Company: RAYA
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001213900-25-070321
Chunk: 71

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-08-01
Form: 424B5
Chunk 71
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 of persuasive authority in the Cayman Islands, the Cayman Islands courts
can be expected to follow and apply the common law principles (namely the rule in Foss v. Harbottle and the exceptions thereto)
so that a non-controlling shareholder may be permitted to commence a class action against or derivative actions in the name of the company
to challenge:

| (a) | an act which is illegal or ultra vires with respect to the company and is therefore incapable of ratification by the shareholders; |

| (b) | an act which, although not ultra vires, requires authorization by a qualified (or special) majority (that is, more than a simple majority) which has not been obtained; and |

| (c) | an act which constitutes a “fraud on the minority” where the wrongdoers are themselves in control of the company. |

Indemnification of Directors and Executive Officers and Limitation of Liability

The Cayman Islands law does not limit the extent
to which a company’s articles of association may provide for indemnification of officers and directors, except to the extent any
such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil
fraud or the consequences of committing a crime. Our memorandum and articles of association provides that every director, alternate director
or officer shall be indemnified out of the assets of the company against any liability incurred by him as a result of any act or failure
to act in carrying out his functions other than such liability (if any) that he may incur by his own actual fraud or wilful default. No
such director, alternate director or officer shall be liable to the Company for any loss or damage in carrying out his functions unless
that liability arises through the actual fraud or wilful default of such director or officer.

Expenses, including legal fees, incurred by a
director, alternate director or officer, or former director, alternate director or officer in defending any legal, administrative or investigative
proceedings may be paid by the Company in advance of the final disposition of such proceedings upon receipt of an undertaking by such
party to repay the amount if it shall ultimately be determined that such director, alternate director or officer is not entitled to be
indemnified by our company and upon such terms and conditions, if any, as the Company deems appropriate.

<div align='center'>S-34</div>

This standard of conduct is generally the same
as