Certain A Shares of Hi-Trend Technology (Shanghai) Co., Ltd. are subject to a Lock-Up Agreement Ending on 13-SEP-2023. These A Shares will be under lockup for 371 days starting from 7-SEP-2022 to 13-SEP-2023.

Details:
The Company?s shareholders Hi-Trend Technology (HK) Co., Limited, Gowah Investment Limited, East Progress Investments Limited and Actions Integrated Circuit Design Co., Ltd., Li Yunqing and Million Legend Industries Limited),commit that within 36 months since the date of listing of the present shares, there will 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.

Zheng Wenchang, the shareholder serving as a senior manager; Xuming Zhang, a shareholder who serves as senior management and core technical personnel, and Zhang Mingxiong, a supervisor and core technical personnel who indirectly holds shares of the company promise that within 12 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), 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.

The core technicians Ma Xia, Pan Yu and Wang Yong who indirectly hold shares of the company; other company shareholders promise that within 12 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.

The Company?s directors Yang Shicong, Xie Yancun, Huang Yingyi and Wang Yinglin, promise 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), 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.

Supervisors Xie Hanping and Yang Yong; senior managers Ling Yun and Diao Fengzhi promise that 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.