<SEC-DOCUMENT>0001171843-25-005380.txt : 20250813
<SEC-HEADER>0001171843-25-005380.hdr.sgml : 20250813
<ACCEPTANCE-DATETIME>20250813164436
ACCESSION NUMBER:		0001171843-25-005380
CONFORMED SUBMISSION TYPE:	POS AM
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20250813
DATE AS OF CHANGE:		20250813

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BeyondSpring Inc.
		CENTRAL INDEX KEY:			0001677940
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		POS AM
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-280153
		FILM NUMBER:		251212402

	BUSINESS ADDRESS:	
		STREET 1:		100 CAMPUS DRIVE, WEST SIDE, 4TH FLOOR
		STREET 2:		SUITE 410
		CITY:			FLORHAM PARK
		STATE:			NJ
		ZIP:			07932
		BUSINESS PHONE:		646-528-4184

	MAIL ADDRESS:	
		STREET 1:		100 CAMPUS DRIVE, WEST SIDE, 4TH FLOOR
		STREET 2:		SUITE 410
		CITY:			FLORHAM PARK
		STATE:			NJ
		ZIP:			07932
</SEC-HEADER>
<DOCUMENT>
<TYPE>POS AM
<SEQUENCE>1
<FILENAME>posam_081125.htm
<DESCRIPTION>POS AM
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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>As filed with the Securities and Exchange Commission on August 13, 2025</B></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Registration No. 333-280153</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Washington, D.C. 20549</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Post-Effective Amendment No.1</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>to</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>FORM F-3</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>on</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>FORM S-3</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>BeyondSpring Inc.</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Exact name of Registrant as specified in its charter)</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; width: 49%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Cayman Islands</B></FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt"><B>&NegativeThickSpace;</B></FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt"><B>&NegativeThickSpace;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 49%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Not Applicable </B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of incorporation or organization)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S Employer Identification No.)</FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>100 Campus Drive, West Side, 4<SUP>th</SUP> Floor, Suite 410 </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Florham Park, New Jersey 07932 </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Tel: +1 (646) 305-6387</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Address, including zip code, and telephone number, including area code,
of registrant&rsquo;s principal executive offices)</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Lan Huang</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Chairman of the Board of Directors and Chief Executive Officer</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>100 Campus Drive, West Side, 4<SUP>th</SUP> Floor, Suite 410 </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Florham Park, New Jersey 07932 </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Tel: +1 (646) 305-6387</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(Name, address, including zip code, and telephone number, including area
code, of agent for service)</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">With copies to:</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Michael J. Hong, Esq. </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Skadden, Arps, Slate, Meagher &amp; Flom LLP </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>One Manhattan West </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>New York, New York 10001 </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Tel: +1 (212) 735-3000 </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Fax: +1 (212) 735-2000</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Approximate date of commencement of proposed sale to the public: From time to time after the
effective date of this Registration Statement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If the only securities being registered on this Form&nbsp;are being offered pursuant to dividend
or interest reinvestment plans, please check the following box. &thinsp;&#9744;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If any of the securities being registered on this Form&nbsp;are to be offered on a delayed or
continuous basis pursuant to Rule&nbsp;415 under the Securities Act of 1933, other than securities offered only in connection with dividend
or interest reinvestment plans, check the following box. &#9746;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If this Form&nbsp;is filed to register additional securities for an offering pursuant to Rule&nbsp;462(b)
under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective
registration statement for the same offering. &thinsp;&#9744;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If this Form&nbsp;is a post-effective amendment filed pursuant to Rule&nbsp;462(c) under the
Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration
statement for the same offering. &thinsp;&#9744;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If this Form&nbsp;is a registration statement pursuant to General Instruction I.D. or a post-effective
amendment thereto that shall become effective upon filing with the Commission pursuant to Rule&nbsp;462(e) under the Securities Act, check
the following box. &thinsp;&#9744;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If this Form&nbsp;is a post-effective amendment to a registration statement filed pursuant to
General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule&nbsp;413(b) under
the Securities Act, check the following box. &thinsp;&#9744;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer,
a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of &ldquo;large accelerated filer,&rdquo;
&ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the
Exchange Act.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%"><FONT STYLE="font-size: 10pt">Large accelerated filer</FONT></TD>
    <TD STYLE="width: 24%"><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 48%"><FONT STYLE="font-size: 10pt">Accelerated filer</FONT></TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Non-accelerated filer</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&#9746;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Smaller reporting company</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&#9746;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Emerging growth company</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&#9744;</FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If an emerging growth company, indicate by check mark if the registrant has elected not to use
the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;7(a)(2)(B)
of the Securities Act. &thinsp;&#9744;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>We hereby amend this Registration Statement on such date or dates as may be necessary to
delay its effective date until we file a further amendment which will specifically state that this Registration Statement shall thereafter
become effective in accordance with Section&nbsp;8(a) of the Securities Act, or until the Registration Statement shall become effective
on such date as the Securities and Exchange Commission, acting pursuant to said Section&nbsp;8(a), may determine.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B></B></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>EXPLANATORY NOTE</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">On July&nbsp;2, 2021, BeyondSpring Inc. (the &ldquo;Company&rdquo;) filed
a registration statement (the &ldquo;2021 Registration Statement&rdquo;) on Form&nbsp;F-3 (File No. 333-257639) with the U.S. Securities
and Exchange Commission (the &ldquo;SEC&rdquo;) related to the offer and sale of an aggregate of 10,000,000 ordinary shares of the Company.
The 2021 Registration Statement was subsequently declared effective by the SEC on July&nbsp;13, 2021. Pursuant to Rule&nbsp;429 under
the Securities Act of 1933 (the &ldquo;Securities Act&rdquo;), the Company filed a new registration statement (the &ldquo;2024 Registration
Statement&rdquo;) on Form F-3 (File No. 333-280153) with the SEC, which combined the 8,728,813 ordinary shares from the Prior Registration
Statement, which remained unissued, with an additional 1,271,817 ordinary shares, all of which are registered thereby for offer and sale
by the Company, to enable an aggregate of 10,000,000 ordinary shares to be offered pursuant to the combined prospectus. The 2024 Registration
Statement was declared effective by the SEC on July 12, 2024. As of such date, the Company was a foreign private issuer within the meaning
of the Securities Act. The Company determined that, effective January 1, 2025, it was no longer a foreign private issuer, and as a result
is subject to the registration requirements applicable to a United States domestic registrant. This Post-Effective Amendment No.1 to Form
F-3 on Form S-3 is being filed by the Company to convert the 2024 Registration Statement into a Registration Statement on Form S-3 and
contains an updated prospectus relating to the offering and sale of the Company&rsquo;s ordinary shares that were registered under the
2024 Registration Statement. All filing fees payable in connection with the registration of the Company&rsquo;s securities under the 2024
Registration Statement were paid by the Company at the time of the initial filing of the 2021 Registration Statement and the 2024 Registration
Statement, as applicable.</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; color: #FC0014"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; color: #FC0014"><B>The information in this prospectus is not complete and may be changed. These
securities may not be sold until the registration statement filed with the Securities and Exchange Commission is declared effective. This
prospectus is not an offer to sell the securities and it is not soliciting an offer to buy these securities in any jurisdiction where
the offer or sale is not permitted.</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; color: #FC0014"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; color: #FC0014"><B>Subject to Completion, dated August 13, 2025</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center; color: #FC0014"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>PROSPECTUS</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>BeyondSpring Inc. </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&emsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>10,000,000 </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&emsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Ordinary Shares</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">This prospectus relates to the offer and sale, from time to time, of up to
10,000,000 of our ordinary shares. The offer and sale of 8,728,813 of the ordinary shares was previously registered pursuant to our registration
on Form&nbsp;F-3 (File No. 333-257639), which we filed with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on July&nbsp;2,
2021, and was declared effective by the SEC on July&nbsp;13, 2021 (the &ldquo;prior registration statement&rdquo;). Pursuant to Rule&nbsp;429
under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), this prospectus updates the prior registration statement
and includes the ordinary shares previously registered by us pursuant to such prior registration statement.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">We may offer the ordinary shares for sale directly to purchasers or through
underwriters, dealers or agents to be designated at a future date. If any underwriters, dealers or agents are involved in the sale of
any of the ordinary shares, their names, and any applicable purchase price, fee, commission or discount arrangement between or among them
will be set forth, or will be calculable from the information set forth, in the applicable prospectus supplement. See the &ldquo;Plan
of Distribution&rdquo; and &ldquo;About this Prospectus&rdquo; sections for more information.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">You should read this prospectus and the applicable prospectus supplement
as well as the documents incorporated or deemed to be incorporated by reference in this prospectus carefully before you invest in our
securities together with additional information described under the heading &ldquo;Where You Can Find More Information.&rdquo; Our ordinary
shares are quoted on the Nasdaq Capital Market under the symbol &ldquo;BYSI.&rdquo; The closing price of our ordinary shares, as reported
on the Nasdaq Capital Market on August 12, 2025, was $[&bull;].</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0"><B>Investing in our securities involves risks. Risks associated with an investment
in our securities will be described in the applicable prospectus supplement and certain of our filings with the Securities and Exchange
Commission, as described under &ldquo;Risk Factors&rdquo; on page 5 of this prospectus.</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0"><B>Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation
to the contrary is a criminal offense.</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>This Prospectus is dated &emsp;&emsp;&emsp;, 2025</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>TABLE OF CONTENTS</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; width: 98%"><A HREF="#a_001"><FONT STYLE="font-size: 10pt">ABOUT THIS PROSPECTUS</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 2%"><A HREF="#a_001"><FONT STYLE="font-size: 10pt">1</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom"><A HREF="#a_002"><FONT STYLE="font-size: 10pt">OUR COMPANY</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><A HREF="#a_002"><FONT STYLE="font-size: 10pt">2</FONT></A></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom"><A HREF="#a_003"><FONT STYLE="font-size: 10pt">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><A HREF="#a_003"><FONT STYLE="font-size: 10pt">3</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom"><A HREF="#a_004"><FONT STYLE="font-size: 10pt">RISK FACTORS</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><A HREF="#a_004"><FONT STYLE="font-size: 10pt">5</FONT></A></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom"><A HREF="#a_005"><FONT STYLE="font-size: 10pt">USE OF PROCEEDS</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><A HREF="#a_005"><FONT STYLE="font-size: 10pt">6</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom"><A HREF="#a_006"><FONT STYLE="font-size: 10pt">CAPITALIZATION</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><A HREF="#a_006"><FONT STYLE="font-size: 10pt">6</FONT></A></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom"><A HREF="#a_007"><FONT STYLE="font-size: 10pt">DESCRIPTION OF SHARE CAPITAL</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><A HREF="#a_007"><FONT STYLE="font-size: 10pt">7</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom"><A HREF="#a_008"><FONT STYLE="font-size: 10pt">PLAN OF DISTRIBUTION</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><A HREF="#a_008"><FONT STYLE="font-size: 10pt">16</FONT></A></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom"><A HREF="#a_009"><FONT STYLE="font-size: 10pt">WHERE YOU CAN FIND MORE INFORMATION</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><A HREF="#a_009"><FONT STYLE="font-size: 10pt">18</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom"><A HREF="#a_010"><FONT STYLE="font-size: 10pt">INCORPORATION BY REFERENCE</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><A HREF="#a_010"><FONT STYLE="font-size: 10pt">18</FONT></A></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom"><A HREF="#a_011"><FONT STYLE="font-size: 10pt">ENFORCEMENT OF CIVIL LIABILITIES</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><A HREF="#a_011"><FONT STYLE="font-size: 10pt">20</FONT></A></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom"><A HREF="#a_012"><FONT STYLE="font-size: 10pt">LEGAL MATTERS</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><A HREF="#a_012"><FONT STYLE="font-size: 10pt">21</FONT></A></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom"><A HREF="#a_013"><FONT STYLE="font-size: 10pt">EXPERTS</FONT></A></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><A HREF="#a_013"><FONT STYLE="font-size: 10pt">22</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_001"></A>ABOUT THIS PROSPECTUS</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">This prospectus is part of a registration statement that we have filed with
