Certain A Shares of Qingdao Gaoce Technology Co., Ltd are subject to a Lock-Up Agreement Ending on 7-AUG-2021. These A Shares will be under lockup for 375 days starting from 28-JUL-2020 to 7-AUG-2021.

Details:
The company's controlling shareholders, the actual controllers and Director and Senior Management Zhang Xu committed 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.

Shareholders Shang Hua and Li Xueyu who are directors and senior managers, and Hu Zhenyu, a shareholder who is a director promised 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. 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.

Shareholders Wei Yujie, Guo Lei and Zhao Shan who acted as supervisors, the company's core technical personnel and who held shares Zhang Xu, Duan Jingbo, and Zhang Lu and other shareholders promised within 12 months since the date of listing of the present shares and after 6 months from rescindment, there will not be no transfers nor entrustment of shares to any third party nor repurchase by the company.