Certain A Shares of Hangzhou Chinastars Reflective Material Co.,Ltd. are subject to a Lock-Up Agreement Ending on 30-SEP-2023. These A Shares will be under lockup for 738 days starting from 22-SEP-2021 to 30-SEP-2023.

Details:
The shareholders, Wang Shijie and Chen Yi have agreed not to dispose off any shares within 36 months after the listing date. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period shall automatically be extended for 6 months. During the term of office as the company?s director, member of supervisory board, senior management personnel, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.

The shareholder, Hangzhou Jiechuang Enterprise Consulting Management Partnership Enterprise (Limited Partnership) has agreed not to dispose off any shares within 36 months after the listing date. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period shall automatically be extended for 6 months.

The shareholder, Niu Jiang has agreed not to dispose off any shares within 12 months after the listing date. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period shall automatically be extended for 6 months.

Members of the board of directors, members of supervisory board, senior management personnel with indirectly shareholding through Hangzhou Jiechuang Enterprise Consulting Management Partnership Enterprise (Limited Partnership), Qin Heqing; Zha Weiqian; Zhang Qi; Jia Weican have agreed not to dispose off any shares within 12 months after the listing date. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period shall automatically be extended for 6 months. During the term of office as the company?s director, member of supervisory board, senior management personnel, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.