Certain A Shares of Hangzhou Raycloud Technology Co., Ltd. are subject to a Lock-Up Agreement Ending on 24-APR-2023. These A Shares will be under lockup for 1095 days starting from 24-APR-2020 to 24-APR-2023.

Details:
The issuer's controlling shareholder Hangzhou Guangyun Investment Co. Ltd. and actual controller Tan Guanghua promised 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. 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. 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. Hangzhou Huaying Investment Partnership (Limited Partnership), a shareholder holding more than 5% of the issuer's shares, promises within 36 months since the date of listing of the present shares in the Shanghai Stock Exchange, 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.

The shareholders of Ningbo Meishan Bonded Port Qiyu Investment Management Center (Limited Partnership) who hold more than 5% of the issuer's shares promise 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. Shanghai Yunfeng Xincheng Investment Center (Limited Partnership), Hangzhou Ali Ventures Co.,Ltd., Hangzhou Huacai Investment Partnership (Limited Partnership), Hangzhou Nanhai Growth Investment Partnership (Limited Partnership), Xing Longjie Investment Consulting (Beijing) Co.,Ltd., Shenzhen Futian Saifu Dynamic Equity Investment Fund Partnership (Limited Partnership), Zhejiang Hengfeng International Holdings Co., Ltd., Ningbo Duoniufengfeng Investment Partnership (Limited Partnership) Hangzhou Lanjiang Feilong Investment Management partnership (limited partnership), Lin Tianyi promised within 12 months since the date of listing of the present shares in the Shanghai Stock Exchange, 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. The issuer's shareholders holding less than 5% of the shares within 12 months since the date of listing of the present shares in the Shanghai Stock Exchange, 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. Issuer directors and senior management promised within 12 months since the date of listing of the present shares in the Shanghai Stock Exchange, 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. The issuer's supervisor's and Issuer core technical staff promised within 12 months since the date of listing of the present shares in the Shanghai Stock Exchange, 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.