Certain A Shares of Changzhou Zhongying Science & Technology Co., Ltd. are subject to a Lock-Up Agreement Ending on 27-JAN-2024. These A Shares will be under lockup for 1107 days starting from 15-JAN-2021 to 27-JAN-2024.

Details:
The company?s controlling shareholders and actual controllers, Yu Weizhong, Dai Lifang and Yu Zhengcheng, shareholder holding 5% or more of the total issued share capital of the company, Changzhou Zhongying Pipeline Co., Ltd. and Changzhou Zhongying Huicai Equity Investment Management Center (Limited Partnership), the company?s natural shareholders Ma Longxiu, Yu Jiana, Yu Biao, Yu Ye, Dai Liying, Dai Lijuan, Dai Lihua, Liu Weifan, Zhang Xiaoyu, Yu Lina, Liu Ya?nan committed not to transfer or entrust to a third party the company?s shares it holds directly or indirectly before the public offering, or allow the company to repurchase these shares within 36 months from the company?s share listing date. If, within 6 months after the listing, the closing price of the shares is lower than issuance price for 20 consecutive trading days or if trading price is lower than issuance price after 6 month from listing, lock-up period will be automatically extended for another 6 months. After the expiry of the lock-up period (including the extended lock-up period), the parties promise that yearly transfer of shares made by them will not exceed 25% of the holding, both direct and indirect, held by the present parties.

The company?s natural shareholders Zhu Xin?ai, Hu Zhibiao, Qin Kai, Ye Kaiwen, Ren Huiying; Gu Shuchun, managing personnel in the Company and indirect shareholder of the Company committed not to transfer or entrust to a third party the company?s shares it holds directly or indirectly before the public offering, or allow the company to repurchase these shares within 12 months from the company?s share listing date.

Shareholders Tianjin Yongquan Enterprise Management Partnership (Limited Partnership), Ningbo Meishan Bonded Port Area Yi'an Investment Partnership (Limited Partnership) and Ningbo Meishan Bonded Port Area Xihua Equity Investment Partnership (Limited Partnership) committed, that if not more than 6 months go by between the date (i.e. March 13, 2018) of the latest capital increase into the Company by the present units (Tianjin Yongquan Enterprise Management Partnership (Limited Partnership) or Ningbo Meishan Bonded Port Area Yi'an Investment Partnership (Limited Partnership) or Ningbo Meishan Bonded Port Area Xihua Equity Investment Partnership (Limited Partnership)) and the Company?s application for initial public offering of shares to the China Securities Regulatory Commission, then, within 36 months from the date when the units increased capital and completed the industrial and commercial change, the units will not transfer or entrust others to manage the shares issued by the company directly or indirectly held before the public issuance; within 12 months from the date of listing of the Company's shares, the units will not transfer or entrust others to manage the shares issued before the company's publicly issued shares directly or indirectly held by the unit, nor the Company will repurchase the shares; if the units adopt a centralized bidding method to reduce the Company's stock, the total number of shares reduced by the Company shall not exceed 1% of the total number of shares of the Company in any consecutive 90 natural days; In the case of a large-scale transaction, the total number of shares reduced shall not exceed 2% of the total number of shares of the company for any consecutive 90 natural days. If more than 6 months go by between the date (i.e. March 13, 2018) of the latest capital increase into the Company by the present units (Tianjin Yongquan Enterprise Management Partnership (Limited Partnership) or Ningbo Meishan Bonded Port Area Yi'an Investment Partnership (Limited Partnership) or Ningbo Meishan Bonded Port Area Xihua Equity Investment Partnership (Limited Partnership)) and the Company?s application for initial public offering of shares to the China Securities Regulatory Commission, then, within 12 months from the date of listing of the Company's shares, the units will not transfer or entrust others to manage the shares issued before the Company's publicly issued shares directly or indirectly held by the units, nor will the Company repurchase the shares; if the unit adopts the centralized bidding method to reduce the company's stock, the total number of shares reduced shall not exceed 1% of the total number of shares of the company in any consecutive 90 natural days; In the case of a large-scale transaction, the total number of shares reduced shall not exceed 2% of the total number of shares of the company for any consecutive 90 natural days.