Certain A Shares of TES Touch Embedded Solutions (Xiamen) Co., Ltd. are subject to a Lock-Up Agreement Ending on 17-NOV-2022. These A Shares will be under lockup for 738 days starting from 9-NOV-2020 to 17-NOV-2022.

Details:
Shareholding Arrangement, Voluntary Lockout Commitment of Shares and Shareholding and Reduction of Commitment of Shareholders holding more than 5% voluntary commitments in regards to shares' transfer and lock-up period the company's controlling shareholders, IPC Management Limited, 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. 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. 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

The Company´s actual controlled, Jiang Chaorui (AKA Michael Chao-Juei Chiang) 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.

The Shareholders Pine Castle Investments Limited, Jialin (Tianjin) Investment Partnership (Limited Partnership), Legend Point International Ltd, Beijing Hongde Century Investment Co., Ltd., Goldpoly Company Limited, Xiamen Baosheng Investment Co., Ltd, Dynamic Wise International Limited, Xiamen Zhonghe Zhixin Venture Capital Partnership (Limited Partnership), Zhuhai Hengqin Gaoli Investment Partnership (Limited Partnership), Eternal Rise Holdings Limited Profit Sheen Investments Limited, Xiamen Chenzhen Investment Partnership (Limited Partnership), Xiamen Chiping Investment Partnership (Limited Partnership) committed 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.

Directors Jiang Chaorui (AKA Michael Chao-Juei Chiang), Sun Daming, Li Mingfang and Huang Huobiao as well as senior management personnel Wu Junting, Chen Jiancheng, Qiu Yunhong and Zhong Bai´an committed that during tenure at the Company, transferred shares per year cannot exceed 25% of total held shares. After leaving the Company, transferred shares per year cannot exceed 50% of total held shares. Supervisors Wu Wenyu, Wang Weili and Li Li committed that during tenure at the Company, transferred shares per year cannot exceed 25% of total held shares. After leaving the Company, transferred shares per year cannot exceed 50% of total held shares.