Company: ZDAN
Filing Date: 2025-01-10
Form Type: DRS/A
Source: 0001683168-25-000168
Chunk: 73

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-01-10
Form: DRS/A
Chunk 73
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 outbreak of a novel strain of coronavirus, later named COVID-19 has spread globally. On January 30, 2020, the International Health
Regulations Emergency Committee of the World Health Organization declared the outbreak a “Public Health Emergency of International
Concern (PHEIC),” and later on March 11, 2020, a global “pandemic.” The COVID-19 pandemic has led governments across
the globe to impose a series of measures intended to contain its spread, including border closures, travel bans, quarantine measures,
social distancing, and restrictions on business operations and large gatherings. From 2020 to the middle of 2022, COVID-19 vaccination
programs have been greatly promoted around the globe, however several types of COVID-19 variants have emerged in different parts of the
world and caused temporary lockdowns. Restrictions had been re-imposed from time to time in certain cities to combat sporadic outbreaks
of COVID-19 in the PRC from early 2020 through December 2022. For example, in early 2022, the Omicron variant of COVID-19 was identified
in China, especially in Shenzhen and Shanghai city, Jilin Province and Beijing, where strict lockdowns were imposed. In addition, in
the second half of 2022, some cities, including Guangzhou, Shenzhen and Beijing, remained under lockdown for discrete periods of time
due to measures to contain the spread of Omicron and the zero-COVID measures taken by the local governments.

Due to the rapidly expanding
nature of COVID-19 pandemic and the zero-COVID measures taken by the local governments from early 2020 through December 2022, and because
substantially all of the VIE’s business operations and workforce are concentrated in the PRC, we believe that COVID-19 pandemic
has impacted, and will likely continue to impact, the VIE’s business, results of operations, and financial condition. The potential
further impact on the results of operations will also depend on future developments and information that may emerge regarding the duration
and severity of COVID-19 and the actions taken by governmental authorities and other entities to contain COVID-19 or to mitigate its
impacts, almost all of which are beyond our control.

The impacts of COVID-19
on the VIE’s business, financial condition, and results of operations as of the date of this prospectus include, but are not limited
to, the following:

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