Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 72

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 72
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 applicable regulations, are as follows:

1. HCYC’s equity structure is a direct shareholding structure, that is, HCYC directly controls its operating subsidiary HCYC HK. See “ Corporate History and Structure” for additional details.

2. Within the direct holding structure, the use of funds within the corporate group is legal and compliant with the laws and regulations of Hong Kong and the Cayman Islands. Because HCYC has no actual operations, there is no funding for this entity and all the revenue that is generated by HCYC HK is used to operate HCYC HK. At the close of this offering, the funds can be directly transferred to the operating subsidiary.

3. At present, HCYC have never distributed any dividends and does not intend to in the future. However, if HCYC decides to distribute dividends to its shareholders, it will transfer the dividends from the operating subsidiary, HCYC HK, in accordance with the laws and regulations of Hong Kong and other countries. Then HCYC HK will transfer the dividends to HCYC, and the dividends will be distributed from HCYC to all shareholders respectively in proportion to the shares they hold, regardless of whether the shareholders are U.S. investors or investors in other countries or regions.

As a smaller company, HCYC does not have specific cash management policies and procedures that dictate how funds are transferred throughout the organization. HCYC’s general policy, however, has been to keep funds within the entities where they are raised or generated in order to support the local entity’s operations. For example, if the funds are generated in a Hong Kong subsidiary, then HCYC’s general approach will be to use those funds to support the Hong Kong entity’s operations, with the exception of required funding for capital investments.

Under Hong Kong law, dividends could only be paid out of distributable profits (that is, accumulated realized profits less accumulated realized losses) or other distributable reserves, as permitted under Hong Kong law. Dividends cannot be paid out of share capital. There are no restrictions or limitation under the laws of Hong Kong imposed on the conversion of HK dollar into foreign currencies and the remittance of currencies out of Hong Kong, nor is there any restriction on foreign exchange to transfer cash or other assets between HCYC Holding Company and its subsidiary, across borders and to U.S. investors, nor are there any restrictions and limitations to distribute earnings from our business and subsidiary, to HCYC Holding Company and U.S. investors. Under the current practice