Company: ABLV
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001213900-25-034677
Chunk: 32

Company: Able View Global Inc.
Filing Date: 2025-04-23
Form: 20-F
Item: Item 3
Chunk 32
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generally.

The PRC regulatory and enforcement regime with
regard to data security and data protection is evolving. On July 1, 2015, the Standing Committee of the National People’s Congress,
or the SCNPC promulgated the National Security Law of the PRC, or the New National Security Law, which took effect on the same
date and replaced the former National Security Law promulgated in 1993. The New National Security Law covers various types of national
security including technology security and information security. According to the New National Security Law, the state shall ensure that
the information system and data in important areas are secure and controllable. In addition, according to the New National Security Law,
the state shall establish national security review and supervision institutions and mechanisms, and conduct national security reviews
of key technologies and IT products and services that affect or may affect national security. In particular, we are legally obligated
under the New National Security Law to safeguard national security by, for example, providing evidence related to activities endangering
national security, providing convenience and assistance for national security work, and providing necessary support and assistance for
national security institutions, public security institutions as well as military institutions. As such, we may have to provide data to
PRC government authorities and military institutions for compliance with the New National Security Law, which may increase our expenses
and subject us to negative publicity that could harm our reputation with users and negatively affect the trading price of our ordinary
shares. In addition, on June 10, 2021, the SCNPC promulgated the Data Security Law of the PRC, or the Data Security Law, which
took effect on September 1, 2021. The Data Security Law provides a national security review procedure for those data activities that
may affect national security, and imposes export restrictions on certain data and information. As of the date of this Report, there are
uncertainties on how the New National Security Law will be implemented in practice. PRC regulators, including the SCNPC, the MIIT and
the Cybersecurity Administration of China, or the CAC, have been increasingly focused on regulation in the areas of data security and
data protection. For example, on November 7, 2016, the SCNPC promulgated the Cybersecurity Law of the PRC, or the Cybersecurity
Law, which became effective on June 1, 2017, strengthens the administration on cyber security. See “ Substantial uncertainties
exist with respect