Company: MEGL
Filing Date: 2025-07-11
Form Type: F-1/A
Source: 0001641172-25-018709
Chunk: 26

Company: Magic Empire Global Ltd
Filing Date: 2025-07-11
Form: F-1/A
Chunk 26
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 and interpretations will be modified or promulgated. If the Revised Review Measures are adopted into law in the future and if any of our subsidiaries is deemed an “operator of critical information infrastructure” or a “data processor” controlling personal information of no less than one million users, the listing of our Class A ordinary shares on U.S. exchanges could be subject to CAC’s cybersecurity review. If we become subject to the CAC or any other governmental agency, we cannot assure you that we will be able to list our Class A ordinary shares on U.S. exchanges, or continue to offer securities to investors, which would materially affect the interest of the investors and cause significantly depreciation of the price of our Class A ordinary shares or render them worthless.

In addition, during the year ended December 31, 2024, we provided financial advisory and independent financial advisory services and compliance advisory services to eight clients whose principal operations were located in the Mainland China, accounting for approximately 18.8% of our total revenue, any modified or new laws and regulations of the PRC government may have significant impact to our clients whose principal operations were located in the Mainland China which will in turn adversely impact our revenue, results of operations and the value of our shares.

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Recent PCAOB Developments

Under the AHFCAA, which amended the HFCAA, our Class A ordinary shares may be prohibited from being traded on a national exchange if the PCAOB is unable to inspect our auditors for two consecutive years beginning in 2021. The delisting of our Class A ordinary shares, or the threat of their being delisted, may materially and adversely affect the value of your investment.

On December 16, 2021, the PCAOB issued a report on its determinations that it was unable to inspect or investigate completely PCAOB-registered public accounting firms headquartered in Mainland China and in Hong Kong, because of positions taken by PRC authorities in those jurisdictions. The PCAOB made its determinations pursuant to PCAOB Rule 6100, which provides a framework for how the PCAOB fulfills its responsibilities under the HFCAA. The report further listed in its Appendix A and Appendix B, Registered Public Accounting Firms Subject to the Mainland China Determination and Registered Public Accounting Firms Subject to the Hong Kong Determination, respectively.

Our auditor, Marcum Asia CPAs LLP, the independent registered public accounting firm that issues the audit reports included elsewhere in this prospectus, as auditors of companies that are traded publicly in the United