Certain A Shares of HG Technologies Co., Ltd. are subject to a Lock-Up Agreement Ending on 9-JUL-2023. These A Shares will be under lockup for 1105 days starting from 29-JUN-2020 to 9-JUL-2023.

Details:
The company's controlling shareholder Hebei Hanguang Heavy Industry Co., Ltd., the company's shareholders CSSC Heavy Industry Science and Technology Investment Development Co., Ltd., and CSSC Capital Holdings (Tianjin) Co., Ltd.'s commitment to shareholding and reduction of shares is 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), the parties promise that yearly transfer of shares made by them will not exceed 25% of the holding, both direct and indirect, held by the present parties. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect. If any of the parties were to resign within 6 months from the present IPO, neither direct nor indirect holdings might be transferred or sold for 18 months since the date of rescinding. If the parties resign within 7 to 12 months after the IPO, neither direct nor indirect holdings might be transferred or sold for 12 months since the date of rescinding.

Shareholders of the company's Handan City Finance Bureau Information Center, Chinese Academy of Sciences Institute of Chemistry, China State-owned Capital Venture Capital Co., Ltd. committed 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.

The shareholders of the company, Beijing Guangyuan Lida Investment Development Center (partnership), Ningbo Daxie Hansheng Enterprise Management Co., Ltd., Gongqingcheng Yinxi Investment Management Partnership (Limited Partnership), and Shenzhen Star Capital Management Co., Ltd. committed that within 12 months since the date of listing of the present shares in the Shanghai Stock Exchange, there will not be no transfers nor entrustment of shares to any third party nor repurchase by the Company.

The actual controller of the company, China Shipbuilding Industry Group Co., Ltd., promised that within 36 months since the date of listing of the present shares in the Shanghai Stock Exchange, 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.