Certain A Shares of Huarong Chemical Co., Ltd. are subject to a Lock-Up Agreement Ending on 22-MAR-2024. These A Shares will be under lockup for 737 days starting from 16-MAR-2022 to 22-MAR-2024.

Details:
The company?s holding shareholder New Hope Chemical Investment Co.,Ltd., company?s actual controller Mr. Liu Yonghao promised within 36 months after the listing date, will not transfer nor entrust to others for management shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period will automatically be extended for 6 months.

The company?s shareholder Ningbo Xinrong Chemical Technology Partnership Enterprise (Limited Partnership) promised within 12 months after the listing date, will not transfer nor entrust to others for management shares in the company held prior to this issuance, nor allow the company to repurchase the said shares.

Directors Shao Jun, Li Jianxiong, Zhang Minggui, director, general manager Tang Chong, board secretary, financial director Zhang Wei, Executive Deputy General Manager Liu Haiyan, deputy general manager Wang Meng, Luo Xiaorong, chief engineer Yan Xuelun, human administration director Liu Xiaofang promised within 12 months after the listing date, will not transfer nor entrust to others for management shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. During the term of office in the company, the number of shares in the company transferred each year will not exceed 25% of the total shares held in the company. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period will automatically be extended for 6 months.

Supervisors Li Hongshun, Wang Runnian, Tao Ze promised within 12 months after the listing date, will not transfer nor entrust to others for management shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. During the term of office in the company, the number of shares in the company transferred each year will not exceed 25% of the total shares held in the company.