Company: GVH
Filing Date: 2025-10-01
Form Type: F-3
Source: 0001213900-25-094769
Chunk: 31

Company: Globavend Holdings Ltd
Filing Date: 2025-10-01
Form: F-3
Chunk 31
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RC government has initiated a series of regulatory actions and statements to regulate business operations in certain areas in China
with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision over China-based
companies listed overseas using VIE structures, adopting new measures to extend the scope of cybersecurity reviews, and expanding the
efforts in anti-monopoly enforcement. For example, on July 6, 2021, the General Office of the Central Committee of the Chinese Communist
Party and the General Office of the State Council jointly issued a document to crack down on illegal activities in the securities market
and promote the high-quality development of the capital market, which, among other things, requires the relevant governmental authorities
to strengthen cross-border oversight of law enforcement and judicial cooperation, to enhance supervision over China-based companies listed
overseas, and to establish and improve the system of extraterritorial application of the PRC securities laws. On July 10, 2021, the
CAC issued a revised draft of the Measures for Cybersecurity Review for public comments (the “Revised Draft”), which required
that, in addition to “operators of critical information infrastructure,” any “data processor” controlling personal
information of no less than one million users which seeks to list in a foreign stock exchange should also be subject to cybersecurity
review, and further elaborated the factors to be considered when assessing the national security risks of the relevant activities.

On December 24, 2021,
the CSRC released the Administrative Provisions of the State Council Regarding the Overseas Issuance and Listing of Securities by Domestic
Enterprises (Draft for Comments) (the “Draft Administrative Provisions”) and the Measures for the Overseas Issuance of Securities
and Listing Record-Filings by Domestic Enterprises (Draft for Comments) (together with the Draft Administrative Provisions, the “Draft
Rules Regarding Overseas Listing”). The Draft Rules Regarding Overseas Listing lays out the filing regulation arrangements for both
direct and indirect overseas listings and clarifies the determination criteria for indirect overseas listings in overseas markets. Among
other things, if a domestic enterprise intends to indirectly offer and list securities in an overseas market, the record-filing obligation
is with a major operating entity incorporated in the PRC, and such filing obligation shall be completed within three working days
after the overseas listing application is submitted. The required filing materials for an IPO and listing shall include, but not be limited
to, regulatory opinions, record filing, approval, other