Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 463

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1
Chunk 463
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 application. As of the date of this Annual Report,
the Company is not considering any overseas public offerings of its securities. However, there are still uncertainties regarding the
interpretation and implementation of such regulatory guidance, and we cannot assure you that we have not inadvertently misinterpreted
the filing requirements, that the requirements will not change in the future, or that we will be able to comply with all the new regulatory
requirements of the Trial Measures, the revised Provisions, or any future implementing rules on a timely basis, or at all. Any failure
by us to fully comply with the new regulatory requirements, including but not limited to the failure to complete the filing procedures
with the CSRC, if required, may result in our securities being ineligible for listing on a US exchange, which would significantly limit
or completely hinder our ability to offer or continue to offer our common stock, cause significant disruption to our business operations,
severely damage our reputation, and, in turn, materially and adversely affect our financial condition and results of operations and cause
our securities to significantly decline in value or become worthless.

39

Opinions
on Severely Cracking Down on Illegal Securities Activities According to Law

Recently,
the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council jointly issued
the “Opinions on Severely Cracking Down on Illegal Securities Activities According to Law,” or “the Opinions,”
which were made available to the public on July 6, 2021. The Opinions emphasized the need to strengthen the administration over illegal
securities activities and the need to strengthen the supervision over overseas listings by Chinese companies.

Based
on our understanding of currently applicable PRC laws and regulations, the Company and its PRC subsidiary and VIE: (i) are not currently
required to obtain permissions from any PRC authorities to operate or to issue securities to foreign investors; (ii) are not subject
to permission requirements from the China Securities Regulatory Commission (the “CSRC”), the Cyberspace Administration of
China (the “CAC”) or any other entity that is required to approve their operations; and (iii) have not been denied any permissions
by any PRC authorities. In addition,

If
we have erroneously concluded that these permission requirements do not apply to us, or if applicable laws, regulations, or interpretations
change, and it is determined in the future that the permission requirements become applicable to us, we may be subject to review, may
face challenges