Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 462

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1
Chunk 462
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 in charge, and other directly liable persons may also
be subject to administrative penalties, such as warnings and fines.

On
February 24, 2023, the CSRC, together with the Ministry of Finance, the National Administration of State Secrets Protection and National
Archives Administration of China, revised the Provisions on Strengthening Confidentiality and Archives Administration for Overseas Securities
Offering and Listing, which were issued by the CSRC and National Administration of State Secrets Protection and National Archives Administration
of China in 2009, or the Provisions. The revised Provisions were issued under the title the “Provisions on Strengthening Confidentiality
and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies,” and came into effect on March 31,
2023, together with the Trial Measures.

One
of the major revisions to the revised Provisions is expanding their application to cover indirect overseas offerings and listing, as
is consistent with the Trial Measures. The revised Provisions require that, among other things, (a) a domestic company that plans to,
either directly or indirectly through its overseas listed entity, publicly disclose or provide to relevant individuals or entities, including
securities companies, securities service providers, and overseas regulators, any documents and materials that contain state secrets or
working secrets of government agencies, shall first obtain approval from competent authorities according to law, and file with the secrecy
administrative department at the same level; and (b) a domestic company that plans to, either directly or indirectly through its overseas
listed entity, publicly disclose or provide to relevant individuals and entities, including securities companies, securities service
providers, and overseas regulators, any other documents and materials that, if leaked, will be detrimental to national security or public
interest, shall strictly fulfill relevant procedures stipulated by applicable national regulations. Any failure or perceived failure
by the Company and its subsidiaries to comply with the above confidentiality and archives administration requirements under the revised
Provisions and other PRC laws and regulations may result in the relevant entities being held legally liable by competent authorities
and referred to the judicial organ to be investigated for criminal liability if suspected of committing a crime.

As
an Existing Issuer, the Company is not required to make any filings at this time pursuant to the Trial Measures and the revised Provisions;
however, if we should seek to effect an overseas follow-on offering in the future, we would be required to file with the CSRC within
three working days following our submission of an initial public offering or listing