Company: CAAS
Filing Date: 2025-07-25
Form Type: F-4/A
Source: 0001104659-25-070492
Chunk: 97

Company: China Automotive Systems, Inc.
Filing Date: 2025-07-25
Form: F-4/A
Chunk 97
---
 within three business
days after such application is submitted. The Overseas Listing Trial Measures also requires subsequent reports to be filed with the CSRC
on material events, such as change of control, investigations or sanctions imposed by overseas securities regulatory agencies or other
relevant competent authorities, change of listing status or transfer of listing segment, or voluntary or forced delisting of the issuer(s) who
have completed overseas offerings and listings, and where an issuer’s main business undergoes material changes after overseas offering
and listing, and is therefore beyond the scope of business stated in the filing documents, such issuer shall submit to the CSRC an ad
hoc report and a relevant legal opinion within 3 working days after occurrence of the changes. Furthermore, pursuant to the Overseas Listing
Measures, subsequent securities offerings of an issuer in the same overseas market where it has previously offered and listed securities
shall be filed with the CSRC within 3 working days after the offering is completed, and subsequent securities offerings and listings of
an issuer in other overseas markets than where it has offered and listed shall be filed with the CSRC within 3 working days after the
relevant application is submitted overseas.

On February 24, 2023, the CSRC released the
Provisions on Strengthening Confidentiality and Archives Administration in Respect of Overseas Issuance and Listing of Securities by Domestic
Enterprises, or the Archives Rules, which became effective on March 31, 2023. Pursuant to the Archives Rules, domestic joint-stock
enterprises listed in overseas markets via direct offering and domestic operational entities of enterprises listed in overseas markets
via indirect offering must obtain approval and complete filing or other requirements before they publicly disclose any documents and materials
that contain state secrets or government work secrets or that, if divulged, will jeopardize China’s national security or public
interest, or before they provide such documents or materials to entities or individuals such as securities companies, securities service
providers and overseas regulators.

<div align='center'>55

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</div>

We are incorporating by reference management’s
discussion and analysis of financial condition and results of operations for the years ended December 31, 2023 and December 31,
2024 under “Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operations,” included
in our Annual Report on Form 10-K filed with the SEC on March 28, 2025, and