Certain A Shares of Hangzhou Shenhao Technology Co.,LTD. are subject to a Lock-Up Agreement Ending on 24-JUL-2023. These A Shares will be under lockup for 1102 days starting from 17-JUL-2020 to 24-JUL-2023.

Details:
The controlling shareholder and actual controller Chen Rushen, Wang Xiaoqing promised that 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. 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.

Commitment of directors, supervisors and senior management that within 12 months since the date of listing of the present shares in the Shenzhen Stock Exchange, 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. 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.

The other shareholders, Shanghai Inaba Investment Co., Ltd., Jiangsu Jianyin Investment Co., Ltd., Liu Qingfeng, Hangzhou Yisheng Investment Partnership (Limited Partnership), Zhang Wenguo, Xu Aigen, Hangzhou Haohe Investment Partnership (Limited Partnership), Hangzhou Haohong Investment Partnership (Limited Partnership), Chen Wubing, Hangzhou Haoyi Investment Partnership (Limited Partnership), Yongrui Investment Ningbo Meishan Bonded Port Area Yongrui Equity Investment Partnership (Limited Partnership), Zhuji Zheke Leying Venture Capital Partnership (Limited Partnership), Hangzhou Chenglin Equity Investment Partnership (Limited Partnership), Sun Yaming, Hangzhou Hetang Innovation Equity Investment Partnership (Limited Partnership), Zhang Yuanyuan, Jiang Yiran, Meng Ying, Wang Wanlian, Kong Chunli, and Fu Aizhen have agreed not to dispose off any shares for a period of 12 months since the listing date.