Certain A Shares of Longhorn Auto Co., Ltd. are subject to a Lock-Up Agreement Ending on 5-JUL-2024. These A Shares will be under lockup for 375 days starting from 26-JUN-2023 to 5-JUL-2024.

Details:
The company?s holding shareholder Shenzhen Longhorn Technology Group Co., Ltd. promised that within 36 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period will automatically be extended for 6 months.

The company?s actual controllers Chen Qingfeng and Chen Jinfa promised that within 36 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period will automatically be extended for 6 months.

The company?s shareholders Luo Xiaoping, Shenzhen Huaentai Technology Co., Ltd., Shenzhen Yinghuajia Technology Co., Ltd., Shenzhen Huataihua Technology Co., Ltd., Shenzhen Jiafutai Investment Partnership Enterprise (Limited Partnership), Shenzhen Jiaentai Investment Partnership Enterprise (Limited Partnership) and Shenzhen Jiapingtai Investment Partnership Enterprise (Limited Partnership) promised that within 36 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares.

Shareholders Shenzhen Zhixiang Baqi Investment Enterprise (Limited Partnership) and Shenzhen Zizheng Management Enterprise (Limited Partnership) promised that within 36 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares.

Shareholder Ningbo Huihe Investment Partnership Enterprise (Limited Partnership) promised that within 12 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares.

The company?s directors, management personnel Chen Qingfeng, Zhu Zhengchang, Luo Xiaoping, Li Xiaojuan, Xiao Wenlong, Zhang Xiaoling, Tian Lei and Yuan Chunbo promised that within 36 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. After the expiration of the above lockup period, during the term of office in the company, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period will automatically be extended for 6 months.

The company?s supervisors Qin Lin, Li Ganlin and Chen Tefang promised that within 36 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. After the expiration of the above lockup period, during the term of office in the company, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.