Company: YIBO
Filing Date: 2025-06-03
Form Type: F-3
Source: 0001213900-25-050771
Chunk: 29

Company: Planet Image International Ltd
Filing Date: 2025-06-03
Form: F-3
Chunk 29
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 unless otherwise regulated by other laws and regulations. On June 9, 2016, SAFE further issued the Circular of the State Administration
of Foreign Exchange on Reforming and Regulating Policies on the Control over Foreign Exchange Settlement of Capital Accounts, or SAFE
Circular 16, which, among other things, amended certain provisions of Circular 19. According to SAFE Circular 19 and SAFE Circular 16,
the flow and use of the RMB capital converted from foreign currency-denominated registered capital of a foreign invested company is regulated
such that Renminbi capital may not be used for purposes beyond its business scope or to provide loans to non-affiliates unless otherwise
permitted under its business scope. On October 23, 2019, SAFE promulgated the Circular of the State Administration of Foreign Exchange
on Further Promoting the Facilitation of Cross-Border Trade and Investment, or SAFE Circular 28, which removes the restrictions on domestic
equity investments by non-investment foreign-invested enterprises with their capital funds, provided that certain conditions are met.
The applicable foreign exchange circulars and rules may limit our ability to transfer the net proceeds from our securities offerings to
our Mainland PRC subsidiaries and convert the net proceeds into RMB, which may adversely affect our business, financial condition, and
results of operations. See “Item 3. Key Information—D. Risk Factors—Risks Relating to Doing Business in the PRC—PRC regulations of loans and direct investment by offshore holding companies to Mainland PRC entities may delay or prevent us from using the proceeds of our offshore financing to make loans or additional capital contributions to our Mainland PRC subsidiaries, which could materially and adversely affect our liquidity and our ability to fund and expand our business” in the 2024 Annual Report.

From our Hong Kong PRC subsidiaries to their parent companies

Other than Mainland China, operating subsidiaries
formed in Hong Kong contributed a material amount of our revenue in the years ended December 31, 2022, 2023, and 2024. For our Hong Kong
subsidiaries to distribute earnings outside Hong Kong, certain daily remittance limits will be imposed by Hong Kong laws and processing
banks. Additionally, such remittances should not be used for money laundering or terrorist financing purposes. Registered institutes,
such as banks, have their own internal policies, procedures, and controls in the relevant operational areas so as to meet their anti-money
laundering and counter-financing of terrorism