Company: LICN
Filing Date: 2025-01-29
Form Type: 424B5
Source: 0001213900-25-007741
Chunk: 138

Company: Lichen International Ltd
Filing Date: 2025-01-29
Form: 424B5
Chunk 138
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 service of process upon us or those persons inside mainland China. In addition, there
is uncertainty as to whether the courts of the Cayman Islands or the PRC would recognize or enforce judgments of U.S. courts against
us or such persons predicated upon the civil liability provisions of U.S. securities laws or those of any U.S. state.

The recognition and enforcement of foreign judgments
are provided for under the PRC Civil Procedures Law. PRC courts may recognize and enforce foreign judgments in accordance with the requirements
of the PRC Civil Procedures Law based either on treaties between China and the country where the judgment is made or on principles of
reciprocity between jurisdictions. China does not have any treaties or other forms of written arrangement with the U.S. that provide
for the reciprocal recognition and enforcement of foreign judgments. In addition, according to the PRC Civil Procedures Law, the
PRC courts will not enforce a foreign judgment against us or our directors and officers if they decide that the judgment violates the
basic principles of PRC laws or national sovereignty, security, or public interest. As a result, it is uncertain whether and on what basis
a PRC court would enforce a judgment rendered by a court in the U.S. See “Enforceability of Civil Liabilities” on page 56.

It may also be difficult for you or overseas regulators
to conduct investigations or collect evidence within China. For example, in China, there are significant legal and other obstacles to
obtaining information needed for shareholder investigations or litigation outside China or otherwise with respect to foreign entities.
Although the authorities in China may establish a regulatory cooperation mechanism with its counterparts of another country or region
to monitor and oversee cross-border securities activities, such regulatory cooperation with the securities regulatory authorities in the
U.S. may not be efficient in the absence of a 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. Article 177 further
provides that Chinese entities and individuals are not allowed to provide documents or materials related to securities business activities
to foreign agencies without prior consent from the securities regulatory authority of the PRC State Council and the competent departments
of the PRC State Council. While the detailed interpretation of or implementing of rules under Article 177 have to be promulgated,
the inability of an overseas securities