Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 1

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 3
Chunk 1
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 to delay, limit or terminate our product development efforts or other operations;         
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  shortages                                                                                         

  our                                                                                                 

  we                                                                                              

  if                                                                                            
  we are unable to obtain, maintain and protect effective intellectual property rights for      
  our products throughout the world, we may not be able to compete effectively in our markets;  
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  the                                                                                                
  market price of our ordinary shares may be volatile or may decline steeply or suddenly regardless  
  of our operating performance, and we may not be able to meet investor or analyst expectations.     
  You may not be able to resell your ordinary shares at or above the price you paid for them         
  and may lose all or part of your investment;                                                       
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  our                                                                                              

  our                                                                                             

  we                                                                          

  if                                                                                            

  conditions                                                     

Risks Related to Our Business and Industry

We invest significant effort and capital
seeking validation of our light and vision control products with OEMs and Tier 1 suppliers, mainly in the aeronautics and automobile
markets, and there can be no assurance that we will win production models, which could adversely affect our future business, results
of operations and financial condition.

Our light and vision control
products are technologically complex, incorporate many technological innovations, and are subject to rigorous testing and certification.
We invest significant effort and capital with OEMs, and Tier 1 suppliers to seek validation of our light and vision control products
in the end products manufactured by OEMs, such as vehicles, trains, commercial jets and helicopters, which we refer to as a “design
win.” The development cycles of our light and vision control products with new OEMs and Tier 1 supplier customers are approximately
one to four years following a design win, based on our past experience with customers. These development cycles result in our investing
of resources prior to realizing any revenues.

The OEM acquires our
products either directly from us or through a Tier 1 supplier, which integrates our light and vision control products into a
complete product that it manufactures. These OEMs and suppliers undertake extensive testing or qualification processes prior to
placing orders for large quantities of our light and vision control products because such products will function as part of a larger
system or product and