Certain A Shares of Shanghai Karon Eco-Valve Manufacturing Co., Ltd. are subject to a Lock-Up Agreement Ending on 11-APR-2023. These A Shares will be under lockup for 375 days starting from 1-APR-2022 to 11-APR-2023.

Details:
The company's holding shareholder Karon Holding Company Limited, actual controllers Li Zhenghong and Li Qiumei, their relatives Li Yiting, Li Wanting, and Li Jiarong, and indirect shareholder Famsistent Holding Company Limited committed to not transfer or entrust to a third party the Company's shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 36 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months. After the lock-up has expired, while holding office, Li Zhenghong, Li Qiumei, and Li Yiting committed to not transfer more than 25% of shares held each year.

The company's shareholder Fulakai Consulting (Shanghai) Co., Ltd. committed to not transfer or entrust to a third party the company's shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 12 months from the listing date.