Company: MKDWW
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001641172-25-002607
Chunk: 18

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: 20-F
Item: Item 3
Chunk 18
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 rights of a company in mainland China that operates its main business in mainland China. Therefore,
MKD may be subject to the filing requirements under the Overseas Listing Measures for the Company’s future offering and listing
of the Company’s securities in an overseas market. MKD submitted the required filing with the CSRC on September 21, 2023 in connection
with the business combination with Cetus Capital, but it is not within the scope of the Overseas Listing Trial Measures. As advised by
the Company’s PRC counsel, MKD believes that its business combination which closed on July 31, 2024 and listing on Nasdaq does
not require further review or approval by CSRC. However, there can be no assurance that this interpretation or position taken by CSRC
may not change in the future.

On
December 27, 2021, the NDRC and the Ministry of Commerce (the “ MOFCOM”), jointly issued the Special Administrative Measures
(Negative List) for Foreign Investment Access (2021 Version), or the 2021 Negative List, which became effective on January 1, 2022. Pursuant
to the 2021 Negative List, if a PRC domestic company, which engages in any prohibited business set out in the list, seeks an overseas
offering or listing, it must first obtain the approval from the competent governmental authorities. In addition, the foreign investors
in such company must not be involved in its operation or management, and their ownership interest should be subject to limitations imposed
under regulations on investments in domestic securities by foreign investors.

In
addition, there is no assurance that new rules or regulations promulgated in the future will not impose additional requirements on MKD.
If it is determined in the future that approval and filing from the CSRC or other regulatory authorities or other procedures, are required,
on a retrospective basis, it is uncertain whether such approval can be obtained or filing procedures completed, or how long it will take
to obtain such approval or complete such filing procedures. These regulatory authorities may impose fines and penalties on MKD’s
operations in China, limit MKD’s ability to carry out business operations in China or pay dividends outside China, delay or restrict
the repatriation of the Company’s offshore funds into China or take other actions that could materially and adversely affect MKD’s
business, financial condition, results of operations, and prospects, as well as the trading price of the Company’s securities.
The CSRC and other PRC regulatory