Certain A Shares of Zhang Xiaoquan Inc. are subject to a Lock-Up Agreement Ending on 7-MAR-2023. These A Shares will be under lockup for 554 days starting from 30-AUG-2021 to 7-MAR-2023.

Details:
The controlling shareholder Hangzhou Zhangxiaoquan Group Co., Ltd., the shareholders namely Hangzhou Rongquan Investment Partnership Enterprise (Limited Enterprise), Hangzhou Industrial Investment Group Co., Ltd. have committed not to 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 within 36 months after the listing date. 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.

The actual controllers Zhang Guobiao, Zhang Zhangsheng and Zhang Xincheng have committed not to 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 within 36 months after the listing date. 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.

The other shareholders Hangzhou Zhenquan Investment Partnership Enterprise (Limited Enterprise), Zhang Mulan have committed not to 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 within 36 months after the listing date.

The other shareholders namely Shanghai Juneyao (Group) Co.,Ltd., Yadong Beichen Investment Management Co., Ltd, Tibet Wensheng Jinda Investment Co., Ltd., Wanfeng Jinyuan Investment Co., Ltd., Jin Yan, Wan Zhimei, Chen Dejun, Yu Buxiao, Wang Wenjie, Bai Tao, Ding Guoqi and Zhou Guangtao have committed not to 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 within 12 months after the listing date.

The directors and senior executives holding shares of the company Xia Qianliang, Wang Yongjian, Gan Shulin, Wang Xianyu, Ding Chenghong and Wu Xiaoming have committed not to 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 within 12 months after the listing date. 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.