Company: RAYA
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001213900-25-070321
Chunk: 7

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-08-01
Form: 424B5
Chunk 7
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16 of the 2024 Annual Report for a discussion of
these legal and operational risks and information that should be considered before making a decision to purchase our Class A
Ordinary Shares.

In addition, since 2021, the Chinese government
has strengthened its anti-monopoly supervision, mainly in three aspects: (1) establishing the National Anti-Monopoly Bureau; (2) revising
and promulgating anti-monopoly laws and regulations, including: the Anti-Monopoly Law (draft Amendment published on October 23, 2021 for
public opinions), the anti-monopoly guidelines for various industries, and the detailed Rules for the Implementation of the Fair Competition
Review System; and (3) expanding the anti-monopoly law enforcement targeting Internet companies and large enterprises. As of the date
of this prospectus, the Chinese government’s recent statements and regulatory actions related to anti-monopoly concerns have not
impacted our ability to conduct business, accept foreign investments, or list on a U.S. or other foreign exchange because neither the
Company nor its PRC subsidiaries engage in monopolistic behaviors that are subject to these statements or regulatory actions.

Pursuant to the Holding Foreign Companies Accountable
Act, or the HFCAA, if the Public Company Accounting Oversight Board, or the PCAOB, is unable to inspect an issuer’s auditors for
three consecutive years, the issuer’s securities are prohibited to trade on a U.S. stock exchange. The PCAOB issued a Determination
Report on December 16, 2021 which found that the PCAOB is unable to inspect or investigate completely registered public accounting firms
headquartered in: (1) mainland China of the People’s Republic of China because of a position taken by one or more authorities in
mainland China; and (2) Hong Kong, a Special Administrative Region and dependency of the PRC, because of a position taken by one or more
authorities in Hong Kong. Furthermore, the PCAOB’s report identified the specific registered public accounting firms which are subject
to these determinations. On June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act, and on December
29, 2022, legislation entitled “Consolidated Appropriations Act, 2023” (the “Consolidated Appropriations Act”)
was signed into law by President Biden, which contained, among other things, an identical provision to the Accelerating Holding Foreign
Companies Accountable Act and amended