Company: CLIK
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001493152-25-019286
Chunk: 0

Company: Click Holdings Ltd.
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 0
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ITEM
3. KEY INFORMATION

See
“ Introduction” and “ Forward-Looking Statements” above.

A.
[Reserved]

B.
Capitalization and Indebtedness

Not
applicable.

C.
Reasons for the Offer and Use of Proceeds

Not
applicable.

D.
Risk Factors

Risks
Related to Doing Business in Hong Kong

Recent
joint statement by the SEC and PCAOB, and the HFCA Act all call for additional and more stringent criteria to be applied to emerging
market companies upon assessing the qualification of their auditors, especially the non-U. S. auditors who are not inspected by the PCAOB.

The
AHFCA Act was enacted on December 29, 2022. On December 29, 2022, the “ Consolidated Appropriations Act was signed into law, which
contained, among other things, an identical provision to the AHFCA Act and amended the HFCA Act by requiring the SEC to prohibit an issuer’s
securities from trading on any U. S. stock exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead
of three years. The AHFCA Act states that if the SEC determines that an issuer has filed audit reports issued by a registered public
accounting firm that has not been subject to inspection by the PCAOB for two consecutive years, the SEC shall prohibit the securities
of the issuer from being traded on a national securities exchange or in the over-the-counter trading market in the U. S. (the applicable
period under the HFCA Act prior to the enactment of the AHFCA Act had been two years).

On
March 24, 2021, the SEC adopted interim final rules relating to the implementation of certain disclosure and documentation requirements
of the HFCA Act. A company will be required to comply with these rules if the SEC identifies it as having a “non-inspection”
year under a process to be subsequently established by the SEC. The SEC is assessing how to implement other requirements of the HFCA
Act, including the listing and trading prohibition requirements described above. On December 2, 2021, the SEC adopted final amendments
implementing the disclosure and submission requirements of the HFCA Act.

On
June 22, 2021, the U. S. Senate passed a bill which, if passed by the U. S. House of Representatives and signed into law, would reduce
the number of consecutive non-inspection years required for triggering the