Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 88

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1
Chunk 88
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 within 30 days from receipt of relevant materials, we may proceed to consummate the
contemplated business combination. If antitrust authority decides to prohibit the contemplated business combination after further investigation,
we must terminate such business combination and would then be forced to either attempt to complete a new business combination or we would
be required to return any amounts which were held in the trust account to our shareholders. When we evaluate a potential business combination,
we will consider the need to comply with the Antitrust Law and other relevant regulations which may limit our ability to effect an acquisition
or may result in our modifying or not pursuing a particular transaction. Since our business combination period is within 18 months from
the closing of the IPO, and the approval process may take a period longer than we expect before we enter into a definitive agreement with
a target company, we may be unable to complete a business combination within 18 months from the closing of the IPO.

  48 

Exchange
controls that exist in the PRC may restrict or prevent us from using the proceeds of the IPO to acquire a target company in PRC and limit
our ability to utilize our cash flow effectively following our initial business combination.

SAFE
promulgated the Notice of the State Administration of Foreign Exchange on Reforming the Administration of Foreign Exchange Settlement
of Capital of Foreign-invested Enterprises, or Circular 19, effective on June 1, 2015, in replacement of the Circular on the Relevant
Operating Issues Concerning the Improvement of the Administration of the Payment and Settlement of Foreign Currency Capital of Foreign-Invested
Enterprises, or SAFE Circular 142, the Notice from the State Administration of Foreign Exchange on Relevant Issues Concerning Strengthening
the Administration of Foreign Exchange Businesses, or Circular 59, and the Circular on Further Clarification and Regulation of the Issues
Concerning the Administration of Certain Capital Account Foreign Exchange Businesses, or Circular 45. According to Circular 19, the flow
and use of the RMB capital converted from foreign currency-denominated registered capital of a foreign-invested company is regulated
such that RMB capital may not be used for the issuance of RMB entrusted loans, the repayment of inter-enterprise loans or the repayment
of banks loans that have been transferred to a third party. Although Circular 19 allows RMB capital converted from foreign currency-denominated
registered capital of a foreign-invested enterprise to be used for equity investments within the PRC, it also reiterates the principle
that RMB