal on Amending the 'Articles of Association of the Company'
Proposal on Altering Certain Investment Projects with Raised Funds
Proposal on Adjusting the Repurchase Price of the
First Grant and Reserved Parts of the Restricted Stock Incentive Plan in 2019
Proposal on Requesting the Convening of the First Extraordinary General Meeting of Shareholders for 2024
9
12th meeting of the 3rd session
29 August 2024
Semi-Annual Report and Summary of 2024
Special Report on the Deposit and Actual Use of Raised Funds for the First Half of 2024
Proposal on Terminating the Implementation of the 2022 Stock Option Incentive Plan
10
13th meeting of the 3rd session
27 September 2024
Proposal on Adjusting the Transfer Price of Equities in Wholly-owned Subsidiaries
11
14th meeting of the 3rd session
21 October 2024
Proposal on the Achievement of the Conditions for the Fourth Vesting Period of the Initially Granted Portion and the Third Vesting Period of the Reserved Portion of the 2019 Restricted Stock Incentive Plan
Proposal on Repurchasing and Canceling Restricted Stocks That Have Been Granted to Some Incentive Targets of the 2019 Restricted Stock Incentive Plan But Have Not Yet Lifted the Restriction on Sales
Proposal on the Appointment of the Company's Vice President and the Change of the Secretary of the Board of Directors
12
15th meeting of the 3rd session
29 October 2024
Third Quarter Report of 2024
Proposal on the Conclusion of Certain Non-public Offering Projects from 2020 and the Use of Surplus Raised Funds for Other Investment Projects with Raised Funds
Proposal on Continued Engagement of the
Accounting Firm
Proposal on Calling a General Meeting of Shareholders
The decision-making authority of the Company's Board of Directors was normally exercised. In the decision-making process of the Board of Directors, all directors have fully fulfilled their due responsibilities, safeguarded the overall interests of the company, and effectively ensured the standardized operations of the Company. The Board of Directors did not make any resolutions detrimental to the interests of the Company and its shareholders.
In 2024, the Board of Directors totally convened 2 extraordinary general meetings of shareholders and 1 annual general meeting of shareholders. In line with relevant requirements of laws and regulations such as the Company Law and also in accordance with the Articles of Association, the Board of Directors earnestly implemented the resolutions of the general meetings of shareholders, gave full play to its powers and functions, improved and enhanced the level of corporate governance, as well as effectively maintained the interests of the listed company and the legitimate rights and interests of all shareholders. Details are set out below:
No.
Session
Meeting time
Proposal
1
Annual General Meeting of Shareholders for 2023
22 May 2024
Board of Directors' Work Report for 2023
Board of Supervisors' Work Report for 2023
Independent Directors' Debriefing Report for 2023
Financial Final Accounts Report for 2023
Annual Report Full Text and Summary for 2023
Proposal on the Profit Distribution Plan for 2023
Proposal on the Remuneration for Non-Independent Directors for 2023
Proposal on the Remuneration for Independent Directors for 2023
Proposal on the Remuneration for Supervisors for 2023
Proposal on Revising the 'Work Systems for Independent Directors'
Proposal on Amending the 'Decision-Making Systems for Related Party Transactions'
Proposal on Amending the 'Management Systems for External Guarantee'
Proposal on Amending the 'Management Systems for Raised Funds'
Proposal on Providing Guarantees and Related Party Transactions for Related Parties
Proposal on the Estimated Annual Quota for Related Party Transactions in 2024
Proposal on the Estimated Annual Quota for External Guarantee in 2024
Proposal on the Estimated Credit Line Application from Financial Institutions in 2024
Proposal on Conducting Foreign Exchange Hedging Business
2
First Extraordinary General Meeting of Shareholders for 2024
27 August 2024
Proposal on Altering Certain Investment Projects with Raised Funds
3
Second Extraordinary General Meeting of Shareholders for 2024
18 December 2024
Proposal on Continued Engagement of the Accounting Firm
(II) Performance of duties by directors
All directors have fulfilled their duties diligently and conscientiously, taking the initiative to oversee the Company's daily operation and management, financial status, significant investment and financing matters, among others. They have meticulously reviewed and thoroughly discussed all proposals submitted to the Board of Directors for deliberation, offering valuable insights for the Company's business development. This has significantly enhanced the scientific decision-making of the Board of Directors, promoting the sustainable, stable and healthy progress of the Company's production and operation activities. During the Reporting Period, no directors raised objections to any proposals or other relevant matters as deliberated by the Board of Directors.
