Company: RAYA
Filing Date: 2025-08-01
Form Type: 424B5
Source: 0001213900-25-070321
Chunk: 93

Company: Erayak Power Solution Group Inc.
Filing Date: 2025-08-01
Form: 424B5
Chunk 93
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 Measures also lay out requirements for the reporting of material events. Breaches of the Trial Measures, such as offering and listing
securities overseas without fulfilling the filing procedures, shall bear legal liabilities, including a fine between RMB 1.0 million (approximately
$150,000) and RMB 10.0 million (approximately $1.5 million), and the Trial Measures increase the cost for offenders by enforcing accountability
with administrative penalties and incorporating the compliance status of relevant market participants into the Securities Market Integrity
Archives.

According to the Circular, since the date
of effectiveness of the Trial Measures on March 31, 2023, PRC domestic enterprises falling within the scope of filing that have been
listed overseas or met the following circumstances are “existing enterprises”: before the effectiveness of the Trial Measures
on March 31, 2023, the application for indirect overseas issuance and listing has been approved by the overseas regulators or overseas
stock exchanges (such as the registration statement has become effective on the U.S. market), it is not required to perform issuance
and listing supervision procedures of the overseas regulators or overseas stock exchanges, and the overseas issuance and listing will
be completed by September 30, 2023. Existing enterprises are not required to file with the CSRC immediately, and filings with the CSRC
should be made as required if they involve refinancings and other filing matters. PRC domestic enterprises that have submitted valid
applications for overseas issuance and listing but have not been approved by overseas regulatory authorities or overseas stock exchanges
at the date of effectiveness of the Trial Measures on March 31, 2023 can reasonably arrange the timing of filing applications with the
CSRC and shall complete the filing with the CSRC before the overseas issuance and listing.

In addition, an overseas-listed company must also
submit the filing with respect to its follow-on offerings, issuance of convertible corporate bonds and exchangeable bonds, and other equivalent
offering activities, within the time frame specified by the Trial Measures. As a result, we will be required to file with the CSRC within
three business days after the completion of the offerings in connection with this registration statement. We will begin the process of
preparing a report and other required materials in connection with the CSRC filing, which will be submitted to the CSRC in due course.
However, if we do not maintain the permissions and approvals of the filing procedure in a timely manner under PRC laws and regulations,
we may be subject to investigations by