Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 107

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1
Chunk 107
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 for the handling and protection
of personal information and the transmission of personal information overseas. If our potential future target business in the PRC involves
collecting and retaining internal or customer data, such target might be subject to the relevant cybersecurity laws and regulations, including
the PRC Cybersecurity Law and the PIPL, and the cybersecurity review before effecting a business combination.

In addition, 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, which were available to the public on July 6,
2021. These Opinions emphasized the need to strengthen the administration over illegal securities activities and the supervision on overseas
listings by China-based companies. These Opinions proposed to take effective measures, such as promoting the construction of relevant
regulatory systems, to deal with the risks and incidents facing PRC-based overseas-listed companies and the demand for cybersecurity and
data privacy protection. As of the date of this Annual Report, no official guidance and related implementation rules have been issued
in relation to these recently issued opinions and the interpretation and implementation of the Opinions remain unclear at this stage.
We cannot assure you that we will not be required to obtain the pre-approval of the CSRC and potentially other PRC governmental authorities
to pursue any business combination with a PRC-based company.

56

If, for example, our potential initial business combination is with
a target business operating in the PRC and if the New Measures mandates clearance of cybersecurity review and other specific actions to
be completed by the target business, we may face uncertainties as to whether such clearance can be timely obtained, or at all, and incur
additional time delays to complete any such acquisition. Cybersecurity review could also result in negative publicity with respect to
our initial business combination and diversion of our managerial and financial resources. We may also be prevented from pursuing certain
investment opportunities if the PRC government considers that the potential investments will result in a significant national security
issue. In addition, due to limited business combination period that we have, we may avoid searching for a target and completing an initial
business combination that will be subject to cybersecurity review. Therefore, we may avoid searching for a company which could be deemed
as a network platform operator and possesses information of more than one million users.

Further, if the combined company, after business combination, is deemed
to be a network platform operator which holds personal information of more than one million users, it will be subject to such cybersecurity