Company: LICN
Filing Date: 2025-01-29
Form Type: 424B5
Source: 0001213900-25-007741
Chunk: 135

Company: Lichen International Ltd
Filing Date: 2025-01-29
Form: 424B5
Chunk 135
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 could be “affected, controlled, and
maliciously exploited by foreign governments,” The cybersecurity review will also investigate the potential national security risks
from overseas IPOs. We do not know what regulations will be adopted or how such regulations will affect us and our listing on Nasdaq.
In the event that the Cyberspace Administration of China determines that we are subject to these regulations, we may be required to delist
from Nasdaq and we may be subject to fines and penalties. On June 10, 2021, the Standing Committee of the NPC promulgated the PRC
Data Security Law, which took effect on September 1, 2021. The Data Security Law also sets forth the data security protection obligations
for entities and individuals handling personal data, including that no entity or individual may acquire such data by stealing or other
illegal means, and the collection and use of such data should not exceed the necessary limits The costs of compliance with, and other
burdens imposed by, CSL and any other cybersecurity and related laws may limit the use and adoption of our products and services and could
have an adverse impact on our business. Further, if the enacted version of the Measures for Cybersecurity Review mandates clearance of
cybersecurity review and other specific actions to be completed by companies like us, we face uncertainties as to whether such clearance
can be timely obtained, or at all.

<div align='center'>26</div>

On July 10, 2021, the Cyberspace Administration
of China issued a revised draft of the Measures for Cybersecurity Review for public comments (the “Review Measures”), and
on December 28, 2021, the Cyberspace Administration of China jointly with the relevant authorities published Measures for Cybersecurity
Review (2021) which took effect on February 15, 2022 and replace the Review Measures, which required that, operators of critical
information infrastructure purchasing network products and services, and data processors (together with the operators of critical information
infrastructure, the “Operators”) carrying out data processing activities that affect or may affect national security, shall
conduct a cybersecurity review, any operator who controls more than one million users’ personal information must go through a cybersecurity
review by the cybersecurity review office if it seeks to be listed in a foreign country.

Under the Data Security Law enacted on September 1,
2021 and the Measures for Cybersecurity Review (2021) implemented on February 15, 2022, since we are not an Operator