Company: ZDAN
Filing Date: 2025-06-30
Form Type: F-1
Source: 0001683168-25-004840
Chunk: 187

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-06-30
Form: F-1
Chunk 187
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 Companies and relevant five guidelines, which became effective on March 31, 2023. The Trial
Measures regulates both direct and indirect overseas offering and listing of PRC domestic companies’ securities by adopting a filing-based
regulatory regime. If an issuer makes an initial overseas listing or offering, it shall file a record with CSRC within 3 working days
after the issuance and listing application documents are submitted overseas. If the issuer issues securities in the same overseas market
after the issuance and listing overseas, it shall file a record with CSRC within 3 working days after the completion of the issue.

The Trial Measures provides
that an overseas listing or offering is explicitly prohibited, if any of the following: (i) such securities offering and listing is explicitly
prohibited by provisions in laws, administrative regulations and relevant state rules; (ii) the intended securities offering and listing
may endanger national security as reviewed and determined by competent authorities under the State Council in accordance with law; (iii)
the domestic company intending to make the securities offering and listing, or its controlling shareholder(s) and the actual controller,
have committed relevant crimes such as corruption, bribery, embezzlement, misappropriation of property or undermining the order of the
socialist market economy during the latest three years; (iv) the domestic company intending to make the securities offering and listing
is currently under investigations for suspicion of criminal offenses or major violations of laws and regulations, and no conclusion has
yet been made thereof; or (v) there are material ownership disputes over equity held by the domestic company’s controlling shareholder(s)
or by other shareholder(s) that are controlled by the controlling shareholder(s) and/or actual controller.

The Trial Measures also
provides that if the issuer both meets the following criteria, the overseas securities offering and listing conducted by such issuer
will be deemed as indirect overseas offering by PRC domestic companies: (i) 50% or more of any of the issuer’s operating revenue,
total profit, total assets or net assets as documented in its audited consolidated financial statements for the most recent fiscal year
is accounted for by domestic companies; and (ii) the main parts of the issuer’s business activities are conducted in mainland China,
or its main place(s) of business are located in mainland China, or the majority of senior management staffs in charge of its business
operations and management are PRC citizens or have their usual place(s) of residence located in mainland China. The determination of
indirect overseas issuance and listing