Company: ZDAN
Filing Date: 2025-02-18
Form Type: DRS/A
Source: 0001683168-25-001085
Chunk: 187

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-02-18
Form: DRS/A
Chunk 187
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 in mainland China,
or its main place(s) of business are located in mainland China, or the majority of senior management staffs in charge of its business
operations and management are PRC citizens or have their usual place(s) of residence located in mainland China. The determination of
indirect overseas issuance and listing by domestic enterprises shall be made on a substance over form basis. Where an issuer submits
an application for initial public offering to competent overseas regulators, such issuer must file with the CSRC within three business
days after such application is submitted. The Trial Measures also requires subsequent reports to be filed with the CSRC on material events,
such as changes of control or voluntary or forced delisting of the issuer(s) who have completed overseas offerings and listings.

On February 17, 2023, the
CSRC issued the Notice on Administration for the Filing of Overseas Offering and Listing by Domestic Companies. The CSRC clarified that
on the effective date of the Trial Measures, the domestic enterprises that have mentioned a valid overseas listing application and have
not received the consent of the overseas regulator or overseas stock exchange may reasonably arrange the timing of filing the application
and should complete the filing before the overseas offering and listing.

| 118 |

Based on the foregoing,
our PRC Legal Advisers are of the view that we are required to complete the filing procedures with the CSRC in connection with the overseas
listing.

On February 24, 2023, the
CSRC, together with the Ministry of Finance, the National Administration of State Secrets Protection Bureau and the National Archives
Administration issued the Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and
Listing by Domestic Companies, which became effective on March 31, 2023 and sets forth the requirements for the confidentiality and archives
administration of direct or indirect overseas listings of domestic enterprises.

Regulations Relating to the VIE’s Business

Regulations on Computer Software

In accordance with the Regulations
on the Protection of Computer Software promulgated by the State Council on June 4, 1991 and latest amended on January 30, 2013, with
the latest revision effective on March 1, 2013, Chinese citizen, legal person or other organization is entitled under the copyright of
the software he/it has developed, including the right of publication, right of acknowledgement, right of alteration, right of reproduction,
right of distribution, right of leasing, right of dissemination, right of translation and other rights that