Company: ZDAN
Filing Date: 2025-07-28
Form Type: F-1/A
Source: 0001683168-25-005450
Chunk: 105

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-07-28
Form: F-1/A
Chunk 105
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-control transaction in which a foreign investor takes control
of a PRC domestic enterprise or a foreign company with substantial PRC operations, if certain thresholds under the Provisions on Thresholds
for Prior Notification of Concentrations of Undertakings, issued by the State Council in 2008, are triggered. Moreover, the Anti-Monopoly
Law promulgated by the Standing Committee of National People’s Congress, which became effective in 2008, requires that transactions
which are deemed concentrations and involve parties with specified turnover thresholds must be cleared by State Administration for Market
Regulation, or the “SAMR,” the successive authority of MOFCOM, before they can be completed. In addition, the security review
rules issued by the State Council that became effective in September 2011 specify that mergers and acquisitions by foreign
investors that raise “national defense and security” concerns and mergers and acquisitions through which foreign investors
may acquire de facto control over domestic enterprises that raise “national security” concerns are subject to strict review
by the Ministry of Commerce, and the rules prohibit any activities attempting to bypass a security review, including by structuring
the transaction through a proxy or contractual control arrangement. In the future, we may grow our business by acquiring complementary
businesses, which may be subject to SAMR merger review. Complying with the requirements of the above-mentioned regulations and other relevant
rules to complete such transactions could be time consuming, and any required approval processes, including obtaining approval from
the Ministry of Commerce or its local counterparts may delay or inhibit our ability to complete such transactions, which could affect
our ability to expand our business or maintain our market share.

The General Office Central
Committee of the Chinese Communist Party and the General Office of the State Council jointly issued the Opinions on Severe and Lawful
Crackdown on Illegal Securities Activities, which was available to the public on July 6, 2021. These opinions emphasized the need
to strengthen the administration over illegal securities activities and the supervision on overseas listings by China-based companies.
These 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. The aforementioned
policies and any related implementation rules to be enacted may subject us to additional compliance requirements in the future. We
cannot assure you that we will remain fully compliant with all new regulatory requirements of these opinions or any