Company: ZDAN
Filing Date: 2025-01-10
Form Type: DRS/A
Source: 0001683168-25-000168
Chunk: 183

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-01-10
Form: DRS/A
Chunk 183
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 to the VIE. See “ Corporate History and Structure— The VIE Agreements” for a summary of the contractual arrangements and “Risk Factors — Risks Related to Our Corporate Structure” for certain risks related to the contractual arrangements.

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<div align='center'>REGULATION</div>

This section sets forth a summary of applicable
laws, rules, regulations, government and industry policies and requirements that have a significant impact on our operations and business
in China. This summary does not purport to be a complete description of all laws and regulations that apply to our business and operations.
Investors should note that the following summary is based on relevant laws and regulations in force as of the date of this prospectus,
which may be subject to change.

Our PRC counsel has further
advised us that a translated version of this prospectus will be submitted to the CSRC within three (3) business days after it is submitted
to the SEC. As such, this prospectus is subject to review by, and comments from, the CSRC.

Regulations Relating to Foreign Investment

Investment activities in
the People’s Republic of China, or the PRC, by foreign investors are principally governed by the Catalogue of Industries for Encouraging
Foreign Investment (2022 Edition), which was promulgated by the Ministry of Commerce, or the MOFCOM, and the National Development and
Reform Commission, or the NDRC, on October 26, 2022 and took effect on January 1, 2023, and the Special Administrative Measures
for Access of Foreign Investment (The Negative List) (2024 Edition), which was promulgated by the MOFCOM and the NDRC on September 6,
2024 and took effect on November 1, 2024, and together with the Foreign Investment Law, or the FIL and their respective implementation
rules and ancillary regulations. The Negative List sets out several restrictive measures in a unified manner, such as the requirements
on shareholding percentages and management, for the access of foreign investments in the industries listed in the Negative List and the
industries that are prohibited from foreign investment. Any industries not falling in the Negative List shall be administered under the
principle of equal treatment to domestic and foreign investment.

On March 15, 2019,
the National People’s Congress promulgated the Foreign Investment Law, or FIL, which has come into effect from January 1,
2020 and replaced the PRC Equity Joint