The independent directors have been able to independently perform their duties pursuant to laws and regulations such as the Company Law and the Securities Law, and according to the Articles of Association and the Work Systems for Independent Directors. They have rigorously deliberated various proposals and made independent, objective and fair judgments, being free from the influence of the Company and its shareholders. And they have expressed independent opinions on significant matters and effectively safeguarded the interests of the Company and its small and medium shareholders.
(III) Performance of duties by special committees under the Board of Directors
These special committees of the Company have conscientiously performed their duties in accordance with the relevant work systems, effectively fulfilling their designated roles. They have discussed and deliberated on matters such as the preparation of periodic reports, the effectiveness of internal controls, significant investment and financing matters, providing professional advice for scientific decision-making by the Board of Directors.
In 2024, the Audit Committee held a total of 5 meetings, deliberating and adopting 19 proposals including the Annual Report of 2023, the First Quarter Report of 2024, the Semi-Annual Report of 2024, the Third Quarter Report of 2024, and other periodic reports, as well as proposals on estimated routine related party transactions, profit distribution plans, changes in accounting policies, and provision for asset impairment; the Remuneration and Review Committee held a total of 5 meetings, deliberating and adopting 9 proposals including the Proposal on the Remuneration for Non-Independent Directors for 2023 and the Proposal on the Achievement of the Conditions for the Fourth Vesting Period of the Initially Granted Portion and the Third Vesting Period of the Reserved Portion of the 2019 Restricted Stock Incentive Plan; the Strategy Committee held 1 meeting, deliberating and adopting the proposal on the Proposal on the Plan to Repurchase Corporate Shares through Centralized Competitive Trading in the Second Phase; and the Nomination Committee held 1 meeting, deliberating and adopting the Proposal on the Appointment of the Company's Vice President and the Change of the Secretary of the Board of Directors.
II. Corporate Governance
In 2024, the Company has strictly adhered to laws and regulations such as the
Company Law and internal systems including the Articles of Association, the Rules of Procedure for the General Meeting of Shareholders, the Rules of Procedure for the Board of Directors, and the Rules of Procedure for the Board of Supervisors, continuously improving its corporate governance structure and standardizing its operations. The general meeting of shareholders, the Board of Directors and the Board of Supervisors have clear powers and responsibilities, each performing its duties to form a scientific and standardized decision-making mechanism and an effective supervision mechanism.
In 2025, the Company will continue to strictly comply with relevant laws and regulations such as the Company Law, the Securities Law, the Stock Listing Rules of Shanghai Stock Exchange, and the Corporate Governance Guidelines for Listed Companies in its daily operation and management, thereby enhancing its corporate governance level and overall standardized operations. And it will further upgrade its corporate governance structure and internal management systems, thereby enhancing the quality of the listed company.
III. Key work priorities for 2025
The new year of 2025 marks a critical moment for Mingyang to embark on its journey towards becoming a world-class enterprise. We firmly believe that Mingyang people will surpass themselves and achieve even more remarkable accomplishments. In the course of future development, we must maintain firm strategic resolve, scientifically plan the overall layout, flexibly respond to various changes, propel the deepening implementation of a new round of reforms, and, with the innovative spirit of "turning the impossible into the possible", continuously forge ahead and build a responsible, trustworthy, dignified and respected international first-class brand.
The main business initiatives of the Company for 2025 are as follows:
(I) Adhering to the philosophy of "three pillars" throughout business operations
We steadfastly adhere to the business philosophy of "customer-centric, market-oriented and quality-driven" to continuously create enduring value for our customers and deliver exceptional products and services. Meanwhile, we attach importance to enhancing system operational capabilities, and accelerating resource integration and benefit transformation, so as to propel the enterprise towards high-quality and sustainable development.
