Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 274

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1A
Chunk 274
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 prior to the listing and trading of such
special purpose vehicle’s securities on an overseas stock exchange. On September 21, 2006, the CSRC published on its official website
procedures specifying documents and materials required to be submitted to it by special purpose vehicles seeking CSRC’s approval
of overseas listings. However, substantial uncertainty remains regarding the scope and applicability of the M&A Rules and the CSRC
approval requirement to offshore special purpose vehicles.

  56 

Moreover,
except for emphasizing the need to strengthen the administration over illegal securities activities, and the need to strengthen the supervision
over overseas listings by Chinese companies, the Opinions, which was made available to the public on July 6, 2021, also provides that
the State Council will revise provisions regarding the overseas issuance and listing of shares by companies limited by shares and will
clarify the duties of domestic regulatory authorities.

On
December 24, 2021, the State Council published the draft Administrative Provisions on the Overseas Issuance and Listing of Securities
by Domestic Companies (Draft for Comments) (the “Administrative Provisions”), and the CSRC published the draft Measures for
Record-filings of the Overseas Issuance and Listing of Securities by Domestic Companies (Draft for Comments) (the “Administrative
Measures”), for public comment. Pursuant to Article 2 of the Administrative Provisions, domestic enterprises that (i) offer shares,
depository receipts, convertible notes or other equity securities overseas, or (ii) list securities on an overseas stock exchange, must
complete record-filing procedures and report the relevant information to the CSRC. The CSRC shall determine the record-filing method.
Pursuant to the Article 2 of the Administrative Measures, domestic enterprises that directly or indirectly offer or list securities on
an overseas stock exchange shall file with the CSRC within three business days after submitting their initial public offering and/or
listing application documents. The requested filing documents include but are not limited to: (1) a filing report and related undertakings;
(2) regulatory opinions, filing or approval documents issued by the relevant authorities (if applicable); (3) security review opinions
issued by the relevant authorities, if applicable; (4) a PRC legal opinion; and (5) a prospectus.

On
December 27, 2021, the NDRC and the MOFCOM jointly promulgated the Special Administrative Measure (Negative List) for the Access of Foreign