Certain A Shares of Hangzhou Zhengqiang Corporation Limited are subject to a Lock-Up Agreement Ending on 22-NOV-2022. These A Shares will be under lockup for 370 days starting from 17-NOV-2021 to 22-NOV-2022.

Details:
The company's actual controllers Xu Zhengqing, Fu Yun and Fu Qiang promised 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. After the expiry of the lock-up period (including the extended lock-up period), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.

The company's controlling shareholder Hangzhou Zhengqiang Holdings Co., Ltd. promises 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.

The relatives of the actual controllers Xu Zhenghuan, Xu Zhenbiao and Fu Jianquan who hold the company's shares; shareholder Hangzhou Dahui Investment Management Partnership (Limited Partnership) promised 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.

Hangzhou Somersault Cloud Investment Management Partnership (Limited Partnership) 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.

Other directors, supervisors and senior executives Shen Baisong, Pan Shengxiao, Zhu Enqin, Yu Haiping, Chen Jianwei, and Ye Chunlai promised 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. After the expiry of the lock-up period (including the extended lock-up period), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.