Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1560

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 1560
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 and acquisitions by foreign investors in the PRC may make merger and acquisition activities
by foreign investors more complex and time consuming, including, among others:

    ●
    
    the
    requirement that the Ministry of Commerce of the PRC (the “MOFCOM”) be notified in certain circumstances in advance of
    any change-of-control transaction in which a foreign investor takes control of a PRC domestic enterprise or any concentration of
    undertaking if certain thresholds are triggered;

    ●
    
    the
    authority of certain government agencies to have scrutiny over the economics of an acquisition transaction and requirement for consideration
    in a transaction to be paid within stated time limits; and

    ●
    
    the
    requirement for mergers and acquisitions by foreign investors that raise “national defense and security” concerns and
    mergers and acquisitions through which foreign investors may acquire de facto control over domestic enterprises that raise “national
    security” concerns to be subject to strict review by the MOFCOM.

Complying
with these and other requirements could be time-consuming, and any required approval processes, including obtaining approval from the
MOFCOM or its local counterparts, may delay or inhibit our ability to complete such transactions, which could affect our ability to acquire
PRC-based businesses. A Business Combination we propose may not be able to be completed if the terms of the transaction do not satisfy
aspects of the approval process and may not be completed, even if approved, if they are not consummated within the time permitted by
the approvals granted.

In
addition, the PRC currently prohibits and/or restricts foreign ownership in certain “important industries,” including telecommunications,
food production and heavy equipment. There are uncertainties under certain regulations whether obtaining a majority interest through
contractual arrangements will comply with regulations prohibiting or restricting foreign ownership in certain industries. There is no
assurance that the PRC government will not apply restrictions in other industries. In addition, there can be restrictions on the foreign
ownership of businesses that are determined from time to time to be in “important industries” that may affect the national
economic security or those having “famous brand names” or “well-established brand names.” Subject to the review
and approval requirements of the relevant agencies and the various percentage ownership limitations that exist from time to time, acquisitions
involving foreign investors and parties in the various restricted categories of assets and industries may nonetheless sometimes be consummated
using contractual arrangements with permitted local parties. If we choose to effect