Certain A Shares of Zhejiang Zhengguang Industrial Co., Ltd. are subject to a Lock-Up Agreement Ending on 2-NOV-2023. These A Shares will be under lockup for 742 days starting from 21-OCT-2021 to 2-NOV-2023.

Details:
The company?s controlling shareholder and actual controller Shen Jianhua issued the "Commitment on Voluntary Locking of Shares" will not transfers nor entrustment of shares to any third party nor repurchase by the company, within 36 months since the date of listing of the present shares. 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. 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.

In addition to the company?s actual controller Shen Jianhua, the directors and senior managers who hold the company?s shares, Wang Xuanming, Lao Fayong, Wang Huanjun, Wang Guozhou, Wu Yafei and Zhang Yi, Jiang Caishun, and Shen Weizhong issued the "Commitment on Voluntary Locking of Shares", will not transfers nor entrustment of shares to any third party nor repurchase by the company, within 12 months since the date of listing of the present shares. 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. 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.

Other shareholders of the company Jiang Jing, Lü Huiming, Hu Jinqiang, Yao Xingliang, Xu Bin, Xu Wei, Xu Xiaowei, Lu Wei, Wang Lisun, Xiu Huimin, Fang Weiqiang, Zhong Yiling, Huang Hao, Shen Hairong, Cheng Yuecao, Shen Yongmei, Wang Zhiqing, Lu Xiande, Zhu Wenrong, Dai Wenqiang, Zhu Jianer, Zhu Jianhua, Zhu Suogen, Qian Huifang issued the "Commitment on Voluntary Locking of Shares", will not transfers nor entrustment of shares to any third party nor repurchase by the company, within 12 months since the date of listing of the present shares in the Shanghai Stock Exchange.