Company: AOAO
Filing Date: 2025-09-16
Form Type: S-1/A
Source: 0001493152-25-013575
Chunk: 39

Company: Alpha One Inc.
Filing Date: 2025-09-16
Form: S-1/A
Chunk 39
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 Ltd.

Pursuant
to the FIL, the State Council shall promulgate or approve a list of special administrative measures for access of foreign investments,
which is referred to as “the Negative List.” The FIL grants treatment to foreign investors and their investments at the market
access stage which is no less favorable than that given to domestic investors and their investments, except for the investments of foreign
investors in industries deemed to be either “restricted” or “prohibited” on the Negative List. The FIL provides
that foreign investors shall not invest in the “prohibited” industries on the Negative List and shall meet such requirements
as stipulated by the Negative List for making investment in “restricted” industries on the Negative List. Accordingly, the
National Development and Reform Commission, or the NDRC, and the Ministry of Commerce promulgated the Negative List (2021), which took
effect on January 1, 2022, and the NDRC and the Ministry of Commerce promulgated the Encouraged Industry Catalogue for Foreign Investment
(2022 version), or the 2022 Encouraged Industry Catalogue, which took effect on January 1, 2023. Industries not listed on the Negative
List (2021) are generally open for foreign investments unless specifically restricted by other PRC laws. We are engaged in the trading of intelligent products and the construction of telecommunication engineering services
not including the restricted category “telecommunication value-added service”. Since our current
business is not on the 2021 Negative List, to the best of our knowledge, it will not create any material adverse effect to our Company’s
business.

On September 6,
2024, the Chinese government released the latest “Special Administrative Measures (Negative List) for Foreign Investment Access
(2024 Edition)”, which will take effect on November 1, 2024. The new Negative list has been reduced from 31 items to 29 items,
and some specific restrictions in the manufacturing field have been removed including the deletion of the requirement that “publication
printing must be controlled by Chinese parties” and the deletion of prohibiting foreign investment in the production of traditional
Chinese medicine decoction pieces processing technology and products with confidential prescriptions of proprietary Chinese medicines.
This marks the complete removal of restrictions on foreign investment access in the manufacturing field. Our current and planned business
is neither on the 2021 Negative List Edition nor on the 2024 Edition. Thus, to the best of our knowledge, we believe the 2024