Company: PAVS
Filing Date: 2025-11-25
Form Type: F-3
Source: 0001929980-25-000743
Chunk: 16

Company: Paranovus Entertainment Technology Ltd.
Filing Date: 2025-11-25
Form: F-3
Chunk 16
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 listing abroad. The cybersecurity review will evaluate, among others, the risk of critical information infrastructure, core data, important data, or a large amount of personal information being influenced, controlled or maliciously used by foreign governments and network information security risk in connection with the overseas listing. On September 24, 2024, the State Council promulgated the Network Data Security Administration (the “Security Administration Regulations”), which came into effect on January 1, 2025. According to the Security Administration Regulations, network data processing activities refer to the collection, storage, use, processing, transmission, provision, disclosure, deletion, and other activities of network data. A network data processor refers to an individual or organization that independently determines the purpose and method of processing in network data processing activities. If a network data processor conducts network data processing activities that affect or may affect national security, a national security review is required. Security Administration Regulations further stipulates that if it is indeed necessary to provide important data collected or generated within the country to overseas entities, a data export security assessment organized by the national cyberspace administration must be conducted. As of today, we have not received any inquiry, notice, warning, or sanctions regarding our corporate structure from the CSRC, CAC or any other PRC governmental agency. As advised by our PRC counsel, Jingtian & Gongcheng LLP, we are unlikely to be subject to cybersecurity review, because: (i) we have not received any notice from governmental agency to treat us as an operator of critical information infrastructure, and (ii) we have not received any notice from governmental agency to treat us as an online platform operator who possesses personal information of more than one million users. In addition, we currently do not have over one million users’ personal information. If we ever became subject to the cybersecurity review of CAC in the future as the applicable rules, regulations, policies or the interpretation thereof change, during such review, we may be required to suspend our operation or experience other disruptions to our operations. Cybersecurity review could also result in negative publicity with respect to our company and diversion of our managerial and financial resources. For additional details, see “Item 3. Key Information-Risk Factors-Risks Related to Doing Business in China.”

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On February 17, 2023, the CSRC promulgated the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies (the “Trial Measures”), which took effect on March 31, 2023.

Furthermore, the PRC