Company: SOS
Filing Date: 2025-03-14
Form Type: F-3
Source: 0001213900-25-024134
Chunk: 7

Company: SOS Ltd
Filing Date: 2025-03-14
Form: F-3
Chunk 7
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 securities
to be prohibited under the HFCA Act, and ultimately result in a determination by a securities exchange to delist our securities. In addition,
on August 26, 2022, the PCAOB signed a Statement of Protocol (the “SOP”) Agreement with the CSRC and China’s Ministry
of Finance. The SOP Agreement, together with two protocol agreements (collectively, “SOP Agreements”), governs inspections
and investigations of audit firms based in mainland China and Hong Kong, taking the first step toward opening access for the PCAOB to
inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong. Pursuant to the fact sheet with
respect to the Protocol disclosed by the SEC, the PCAOB shall have independent discretion to select any issuer audits for inspection or
investigation and has the unfettered ability to transfer information to the SEC. On December 15, 2022, the PCAOB Board determined that
the PCAOB was able to secure complete access to inspect and investigate registered public accounting firms headquartered in mainland China
and Hong Kong and voted to vacate its previous determinations to the contrary. However, should PRC authorities obstruct or otherwise fail
to facilitate the PCAOB’s access in the future, the PCAOB Board will consider the need to issue a new determination. For more details,
see “Risk Factors—Risks Related to Doing Business in China—The PRC operating entity must conduct its business activities
substantially subject to PRC laws, regulations and administration. If the Chinese government significantly regulates our operating entity’s
business operations in the future and it is not able to substantially comply with such regulations, our operating entity’s business
operations may be materially adversely affected, and the value of our Class A ordinary shares may significantly decrease,” “Risk
Factors—Risks Related to Doing Business in China—Changes, application and interpretation with respect to the applicable legal
laws/regulations, and economic policies for our PRC subsidiaries, could result in a material change in our operations and/or the value
of the securities we are registering for sale,” and “Risk Factors—Risks Related to Doing Business in China—Our
ADSs may be prohibited from trading in the United States under the HFCA ACT in the future if the PCAOB is unable to inspect or investigate
completely of our auditor. The delisting of the ADSs, or the threat of their being delisted, may materially and adversely affect the value
of your investment.”

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