Company: FORL
Filing Date: 2025-04-30
Form Type: 10-K
Source: 0001213900-25-037576
Chunk: 310

Company: Four Leaf Acquisition Corp
Filing Date: 2025-04-30
Form: 10-K
Item: Item 1A
Chunk 310
---
 PRC-based companies. Any such action, once taken by the PRC government, could significantly limit or completely
hinder our ability to consummate a business combination with a PRC-based target business and cause the value of our securities to significantly
decline or in extreme cases, become worthless.

Based on our understanding of the current PRC laws and regulations,
no prior permission is required under the rules and regulations listed above from any PRC governmental authorities (including the CSRC
and CAC) for searching for a target company by our officers and directors, and our officers and directors, in their capacity as such,
have been compliant with the regulations or policies that have been issued by the PRC governmental authority (including the CSRC and CAC),
given that: (a) our company is a blank check company newly incorporated in Delaware rather than in the PRC, and currently the company
conducts no business in the PRC; (b) PRC governmental authorities (including the CSRC) currently have not issued any definitive rule or
interpretation concerning whether our, including our officers’ and directors’, searching for a target company are subject
to similar rules; and (c) our officers and directors, in their capacity as officers and directors of the company, currently only conduct
organizational activities for the purpose of conducting searching activities for the purpose of an initial business combination, which
we believe currently are not subject to the regulations or policies that have been issued by the CAC as of the date of this Annual Report.

There can be no assurance, however, that the relevant PRC governmental
authorities, including the CSRC, would reach the same conclusion as us. In addition, the CSRC or any other PRC governmental authorities
may promulgate new rules or new interpretations of current rules which would require us to obtain CSRC or other PRC governmental approvals
for our searching activities or they may intervene or influence our search for a target company for an initial business combination at
any time. If we incorrectly conclude that such permissions or approvals are not required or the CSRC or another PRC governmental authority
subsequently determines that its approval is needed for our searching activities, we may face approval delays, adverse actions or sanctions
by the CSRC or other PRC governmental authorities. In any such event, complying with the requirements of the above-mentioned regulations
and other relevant rules and any required approval processes with PRC governmental authorities could be time-consuming and may delay a
potential business combination. These governmental authorities