Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 16

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 3
Chunk 16
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and regulations. 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, our operation could be subjected to CAC’s
cybersecurity review in the future.

(ii)
Risk in relation to filling procedures and requirements under the Trial Administrative Measures

On
February 17, 2023, the CSRC released the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies,
or the Trial Measures, which came into effect on March 31, 2023. On the same date of the issuance of the Trial Measures, the CSRC circulated
No.1 to No.5 Supporting Guidance Rules, the Notes on the Trial Measures, the Notice on Administration Arrangements for the Filing of
Overseas Listings by Domestic Enterprises and the relevant CSRC Answers to Reporter Questions on the official website of the CSRC, or
collectively, the Guidance Rules and Notice. The Trial Measures, together with the Guidance Rules and Notice, reiterate the basic supervision
principles as reflected in the Draft Overseas Listing Regulations by providing substantially the same requirements for filings of overseas
offering and listing by domestic companies, yet made the following updates compared to the Draft Overseas Listing Regulations: (a) further
clarification of the circumstances prohibiting overseas issuance and listing; (b) further clarification of the standard of indirect overseas
listing under the principle of substance over form, and (c) adding more details of filing procedures and requirements by setting different
filing requirements for different types of overseas offering and listing. Under the Trial Measures and the Guidance Rules and Notice,
domestic companies that seek to offer or list securities overseas, both directly and indirectly, should fulfill the filing procedure
and report relevant information to the CSRC within three working days following its submission of initial public offerings or listing
application. The companies that have already been listed on overseas stock exchanges or have obtained the approval from overseas supervision
administrations or stock exchanges for its offering and listing and will complete their overseas offering and listing prior to September
30, 2023 are not required to make immediate filings for its listing yet need to make filings for subsequent offerings in accordance with
the Trial Measures. The companies that have already submitted applications for an initial public offering to overseas supervision administrations
prior to the effective date of the Trial Measures but have not yet obtained the approval from overseas supervision administrations or
stock exchanges for the offering and listing may arrange for the filing within