Company: ABLV
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001213900-25-034677
Chunk: 73

Company: Able View Global Inc.
Filing Date: 2025-04-23
Form: 20-F
Item: Item 3
Chunk 73
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employees up to a maximum amount specified by the local government from time to time. The requirement of employee benefit plans has not
been implemented consistently by the local governments in China given the different levels of economic development in different locations.
In addition, we engage third-party human resources agencies to make social insurance and housing fund contributions for certain of our
employees, and there is no assurance that such third-party agencies will make such contributions in full in a timely manner, or at all.
Although some of our PRC entities incorporated in various locations in China have made the required employee benefit payments, we cannot
assure you that we are able to make adequate contribution in a timely manner at all time. If we are subject to late fees or fines in relation
to the underpaid employee benefits, our financial condition and results of operations may be adversely affected.

Outsourced services engaged by our PRC Operating
Entities may be deemed as labor dispatch and thus may cause our PRC Operating Entities to violate the requirements under labor dispatch
related PRC Laws and regulations.

The Ministry of Human Resources and Social Security
promulgated the Interim Provisions on Labor Dispatchon January 24, 2014, which became effective on March 1, 2014. Pursuant
to the Interim Provisions on Labor Dispatch(the “ Provisions”), the employment of workers by an employer in the name
of contracting or outsourcing but in essence the workers work at the employer’s location, receive tasks directly from the employer
shall be regarded as labor dispatch and subject to the Provisions. Pursuant to the Labor Contract Law of the PRCand the Interim
Provisions on Labor Dispatch, the number of dispatched labor that an employer may employ shall not exceed 10 percent of the total
number of its employees (i. e., the sum of employees executed labor contracts with such employer and the number of labor dispatch used
by such employer). Any employer in violation to the aforementioned laws and regulations shall be ordered by competent labor administrative
authorities to make correction within a stipulated period, and any failure to make the correction may subject such employer to a fine
ranging from RMB 5,000 (approximately USD 702) to RMB 10,000 (approximately USD 1,403) per person. Three of our PRC Operating
Entities have relatively few employees (i. e., less than 10) while most of the labor force used by such PRC Operating Entities are in the
form of outsourced services. In