Company: ATMCW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004801
Chunk: 1572

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 1572
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 business combination and diversion
of our managerial and financial resources. There is no guarantee that we can receive such approval in a timely manner, and we may also
be prevented from pursuing certain investment opportunities if the PRC government considers that the potential investments will result
in a significant national security issue. If obtained, since our Business Combination period is 24 months from the closing of our Initial
Public Offering, or if we decide to extend the period of time to consummate our Business Combination, 33 months from the closing of our
Initial Public Offering (as further described in this Form 10-K), and the approval process may take a period longer than we expect before
we enter into a definitive agreement with a target company, we may be unable to complete a Business Combination within 24 months from
the closing of our Initial Public Offering, or if we decide to extend the period of time to consummate our Business Combination, within
33 months from the closing of our Initial Public Offering (as further described in our Registration Statement).

In
light of recent events indicating greater oversight by the CAC over data security, particularly for companies seeking to list on a foreign
exchange, companies with more than one million users’ personal information in China, especially some internet and technology companies,
may not be willing to list on a U.S. exchange or enter into a definitive business combination agreement with us. Further, we may also
avoid conduct a Business Combination with a company with more than one million users’ personal information in China due to the
limited timeline for us to complete a Business Combination.

Companies
in China are subject to various risks and costs associated with the collection, use, sharing, retention, security, and transfer of confidential
and private information, such as personal information and other data. This data is wide ranging and relates to our investors, employees,
contractors and other counterparties and third parties. If we decide to initiate a Business Combination with a company in China, our
compliance obligations include those relating to the Data Protection Act (As Revised) of the Cayman Islands and the relevant PRC laws
in this regard. These PRC laws apply not only to third-party transactions, but also to transfers of information between a holding company
and its subsidiaries. These laws continue to develop, and the PRC government may adopt other rules and restrictions in the future. Non-compliance
could result in penalties or other significant legal liabilities.

Pursuant
to the PRC Cybersecurity Law, which was promulgated by the Standing Committee