Certain A Shares of Zhejiang Hongchang Electrical Technology Co., Ltd. are subject to a Lock-Up Agreement Ending on 10-JUN-2022. These A Shares will be under lockup for 372 days starting from 3-JUN-2021 to 10-JUN-2022.

Details:
Company shareholder and actual controller Zhou Huiming promises that they will not transfer or entrust others to manage the company's directly or indirectly held shares issued before the company's public offering, nor will the company repurchase such shares within 36 months from the date of listing of the company's shares.

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), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.

Zhejiang Hongchang Holdings Co., Ltd promises that company will not transfer or entrust others to manage the company's directly or indirectly held shares issued before the company's public offering, nor will the company repurchase such shares within 36 months from the date of listing of the company's shares.

Zhejiang Venture Capital Group Co., Ltd. commits that company will not transfer or entrust others to manage the company's directly or indirectly held shares issued before the company's public offering, nor will the company repurchase such shares within 12 months from the date of listing of the company's shares.

Jinhua Honghe Enterprise Management Partnership (Limited Partnership) and Jinhua Hongsheng Enterprise Management Partnership (Limited Partnership) commits that they will not transfer or entrust others to manage the company's directly or indirectly held shares issued before the company's public offering, nor will the company repurchase such shares within 36 months from the date of listing of the company's shares.

The company's shareholders Lu Baoming and Lu Ying promises that they will not transfer or entrust others to manage the company's directly or indirectly held shares issued before the company's public offering, nor will the company repurchase such shares within 36 months from the date of listing of the company's shares.

Company shareholders Xu Xuhong, Cha Jianmei, Wu Xing, Song Enping and Dai Xuan promises that they will not transfer or entrust others to manage the company's directly or indirectly held shares issued before the company's public offering, nor will the company repurchase such shares within 12 months from the date of listing of the company's shares.

Zhang Shaozhong, Tao Jue, and She Yan as directors and senior managers of the company promises that they will not transfer or entrust others to manage the company's directly or indirectly held shares issued before the company's public offering, nor will the company repurchase such shares within 12 months from the date of listing of the company's shares.

The company's supervisors Tong Yuefang, Sheng Shouyue and Yu Jianguo promises that they will not transfer or entrust others to manage the company's directly or indirectly held shares issued before the company's public offering, nor will the company repurchase such shares within 12 months from the date of listing of the company's shares.