Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 672

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1A
Chunk 672
---
 the Provisions on Strengthening Confidentiality and Archives Administration for Overseas Securities
Offering and Listing, which were issued by the CSRC and National Administration of State Secrets Protection and National Archives Administration
of China in 2009, or the Provisions. The revised Provisions were issued under the title the “Provisions on Strengthening Confidentiality
and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies,” and came into effect on March 31,
2023, together with the Trial Measures. One of the major revisions to the revised Provisions is expanding their application to cover
indirect overseas offerings and listing, as is consistent with the Trial Measures. The revised Provisions require that, among other things,
(a) a domestic company that plans to, either directly or indirectly through its overseas listed entity, publicly disclose or provide
to relevant individuals or entities, including securities companies, securities service providers, and overseas regulators, any documents
and materials that contain state secrets or working secrets of government agencies, shall first obtain approval from competent authorities
according to law, and file with the secrecy administrative department at the same level; and (b) a domestic company that plans to, either
directly or indirectly through its overseas listed entity, publicly disclose or provide to relevant individuals and entities, including
securities companies, securities service providers, and overseas regulators, any other documents and materials that, if leaked, will
be detrimental to national security or public interest, shall strictly fulfill relevant procedures stipulated by applicable national
regulations. Any failure or perceived failure by the Company and its subsidiaries to comply with the above confidentiality and archives
administration requirements under the revised Provisions and other PRC laws and regulations may result in the relevant entities being
held legally liable by competent authorities and referred to the judicial organ to be investigated for criminal liability if suspected
of committing a crime.

Although,
as of the date of this Annual Report, the Company is not considering any offerings of its securities, if we should seek to effect an
overseas follow-on offering in the future, we may be required to comply with the Trial Measures and the revised Provisions, which would
subject us to additional compliance requirements in the future. There are still uncertainties regarding the interpretation and implementation
of such regulatory guidance, and we cannot assure you that we will be able to comply with all the new regulatory requirements of the
Trial Measures, the revised Provisions, or any future implementing rules on a timely basis, or at all. Any failure by us to