Company: APAD
Filing Date: 2025-06-30
Form Type: S-1/A
Source: 0001213900-25-059198
Chunk: 202

Company: AParadise Acquisition Corp.
Filing Date: 2025-06-30
Form: S-1/A
Chunk 202
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 acquisition in China. Our sponsor and its affiliate(s) as well as our Chief Executive Officer, Chief Financial Officer and Chairman, Mr. Claudius Tsang are located in or have significant ties to China, and we may seek to acquire a company that is based in China in an initial business combination. The uncertainties in the interpretation and enforcement of PRC laws, rules and regulations would apply to us if we were to acquire a company that is based in China regardless 116 of whether we have a VIE structure or direct ownership structure post -businesscombination. Because of such ties to China, we may be governed by PRC laws and regulations. PRC companies and variable interests entities are generally subject to laws and regulations applicable to foreign investments in China and, in particular, laws and regulations applicable to wholly foreign -ownedenterprises. The PRC legal system is based on statutes. Prior court decisions may be cited for reference but have limited precedential value. Since 1979, PRC legislation and regulations have significantly enhanced the protections afforded to various forms of foreign investments in China. However, China has not developed a fully integrated legal system and recently enacted laws and regulations may not sufficiently cover all aspects of economic activities in China. In particular, because these laws and regulations are relatively new, and because of the limited volume of published decisions and their nonbinding nature, the interpretation and enforcement of these laws and regulations involve uncertainties. In addition, the PRC legal system is based in part on government policies and internal rules (some of which are not published on a timely basis or at all) that may have a retroactive effect. As a result, we may not be aware of our violation of these policies and rules until sometime after the violation. In addition, any litigation in China may be protracted and result in substantial costs and diversion of resources and management attention. On March 15, 2019, the PRC National People’s Congress approved the Foreign Investment Law, which came into effect on January 1, 2020 and replaces the trio of existing laws regulating foreign investment in the PRC, namely, the Sino -ForeignEquity Joint Venture Enterprise Law, the Sino -ForeignCooperative Joint Venture Enterprise Law and the Wholly Foreign -InvestedEnterprise Law, together with their implementation rules and ancillary regulations and become the legal foundation for foreign investment in the PRC. Meanwhile, the Implementation Regulation of the Foreign Investment Law and the Measures for Reporting of Information on Foreign Investment came into effect as of January 1, 2020,