Company: RAYA
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001213900-25-070321
Chunk: 91

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-08-01
Form: 424B5
Chunk 91
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 future, including any decision not to continue to support
recent economic reforms and to return to a more centrally planned economy or regional or local variations in the implementation of economic
policies, could have a significant effect on economic conditions in China or particular regions thereof, and could require us to divest
ourselves of any interest we then hold in Chinese properties. See “Risk Factors — Risks Related to Doing Business in China
— Uncertainties with respect to the PRC legal system, including uncertainties regarding the enforcement of laws, and sudden or unexpected
changes in laws and regulations in China with little advance notice could adversely affect us and limit the legal protections available
to you and us” on page 16, “Any actions by the Chinese government to exert more oversight and control over offerings that
are conducted overseas and foreign investment in China-based issuers could significantly limit or completely hinder our ability to offer
or continue to offer our Class A ordinary shares to investors and cause the value of our Class A ordinary shares to significantly decline
or be worthless. 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” on page 19, and
“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” on page 24.

In particular, as substantially all of our operations
are conducted through the PRC subsidiaries, we are subject to certain legal and operational risks associated with our operations in China,
including those changes in the legal, political and economic policies of the Chinese government, the relations between China and the United
States, or Chinese or United States regulations may materially and adversely affect our business, financial condition and results of operations.
PRC laws and regulations governing our current business operations are sometimes vague and uncertain, and therefore, these risks could
result in a material change in our operations and/or the value of our ordinary shares or could significantly limit or completely hinder
our ability to offer or continue to offer securities to investors and cause the value of our ordinary shares to significantly decline
or be worthless. Recently, the PRC government initiated a series of regulatory actions and statements to regulate business operations
in China with little advance notice, including cracking down on illegal activities in the securities market,