Company: ZDAN
Filing Date: 2025-06-30
Form Type: F-1
Source: 0001683168-25-004840
Chunk: 104

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-06-30
Form: F-1
Chunk 104
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 the
authorities in China may establish a regulatory cooperation mechanism with the securities regulatory authorities of another country or
region to implement cross-border supervision and administration, such cooperation with the securities regulatory authorities in the United
States may not be efficient in the absence of mutual and practical cooperation mechanism. Furthermore, according to Article 177
of the PRC Securities Law, or Article 177, which became effective in March 2020, no overseas securities regulator is allowed to
directly conduct investigations or evidence collection activities within the territory of the PRC. While detailed interpretation of or
implementation rules under Article 177 have yet to be promulgated, the inability for an overseas securities regulator to directly
conduct investigations or evidence collection activities within China may further increase difficulties faced by you in protecting your
interests. See also “Risk Factors — Risks related to this Offering and the Ordinary Shares — You may face difficulties in protecting your interests, and your ability to protect your rights through U.S. courts may be limited, because we are incorporated under Cayman Islands law” for risks associated with investing in us as a Cayman Islands company.”

The M&A Rules and certain other PRC regulations establish complex procedures for some acquisitions of Chinese companies by foreign investors, which could make it more difficult for us to pursue growth through acquisitions in China.

Among other things, the
M&A Rules adopted by six PRC regulatory agencies in 2006 and amended in 2009, established additional procedures and requirements
that could make merger and acquisition activities by foreign investors more time consuming and complex. Such regulation requires, among
other things, that the Ministry of Commerce be notified in advance of any change-of-control transaction in which a foreign investor takes
control of a PRC domestic enterprise or a foreign company with substantial PRC operations, if certain thresholds under the Provisions
on Thresholds for Prior Notification of Concentrations of Undertakings, issued by the State Council in 2008, are triggered. Moreover,
the Anti-Monopoly Law promulgated by the Standing Committee of National People’s Congress, which became effective in 2008, requires
that transactions which are deemed concentrations and involve parties with specified turnover thresholds must be cleared by State Administration
for Market Regulation, or the SAMR, the successive authority of MOFCOM, before they can be completed. In addition, the security review
rules issued by the State Council that became effective in September 2011 specify that mergers and acquisitions by foreign
investors that raise “national defense and