Company: RAYA
Filing Date: 2025-07-28
Form Type: 424B5
Source: 0001213900-25-067907
Chunk: 106

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-07-28
Form: 424B5
Chunk 106
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 assurance, and quote to the customer for verification. After confirmation by the
customer, our procurement department will purchase the raw materials, and the production department will fulfill the order. Finally, our
inspection department will inspect and issue a report affirming the quality before the production department pack and deliver the final
product to the customer.

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Recent Development</div>

On December 19, 2022, the Company completed its
initial public offering. In this offering, the Company issued 3,000,000 Class A ordinary shares at a price of US$4.00 per share. The Company
received gross proceeds in the amount of US$12 million before deducting any underwriting discounts or expenses. The Class A ordinary shares
began trading on December 14, 2022 on the Nasdaq Capital Market under the ticker symbol “RAYA.”

On October 12, 2023, the Company notified its
independent registered public accounting firm, TPS Thayer its decision to dismiss TPS Thayer as the Company’s auditor. On the same
day, the Audit Committee and the Board of Directors of the Company appointed Fortune CPA Inc as its new independent registered public
accounting firm to audit the Company’s financial statements.

On November 30, 2023, Ms. Peiling Cheng tendered
her resignation as independent director of the Company, effective November 30, 2023. On the same day, approved by the Board of Directors,
the Nominating Committee and the Compensation Committee, Mr. Tsang Sheung was appointed as independent director and chair of compensation
committee of the Company, effective November 30, 2023.

<div align='center'>Corporate Structure</div>

Below is a chart illustrating our current corporate structure:

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Our Products</div>

Through our PRC subsidiaries, Ruike, Zhejiang Leiya and
Wenzhou New Focus, we are mainly engaged in the manufacturing, R&D, and wholesale and retail of power solution products. According
to our total revenue in the past three fiscal years, inverters, chargers, and gasoline generators are our top three categories, encompassing
more than 95% of our total sales. Our sine wave inverters require high technical expertise and come with a high profit margin.

Zhejiang Leiya’s inverter product selection includes off-grid
inverters, 12v inverters, and 24v inverters, which all use either