Company: CAAS
Filing Date: 2025-08-04
Form Type: 424B3
Source: 0001104659-25-073486
Chunk: 157

Company: China Automotive Systems, Inc.
Filing Date: 2025-08-04
Form: 424B3
Chunk 157
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 shall be paid or payable to the holder
of such CAAS Cayman Ordinary Share;

(d)CAAS
Cayman shall assume all of CAAS’ rights and obligations under the stock-based benefit and compensation plan and agreements relating
thereto providing for the grant or award of restricted stock, stock units, stock options, stock appreciation rights, performance shares,
performance units, dividend equivalent rights and share awards to the directors, officers, employees and consultants of CAAS and its
affiliates (the “”) in accordance with Article III. To the extent the Stock Plan provides for awards
of incentive stock options pursuant to Section 422 of the Code, approval of such plan by CAAS, as the sole shareholder of CAAS
Cayman, shall be deemed, as of the Effective Time, to constitute approval of the members of CAAS Cayman for purposes of Section 422(b) of
the Code; and

(e)all
outstanding securities of CAAS, including but not limited to convertible bonds, debentures, warrants and options, that may be convertible
into or exercisable into CAAS Common Stock shall remain outstanding; , that all references therein to CAAS Common Stock
shall be deemed to refer to CAAS Cayman Ordinary Shares, and CAAS Cayman shall assume all of CAAS’ rights and obligations under
such securities.

Section 2.02.

(a)At
the Effective Time, each issued and outstanding share of CAAS Common Stock held in uncertificated, book entry form will be exchanged
for one CAAS Cayman Ordinary Share in accordance with Section 2.01(a) without further act or deed by the holder thereof,
and record of such ownership shall be kept in uncertificated, book entry form in CAAS Cayman’s register of members by CAAS Cayman’s
transfer agent.

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(b)At
the Effective Time, each issued and outstanding share of CAAS Common Stock held in certificated form will be converted into the right
to receive one CAAS Cayman Ordinary Share in accordance with Sections 2.01(a) and (b) without further act or deed by the
holder thereof, and the holder thereof will cease to be, and will have no rights as, a stockholder of CAAS. Following the consummation
of the Merger, CAAS’ exchange agent will send a letter of transmittal to each such holder, explaining the procedure for surrendering
such