Certain A Shares of Hangzhou Hota M&E Holdings Co., Ltd. are subject to a Lock-Up Agreement Ending on 22-FEB-2024. These A Shares will be under lockup for 377 days starting from 10-FEB-2023 to 22-FEB-2024.

Details:
The Company?s actual controller Xu Qing, persons acting in concert Xu Ying and Feng Yilin, holding shareholder Hangzhou Hetai Holding Co., Ltd. committed: to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 36 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months.

After the lock-up has expired, while holding office, Xu Qing committed to not transfer more than 25% of shares held each year.

The Company?s directors and senior management Liu Xuefeng, Tong Jian?en, and Tian Meihua committed: to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 12 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months.

After the lock-up has expired, while holding office, they committed to not transfer more than 25% of shares held each year.

The Company?s shareholders Hangzhou Haitai Jinghua Venture Capital Partnership Enterprise (Limited Partnership) and supervisors Ni Huijuan, Tan Tao, and Li Bing committed: to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 12 months from the listing date.

After the lock-up has expired, while holding office, Ni Huijuan, Tan Tao, and Li Bing committed to not transfer more than 25% of shares held each year.