Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 164

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4A
Chunk 164
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 net income of HKD9,010,680 as adjusted for
non-cash items and change in operating activities. Adjustments for non-cash items consisted of depreciation of property and equipment,
HKD154,457, amortization of right-of-use assets, HKD1,091,600 and reversal of provision for credit losses, HKD61,357. Change in operating
activities included a decrease in account receivables due to the temporarily ceased business, consultancy and market research services,
HKD6,845,155, an increase in prepayment, deposits and other receivables, HKD325,876, an increase in accrued expenses and other payables,
HKD452,847, a decrease in account payable, HKD39,015, an increase in income tax payables, HKD100,260 and a decrease in lease liabilities,
HKD1,142,491.

Cash used in investing activities:

For the year ended June 30,
2025, net cash used in investing activities was mainly contributed by purchases of property and equipment, HKD63,356 (US$8,071).

For the year ended June 30,
2024, net cash used in investing activities was mainly contributed by purchases of property and equipment, HKD59,449.

For the year ended June 30,
2023, net cash used in investing activities was mainly contributed by purchases of property and equipment, HKD25,303.

Cash (used in) provided by financing activities:

For the year ended June 30,
2025, net cash provided by financing activities, HKD49,269,420 (US$6,276,439) consisted of dividend payment, HKD5,865,364 (US$747,190),
net proceed from IPO, HKD55,057,154 (US$7,013,740), and repayments from ultimate shareholders, HKD77,630 (US$9,889).

For the year ended June 30,
2024, net cash used in financing activities, HKD13,286,626 consisted of dividend payment, HKD9,461,001, payment of deferred IPO costs,
HKD1,824,885 and repayments of bank loan, HKD2,000,740.

For the year ended June 30,
2023, net cash used in financing activities, HKD12,593,994 consisted of dividend payment, HKD9,884,032, payment of deferred IPO costs,
HKD1,776