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The major shareholder - Chairman and Chief Executive Officer, Mr. Chuanwei Zhang, intentionally manipulate the share price within the year of 2015:

1. Pumped up the share price from $2.2 to $3.8 in between March to May, 2015. Ming Yang bought Mr.Zhang’s wife company, China Smart Electric Group Ltd., with a very high price tag - $149 million on May 18, 2015. Basically Ming Yang bought a supplier with half of Ming Yang’s market capital.

2. From May 2015 to present, especially since August 18, 2015, Mr. Zhang intentionally drove the share price down to as low as $1.86 per share, almost the lowest price within 2 years despite the company’s operation and profit are in the obvious up trend.

3. On Nov. 2, 2015, Mr. Chuanwei Zhang proposed going private with a buy out price of $2.51 per share.

4. In Oct, 2010, Ming Yang’s IPO price is about $14 per share. Mr. Chuanwei Zhang’s privatization offer is only about 17% of the IPO price despite the Company operation is within the best stage after IPO.