Certain A Shares of Fujian Yuanxiang New Materials Co.,Ltd are subject to a Lock-Up Agreement Ending on 19-AUG-2023. These A Shares will be under lockup for 375 days starting from 9-AUG-2022 to 19-AUG-2023.

Details:
The issuer?s controlling shareholder and actual controller Wang Chenghui?s commitment to the lock-up of shares, the intention to hold shares, and the intention to reduce holdings is, that within 36 months since the date of listing of the present shares, there will not be no transfers nor entrustment of shares to any third party nor repurchase by the Company. If, within 6 months after the issuer's 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), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.

Director Huang Chunrong, who holds the shares of the issuer, promised on the lock-up of shares, the intention to hold shares, and the intention to reduce holdings is, that within 12 months since the date of listing of the present shares, there will not be no transfers nor entrustment of shares to any third party nor repurchase by the Company. If, within 6 months after the issuer's 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), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.