(II) Persisting in advancing the "Offshore Wind + Deep-Sea Farming" strategy in depth
By creating new energy application scenarios, we continuously stimulate and unleash market demands; and taking the "Grand Maritime Strategy" and "Globalization Strategy" as our dual wings, we seize the development opportunities of marine energy and marine economy, firmly maintain the first-mover advantage in offshore floating wind turbines, and actively promote the "Deep Blue Three-Dimensional Integrated Development" for the far-reaching seas. Simultaneously, we regard overseas markets as the new growth engine, further strengthening the construction of our capability centers, focusing on key target markets, and striving to build an international industrial ecosystem to comprehensively enhance global competitiveness.
(III) Upholding innovation-driven development to forge green "new quality productive forces"
By shaping "new quality productive forces" to reconstruct technological innovation capabilities and industrial chain layouts, we are committed to building international and domestic marine and land product lines with dual competitive advantages in cost and market. We will highlight key technological fields such as digital energy and integrated marine development, rely on technological breakthroughs to promote the realization of green and low-cost electricity, build new competitive advantages in carbon costs, and lead continuous development of the green new economy with green new momentum.
(IV) Sticking to expand application scenarios to create new models for energy transformation
We promote the deep integration of technology and scenarios, and render customized solutions for the fields such as "vast ocean", "desert-gobi-wasteland", "green-electricity-hydrogen-ammonia-methanol", "green computing power", and zero-carbon parks. We firmly grasp the global market opportunities in digitalization and low-carbon transformation, convert green resource endowments into new momentum for zero-carbon industrial economy, and continuously extend towards industrial clusterization, entire industrial chain, and entire life cycle value creation.
(V) Insisting on building a digital Ming Yang and shaping a "new ecosystem" for smart energy
By establishing a global digital and intelligent energy management system, we will drive the comprehensive transformation of product servitization, service digitization, digital valorization and value capitalization, ultimately constructing the "digital brain" of the group headquarters to provide solid support for efficient and intelligent enterprise operations.
(VI) Persevering in restructuring and transformation to pioneer a "new phase" of solid foundation and effective governance
Resolutely advancing the comprehensive restructuring of Mingyang, and implementing organizational transformation, system optimization and mechanism innovation, we are committed to comprehensively enhancing standardized and rule-of-law governance capabilities, thus providing a solid foundation for the stable and efficient development of the enterprise.
Proposal 2：Annual Work Report of the Board of Supervisors for 2024
To all shareholders and shareholders' proxies,
In 2024, all supervisors of the Company strictly adhered to the laws and regulations such as the Company Law and the Securities Law, as well as the provisions and requirements of the Articles of Association and the Rules of Procedure of the Board of Supervisors. They have diligently performed their duties, safeguarded the interests of the Company, conscientiously fulfilled the responsibilities entrusted by the general meeting of shareholders, operated in a standardized manner, made scientific decisions, as well as actively promoted the development of various businesses of the Company. In accordance with the Company's established development strategy, they have made efforts to advance the key annual work plans, ensuring that all tasks were carried out in an orderly manner, and that the Company maintained a steady and sustainable development trend. And the work by the Board of Supervisors in 2024 is now reported as follows:
I. Work Conducted by the Board of Supervisors
During the Reporting Period, with reference to the standards for listed companies and in accordance with the relevant regulations of the China Securities Regulatory Commission and Shanghai Stock Exchange, the Board of Supervisors held a total of 7 meetings and issued corresponding opinions accordingly. The Board of Supervisors has paid close attention to the Company's operational decision-making, investment plans, and landing and implementation of production and operation plans. Through communication with various departments of the Company, the Board of Supervisors has promptly acquired information on the Company's operation and management, closely monitored the impact of economic conditions, market trends, and industry competition on the Company's business development, and made suggestions from the perspective of supervision and corporate governance. Meanwhile, it has joined hands with the Board of Directors and the shareholders to promote standardized operations of the Company, enhance its quality and efficiency, and help it achieve healthy and sustainable development.
II. Standardized Operations of the Company
(I) Legal operation
During the Reporting Period, the general meeting of shareholders and the Board of Directors have exercised their powers and functions in accordance with the Company Law and the Articles of Association, with the procedures for convening, holding and voting at meetings being legal and effective, and the Company's information disclosure being true, accurate and complete.
