Certain A Shares of Sailvan Times Co., Ltd. are subject to a Lock-Up Agreement Ending on 13-JUL-2024. These A Shares will be under lockup for 375 days starting from 4-JUL-2023 to 13-JUL-2024.

Details:
The company?s holding shareholder Nanping Yanping Junteng Investment Co., Ltd. and shareholders Nanping Yanping Junhui Investment Co., Ltd., Fujian Saidao Enterprise Management Partnership Enterprise (Limited Partnership) promised within 36 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to 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 will automatically be extended for 6 months.

The company?s actual controller Chen Wenping and party acting in concert Chen Wenhui promised within 36 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to 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 will automatically be extended for 6 months. After the expiration of lockup period, during the term of office, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.

Actual controller?s relatives Wang Yuanyuan, Chen Yishan, Chen Lingxiang promised within 36 months after the listing date, will not transfer nor entrust to others for management shares in the company held prior to 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 will automatically be extended for 6 months.

Directors, supervisors, management personnel Wang Xucheng, Wang Zhiwei, Zhang Zhenzhi, Chen Xiaolan, Lin Wenjia, Shuai Yong, Ai Fan, Wu Yahong promised within 12 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to 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 will automatically be extended for 6 months. After the expiration of lockup period, during the term of office, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.

Other shareholders Nanping Yanping Zhongteng Enterprise Management Partnership Enterprise (Limited Partnership), Xiamen Xinrui Jitai Equity Investment Partnership Enterprise (Limited Partnership), Xiamen Jianguo Internet Investment Partnership Enterprise(Limited Partnership), Xiamen Jianguo Brothers Venture Capital Partnership Enterprise (Limited Partnership), Jiaxing Pucheng Equity Investment Partnership Enterprise (Limited Partnership), Guangzhao (Shenzhen) Investment Consulting Center (Limited Partnership), Guangzhou Zhuoshi Growth Equity Investment Enterprise (Limited Partnership), Shanghai Orient Securities Innovation Investment Co., Ltd., Ningbo Fengyuan Qicheng Investment Partnership Enterprise (Limited Partnership) and Ningbo Meishan Free Trade Port Area Fengyuan Qihang Investment Partnership Enterprise (Limited Partnership) promised within 12 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to issuance, nor allow the company to repurchase the said shares.