Company: RAYA
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001213900-25-070321
Chunk: 53

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-08-01
Form: 424B5
Chunk 53
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 by us.                                                                                       |

You should read this table together with our consolidated
financial statements and notes included in the information incorporated by reference into this prospectus supplement and the accompanying
prospectus.

<div align='center'>As of December 31, 2024

(All amounts in thousands of USD, except for share and per share data, unless otherwise noted)</div>

|                                                                                                                                                                                                     |     | Actual |            |   |     | Pro forma As Adjusted |            |   |     | Pro forma As Further Adjusted |            |   |
|:----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:-------|-----------:|:--|:----|:----------------------|-----------:|:--|:----|:------------------------------|-----------:|:--|
| Cash and cash equivalents                                                                                                                                                                           |     | $      |  1,324,809 |   |     |                       |  4,144,809 |   |     |                               | 10,494,809 |   |
| Short-term debts, including amount due to a related party                                                                                                                                           |     |        | 15,534,264 |   |     |                       | 15,534,264 |   |     |                               | 15,534,264 |   |
| Long-term debt                                                                                                                                                                                      |     |        |  3,913,204 |   |     |                       |  3,913,204 |   |     |                               |  3,913,204 |   |
| Total indebtedness                                                                                                                                                                                  |     | $      | 19,447,468 |   |     |                       | 19,447,468 |   |     |                               | 19,447,468 |   |
| Shareholders’ equity:                                                                                                                                                                               |     |        |            |   |     |                       |            |   |     |                               |            |   |
| Class A Ordinary shares: 49,588,235 shares outstanding on actual basis; 80,200,481 shares outstanding on as adjusted basis; 187,892,788 shares outstanding on a pro forma as further adjusted basis |     |        |      4,959 |   |     |                       |      8,020 |   |     |                               |     18,789 |   |
| Class B Ordinary shares: 1,000,000 shares outstanding                                                                                                                                               |     |        |        100 |   |     |                       |        100 |   |