Certain A Shares of Shaanxi Sirui Advanced Materials Co., Ltd. are subject to a Lock-Up Agreement Ending on 15-MAR-2023. These A Shares will be under lockup for 371 days starting from 9-MAR-2022 to 15-MAR-2023.

Details:
The controlling shareholder, actual controller, chairman and core technical personnel Wang Wenbin promised 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. As chairman, after the expiry of the lock-up period (including the extended lock-up period), the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect. As core technical personnel, within 4 years from the date of expiration of the issuer's pre-IPO share sales restriction period, the annual transfer of the issuer's shares directly or indirectly held before IPO shall not exceed 25% of the total number of shares by the time of IPO.

The company shareholder, director Sheng Qingyi promised that, 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. 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. As director, after the expiry of the lock-up period (including the extended lock-up period), the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect.

Li Gang, Xu Runsheng, Wu Xuhong, Liang Jianbin, Ma Guoqing, Zhang Hang, directors and senior executives who hold shares promised that, 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. 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. After the expiry of the lock-up period (including the extended lock-up period), the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect.

The shareholding supervisors Wang Wangang, Fei Gaiyun, and Tuo Wenmei promised that, 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. After the expiry of the lock-up period (including the extended lock-up period), the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect.

Zhang Hang, Yang Ping, Wang Xiaojun, Yu Gaofeng, Sun Junpeng, Liu Kai, Li Peng, the core technical personnel holding shares promised that, within 12 months from the date of listing of the issuer and within 6 months after resignation, there will not be transfers nor entrustment of shares to any third party nor repurchase the shares issued he/she held before the issuer's IPO directly or indirectly. Within 4 years from the date of expiration of the issuer's pre-IPO share sales restriction period, the annual transfer of the issuer's shares directly or indirectly held before IPO shall not exceed 25% of the total number of shares by the time of IPO.

Dong Zhenfu, Dong Chunyan, Liang Jianbin, Liang Jianqi, Wang Lei, Chen Jingjiao, the relatives of the controlling shareholders and actual controllers of the shares promised 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.