<SEC-DOCUMENT>0001213900-26-054075.txt : 20260508
<SEC-HEADER>0001213900-26-054075.hdr.sgml : 20260508
<ACCEPTANCE-DATETIME>20260508183000
ACCESSION NUMBER:		0001213900-26-054075
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20260508
DATE AS OF CHANGE:		20260508

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Foxx Development Holdings Inc.
		CENTRAL INDEX KEY:			0002013807
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER COMMUNICATIONS EQUIPMENT [3576]
		ORGANIZATION NAME:           	06 Technology
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-94631
		FILM NUMBER:		26960270

	BUSINESS ADDRESS:	
		STREET 1:		13284 POND SPRINGS RD
		STREET 2:		STE 405
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78729
		BUSINESS PHONE:		512-666-1277

	MAIL ADDRESS:	
		STREET 1:		13284 POND SPRINGS RD
		STREET 2:		STE 405
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78729

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Acri Capital Merger Sub I Inc.
		DATE OF NAME CHANGE:	20240229

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BayRoad Holdings Ltd.
		CENTRAL INDEX KEY:			0002128370
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			K3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		ROOM 1801C, BUILDING 7
		STREET 2:		5033 MENGHAI AVENUE
		CITY:			SHENZHEN
		PROVINCE COUNTRY:   	F4
		ZIP:			00000
		BUSINESS PHONE:		86-13428798131

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		ROOM 1801C, BUILDING 7
		STREET 2:		5033 MENGHAI AVENUE
		CITY:			SHENZHEN
		PROVINCE COUNTRY:   	F4
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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  <schemaVersion>X0202</schemaVersion>
<headerData>
    <submissionType>SCHEDULE 13D</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: BayRoad Holdings Ltd. -->
          <cik>0002128370</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



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  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock, par value $0.0001 per share</securitiesClassTitle>
      <dateOfEvent>05/01/2026</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0002013807</issuerCIK>
        <issuerCusips>
          <issuerCusipNumber>351665104</issuerCusipNumber>
        </issuerCusips>
        <issuerName>FOXX DEVELOPMENT HOLDINGS INC.</issuerName>
        <address>
          <com:street1>13575 Barranca Parkway C106</com:street1>
          <com:city>Irvine</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>92618</com:zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>I/C/O Xingrong Han</personName>
          <personPhoneNum>86-13428798131</personPhoneNum>
          <personAddress>
            <com:street1>Room 1801C, Building 7, Qianhai Excellen</com:street1>
            <com:street2>No. 5033 Menghai Avenue</com:street2>
            <com:city>Shenzhen</com:city>
            <com:stateOrCountry>F4</com:stateOrCountry>
            <com:zipCode>518040</com:zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0002128370</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>BayRoad Holdings Limited</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>K3</citizenshipOrOrganization>
        <soleVotingPower>3177600.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>3177600.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>3177600.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>33.43</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>(1) Representing 677,600 shares of common stock, par value $0.0001 per share of the Issuer ("Common Stock"), and 2,500,000 warrants ("Warrants") exercisable for one share of Common Stock at an exercise price of $11.50 per share.

(2) Percentage is calculated based on 7,006,388 shares of the Common Stock outstanding as of May 1, 2026.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Xingrong Han</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>F4</citizenshipOrOrganization>
        <soleVotingPower>3177600.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>3177600.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>3177600.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>33.43</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
        <commentContent>(1) Representing 677,600 shares of Common Stock and 2,500,000 Warrants directly owned by BayRoad Holdings Limited, of which Ms. Xingrong Han is the director.</commentContent>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock, par value $0.0001 per share</securityTitle>
        <issuerName>FOXX DEVELOPMENT HOLDINGS INC.</issuerName>
        <issuerPrincipalAddress>
          <com:street1>13575 Barranca Parkway C106</com:street1>
          <com:city>Irvine</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>92618</com:zipCode>
        </issuerPrincipalAddress>
      </item1>
      <item2>
        <filingPersonName>This statement is filed by BayRoad Holdings Limited ("BayRoad"), a Hong Kong company, and Xingrong Han ("Ms. Han", together with BayRoad, the "Reporting Persons").</filingPersonName>
        <principalBusinessAddress>The principal business address of the Reporting Persons is Room 1801C, Building 7, Qianhai Excellence Financial Center (Phase I), No. 5033 Menghai Avenue, Shenzhen, China.</principalBusinessAddress>
        <principalJob>BayRoad is primarily involved in investment. Ms. Han is the director of BayRoad.</principalJob>
        <hasBeenConvicted>During the past five years, none of the Reporting Persons or to the knowledge of the Reporting Persons, the persons identified in this Item 2, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).</hasBeenConvicted>
        <convictionDescription>During the past five years, none of the Reporting Persons or to the knowledge of the Reporting Persons, the persons identified in this Item 2, has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was the subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal and state securities laws or finding any violation with respect to such laws.</convictionDescription>
        <citizenship>BayRoad is incorporated in Hong Kong. The Citizenship of Ms. Han is CHINA.</citizenship>
      </item2>
      <item3>
        <fundsSource>The information set forth in Items 4 and 5 of this Schedule 13D are hereby incorporated by reference into this Item 3.</fundsSource>
      </item3>
      <item4>
        <transactionPurpose>On May 1, 2026, BayRoad and Acri Capital Sponsor LLC entered into a Securities Transfer Agreement, pursuant to which BayRoad agreed to purchase from Acri Capital Sponsor LLC (i) 635,000 shares of Common Stock at a purchase price of $4.60 per share, and (ii) 2,500,000 Warrants at a purchase price of $0.11 per Warrant, for an aggregate purchase price of $3,196,000.

