Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1774

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 1774
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 laws and regulations
will have on our future business combination with a company with major operation in China. Therefore, China Securities Regulatory Commission
and other Chinese government agencies may exert more oversight and control over offerings that are conducted overseas and foreign investment
in China-based issuers. Additional compliance procedures may be required in connection with our Initial Public Offering and our Business Combination process, and, if required, we cannot predict whether we will be able to obtain such approval. As a result, both you and us
face uncertainty about future actions by the PRC government that could significantly affect our ability to offer or continue to offer
securities to investors and cause the value of our securities to significantly decline or be worthless.

54

The
cash-flow structure of a post-acquisition company based in China or Hong Kong poses additional risks including, but not limited to, restrictions
on foreign exchange and restrictions on our ability to transfer cash between entities, across borders, and to U.S. investors.

The
PRC government also has significant authority to exert restrictions on foreign exchange and our ability to transfer cash between entities,
across borders, and to U.S. investors that may apply if we acquire a company that is based in China or Hong Kong in an initial business
combination. We will be subject to restrictions on dividend payments as current regulations in China would permit our PRC subsidiary
to pay dividends to us only out of its accumulated distributable profits, if any, determined in accordance with Chinese accounting standards
and regulations. In addition, our PRC subsidiary will be required to set aside at least 10% (up to an aggregate amount equal to half
of its registered capital) of its accumulated profits each year. See “—If we successfully consummate a Business Combination
with a target business with primary operations in the PRC, we will be subject to restrictions on dividend payments following consummation
of our initial business combination.”

In
addition, we may be subject to restrictions on currency exchange as the PRC government may limit or eliminate our ability to utilize
cash generated in Renminbi, or RMB to fund our business activities outside of the PRC or pay dividends in foreign currencies to our shareholders,
including holders of our securities, and may limit our ability to obtain foreign currency through debt or equity financing. Should we
choose to acquire a company in China, exchange controls that exist in the PRC may restrict or prevent us from using the proceeds of our
Initial Public Offering to acquire a target company in PRC and limit our ability to