Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 137

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4A
Chunk 137
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and adversely affected by acts of God, acts of war and terrorism, natural disasters, riots, epidemics and other disasters which are beyond
our control. Our business, financial condition and results of operations may be adversely affected if these events occur.

For example, epidemics threaten
people’s lives and may adversely affect their livelihood as well as their living and consumption patterns. The occurrence of an
epidemic is beyond our control, and we cannot assure you that the outbreak of coronavirus (including COVID-19), severe acute respiratory
syndrome, the H5N1 strain of avian influenza, the H1N1 strain of swine flu, the Zika virus or any other epidemics or pandemics will not
happen. Any epidemic or pandemic occurring, such as the most recent outbreak of COVID-19, in the PRC, Hong Kong, Japan, Taiwan, Macau
and other locations, or even in areas outside of the PRC, Hong Kong, Japan, Taiwan, Macau and other locations, may severely affect and
restrict the level of economic activity as the government may impose regulatory administrative measures quarantining affected areas or
other measures to control the outbreak of the disease, which in turn may adversely affect our business, financial condition and results
of operations. Acts of war and terrorism may cause damage or disruption to us or our employees, facilities, markets, suppliers or customers,
any of which may adversely impact our revenue, cost, financial condition and results of operations or the trading price of our Shares.
Potential war or terrorist attacks may also cause uncertainty and cause our business to suffer in ways that we cannot currently predict.

INCREASE OF AUTHORIZED SHARES AND FORWARD SHARE SPLIT

On December 19, 2022, the
Group effectuated a forward split of the Ordinary Shares of the Group at a ratio of 1,600:1 to increase its authorized capital shares
from 50,000 Ordinary Shares with a par value of US$1 per share to unlimited number of Ordinary Shares with a par value of US$0.000625
per share (the “ Forward Split”). Immediately following the effectiveness of the Forward Split, the number of issued and outstanding
Ordinary Shares of the Group was 16,000,000.

LISTING ON NASDAQ EXCHANGE

On September 13, 2024, the
Group closed its IPO of 1,750,000 ordinary shares at the initial public offering price of US$4.00 per share for total gross proceeds of