Certain A Shares of Xianheng International Science&Technology Co., Ltd. are subject to a Lock-Up Agreement Ending on 20-JUL-2022.
July 19, 2022
Share
Certain A Shares of Xianheng International Science&Technology Co., Ltd. are subject to a Lock-Up Agreement Ending on 20-JUL-2022. These A Shares will be under lockup for 370 days starting from 15-JUL-2021 to 20-JUL-2022.
Details:
The Company's holding shareholder Hangzhou Xingrun Investment Co., Ltd. and actual controller Wang Laixing 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.
After the lock-up has expired, while holding office, Wang Laixing committed to not transfer more than 25% of shares held each year.
The Company's shareholders Hangzhou Xianning Investment Partnership Enterprise (Limited Partnership), Hangzhou Wanning Investment Partnership Enterprise (Limited Partnership), Hangzhou Dening Investment Partnership Enterprise (Limited Partnership), Hangzhou Hongning Investment Partnership Enterprise (Limited Partnership), and Hangzhou Yining Investment Partnership Enterprise (Limited Partnership) 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.
The Company's senior management who are shareholders Li Dengdong, Sui Lin, and Zhang Zaifeng 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.
After the lock-up has expired, while holding office, they committed to not transfer more than 25% of shares held each year.
The Company's shareholders Shaoxing Xianheng Group Co., Ltd., Goldman Sachs Asia Strategic Pte. Ltd., Ningxia Kaixian Shunding Partnership Enterprise (Limited Partnership) 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.
Xianheng International Science & Technology Co Ltd is an intensive supplier of MRO (maintenance, repair, operation) of tools, instruments, and other products. In addition, the Company is also engaged in the research and development, production, sales and related technical services of the above-mentioned products. The Company's products mainly include hand tools, electromechanical tools, electrical equipment, identification labels, emergency equipment and other tools and instruments products and electrical instruments, electrical meters and other instrumentation products. In addition, the Company also provides technical services such as electrical equipment information collection and health evaluation, instrumentation repair and maintenance, and emergency safety culture dissemination. The Company conducts its businesses both in the domestic market and overseas markets.