Company: RAYA
Filing Date: 2025-07-28
Form Type: 424B5
Source: 0001213900-25-067907
Chunk: 94

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-07-28
Form: 424B5
Chunk 94
---
 Hong Kong, as required
under U.S. law. On December 15, 2022, the PCAOB announced that it was able to secure complete access to inspect and investigate PCAOB-registered
public accounting firms headquartered in mainland China and Hong Kong completely in 2022. The PCAOB Board vacated its previous 2021 determinations
that the PCAOB was unable to inspect or investigate completely registered public accounting firms headquartered in mainland China and
Hong Kong. However, whether the PCAOB will continue to be able to satisfactorily conduct inspections of PCAOB-registered public accounting
firms headquartered in mainland China and Hong Kong is subject to uncertainties and depends on a number of factors out of our and our
auditor’s control. The PCAOB continues to demand complete access in mainland China and Hong Kong moving forward and is making plans
to resume regular inspections in early 2023 and beyond, as well as to continue pursuing ongoing investigations and initiate new investigations
as needed. The PCAOB has also indicated that it will act immediately to consider the need to issue new determinations with the HFCAA if
needed.

Our auditor, TPS Thayer, our independent registered
public accounting firm for the fiscal year ended December 31, 2022 and 2021, and Fortune CPA, our independent registered public accounting
firm for the fiscal year ended December 31, 2023, as auditors of companies that are traded publicly in the United States and a firm registered
with the PCAOB, are subject to laws in the United States pursuant to which the PCAOB conducts regular inspections to assess TPS Thayer
and Fortune CPA’s compliance with applicable professional standards. As of the date of this annual report, neither TPS Thayer nor
Fortune CPA is included in the list of PCAOB Identified Firms in the PCAOB Determination Report issued in December 2021. TPS Thayer is
headquartered in Sugar Land, Texas, and its registration with the PCAOB took effect in September 2020 and it is currently subject to PCAOB
inspections. Fortune CPA is headquartered in Orange, California, and its registration with the PCAOB took effect in April 2022 and it
is currently subject to PCAOB inspections. See “Risk Factors — Risks Related to Doing Business in China — The recent
joint statement by the SEC and PCAOB, proposed rule changes submitted by Nasdaq, and the Holding Foreign Companies Accountable Act all
call for additional and more stringent criteria to