The Common Stock and Warrants reported in this filing have been purchased and held for investment purposes. The Reporting Persons used their own funds to acquire the securities as a passive investor and has no present plan or proposal which would relate to or result in any of the matters or actions set forth in clauses (a) through (j) of Item 4 of Schedule 13D.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>The responses to Items 7 - 13 of the cover pages of this Schedule 13D are incorporated herein by reference.</percentageOfClassSecurities>
        <numberOfShares>The responses to Items 7 - 13 of the cover pages of this Schedule 13D are incorporated herein by reference.</numberOfShares>
        <transactionDesc>The information in Item 4 is incorporated herein by reference. Except as disclosed in this Schedule 13D, there have been no transactions by the Reporting Persons in the securities of the Issuer during the past sixty days.</transactionDesc>
        <listOfShareholders>Not applicable.</listOfShareholders>
        <date5PercentOwnership>Not applicable.</date5PercentOwnership>
      </item5>
      <item6>
        <contractDescription>The information set forth in Items 4 of this Schedule 13D are hereby incorporated by reference into this Item 6.</contractDescription>
      </item6>
      <item7>
        <filedExhibits>Item 7 of the Schedule 13D is hereby amended by adding the following to the end of the section:

Exhibit No. Description

99.1 Joint Filing Agreement, dated May 8, 2026.
99.2 Securities Transfer Agreement, dated May 1, 2026, by and among Acri Capital Sponsor LLC and BayRoad Holdings Limited.</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>BayRoad Holdings Limited</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Xingrong Han</signature>
          <title>Xingrong Han/Director</title>
          <date>05/08/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Xingrong Han</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Xingrong Han</signature>
          <title>Xingrong Han</title>
          <date>05/08/2026</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>

