Certain A Shares of Zhejiang Hengwei Battery Co., Ltd. are subject to a Lock-Up Agreement Ending on 10-MAR-2024. These A Shares will be under lockup for 737 days starting from 4-MAR-2022 to 10-MAR-2024.

Details:
The Company?s holding shareholder Jiaxing Hengmao Enterprise Management Co., Ltd., Wang Jianping, Wang Jianhong, Fu Qinghua, Wang Xiaoyang, Fu Yu, and Xu Yanyun, and Management personnel Yang Ju promised: 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, Wang Jianping, Wang Jianhong, Fu Qinghua, and Yang Ju committed to not transfer more than 25% of shares held each year.

The Company?s shareholder Jiaxing Henghui Enterprise Management Partnership Enterprise (Limited Partnership) promised: 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.

The Company?s shareholder Pan Jiaquan promised: 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 capital increase completion date, i.e. June 18, 2020.

The Company?s director Xu Yaoting promised: 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. After the lock-up has expired, while holding office, Xu Yaoting committed to not transfer more than 25% of shares held each year.

The Company?s shareholders Xie Jianyong and Gao Yanfeng, supervisors Yuan Ruiying, Shen Zhilin, and Chen Yu, and core technical employee Lu Yanfang promised: 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. After the lock-up has expired, while holding office, Yuan Ruiying, Shen Zhilin, and Chen Yu committed to not transfer more than 25% of shares held each year.