Company: BGHL
Filing Date: 2025-05-30
Form Type: DRS
Source: 0001213900-25-049553
Chunk: 3

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-05-30
Form: DRS
Chunk 3
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 — Implications of Being an Emerging Growth Company” and “Risk Factors” on pages 7 and11, respectively . Upon the completion of this Offering, we will be a “controlled company” as defined under the Nasdaq Stock Market Rules because our controlling shareholder will own [*]% of our total issued and outstanding Ordinary Shares, representing [*]% of the total voting power, assuming that the representative of the underwriters does not exercise the over -allotmentoption. Although we do not intend to rely on the “controlled company” exemption under the Nasdaq listing rules after the Offering, we could elect to rely on this exemption in the future. If we elect to rely on the “controlled company” exemption, a majority of the members of our board of directors might not be independent and our nominating and corporate governance and compensation committees might not consist entirely of independent directors. We are not, and our subsidiary Billion Enterprise International Limited is not, a Chinese operating company. We hold 100% equity interests in the operating entity in Hong Kong, and do not use a variable interest entity (“VIE”) structure. None of our business, operations or subsidiary is located in Mainland China and the Company is not a Chinese operating company. Furthermore, none of our suppliers are in Mainland China. Because all of our operations are in Hong Kong, a special administrative region of China, our business is subject to the complex and rapidly evolving laws and regulations there. To the extent cash or assets in the business are in Hong Kong or a Hong Kong entity, the funds or assets may not be available to fund operations or for other use outside of Hong Kong due to interventions in or the imposition of restrictions and limitations on the ability of you or your subsidiaries by the PRC government to transfer cash or assets. For a detailed description, see “Risk Factors — Risks Related to our Ordinary Shares and this Offering — To the extent cash or assets in the business are in Hong Kong or a Hong Kong entity, the funds or assets may not be available to fund operations or for other use outside of Hong Kong due to interventions in or the imposition of restrictions and limitations on the ability of you or your subsidiaries by the PRC government to transfer cash or assets” on page [*] of this prospectus. The Company currently has no express cash management policies that dictate how such funds are transferred. The majority of our historical clients were based in Hong Kong and our advertising market is in Hong Kong, none of our business, operations or subsidiary is located in Mainland China and the Company is not