Company: ABLV
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001213900-25-034677
Chunk: 34

Company: Able View Global Inc.
Filing Date: 2025-04-23
Form: 20-F
Item: Item 3
Chunk 34
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permission or selling individual information with limited exceptions. When network operators become aware of any information that is prohibited
by laws and administrative regulations, they are required to immediately cease transmission of such information, and take measures such
as deletion of relevant information to prevent its dissemination. Operators must maintain a record of these incidents when they occur
and report them to the relevant authorities, who may also request for such reports. Where any prohibited information comes from outside
the territory of China, the authorities may additionally request that all relevant institutions take measures to stop the dissemination
of such prohibited information.

In addition, on November 14, 2021, the
Regulations on the Network Data Security (Draft for Comments), or the Network Data Security Draft Regulations, was proposed by the
CAC for public comments until December 13, 2021, which applies to activities relating to the use of networks to carry out data processing
activities within the territory of the PRC. The Network Data Security Draft Regulations set out general guidelines, protection of
personal information, security of important data, security management of cross-border data transfer, obligations of internet platform
operators, supervision and management, and legal liabilities. In accordance with the Network Data Security Draft Regulations, data processors
shall apply for a cybersecurity review for the following activities: (i) merger, reorganization or division of internet platform
operators that have acquired a large number of data resources related to national security, economic development or public interests to
the extent that affects or may affect national security; (ii) listing abroad of data processors which process over one million users’
personal information; (iii) data processors listing in Hong Kong which affects or may affect national security; or (iv) other
data processing activities that affect or may affect national security. Besides, data processors that are listed overseas shall carry
out an annual data security assessment. As of the date of this Report, the Network Data Security Draft Regulation was released for public
comment only and its final version and effective date may be subject to change with substantial uncertainty.

On December 28, 2021, the CAC, and other
twelve PRC regulatory authorities jointly revised and promulgated the Measures for Cyber Security Review, or the New Measures
for Cyber Security Review, which came into effect on February 15, 2022 and replace the prior Measures for Cyber Security Review promulgated
on April 13, 2020. The New Measures for Cyber Security Review provides that, among others, (i) the purchase