Company: GVH
Filing Date: 2025-06-10
Form Type: F-1/A
Source: 0001213900-25-052766
Chunk: 33

Company: Globavend Holdings Ltd
Filing Date: 2025-06-10
Form: F-1/A
Chunk 33
---
 law enforcement and judicial cooperation, to enhance supervision over China-based companies listed
overseas, and to establish and improve the system of extraterritorial application of the PRC securities laws. On July 10, 2021, the
CAC issued a revised draft of the Measures for Cybersecurity Review for public comments (the “Revised Draft”), which required
that, in addition to “operators of critical information infrastructure,” any “data processor” controlling personal
information of no less than one million users which seeks to list in a foreign stock exchange should also be subject to cybersecurity
review, and further elaborated the factors to be considered when assessing the national security risks of the relevant activities.

On December 24, 2021,
the CSRC released the Administrative Provisions of the State Council Regarding the Overseas Issuance and Listing of Securities by Domestic
Enterprises (Draft for Comments) (the “Draft Administrative Provisions”) and the Measures for the Overseas Issuance of Securities
and Listing Record-Filings by Domestic Enterprises (Draft for Comments) (together with the Draft Administrative Provisions, the “Draft
Rules Regarding Overseas Listing”). The Draft Rules Regarding Overseas Listing lays out the filing regulation arrangements for both
direct and indirect overseas listings and clarifies the determination criteria for indirect overseas listings in overseas markets. Among
other things, if a domestic enterprise intends to indirectly offer and list securities in an overseas market, the record-filing obligation
is with a major operating entity incorporated in the PRC, and such filing obligation shall be completed within three working days
after the overseas listing application is submitted. The required filing materials for an IPO and listing shall include, but not be limited
to regulatory opinions, record filing, approval, other documents issued by competent regulatory authorities of relevant industries (if
applicable), and security assessment opinions issued by relevant regulatory authorities (if applicable). On December 27, 2021, the
National Development and Reform Commission (“NDRC”) and the Ministry of Commerce jointly issued the Special Administrative
Measures for Entry of Foreign Investment (Negative List) (2021 Version) (“Negative List”), which became effective and replaced
the previous version. Pursuant to the Negative List, if a PRC company, which engages in any business where foreign investment is prohibited
under the Negative List, or prohibited businesses seeks an overseas offering or listing, it must obtain the approval from competent governmental
authorities. Based on a set of Q&A published on the NDRC