Company: BGHL
Filing Date: 2025-10-28
Form Type: F-1/A
Source: 0001213900-25-102958
Chunk: 68

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-10-28
Form: F-1/A
Chunk 68
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 the consequences to U.S. taxpayers if we were determined to be a PFIC, see “Material United States Federal Income Tax Considerations -PassiveForeign Investment Company Rules.” Our controlling shareholder has substantial influence over the Company. Its interests may not be aligned with the interests of our other shareholders, and it could prevent or cause a change of control or other transactions. As of the date of this prospectus, Ms. Zhang, indirectly through Billion Fortune Overseas Limited beneficially owns 68% of our Ordinary Shares before this offering. Upon the completion of this offering, Ms. Zhang will, through Billion Fortune Overseas Limited, beneficially own 62.6% of our then issued and outstanding Ordinary Shares. Accordingly, our controlling shareholder could control the outcome of any corporate transaction or other matter submitted to the shareholders for approval, including mergers, consolidations, the election of directors and other significant corporate actions, including the power to prevent or cause a change in control. Without the consent of our controlling shareholder, we may be prevented from entering into transactions that could be beneficial to us or our minority shareholders. In addition, our directors and officers could violate their fiduciary duties by diverting business opportunities from us to themselves or others. The interests of our largest shareholder may differ from the interests of our other shareholders. The concentration in the ownership of our shares may cause a material decline in the value of our shares. For more information regarding our principal shareholders and their affiliated entities, see “Principal Shareholders.” As a company incorporated in the Cayman Islands, we are permitted to adopt certain home country practices in relation to corporate governance matters that differ significantly from Nasdaq corporate governance listing standards. These practices may afford less protection to shareholders than they would enjoy if we complied fully with Nasdaq corporate governance listing standards. As a foreign private issuer that has applied to list our Ordinary Shares on the Nasdaq, we rely on a provision in the Nasdaq corporate governance listing standards that allows us to follow Cayman Islands law with regard to certain aspects of corporate governance. This allows us to follow certain corporate governance practices that differ in significant respects from the corporate governance requirements applicable to U.S. companies listed on the Nasdaq. 33 For example, we are exempt from Nasdaq regulations that require a listed U.S. company to: •have a majority of the board of directors consist of independent directors; •require non -managementdirectors to meet on a regular basis without management present; •have an independent compensation committee; •have an independent nominating committee; and •