9.2 Key Risk Factors

Participants should be aware of the following risks:

• ChiChiPingPing IP-Specific Risks: Underperformance in certain business areas may reduce RWA token rewards; delays in establishing educational institution partnerships; cultural and language challenges in localization.

• Regulatory Environment Risks: Potential changes in cryptocurrency, NFT, and child education regulations; legal complexities due to varied country-specific approaches; differences in international IP licensing regulations.

• Technical and Operational Risks: Technical limitations of the Solana blockchain; challenges in protecting personal data for child users; complexities in operating multilingual and multicultural services.

The project employs phased strategies, regulatory monitoring systems, and modular technical architecture to minimize these risks and adapt flexibly to changing environments.