Certain A Shares of Xin Hee Co., Ltd. are subject to a Lock-Up Agreement Ending on 26-OCT-2023.
October 25, 2023
Share
Certain A Shares of Xin Hee Co., Ltd. are subject to a Lock-Up Agreement Ending on 26-OCT-2023. These A Shares will be under lockup for 1102 days starting from 19-OCT-2020 to 26-OCT-2023.
Details:
The company's controlling shareholder, Xin Hee International Co., Ltd, Sun Ruihong, Sun Menghui, Zhuo Jianrong, Sunma Baoyu, Xiamen Xin Hee Investments Co., Ltd. and Giant Development Co., Ltd committed not to transfer or entrust to a third party the company?s shares it holds directly or indirectly before the public offering, or allow the company to repurchase these shares within 36 months since the company?s share listing date. 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 months 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.
The shareholders Xiamen Junsheng Investment Partnership (Limited Partnership), Purple Forest Limited, Xiamen Xinjiajun Investment Co., Ltd., Hongye Asia Co., Ltd., Xiamen Junhao Investment Partnership (Limited Partnership), Lin Zongsheng, Chen Guohan, Wang Bidai and Cao Peizhong committed not to transfer or entrust to a third party the company?s shares it holds directly or indirectly before the public offering, or allow the company to repurchase these shares within 12 months since the company?s share listing date. 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 months 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.
Xin Hee Co Ltd is a China-based company mainly engaged in the design, production and sales of women's clothing. The Company mainly has seven independent brands. JORYA is positioned in the high-end mature women's clothing market. JORYA weekend products are British college casual style. ANMANI positioned a fashionable urban style. GIVH SHYH is mainly fashionable casual wear. The CAROLINE brand favors urban professional wear. The AIVEI brand is positioned in the fashion ladies' wear market. The QDA brand is positioned in the high-end consumer market. Its products include clothing and commodities, such as tops, windbreakers, down jackets, leather garments, sweaters, shirts, skirts, pants, belts, scarves, hats, headbands, necklaces, socks, gloves, sandals, leather shoes, casual shoes, boots, handbags, shoulder bags, wallets, etc. The Company has stores in multiple cities in China. The Company conducts its businesses within the China market and to overseas markets.
XIN HEE CO.,LTD. 
