Certain A Shares of Hangzhou Wensli Silk Culture Co., Ltd. are subject to a Lock-Up Agreement Ending on 22-SEP-2023. These A Shares will be under lockup for 737 days starting from 15-SEP-2021 to 22-SEP-2023.

Details:
The issuer?s controlling shareholder Zhejiang Wansli Group Company and its actual controllers Tu Hongyan, Tu Hongxia, Li Jianhua, Wang Yunfei and Shen Baijun promise 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. 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.

Company shareholders Hangzhou Siao Investment Co., Ltd., Zhoushan Siyu Investment Partnership (Limited Partnership), Zhoushan Sixian Investment Partnership (Limited Partnership) promise 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.

Company shareholders Zhejiang Zheshang Industrial Investment Fund Partnership (Limited Partnership), Wanxiang Sannong Group Co., Ltd., Hangzhou Yingsi Investment Partnership (Limited Partnership), Chen Shuhua, Shenzhen Zhuoyuan Jinjia Investment Center (Limited Partnership), Zhejiang Hua Media Investment Co., Ltd. and Hangzhou Le Shili Investment Management Partnership (Limited Partnership) promise that 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.

Teng Junkai, a senior manager of the company, promised that 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. After the expiry of the lock-up period (including the extended lock-up period), the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect.

Shareholders Zhejiang Wanshili Group Company, Hangzhou Siao Investment Co., Ltd., Zhoushan Siyu Investment Partnership (Limited Partnership), and Zhoushan Sixian Investment Partnership (Limited Partnership) who hold more than 5% of the company?s shareholding committed as follows, 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.

Zhejiang Zheshang Industrial Investment Fund Partnership (Limited Partnership), a shareholder holding more than 5% of the company?s shares, and Hangzhou Le Shili Investment Management Partnership (Limited Partnership), its concerted person, promised the following regarding its intention to hold shares and its intention to reduce 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.