On May 14th, Peng Jun, Chairman, co-founder, and CEO of Xiaoma Zhixing, as well as co-founder and CTO Lou Tiancheng, have signed voluntary agreements to extend the lock up period (referred to as the "extended lock up period").
According to the agreement, all company shares and related securities held by the two founders will continue to be locked in for 540 days from the expiration date of the company's initial public offering lock up period. The extension of the lock up period involves 110828 shares of Class A common stock and 81088770 shares of Class B common stock, accounting for approximately 22.9% of the total issued common stock of the company.
It should be emphasized that the 540 day lock up period covers multiple key business nodes, fully reflecting the management's firm commitment to deeply cultivating industrial value and sharing long-term development results with investors.
Peng Jun, co-founder and CEO of Xiaoma Zhixing, said, "This voluntary extension of the lock up period reflects our full confidence in Xiaoma Zhixing's long-term strategy and commercial prospects. Currently, the company is in a critical stage of large-scale production and deployment of Robotaxi, and we hope to further strengthen the trust of shareholders and the market through this commitment, and promote the company's sustainable growth. ”
Lou Tiancheng, co-founder and CTO of Xiaoma Zhixing, said: "Xiaoma Zhixing's technical strength in the field of automatic driving is constantly breaking the boundary. Our seventh generation of auto drive system uses 100% of vehicle specification level parts and realizes significant cost optimization, which has already met the conditions for mass production. The extension of the lock up period is based on our full verification of the technical route and business model. We will continue to innovate and promote the application of automatic driving technology in the world."
