Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 429

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 429
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 |     |        | 10,000 |     |              |      - |   |     |            | 1,060,309 |     |             | (1,656,956 | ) |     |                     | 6,098 |     |                     | (580,549 | ) |

<div align='center'>The accompanying notes are an integral part of these consolidated financial statements.</div>

| F-45 |

<div align='center'>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

NOTE 1. ORGANIZATION AND BUSINESS DESCRIPTION

Organization and Business Description

HCYC Group Company Limited and its subsidiaries (collectively referred to herein as the “Company”) primarily engages in insurance brokerage services. The Company markets and sells life insurance products to customers, which are underwritten by some of the leading insurance companies in Hong Kong.

HCYC Group Company Limited (“ HCYC Cayman”) is a holding company incorporated in Cayman Island on May 11, 2022 under the laws of the Cayman Islands, which has no substantial operations other than holding all of the outstanding share capital of HCYC Agent Company Limited (“ HCYC Agent”).

HCYC Agent was established under the laws of the British Virgin Islands on May 27, 2022. HCYC Agent is also a holding company holding all of the outstanding equity of HCYC Wealth Management (Asia) Company Limited (“ HCYC HK”) which was incorporated in Hong Kong on November 5, 2010.

On May 24, 2011, HCYC HK was validly registered with a self-regulatory organization, the Professional Insurance Brokers Association (“ PIBA”) and has been legally carrying on insurance brokerage business ever since. On September 23, 2019, the Insurance Authority took over the regulation of insurance intermediaries from the PIBA, and a company shall then be licensed to act as an insurance broker thereafter. However, under the Insurance Ordinance Rules, HCYC HK, as a registered member of the PIBA, had been regarded as a licensed broker company during the 3-year transitional period with expiration date on September 22, 2022. On May 27, 2021, HCYC HK officially obtained the Insurance Broker Company License from the Insurance Authority of Hong Kong and maintains a valid Insurance Broker Company license since then.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Summary of Significant Accounting Policies

Basis of Presentation