Company: ZDAN
Filing Date: 2025-01-10
Form Type: DRS/A
Source: 0001683168-25-000168
Chunk: 184

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-01-10
Form: DRS/A
Chunk 184
---
 Venture Law, the PRC Cooperative Joint Venture Law and the Wholly Foreign-owned Enterprise
Law, or the Old FIE Laws. The FIL and its related implementation rules including the Implementation Rules to the Foreign Investment Law
promulgated by the State Council on December 26, 2019 and became effective on January 1, 2020 further clarified that the state
encourages and promotes foreign investment, protects the lawful rights and interests of foreign investors, regulates foreign investment
administration, continues to optimize foreign investment environment, and advances a higher-level opening.

On December 30, 2019,
the MOFCOM and State Administration for Market Regulation, or SAMR, jointly promulgated the Measures for Information Reporting on Foreign
Investment, which became effective on January 1, 2020. Pursuant to the Measures for Information Reporting on Foreign Investment,
where a foreign investor carries out investment activities in China directly or indirectly, the market regulatory authorities shall forward
the investment information submitted by the foreign investor or the foreign-invested enterprise to the competent commerce
administrative authorities.

With respect to foreign
investments that affect or may affect the national security, a security review shall be carried out in accordance with the Measures for
the Security Review of Foreign Investments promulgated by the NDRC and the MOFCOM on December 19, 2020, and implemented as of
January 18, 2021. According to the Measures, an office of the working mechanism for the security review of foreign investments, or working
mechanism office shall be established to undertake the routine work of the security review of foreign investments. In addition, foreign
investment in military industry and related fields of national defense and security, or foreign investment in areas around military facilities
and military industry facilities, may lead to foreign investment in obtaining actual control of enterprises in several important fields,
such as important agricultural products, important energy and resources, major equipment manufacturing, important infrastructure, important
transportation services, important cultural products and services, important information technology and Internet products and services,
important financial services and key technology fields. Foreign investors or domestic parties involved in the aforesaid foreign investment
shall voluntarily report to the working mechanism office before implementing the investment, and shall not implement the investment until
the working mechanism office decides whether a safety review is necessary. Violators of the provisions may be ordered to make declaration
within a specified time limit, dispose equities or assets and take other necessary measures to restore the equities or assets