Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 157

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4A
Chunk 157
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,653,608      11,783,352      130  

Selling, general and administrative expenses increased by HKD11,783,352
or 130% from HKD9,047,204 in the year ended June 30, 2024 to HKD20,830,556 (US$2,653,608) in the year ended June 30, 2025, which was mainly
driven by the increase in legal and professional fee amounting to HKD3,681,356 and the increase in staff costs by HKD7,489,818 due to
the yearly increment of salaries, salaries to the independent non-executive directors, additional year-end bonus and the discretionary
bonuses to the senior management.

Bank Charge

The bank charge was HKD228,070
(US$29,054) in the year ended June 30, 2025, compared to HKD301,906 in the year ended June 30, 2024. The bank charge incurred decreased
in the fiscal year 2025 because the number of transactions processed by the banks decreased during the year.

Building management fee

It represented the building
management fees paid for its office facilities in PRC, Hong Kong and Taiwan. It decreased by HKD1,102 or -1%, to HKD163,858 (US$20,874)
in the year ended June 30, 2025 from HKD164,960 in the year ended June 30, 2024. There is no material fluctuation during the year.

Depreciation

The Group incurred depreciation
expense for its leasehold improvements, furniture and fixtures and office equipment. Depreciation expense decreased by HKD3,306 or -3%
to HKD106,900 (US$13,618) in the year ended June 30, 2025 from HKD110,206 in the year ended June 30, 2024. The depreciation expense incurred
in the fiscal year 2025 decreased because there are fully depreciated property and equipment for the year ended June 30, 2025 compared
with the same period of 2024, despite the acquisition of new equipment during the year.

Insurance

Insurance cost included professional
indemnity for the directors, the medical insurance and employee compensation insurance premiums the Group paid for its employees. Insurance
cost increased by HKD160,503 or 59%, to HKD433,687 (US$55,247