Certain A Shares of Qingdao Victall Railway Co., Ltd. are subject to a Lock-Up Agreement Ending on 22-MAY-2023. These A Shares will be under lockup for 1105 days starting from 12-MAY-2020 to 22-MAY-2023.

Details:
Issuer's controlling shareholder Su Qingyan, actual controller Sun Hanben, Su Qingyan, Sun Jilong and their controlled Qingdao Weiao Equity Investment Co., Ltd promised 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. Within the two years 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. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect.

The the company shareholders Tangshan Ruize Equity Investment Management Center (Limited Partnership), Ningbo Meishan Bonded Port Area Jiuying Phase II New Energy Investment Partnership (Limited Partnership), Wulanchabu Taizheng Shenghong Equity Investment Fund (Limited Partnership), Ningbo Yongxian Equity Investment Partnership (Limited Partnership), Beijing Tongyuan Xinrong Investment Management Center (Limited Partnership), Taizhen Extraordinary Investment Co., Ltd., Qingdao Guoxin Investment Venture Capital Fund Partnership (Limited Partnership), Suzhou Guanxin Venture Capital Center (Limited Partnership), Shenyang Merchants Zhiyuan Venture Development Investment Center (Limited Partnership), Ningbo Yongsheng Equity Investment Partnership (Limited Partnership), Shanghai Fuding Phase I Equity Investment Fund Partnership (Limited Partnership), Shanghai Yiqiang Investment Center (Limited Partnership), Shanghai Zhenghai Guoju Venture Capital Center (Limited Partnership), Shanghai Zizhu Xiaomiao Venture Partnership (Limited Partnership), Qian Zhiming and Jin Yonghua promised within 12 months since the date of listing of the present shares in the Shenzhen Stock Exchange, there will be no transfers nor entrustment of shares to any third party nor repurchase by the Company. Issuer Director, Supervisor, Senior Management Sun Hanben, Lu Zhikun, Sun Yongzhi, Wang Jucang, Liu Haofeng, Sun Jilong, Xu Miao, Zhou Lijuan, Ma Qingshuang, Wang Shicheng, Zhao Fasen, Zhang Qingye promised within 12 months since the date of listing of the present shares in the Shenzhen Stock Exchange, there will 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. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect.