MANYCORE TECH (00068) Core Management Voluntarily Extends Lock-up Commitment by 12 Months, Demonstrating Confidence in Long-term Development

On October 20, MANYCORE TECH (00068) issued an announcement that, due to their optimism regarding the company's long-term value, core competitiveness, and future prospects, co-founders Huang Xiaohuang, Chen Hang, and Zhu Hao, as well as CFO Shen Bei, voluntarily extended or entered into a 12-month lock-up period for the relevant equity interests they respectively hold in the company. The shares subject to the extension commitments total 483 million shares, accounting for approximately 27.99% of the company's total issued shares. In addition, major shareholders of MANYCORE TECH, including Linear Capital, Yunqi Partners, Hesai Technology, GOLDSTREAM INV, Wusong Capital, and CR CONSTRUCTION (with Zhejiang Construction Investment Group as its controlling shareholder), have explicitly stated that they are optimistic about the long term and will continue to hold their shares. Such voluntary non-reduction commitments by core management and the statements from shareholders typically serve as positive signals in the capital markets. The significant narrowing of the scale of shares eligible for release from lock-up this time helps enhance investor confidence and creates favorable conditions for boosting market confidence and the company's subsequent valuation recovery.