According to Article 4 of the "Implementation Rules for Share Reduction by Venture Capital Fund Shareholders of Shenzhen Stock Exchange Listed Companies (Revised in 2020)", qualified venture capital funds will invest in early-stage enterprises, small and medium-sized enterprises or high-tech enterprises after they are listed on the market. , if the shares held by the transferee before the initial public offering are reduced through block transactions, the shares transferred by the transferee shall not be subject to the "Detailed Implementation Rules for Share Reductions by Shareholders and Directors, Supervisors and Senior Management Personnel of Shenzhen Stock Exchange Listed Companies" Paragraph 2 of Article 5 stipulates that "the transferee shall not transfer the transferred shares within six months after the transfer", which means that there is no need to lock in the shares for six months.

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