Company: ZDAN
Filing Date: 2025-07-28
Form Type: F-1/A
Source: 0001683168-25-005450
Chunk: 269

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-07-28
Form: F-1/A
Chunk 269
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 the open market. A naked short position is more likely to be created if the Underwriter
is concerned that there may be downward pressure on the price of the Ordinary Shares in the open market after pricing that could adversely
affect investors who purchase in the offering.

The Underwriter may also
impose a penalty bid. This occurs when an underwriter or dealer repays selling concessions allowed to it for distributing our Ordinary
Shares in this offering because such underwriter repurchases those Ordinary Shares in stabilizing or short covering transactions.

Finally, the Underwriter
may bid for, and purchase, our Ordinary Shares in market making transactions, including “passive” market making transactions
as described below.

These activities may stabilize
or maintain the market price of our Ordinary Shares at a price that is higher than the price that might otherwise exist in the absence
of these activities. The Underwriter is not required to engage in these activities and may discontinue any of these activities at any
time without notice. These transactions may be effected on Nasdaq Stock Market, in the over-the-counter market, or otherwise.

Passive Market Making

In connection with this
offering, the Underwriter may engage in passive market making transactions in our Ordinary Shares on Nasdaq in accordance with Rule 103
of Regulation M under the Exchange Act, during a period before the commencement of offers or sales of the Ordinary Shares and extending
through the completion of the distribution. A passive market maker must display its bid at a price not in excess of the highest independent
bid of that security. However, if all independent bids are lowered below the passive market maker’s bid, then that bid must then
be lowered when specified purchase limits are exceeded.

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Potential Conflicts of Interest

The Underwriter and its
affiliates may, from time to time, engage in transactions with and perform services for us in the ordinary course of their business for
which they may receive customary fees and reimbursement of expenses. In the ordinary course of their various business activities, the
Underwriter and their affiliates may make or hold a broad array of investments and actively trade debt and equity securities (or related
derivative securities) and financial instruments (including bank loans) for their own accounts and for the accounts of their customers
and such investment and securities activities may involve securities and/or instruments of our Company. The Underwriter and their affiliates
may also make investment recommendations and/or publish or express independent research views in respect of such securities or instruments
and may at any time hold