Certain A Shares of Guangzhou Risong Intelligent Technology Holding Co., Ltd. are subject to a Lock-Up Agreement Ending on 17-FEB-2024. These A Shares will be under lockup for 1472 days starting from 6-FEB-2020 to 17-FEB-2024.

Details:
The controlling shareholder Sun Zhiqiang has promised that within 36 months since the date of listing of the present shares, there will not be any transfer 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. If any of the parties were to resign within 6 months from the present IPO, neither direct nor indirect holdings might be transferred or sold for 18 months since the date of rescinding. If the parties resign within 7 to 12 months after the IPO, neither direct nor indirect holdings might be transferred or sold for 12 months since the date of rescinding.

The sponsor's controlling shareholder and the actual controller Sun Zhiqiang's son Sun Shengjie have promised that within 36 months since the date of listing of the present shares, there will not be any transfer 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.

The shareholders other than mentioned above, the company's directors or senior management staff Ke Xiping, Yan Xuetao, Liu Erbin and Zheng Delun, issuer Supervisor Cai Xiongjiang and core technical staff Liu Erbin, Tang Guobao and He Yanbing have committed that within 12 months since the date of listing of the present shares, there will not be any 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.