Company: ZDAN
Filing Date: 2025-01-10
Form Type: DRS/A
Source: 0001683168-25-000168
Chunk: 136

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-01-10
Form: DRS/A
Chunk 136
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 shares on behalf of Zerolimit Excellence Limited; (c) Jian Gang beneficially owns 100% of these
shares on behalf of Zerolimit Power Limited; and (d) Baifen Le, beneficially owns 100% of these shares on behalf of Zerolimit Virtue
Limited.

The VIE equity interest holders
include ZeroLimit Digital Technology Co., Ltd, Kai Hu, Jian Gang and Baifen Le, which hold 73%, 11%, 11% and 5% of the equity interests
in the VIE, respectively; ZeroLimit Digital Technology Co., Ltd equity interest holders include Guangqing Hu and Zerolimit Origin Technology
(Shenzhen) Co., Ltd, which hold 10% and 90% of the equity interests in ZeroLimit Digital Technology Co., Ltd, respectively; Zerolimit
Origin Technology (Shenzhen) Co., Ltd equity interest holders include Guangqing Hu and Kai Hu, who hold 90% and 10% of the equity interests
in the Zerolimit Origin Technology (Shenzhen) Co., Ltd, respectively.

Arrangements between Onshore and Offshore Entities

Contracts or arrangements
between the offshore and onshore companies are discussed below, including the manner in which the Company’s operates and the impact
on its economic rights and ability to control its subsidiaries.

On May 24, 2023, the Company
consummated a reorganization pursuant to which, WFOE, Zhenglian Shenzhen and Zhenglian Shenzhen’s shareholders entered into a series
of contractual arrangements. Such agreements are described under “Corporate History and Structure — The VIE Agreements”
as follows: (1) Zerolimit Cayman is a holding company with no business operations other than holding the shares in Zerolimit HK (2) Zerolimit
HK is a pass-through entity with no business operations other than holding equity interest in WFOE and (3) WFOE is exclusively engaged
in the business of managing the operations of Zhenglian Shenzhen. The Company controls Zhenglian Shenzhen through contractual agreements,
which are described under “Corporate History and Structure — The VIE Agreements.”

Pursuant to PRC laws, each
entity formed under PRC law shall have certain business scope registered at the Administration for Market Regulation or its local counterpart.
As such, WFOE’s business scope is to primarily engage in business development, technology service, technology consulting, intellectual
property service and