Company: ZDAN
Filing Date: 2025-06-30
Form Type: F-1
Source: 0001683168-25-004840
Chunk: 186

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-06-30
Form: F-1
Chunk 186
---
1. According to the Measures, an office of the working mechanism for the security review of foreign investments, or working mechanism
office shall be established to undertake the routine work of the security review of foreign investments. In addition, foreign investment
in military industry and related fields of national defense and security, or foreign investment in areas around military facilities and
military industry facilities, may lead to foreign investment in obtaining actual control of enterprises in several important fields,
such as important agricultural products, important energy and resources, major equipment manufacturing, important infrastructure, important
transportation services, important cultural products and services, important information technology and Internet products and services,
important financial services and key technology fields. Foreign investors or domestic parties involved in the aforesaid foreign investment
shall voluntarily report to the working mechanism office before implementing the investment, and shall not implement the investment until
the working mechanism office decides whether a safety review is necessary. Violators of the provisions may be ordered to make declaration
within a specified time limit, dispose equities or assets and take other necessary measures to restore the equities or assets to the
status before the implementation of the investment and eliminate the impact on national security.

| 117 |

Regulations in Relating to M&A and Overseas Listing

MOFCOM, China Securities
Regulatory Commission, or CSRC, SAFE and three other PRC governmental and regulatory agencies jointly adopted the Regulations on Mergers
and Acquisitions of Domestic Enterprises by Foreign Investors, or the M&A Rules, which became effective in September 2006 and was
amended in June 2009. The M&A Rules, among other things, require that if a domestic company, domestic enterprise, or a domestic individual,
through an overseas company established or controlled by it/him/her, acquires a domestic company which is affiliated with it/him/her,
an approval from the MOFCOM is required. The M&A Rules further requires that an offshore special purpose vehicle, or the SPV, that
is controlled directly or indirectly by the PRC companies or individuals and that has been formed for overseas listing purposes through
acquisition PRC domestic interest held by such PRC companies or individuals, shall obtain the approval of CSRC prior to overseas listing
and trading of such SPV’s securities on an overseas stock exchange.

On February 17, 2023, the
CSRC promulgated the relevant rules of the overseas listing filing management system, including Trial Administrative Measures of Overseas
Securities Offering and Listing by Domestic