Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 309

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1A
Chunk 309
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 taxation and other laws that affect
our combined company’s ability to operate its business.

51

The PRC’s economic, political and social conditions, as well
as sudden or unexpected changes in any government policies, laws and regulations, could have a material adverse effect on our business
or business combination. Specifically, the PRC government may intervene or influence our search for a target company for an initial business
combination at any time, which could result in a material change in our operations and/or the value of the securities we are registering
for sale.

Although the PRC’s economy has been transitioning from a planned
economy to a more market-oriented economy since the late 1970s, the PRC government continues to play a significant role in regulating
industry development by imposing industrial policies. The PRC government also exercises significant control over the PRC’s economic
growth through allocating resources, controlling the incurrence and payment of foreign currency-denominated obligations, setting monetary
policy and providing preferential treatment to particular industries or companies. Changes in any of these policies, laws and regulations
could adversely affect the economy in the PRC and could have a material adverse effect on our business, our searching activities or business
combination.

The PRC government has implemented various measures to encourage foreign
investment and sustainable economic growth and to guide the allocation of financial and other resources. However, we cannot assure you
that the PRC government will not repeal or alter these measures or introduce new measures that will have a negative effect on our business,
including our officers’ and directors’ searching activities, and business combination. China’s social and political
conditions may also change and become unstable. Any sudden changes to China’s political system or the occurrence of widespread social
unrest could have a material adverse effect on our business, including our officers’ and directors’ searching activities,
and business combination.

The PRC government has significant oversight and discretion over the
conduct of a PRC company’s business and may intervene with or influence its operations as the government deems appropriate to further
regulatory, political and societal goals. The PRC government has recently published new policies that significantly affected certain industries
such as the education and internet industries, and we cannot rule out the possibility that it will in the future release regulations or
policies regarding any industry that could further limit our pool of candidate. Furthermore, the PRC government has also recently indicated
an intent to exert more oversight and control over securities offerings and other capital markets activities that are conducted overseas
and foreign investment in