Certain A Shares of Shandong Nanshan Zhishang Sci-Tech Co.,Ltd. are subject to a Lock-Up Agreement Ending on 22-DEC-2023. These A Shares will be under lockup for 1095 days starting from 22-DEC-2020 to 22-DEC-2023.

Details:
NANSHAN GROUP CO., Ltd, the Company's controlling shareholder and the Nanshan Village Municipal Committee, the actual controller 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. If there is any case of dividends, bonus shares, capitalization of capital reserve and other similar cases, issue price will be adjusted according to ex-dividend and ex-interests. After the expiry of the lock-up period (including the extended lock-up period), the parties promise that yearly transfer of shares made by them will not exceed 25% of the holding, both direct and indirect, held by the present parties. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect.

Shareholders Yantai Nansheng Investment Partnership (Limited Partnership) and Yantai Shengkun Investment Partnership (Limited Partnership)., commit 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.

Directors and managing personnel in the company commit 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.

Supervisors in the company commit 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.