Certain A Shares of Guanglian Aviation Industry Co., Ltd. are subject to a Lock-Up Agreement Ending on 29-OCT-2021. These A Shares will be under lockup for 378 days starting from 16-OCT-2020 to 29-OCT-2021.

Details:
The company's controlling shareholder Wang Zengduo, Wang Situo and Bi Hengtian commit 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 months 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. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect.

Directors Yu Gang, Zhu Hongmin, Hu Quan, Wei Xiaoyu, Zhang Jing, Yang Huaizhong and Wu Tiehua, Wang Xijiang, Geng Shaokun and Yang Shouji, Lu Yan, Huakong Science and Technology (Ningbo Meishan Bonded Port Area) Equity Investment Fund Partnership (Limited Partnership), Dongzhen Rongtong Investment Management Co., Ltd., Beijing Sunachuang Tiancheng Investment Management Center (Limited Partnership), Mudanjiang Standard Technology Investment Fund (Limited Partnership), Changchun Huasheng Huirong Investment Management Co., Ltd., Zhuzhou Qiyuan Power Valley Private Equity Fund Partnership (Limited Partnership) and Huakong Hubei Science and Industry Investment Fund (Limited Partnership), Li Niankui, Sun Wei, Wang Jue, Zhang Difei, Wu Shuang, Huang Suiqi, Liu Lihong, Fu Juncheng, Zhu Qi, Zhang Yanzhi, Zhang Xiandao, Wang Lei, Song Baoping, Rong Honggang, Fu Shuhua, Jiang Binbo, Pan Xing, Liu Liya, Gu Xiaochun, Ren Songxuan, Zhao Yun, Wang Xiumei, Wang Yuhong, He Yihuan, Jiang Xiaobin, Chi Mengqi, Liu Yansong, Zhang Chengwu, Yu Chao, Wang Huayun, Xu Shanyong, Lu Linqing, Sun Shuyuan, Yang Shaojun, Xu Zhaojun, Jin Xiaochuan, Chang Zhengwei, Wu Xiangang, Xing Xiaoxing, Ju Bangle commit 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 months 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. In the event of a resignation before the expiry of the term of office, the above-mentioned undertaking will continue to be maintained for six months. There will be no transfer of shares, directly or indirectly held, within 18 months from the date of declaration in case of resignation happening within 6 months from the date of listing of the company's shares; the first 7 months from the date of listing of the company's shares To the 12th month between the declaration of separation, since the declaration of departure within 12 months from the date of the transfer of the person directly or indirectly, the issuer shares.