Company: CAAS
Filing Date: 2025-07-01
Form Type: F-4
Source: 0001104659-25-064447
Chunk: 95

Company: China Automotive Systems, Inc.
Filing Date: 2025-07-01
Form: F-4
Chunk 95
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 in 1999 and amended in 2002 and 2019, employers must register at the designated
administrative centers and open bank accounts for depositing employees’ housing funds. Employers and employees are also required
to pay and deposit housing funds, with an amount no less than 5% of the monthly average salary of the employee in the preceding year in
full and on time.

M&A Rules and Overseas Listing

On August 8, 2006, six PRC governmental and
regulatory agencies, including the MOFCOM and the CSRC, promulgated the M&A Rules governing the mergers and acquisitions of domestic
enterprises by foreign investors, which became effective on September 8, 2006, and was revised in June 2009. The M&A Rules,
among other things, require that if an overseas company established or controlled by PRC companies or PRC citizens intends to acquire
equity interests or assets of any other PRC domestic company affiliated with the PRC citizens, such acquisition must be submitted to the
MOFCOM for approval. The M&A Rules also require that an offshore special purpose vehicle, or a special purpose vehicle formed
for overseas listing purposes and controlled directly or indirectly by PRC companies or individuals, shall obtain the approval of the
CSRC prior to overseas listing and trading of such special purpose vehicle’s securities on an overseas stock exchange.

On July 6, 2021, the General Office of the
Central Committee of the Communist Party of China and the General Office of the State Council jointly issued the Opinions on Strictly
Cracking Down Illegal Securities Activities in Accordance with Law. The abovementioned opinions emphasized the need to strengthen the
administration over illegal securities activities and the supervision on overseas listings by China-based companies. The opinions proposed
to take effective measures, such as promoting the construction of relevant regulatory systems, to deal with the risks and incidents facing
China-based overseas-listed companies and the demand for cybersecurity and data privacy protection.

On February 17, 2023, the CSRC promulgated
Trial Administrative Measures of the Overseas Securities Offering and Listing by Domestic Companies, or the Overseas Listing Trial Measures,
and relevant five guidelines, which became effective on March 31, 2023. The Overseas Listing Trial Measures comprehensively improve
and reform the former regulatory regime for overseas offering and listing of PRC domestic companies’ securities and regulate both
direct and indirect overseas offering and listing of PRC domestic companies’