Certain A Shares of Ningbo Zhenyu Technology Co., Ltd. are subject to a Lock-Up Agreement Ending on 18-MAR-2024. These A Shares will be under lockup for 1103 days starting from 11-MAR-2021 to 18-MAR-2024.

Details:
The Company controlling shareholder and actual controller, Jiang Zhenlin and Hong Ruidi 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. 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. 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.

Ningbo Juxin Investment Partnership (Limited Partnership) committed 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.

Directors and senior managers of the company Zhang Ganglin and Liang He; senior managers of the company Dai Lingguang, Liu Saiping, and Zou Chunhua; the Company?s supervisors Zhou Maowei, Deng Xiaogen, and Luo Yuntian, commit to within 12 months since the date of listing of the present shares, there will be no transfers nor entrustment of shares to any third party nor repurchase by the Company.