Certain A Shares of Guizhou Zhenhua New Material Co., Ltd. are subject to a Lock-Up Agreement Ending on 14-SEP-2022. These A Shares will be under lockup for 371 days starting from 8-SEP-2021 to 14-SEP-2022.

Details:
China Zhenhua Electronics Group Co., Ltd., the company's controlling shareholder and China Electronics Corporation, the actual controller; CEC Financial Investment Holdings Co., Ltd. and Shenzhen Kaifa Technology Co., Ltd. who controlled by the actual controller commit 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. If there is any case of dividends, bonus shares, capitalization of capital reserve and other similar cases, issue price will be adjusted according to ex-dividend and ex-interests.

Qian Xin, the company's directors, senior managers, and core technical personnel, Company director and senior executives Dong Xia and Wang Jing, Company director Wu Jie, Company's senior management and core technical staff Mei Ming promised 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. If there is any case of dividends, bonus shares, capitalization of capital reserve and other similar cases, issue price will be adjusted according to ex-dividend and ex-interests. During work as above position of the company, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.

The company's core technical staff Li Lu and other company shareholders promised 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.