Company: CAAS
Filing Date: 2025-08-04
Form Type: 424B3
Source: 0001104659-25-073486
Chunk: 20

Company: China Automotive Systems, Inc.
Filing Date: 2025-08-04
Form: 424B3
Chunk 20
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 Accountable
Act, if the SEC determines that we have filed audit reports issued by a registered public accounting firm that has not been subject to
inspections by the PCAOB for two consecutive years, the SEC will prohibit our securities from being traded on a national securities exchange
or in the over-the-counter trading market in the United States. On December 16, 2021, the PCAOB issued a report to notify the SEC
of its determination that the PCAOB was unable to inspect or investigate completely registered public accounting firms headquartered
in mainland China and Hong Kong, including our auditor. In May 2022, the SEC conclusively listed the Company as a Commission-Identified
Issuer under the HFCAA following the filing of the annual report on Form 10-K for the fiscal year ended December 31, 2021.
On December 15, 2022, the PCAOB issued a report that vacated its December 16, 2021 determination and removed mainland China
and Hong Kong from the list of jurisdictions where it is unable to inspect or investigate completely registered public accounting firms.
For this reason, we do not expect to be identified as a Commission-Identified Issuer under the HFCAA after we filed annual report on
Form 10-K for the fiscal year ended December 31, 2024. Each year, the PCAOB will determine whether it can inspect and investigate
completely audit firms in mainland China and Hong Kong, among other jurisdictions. If PCAOB determines in the future that it no longer
has full access to inspect and investigate completely accounting firms in mainland China and Hong Kong and we continue to use an accounting
firm headquartered in one of these jurisdictions to issue an audit report on our financial statements filed with the Securities and Exchange
Commission, we would be identified as a Commission-Identified Issuer following the filing of the annual report on Form 10-K (or
in case of CAAS Cayman, on Form 20-F) for the relevant fiscal year. There can be no assurance that we would not be identified as
a Commission-Identified Issuer for any future fiscal year, and if we were so identified for two consecutive years, we would become subject
to the prohibition on trading under the HFCAA and our securities may be delisted from Nasdaq as a result. Delisting of our securities
would force holders of our securities to sell their securities. Further, we may be prohibited from listing our securities on another
U.S. securities exchange. The market price