Certain A Shares of Shenzhen Phoenix Telecom Technology Co., Ltd. are subject to a Lock-Up Agreement Ending on 26-MAY-2023. These A Shares will be under lockup for 368 days starting from 23-MAY-2022 to 26-MAY-2023.

Details:
The company's controlling shareholder and actual controller Chen Longfa promised as follows promised 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. After the expiry of the lock-up period (including the extended lock-up period), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.

The directors, supervisors and senior executives Shu Shan, Pang Yejun, Wang Qian and Wansheng who hold the company's shares promised 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. After the expiry of the lock-up period (including the extended lock-up period), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.

The company's shareholder Chen Xi, Gao Guoliang and his spouse Liu Xueying, who hold more than 5% of the company's shares, promised that within 36 months from the date of listing of the issuer, they shall not transfer or entrust others to manage the shares issued before the issuer's public offering of shares that they directly or indirectly hold, nor shall they propose that the issuer repurchases the shares.

Shenzhen Yuanzhi Huaxin Emerging Industries Equity Investment Fund Partnership (Limited Partnership) and its fund manager's employee follow-up investment platform Shenzhen Xinfuhui No. 9 Investment Partnership (Limited Partnership) promised that within 36 months from the date of the issuer's listing, the issuer shall not transfer or entrust others to manage the shares issued by the issuer before the issuer's public offering of shares, nor propose that the issuer repurchase the shares.

The supervisors Jiang An'quan and Zhu Xingheng, who hold the company's shares, promised that within 12 months from the date of listing of the issuer, they shall not transfer or entrust others to manage the shares issued before the issuer's public offering of shares that they directly or indirectly hold, nor shall they propose that the issuer repurchases the shares. After the expiry of the lock-up period (including the extended lock-up period), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.

The other shareholders of the company Chen Meiling, Zhang Haiyan, He Jie, Xu Jian, Chen Yan, Di Dongqing, Cao Xinjun and Yang Jiling promised that within 12 months from the date of listing of the issuer, they shall not transfer or entrust others to manage the shares issued before the issuer's public offering of shares that they directly or indirectly hold, nor shall they propose that the issuer repurchases the shares.