Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 17

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 3
Chunk 17
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 a reasonable time period and should complete the filing
procedure before such companies’ overseas issuance and listing.

As
of the date of this Annual Report, our Group has no operation in Mainland China and is not required to complete filing procedures with
the CSRC pursuant to the requirements of the Trial Measures. While we have no current operations in Mainland China, should we have any
future operations in Mainland China and should we (i) fail to receive or maintain such permissions or approvals, (ii) inadvertently conclude
that such permissions or approvals are not required, or (iii) applicable laws, regulations, or interpretations change and require us
to obtain such permissions or approvals in the future, we may face sanctions by the CSRC, the Cyberspace Administration of China (the
“ CAC”) or other PRC regulatory agencies. These regulatory agencies may also impose fines and penalties on our operations
in Mainland China, as well as limit our ability to pay dividends outside of Mainland China, limit our operations in Mainland China, or
take other actions that could have a material adverse effect on our business as well as the trading price of our shares. We may be required
to restructure our operations to comply with such regulations or potentially cease operations in the PRC entirely. Any action taken by
the PRC government could cause the value of our shares to significantly decline or be worthless.

We
are required to be licensed with the SFC to carry on our business. As of the date of this Annual Report, GCL was licensed under the SFO
to carry on Type 6 (advising on corporate finance) regulated activity. The above licenses have no
expiry date and remain in force until suspended or revoked, subject to certain continuing obligations. Other than the above, as of the
date of this Annual Report, our subsidiaries in Hong Kong are not required to obtain any permission or approval from Hong Kong authorities
to operate our business. No permissions or approvals have been applied for by the Company or denied by any relevant authorities. However,
uncertainties still exist, due to the possibility that laws, regulations, or policies in the PRC could change rapidly in the future.
In the event that (i) the PRC government expanded the categories of industries and companies whose foreign securities offerings are subject
to review by the CSRC or the CAC that we are required to obtain such permissions or approvals; or (ii) we inadvertently concluded that
relevant permissions or approvals were not required or that we did