Company: CAAS
Filing Date: 2025-08-04
Form Type: 424B3
Source: 0001104659-25-073486
Chunk: 71

Company: China Automotive Systems, Inc.
Filing Date: 2025-08-04
Form: 424B3
Chunk 71
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idiary Genesis, which owns interests in eight Sino-joint ventures and seven wholly owned subsidiaries in the PRC. Our operations
in China are governed by PRC laws and regulations. As of the date of this proxy statement/prospectus, these entities have obtained the
requisite licenses and permits from the PRC government authorities that are material for their business operations, including, among
others, certain business licenses, approvals for the establishment of enterprises with foreign investment, approvals for overseas direct
investment and environmental and occupational safety and health approvals. However, given the uncertainties of interpretation and implementation
of relevant laws and regulations and the enforcement practice by relevant government authorities, we may be required to obtain additional
licenses, permits, filings or approvals for the functions and services of our platform in the future.

On February 17, 2023, the CSRC promulgated
the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies, or the Trial Measures, which came
into effect on March 31, 2023. On the same day, the CSRC also published a series of guidance and Q&As in connection with the
implementation of the Trial Measures. The Trial Measures established (i) a list outlining the circumstances where a PRC domestic
company is prohibited from offering and listing securities overseas (the “Trial Measures Negative List”) and (ii) a
new filing-based regime to regulate overseas offerings and listings by PRC domestic companies. According to the Trial Measures, in connection
with an overseas offering of securities, including shares, depository receipts, corporate bonds convertible into shares and other equity
securities and listing by a PRC domestic company, either in a direct or indirect manner, the issuer must file certain documents with
the CSRC (the “Trial Measures Filing Obligations”). An indirect offering and listing is determined by a set of quantifiable
standards. For example, any overseas offering and listing by an issuer that meets both of the following standards will be deemed to be
indirect: (i) 50% or more 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 accounting year is accounted for by PRC domestic companies, and (ii) the
main parts of the issuer’s business activities are conducted in mainland China, or its main places of business are located in mainland
China, or the senior managers in charge of its business operation and management are mostly Chinese citizens or