Company: CAAS
Filing Date: 2025-07-25
Form Type: F-4/A
Source: 0001104659-25-070492
Chunk: 96

Company: China Automotive Systems, Inc.
Filing Date: 2025-07-25
Form: F-4/A
Chunk 96
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 former regulatory regime for overseas offering and listing of PRC domestic companies’ securities and regulate both
direct and indirect overseas offering and listing of PRC domestic companies’ securities by adopting a filing-based regulatory regime.
According to the Overseas Listing Trial Measures, PRC domestic companies that seek to offer and list securities in overseas markets, either
in direct or indirect means, are required to fulfill the filing procedure with the CSRC and report relevant information. The Overseas
Listing Trial Measures provides that an overseas listing or offering is explicitly prohibited, if any of the following: (i) such
securities offering and listing is explicitly prohibited by provisions in laws, administrative regulations and relevant state rules; (ii) the
intended securities offering and listing may endanger national security as reviewed and determined by competent authorities under the
State Council in accordance with law; (iii) the domestic company intending to make the securities offering and listing, or its controlling
shareholder(s) and the actual controller, have committed relevant crimes such as corruption, bribery, embezzlement, misappropriation
of property or undermining the order of the socialist market economy during the latest three years; (iv) the domestic company intending
to make the securities offering and listing is currently under investigations for suspicion of criminal offenses or major violations of
laws and regulations, and no conclusion has yet been made thereof; or (v) there are material ownership disputes over equity held
by the domestic company’s controlling shareholder(s) or by other shareholder(s) that are controlled by the controlling
shareholder(s) and/or actual controller.

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The Overseas Listing Trial Measures also provides
that if the issuer both meets the following criteria, the overseas securities offering and listing conducted by such issuer will be deemed
as indirect overseas offering by PRC domestic companies: (i) 50% or more of any of the issuer’s operating revenue, total profit,
total assets or net assets as documented in its audited consolidated financial statements for the most recent fiscal year is accounted
for by domestic companies; and (ii) the main parts of the issuer’s business activities are conducted in mainland China, or
its main place(s) of business are located in mainland China, or the majority of senior management staff in charge of its business
operations and management are PRC citizens or have their usual place(s) of residence located in mainland China. Where an issuer submits
an application for initial public offering to competent overseas regulators, such issuer must file with the CSRC