Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 122

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 122
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C HK to pay off their respective debt in a currency other than Hong Kong Dollar or Renminbi owed to entities outside China, or
to make other capital expenditure payments outside China in a currency other than Renminbi or the Hong Kong Dollar. We may be prevented
from obtaining sufficient foreign currencies to satisfy our foreign currency demands. As a result, we may not be able to pay dividends
in foreign currencies to its shareholders. For a detailed description of the potential government regulations facing the Company and
the offering associated with our operations in Hong Kong,

| 68 |

PRC regulations relating to offshore investment activities by PRC residents may expose us or our PRC resident beneficial owners to liability and penalties under PRC law.

SAFE promulgated the Circular
on Relevant Issues Relating to Domestic Resident’s Investment and Financing and Roundtrip Investment through Special Purpose Vehicles,
or SAFE Circular 37, in July 2014 that requires PRC residents or entities to register with SAFE or its local branch in connection with
their establishment or control of an offshore entity established for the purpose of overseas investment or financing. In addition, such
PRC residents or entities must update their SAFE registrations when the offshore special purpose vehicle undergoes material events relating
to any change of basic information (including change of such PRC citizens or residents, name and operation term), increases or decreases
in investment amount, transfers or exchanges of shares, or mergers or divisions. SAFE Circular 37 is issued to replace the Notice on
Relevant Issues Concerning Foreign Exchange Administration for PRC Residents Engaging in Financing and Roundtrip Investments via Overseas
Special Purpose Vehicles, or SAFE Circular 75. SAFE promulgated the Notice on Further Simplifying and Improving the Administration of
the Foreign Exchange Concerning Direct Investment in February 2015, which took effect on June 1, 2015. This notice has amended SAFE Circular
37 requiring PRC residents or entities to register with qualified banks rather than SAFE or its local branch in connection with their
establishment or control of an offshore entity established for the purpose of overseas investment or financing.

Failure to comply with the SAFE
registration described above could result in liability under PRC laws for evasion of applicable foreign exchange restrictions.

Regulatory bodies of the United States may be limited in their ability to conduct investigations or inspections of our operations in Hong Kong.

From time to time, we may receive
requests from certain U.S. agencies to investigate or inspect the Company’s operations, or to otherwise provide information. While