Certain A Shares of Zhejiang Power New Energy Co., Ltd. are subject to a Lock-Up Agreement Ending on 19-SEP-2023. These A Shares will be under lockup for 375 days starting from 9-SEP-2022 to 19-SEP-2023.

Details:
The company?s controlling shareholder Zhuji Zhaoyuan Investment Co., Ltd., Zhang Bao; Zhejiang Zhancheng Construction Group Co., Ltd., person acting in concert of one of the company?s controlling shareholder will not be 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.

The company?s actual controllers Wang Zhenyu and Zhang Bao; the company?s actual controller Wang Zhenyu?s close relative and director Wang Miaofu; Persons acting in concert of the company?s controlling shareholders and directors Yao Ting and Wang Baoliang will not be 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), 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.

Li Sida, a close relative of Wang Zhenyu, the actual controller of the company will not be 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.

Company shareholders Zhejiang Zheshang Industrial Investment Fund Partnership (Limited Partnership), Hangzhou Legao Investment Management Partnership (Limited Partnership), Zhejiang Linhai Yongqiang Equity M&A Investment Center (Limited Partnership), Hangzhou Zhejiang Agricultural Kezhong Venture Capital Partnership ( Limited partnership), Hangzhou Jinyanxue?er Investment Partnership (Limited Partnership), Jiaxing Pingrong Phase I Investment Partnership (Limited Partnership), Zhuji Hengjin Ronghui Venture Capital Partnership (Limited Partnership), Zhuji Fuhua Industrial Transformation and Upgrading Fund Partnership (Limited Partnership), Wanxiang 123 Co., Ltd., Shanghai Jinbang Jinxing Venture Capital Partnership (Limited Partnership), Shenzhen Huiyou Chuangying Equity Investment Fund Partnership (Limited Partnership), Hangzhou Bijiashan Cultural Creativity Co., Ltd. and Wang Aiming will not be 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.

The new shareholders 12 months before the company?s IPO declaration Huzhou Quanmei Investment Partnership (Limited Partnership), Shenzhen Huiyue Growth Investment Fund Enterprise (Limited Partnership), Zhuji Jiyang High-level Talent Venture Capital Partnership (Limited Partnership), Ningbo Meishan Free Trade Port Zone Zhihui Runxin Equity Investment Partnership (Limited Partnership), Gongqingcheng Taifu Investment Center (Limited Partnership), Suzhou Huiyi Xinyuan No. 1 Venture Capital Partnership (Limited Partnership), Suzhou Huiyi Xinyuan No. 2 Venture Capital Partnership (Limited Partnership), Suzhou Huiyi Xinyuan No. 3 Venture Capital Partnership (Limited Partnership), Shaoxing Yuexin Investment Partnership (Limited Partnership), Huzhou Yuanxi Enterprise Management Consulting Partnership (Limited Partnership) ), Yibin Chendao New Energy Industry Equity Investment Partnership (Limited Partnership), Ningbo Meishan Free Trade Port Zone Chaoxing Venture Capital Partnership (Limited Partnership), Xiamen C&D Xinxing Industry Equity Investment No. 2 Partnership (Limited Partnership), Danyang Shengyu Hongtu Venture Capital Partnership (Limited Partnership), Shenzhen Qianhai Agricultural Science Growth No. 1 Investment Partnership (Limited Partnership), Shenzhen Zhongchuangda Investment Enterprise (Limited Partnership), Hangzhou Zhihui Xiaozi Equity Investment Partnership (Limited Partnership) ), Tianjin Haihe Rongchuang Tianjin-Beijing-Hebei Intelligent Industry Fund Partnership (Limited Partnership), Wen Zuoke will not be 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 or within 36 months from the company shares they got before this IPO.