Company: SOS
Filing Date: 2025-03-14
Form Type: F-3
Source: 0001213900-25-024134
Chunk: 44

Company: SOS Ltd
Filing Date: 2025-03-14
Form: F-3
Chunk 44
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 in China with little advance notice, including
cracking down on illegal activities in the securities market, enhancing supervision over China-based companies listed overseas, and adopting
new measures to extend the scope of cybersecurity reviews and new laws and regulations relating to data security. The PRC government may
impose new, stricter regulations or interpretations of existing regulations that would require additional expenditures and efforts on
our part to ensure our subsidiaries in mainland China and the VIEs’ compliance with such regulations or interpretations. As such,
our subsidiaries in mainland China and the VIEs may be subject to various government actions and regulatory interference in the provinces
in which they operate. They could be subject to regulation by various political and regulatory entities, including various local and municipal
agencies and government sub-divisions. They may incur increased costs necessary to comply with existing and newly adopted laws and regulations
or penalties for any failure to comply.

Furthermore, it is uncertain
when and whether we will be required to obtain permission from the PRC government to maintain our listing status on U.S. exchanges in
the future, and even when such permission is obtained, whether it will be later denied or rescinded. On December 24, 2021, the CSRC issued
the Provisions of the State Council on the Administration of Overseas Securities Offering and Listing by Domestic Companies (Draft for
Comments) and the Administrative Measures for the Filing of Overseas Securities Offering and Listing by Domestic Companies (Draft for
Comments) (collectively, the “Draft Overseas Listing Regulations”), which propose to require companies in mainland China and
their overseas special purpose vehicles that seek to offer and list in overseas markets to file with the CSRC and meet compliance rules
for their listing. As advised by our PRC counsel, under existing applicable PRC laws, regulations and regulatory rules, our company, our
WFOEs, the VIEs and their subsidiaries, are not required to obtain permission from the CSRC in connection with any such offering. In addition,
none of them has received any notice of denial of permission to list on a U.S. exchange from any Chinese authorities. However, we cannot
assure you that the relevant PRC government agencies, including the CSRC, would reach the same conclusion as our PRC counsel does. If
the CSRC or any other PRC regulatory body subsequently determines that we need to file with the CSRC or obtain the CSRC’s approval
to maintain our listing status on U.S. exchanges or for the offering of