Company: IDVV
Filing Date: 2025-09-18
Form Type: 10-12G/A
Source: 0001683168-25-007099
Chunk: 45

Company: ModuLink Inc.
Filing Date: 2025-09-18
Form: 10-12G/A
Chunk 45
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 sub-lent to a third party; or |
| · | directly or indirectly used for expenses related to the purchase of real estate that is not for self-use (except for foreign-invested real estate enterprises).                                                                                                        |

Circular 16 was issued by SAFE on June 9,
2016. Pursuant to Circular 16, enterprises registered in the PRC may also convert their foreign debts from foreign currency to Renminbi
on a self-discretionary basis. Circular 16 provides an integrated standard for conversion of foreign exchange capital items (including
but not limited to foreign currency capital and foreign debts) on a self-discretionary basis applicable to all enterprises registered
in the PRC. Circular 16 reiterates the principle that an enterprise’s Renminbi capital converted from foreign currency-denominated
capital may not be directly or indirectly used for purposes beyond its business scope or purposes prohibited by PRC laws or regulations,
and such converted Renminbi capital shall not be provided as loans to non-affiliated entities.

PRC subsidiaries' distributions
to their offshore parents are required to comply with the requirements as described above.

While there are currently
no such restrictions on foreign exchange and our ability to transfer cash or assets between IDVV and our Hong Kong subsidiaries, there
can be no assurance that future developments in PRC laws and regulations will not result in new restrictions and limitations on our ability
to transfer funds or assets. Should such regulations affect our operations, our cash or assets in Hong Kong might become inaccessible.
Furthermore, should new restrictions be imposed on IDVV or its subsidiaries regarding the transfer or distribution of cash within the
organization, we may encounter limitations or prohibition on making transfers or distributions to entities outside of mainland China and
Hong Kong.

PRC Share Option Rules

Under the Administration Measures
on Individual Foreign Exchange Control issued by the PBOC on December 25, 2006, all foreign exchange matters involved in employee share
ownership plans and share option plans in which PRC citizens participate require approval from SAFE or its authorized branch. Pursuant
to SAFE Circular 37, PRC residents who participate in share incentive plans in overseas non-publicly-listed companies may submit applications
to SAFE or its local branches for the foreign exchange registration with respect to offshore special purpose companies. In addition, under
the Notices on Issues concerning the Foreign Exchange Administration for Domestic Individuals Participating in Share Incentive Plans of
Overseas Publicly-Listed Companies, or the Share Option Rules, issued by SAFE on