</edgarSubmission>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea028987901ex99-1.htm
<DESCRIPTION>JOINT FILING AGREEMENT, DATED MAY 8, 2026
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: right"><B>Exhibit 99.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">JOINT FILING AGREEMENT PURSUANT TO RULE
13d-1(k)(1)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt">The
undersigned acknowledge and agree that the foregoing statement on Schedule 13D is filed on behalf of each of the undersigned and that
all subsequent amendments to this statement on Schedule 13D shall be filed on behalf of each of the undersigned without the necessity
of filing additional joint filing statements. The undersigned acknowledge that each shall be responsible for the timely filing of such
amendments, and for the completeness and accuracy of the information concerning him or it contained herein and therein, but shall not
be responsible for the completeness and accuracy of the information concerning the other entities or persons, except to the extent that
he or it knows or has reason to believe that such information is inaccurate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">Dated May 8, 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B><I>BayRoad Holdings Limited </I></B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ Xingrong Han</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ Xingrong Han</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD>Xingrong Han</TD>
    <TD>&nbsp;</TD>
    <TD>Xingrong Han</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD>Director</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
  </TABLE>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>ea028987901ex99-2.htm
<DESCRIPTION>SECURITIES TRANSFER AGREEMENT, DATED MAY 1, 2026, BY AND AMONG ACRI CAPITAL SPONSOR LLC AND BAYROAD HOLDINGS LIMITED
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 99.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES TRANSFER AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Securities Transfer Agreement
is dated as of __May 1____, 2026 (this &ldquo;<U>Agreement</U>&rdquo;), by and among Acri Capital Sponsor LLC, a Delaware limited liability
company (the &ldquo;<U>Seller</U>&rdquo;), and the party identified on the signature page&nbsp;hereto (the &ldquo;<U>Buyer</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Seller holds
certain shares of common stock, par value $0.0001 per share (the &ldquo;<U>Common Stock</U>&rdquo;) of Foxx Development Holdings, Inc.,
a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;) and certain warrants (the &ldquo;<U>Warrants</U>&rdquo;) of the Company, each
exercisable for&nbsp;one&nbsp;share of Common Stock of the Company at an exercise price of $11.50&nbsp;per share;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, on the terms and
subject to the conditions set forth in this Agreement, the Seller wishes to transfer to the Buyer and the Buyer wishes to acquire from
the Seller 635,000 shares of Common Stock and 2,500,000 Warrants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the premises, representations, warranties and the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree
as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section&nbsp;1. <B>Transfer
of Subject Securities</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) Subject
to the terms and conditions of this Agreement, the Seller hereby agrees to transfer to the Buyer and the Buyer agrees to acquire from
the Seller, (i) 635,000 shares of Common Stock (the &ldquo;<U>Subject Shares</U>&rdquo;) at a purchase price of $4.60 per share and (ii)
2,500,000 Warrants (the &ldquo;<U>Subject Warrants</U>&rdquo;, together with the Subject Shares, the &ldquo;<U>Subject Securities</U>&rdquo;)
at a purchase price of $0.11 per Warrant, for an aggregate purchase price of $3,196,000 (the &ldquo;<U>Purchase Price</U>&rdquo;) .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) The
closing (the &ldquo;<U>Closing</U>&rdquo;) shall occur remotely via the exchange of documents and signatures, on the date and time mutually
agreed by the Seller and the Buyer (the &ldquo;<U>Closing Date</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) At
the Closing, the Seller shall cause the Company deliver to the Buyer, against delivery by the Buyer of the Purchase Price, book-entry
statement of the Company showing the ownership of the Buyer of the Subject Securities. At the Closing, the Buyer shall deliver or cause
to be delivered to the Seller the Purchase Price by paying U.S. dollars by wire transfer as set forth in <U>Appendix A</U> enclosed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section&nbsp;3. <B>Investment
Representations</B>. The Buyer hereby acknowledges that an investment in the Subject Securities involves certain significant risks. The
Buyer has no need for liquidity in its investment in the Subject Securities for the foreseeable future and is able to bear the risk of
that investment for an indefinite period. The Buyer acknowledges and hereby agrees that the Subject Securities (including the shares of
Common Stock underlying the Warrants) have not been registered under the Securities Act of 1933, as amended (the &ldquo;<U>Securities
Act</U>&rdquo;), or any state or other jurisdiction&rsquo;s securities laws and thus are &ldquo;restricted securities&rdquo; under Rule
144 of the Securities Act and will not be transferable under any circumstances unless registered by the Company in accordance with federal
and state securities laws or sold in compliance with an exemption under such laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Subject Securities are
being acquired solely for the Buyer&rsquo;s own account, for investment purposes only, and are not being purchased with a view to or for
the resale, distribution, subdivision or fractionalization thereof; and the Buyer has no present plans to enter into any contract, undertaking,
agreement or arrangement for such resale, distribution, subdivision or fractionalization. The Buyer has been given the opportunity to
(i)&nbsp;ask questions of and receive answers from the Seller and the Company concerning the terms and conditions of the Subject Securities,
and the business and financial condition of the Company and (ii)&nbsp;obtain any additional information that the Seller possesses or can
acquire without unreasonable effort or expense that is necessary to assist the Buyer in evaluating the advisability of the purchase of
the Subject Securities and an investment in the Company. The Buyer is not relying on any oral representation made by any person as to
the Company or its operations, financial condition or prospects. The Buyer is not relying on the Seller, the Company or their respective
officers, directors or advisors with respect to the legal, tax, economic or other considerations of the Buyer relating to the purchase
of the Subject Securities, and in regard to such considerations, the Buyer has relied on the advice of, or has consulted with, only its
