Company: ZDAN
Filing Date: 2025-07-28
Form Type: F-1/A
Source: 0001683168-25-005450
Chunk: 91

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-07-28
Form: F-1/A
Chunk 91
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 the Administration of Overseas Securities Offering and Listing by Domestic Companies,
and issued a draft of Administration Measures for the Filing of Overseas Securities Offering and Listing by Domestic Companies for public
comment. These draft measures propose to establish a new filing-based regime to regulate overseas offerings and listings by domestic
companies. Specifically, an overseas offering and listing by a PRC company, whether directly or indirectly, or whether an initial or
follow-on offering, must be filed with the CSRC. The examination and determination of an indirect offering and listing will be conducted
on a substance-over-form basis, and an offering and listing shall be deemed as a PRC company’s indirect overseas offering and listing
if the issuer meets the following conditions: (i) any of the operating income, gross profit, total assets, or net assets of the PRC enterprise
in the most recent fiscal year was more than 50% of the relevant line item in the issuer’s audited consolidated financial statement
for that year; and (ii) senior management personnel responsible for business operations and management consists of mostly PRC citizens
or are ordinarily residents in the PRC, and the principal place of business is in the PRC or carried out in the PRC. The issuer or its
affiliated PRC entity, as the case may be, shall file with the CSRC for its initial public offering, follow-on offering and other equivalent
offering activities. Particularly, the issuer shall submit the filing with respect to its initial public offering and listing within
three business days after its initial filing of the listing application, and submit the filing with respect to its follow-on offering
within three business days after the completion of the follow-on offering. Failure to comply with the filing requirements may result
in fines to the relevant PRC companies, suspension of their businesses, revocation of their business licenses and operation permits and
fines on the controlling shareholder and other responsible persons. These draft measures also set forth certain regulatory red lines
for overseas offerings and listings by PRC enterprises.

On February 17, 2023, the
CSRC issued the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies, or the Trial Measures,
which became effective on March 31, 2023. On the same date of the issuance of the Trial Measures, the CSRC circulated No. 1 to No. 5 Supporting
Guidance Rules, the Notes on the Trial Measures, the Notice on Administration Arrangements for the Filing of Overseas Listings by