Company: RAYA
Filing Date: 2025-07-28
Form Type: 424B5
Source: 0001213900-25-067907
Chunk: 39

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-07-28
Form: 424B5
Chunk 39
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 and replace the former Measures for Cybersecurity Review (2020). Measures for Cybersecurity Review (2021) stipulates that operators
of critical information infrastructure purchasing network products and services, and online platform operator (together with the operators
of critical information infrastructure, the “Operators”) carrying out data processing activities that affect or may affect
national security, shall conduct a cybersecurity review, any online platform operator who controls more than one million users’
personal information must go through a cybersecurity review by the cybersecurity review office if it seeks to be listed in a foreign
country. Since we are not an Operator, nor do we control more than one million users’ personal information, we would not be required
to apply for a cybersecurity review under the Measures for Cybersecurity Review (2021).

<div align='center'>S-12</div>

On February 17, 2023, the China Securities Regulatory
Commission, or the CSRC, announced the Circular on the Administrative Arrangements for Filing of Securities Offering and Listing by Domestic
Companies, or the Circular, and released a set of new regulations which consists of the Trial Administrative Measures of Overseas Securities
Offering and Listing by Domestic Companies, or the Trial Measures, and five supporting guidelines. On the same date, the CSRC also released
the Notice on the Arrangements for the Filing Management of Overseas Listing of Domestic Companies, or the Notice. The Trial Measures
came into effect on March 31, 2023. The Trial Measures refine the regulatory system by subjecting both direct and indirect overseas offering
and listing activities to the CSRC filing-based administration. Requirements for filing entities, time points and procedures are specified.
A PRC domestic company that seeks to offer and list securities in overseas markets shall fulfill the filing procedure with the CSRC per
the requirements of the Trial Measures. Where a PRC domestic company seeks to indirectly offer and list securities in overseas markets,
the issuer shall designate a major domestic operating entity, which shall, as the domestic responsible entity, file with the CSRC. The
Trial Measures also lay out requirements for the reporting of material events. Breaches of the Trial Measures, such as offering and listing
securities overseas without fulfilling the filing procedures, shall bear legal liabilities, including a fine between RMB 1.0 million (approximately
$150,000) and RMB 10.0 million (approximately $1.5 million), and the Trial Measures increase the cost for offenders by enforcing accountability
with administrative penalties