Certain A Shares of Changzhou Xiangming Intelligent Drive System Corporation are subject to a Lock-Up Agreement Ending on 25-MAR-2024. These A Shares will be under lockup for 739 days starting from 17-MAR-2022 to 25-MAR-2024.

Details:
The controlling shareholder Changzhou Xiangxing Information Technology Co., Ltd. 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.

Zhang Guoxiang and Zhang Min, the actual controllers of the Company, 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. 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.

Changzhou Xiangguang Equity Investment Center (General Partnership)?Shenzhen Qianhai Shenghui Equity Investment Partnership (Limited Partnership); Yang Jianfen, Yang Jianping, Yang Jiandong 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.

Changzhou Xianghua Management Consulting Co., Ltd. promised that, within 36 months from the date of listing of the issuer?s shares, the company shall not transfer or entrust others to manage the issuer?s shares issued before the company?s initial public offering, nor shall the issuer repurchase such shares.

Minsheng Securities Investment Co., Ltd. promised that, within 12 months from the date of listing of the issuer?s shares, the company shall not transfer or entrust others to manage the issuer?s shares issued before the company?s initial public offering, nor shall the issuer repurchase such shares.

Wang Qinping, Yang Jian, Bi Haitao, Zhang Weiming, Li Hua 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. 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.