Company: RAYA
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001213900-25-070321
Chunk: 54

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-08-01
Form: 424B5
Chunk 54
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     |                               |        100 |   |
| Additional Paid-in capital                                                                                                                                                                          |     |        | 18,641,264 |   |     |                       | 21,863,019 |   |     |                               | 28,627,433 |   |
| Statutory surplus reserve                                                                                                                                                                           |     |        |  1,123,204 |   |     |                       |  1,123,204 |   |     |                               |  1,123,204 |   |
| Retained earnings                                                                                                                                                                                   |     |        |  8,061,204 |   |     |                       |  8,061,204 |   |     |                               |  8,061,204 |   |
| Accumulated other comprehensive loss                                                                                                                                                                |     |        | (1,244,996 | ) |     |                       | (1,244,996 | ) |     |                               | (1,244,996 | ) |
| Total Shareholders’ Equity                                                                                                                                                                          |     | $      | 26,585,735 |   |     |                       | 29,585,735 |   |     |                               | 36,585,735 |   |
| Total capitalization                                                                                                                                                                                |     | $      | 46,033,203 |   |     |                       | 49,033,203 |   |     |                               | 56,033,203 |   |

Notes:

| (1) | Additional paid-in capital reflects the sale of Class A Ordinary Shares                                                                        
 in this offering at a public offering price of $0.065 per share, and after deducting the estimated offering expenses payable by us. The        
 pro forma as further adjusted information is illustrative only. We estimate that such net proceeds will be approximately $6,350,000, assuming  
 all Pre-funded Warrants are exercised ($7,000,000 gross offering proceeds, less the estimated offering expenses payable by us of approximately 
 $650,000).                                                                                                                                     |

<div align='center'>S-21

DILUTION</div>

Our net tangible book value on December 31, 2024
was US$20,065,860, or US$0.40 per Class A ordinary share. “Net tangible book value” is total assets minus the sum of liabilities
and intangible assets. “Net tangible book value per share” is net tangible book value divided by the total number of shares
outstanding.

After giving