Company: BAYAU
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001641172-25-002125
Chunk: 276

Company: Bayview Acquisition Corp
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1A
Chunk 276
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indirect overseas offering and listing by PRC domestic
companies” in compliance with the principle of “substance over form” and particularly, an issuer will be required to
go through the filing procedures under the Trial Measures if the following criteria are met at the same time: (a) 50% or more of the
issuer’s operating revenue, total profit, total assets or net assets as documented in its audited consolidated financial statements
for the most recent accounting year comes from PRC domestic companies, and (b) the main parts of the issuer’s business activities
are conducted in mainland China, or its main places of business are located in mainland China, or the senior managers in charge of its
business operation and management are mostly Chinese citizens or domiciled in mainland China; (2) exemptions from immediate filing requirements
for issuers that (a) have already been listed or registered but not yet listed in foreign securities markets, including U.S. markets,
prior to the effective date of the Trial Measures, (b) are not required to re-perform the regulatory procedures with the relevant overseas
regulatory authority or the overseas stock exchange, and (c) whose such overseas securities offering or listing shall be completed before
September 30, 2023, provided however that such issuers shall carry out filing procedures as required if they conduct refinancing or are
involved in other circumstances that require filing with the CSRC; (3) a negative list of types of issuers banned from listing or offering
overseas, such as (a) issuers whose listing or offering overseas has been recognized by the State Council of the PRC as a possible threat
to national security, (b) issuers whose affiliates have been recently convicted of bribery and corruption, (c) issuers under ongoing
criminal investigations, and (d) issuers under major disputes regarding equity ownership; (4) issuers’ compliance with web security,
data security, and other national security laws and regulations; (5) issuers’ filing and reporting obligations, such as the obligation
to file with the CSRC after it submits an application for initial public offering to overseas regulators, and the obligation after offering
or listing overseas to report to the CSRC material events including a change of control or voluntary or forced delisting of the issuer;
and (6) the CSRC’s authority to fine both issuers and their shareholders between 1 and 10 million RMB for failure to comply with
the Trial Measures, including failure to comply