Company: STAK
Filing Date: 2025-11-14
Form Type: F-1
Source: 0001493152-25-023494
Chunk: 21

Company: STAK Inc.
Filing Date: 2025-11-14
Form: F-1
Chunk 21
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 such approval or clearance ” of our most recent Annual Report on Form 20-F,
which is incorporated by reference in this prospectus.

| 13 |

Impact of the COVID-19 Pandemic on Our Operations and Financial Performance

The COVID-19 pandemic significantly impacted our business operations in 2021, 2022, and early 2023. The Chinese government’s implementation of various governmental measures, including lockdowns, closures, quarantines, and travel bans, had adverse effects on our product demand and manufacturing capacity. The COVID-19 sporadic outbreaks in some provinces, coupled with the normalization of the dynamic COVID-Zero policy, continued to affect our business, including aspects such as business travel, marketing, and customer service, throughout 2020 and 2022. Furthermore, the dynamic COVID-Zero policy implemented during the Winter Olympic Games and the outbreak of the epidemic in Shanghai in the first half of 2022 severely impacted our factories’ manufacturing capabilities. It is important to note that the WHO declared that COVID-19 was no longer a “global health emergency” and mainland China has shifted its approach and abandoned the dynamic COVID-Zero policy. These risks include potential disruptions to logistics, supply chains, production, delivery, as well as the overall development of our business activities.

See “ Item 3. Key Information—3.D. Risk Factors—Risks Related to Our Business and Industry—Pandemics and epidemics, natural disasters, terrorist activities, political unrest, and other outbreaks could disrupt our operations, which could materially and adversely affect our business, financial condition, and results of operations ” of our most recent Annual Report on Form 20-F, which is incorporated by reference in this prospectus.

Implications of Being an Emerging Growth Company

As a company with less than $1.235 billion in revenue during our last fiscal year, we qualify as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, or the “JOBS Act.” An “emerging growth company” may take advantage of reduced reporting requirements that are otherwise applicable to larger public companies. In particular, as an emerging growth company, we:

| ● | are                                                                                                                                   
 not required to provide a detailed narrative disclosure discussing our compensation principles, objectives and elements and analyzing 
 how those elements fit with our principles and objectives, which is commonly referred to as “compensation discussion and analysis”;   |
| ● | are                                                                                                                                   
 not required to obtain an attestation and report from our auditors