Company: SOS
Filing Date: 2025-03-14
Form Type: F-3
Source: 0001213900-25-024134
Chunk: 5

Company: SOS Ltd
Filing Date: 2025-03-14
Form: F-3
Chunk 5
---
 filings or other administrative requirements on offshore offerings, anti-monopoly regulatory actions, and
oversight on cybersecurity and data privacy. The PRC government’s authority in regulating our operations in China and its management
on offerings conducted overseas by, and foreign investment in, China-based issuers could limit our and our PRC subsidiaries’ ability
to conduct business and/or limit or hinder our ability to offer or continue to offer securities to investors, accept foreign investments
or list on a United States or other foreign exchange, or cause the value of our securities to significantly decline or be worthless. For
more details, see “Risk Factors—Risks Related to Doing Business in China.”

On February 17, 2023, the CSRC promulgated the
Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies (the “Trial Measures”) and
five supporting guidelines, which went into effect on March 31, 2023. The Trial Measures regulate both direct and indirect overseas offering
and listing of PRC domestic companies’ securities by adopting a filing-based regulatory regime. Based on the Trial Measures and
the clarification issued by at a press conference held by CSRC, and as advised by our PRC counsel, Hebei Changjun Law Firm (“Hebei
Changjun”), based on their understanding of the Trial Measures, that the Company will file with the CSRC notice of its offering
of ADSs representing its Class A ordinary shares and the Warrants. The Trial Measures require the filing with the CSRC of the overseas
offering and listing plans and the follow-on offering plans by PRC domestic companies under certain conditions, and the filing with the
CSRC by their underwriters associated with such companies’ overseas securities offering and listing. Companies, like us, that are
already listed overseas as of March 31, 2023 are not required to make an immediate filing with the CSRC until a subsequent offering, in
which case a filing should be made with the CSRC within three business days after the offering is completed. In the opinion of our PRC
legal counsel, Hebei Changjun Law Firm, the Selling Shareholders’ resale of the Resale Shares as described hereunder does not constitute
a “subsequent offering” under the CSRC rules and hence we are not required to complete the filing procedures with CSRC for
the Selling Shareholders’ resale. In addition, if a domestic company fails to complete required filing procedures or conceals
any material fact or falsifies any major content