Company: ABLV
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001213900-25-034677
Chunk: 66

Company: Able View Global Inc.
Filing Date: 2025-04-23
Form: 20-F
Item: Item 3
Chunk 66
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 December 1, 2017. Bulletin 37 further clarifies the practice and procedure
of the withholding of non-resident enterprise income tax. Pursuant to Bulletin 7 and Bulletin 37, both the transferor and the transferee
may be subject to penalties under PRC tax laws if the transferee fails to withhold the taxes and the transferor fails to pay the taxes.

We face uncertainties as to the reporting and
other implications of certain past and future transactions where PRC taxable assets are involved, such as offshore restructuring, sale
of the shares in our offshore subsidiaries or investments. We may be subject to filing obligations or taxed if we are transferor in such
transactions, and may be subject to withholding obligations if we are transferee in such transactions, under Bulletin 7 and Bulletin 37.
For transfer of shares in our company by investors that are non-PRC resident enterprises, our PRC subsidiaries may be requested to assist
in the filing. As a result, we may be required to expend valuable resources to comply with Bulletin 7 and Bulletin 37 or to request the
relevant transferors from whom we purchase taxable assets to comply with these circulars, or to establish that our company should not
be taxed under these circulars, or to pay tax pursuant to these circulars, which may have a material adverse effect on our financial condition
and results of operations.

The Holding Foreign Companies Accountable
Act, or the HFCAA, and the related regulations continue to evolve. Further implementations and interpretations of or amendments to the
HFCAA or the related regulations, or a PCAOB determination of its lack of sufficient access to inspect our auditor, might pose regulatory
risks to and impose restrictions on us because of our operations in mainland China.

On April 21, 2020, SEC released a joint statement
highlighting the risks associated with investing in companies based in or have substantial operations in emerging markets including China.
The joint statement emphasized the risks associated with lack of access for the PCAOB to inspect auditors and audit work papers in China
and higher risks of fraud in emerging markets. On May 18, 2020, Nasdaq filed three proposals with the SEC to (i) apply minimum
offering size requirement for companies primarily operating in “ Restrictive Market”, (ii) adopt a new requirement relating
to the qualification of management or board of director for Restrictive Market companies, and (iii) apply additional and more stringent
criteria to an applicant or listed company based on