Company: LICN
Filing Date: 2025-01-29
Form Type: 424B5
Source: 0001213900-25-007741
Chunk: 109

Company: Lichen International Ltd
Filing Date: 2025-01-29
Form: 424B5
Chunk 109
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 and the
businesses and activities of, financial and taxation solution services businesses in China, including our business. We cannot assure you
that we will be able to maintain our existing licenses or obtain new ones. If our operations do not comply with these new regulations
at the time they become effective, or if we fail to obtain any licenses required under these new laws and regulations, we could be subject
to penalties.

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The PRC government has significant oversight and
discretion over the conduct of our business and may intervene or influence our operations as the government deems appropriate to further
regulatory, political and societal goals. The PRC government has recently published new policies that significantly affected certain industries,
such as the education and internet industries, and we cannot rule out the possibility that it will in the future release regulations or
policies regarding our industry that could adversely affect our business, financial condition and results of operations. Furthermore,
the PRC government has recently indicated an intent to exert more oversight and control over securities offerings and other capital markets
activities that are conducted overseas and foreign investment in China-based companies like us. Any such action, once taken by the PRC
government, could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and cause
the value of such securities to significantly decline or in extreme cases, become worthless.

The filing, approval or other administration requirements of the Chinese Securities Regulatory Commission (the “CSRC”) or other PRC government authorities may be required in connection with our future offshore offering under PRC law, and, if required, we cannot predict whether or for how long we will be able to complete the filing procedure with the CSRC and obtain such approval or complete such filing, as applicable.

The Regulations on Mergers and Acquisitions of
Domestic Companies by Foreign Investors (the “M&A Rules”), adopted by six PRC regulatory agencies in 2006 and amended
in 2009, include, among other things, provisions that purport to require that an offshore special purpose vehicle, formed for the purpose
of an overseas listing of securities through acquisitions of domestic enterprises in China or assets and controlled by enterprises or
individuals in China, to obtain the approval of the CSRC prior to the listing and trading of such special purpose vehicle’s securities
on an overseas stock exchange. On September 21, 2006, pursuant to the M&A Rules and other PRC laws, the CSRC published on its
official website