Company: RAYA
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001185185-25-001296
Chunk: 163

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-09-29
Form: 424B5
Chunk 163
---
, the PCAOB issued a report
on its determinations that it is unable to inspect or investigate completely PCAOB-registered public accounting firms headquartered in
mainland China and in Hong Kong, because of positions taken by PRC authorities in those jurisdictions.

On August 26, 2022, the PCAOB announced that it
had signed a Statement of Protocol (the “SOP”) with the China Securities Regulatory Commission and the Ministry of Finance
of China. The SOP, together with two protocol agreements governing inspections and investigations (together, the “SOP Agreement”),
establishes a specific, accountable framework to make possible complete inspections and investigations by the PCAOB of audit firms based
in mainland China and Hong Kong, as required under U.S. law. On December 15, 2022, the PCAOB announced that it was able to secure complete
access to inspect and investigate PCAOB-registered public accounting firms headquartered in mainland China and Hong Kong completely in
2022. The PCAOB Board vacated its previous 2021 determinations that the PCAOB was unable to inspect or investigate completely registered
public accounting firms headquartered in mainland China and Hong Kong. However, whether the PCAOB will continue to be able to satisfactorily
conduct inspections of PCAOB-registered public accounting firms headquartered in mainland China and Hong Kong is subject to uncertainties
and depends on a number of factors out of our and our auditor’s control. The PCAOB continues to demand complete access in mainland
China and Hong Kong moving forward and is making plans to resume regular inspections in early 2023 and beyond, as well as to continue
pursuing ongoing investigations and initiate new investigations as needed. The PCAOB has also indicated that it will act immediately to
consider the need to issue new determinations with the HFCAA if needed.

Our auditors, TPS Thayer and Fortune CPA, the
independent registered public accounting firms, as auditors of companies that are traded publicly in the United States and a firm registered
with the PCAOB, are subject to laws in the United States pursuant to which the PCAOB conducts regular inspections to assess TPS Thayer
and Fortune CPA’s compliance with applicable professional standards. TPS Thayer is headquartered in Sugar Land, Texas and Fortune
CPA is headquartered in Orange, California. As of the date of this prospectus, Neither TPS Thayer nor Fortune CPA is included in the
list of PCAOB Identified Firms in the PCAOB Determination Report issued in December