Certain A Shares of San Yang Ma (Chongqing) Logistics Co.,Ltd. are subject to a Lock-Up Agreement Ending on 30-NOV-2023. These A Shares will be under lockup for 741 days starting from 19-NOV-2021 to 30-NOV-2023.

Details:
The controlling shareholder and actual controller Qiu Hongyang and his brother Qiu Honggang 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. 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), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by them will not exceed 25% of the holding.

Chongqing Yuwuxing Logistics Industry Equity Investment Fund Partnership (Limited Partnership) 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. 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.

Except for the controlling shareholder and actual controller Qiu Hongyang, his brother and director Qiu Honggang, other directors Zhang Kan, Ren Min, and Li Gangquan who hold shares of the company, supervisor Tang Ronghui, and senior managers Ma Dagui, Zhang Kan and Ren Min made the committments 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. 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), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by them will not exceed 25% of the holding.

Other shareholders of the company Guangxi Qinglan Dihe Investment Management Center (Limited Partnership), Daokang Hengmu Investment Partnership in Ningbo Meishan Free Trade Port Area (Limited Partnership), He Tao, Wu Yinjian, Pan Wenting, Wang Jinquan, Zeng Xiangfu, Peng Hongjun, Zhu Rongjiang , Kong Jidong, Xu Ping, Li Xuwentang, and Li Shiyu promised that within 12 months from the date of the company?s initial public offering and listing, they shall not transfer or entrust others to manage the shares that they directly or indirectly hold before the company?s initial public offering, nor shall the company repurchase the shares. Waiting for shares. If the company?s shareholding changes due to the company?s equity distribution, etc., they will still abide by the above commitments.