Taotao Vehicles' actual controller Cao Matao has voluntarily extended the lock-up period for his company shares. Cao Matao directly holds 28.5 million shares and indirectly holds 45 million shares through Zhejiang Zhongtao Investment Co., Ltd., totaling 73.5 million shares, representing 67.40% of the company's total share capital. All are restricted shares from before the initial public offering, originally set to be released from lock-up on September 21, 2026. Based on confidence in the company's future development prospects, Cao Matao commits not to reduce his direct or indirect holdings of the company's issued shares from September 21, 2026, to September 20, 2027. Shares derived during the lock-up period from bonus issues, capitalisation of capital reserves, rights issues, or other reasons will also comply with the above lock-up commitment. The company's board of directors stated it will continuously monitor the fulfilment of the commitment and disclose information in a timely manner.
Zhejiang Taotao Vehicles Co. Ltd. AActual controller extends lock-up period, signaling confidence and reducing potential selling pressure.