Company: RAYA
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001213900-25-070321
Chunk: 144

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-08-01
Form: 424B5
Chunk 144
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 and implementation of current and any future PRC laws
and regulations applicable to us. If the PRC government promulgates new laws and regulations that impose additional restrictions on our
operations, or tightens enforcements of existing or new laws or regulations, it has the authority, among other things, to levy fines,
confiscate income, revoke business licenses, and require us to discontinue our relevant business or impose restrictions on the affected
portion of our business. Any of these actions by the PRC government may have a material and adverse effect on our results of operations.
As a result, our business, reputation, value of our Class A ordinary shares, financial condition and results of operations may be materially
and adversely affected.

We may lose the ability to offer or continue to offer securities to investors and cause the value of such securities to significantly decline or be worthless if the Chinese government may exert more oversight and control over offerings that are conducted overseas and/or foreign investment in China-based issuers.

The recently issued Opinions on Strictly Cracking
Down on Illegal Securities Activities emphasized the need to strengthen the administration over illegal securities activities and the
supervision on listings by China-based companies in foreign countries, and proposed to take effective measures, such as promoting the
construction of relevant regulatory systems to deal with the risks and incidents faced by China-based companies listed in foreign countries,
and provided that the special provisions of the State Council on offering and listing by those companies in foreign countries limited
by shares will be revised and therefore the duties of domestic industry competent authorities and regulatory agencies will be clarified.
As these opinions were newly issued and there are no further explanations or detailed rules and regulations with respect to such opinions,
there are still uncertainties regarding the interpretation and implementation of such opinions. And new rules or regulations promulgated
in future could impose additional requirements on us.

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In addition, on July 10, 2021, the Cyberspace
Administration of China issued a revised draft of the Cybersecurity Review Measures for public comments, according to which, among others,
an “operator of critical information infrastructure” or a “data processor”, who has personal information of more
than one million users and is going to list in foreign countries, must report to the relevant cybersecurity review office for a cybersecurity
review. On December 28, 2021, the Cyberspace Administration of China jointly with the relevant authorities formally published Measures
for Cybersecurity Review (2021) which took effect on February 15