the SEC under the Securities Act with respect to our ordinary shares. The term registration statement means the prior registration statement
and any and all amendments including the schedules and exhibits to the prior registration statement and this registration statement, which
is combined with the prior registration statement pursuant to Rule&nbsp;429 under the Securities Act, and is being amended by this Post-Effective
Amendment No.1. We may, from time to time, offer and sell, in one or more offerings, up to 10,000,000 of our ordinary shares. The offer
and sale of securities under this prospectus may be made from time to time, in one or more offerings, in any manner described under the
section in this prospectus entitled &ldquo;Plan of Distribution.&rdquo;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">This prospectus only provides you with a general description of our ordinary
shares that we may offer. Each time we sell our ordinary shares, we will provide a prospectus supplement containing specific information
about the offering, if required. Any such prospectus supplement may include a discussion of any risk factors or other special considerations
that apply to that offering. The prospectus supplement may also add, update or change the information in this prospectus. If there is
any inconsistency between the information in this prospectus and any prospectus supplement, you should rely on the information in that
prospectus supplement. Before purchasing any of our ordinary shares, you should carefully read both this prospectus and any prospectus
supplement together with additional information incorporated by reference herein and described under the headings &ldquo;Where You Can
Find More Information&rdquo; and &ldquo;Incorporation by Reference.&rdquo;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">The registration statement containing this prospectus, including exhibits
to the registration statement, provides additional information about us and the securities offered under this prospectus. The registration
statement can be read on the SEC website or at the SEC office mentioned under the heading &ldquo;Where You Can Find More Information.&rdquo;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">When acquiring any ordinary shares described in this prospectus, you should
rely only on the information provided in this prospectus and in any applicable prospectus supplement, including the information incorporated
by reference. Neither we nor any underwriter, dealer or agent have authorized anyone to provide you with different information. If anyone
provides you with different or inconsistent information, you should not rely on it. We are not offering our ordinary shares in any jurisdiction
where the offer or sale is prohibited. You should not assume that the information in this prospectus, any prospectus supplement or any
document incorporated by reference is truthful or complete at any date other than the date mentioned on the cover page of any such document.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">We may sell our ordinary shares to underwriters who will sell the securities
to the public at a fixed offering price or at varying prices determined at the time of sale. The applicable prospectus supplement will
contain the names of the underwriters, dealers or agents, if any, together with the terms of offering, the compensation of those underwriters,
dealers or agents and the net proceeds to us. Any underwriters, dealers or agents participating in the offering may be deemed &ldquo;underwriters&rdquo;
within the meaning of the Securities Act.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Unless otherwise mentioned or unless the context requires otherwise, all
references in this prospectus to:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&ldquo;BeyondSpring,&rdquo; the &ldquo;Company,&rdquo; &ldquo;our Company,&rdquo;
the &ldquo;Registrant,&rdquo; &ldquo;us,&rdquo; &ldquo;we,&rdquo; &ldquo;our&rdquo; and similar designations refer to Dalian Wanchun Biotechnology
Co., Ltd. (the &ldquo;Wanchun Biotech&rdquo;), the former holding company of our U.S. subsidiary, and its consolidated subsidiaries, as
a whole, prior to the completion of our internal corporate reorganization, and BeyondSpring Inc. and its consolidated subsidiaries, after
the completion of our internal corporate reorganization on July&nbsp;20, 2015.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&ldquo;Our shares,&rdquo; &ldquo;ordinary shares&rdquo; and similar expressions
refer to the Registrant&rsquo;s ordinary shares, par value&nbsp;$0.0001 per share.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&ldquo;Dollars,&rdquo; &ldquo;U.S.$&rdquo; or &ldquo;$&rdquo; refer to United
States Dollars.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&ldquo;PRC&rdquo; or &ldquo;China&rdquo; refer to the People&rsquo;s Republic
of China.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&ldquo;Exchange Act&rdquo; refers to the Securities Exchange Act of 1934,
as amended.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&ldquo;Securities Act&rdquo; refers to the Securities Act of 1933, as amended.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&ldquo;FINRA&rdquo; refers to the Financial Industry Regulatory Authority.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&ldquo;Nasdaq&rdquo; refers to the Nasdaq Capital Market.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&ldquo;SEC&rdquo; or the &ldquo;Commission&rdquo; refers to the United States
Securities and Exchange Commission.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_002"></A>OUR COMPANY</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">We are a clinical stage global biopharmaceutical company focused on developing
innovative therapies to improve clinical outcomes for patients with high unmet medical needs. Our first-in-class lead asset, Plinabulin,
which has been administered to over 700 cancer patients with generally good tolerability, is being developed as a potential &ldquo;pipeline
in a drug&rdquo; in various cancer indications as a direct anti-cancer agent. Plinabulin binds in a unique pocket of tubulin and activates
the immune defense protein GEF-H1, which leads to indication of innate and adaptive immunity via dendritic cell maturation. We own global
rights to Plinabulin in all countries except China. We own a 57.97% interest in our Chinese subsidiary, which owns 100% of the rights
to Plinabulin in China. We are also developing three small molecule immune agents, which are currently in preclinical stages. In addition,
we founded and continue to own an equity stake in SEED Therapeutics Inc. (&ldquo;SEED&rdquo;). SEED is utilizing a proprietary Targeted
Protein Degradation (&ldquo;TPD&rdquo;) drug discovery platform, or &ldquo;molecular glue&rdquo; technology, to develop innovative therapeutic
agents from internal research and development efforts and with our collaborators on currently undruggable protein targets. SEED is partnering
with Eli Lilly and Co. and Eisai Co., Ltd. to discover and develop new chemical entities through this proprietary TPD&nbsp;platform which
could produce therapeutic benefits to patients suffering from oncology and central nervous system (CNS) disease, among others.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">BeyondSpring Inc. was incorporated as an exempted company under the laws
of the Cayman Islands on November&nbsp;21, 2014. In July&nbsp;2015, we completed our internal restructuring. Our principal executive offices
are located at 100 Campus Drive, West Side, 4th Floor, Suite 410, Florham Park, New Jersey 07932 and our telephone number is +1&nbsp;(646)
305-6387. Our registered office in the Cayman Islands is located at the offices of Harneys Fiduciary (Cayman) Limited, 4th Floor, Harbour
Place, 103 South Church Street, P.O. Box 10240, Grand Cayman KY1-1002, Cayman Islands. Our website is www.beyondspringpharma.com. The
information contained on, or that can be accessed through, our website does not constitute part of this prospectus or any accompanying
prospectus supplement and is not incorporated by reference herein or therein.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_003"></A>SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">This prospectus, the documents incorporated by reference herein and any accompanying
prospectus supplement may contain or incorporate forward-looking statements that are based on our management&rsquo;s belief and assumptions
and on information currently available to our management. Although we believe that the expectations reflected in these forward-looking
statements are reasonable, these statements relate to future events or our future financial performance, and involve known and unknown
risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or achievements stated in or implied by these forward-looking statements.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">All statements other than statements of historical facts are forward-looking
statements. These forward-looking statements are made under the &ldquo;safe harbor&rdquo; provision under Section&nbsp;27A of the Securities
Act and 21E of the Exchange Act and as defined in the Private Securities Litigation Reform Act of 1995. In some cases, you can identify
forward-looking statements by terminology such as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;should,&rdquo; &ldquo;expects,&rdquo;
&ldquo;intends,&rdquo; &ldquo;plans,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;believes,&rdquo; &ldquo;estimates,&rdquo; &ldquo;predicts,&rdquo;
&ldquo;potential,&rdquo; &ldquo;continue&rdquo; or the negative of these terms or other comparable terminology. These statements are only
predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties
and other factors, which are, in some cases, beyond our control and which could materially affect results. You should refer to the &ldquo;Risk
Factors&rdquo; section of this prospectus, any accompanying prospectus supplement, and our periodic and current reports filed with the
SEC for specific risks that could cause actual results to be significantly different from those stated in or implied by these forward-looking
statements. If one or more of these risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events
or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a
guarantee of future performance. Forward-looking statements speak only as of the date made and we undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should read this
prospectus, any accompanying prospectus supplement and the documents that we reference in this prospectus and have filed with the SEC
as exhibits to the registration statement, of which this prospectus is a part, completely and with the understanding that our actual future
results may be materially different from any future results stated in or implied by these forward-looking statements.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Forward-looking statements in this prospectus include, but are not limited
to, statements about:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the initiation, timing, progress and results of our studies in animals and clinical trials, and our research and development programs; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our ability to advance our product candidates into, and successfully complete, clinical trials; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our reliance on the success of our clinical-stage product candidates; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the timing or likelihood of regulatory filings and approvals; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our ability to address the concerns identified in the Complete Response Letter issued by the Food and Drug Administration, in November&nbsp;2021 regarding the New Drug Application (&ldquo;NDA&rdquo;), seeking approval of Plinabulin in combination with granulocyte colony-stimulating factor for the prevention of chemotherapy-induced neutropenia; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our ability to file the NDA submission for the non-small cell lung cancer indication with the National Medical Products Administration in China; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the commercialization of our product candidates, if approved; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our ability to develop sales and marketing capabilities; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the pricing and reimbursement of our product candidates, if approved; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the implementation of our business model, strategic plans for our business and technology; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the scope of protection we are able to establish and maintain for intellectual property rights covering our product candidates and technology; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our ability to operate our business without infringing the intellectual property rights and proprietary technology of third parties; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">costs associated with defending intellectual property infringement, product liability and other claims; </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">regulatory development in the United States, China and other jurisdictions; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">estimates of our expenses, future revenues, capital requirements and our needs for additional financing; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the potential benefits of strategic collaboration agreements and our ability to enter into strategic arrangements; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our ability to maintain and establish collaborations or obtain additional grant funding; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the rate and degree of market acceptance of our product candidates; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">developments relating to our competitors and our industry, including competing therapies; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our ability to effectively manage our anticipated growth; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our ability to attract and retain qualified employees and key personnel; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our future revenue, hiring plans, expenses, capital expenditures, capital requirements and share performance; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the future trading price of our ordinary shares and impact of securities analysts&rsquo; reports on these prices; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our ability to meet Nasdaq&rsquo;s continued listing requirements; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the impact of widespread health developments, and the responses thereto, which could materially and adversely affect, among other things, enrollment of patients in our clinical trials, timing and completion of regulatory or other required inspections, our expected timeline for data readouts of our clinical trials and certain regulatory filings for our product candidates, and the review and approval timeline of regulatory authorities; and</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">other risks and uncertainties, including those listed under the caption &ldquo;Risk Factors&rdquo; in this prospectus, any accompanying prospectus supplement, and in our most recent annual report on Form&nbsp;10-K. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: justify; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 20pt">The &ldquo;Risk Factors&rdquo; section of this prospectus,
any accompanying prospectus supplement, and our periodic and current reports filed with the SEC references the principal contingencies
and uncertainties to which we believe we are subject, which should be considered in evaluating any forward-looking statements contained
or incorporated by reference in this prospectus or in any prospectus supplement.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_004"></A>RISK FACTORS</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Investing in our ordinary shares involves risks. Before making an investment
decision, you should carefully consider the risks described under &ldquo;Risk Factors&rdquo; in the applicable prospectus supplement and
in our most recent annual report on Form&nbsp;10-K, any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K we file
after the date of this prospectus, together with all of the other information appearing in this prospectus or incorporated by reference
into this prospectus and any applicable prospectus supplement, in light of your particular investment objectives and financial circumstances.