(II) Financial status check
During the Reporting Period, the Board of Supervisors has conducted thorough inspections and supervisions of the Company's financial status, financial management, operational effectiveness, and periodic reports, believing that the Company's financial accounting statements have been prepared in line with the relevant provisions of the Accounting Standards for Business Enterprises, and that the Company's financial accounting statements have truly, accurately and completely reflected the Company's financial status and operating results.
(III) Related party transaction check
In 2024, the Board of Supervisors has conducted a review of the Company's related party transactions, and believed that all related party transactions that occurred during the Reporting Period met the actual needs of the Company's production and operation, and that the decision-making procedures for such transactions were legal and compliant.
(IV) External guarantees
In 2024, the Board of Supervisors has conducted a review of the Company's external guarantees, and believed that all external guarantees that occurred during the Reporting Period met the needs of the Company's production and operation, and that the decision-making procedures for such guarantees were legal and compliant.
(V) Opinions on the audit report issued by the accounting firm
Grant Thornton Zhitong Certified Public Accountants LLP has audited the financial statements as contained in the Company's 2024 annual report and issued a standard unqualified audit report. The Board of Supervisors believed that the standard unqualified audit report as issued by the accounting firm objectively and fairly reflected the Company's operating conditions and various operating indicators in 2024. In 2025, the Board of Supervisors will continue to adhere to the Articles of Association and relevant laws and regulations, further standardize its work, focus on improving the Company's management and control capabilities, effectively perform the functions granted by the Company Law and other laws and regulations, continuously enhance its own capabilities and levels, as well as faithfully fulfill its duties, and further promote the standardized operations of the Company.
Proposal 3：Annual Work Report of Independent Directors for 2024
To all shareholders and shareholders' proxies,
The Annual Work Report of Independent Directors are as follows:
Annual Work Report of Independent Directors for 2024 (Zhu Tao)
In accordance with the Company Law, the Securities Law, the Guidelines for Independent Directors of Listed Companies, the Articles of Association, and the Company's Independent Director Working Rules, as an Independent Director of Ming Yang Smart Energy Group Limited (hereinafter referred to as the "Company"), I have performed my duties in good faith and with due diligence in 2024. I have exercised my rights as Independent Director with prudence, seriousness, and appropriate judgment, by actively attending meetings of the Board of Directors and Shareholders' Meetings, participating in major decision-making processes, and closely monitoring the implementation of the Company's development strategies and the steady operation of its key performance indicators. I have expressed independent and objective opinions on relevant matters, effectively safeguarding the overall interests of the Company and the legitimate rights and interests of minority shareholders, and have fulfilled my duties with integrity and diligence.
The report on the performance of my duties during the year 2024 is as follows: I. Basic Information of the Independent Director
Zhu Tao has been a faculty member in the Department of Accounting at the
School of Management, Jinan University since December 2012. Since June 2021, he has been serving as Director of the Finance and State-owned Assets Management Department at Jinan University. Since August 2022, he has been serving as Independent Director of BTR New Material Group Co., Ltd. Since September 2023, he has been serving as Independent Director of the Company.
As an Independent Director of the Company, I have strictly complied with applicable laws and regulations, the Articles of Association, and other relevant provisions, and therefore do not hold any position in the Company other than Independent Director, nor do I serve any role at major shareholders of the Company. I have no relationships with the Company, its major shareholders, or any other interested entities or individuals that could impair my ability to make independent and objective judgments. There are no transactions, family relationships, or other circumstances that may affect my independence as an Independent Director.
II. Overview of Annual Duty Performance by the Independent Director (I) Attendance at Board and Shareholders' Meetings
In 2024, the Company convened a total of 12 Board meetings and 3 Shareholders'
Meetings to deliberate on resolutions in respect of such matters as periodic reports, equity incentives, external guarantees, profit distribution, and connected transactions.
