Company: SOS
Filing Date: 2025-03-14
Form Type: F-3
Source: 0001213900-25-024134
Chunk: 34

Company: SOS Ltd
Filing Date: 2025-03-14
Form: F-3
Chunk 34
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2023 20-F”), which is incorporated
in this prospectus by reference, as updated by our subsequent filings under the Exchange Act, and, if applicable, in any accompanying
prospectus supplement or documents incorporated by reference before investing in any of the securities that may be offered or sold pursuant
to this prospectus. These risks and uncertainties could materially affect our business, results of operations or financial condition and
cause the value of the securities to decline. You could lose all or part of your investment.

Risks Related to Our Business and Industry

Our and the VIEs’ failure to obtain necessary permits for offline events may subject us and the VIEs to penalties and adversely affect our and the VIEs’ business, results of operations, and financial condition.

Under PRC laws and regulations,
we and the VIEs may be required to obtain certain permits each time before we and the VIEs hold an offline event, including a security
permit to organize large-scale mass activities and a permit for temporary occupation of urban roads, depending on the estimated number
of participants and the need to temporarily occupy public roads. See “Item 4. Information on the Company — B. Business Overview
— Regulation — Regulations Relating to Security Administration of Large-scale Mass Activities and Temporary Urban Road Occupation”
in the 2023 Form 20-F. Although we and the VIEs have endeavored and will continue to endeavor to obtain all necessary permits according
to our and the VIEs’ estimate of the condition of each specific event, we cannot assure you that we and the VIEs have been or will
continue to be in full compliance with the licensing requirements for all the offline events we and the VIEs have held or will hold because
the regulatory practices with respect to an offline event vary among different regions and the local authorities retain broad discretion
in enforcing the licensing requirements. In addition, the licensing requirements in China are constantly evolving, and we and the VIEs
may be subject to more stringent regulatory requirements due to political or economic changes in the future. We cannot assure you that
we and the VIEs will be able to satisfy such regulatory requirements and as a result we and the VIEs may be unable to obtain the necessary
permits for each of our offline events in a timely manner in the future. If relevant PRC government authorities determine that we and
the VIEs are operating offline events without proper licenses or permits or impose additional restrictions on the operation of any of