Company: ZDAN
Filing Date: 2025-06-30
Form Type: F-1
Source: 0001683168-25-004840
Chunk: 175

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-06-30
Form: F-1
Chunk 175
---
 digital services, and digital wallets, serving as an essential infrastructure in the digital age. Decentralized distributed
technology is one of the core technologies digital identities rely on. It can effectively avoid single-point failures and data tampering,
thus ensuring safer and more independent identity verification and management. Key participants in this field include Civic, Digital
Bazaar, Evernym, WeBank, and ArcBlock.

Regarding data services, enterprises such as
Yunxiang Network, Zhongan Technology, Shuju Technology, JD Intelligent Chain and AntChain provide data based on decentralized distributed
technology. This includes data acquisition, analysis, processing, and management. As decentralized distributed technology continues to
evolve and application scenarios broaden, the demand for such services is also growing.

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| 3. | Downstream: application 
 development             |

The downstream of the industrial chain primarily
comprises various application extensions of decentralized distributed technology, which can be divided into three main categories: public
services, industry applications, and frontier applications. These primarily provide either generic service products or customized project
implementations according to customer needs, serving as the primary service providers that are closest to end users and offering actual
application scenarios.

Decentralized distributed technology has been
widely applied to public service areas such as education, judiciary, healthcare, and public welfare. Companies like Educoin, Zhilian,
and Tencent Weixiao have applied this technology in education. Organizations and businesses such as NCSC, Congfa Technology, XUPER Baidu
Superchain, and Beijing Internet Court have utilized this technology in the judicial sector. In healthcare, companies like Philips, Neusoft,
Patientory, and Xinyi are starting to leverage decentralized distributed technology to improve the quality and efficiency of healthcare
services. Moreover, organizations like JD Public Welfare, China Red Cross Society, and BitGive are capitalizing on the benefits of this
technology in the public welfare field.

Current Stage of Development

In summary, the decentralized distributed technology
industry is still in its early stage of development, but the basic technological framework and development direction have begun to take
shape. According to a technology maturity curve analysis report released by Gartner, Inc. (“Gartner”) in July 2022, decentralized
distributed technology has now experienced its first peak of innovation, gradually moving from the innovation trigger phase to the peak
of inflated expectation phase.

<div align='center'>Technology Maturity Curve of Decentralized Distributed
Technology</div>

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Market Scale

From the