Company: RAYA
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001213900-25-070321
Chunk: 92

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-08-01
Form: 424B5
Chunk 92
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 enhancing supervision over
China-based companies listed overseas using variable interest entity structure, adopting new measures to extend the scope of cybersecurity
reviews, and expanding the efforts in anti-monopoly enforcement.

As confirmed by our PRC counsel, Gaopeng
& Partners, we will not be subject to cybersecurity review with the Cyberspace Administration of China, or the “CAC,”
after the Cybersecurity Review Measures became effective on February 15, 2022, since we currently do not have over one million users’
personal information and do not anticipate that we will be collecting over one million users’ personal information in the foreseeable
future, which we understand might otherwise subject us to the Cybersecurity Review Measures; we are also not subject to network data
security review by the CAC if the Draft Regulations on the Network Data Security Administration are enacted as proposed, since we currently
do not have over one million users’ personal information and do not collect data that affects or may affect national security and
we do not anticipate that we will be collecting over one million users’ personal information or data that affects or may affect
national security in the foreseeable future, which we understand might otherwise subject us to the Security Administration Draft. See
“Risk Factors — Risks Related to Doing Business in China.”

On February 17, 2023, the China Securities Regulatory
Commission, or the CSRC, announced the Circular on the Administrative Arrangements for Filing of Securities Offering and Listing by Domestic
Companies, or the Circular, and released a set of new regulations which consists of the Trial Administrative Measures of Overseas Securities
Offering and Listing by Domestic Companies, or the Trial Measures, and five supporting guidelines. On the same date, the CSRC also released
the Notice on the Arrangements for the Filing Management of Overseas Listing of Domestic Companies, or the Notice. The Trial Measures
came into effect on March 31, 2023. The Trial Measures refine the regulatory system by subjecting both direct and indirect overseas offering
and listing activities to the CSRC filing-based administration. Requirements for filing entities, time points and procedures are specified.
A PRC domestic company that seeks to offer and list securities in overseas markets shall fulfill the filing procedure with the CSRC per
the requirements of the Trial Measures. Where a PRC domestic company seeks to indirectly offer and list securities in overseas markets,
the issuer shall designate a major domestic operating entity, which shall, as the domestic responsible entity, file with the CSRC. The
Trial