Company: RAYA
Filing Date: 2025-07-28
Form Type: 424B5
Source: 0001213900-25-067907
Chunk: 140

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-07-28
Form: 424B5
Chunk 140
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 Such unpredictability
towards our contractual, property (including intellectual property) and procedural rights could adversely affect our business and impede
our ability to continue our operations.

These government involvements have been instrumental
in China’s significant growth in the past 30 years. In response to the recent global and Chinese economic downturn, the PRC government
has adopted policy measures aimed at stimulating the economic growth in China. If the PRC government’s current or future policies
fail to help the Chinese economy achieve further growth or if any aspect of the PRC government’s policies limits the growth of our
industry or otherwise negatively affects our business, our growth rate or strategy, our results of operations could be adversely affected
as a result.

Changes in China’s economic, political or social conditions or government policies could have a material adverse effect on our business and results of operations.

All of our operations are located in China. Accordingly,
our business, prospects, financial condition and results of operations may be influenced to a significant degree by political, economic
and social conditions in China generally and by continued economic growth in China as a whole.

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The Chinese economy differs from the economies
of most developed countries in many respects, including the amount of government involvement, level of development, growth rate, control
of foreign exchange and allocation of resources. Although the Chinese government has implemented measures emphasizing the utilization
of market forces for economic reform, the reduction of state ownership of productive assets and the establishment of improved corporate
governance in business enterprises, a substantial portion of productive assets in China is still owned by the government. In addition,
the Chinese government continues to play a significant role in regulating industry development by imposing industrial policies. The Chinese
government also exercises significant control over China’s economic growth through allocating resources, controlling payment of
foreign currency-denominated obligations, setting monetary policy, and providing preferential treatment to particular industries or companies.

While the Chinese economy has experienced significant
growth over the past decades, growth has been uneven, both geographically and among various sectors of the economy. The Chinese government
has implemented various measures to encourage economic growth and guide the allocation of resources. Some of these measures may benefit
the overall Chinese economy, but may have a negative effect on us. For example, our financial condition and results of operations may
be adversely affected by government control over capital investments or changes in tax regulations. In addition, in the past the Chinese
government has implemented certain measures, including interest rate increases, to control the