Company: ABLV
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001213900-25-034677
Chunk: 62

Company: Able View Global Inc.
Filing Date: 2025-04-23
Form: 20-F
Item: Item 3
Chunk 62
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 from June 1, 2015. SAFE Circular 19
has made certain adjustments to some regulatory requirements on the settlement of foreign exchange capital of foreign-invested enterprises,
and some foreign exchange restrictions under Circular 142 are lifted. Under SAFE Circular 19, the settlement of foreign exchange by FIEs
shall be governed by the policy of foreign exchange settlement at will. In June 2016, SAFE promulgated the Circular on Reforming
and Regulating Policies on the Control over Foreign Exchange Settlement of Capital Accounts, or SAFE Circular 16, which removed certain
restrictions previously provided under several SAFE circulars in respect of conversion by an FIE of foreign currency registered capital
into RMB and use of such RMB capital. However, SAFE Circular 19 and SAFE Circular 16 also reiterate that the settlement of foreign exchange
shall only be used for purposes within the business scope of the FIEs. On October 23, 2019, the SAFE issued the Circular on Further
Promoting Cross-border Trade and Investment Facilitation, or SAFE Circular 28. Among others, SAFE Circular 28 relaxes prior restrictions
and allows foreign-invested enterprises whose approved business scope does not include equity investments to use their capital funds obtained
from foreign exchange settlement to make domestic equity investments in China, provided that such investments do not violate the Negative
List and the target investment projects are genuine and in compliance with the laws.

In light of the various requirements imposed by
PRC regulations on loans to and direct investment in PRC entities by offshore holding companies, including SAFE Circulars referred to
above, we cannot assure you that we will be able to complete the necessary government registrations or filings on a timely basis, if at
all, with respect to future loans by us to our PRC Operating Entities or additional capital contributions by us to our PRC Operating Entities,
and conversion of such loans or capital contributions into RMB. If we fail to complete such registrations or filings, our ability
to provide loans or capital contributions to our PRC Operating Entities in a timely manner may be negatively affected, which could materially
and adversely affect our liquidity and our ability to fund and expand our business.

We may be treated as a resident enterprise
for PRC tax purposes under the EIT Law, and we may therefore be subject to PRC income tax on our global income.

Under the PRC Enterprise Income Tax Law, or
theEIT Law, and its implementing rules, enterprises established under the laws of jurisdictions