In addition to those risk factors, there may be additional risks and uncertainties of which management is not aware or focused on or that
management deems immaterial. Our business, financial condition or results of operations could be materially adversely affected by any
of these risks. The trading price of our securities could decline due to any of these risks, and you may lose all or part of your investment.</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_005"></A>USE OF PROCEEDS</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Our management will have broad discretion over the use of the net proceeds
from the sale of our ordinary shares pursuant to this prospectus, both in terms of the purposes for which they will be used and the amounts
that will be allocated for each purpose. We intend to use the net proceeds from the sale of any securities offered under this prospectus
for funding our research and development and for general corporate purposes unless otherwise indicated in the applicable prospectus supplement.
General corporate purposes may include the acquisition of companies or businesses, repayment and refinancing of debt, working capital,
clinical trial expenditures, commercial expenditures and capital expenditures.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_006"></A>CAPITALIZATION</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Our capitalization will be set forth in a prospectus supplement to this prospectus.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_007"></A>DESCRIPTION OF SHARE CAPITAL</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">We are a Cayman Islands exempted company with limited liability and our affairs
are governed by our memorandum and articles of association, as amended and restated from time to time and the Companies Act (As&nbsp;Revised)
of the Cayman Islands, which is referred to as the Companies Act below, and the common law of the Cayman Islands.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">As of June 30, 2025, our authorized share capital was $50,000, consisting
of 500,000,000 ordinary shares, par value of U.S. $0.0001 each. As of June 30, 2025, 40,322,320 ordinary shares were issued and outstanding.
All of our issued and outstanding ordinary shares are fully paid.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">The following are summaries of material provisions of our current amended
and restated memorandum and articles of association as adopted by a special resolution of our shareholders passed on February 24,&nbsp;2017
and that became effective immediately prior to the completion of our initial public offering (&ldquo;IPO&rdquo;), in March&nbsp;2017,
insofar as they relate to the material terms of our ordinary shares.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Objects of Our Company</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I></I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Under our amended and restated memorandum and articles of association, the
objects of our Company are unrestricted and we have the full power and authority to carry out any object not prohibited by the law of
the Cayman Islands.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Ordinary Shares</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I></I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Our ordinary shares are issued in registered form and are issued when registered
in our register of members. Our&nbsp;shareholders who are non-residents of the Cayman Islands may freely hold and vote their shares.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Dividends</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I></I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">The holders of our ordinary shares are entitled to such dividends as may
be declared by our board of directors. In addition, our shareholders may by ordinary resolution declare a dividend, but no dividend may
exceed the amount recommended by our directors. Under Cayman Islands law, dividends may be declared and paid only out of funds legally
available therefor, namely out of either profit or our share premium account, provided that in no circumstances may a dividend be paid
if this would result in our Company being unable to pay its debts as they fall due in the ordinary course of business.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Voting Rights </I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">Voting at any shareholders&rsquo; meeting is by show of hands unless a poll
(before or on the declaration of the result of the show of hands) is demanded. A poll may be demanded by the chairman of such meeting
or any one or more shareholders who together hold not less than 10% of the voting share capital of our Company present in person or by
proxy.</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">A quorum required for a meeting of shareholders consists of one or more shareholders
present and holding not less than a majority of all voting share capital of our Company in issue. Shareholders may be present in person
or by proxy or, if the shareholder is a legal entity, by its duly authorized representative. Shareholders&rsquo; meetings may be convened
by our board of directors on its own initiative or upon a request to the directors by shareholders holding at the date of deposit of the
requisition not less than ten percent of our voting share capital in issue. Advance notice of at least seven calendar days is required
for the convening of our annual general shareholders&rsquo; meeting and any other general shareholders&rsquo; meeting.</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">An ordinary resolution to be passed at a meeting by the shareholders requires
the affirmative vote of a simple majority of the votes attaching to the ordinary shares cast at a meeting, while a special resolution
requires the affirmative vote of no less than two-thirds of the votes attaching to the ordinary shares cast at a meeting. Both ordinary
resolutions and special resolutions may also be passed by a unanimous written resolution signed by all the shareholders of our Company,
as permitted by the Companies Act and our amended and restated memorandum and articles of association. A special resolution will be required
for important matters such as a change of name or making changes to our amended and restated memorandum and articles of association. Holders
of the ordinary shares may, among other things, divide or combine their shares by ordinary resolution.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Transfer of Ordinary Shares</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Subject to the restrictions set out below, any of our shareholders may transfer
all or any of his or her ordinary shares by an instrument of transfer in the usual or common form or any other form approved by our board
of directors.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Our board of directors may, in its absolute discretion, decline to register
any transfer of any ordinary share which is not fully paid up or on which we have a lien. Our board of directors may also decline to register
any transfer of any ordinary share unless:</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the instrument of transfer is lodged with us, accompanied by the certificate for the ordinary shares to which it relates and such other evidence as our board of directors may reasonably require to show the right of the transferor to make the transfer; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the instrument of transfer is in respect of only one class of shares; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the instrument of transfer is properly stamped, if required; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in the case of a transfer to joint holders, the number of joint holders to whom the ordinary share is to be transferred does not exceed four; and </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">a fee of such maximum sum as the Nasdaq Capital Market may determine to be payable or such lesser sum as our directors may from time to time require is paid to us in respect thereof. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">If our board of directors refuse to register a transfer they shall, within
two months after the date on which the instrument of transfer was lodged, send to each of the transferor and the transferee notice of
such refusal.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">The registration of transfers may, after compliance with any notice required
of the Nasdaq Capital Market, be suspended and the register closed at such times and for such periods as our board of directors may from
time to time determine, provided, however, that the registration of transfers shall not be suspended nor the register closed for more
than 30 days in any year as our board of directors may determine.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Restructuring</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">A company may present a petition to the Grand Court of the Cayman Islands
for the appointment of a restructuring officer on the grounds that the company:</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(a)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">is or is likely to become unable to pay its debts; and </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">intends to present a compromise or arrangement to its creditors (or classes thereof) either pursuant to the Companies Act, the law of a foreign country or by way of a consensual restructuring. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">The Grand Court may, among other things, make an order appointing a restructuring
officer upon hearing of such petition, with such powers and to carry out such functions as the court may order. At any time (i) after
the presentation of a petition for the appointment of a restructuring officer but before an order for the appointment of a restructuring
officer has been made, and (ii) when an order for the appointment of a restructuring officer is made, until such order has been discharged,
no suit, action or other proceedings (other than criminal proceedings) shall be proceeded with or commenced against the company, no resolution
to wind up the company shall be passed, and no winding up petition may be presented against the company, except with the leave of the
court. However, notwithstanding the presentation of a petition for the appointment of a restructuring officer or the appointment of a
restructuring officer, a creditor who has security over the whole or part of the assets of the company is entitled to enforce the security
without the leave of the court and without reference to the restructuring officer appointed.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Liquidation</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">On a return of capital on winding up or otherwise (other than on conversion,
redemption or purchase of shares), assets available for distribution among the holders of ordinary shares shall be distributed among the
holders of our ordinary shares on a pro rata basis. If our assets available for distribution are insufficient to repay all of the paid-up
capital, the assets will be distributed so that the losses are borne by our shareholders proportionately.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Calls on Shares and Forfeiture of Shares</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Our board of directors may from time to time make calls upon shareholders
for any amounts unpaid on their shares in a notice served to such shareholders at least 14 days prior to the specified time or times of
payment. The shares that have been called upon and remain unpaid are subject to forfeiture.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Redemption, Repurchase and Surrender of Ordinary Shares</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I></I></B>&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">We may issue shares on terms that such shares are subject to redemption,
at our option or at the option of the holders thereof, on such terms and in such manner as may be determined, before the issue of such
shares, by our board of directors. Our Company may also repurchase any of our shares (including any redeemable shares) provided that the
manner and terms of such purchase have been approved by our board of directors or by ordinary resolution of our shareholders, or are otherwise
authorized by our amended and restated memorandum and articles of association. Under the Companies Act, the redemption or repurchase of
any share may be paid out of the company&rsquo;s profits or out of the proceeds of a fresh issue of shares made for the purpose of such
redemption or repurchase, or out of capital (including share premium account and capital redemption reserve) if the company can, immediately
following such payment, pay its debts as they fall due in the ordinary course of business. In addition, under the Companies Act no such
share may be redeemed or repurchased (a) unless it is fully paid up, (b) if such redemption or repurchase would result in there being
no shares outstanding, or (c) if the company has commenced liquidation. In addition, our Company may accept the surrender of any fully
paid share for no consideration.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Variations of Rights of Shares</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">The rights attached to any class or series of shares (unless otherwise provided
by the terms of issue of the shares of that class or series) may, subject to our amended and restated memorandum and articles of association,
be varied with the consent in writing of the holders of not less than two thirds of the issued shares of that class or series or with
the sanction of a special resolution passed at a general meeting of the holders of the shares of that class or series. The rights conferred
upon the holders of the shares of any class issued shall not, unless otherwise expressly provided by the terms of issue of the shares
of that class, be deemed to be varied by the creation or issue of further shares ranking pari passu with such existing class of shares.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Issuance of Additional Shares</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Our amended and restated memorandum and articles of association authorize
our board of directors to issue additional ordinary shares from time to time as our board of directors shall determine, to the extent
of available authorized but unissued shares.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Our amended and restated memorandum and articles of association also authorize
our board of directors to establish from time to time one or more series of preferred shares and to determine, with respect to any series
of preferred shares, the terms and rights of that series, including:</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the designation of the series; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the number of shares of the series; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the dividend rights, dividend rates, conversion rights, voting rights; and </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the rights and terms of redemption and liquidation preferences. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">Our board of directors may issue preferred shares without action by our shareholders
to the extent authorized but unissued. Issuance of these shares may dilute the voting power of holders of ordinary shares.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Inspection of Books and Records</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I></I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Holders of our ordinary shares will have no general right under Cayman Islands
law to inspect or obtain copies of our list of shareholders or our corporate records (save for our memorandum and articles of association,
our register of mortgages and charges and special resolutions of our shareholders). However, we will provide our shareholders with annual
audited financial statements. See &ldquo;Where You Can Find Additional Information.&rdquo;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Anti-Takeover Provisions</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Some provisions of our amended and restated memorandum and articles of association
may discourage, delay or prevent a change of control of our Company or management that shareholders may consider favorable, including
provisions that: authorize our board of directors to issue preferred shares in one or more series and to designate the price, rights,
preferences, privileges and restrictions of such preferred shares without any further vote or action by our shareholders; and limit the
ability of shareholders to requisition and convene general meetings of shareholders.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">However, under Cayman Islands law, our directors may only exercise the rights
and powers granted to them under our memorandum and articles of association for a proper purpose and for what they believe in good faith
to be in the best interests of our Company.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>General Meetings of Shareholders and Shareholder Proposals</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Our shareholders&rsquo; general meetings may be held in such place within
or outside the Cayman Islands as our board of directors considers appropriate.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">As a Cayman Islands exempted company, we are not obliged by the Companies
Act to call shareholders&rsquo; annual general meetings. Our amended and restated memorandum and articles of association provide that
we may (but are not obliged to) hold a general meeting in each year as our annual general meeting.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Shareholders&rsquo; annual general meetings and any other general meetings
of our shareholders may be convened by a majority of our board of directors. Our board of directors shall give not less than seven calendar
days&rsquo; written notice of a shareholders&rsquo; meeting to those persons whose names appear as members in our register of members
on the date the notice is given (or on any other date determined by our directors to be the record date for such meeting) and who are
entitled to vote at the meeting.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Cayman Islands law provides shareholders with only limited rights to requisition
a general meeting, and does not provide shareholders with any right to put any proposal before a general meeting. However, these rights
may be provided in a company&rsquo;s articles of association. Our amended and restated memorandum and articles of association allow our
shareholders holding shares representing in aggregate not less than ten percent of our voting share capital in issue, to requisition an
extraordinary general meeting of our shareholders, in which case our directors are obliged to call such meeting and to put the resolutions
so requisitioned to a vote at such meeting; however, our amended and restated memorandum and articles of association do not provide our
shareholders with any right to put any proposals before annual general meetings or extraordinary general meetings not called by such shareholders.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Exempted Company </I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">We are an exempted company with limited liability under the Companies Act.
