Company: CAAS
Filing Date: 2025-07-25
Form Type: F-4/A
Source: 0001104659-25-070492
Chunk: 21

Company: China Automotive Systems, Inc.
Filing Date: 2025-07-25
Form: F-4/A
Chunk 21
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 not expect to be identified as a Commission-Identified Issuer under the HFCAA after we filed annual report on Form 10-K
for the fiscal year ended December 31, 2024. Each year, the PCAOB will determine whether it can inspect and investigate completely
audit firms in mainland China and Hong Kong, among other jurisdictions. If PCAOB determines in the future that it no longer has full access
to inspect and investigate completely accounting firms in mainland China and Hong Kong and we continue to use an accounting firm headquartered
in one of these jurisdictions to issue an audit report on our financial statements filed with the Securities and Exchange Commission,
we would be identified as a Commission-Identified Issuer following the filing of the annual report on Form 10-K (or in case of CAAS
Cayman, on Form 20-F) for the relevant fiscal year. There can be no assurance that we would not be identified as a Commission-Identified
Issuer for any future fiscal year, and if we were so identified for two consecutive years, we would become subject to the prohibition
on trading under the HFCAA and our securities may be delisted from Nasdaq as a result. Delisting of our securities would force holders
of our securities to sell their securities. Further, we may be prohibited from listing our securities on another U.S. securities exchange.
The market price of our securities could be adversely affected as a result of anticipated negative impacts of such legislative or executive
actions upon, as well as negative investor sentiment toward, companies with significant operations in mainland China and Hong Kong that
are listed in the United States, regardless of whether such actions are implemented and regardless of our actual operating performance.

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For more details, see “Risk Factors and Caution
Regarding Forward-Looking Statements — Risks Related to Doing Business in China and Other Countries besides The United States —
The PCAOB had historically been unable to inspect our auditor in relation to their audit work performed for our financial statements and
the inability of the PCAOB to conduct inspections of our auditor in the future may deprived our investors with the benefits of such inspections.”
And “Risk Factors and Caution Regarding Forward-Looking Statements — Risks Related to Doing Business in China and Other Countries
besides the United States — Our shares may be prohibited from trading in the United States under the HFCAA in the future if the
PCAOB is unable to inspect or investigate completely auditors located in China. The delisting