Company: RAYA
Filing Date: 2025-09-29
Form Type: 424B5
Source: 0001185185-25-001296
Chunk: 20

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-09-29
Form: 424B5
Chunk 20
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 generated revenue mostly from four types of
products: (1) inverters constituted approximately 46%, 59% and 52% of our total revenue for the fiscal years ended December 31, 2024,
2023 and 2022, respectively; (2) chargers, which generated approximately 1.82%, 2.68% and 2.16% of our total revenue for the fiscal years
ended December 31, 2024, 2023 and 2022, respectively; (3) gasoline generators generated approximately 32.94%, 32.36% and 43.82% of our
total revenue for the fiscal years ended December 31, 2024, 2023 and 2022, respectively; (4) power bank generated approximately 16.39%,
3.96% and 0% of our total revenue for the fiscal years ended December 31, 2024, 2023 and 2022, respectively.

Due to our substantial investment in research
and development, Zhejiang Leiya was awarded High-Tech Enterprise status by the Zhejiang provincial government, which qualified us for
China’s National High-Tech Enterprise Program, a national-level program. Specifically, companies in the China’s National High-Tech
Enterprise Program are eligible for up to a 10% corporate income tax break and certain deductions related to intangible assets, such as
obtaining patents in the R&D process. Additionally, our research and patents in the power solution space have brought us local recognition;
we were awarded certificates by the provincial and city government that identifies us as a Zhejiang Science and Technology Enterprise,
and a Wenzhou Science and Technology Innovation Enterprise. These certificates entitle us to certain preferential tax treatment and sometimes
grants from the government to aid R&D efforts in furtherance of the business. Furthermore, we are a supplier for many international
companies, including Einhell Germany AG, Canadian Tire Corporation Limited, Steren Electronics International, LLC, etc.

Zhejiang Leiya’s products are customized
and built to order, or BOT. The BOT business model maximizes our flexibility in production scheduling, material procurement, and delivery
to meet our customers’ unique demands. We have adopted a multi-step, full-service system to ensure quality and client satisfaction.
Customers can choose from within our product portfolio and communicate specified requirements to the sales department. Our technical department
will evaluate the request’s feasibility and coordinate with the customer to