Certain A Shares of Shanghai Rychen Technologies Co., Ltd. are subject to a Lock-Up Agreement Ending on 26-OCT-2023. These A Shares will be under lockup for 380 days starting from 11-OCT-2022 to 26-OCT-2023.

Details:
Holding shareholder, actual controller, chairman of the board of directors, general manager, core technical personnel Chen Wandong promised that within 36 months after the listing date, shall not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period shall automatically be extended for 6 months. During the term of office as the company?s director, member of supervisory board, senior management personnel, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.

Enterprises controlled by Chen Wandong, Shanghai Xinpu Investment Management Partnership Enteprises, Ningbo Wandong Shangrong Investment Management Partnership Enterprise (Limited Partnership) and Shanghai Yangdong Enterprise Management Partnership Enterprise promised that within 36 months after the listing date, shall not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period shall automatically be extended for 6 months.

Sister of Chen Wandong, Chen Jian and Brother of Chen Wandong Chen Wanqing promised that within 36 months after the listing date, shall not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares.

Other shareholders with more than 5% shareholding Ningbo Juchen, Fanrong Investment Management Partnership Enterprise (Limited Partnership) and Ningbo Huding Zhixin Equity Investment Partnership Enterprise (Limited Partnership) promised that within 12 months after the listing date, shall not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares.

Other members of the board of directors and senior management personnel Chen Zhaofeng, Zhang Weihong, Li Wei, Lu Yinhua, Cheng Yuan and Zhu Futao promised that within 12 months after the listing date, shall not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period shall automatically be extended for 6 months. During the term of office as the company?s director, member of supervisory board, senior management personnel, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.

Members of the supervisory board Lu Zengli, Zhao Pengju and Xue Yan promised that within 12 months after the listing date, shall not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. During the term of office as the company?s director, member of supervisory board, senior management personnel, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.