Company: RAYA
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001213900-25-070321
Chunk: 108

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-08-01
Form: 424B5
Chunk 108
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 income tax break and certain deductions related to intangible assets, such as
obtaining patents in the R&D process. Additionally, our research and patents in the power solution space have brought us local recognition;
we were awarded certificates by the provincial and city government that identifies us as a Zhejiang Science and Technology Enterprise,
and a Wenzhou Science and Technology Innovation Enterprise. These certificates entitle us to certain preferential tax treatment and sometimes
grants from the government to aid R&D efforts in furtherance of the business. Furthermore, we are a supplier for many international
companies, including Einhell Germany AG, Canadian Tire Corporation Limited, Steren Electronics International, LLC, etc.

Zhejiang Leiya’s products are customized
and built to order, or BOT. The BOT business model maximizes our flexibility in production scheduling, material procurement, and delivery
to meet our customers’ unique demands. We have adopted a multi-step, full-service system to ensure quality and client satisfaction.
Customers can choose from within our product portfolio and communicate specified requirements to the sales department. Our technical department
will evaluate the request’s feasibility and coordinate with the customer to make adjustments. The production department will create
samples that will undergo inspection by the quality inspection department for quality and material warranty. The sales department
will submit the prototype, inspection report, quality assurance, and quote to the customer for verification. After confirmation by the
customer, our procurement department will purchase the raw materials, and the production department will fulfill the order. Finally, our
inspection department will inspect and issue a report affirming the quality before the production department pack and deliver the final
product to the customer.

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Recent Development</div>

On December 19, 2022, the Company completed its
initial public offering. In this offering, the Company issued 3,000,000 Class A ordinary shares at a price of US$4.00 per share. The Company
received gross proceeds in the amount of US$12 million before deducting any underwriting discounts or expenses. The Class A ordinary shares
began trading on December 14, 2022 on the Nasdaq Capital Market under the ticker symbol “RAYA.”

On October 12, 2023, the Company notified its
independent registered public accounting firm, TPS Thayer its decision to dismiss TPS Thayer as the Company’s auditor. On the same
day, the Audit Committee and the Board of Directors of the Company appointed Fortune CPA Inc as