Company: RAYA
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001213900-25-070321
Chunk: 95

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-08-01
Form: 424B5
Chunk 95
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securities might significantly decline or be worthless, by existing or future laws and regulations relating to its business or industry
or by intervene or interruption by PRC governmental authorities, if we or our subsidiaries (i) do not receive or maintain such permissions
or approvals, (ii) inadvertently conclude that such permissions or approvals are not required, (iii) applicable laws, regulations, or
interpretations change and we are required to obtain such permissions or approvals in the future, or (iv) any intervention or interruption
by PRC governmental with little advance notice. See “Risk Factors — Risks Related to Doing Business in China”
beginning on page 16 this prospectus for a discussion of these legal and operational risks and information that should be considered before
making a decision to purchase our Class A ordinary shares.

In addition, since 2021, the Chinese government
has strengthened its anti-monopoly supervision, mainly in three aspects: (1) establishing the National Anti-Monopoly Bureau; (2) revising
and promulgating anti-monopoly laws and regulations, including: the Anti-Monopoly Law (draft Amendment published on October 23, 2021 for
public opinions), the anti-monopoly guidelines for various industries, and the detailed Rules for the Implementation of the Fair Competition
Review System; and (3) expanding the anti-monopoly law enforcement targeting Internet companies and large enterprises. As of the date
of this prospectus, the Chinese government’s recent statements and regulatory actions related to anti-monopoly concerns have not
impacted our ability to conduct business, accept foreign investments, or list on a U.S. or other foreign exchange because neither the
Company nor its PRC subsidiaries engage in monopolistic behaviors that are subject to these statements or regulatory actions.

Pursuant to the Holding Foreign Companies Accountable
Act, or the HFCAA, if the Public Company Accounting Oversight Board, or the PCAOB, is unable to inspect an issuer’s auditors for
three consecutive years, the issuer’s securities are prohibited to trade on a U.S. stock exchange. The PCAOB issued a Determination
Report on December 16, 2021 which found that the PCAOB is unable to inspect or investigate completely registered public accounting firms
headquartered in: (1) mainland China of the People’s Republic of China because of a position taken by one or more authorities in
mainland China; and (2) Hong Kong, a Special Administrative Region and dependency of the PRC, because of a position