Certain A Shares of HIT Welding Industry Co.,Ltd are subject to a Lock-Up Agreement Ending on 22-MAR-2024. These A Shares will be under lockup for 739 days starting from 14-MAR-2022 to 22-MAR-2024.

Details:
The company?s controlling shareholder, actual controller, and shareholder holding more than 5% of the shares, Changzhou Xiehe Equity Investment Center (Limited Partnership) 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.

Changzhou Hengtong Investment Development Co., Ltd., Shareholder Shan Xinghai and Zhang Yuqiang promised, 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.

Directors and senior executives who directly or indirectly hold shares of the company Zhou Quanfa, Zhou Jinjing, Chen Bo, Li Zhenhua, Zhang Xingchang promised, that within 12 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.

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.