Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 184

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 1
Chunk 184
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23, 2021 for public opinions), the anti-monopoly guidelines for various industries, and the detailed Rules for the Implementation
of the Fair Competition Review System; and (3) expanding the anti-monopoly law enforcement targeting Internet companies and large enterprises.
As of the date of this report, the Chinese government’s recent statements and regulatory actions related to anti-monopoly concerns
have not impacted our ability to conduct business, accept foreign investments, or list on a U.S. or other foreign exchange because neither
the Company nor its PRC operating entities engage in monopolistic behaviors that are subject to these statements or regulatory actions.

On
November 14, 2021, the CAC released the Regulations on the Network Data Security Management (Draft for Comments), or the Data Security
Management Regulations Draft, to solicit public opinion and comments till December 13, 2021, which has not been promulgated as of the
date of this report. Pursuant to the Data Security Management Regulations Draft, data processors holding more than one million users/users’
individual information shall be subject to cybersecurity review before listing abroad. Data processing activities refers to activities
such as the collection, retention, use, processing, transmission, provision, disclosure, or deletion of data. According to the latest
amended Cybersecurity Review Measures, which was promulgated on November 16, 2021 and became effective on February 15, 2022, an online
platform operator holding more than one million users/users’ individual information shall be subject to cybersecurity review before
listing abroad.

As
of the date of this report, CIMG and its subsidiaries have not received any notice from any authorities requiring the PRC subsidiaries
to go through cybersecurity review or network data security review by the CAC. Given that CIMG and its subsidiaries do not possess personal
data of at least one million individual clients and do not collect data that affects or may affect national security in their business
operations as of the date of this report and do not anticipate that they will be collecting over one million users’ personal information
or data that affects or may affect national security in the near future. There remains uncertainty, however, as to how the Cybersecurity
Review Measures and the Security Administration Draft will be interpreted or implemented and whether the PRC regulatory agencies, including
the CAC, may adopt new laws, regulations, rules, or detailed implementation and interpretation related to the Cybersecurity Review Measures
and the Security Administration Draft. If any such new laws, regulations, rules,