Mingyang Electric announced that recently, 35 million shares of the company held by the controlling shareholder Zhongshan Mingyang were released from pledge, accounting for 26.80% of its shares and 11.13% of the company's total share capital. As of the disclosure date of the announcement, Zhongshan Mingyang and its co-actors have pledged a total of 54.5 million shares, accounting for 39.66% of its shares and 17.33% of the company's total share capital. This dissolution will not have a significant impact on the company. The controlling shareholder has good credit and the pledge risk is manageable.

Mingyang Electric announced that recently, 35 million shares of the company held by the controlling shareholder Zhongshan Mingyang were released from pledge, accounting for 26.80% of its shares and 11.13% of the company's total share capital. As of the disclosure date of the announcement, Zhongshan Mingyang and its co-actors have pledged a total of 54.5 million shares, accounting for 39.66% of its shares and 17.33% of the company's total share capital. This dissolution will not have a significant impact on the company. The controlling shareholder has good credit and the pledge risk is manageable.