The Companies Act distinguishes between ordinary resident companies and exempted companies. Any company that is registered in the Cayman
Islands but conducts business mainly outside of the Cayman Islands may apply to be registered as an exempted company. The requirements
for an exempted company are essentially the same as for an ordinary company except that an exempted company:</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">does not have to file an annual return of its shareholders with the Registrar of Companies; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">is not required to open its register of members for inspection; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">does not have to hold an annual general meeting; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">may issue shares with no par value; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">may obtain an undertaking against the imposition of any future taxation (such undertakings are usually given for a period of up to 30 years); </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">may register by way of continuation in another jurisdiction and be deregistered in the Cayman Islands; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">may register as a limited duration company; and </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">may register as a segregated portfolio company. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&ldquo;Limited liability&rdquo; means that the liability of each shareholder
is limited to the amount unpaid by the shareholder on the shares of the company (except in exceptional circumstances, such as involving
fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared
to pierce or lift the corporate veil).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Register of Members</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I></I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Under Cayman Islands law, we must keep a register of members and there should
be entered therein:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the names and addresses of the members, together with a statement of the shares held by each member, and such statement shall confirm (i) the amount paid or agreed to be considered as paid, on the shares of each member (ii) the number and category of shares held by each member, and (iii) whether each relevant category of shares held by a member carries voting rights under the articles of association of the company, and if so, whether such voting rights are conditional; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the date on which the name of any person was entered on the register as a member; and </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the date on which any person ceased to be a member. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Under Cayman Islands law, the register of members of our Company is prima
facie evidence of the matters set out therein (i.e. the register of members will raise a presumption of fact on the matters referred to
above unless rebutted) and a member registered in the register of members should be deemed as a matter of Cayman Islands law to have legal
title to the shares as set against its name in the register of members. Once our register of members has been updated, the shareholders
recorded in the register of members should be deemed to have legal title to the shares set against their name.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">If the name of any person is incorrectly entered in, or omitted from, our
register of members, or if there is any default or unnecessary delay in entering on the register the fact of any person having ceased
to be a member of our company, the person or member aggrieved (or any member of our Company or our Company itself) may apply to the Cayman
Islands Grand Court for an order that the register be rectified, and the Court may either refuse such application or it may, if satisfied
of the justice of the case, make an order for the rectification of the register.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>History of Securities Issuances</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">The following is a summary of our securities issuances for the past three
years.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">From January&nbsp;1, 2022 to December 31, 2024, we issued (i) an aggregate
of 15,970 ordinary shares upon the exercise of share options granted to our executive officers and employees, with a weighted average
exercise price of $0.95 per share; (ii) an aggregate of 101,098 restricted shares to our executive officers and non-employee directors,
all of which are fully vested as of the date of this prospectus; (iii) an aggregate of 76,014 ordinary shares upon the achievement of
certain time-based and performance-based conditions with respect to research and development progress to one former employee, with a total
fair market value equal to RMB 800,000 (approximately $112,000); (iii) 1,271,187 ordinary shares to an investor in a registered offering.
The gross proceeds from the offering were approximately $3.0 million, before deducting expenses.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">In connection with our initial public offering, we adopted the 2017 Omnibus
Incentive Plan to provide additional incentives to selected directors, officers, employees and consultants, and to enable our Company
to obtain and retain the services of these individuals. In March&nbsp;2021, the shareholders approved the 2017 Omnibus Incentive Plan,
as amended and restated effective September&nbsp;18, 2020 (the &ldquo;Amended 2017 Plan&rdquo;), to permit the grant of &ldquo;incentive
stock options.&rdquo; The Amended 2017 Plan enables us to grant options (including incentive stock options), restricted shares or other
awards to our directors, employees and consultants. We authorized 5,277,197 ordinary shares to be available for grant pursuant to awards
under the Amended 2017 Plan, and as of June 30, 2025, there were 1,458,297 ordinary shares remaining available for grant. As of June 30,
2025, there were the following outstanding awards under the Amended 2017 Plan: (i) 5,500 unvested restricted shares, all of which were
subject to time-based vesting; (ii) 2,737,797 options, of which 2,047,499 were vested (with a weighted average exercise price of $4.88
per share) and 690,298 were unvested (with a weighted average exercise price of $5.38 per share) (of which 411,418 were subject to time-based
vesting and 278,880 were subject to performance-based vesting).</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Differences in Corporate Law</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">The Companies Act is derived, to a large extent, from the older Companies
Acts of England but does not follow recent United Kingdom statutory enactments, and accordingly there are significant differences between
the Companies Act and the current Companies Act of England. In addition, the Companies Act differs from laws applicable to United States
corporations and their shareholders. Set forth below is a summary of the significant differences between the provisions of the Companies
Act applicable to us and the laws applicable to companies incorporated in the United States and their shareholders.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Mergers and Similar Arrangements </I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">The Companies Act permits mergers and consolidations between Cayman Islands
companies and between Cayman Islands companies and non-Cayman Islands companies. For these purposes, (a) &ldquo;merger&rdquo; means the
merging of two or more constituent companies and the vesting of their undertaking, property and liabilities in one of such companies as
the surviving company and (b) a &ldquo;consolidation&rdquo; means the combination of two or more constituent companies into a combined
company and the vesting of the undertaking, property and liabilities of such companies to the consolidated company. In order to effect
such a merger or consolidation, the directors of each constituent company must approve a written plan of merger or consolidation, which
must then be authorized by (a)&nbsp;a special resolution of the shareholders of each constituent company and (b) such other authorization,
if any, as may be specified in such constituent company&rsquo;s articles of association. The written plan of merger or consolidation must
be filed with the Registrar of Companies together with a declaration as to the solvency of the consolidated or surviving company, a declaration
as to the assets and liabilities of each constituent company and an undertaking that a copy of the certificate of merger or consolidation
will be given to the members and creditors of each constituent company and that notification of the merger or consolidation will be published
in the Cayman Islands Gazette. Dissenting shareholders have the right to be paid the fair value of their shares (which, if not agreed
between the parties, will be determined by the Cayman Islands court) if they follow the required procedures, subject to certain exceptions.
