Company: SOS
Filing Date: 2025-03-14
Form Type: F-3
Source: 0001213900-25-024134
Chunk: 55

Company: SOS Ltd
Filing Date: 2025-03-14
Form: F-3
Chunk 55
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 determine the impact such future laws, rules,
regulations and standards may have on our business.

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Moreover, we may not disclose any personal
data or information, unless required by the competent PRC authorities through certain procedures required by the laws, for the purpose
of, among others, safeguarding the national security, investigating crimes, investigating infringement of information network communications
rights, or cooperating with the supervision and inspection of telecommunications regulatory authorities. Failure to comply with these
requirements could subject us to fines and penalties.

Trading in our securities on any U.S. stock exchange and the U.S. over the counter market may be prohibited under the HFCA Act or the Accelerating Holding Foreign Companies Accountable Act if the SEC subsequently determines our audit work is performed by auditors that the PCAOB is unable to inspect or investigate completely, and as a result, U.S. national securities exchanges, such as the Nasdaq, may determine to delist our securities, and our securities may be prohibited from being traded over the counter.

The HFCA Act was enacted on December 18, 2020.
The HFCA Act states if the SEC determines that we have filed audit reports issued by a registered public accounting firm that has not
been subject to inspection by the PCAOB for three consecutive years beginning in 2021, the SEC shall prohibit our shares or ADSs from
being traded on a national securities exchange or in the over the counter trading market in the United States.

On March 24, 2021, the SEC adopted interim
final rules relating to the implementation of certain disclosure and documentation requirements of the HFCA Act. A company will be required
to comply with these rules if the SEC identifies it as having a “non-inspection” year under a process to be subsequently established
by the SEC. The SEC is assessing how to implement other requirements of the HFCA Act, including the listing and trading prohibition requirements
described above. Furthermore, on June 22, 2021, the U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act, which,
if enacted, would amend the HFCA Act and require the SEC to prohibit an issuer’s securities from trading on any U.S. stock exchanges
if its auditor is not subject to PCAOB inspections for two consecutive years instead of three. On September 22, 2021, the PCAOB adopted
a final rule implementing the HFCA Act, which provides a framework for the PCAOB to use when determining, as