Certain A Shares of Ningbo Dechang Electrical Machinery Made Co., Ltd. are subject to a Lock-Up Agreement Ending on 21-OCT-2022. These A Shares will be under lockup for 371 days starting from 15-OCT-2021 to 21-OCT-2022.

Details:
The Company's holding shareholders and actual controllers Huang Yuchang, Zhang Liying, and Huang Shi and their controlled companies who are shareholders Changshuo (Ningbo) Enterprise Management Co., Ltd., Ningbo Derong Intelligent Technology Partnership Enterprise (Limited Partnership), Ningbo Delang Information Consulting Partnership Enterprise (Limited Partnership), and Ningbo Demai Commercial Information Consulting Partnership Enterprise (Limited Partnership) committed 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, Huang Yuchang, Zhang Liying, and Huang Shi committed to not transfer more than 25% of shares held each year.

The Company's shareholders Ningbo and feng Venture Capital Co., Ltd., Shanghai Jinpu Guodiao M&A Equity Investment Fund Partnership Enterprise (Limited Partnership), Jiangyin Yida Hi-tech Venture Capital Partnership Enterprise (Limited Partnership), SME Development Fund (Jiangsu Limited Partnership), and Qian Jin committed 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.