Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 288

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1A
Chunk 288
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SAFE Notice 13, which became effective on June 1, 2015.

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Under
SAFE Notice 13, applications for foreign exchange registration of inbound foreign direct investments and outbound overseas direct investments,
including those required under SAFE Circular 37, will be filed with qualified banks instead of SAFE. The qualified banks will directly
examine the applications and accept registrations under the supervision of SAFE.

We
have requested PRC residents who we know hold direct or indirect interests in us to make the necessary applications, filings and registrations
as required under SAFE Circular 37. We believe that most of these shareholders have completed the initial foreign exchange registrations
with relevant banks. However, these individuals may not continue to make required filings or updates in a timely manner, or at all.

We
may not know the identities of all PRC residents holding direct or indirect interest in our company. Any failure or inability by such
individuals to comply with SAFE regulations may subject us to fines or legal sanctions, restrict our cross-border investment activities,
and limit any PRC subsidiary’s ability to distribute dividends to us. As a result, our business and our ability to make distributions
to you could be materially adversely affected.

Furthermore,
as these foreign exchange regulations are still relatively new and their interpretation and implementation have been evolving, it is
unclear how these regulations, and any future regulation concerning offshore or cross-border transactions, will be interpreted, amended
and implemented by the relevant government authorities. For example, we may be subject to a more stringent review and approval process
with respect to our foreign exchange activities, such as remittance of dividends and foreign-currency-denominated borrowings, which may
adversely affect our financial condition and results of operations.

If
we acquire a PRC domestic company, we or the owners of such company, as the case may be, may not obtain the necessary approvals or complete
the necessary filings and registrations required by the foreign exchange regulations. This may restrict our ability to implement our
acquisition strategy and could adversely affect our business and prospects.

Because
a majority of our executive officers and directors are located in or have significant ties to the PRC, you may face difficulties in protecting
your interests, and your ability to protect your rights through the U.S. Federal courts may be limited.

Our
Chairperson of the Board, Yuk Man Lau, is a resident of Hong Kong and one of our directors, Guohan Li, is a resident of mainland China.
As a result, legal claims against us