Court approval is not required for a merger or consolidation which is effected in compliance with these statutory procedures.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">In addition, there are statutory provisions that facilitate the reconstruction
and amalgamation of companies, provided that the arrangement is approved by (a) 75% in value of the shareholders or class of shareholders,
as the case may be, or (b) a majority in number representing 75% in value of the creditors or each class of creditors, as the case may
be, with whom the arrangement is to be made, and that are, in each case, present and voting either in person or by proxy at a meeting,
or meetings, convened for that purpose. The convening of the meetings and subsequently the arrangement must be sanctioned by the Grand
Court of the Cayman Islands. While a dissenting shareholder has the right to express to the court the view that the transaction ought
not to be approved, the Grand Court can be expected to approve the arrangement if it determines that:</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the statutory provisions as to the required majority vote have been met; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the shareholders have been fairly represented at the meeting in question and the statutory majority are acting bona fide without coercion of the minority to promote interests adverse to those of the class; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the arrangement is such that may be reasonably approved by an intelligent and honest man of that class acting in respect of his interest; and </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the arrangement is not one that would more properly be sanctioned under some other provision of the Companies Act. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">When a takeover offer is made and accepted by holders of 90% of the shares
affected within four months, the offeror may, within a two-month period commencing on the expiration of such four month period, require
the holders of the remaining shares to transfer such shares on the terms of the offer. An objection can be made to the Grand Court of
the Cayman Islands, but this is unlikely to succeed in the case of an offer which has been so approved unless there is evidence of fraud,
bad faith or collusion.</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">If an arrangement and reconstruction is thus approved, the dissenting shareholder
would have no rights comparable to appraisal rights, which would otherwise ordinarily be available to dissenting shareholders of Delaware
corporations, providing rights to receive payment in cash for the judicially determined value of the shares.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Shareholders&rsquo; Suits</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">In principle, we will normally be the proper plaintiff to sue for a wrong
done to us as a company and a derivative action may ordinarily not be brought by a minority shareholder. However, based on English authority,
which would in all likelihood be of persuasive authority in the Cayman Islands, the Cayman Islands courts can be expected (and&nbsp;have
had occasion) to follow and apply the common law principles (namely the rule in Foss v. Harbottle and the exceptions thereto) so that
a minority shareholder may be permitted to commence a representative action against, or derivative actions in the name of, our Company
to challenge:</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">an act which is ultra vires the company or illegal and is therefore incapable of ratification by the shareholders, </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">an act which constitutes a fraud against the minority where the wrongdoers are themselves in control of the company, or </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">an act which requires a resolution with a qualified (or special) majority (i.e. more than a simple majority) which has not been obtained. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Indemnification of Directors and Executive Officers and Limitation of Liability </I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">Cayman Islands law does not limit the extent to which a company&rsquo;s memorandum
and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be
held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences
of committing a crime. Our amended and restated memorandum and articles of association require us to indemnify every director, alternate
director, secretary, assistant secretary, or other officer for the time being and from time to time of our Company (but not including
our auditors) and the personal representatives of the same against all actions, proceedings, costs, charges, expenses, losses, damages
or liabilities incurred or sustained by such indemnified person, other than by reason of such indemnified person&rsquo;s own dishonesty,
willful default or fraud, in or about the conduct of our Company&rsquo;s business or affairs (including as a result of any mistake of
judgment) or in the execution or discharge of his duties, powers, authorities or discretions, including without prejudice to the generality
of the foregoing, any costs, expenses, losses or liabilities incurred by such indemnified person in defending (whether successfully or
otherwise) any civil proceedings concerning us or our affairs in any court whether in the Cayman Islands or elsewhere. This standard of
conduct is generally the same as permitted under the Delaware General Corporation Law for a Delaware corporation.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">In addition, we have entered into indemnification agreements with each of
our directors and executive officers that provide such persons with additional indemnification beyond that provided in our amended and
restated memorandum and articles of association.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to our directors, officers or persons controlling us under the foregoing provisions, we have been informed that in the
opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Directors&rsquo; Fiduciary Duties</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Under Delaware corporate law, a director of a Delaware corporation has a
fiduciary duty to the corporation and its shareholders. This duty has two components: the duty of care and the duty of loyalty. The duty
of care requires that a director act in good faith, with the care that an ordinarily prudent person would exercise under similar circumstances.
Under this duty, a director must inform himself of, and disclose to shareholders, all material information reasonably available regarding
a significant transaction. The duty of loyalty requires that a director acts in a manner he reasonably believes to be in the best interests
of the corporation. He must not use his corporate position for personal gain or advantage. This duty prohibits self-dealing by a director
and mandates that the best interest of the corporation and its shareholders take precedence over any interest possessed by a director,
officer or controlling shareholder and not shared by the shareholders generally. In general, actions of a director are presumed to have
been made on an informed basis, in good faith and in the honest belief that the action taken was in the best interests of the corporation.
However, this presumption may be rebutted by evidence of a breach of one of the fiduciary duties. Should such evidence be presented concerning
a transaction by a director, the director must prove the procedural fairness of the transaction, and that the transaction was of fair
value to the corporation.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">As a matter of Cayman Islands law, a director of a Cayman Islands company
is in the position of a fiduciary with respect to the company and therefore it is considered that he owes the following duties to the
company &mdash; a duty to act in good faith in the best interests of the company, a duty not to make a personal profit based on his position
as director (unless the company permits him to do so), a duty not to put himself in a position where the interests of the company conflict
with his personal interest or his duty to a third party and a duty to exercise powers for the purpose for which such powers were intended.
A director of a Cayman Islands company owes to the company a duty to act with skill and care. It was previously considered that a director
need not exhibit in the performance of his duties a greater degree of skill than may reasonably be expected from a person of his knowledge
and experience. However, English and Commonwealth courts have moved towards an objective standard with regard to the required skill and
care and these authorities are likely to be followed in the Cayman Islands.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Shareholder Action by Written Consent </I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">Under the Delaware General Corporation Law, a corporation may eliminate the
right of shareholders to act by written consent by amendment to its certificate of incorporation. Cayman Islands law and our amended and
restated articles of association provide that shareholders may approve corporate matters by way of a unanimous written resolution signed
by or on behalf of each shareholder who would have been entitled to vote on such matter at a general meeting without a meeting being held.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Shareholder Proposals</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Under the Delaware General Corporation Law, a shareholder has the right to
put any proposal before the annual meeting of shareholders, provided it complies with the notice provisions in the governing documents.
A special meeting may be called by the board of directors or any other person authorized to do so in the governing documents, but shareholders
may be precluded from calling special meetings.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Cayman Islands law provides shareholders with only limited rights to requisition
a general meeting, and does not provide shareholders with any right to put any proposal before a general meeting. However, these rights
may be provided in articles of association. Our amended and restated articles of association allow our shareholders holding not less than
ten percent of all voting power of our share capital in issue to requisition a shareholder&rsquo;s meeting, in which case our board of
directors is obliged to call such meeting and to put the resolutions so requisitioned to a vote at such meeting. Other than this right
to requisition a shareholders&rsquo; meeting, our amended and restated articles of association do not provide our shareholders other right
to put proposal before a meeting. As an exempted Cayman Islands company, we are not obliged by law to call shareholders&rsquo; annual
general meetings.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Cumulative Voting</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Under the Delaware General Corporation Law, cumulative voting for elections
of directors is not permitted unless the corporation&rsquo;s certificate of incorporation specifically provides for it. Cumulative voting
potentially facilitates the representation of minority shareholders on a board of directors since it permits the minority shareholder
to cast all the votes to which the shareholder is entitled on a single director, which increases the shareholder&rsquo;s voting power
with respect to electing such director. There are no prohibitions in relation to cumulative voting under the laws of the Cayman Islands
but our amended and restated articles of association do not provide for cumulative voting. As a result, our shareholders are not afforded
any less protections or rights on this issue than shareholders of a Delaware corporation.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Removal of Directors</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Under the Delaware General Corporation Law, a director of a corporation with
a classified board may be removed only for cause with the approval of a majority of the outstanding shares entitled to vote, unless the
certificate of incorporation provides otherwise. Under our amended and restated articles of association, directors may be removed with
or without cause, by an ordinary resolution of our shareholders.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Transactions with Interested Shareholders</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I></I></B>&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I></I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">The Delaware General Corporation Law contains a business combination statute
applicable to Delaware corporations whereby, unless the corporation has specifically elected not to be governed by such statute by amendment
to its certificate of incorporation, it is prohibited from engaging in certain business combinations with an &ldquo;interested shareholder&rdquo;
for three years following the date that such person becomes an interested shareholder. An interested shareholder, generally, is a person
who, or a group which, owns or owned 15% or more of the target&rsquo;s outstanding voting share within the past three years. This has
the effect of limiting the ability of a potential acquirer to make a two-tiered bid for the target in which all shareholders would not
be treated equally. The statute does not apply if, among other things, prior to the date on which such shareholder becomes an interested
shareholder, the board of directors approves either the business combination or the transaction which resulted in the person becoming
an interested shareholder. This encourages any potential acquirer of a Delaware corporation to negotiate the terms of any acquisition
transaction with the target&rsquo;s board of directors.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Cayman Islands law has no comparable statute. As a result, we cannot avail
ourselves of the types of protections afforded by the Delaware business combination statute. However, although Cayman Islands law does
not regulate transactions between a company and its significant shareholders, it does provide that such transactions must be entered into
bona fide in the best interests of the company and for a proper purpose and not with the effect of constituting a fraud on the minority
shareholders.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Dissolution; Winding up </I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">Under the Delaware General Corporation Law, unless the board of directors
approves the proposal to dissolve, dissolution must be approved by shareholders holding 100% of the total voting power of the corporation.
Only if the dissolution is initiated by the board of directors may it be approved by a simple majority of the corporation&rsquo;s outstanding
shares. Delaware law allows a Delaware corporation to include in its certificate of incorporation a supermajority voting requirement in
connection with dissolutions initiated by the board.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Under Cayman Islands law, a company may be wound up by either an order of
the courts of the Cayman Islands or by a special resolution of its members or, if the company is unable to pay its debts as they fall
due, by an ordinary resolution of its members. The court has authority to order winding up in a number of specified circumstances including
where it is, in the opinion of the court, just and equitable to do so. Under the Companies Act and our amended and restated articles of
association, our Company may be dissolved, liquidated or wound up by a special resolution of our shareholders, or by an ordinary resolution
on the basis that our Company is unable to pay its debts as they fall due.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Variation of Rights of Shares</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Under the Delaware General Corporation Law, a corporation may vary the rights
of a class of shares with the approval of a majority of the outstanding shares of such class, unless the certificate of incorporation
provides otherwise. Under Cayman Islands law and our amended and restated articles of association, if our share capital is divided into
more than one class of shares, we may vary the rights attached to any class with the written consent of the holders of not less than two
thirds of the issued shares of that class or with the sanction of a special resolution passed at a general meeting of the holders of the
shares of that class.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Amendment of Governing Documents</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Under the Delaware General Corporation Law, a corporation&rsquo;s governing
documents may be amended with the approval of a majority of the outstanding shares entitled to vote, unless the certificate of incorporation
provides otherwise. Under Cayman Islands law, our amended and restated memorandum and articles of association may only be amended with
a special resolution of our shareholders.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Rights of Non-resident or Foreign Shareholders</I></B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">There are no limitations imposed by our amended and restated memorandum and
articles of association on the rights of non-resident or foreign shareholders to hold or exercise voting rights on our shares. In addition,
there are no provisions in our amended and restated memorandum and articles of association governing the ownership threshold above which
shareholder ownership must be disclosed.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Transfer Agent and Registrar</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">The transfer agent and registrar for our ordinary shares is Continental
Stock Transfer &amp; Trust Company.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Listing</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">Our ordinary shares are listed on the Nasdaq under the symbol &ldquo;BYSI.&rdquo;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_008"></A>PLAN OF DISTRIBUTION</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">We may sell or distribute our ordinary shares from time to time in one or
more public or private transactions:</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">through underwriters; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">through agents; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">to dealers; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">directly to one or more purchasers; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">in &ldquo;at the market&rdquo; offerings, within the meaning of Rule&nbsp;415(a)(4) of the Securities Act, to or through a market maker or into an existing trading market on an exchange or otherwise; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">in block trades; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">through a combination of any of the above; and </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any other method permitted pursuant to applicable law. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">Any sale or distribution may be effected by us:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">at market prices prevailing at the time of sale; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">at varying prices determined at the time of sale; or </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">at negotiated or fixed prices. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">At any time a particular offer of the ordinary shares is made, a prospectus
supplement, if required, will be distributed and set forth the terms of each specific offering, including the name or names of any underwriters
or agents, the purchase price of the ordinary shares and the proceeds to us from such sales or distribution, any delayed delivery arrangements,
any underwriting discounts and other items constituting underwriters&rsquo; compensation, any initial public offering price and any discounts
or concessions allowed or re-allowed or paid to dealers. Any initial public offering price and any discounts or concessions allowed or
re-allowed or paid to dealers may be changed from time to time.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">In addition, we may distribute the ordinary shares as a dividend or in a
rights offering to our existing security holders. In some cases, we or dealers acting for us or on behalf of us may also repurchase the
ordinary shares and reoffer them to the public by one or more of the methods described above.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Through Underwriters</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B></B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">If underwriters are used in a sale or distribution, the ordinary shares will
be acquired by the underwriters for their own account and may be resold from time to time in one or more transactions, including negotiated
transactions, at a fixed public offering price or at varying prices determined at the time of sale. The ordinary shares may be offered
to the public either through underwriting syndicates represented by one or more managing underwriters or directly by one or more firms
acting as underwriters. The underwriter or underwriters with respect to a particular underwritten offering and, if an underwriting syndicate
is used, the managing underwriter or underwriters will be set forth on the cover of such prospectus supplement. Unless otherwise set forth
in the prospectus supplement, the underwriters will be obligated to purchase all the ordinary shares if any are purchased.</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">During and after an offering through underwriters, the underwriters may purchase
and sell or distribute the ordinary shares in the open market. These transactions may include overallotment and stabilizing transactions
and purchases to cover syndicate short positions created in connection with the offering. The underwriters also may impose a penalty bid,
under which selling concessions allowed to syndicate members or other broker-dealers for the ordinary shares they sell or distribute for
their account may be reclaimed by the syndicate if the syndicate repurchases the ordinary shares in stabilizing or covering transactions.
