Certain A Shares of Beijing Topnew Info & Tech Co., Ltd. are subject to a Lock-Up Agreement Ending on 24-SEP-2023. These A Shares will be under lockup for 1102 days starting from 17-SEP-2020 to 24-SEP-2023.

Details:
The Company?s holding shareholder Beijing Shishang Holding Co., Ltd. and 5%+ shareholder Beijing Topnew Group Co., Ltd. committed: to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 36 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months.

The Company?s directors and senior management Gao Hongbo, Li Chaocheng, Fan Hongtao, and Liu Yi and also Company?s other shareholders committed: to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 12 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months.