Company: GRAN
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069627
Chunk: 51

Company: Grande Group Ltd/HK
Filing Date: 2025-07-31
Form: 20-F
Item: Item 3
Chunk 51
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 power of our outstanding
Ordinary Shares, it may be able to influence the outcome of corporate actions so long as it retains Class B Ordinary Shares. During
the period of Grande Holding Limited’s controlling or significant ownership of our Ordinary Shares, investors may not be able to
affect the outcome of such corporate actions.

Our Controlling Shareholder, Grande Holding Limited, may have interests that differ from yours and may vote in a way with which you disagree, and which may be adverse to your interests.
Corporate action might be taken even if other shareholders oppose them. This concentration of ownership may have the effect of delaying,
preventing or deterring a change of control or other liquidity event of our Company, could deprive our shareholders of an opportunity
to receive a premium for their shares as part of a sale or other liquidity event and might ultimately affect the market price of our Class A
Ordinary Shares.

Furthermore, we cannot predict whether our dual-class structure
will result in a lower or more volatile market price of our Class A Ordinary Shares or in adverse publicity or other adverse consequences.
For example, certain index providers have announced restrictions on including companies with multiple-class share structures in certain
of their indices. In July 2017, FTSE Russell and S& P Dow Jones announced that they would cease to allow most newly public companies
utilizing dual-class capital structures to be included in their indices. Affected indices include the Russell 2000 and the S& P
500, S& P MidCap 400 and S& P SmallCap 600, which together make up the S& P Composite 1500. Beginning in 2017, MSCI, a leading
stock index provider, opened public consultations on their treatment of dual-class structures and temporarily barred new dual-class listings
from certain of its indices; however, in October 2018, MSCI announced its decision to include equity securities “with unequal
voting structures” in its indices and to launch a new index that specifically includes voting rights in its eligibility criteria.
Under the announced policies, our dual-class capital structure makes us ineligible for inclusion in certain indices, and as a result,
mutual funds, exchange-traded funds and other investment vehicles that attempt to passively track those indices are not expected
to invest in our Class A Ordinary Shares. These policies are still fairly new and it is as of yet unclear what effect, if any, they
will have on the valuations of publicly traded companies excluded from the indices, but it is possible that they may