Certain Shares of Huafang Group Inc. are subject to a Lock-Up Agreement Ending on 12-MAY-2023. These Shares will be under lockup for 154 days starting from 9-DEC-2022 to 12-MAY-2023.

Details:
By the Controlling Shareholders
Pursuant to Rule 10.07(1) of the Listing Rules, each of the controlling shareholders has undertaken to the Stock Exchange that he/it shall not and shall procure that the relevant registered holder(s) of Shares shall not:
(a) in the period commencing on the date by reference to which disclosure of his/its
shareholding is made in this prospectus and ending on the date which is nine months from the Listing Date (the “First Nine-Month Period”), dispose of, nor enter into any agreement to dispose of or otherwise create any options, rights, interests or encumbrances in respect of, any of the Shares in respect of which he/it is shown by this prospectus to be the beneficial owner (as defined in Rule 10.07(2) of the Listing Rules) (the “Relevant Securities”); and
(b) in the period of the following three months commencing from the expiry of the First Nine-Month Period (the “Following Three-Month Period”), dispose of, nor enter
into any agreement to dispose of or otherwise create any options, rights, interests or encumbrances in respect of any of the Relevant Securities if, immediately following such disposal or upon the exercise or enforcement of such options, rights, interests or encumbrances, he/it would cease to be a controlling shareholder (as defined in the Listing Rules) of the Company.

9 and 12 months lock-ups from the listing date to be made.