These activities may stabilize, maintain or otherwise affect the market price of the ordinary shares, which may be higher than the price
that might otherwise prevail in the open market, and, if commenced, may be discontinued at any time.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>Through Agents or to Dealers</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">We may sell or distribute the ordinary shares directly or through agents
we designate from time to time. Unless otherwise indicated in a prospectus supplement, any such agent will be acting on a best efforts
basis for the period of its appointment.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">If dealers are used in any of the sales or distribution of the ordinary shares
covered by this prospectus, we will sell those ordinary shares to dealers as principals. The dealers may then resell the ordinary shares
to the public at varying prices the dealers determine at the time of resale.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Direct Sales</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">We may sell or distribute the ordinary shares directly to institutional investors
or others who may be deemed to be underwriters within the meaning of the Securities Act with respect to any sale thereof.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Delayed Delivery</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">If so indicated in a prospectus supplement, we may authorize agents, underwriters
or dealers to solicit offers from certain types of institutions to purchase the ordinary shares from us at the public offering price set
forth in the prospectus supplement pursuant to delayed delivery contracts providing for payment and delivery on a specified date in the
future. These contracts will be subject only to those conditions set forth in the prospectus supplement, and the prospectus supplement
will set forth the commission payable for solicitation of such contracts.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Derivative Transactions and Hedging</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">We and the underwriters may engage in derivative transactions involving the
ordinary shares. These derivatives may consist of short sale transactions and other hedging activities. The underwriters may acquire a
long or short position in the ordinary shares, hold or resell ordinary shares acquired and purchase options or futures on the ordinary
shares and other derivative instruments with returns linked to or related to changes in the price of the ordinary shares. In order to
facilitate these derivative transactions, we may enter into security lending or repurchase agreements with the underwriters. The underwriters
may carry out the derivative transactions through sales or distributions of the ordinary shares to the public, including short sales,
or by lending the ordinary shares in order to facilitate short sale transactions by others. The underwriters may also use the ordinary
shares purchased or borrowed from us or others (or, in the case of derivatives, ordinary shares received from us in settlement of those
derivatives) to directly or indirectly settle sales of the ordinary shares or close out any related open borrowings of the ordinary shares.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Loans of Securities</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">We may loan or pledge the ordinary shares to a financial institution or other
third party that in turn may sell the ordinary shares using this prospectus and an applicable prospectus supplement.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>General </B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">Agents, dealers and direct purchasers that participate in the distribution
of the offered ordinary shares may be underwriters as defined in the Securities Act and any discounts or commissions they receive from
us and any profit on the resale of the offered ordinary shares by them may be treated as underwriting discounts and commissions under
the Securities Act. Agents, dealers and underwriters may be entitled under agreements entered into with us to indemnification by us against
certain civil liabilities, including liabilities under the Securities Act, or to contribution with respect to payments which such agents,
dealers or underwriters may be required to make in respect thereof. Agents, dealers and underwriters may be customers of, engage in transactions
with, or perform services on our behalf.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_009"></A>WHERE YOU CAN FIND MORE INFORMATION</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">This prospectus is part of a registration statement we filed with the SEC,
with respect to the ordinary shares we will offer. For purposes of this section, the term registration statement means the prior registration
statement and any and all amendments including the schedules and exhibits to the prior registration statement and this registration statement,
which is combined with the prior registration statement pursuant to Rule&nbsp;429 under the Securities Act, and is being amended by this
Post-Effective Amendment No.1. This prospectus and any accompanying prospectus supplement do not contain all the information contained
in the registration statement, including its exhibits and schedules. You should refer to the registration statement, including the exhibits
and schedules, for further information about us and the ordinary shares we may offer. Statements we make in this prospectus and any accompanying
prospectus supplement about certain contracts or other documents are not necessarily complete. When we make such statements, we refer
you to the copies of the contracts or documents that are filed as exhibits to the registration statement, because those statements are
qualified in all respects by reference to those exhibits. The registration statement, including exhibits and schedules, is on file at
the office of the SEC and may be inspected without charge.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">We file annual, quarterly and current reports, proxy statements and other
information with the SEC. Our SEC filings are available to the public at the SEC&rsquo;s website at www.sec.gov. We maintain a corporate
website at www.beyondspringpharma.com. We do not incorporate the information on our website into this prospectus or any supplement to
this prospectus and you should not consider any information on, or that can be accessed through, our website as part of this prospectus
or any supplement to this prospectus (other than those filings with the SEC that we specifically incorporate by reference into this prospectus
or any supplement to this prospectus).</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_010"></A>INCORPORATION BY REFERENCE</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">The SEC allows us to &ldquo;incorporate by reference&rdquo; into this prospectus
the information in documents we file with it. This means that we can disclose important information to you by referring you to those documents.
Each document incorporated by reference is current only as of the date of such document, and the incorporation by reference of such documents
shall not create any implication that there has been no change in our affairs since the date thereof or that the information contained
therein is current as of any time subsequent to its date. The information incorporated by reference is considered to be a part of this
prospectus and should be read with the same care. When we update the information contained in documents that have been incorporated by
reference by making future filings with the SEC, the information incorporated by reference in this prospectus is considered to be automatically
updated and superseded. In other words, in the case of a conflict or inconsistency between information contained in this prospectus and
information incorporated by reference into this prospectus, you should rely on the information contained in the document that was filed
later.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">We incorporate by reference the documents listed below:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our annual report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 2024, filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/1677940/000117184325001758/0001171843-25-001758-index.htm">March&nbsp;27, 2025</A>; </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD>
    <TD STYLE="text-align: justify"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our quarterly reports on Form 10-Q for the fiscal quarters ended March 31, 2025 and June 30, 2025, filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/1677940/000117184325003088/0001171843-25-003088-index.htm">May 12, 2025</A> and <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1677940/000117184325005376/bysi20250630_10q.htm">August 13, 2025</A>, respectively; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">our current reports on Form&nbsp;8-K filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/1677940/000117184325000457/0001171843-25-000457-index.htm">January 28, 2025</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1677940/000117184325001050/0001171843-25-001050-index.htm">February 25, 2025</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1677940/000117184325002158/0001171843-25-002158-index.htm">April 11, 2025</A> and <A HREF="https://www.sec.gov/Archives/edgar/data/1677940/000117184325004306/0001171843-25-004306-index.htm">July 3, 2025</A>; </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the description of share capital contained in the Registration Statement on Form&nbsp;8-A, as filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/1677940/000156761917000377/0001567619-17-000377-index.htm">March&nbsp;6, 2017</A> (File No. 001-38024), and including any amendments or reports filed for the purpose of updating such description; and </FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">with respect to each offering of ordinary shares under this prospectus, all documents (other than current reports furnished under Item 2.02 or Item 7.01 of Form 8-K and exhibits filed on such form that are related to such items) that are filed by us with the SEC pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act on or after the date on which this registration statement is first filed with the SEC and until the termination or completion of that offering under this prospectus. </FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">Unless expressly incorporated by reference, nothing in this prospectus shall
be deemed to incorporate by reference information furnished to, but not filed with, the SEC. Copies of all documents incorporated by
reference in this prospectus, other than exhibits to those documents unless such exhibits are specially incorporated by reference in
this prospectus, will be provided at no cost to each person, including any beneficial owner, who receives a copy of this prospectus on
the written or oral request of that person made to:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">BeyondSpring Inc.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">100 Campus Drive, West Side, 4<SUP>th</SUP> Floor, Suite 410</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Florham Park, New Jersey 07932</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Tel: +1 (646) 305-6387</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Attention: Chief Executive Officer</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_011"></A>ENFORCEMENT OF CIVIL LIABILITIES</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">We are incorporated under the laws of the Cayman Islands as an exempted company
with limited liability. We incorporated in the Cayman Islands because of certain benefits associated with being a Cayman Islands corporation,
such as political and economic stability, an effective judicial system, a favorable tax system, the absence of foreign exchange control
or currency restrictions and the availability of professional and support services. However, the Cayman Islands have a less developed
body of securities laws that provide significantly less protection to investors as compared to the securities laws of the United States.
