Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 92

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1
Chunk 92
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 than 1 million users who want to list
abroad to file a cybersecurity review with the CAC. As these opinions and the draft measurers were recently issued, official guidance
and interpretation of these two remain unclear in several respects at this time.

If,
for example, our potential initial business combination is with a target business operating in the PRC and if the enacted version of
the draft measures mandates clearance of cybersecurity review and other specific actions to be completed by the target business, we may
face uncertainties as to whether such clearance can be timely obtained, or at all, and incur additional time delays to complete any such
acquisition. Cybersecurity review could also result in negative publicity with respect to our initial business combination and diversion
of our managerial and financial resources. There is no guarantee that we can receive such approval in a timely manner, and we may also
be prevented from pursuing certain investment opportunities if the PRC government considers that the potential investments will result
in a significant national security issue. If obtained, since our business combination period is 18 months from the closing of the IPO, and the approval process may take a period longer than we expect before we enter into a definitive
agreement with a target company, we may be unable to complete a business combination within 18 months from the closing of the IPO.

  50 

In
light of recent events indicating greater oversight by the CAC over data security, particularly for companies seeking to list on a foreign
exchange, companies with more than one million users’ personal information in China, especially some internet and technology companies,
may not be willing to list on a U.S. exchange or enter into a definitive business combination agreement with us. Further, we may also
avoid conduct a business combination with a company with more than one million users’ personal information in China due to the
limited timeline for us to complete a business combination.

Companies
in China are subject to various risks and costs associated with the collection, use, sharing, retention, security, and transfer of confidential
and private information, such as personal information and other data. This data is wide ranging and relates to our investors, employees,
contractors and other counterparties and third parties. If we decide to initiate a business combination with a company in China, our
compliance obligations include those relating to the Data Protection Act (As Revised) of the Cayman Islands and the relevant PRC laws
in this regard. These PRC laws apply not only to third-party transactions, but also to transfers of