Company: YCY-WT
Filing Date: 2025-07-09
Form Type: DRS
Source: 0001213900-25-062426
Chunk: 188

Company: AA Mission Acquisition Corp. II
Filing Date: 2025-07-09
Form: DRS
Chunk 188
---
 regulations. If we select a business combination target that operates in the PRC, the approval of the CSRC, the CRO, the Central Cyberspace Affairs Commission (“CCAC”) and / or other PRC authority may be required for our initial business combination under PRC law. The M&A Rules requires overseas special purpose vehicles that are controlled by PRC companies or individuals formed for the purpose of seeking a public listing on an overseas stock exchange through acquisitions of PRC domestic companies using shares of such special purpose vehicles or held by their shareholders as considerations 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. However, the application of the M&A Rules remains unclear. If CSRC approval is required for our initial business combination, it is uncertain whether it would be possible for us to obtain the approval. Any failure to obtain or delay in obtaining CSRC approval for our initial business combination would subject us to sanctions imposed by the CSRC and other PRC regulatory agencies. Additionally, on July 10, 2021, the CAC released a draft of the revised Cybersecurity Review Measures for public consultation until July 25, 2021 (the “2021 Measures”). The 2021 Measures apply to any business operator that holds the personal information of more than one million users when it intends to seek a foreign listing. Upon receipt of an application, if the CRO decides to conduct a review, the CRO will complete a preliminary review and send recommendations to a designated body of members of the network security review mechanism and certain government departments for further consideration. The CSRC has been added in the 2021 Measures to the list of mainland Chinese authorities that are to be involved in formulating the national network security review mechanism. This means that the CSRC can instruct the CRO to obtain approval from the CCAC to conduct a cybersecurity review of any proposed foreign public offering of a mainland Chinese operator where the capital markets regulator considers the listing affects or is likely to affect China’s national security. The proposed rules might impact the timetable of our initial business combination and the certainty of our initial business combination, if the target company we have identified is subject to the 2021 Measures or the final Cybersecurity Review Measures. Further regulations or regulatory actions in the PRC could affect the timetable and closing certainty of this offering and / or our initial business combination. Further, on July 6, 2021, the General Office of the Communist Party of China Central Committee and the