I attended all Board and Shareholders' meetings on time and diligently performed my duties as an Independent Director. Prior to each meeting, I carefully reviewed the resolutions, conducted a thorough review of the relevant materials, and proactively queried and acquired necessary information and documentation. During the meetings, I listened attentively to reports from the Company's management and engaged in full communication. I actively participated in the discussions of each resolution and, drawing on my professional expertise, exercised my voting rights independently, objectively, and prudently, while expressing independent opinions. Details are listed as follows:
Name of Independ ent Director
Board Meeting Attendance
Shareholders' Meeting Attendance
Number of Board Meetings to Attend in the Current Year
Number Meetings Personally Attended of
Number of Meetings Attended by Proxy
Number of Absences
Was There a Continuous Absence from Two Meetings
Number of Shareholders' Meetings Attended
ZHU Tao
12
12
0
0
No.
3
In 2024, I voted in favor of all proposals reviewed at the Board meetings, except for those requiring recusal, and raised no objections. The Board meetings and Shareholders' Meetings convened by the Company in 2024 complied with statutory procedures. All major operational decisions and other significant matters were handled in accordance with the relevant procedures and were lawful and valid.
(II) Attendance at Board Committees and Dedicated Independent Director Meetings
Committee Type
Total Meetings Held
Meetings to Attend
Meetings Attended
Meetings Attended by
Proxy
Audit Committee
5
5
5
0
Nomination Committee
1
1
1
0
Dedicated Independent Director Meeting
5
5
5
0
In 2024, I voted in favor of all proposals reviewed at the Board Special Committee meetings and independent director special meetings, and raised no objections.
(III) Communication with the Internal Audit Department and External Auditors
During the Reporting Period, I actively communicated with the Company's
Internal Audit Department and the annual external auditor, diligently fulfilling my relevant duties. I carefully received the work reports of the Internal Audit Department, kept abreast of the progress of key internal audit matters of the Company, and effectively contributed to the enhancement of the Company's risk management capabilities. I also engaged in in-depth discussions and exchange with the external auditors on the annual audit plan, key areas of focus and others, and stayed informed about the preparation of financial reports and the progress of the annual audit, thereby helping to ensure that audit results were objective and impartial.
(IV) Communication with Minority Shareholders
During the Reporting Period, I actively participated in the Company's 2023
Annual Results and Cash Dividend Presentation, the 2024 Interim Results Presentation, and the 2024 Third Quarter Results Presentation. I widely listened to investors' opinions and suggestions. In strict compliance with relevant laws and regulations, I fulfilled my duties with due diligence. For each resolution requiring consideration by the Board, I thoroughly reviewed the relevant materials and gathered necessary information to make independent and impartial judgments by applying my professional expertise.
(V) On-site Performance of Duties and Cooperation from the Company
During the reporting period, I gained a comprehensive understanding of the
Company's internal controls and financial status by attending Board of Directors meetings, Board committee meetings, general shareholders' meetings, and independent director special meetings, supplemented by on-site inspections and management operational reports. Additionally, I maintained close communication with the Company's management and Board personnel through phone calls, emails, and virtual meetings to continuously monitor business operations, financial activities, and material developments. I provided timely professional recommendations to enhance the Board's decision-making rigor and corporate governance compliance.
In exercising my duties as an independent director, I received full cooperation from the Company's management, who provided complete meeting materials in advance of Board meetings, shareholders' meetings, and related sessions, offered thorough explanations on issues I raised, and implemented my improvement recommendations in a timely manner. Additionally, the Company facilitated my duties by enabling remote participation through teleconference and other digital channels, demonstrating effective support for my role.
III. Performance of Independent Director on Key Matters During the Year (I) Related Party Transactions to Be Disclosed
For all related party transactions of the Company that occurred during 2024, we conducted prior verification before each board meeting, held dedicated independent director meetings, and issued prior approval opinions independently. We believe that the Company's related party transactions were conducted under the principles of fairness, impartiality, and transparency, and were conducive to the normal conduct of business operations of the Company. These related party transactions did not harm the interests of the Company or all shareholders as a whole, particularly minority shareholders. All related party transactions between the Company and its related parties complied with applicable laws and regulations as well as the provisions of the
Disclaimer
Ming Yang Smart Energy Group Ltd. published this content on April 25, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 25, 2025 at 15:54 UTC.