Certain A Shares of Crown Advanced Material Co., Ltd. are subject to a Lock-Up Agreement Ending on 24-DEC-2023. These A Shares will be under lockup for 1103 days starting from 16-DEC-2020 to 24-DEC-2023.

Details:
The Company?s holding shareholder Yan Hongjia, actual controllers Yan Hongjia and Yan Yong, and shareholders Shanghai Boqiang Investment Co., Ltd. and Shenzhen Bohuiyin Investment Partnership Enterprise (Limited Partnership) committed to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 36 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months.

The Company?s directors, supervisors, and senior management committed to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 12 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months.

The Company?s shareholders Zhongtai Venture Capital (Shenzhen) Co., Ltd., Xinjiang Jiufeng Equity Investment Limited Partnership Enterprise, Gansu Jincheng New Third Board Equity Investment Fund Partnership Enterprise (Limited Partnership), Qingdao Jingyuan Venture Capital Co., Ltd., CIC Jianhua (Hunan) Venture Capital Partnership Enterprise (Limited Partnership), Liaoning Lianmeng Zhongzi Venture Capital Enterprise (Limited Partnership), Qushui Huixin Maotong High-Tech Partnership Enterprise (Limited Partnership), Wen Jinghua, Zhou Yue, Lin Wenwei, Wu Haotian, Xu Sha, and Diao Chunlan and core technical employees committed to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 12 months from the listing date.