In addition, Cayman Islands companies may not have standing to sue before the federal courts of the United States.</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">A portion of our assets, including certain Chinese patents, are located in
China. In addition, some of our directors and officers are residents of jurisdictions other than the United States and all or a substantial
portion of their assets are located outside the United States. As a result, it may be difficult for investors to effect service of process
within the United States upon us or our directors and officers, or to enforce against us or them judgments obtained in United States courts,
including judgments predicated upon the civil liability provisions of the securities laws of the United States or any state in the United
States.</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">Maples and Calder (Hong Kong) LLP, our counsel as to Cayman Islands law,
and Beijing Dacheng Law Offices, LLP, our counsel as to Chinese law, have respectively advised us that the courts of the Cayman Islands
and China are, respectively, unlikely (1) to recognize and enforce judgments of United States courts obtained against us or our directors
or officers that are predicated upon the civil liability provisions of the securities laws of the United States or any state in the United
States, and (2) in original actions brought in the Cayman Islands to impose liabilities against us or our directors or officers that are
predicated upon the civil liability provisions of federal securities laws of the United States or the securities laws of any state in
the United States so far as the liabilities imposed by those provisions are penal in nature.</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">Maples and Calder (Hong Kong) LLP has further advised us that although there
is no statutory enforcement in the Cayman Islands of judgments obtained in the United States (and the Cayman Islands are not a party to
any treaties for the reciprocal enforcement or recognition of such judgments), the courts of the Cayman Islands will at common law, recognize
and enforce a foreign money judgment of a foreign court of competent jurisdiction without any re-examination of the merits of the underlying
dispute based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the
liquidated sum for which such judgment has been given, provided such judgment (1) is given by a foreign court of competent jurisdiction,
(2) imposes on the judgment debtor a liability to pay a liquidated sum for which the judgment has been given, (3) is final and conclusive,
(4) is not in respect of taxes, a fine or a penalty, (5) was not obtained in a manner and is not of a kind the enforcement of which is
contrary to natural justice or the public policy of the Cayman Islands, (6) not inconsistent with a Cayman Islands judgement in respect
of the same matter and (7) not impeachable on the grounds of fraud. A Cayman Islands Court may stay enforcement proceedings if concurrent
proceedings are being brought elsewhere.</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">Beijing Dacheng Law Offices, LLP has advised us that the recognition and
enforcement of foreign judgments are provided for under the PRC Civil Procedure Law. Chinese courts may recognize and enforce foreign
judgments in accordance with the requirements of the PRC Civil Procedure Law based either on treaties between China and the country where
the judgment is made or on principles of reciprocity between jurisdictions. Beijing Dacheng Law Offices, LLP has advised us further that
under Chinese law, courts in China will not recognize or enforce a foreign judgment against us or our directors and officers if they decide
that the judgment violates the basic principles of Chinese law or national sovereignty, security or social public interest. As there exists
no treaty or other form of reciprocity between China and the United States governing the recognition and enforcement of judgments as of
the date of this prospectus, including those predicated upon the liability provisions of the United States federal securities laws, there
is uncertainty whether and on what basis a Chinese court would enforce judgments rendered by United States courts. In addition, because
there is no treaty or other form of reciprocity between the Cayman Islands and China governing the recognition and enforcement of judgments
as of the date of this prospectus, there is further uncertainty as to whether and on what basis a PRC court would enforce judgments rendered
by a Cayman Islands court.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_012"></A>LEGAL MATTERS</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">The validity of the ordinary shares relating to Cayman Islands law will be
passed upon for us by Maples and Calder (Hong Kong) LLP. Certain legal matters relating to Chinese law will be passed upon for us by Beijing
Dacheng Law Offices, LLP. Certain legal matters relating to U.S. law will be passed upon for us by Skadden, Arps, Slate, Meagher &amp;
Flom LLP, New York, New York.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_013"></A>EXPERTS</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">The consolidated financial statements of BeyondSpring Inc. as of and for
the years ended December&nbsp;31, 2024 and 2023 appearing in BeyondSpring Inc.&rsquo;s Annual Report on Form&nbsp;10-K for the year ended
December&nbsp;31, 2024 have been audited by Marcum LLP, independent registered public accounting firm, as set forth in their report thereon,
included therein, and incorporated herein by reference. Such consolidated financial statements are incorporated herein by reference in
reliance upon such report given on the authority of such firm as experts in accounting and auditing.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>


<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>PART II</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&emsp; </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>INFORMATION NOT REQUIRED IN PROSPECTUS</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 67px"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;14.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Other Expenses of Issuances and Distribution</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">The expenses relating to the registration of the ordinary shares will be
borne by the registrant.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 89%; font-size: 10pt; text-align: left">Securities and Exchange Commission Registration Fee</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">10,536</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Accounting Fees and Expenses</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">*</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Legal Fees and Expenses</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">*</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Printing Fees</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">*</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Transfer Agents and Trustees&rsquo; Fees and Expenses</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">*</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Rating Agency Fees</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">*</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Stock Exchange Listing Fees</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">*</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Miscellaneous</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">*</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">Total</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">*</TD><TD STYLE="font-size: 10pt; text-align: left"></TD></TR>
  </TABLE>

<P STYLE="font-size: 10pt; text-indent: 0in; margin: 0pt 4.5in 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">* <FONT STYLE="background-color: white">Fees and expenses (other than the Securities and Exchange
Commission registration fee paid at the time of the initial filing of the registration statement on Form F-3) will depend on the number
and nature of the offerings, and cannot be estimated at this time. An estimate of the aggregate expenses in connection with the issuance
and distribution of ordinary shares being offered will be included in any applicable prospectus supplement.</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 67px"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;15.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Indemnification of Directors, Officers and Employees </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">Cayman Islands law does not limit the extent to which a company&rsquo;s memorandum
and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be
held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences
of committing a crime. Our amended and restated memorandum and articles of association require us to indemnify every director, alternate
director, secretary, assistant secretary, or other officer for the time being and from time to time of our Company (but not including
our auditors) and the personal representatives of the same against all actions, proceedings, costs, charges, expenses, losses, damages
or liabilities incurred or sustained by such indemnified person, other than by reason of such indemnified person&rsquo;s own dishonesty,
willful default or fraud, in or about the conduct of our Company&rsquo;s business or affairs (including as a result of any mistake of
judgment) or in the execution or discharge of his duties, powers, authorities or discretions, including without prejudice to the generality
of the foregoing, any costs, expenses, losses or liabilities incurred by such indemnified person in defending (whether successfully or
otherwise) any civil proceedings concerning us or our affairs in any court whether in the Cayman Islands or elsewhere. This standard of
conduct is generally the same as permitted under the Delaware General Corporation Law for a Delaware corporation.</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">In addition, we entered into indemnification agreements with each of our
directors and executive officers that provide such persons with additional indemnification beyond that provided in our amended and restated
memorandum and articles of association.</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to our directors, officers or persons controlling us under the foregoing provisions, we have been informed that in the
opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 67px"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;16.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Exhibits </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-indent: 20pt">The exhibits listed on the exhibit index at the end of this Registration
Statement have been furnished together with this Registration Statement.</P>

<P STYLE="font-size: 10pt; text-indent: 20pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 67px"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;17.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Undertakings </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(a)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The undersigned registrant hereby undertakes: </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement: </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">to include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act of 1933; </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or any decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule&nbsp;424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement; and </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement; </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><I>provided, however</I>, that paragraphs (a)(i)(1), (a)(i)(2) and (a)(i)(3)
of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to the SEC by the registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d)</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">of the Securities Exchange Act of 1934 that are incorporated by reference
in the Registration Statement, or is contained in a form of prospectus filed pursuant to Rule&nbsp;424(b) that is part of the Registration
Statement.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(iv)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser: </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">each prospectus filed by the registrant pursuant to Rule&nbsp;424(b)(3) shall be deemed to be part of the Registration Statement as of the date the filed prospectus was deemed part of and included in the Registration Statement; and </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">each prospectus required to be filed pursuant to Rule&nbsp;424(b)(2), (b)(5) or (b)(7) as part of a registration statement in reliance on Rule&nbsp;430B relating to an offering made pursuant to Rule&nbsp;415(a)(1)(i), (vii) or (x) for the purpose of providing the information required by section&nbsp;10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule&nbsp;430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(v)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">That, for the purpose of determining liability of the undersigned registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities of the undersigned registrant, the undersigned registrant undertakes that in a primary offering of its securities pursuant to this Registration Statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser: </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule&nbsp;424; </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant; </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">any other communication that is an offer in the offering made by the undersigned registrant to the purchaser. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant&rsquo;s annual report pursuant to Section&nbsp;13(a) or Section&nbsp;15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="width: 20pt"><FONT STYLE="font-size: 10pt">(c)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>EXHIBIT INDEX </B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 73px"><FONT STYLE="font-size: 10pt">Exhibit&nbsp;No.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Description </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: black 1pt solid">
    <P STYLE="font-size: 10pt; margin: 0pt 0"><B>Exhibit&nbsp;</B></P>
    <P STYLE="font-size: 10pt; margin: 0pt 0"><B>No.</B></P></TD>
    <TD STYLE="width: 1%; border-bottom: white 1pt solid"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 84%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Description </B></FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">1.1*</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Form&nbsp;of Underwriting Agreement </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/1677940/000156761916003199/s001331x6_ex3-1.htm"><FONT STYLE="font-size: 10pt">3.1**</FONT></A></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><A HREF="https://www.sec.gov/Archives/edgar/data/1677940/000156761916003199/s001331x6_ex3-1.htm"><FONT STYLE="font-size: 10pt">Amended and Restated Memorandum and Articles of Association of the Registrant</FONT></A></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/1677940/000156761917000147/s001331x8_ex4-1.htm"><FONT STYLE="font-size: 10pt">4.1**</FONT></A></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><A HREF="https://www.sec.gov/Archives/edgar/data/1677940/000156761917000147/s001331x8_ex4-1.htm"><FONT STYLE="font-size: 10pt">Registrant&rsquo;s Specimen Certificate for Ordinary Shares </FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><A HREF="exh_51.htm">5.1&dagger;</A></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><A HREF="exh_51.htm">Opinion of Maples and Calder (Hong Kong) LLP, Cayman counsel to the Registrant, as to the validity of the ordinary shares being registered (including consent)</A></FONT></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><A HREF="exh_51.htm">23.1&dagger;</A></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><A HREF="exh_51.htm">Consent of Maples and Calder (Hong Kong) LLP (included in the opinion filed as Exhibit&nbsp;5.1)</A></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><A HREF="exh_232.htm"><FONT STYLE="font-size: 10pt">23.2&dagger;</FONT></A></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><A HREF="exh_232.htm"><FONT STYLE="font-size: 10pt">Consent of Marcum LLP </FONT></A></TD></TR>
  <TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="https://www.sec.gov/Archives/edgar/data/1677940/000114036124029900/ny20030251x1_ex107.htm"><FONT STYLE="font-size: 10pt">107 ***</FONT></A></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><A HREF="https://www.sec.gov/Archives/edgar/data/1677940/000114036124029900/ny20030251x1_ex107.htm"><FONT STYLE="font-size: 10pt">Filing Fee Table</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 27px"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To be filed as an exhibit to a post-effective amendment to this Registration Statement or as an exhibit to a current report on Form&nbsp;8-K to be filed under the Exchange Act and incorporated herein by reference. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 27px"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Previously filed with the Registration Statement on Form&nbsp;F-1 (File No. 333-214610), as amended, initially filed on November&nbsp;15, 2016, and incorporated herein by reference. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 27px"><FONT STYLE="font-size: 10pt">***</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Previously filed with the Registration Statement on Form F-3 (File No. 333-280153), as amended, initially filed on June 12, 2024, and incorporated herein by reference. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 27px"><FONT STYLE="font-size: 10pt">&dagger;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Filed herewith. </FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SIGNATURES</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 20pt; margin: 0pt 0">Pursuant to the requirements of the Securities Act,
the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form&nbsp;S-3 and
has duly caused this Post-Effective Amendment No.1 to Form F-3 on Form S-3 to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Florham Park, New Jersey, on August 13, 2025.</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 20pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">BeyondSpring Inc.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 60%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 30%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Lan Huang</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Lan Huang </FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Chairperson of the Board of Directors and Chief Executive Officer (Principal Executive, Financial and Accounting Officer)</FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 20pt; margin: 0pt 0">Pursuant to the requirements of the Securities Act,
this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated:</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 20pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 25%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Signature and Name</B></FONT></TD>
    <TD STYLE="width: 1%; border-bottom: white 1pt solid"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 53%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></TD>
    <TD STYLE="width: 1%; border-bottom: white 1pt solid"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 20%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Date </B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"></FONT></P>
