Company: ZDAN
Filing Date: 2025-06-30
Form Type: F-1
Source: 0001683168-25-004840
Chunk: 27

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-06-30
Form: F-1
Chunk 27
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 by Guangqing Hu, the Company’s Chief Technology Officer       
 and Chairman of the Board of Directors, as of the date of this prospectus.                                                           |
| (2) | Represents 5,500,000 ordinary shares held by Zerolimit Excellence Limited,                                                           
 a British Virgin Islands limited company, which is 100% owned by Kai Hu, our former director and the nephew of the Chief Technology  
 Officer, Guangqing Hu, and the Company’s former director and an employee of the VIE, as of the date of this prospectus.              |
| (3) | Represents 5,500,000 ordinary shares held by Zerolimit Power Limited,                                                                
 a British Virgin Islands limited company, which is 100% owned by Jian Gang, the Company’s former director, as of the date of         
 this prospectus.                                                                                                                     |
| (4) | Represents 2,495,000 ordinary shares held by Zerolimit Virtue Limited,                                                               
 a British Virgin Islands limited company, which is 100% owned by Baifen Le, our former director and the wife of the Chief Technology 
 Officer, Guangqing Hu, and the Company’s former director and an employee of the VIE, as of the date of this prospectus.              |

The VIE commenced its business
in China in 2017. In the early stages of our establishment, we focused on building the overall technological framework to expedite the
development process of the distributed network. From 2018 to 2019, we made breakthroughs in the technological framework, including the
development of mobile deployment, peer-to-peer networking, and distributed storage. We also launched successive versions of our distributed
network configuration tool software, including a demo version, internal test version, and public test version. In September 2021, we
officially launched the Cloud Base Station Node Software, which marked a milestone in our business operations. Since 2021, we have begun
generating revenue from software products developed based on distributed networks. In 2022, we obtained the national high-tech enterprise
certification in China. In April 2023, we achieved the recognition as a specialized and sophisticated SME.

| 12 |

The VIE Agreements

We are a holding company
incorporated in the Cayman Islands and not a Chinese operating company. As a holding company with no material operations of our own,
the majority of our operations are conducted through the VIE in China pursuant to the VIE Ag