Company: CLIK
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001493152-25-019286
Chunk: 6

Company: Click Holdings Ltd.
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 6
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 our operations are in Hong Kong, it is uncertain
whether the Chinese government will adopt additional requirements or extend the existing requirements to apply to us. Any future action
by the PRC government expanding the categories of industries and companies whose foreign securities offerings are subject to review by
the CSRC could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and could cause
the value of such securities to significantly decline or be worthless. Any legal or regulatory changes that restrict or otherwise unfavorably
impact our Hong Kong operating subsidiaries’ ability to conduct their business could decrease demand for their services, reduce
revenues, increase costs, require them to obtain more licenses, permits, approvals or certificates, or subject them to additional liabilities.
To the extent any new or more stringent measures are implemented, our business, financial condition and results of operations could be
adversely affected, and the value of our Class A Ordinary Shares could decrease or become worthless.

   4  

It
may be difficult for overseas and/or regulators to conduct investigations or collect evidence within the territory of China, including
Hong Kong.

Shareholder
claims or regulatory investigations that are common in the U. S. generally are difficult to pursue as a matter of law or practicality
in China. For example, in China, there are significant legal and other obstacles to providing information needed for regulatory investigations
or litigation initiated outside China. Although the authorities in China may establish a regulatory cooperation mechanism with the securities
regulatory authorities of another country or region to implement cross-border supervision and administration, such cooperation with the
securities regulatory authorities in the U. S. may not be efficient in the absence of mutual and practicable cooperation mechanism. Furthermore,
according to Article 177 of the PRC Securities Law, or Article 177, which became effective in March 2020, no overseas securities regulator
is allowed to directly conduct investigations or evidence collection activities within mainland China. While detailed interpretation
of or implementation rules under Article 177 have yet to be promulgated, the inability for an overseas securities regulator to directly
conduct investigations or evidence collection activities within mainland China may further increase difficulties faced by you in protecting
your interests.

In
the event that U. S. regulators carry out an investigation on us and there is a need to conduct such investigation, or collect evidence
in mainland China, U. S. regulators may not be able to carry out such investigation or evidence collection directly in mainland China
under the PRC laws. U. S. regulators