own advisors. The Buyer is not purchasing the Subject Securities as a result of or subsequent to any advertisement, article, notice or
other communication published on the internet, in any newspaper, magazine or similar media or broadcast over television or radio, any
seminar or meeting, or any solicitation of a subscription by a person not previously known to it in connection with investments in securities
generally. The Buyer (i) has knowledge and experience in business and financial matters, prior investment experience, including investment
in securities that are non-listed, unregistered and/or not traded on a national securities exchange; (ii) recognizes the highly speculative
nature of the purchase of the Subject Securities; and (iii) is able to bear the economic risk that it hereby assumes. The Buyer is an
&ldquo;accredited investor&rdquo; as defined in Rule 501(a) of Regulation D promulgated by the Commission under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section&nbsp;4. <B>Representations
and Warranties</B>. Each of the parties hereto represents and warrants, to the other parties as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) The
Seller has good and marketable title to the Subject Securities held by such Seller free and clear of all liens and encumbrances and that,
upon updating the records of ownership, the Buyer will have good and marketable title to the Subject Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) Each
party has all requisite power and authority to execute, deliver and perform its obligations under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) The
execution, delivery and performance by each party of this Agreement and the consummation of the transactions contemplated hereby have
been duly authorized by all necessary action on the part of such party, and do not violate, conflict with or result in any breach or contravention
of, or the creation of any lien under, any contractual obligation of such party, or any requirement under any law applicable to such party,
and do not violate any judgment, injunction, suit, award, decree or order of any nature of any governmental authority against, or binding
upon, such party, and (if such party is an entity) do not contravene the terms of such party&rsquo;s organizational documents, or any
amendment thereof&nbsp;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d) No
approval, consent, compliance, exemption, authorization or other action by, or notice to or filing with, any governmental authority or
any other person, and no lapse of a waiting period under any applicable law, is necessary or required in connection with the execution,
delivery or performance by each party of this Agreement or the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e) There
are no actions, suits, proceedings, claims, complaints, disputes, arbitrations or investigations pending or, to the knowledge of each
party, threatened, at law, in equity, in arbitration or before any governmental authority against such party purporting to enjoin or restrain
the execution, delivery or performance by such party of this Agreement or the transactions contemplated hereby; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f) This
Agreement has been duly executed and delivered by each party and will be valid and binding on such party and enforceable against such
party in accordance with its terms, except may be limited by applicable bankruptcy, insolvency, reorganization, fraudulent transfer or
conveyance, moratorium or similar laws affecting the enforcement of creditors rights generally and general equitable principles, regardless
of whether such enforceability is considered in a proceeding at law or in equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 5. <B>Entire Agreement</B>.
This Agreement contains the entire agreement between the parties hereto in respect of the subject matter contained herein and supersedes
all prior agreements and understandings of the parties, oral and written, with respect to the subject matter contained herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 6. <B>Successors
and Assigns</B>. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns. Neither
party shall assign this Agreement or any rights or obligations hereunder without the prior written consent of the other.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 7. <B>Binding Effect;
Benefits</B>. This Agreement and all the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns; nothing in this Agreement, expressed or implied, is intended to confer on any persons other
than the parties hereto or their respective successors and permitted assigns, any rights, remedies, obligations or liabilities under or
by reason of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 8. <B>Amendment;
Waivers</B>. All modifications, amendments or waivers to this Agreement shall require the written consent of each of the party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 9. <B>Dispute
Resolution. </B>The&nbsp;validity, interpretation, and performance&nbsp;of&nbsp;this Agreement shall be governed in all respects
by&nbsp;the&nbsp;laws&nbsp;of&nbsp;the&nbsp;State&nbsp;of&nbsp;New&nbsp;York, without giving effect to
conflicts&nbsp;of&nbsp;law&nbsp;principles thereof.&nbsp;Any controversy or claim arising out of or relating to this Agreement, or
the breach thereof, shall be determined by arbitration administered by the International Centre for Dispute Resolution in accordance
with its International Arbitration Rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 10. <B>Counterparts</B>.
This Agreement may be executed in two or more counterparts, each of which will be deemed an original but all of which together will
constitute one and the same instrument.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[<I>Signature Page Follows</I>]</P>

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


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the undersigned have executed
this Agreement to be effective as of the date first set forth above.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SELLER:</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ACRI CAPITAL SPONSOR LLC</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Joy Yi Hua</FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joy Yi Hua</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Manager</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BUYER:</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BAYROAD HOLDINGS LIMITED</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Xingrong Han</FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xingrong Han</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[<I>Signature Page&nbsp;to Securities Transfer
Agreement</I>]</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">4</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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

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