                                                                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
                                                                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">/s/ Lan Huang</FONT></P></TD>
    <TD STYLE="border-bottom: white 1pt solid"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top">
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">Chairman of the Board of Directors</P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">and Chief Executive Officer</P>
    <P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">(Principal Executive, Financial and Accounting
Officer)</P></TD>
    <TD ROWSPAN="2"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"></FONT></P>
                                                                    <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">August 13, 2025</FONT></P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">Lan Huang</FONT></P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Yingjuan Lu</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Chief Scientific Officer</FONT></TD>
    <TD ROWSPAN="2"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">August 13, 2025</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Yingjuan Lu </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Brendan Delaney</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">August 13, 2025</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Brendan Delaney</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Patrick Fabbio</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD ROWSPAN="2"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">August 13, 2025</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Patrick Fabbio </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Matthew Kirkby</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD ROWSPAN="2"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">August 13, 2025</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Matthew Kirkby </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Jiangwen Majeti</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD ROWSPAN="2"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">August 13, 2025</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Jiangwen Majeti </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Sihai Xu</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid"><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">August 13, 2025</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Sihai Xu</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&NegativeThickSpace;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE UNITED STATES</B></P>

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  <TD>By:</TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Lan Huang</TD>
    <TD>&nbsp;</TD>
  <TD STYLE="text-align: center">Authorized Representative in the United States</TD>
    <TD>&nbsp;</TD>
  <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">August 13, 2025</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD></TD>
  <TD>Name:</TD>
  <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 5%"></TD>
  <TD STYLE="width: 5%">Title:</TD>
  <TD STYLE="width: 28%"><FONT STYLE="font-size: 10pt">Chairperson of the Board of Directors and Chief Executive Officer (Principal Executive, Financial and Accounting
Officer)</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
  <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
  <TD STYLE="width: 30%">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">II-7</P>

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<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>exh_51.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="text-align: right; font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
5.1</B></FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: left"><IMG SRC="maplesgroup.jpg" ALT="" STYLE="height: 114px; width: 120px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
ref&#9;&#9;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;VSL/715660-000001/32891582v2</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BeyondSpring
Inc.</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100
Campus Drive, West Side</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4<SUP>th</SUP>
Floor, Suite 410</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Florham
Park, New Jersey 07932</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13
August 2025</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dear
Sirs,</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BeyondSpring
Inc.</B></FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have acted as Cayman Islands legal advisers to BeyondSpring Inc. (the &quot;<B>Company</B>&quot;) in connection with the Company&rsquo;s
registration statement on Form S-3, including all amendments or supplements thereto, filed with the Securities and Exchange Commission
(the '&quot;<B>SEC</B>&quot;) under the U.S. Securities Act of 1933 on 13 August 2025, as amended to date (the &quot;<B>Registration
Statement</B>&quot;) relating to the offering by the Company of certain ordinary shares of par value US$0.0001 each (the &quot;<B>Shares</B>&quot;).</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are furnishing this opinion as Exhibits 5.1 and 23.1 to the Registration Statement.</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Documents
                                            Reviewed</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the purposes of this opinion, we have reviewed only originals, copies or final drafts of the following documents:</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            certificate of incorporation of the Company dated 21 November 2014.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            amended and restated memorandum and articles of association of the Company as conditionally
                                            adopted by a special resolution passed on 24 February 2017 and effective immediately prior
                                            to the completion of the Company&rsquo;s initial public offering of the Shares (the &quot;<B>Memorandum
                                            and Articles</B>&quot;).</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            written resolutions of the board of directors of the Company (the &quot;<B>Board</B>&quot;)
                                            dated 29 May 2024 and 30 December 2024 (the &quot;<B>Resolutions</B>&quot;).</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>




<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.4</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
                                            certificate from a director of the Company, a copy of which is attached hereto (the &quot;<B>Director's
                                            Certificate</B>&quot;).</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.5</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
                                            certificate of good standing dated 4 August 2025, issued by the Registrar of Companies in
                                            the Cayman Islands (the &quot;<B>Certificate of Good Standing</B>&quot;).</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.6</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Registration Statement.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumptions</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following opinions are given only as to, and based on, circumstances and matters of fact existing and known to us on the date of this
opinion letter. These opinions only relate to the laws of the Cayman Islands which are in force on the date of this opinion letter. In
giving these opinions we have relied (without further verification) upon the completeness and accuracy of the Director's Certificate
and the Certificate of Good Standing. We have also relied upon the following assumptions, which we have not independently verified:</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Copies
                                            of documents, conformed copies or drafts of documents provided to us are true and complete
                                            copies of, or in the final forms of, the originals, and translations of documents provided
                                            to us are complete and accurate.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
                                            signatures, initials and seals are genuine.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
                                            is nothing under any law (other than the law of the Cayman Islands), and there is nothing
                                            contained in the minute book or corporate records of the Company (which we have not inspected),
                                            which would or might affect the opinions set out below.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">Based
upon the foregoing and subject to the qualifications set out below and having regard to such legal considerations as we deem relevant,
we are of the opinion that:</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Company has been duly incorporated as an exempted company with limited liability and is validly
                                            existing and in good standing under the laws of the Cayman Islands.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            authorised share capital of the Company is US$50,000 divided into 500,000,000 ordinary shares
                                            of a par value of US$0.0001 each.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.3</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
                                            (i) the Board has taken all necessary corporate action to approve the issue thereof, the
                                            terms of the offering thereof and related matters; (ii) the issue of such Shares has been
                                            recorded in the Company's register of members (shareholders); and (iii) the subscription
                                            price of such Shares (being not less than the par value of the Shares or Preferred Shares,
                                            as the case may be) has been fully paid in cash or other consideration approved by the Board,
                                            the Shares will be duly authorised, validly issued, fully paid and non-assessable.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Qualifications</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
this opinion the phrase &quot;non-assessable&quot; means, with respect to shares in the Company, that a shareholder shall not,
solely by virtue of its status as a shareholder and in absence of a contractual arrangement, or an obligation pursuant to the
memorandum and articles of association, to the contrary, be liable for additional assessments or calls on the shares by the Company
or its creditors (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an
illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate
veil).</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except
as specifically stated herein, we make no comment with respect to any representations and warranties which may be made by or with respect
to the Company in any of the documents or instruments cited in this opinion or otherwise with respect to the commercial terms of the
transactions the subject of this opinion.</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference to our name under the headings
&quot;Enforcement of Civil Liabilities&quot; and &quot;Legal Matters&quot; and elsewhere in the prospectus included in the Registration
Statement. In giving such consent, we do not thereby admit that we come within the category of persons whose consent is required under
Section 7 of the U.S. Securities Act of 1933, as amended, or the Rules and Regulations of the Commission thereunder.</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yours
faithfully</FONT></P>

<P STYLE="font: 10.5pt Arial Unicode MS; margin: 0pt 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial Unicode MS; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial Unicode MS; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I><U>/s/
Maples and Calder (Hong Kong) LLP</U></I></FONT></P>

<P STYLE="font: 10.5pt Arial Unicode MS; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maples
and Calder (Hong Kong) LLP</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Encl</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Director's
Certificate</B></FONT></P>

<P STYLE="font: 0pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BeyondSpring
Inc.</B></FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100
Campus Drive, West Side</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4<SUP>th</SUP>
Floor, Suite 410</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Florham
Park, New Jersey 07932</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">August
6, 2025</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 3%">To:</TD>
  <TD STYLE="width: 97%">Maples
and Calder (Hong Kong) LLP</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26th
Floor, Central Plaza</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>18
Harbour Road</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Wanchai</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hong
Kong</TD></TR>
</TABLE>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dear
Sirs</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BeyondSpring
Inc. (the &quot;Company&quot;)</B></FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">I,
the undersigned, being a director of the Company, am aware that you are being asked to provide a legal opinion (the &quot;<B>Opinion</B>&quot;)
in relation to certain aspects of Cayman Islands law. Capitalised terms used in this certificate have the meaning given to them in the
Opinion. I hereby certify that:</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 0pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Memorandum and Articles remain in full and effect and are unamended.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 0pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            Board Resolutions were duly passed in the manner prescribed in the Memorandum and Articles
                                            (including, without limitation, with respect to the disclosure of interests (if any) by directors
                                            of the Company) and have not been amended, varied or revoked in any respect.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 0pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            authorised share capital of the Company is US$50,000 divided into 500,000,000 ordinary shares
                                            of a par value of US$0.0001 each.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 0pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            shareholders of the Company have not restricted or limited the powers of the directors in
                                            any way and there is no contractual or other prohibition (other than as arising under Cayman
                                            Islands law) binding on the Company prohibiting it from issuing and allotting the Shares
                                            or otherwise performing its obligations under the Registration Statement.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 0pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            directors of the Company at the date of the Board Resolutions and at the date hereof were
                                            and are as follows: </FONT></TD></TR></TABLE>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lan
Huang</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Brendan
Delaney</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Patrick
Fabbio</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Matthew
Kirkby</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jiangwen
Majeti</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sihai
Xu</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 0pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
                                            director considers the transactions contemplated by the Registration Statement to be of commercial
                                            benefit to the Company and has acted in good faith in the best interests of the Company,
                                            and for a proper purpose of the Company, in relation to the transactions the subject of the
                                            Opinion.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 0pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
                                            the best of my knowledge and belief, having made due inquiry, the Company is not the subject
                                            of legal, arbitral, administrative or other proceedings in any jurisdiction that would have
                                            a material adverse effect on the business, properties, financial condition, results of operations
                                            or prospects of the Company and neither the directors nor Shareholders have taken any steps
                                            to have the Company struck off or placed in liquidation. Further, no steps have been taken
                                            to wind up the Company or to appoint restructuring officers or interim restructuring officers,
                                            and no receiver has been appointed in relation to any of the Company&#8217;s property or
                                            assets. </FONT></TD></TR></TABLE>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">I
confirm that you may continue to rely on this Certificate as being true and correct on the day that you issue the Opinion unless I shall
have previously notified you personally to the contrary.</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[<I>signature
page follows</I>]</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>




<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 0pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Signature:&#9;<I><U>/s/
Lan Huang</U></I></FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&#9;Lan
Huang</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&#9;Director</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10.5pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>3
<FILENAME>exh_232.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Exhibit 23.2</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM&rsquo;S CONSENT</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">We consent to the incorporation by reference in this Registration Statement
on Form S-3 of our report dated March 27, 2025 relating to the financial statements appearing in the Annual Report on Form 10-K of BeyondSpring
Inc. for the year ended December 31, 2024. We also consent to the reference to us under the heading &ldquo;Experts&rdquo; in such Registration
Statement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">/s/ Marcum <FONT STYLE="font-variant: small-caps">llp</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Costa Mesa, CA</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">August 13, 2025</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
