Certain A Shares of Guangdong AVCiT Technology Holding Co., Ltd. are subject to a Lock-Up Agreement Ending on 4-AUG-2023. These A Shares will be under lockup for 366 days starting from 3-AUG-2022 to 4-AUG-2023.

Details:
The company?s holding shareholder, actual controller Fang Hua, and parties acting in concert, shareholders Ye Weifei, Zeng Qingwen, Director Zhang Chengwang, Chief Financial Officer and secretary of the board Jiang Ke promised within 36 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period will automatically be extended for 6 months. After the expiration of the lockup period, during the term of office in the company as director, management personnel, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.

Meishi Phase I Enterprise Management Consulting (Guangzhou) Partnership Enterprise (Limited Partnership), Meishi Phase II Enterprise Management Consulting (Guangzhou) Partnership Enterprise (Limited Partnership) promised within 36 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period will automatically be extended for 6 months.

Supervisors Gao Zhi, Chen Longguang, Liang Zhanyi promised within 36 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. After the expiration of the lockup period, during the term of office in the company as supervisor, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.

Other shareholders Shenzhen Zhouming Times Bole Investment Management Partnership Enterprise (Limited Partnership), Wang Zhini promised within 12 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares.