Company: RAYA
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001213900-25-070321
Chunk: 161

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-08-01
Form: 424B5
Chunk 161
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 in economic conditions could negatively
impact our results of operations.

Our business is subject to the impact of natural
catastrophic events such as earthquakes, floods or power outages, political crises such as terrorism or war, and public health crises,
such as disease outbreaks, epidemics, or pandemics in the U.S. and global economies, our markets and business locations. Currently, the
rapid spread of coronavirus (COVID-19) globally has resulted in increased travel restrictions and disruption and shutdown of businesses.
Our buyers may experience financial distress, file for bankruptcy protection, go out of business, or suffer disruptions in their business
due to the coronavirus outbreak; as a result, our revenues may be impacted. The extent to which the coronavirus impacts our results will
depend on future developments, which are highly uncertain and will include emerging information concerning the severity of the coronavirus
and the actions taken by governments and private businesses to attempt to contain the coronavirus, but is likely to result in a material
adverse impact on our business, results of operations and financial condition at least for the near term.

Similarly, natural disasters, wars (including
the potential of war), terrorist activity (including threats of terrorist activity), social unrest and heightened travel security measures
instituted in response, and travel-related accidents, as well as geopolitical uncertainty and international conflict, will affect travel
volume and may in turn have a material adverse effect on our business and results of operations. In addition, we may not be adequately
prepared in contingency planning or recovery capability in relation to a major incident or crisis, and as a result, our operational continuity
may be adversely and materially affected, which in turn may harm our reputation.

The recent joint statement by the SEC and PCAOB, proposed rule changes submitted by Nasdaq, and the Holding Foreign Companies Accountable Act all call for additional and more stringent criteria to be applied to emerging market companies upon assessing the qualification of their auditors, especially the non-U.S. auditors who are not inspected by the PCAOB. These developments could add uncertainties to our offering.

On April 21, 2020, SEC Chairman Jay Clayton and
PCAOB Chairman William D. Duhnke III, along with other senior SEC staff, released a joint statement highlighting the risks associated
with investing in companies based in or have substantial operations in emerging markets including China. The joint statement emphasized
the risks associated with lack of access for the PCAOB to inspect auditors and audit work papers in China and higher risks of fraud in
em