Certain A Shares of Hengbo Holdings Co.,Ltd. are subject to a Lock-Up Agreement Ending on 16-JAN-2024. These A Shares will be under lockup for 222 days starting from 8-JUN-2023 to 16-JAN-2024.

Details:
The Company?s actual controllers Zhou Shuzhong, Hu Wanyin, and Zhou Hengba committed to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 36 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months. After the lock-up has expired, while holding office, they committed to not transfer more than 25% of shares held each year.

The Company?s shareholders Taizhou Qi Heng Investment Consulting Partnership Enterprise (Limited Partnership) and Liang Jingjing committed to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 36 months from the listing date.

The Company?s shareholder Ningbo Mingxu Enterprise Management Partnership Enterprise (Limited Partnership) committed to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 36 months from December 30, 2020.

The Company?s shareholder Taizhou Qihong Enterprise Management Consulting Partnership Enterprise (Limited Partnership) committed: to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 12 months from the listing date.