Certain A Shares of Henan Jinan Lactic Acid Technology Co.,Ltd are subject to a Lock-Up Agreement Ending on 22-APR-2023. These A Shares will be under lockup for 1100 days starting from 17-APR-2020 to 22-APR-2023.

Details:
The company-controlling shareholder and actual controller, namely, Zhang Peng has agreed not to dispose of their interest for a period of 36 months from the date of listing. 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), the parties promise that yearly transfer of shares made by them will not exceed 25% of the holding, both direct and indirect.

The shareholder, namely, Shareholders Yu Peixing, Shi Yongzhen, Guangzhou Chengxin Investments Co., Ltd., Zhouzhong Investments Co., Ltd., Cui Yaojun, Chen Fei, Wang Ranming, Wang Jinxiang, Yu Min, Li Ruixia, Liu Wei, Shenzhen Venture Capital, Zhengzhou Bairui, Ningbo Saier, Luoyang Red Earth, China Venture Capital, Zhejiang China, other shareholders and Yu Peixing, Shi Yongzhen, Cui Yaojun, Chen Fei, Wang Ranming, who are the directors, supervisors and senior executives of the issuer have agreed not to dispose of their interest for a period of 12 months from the date of listing.