Legal analysis: if the restricted shares held by individual investors are not lifted, they are generally not transferable. Before the lock-up period has passed, investors cannot sell these shares in the secondary market. If the restricted shares held by institutional investors reach 5% of all restricted shares, they cannot be transferred by agreement. However, some restricted shares held by institutional investors cannot be transferred by agreement. Please consult the account opening sales department for details.

Legal basis: Article 8 of the Guide to Handling Cases in People's Republic of China (PRC). In general, the shares transferred by agreement must be unrestricted shares. However, the restricted shares may be transferred by agreement provided that the provisions of Article 2.3.4 of the Measures for the Administration of the Acquisition of Listed Companies, Article 43 of the Opinions on the Application of the Securities and Futures Law No.4 and Article 74 of the Measures for the Administration of the Acquisition of Listed Companies are met.