Certain A Shares of Xinling Electrical CO., LTD. are subject to a Lock-Up Agreement Ending on 10-NOV-2023. These A Shares will be under lockup for 380 days starting from 26-OCT-2022 to 10-NOV-2023.

Details:
Holding shareholders, actual controllers, Hu Zhixing and Hu Zhilin 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.

Other enterprises under control of actual controllers, Leqing City Xinling Investment Co., Ltd., Leqing City Xin Yi Te Investment Partnership Enterprise (Limited Partnership), Leqing City Xin Yi Jia Investment Partnership Enterprise (Limited Partnership), and Leqing City Xin Zhe Ming Investment Partnership Enterprise (Limited Partnership) 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.

Natural shareholder with more than 5% shareholding, Zhang Pengchun 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.

Relatives of actual controllers, Di Jianguang, Hu Xiaofang, Hu Yijia, and Hu Yida 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.

Members of supervisory board with indirect shareholdings, Du Yongjie, Hong Quanbiao, and Ye Fang 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.

Senior management personnel with indirect shareholding, Lin Xiangwei and Su Guoqiang 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.