Company: IMG
Filing Date: 2025-07-30
Form Type: 10-K/A
Source: 0001641172-25-021542
Chunk: 2

Company: CIMG Inc.
Filing Date: 2025-07-30
Form: 10-K/A
Chunk 2
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 AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE                                   | 67 |
| ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES                                                                      | 67 |
| PART IV                                                                                                              | 69 |
| ITEM 15. EXHIBIT AND FINANCIAL STATEMENT SCHEDULES                                                                   | 69 |
| ITEM 16. FORM 10-K SUMMARY                                                                                           | 71 |
| SIGNATURES                                                                                                           | 72 |

| 2 |

Our Holding Company Structure and Risks Related to Doing Business in China

Our business operations are partially based in China, and our PRC Subsidiaries are subject to certain legal and operational risks associated with being based in China. On December 28, 2021, the Cyberspace Administration of China (“CAC”), and 12 other relevant PRC government authorities published the amended Cybersecurity Review Measures, which came into effect on February 15, 2022. The final Cybersecurity Review Measures provide that a “network platform operator” that possesses personal information of more than one million users and seeks a listing in a foreign country must apply for a cybersecurity review. Further, the relevant PRC governmental authorities may initiate a cybersecurity review against any company if they determine certain network products, services, or data processing activities of such company affect or may affect national security. As of the date of this report, our Company and its subsidiaries have not been involved in any investigations on cybersecurity review initiated by any PRC regulatory authority, nor has any of them received any inquiry, notice or sanction. As advised by our PRC counsel, Guangdong Shenmou Law Firm (“Guangdong Shenmou”), we do not believe that we are subject to: (a) the cybersecurity review with the CAC, as we do not possess a large amount of personal information in our business operations, and our business does not involve the collection of data that affects or may affect national security, implicates cybersecurity, or involves any type of restricted industry; or (b) merger control review by China’s anti-monopoly enforcement agency due to the fact that we do not engage in monopolistic behaviors that are subject to these statements or regulatory actions.

On February 17, 2023, the China Securities Regulatory Commission (“CSRC”) issued the Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies, or the Trial Measures, which became effective on March 31, 2023. Pursuant to the Trial Measures, domestic companies that seek to offer or list securities overseas