Company: SOS
Filing Date: 2025-07-02
Form Type: S-8
Source: 0001213900-25-061032
Chunk: 15

Company: SOS Ltd
Filing Date: 2025-07-02
Form: S-8
Chunk 15
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 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 Severely Cracking
Down on Illegal Securities Activities According to Law (the “Opinions”). The Opinions stressed the need to strengthen the
administration over illegal securities activities and the supervision over overseas listings by Chinese companies. Effective measures,
such as promoting the construction of relevant regulatory systems, will be taken to deal with the risks and incidents of China-related
overseas listed companies.

On November 14, 2021, the CAC promulgated the
draft Regulations on the Administration of Cyber Data Security (Draft for Comments) (the “Draft CAC Regulation”), which has
not yet become effective. The Draft CAC Regulation provides that data processors that conduct the following activities must apply for
cybersecurity review: (1) merger, reorganization or spin-off of Internet platform operators holding a large amount of data resources related
to national security, economic development or public interests, which may have an adverse effect on national security; (2) data processors
intending to list their securities on a foreign stock exchange that handle personal information of more than one million people; (3) data
processors intending to list their securities on a stock exchange in Hong Kong which may have an adverse effect on national security;
and (4) other data processing activities that may have an adverse effect on national security.

On December 28, 2021, the CAC, jointly with 12
other governmental authorities, promulgated the revised Cybersecurity Review Measures (2021), which became effective on February 15, 2022.
According to the Cybersecurity Review Measures (2021), critical information infrastructure operators that intend to purchase internet
products and services which may have an adverse effect on national security must apply for cybersecurity review. Meanwhile, online platform
operators holding personal information of over one million users that intend to list their securities on a foreign stock exchange must
apply for cybersecurity review. In the meantime, the governmental authorities have the discretion to initiate a cybersecurity review on
any data processing activity if they deem such a data processing activity affects or may affect national security. The specific implementation
rules on cybersecurity review are subject to further clarification by subsequent regulations.

On July 7, 2022, the CAC promulgated the Measures
for the Security Assessment of Cross-Border Transfer of Data, which took effect on September 1, 2022. These measures aim to regulate cross