Company: ZDAN
Filing Date: 2025-02-18
Form Type: DRS/A
Source: 0001683168-25-001085
Chunk: 93

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-02-18
Form: DRS/A
Chunk 93
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as Securities Offering and Listing by Domestic Companies, and came into effect on March 31, 2023 with the Trial
Measures. One of the major revisions to the revised Provisions is expanding its application to cover indirect overseas offerings and
listings, as is consistent with the Trial Measures. The revised Provisions require that, including but not limited to (a) a domestic
company that plans to, either directly or through its overseas listed entity, publicly disclose or provide to relevant individuals or
entities including securities companies, securities service providers and overseas regulators, any documents and materials that contain
state secrets or working secrets of government agencies, shall first obtain approval from competent authorities according to law, and
file with the secrecy administrative department at the same level; and (b) domestic company that plan to, either directly or through
its overseas listed entity, publicly disclose or provide to relevant individuals and entities including securities companies, securities
service providers and overseas regulators, any other documents and materials that, if leaked, will be detrimental to national security
or public interest, shall strictly fulfill relevant procedures stipulated by applicable national regulations.

On or after March 31, 2023,
any failure or perceived failure by the Company or PRC subsidiaries to comply with the above confidentiality and archives administration
requirements under the revised Provisions and other PRC laws and regulations may result in that the relevant entities being held legally
liable by competent authorities, and referred to a judicial organization to be investigated for criminal liability if suspected of committing
a crime.

In addition, we cannot assure
you that any new rules or regulations promulgated in the future will not impose additional requirements on us. If it is determined in
the future that approval and filing from the CSRC or other regulatory authorities or other procedures, including the cybersecurity review
under the Measures for Cybersecurity Review and the Draft Regulation on Network for Data Security (if implemented), are required for
our offshore offerings, it is uncertain whether we can or how long it will take us to obtain such approval or complete such filing procedures
and any such approval or filing could be rescinded or rejected. Any failure to obtain or delay in obtaining such approval or complete
such filing procedures for our offshore offerings, or a rescission of any such approval or filing, if obtained by us, would subject us
to sanctions by the CSRC or other PRC regulatory authorities for failure to seek CSRC approval or filing or other government authorization
for our offshore offerings. These regulatory authorities may impose fines and penalties on our